Public Relations Campaign Case study

Introduction In marketing their products and services, firms in different economic sectors are faced with a challenge emanating from the business environment. In order to deal with these challenges, organizations have to be effective in their marketing communication.Advertising We will write a custom research paper sample on Public Relations Campaign Case study specifically for you for only $16.05 $11/page Learn More According to Moutinho and Chien (2008, p.179), incorporation of integrated marketing communication is one of the ways that firms can achieve this. There are diverse marketing communication techniques that firms can consider. One such technique entails using public relations. Egan (2008, p.247), defines public relations as the process through which a firm develops the image of its products and services. Alternatively, public relations can be defined as the process through which a firm develops a strong relationship with the public. In an effo rt to understand public relations, this paper illustrates case studies of firms that incorporated public relations in their market communication effort. Case Studies Problem and situations Over the years it has been in operation, Procter Gamble Company has managed to acquire a substantial market share with regard to consumer goods. One of the products that the firm produces is Dawn Dishwashing Liquid. Upon its introduction into the market, Dawn gained a substantial recognition and reputation within the market as being an effective detergent in the removal of grease. However, the company faced a challenge from the competitors who were luring customers. Dawn’s competitors were imitating the value that the firm offers to its customers’ by offering dishwashing detergents in larger bottles and at a lower price. This had adverse effects on Dawn which lost a proportion of its market value (Business Consulting Buzz, 2009, para. 3). Similarly, Johnson Johnson has been effectiv e in the provision of consumer goods around the world. The firm is committed at developing new products in order to meet the customer’s demands. The firm deals with diverse product categories such as adhesive bandages.Advertising Looking for research paper on communications media? Let's see if we can help you! Get your first paper with 15% OFF Learn More An example of adhesive bandage that the firm supplies to the market is the Band-Aid bandage. During the 20th century, Band-Aid became widely recognized amongst a large number of households. However, the firm experienced a challenge emanating from an increment in the intensity of competition. Investors ventured the market with the objective of exploiting the presented market potential. To exploit the market opportunity, competitors developed cheaper generic bandages similar to Band-Aid. As a result, Band-Aid lost a significant proportion of its market value. Solutions In an effort to improve the public image of their products, Proctor Gamble and Johnson Johnson integrated public relations. Proctor Gamble contracted Marina Maher Communications (MMC) to conduct a public relations campaign on its behalf. The objective of the public relations campaign was to communicate the value of Dawn to the customers as being a strong dishwasher. The message of the public relations campaign was that one 25oz bottle of Dawn dishwasher could clean more than 10,000 dishes. For the campaign to be effective, the firm considered it necessary to incorporate an effective slogan which is ‘Dawn Goes The Distance’. Additionally, the firm considered it vital to integrate a strong visual which would communicate the message of power and value. To achieve this, the firm contracted Robbie Knievel of the MMC. He was well known as a daredevil with regard to motorcycling being the son of the famous cyclist Evel Knievel. Robbie Knievel was to jump over 10,000 dishes which were then to be washed with only one 25 oz bottle of Dawn. The show was witnessed by over 1625 spectators. This public relations campaign was very successful. The story was carried in different media such as the radio and the print media. Within a period of one week, the campaign had appealed more than 67million consumers.Advertising We will write a custom research paper sample on Public Relations Campaign Case study specifically for you for only $16.05 $11/page Learn More Similarly, Johnson and Johnson contracted a public relations company known as Ogilvy Public Relations2 to undertake a public relations campaign on its behalf. Ogilvy hired Emma Roberts a renowned Nickelodeon Star to endorse Band-Aid bandage. Emma Roberts conducted a comprehensive campaign on different mediums. For example, she conducted a campaign on stickwitawards.com by giving children an opportunity to win a trip to Nickelodeon studios located in Hollywood. The campaign was very successful as evidenced by the 65 million impressions on Band-Aid it developed over the media. The public relations campaign contributed towards Band-Aid regaining its market. Additionally, the campaign contributed towards development of a stick-it-with attitude amongst parents and their kids. Conclusion Public relations campaign is a critical element that firms should consider in their effort to deal with marketing challenges. In their marketing communication, it is paramount for firms to integrate public relations campaign. From the case studies, the two firms effectively integrated public relations campaign. By contracting celebrities to endorse their products, both firms were able to improve the public image of their products. This led to the firms re-establishing their competitive advantage within their respective markets. Recommendations Prior to conducting a public relations campaigns organizations should consider the following. Developing a comprehensive understanding of the objective of the campaign. This will aid in developing an effective public relations campaign. Organizations should also formulate the most effective public relations campaign. Reference List Business Consulting Buzz. (2009). The public relations campaign; two case studies. Web. Egan, J. (2008). Marketing communications. London: Thomson.Advertising Looking for research paper on communications media? Let's see if we can help you! Get your first paper with 15% OFF Learn More Moutinho, L. Chien, C. (2008). Problems in marketing. Los Angeles: Sage. This research paper on Public Relations Campaign Case study was written and submitted by user Ayana Mcpherson 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.

Tactical mistake - Emphasis

Tactical mistake Tactical mistake Weve all done it: accidentally substituted a similar-sounding but actually entirely different word for the one we meant to write. And while no-one wants to be the person who does it (it could seriously undermine your credibility), for humours sake, were probably all secretly glad it happens occasionally. Take one of the features of a 9 LED Eurohike aluminium torch (offered at an unmissable price with a recent purchase at Millets). Listed between heavy duty aluminium construction and 3 x AAA batteries included we find tactical on/off switch. Now that sounds fancy, doesnt it? But really, whenever any of us make that strategic reach for the on/off switch, with the cunning plan of being able to see where we are going, arent we all tacticians in our own right? Or could this simple, moulded, soft-rubber switch actually be better described as tactile? But then, this is a dangerous game to start.

Preparation for Mentorship ( Given Scenario) Essay

Preparation for Mentorship ( Given Scenario) - Essay Example Due to his many issues, Paul is identified as having a learning disability. However, his case is neither new nor is it unique, and certain metrics can be utilized to better understand the situation. According to Duffy (2004), mentors find assessment of underperforming learners to be a substantial challenge. However, it is the role of both the health care professional and mentor to offer support to such learners, ensuring they are competent in their practice. Thus, as a mentor, coaching around Paul’s learning disability may make the process more difficult, but definitely not impossible. The mentor actually has a powerful takeaway from working with Paul in the sense he or she is able to share his experiences and coach another individual. In fact, it is overcoming his obstacles that may breed inspiration within his mentor in future scenarios. Research Aims Against this background, this work intends to critically analyse the role of the mentor in such a scenario. Initially, it wil l define mentorship, following up with an explanation of the mentor role, concluding with a critical analysis of research studying mentoring effectiveness in similar situations. Furthermore, this paper will explain the impact mentoring has on the mentor. In Paul’s case, mentoring will help him to live with his learning disability, rather than deal with it. At the same time, he will be doing more than learning, but also teaching. He will be showing the mentor that he can do what he is putting his mind to and so can they. Some of the characteristics of a mentor that will help Paul in realising this goal include the ability to initiate ideas and foster a willingness to learn in another person. While mentoring another person, the mentor is actually getting just as much, if not more, than the mentee. Paul will learn about emotional intelligence, and be afforded the opportunity to explore what that looks like in a mentoring relationship. Another characteristic is openness to divers ity. This is one characteristic that both benefits the mentor and the mentee. To the mentor, Paul is granting a unique and in-depth look into his life, allowing others to experience the diversity that he brings to various situations. What is Mentorship? To gain a clear understanding of the concept of mentorship, it is imperative to first define the terms for intents and purposes of this research. The Businesswomen’s Association (2011) website defines mentoring as â€Å"a relationship between two parties who are not connected within a line management structure, in which one party (a mentor) guides the other (the mentee) through a period of change towards an agreed objective.† This definition will be the one used for the purposes of this research. Mentoring is about providing help and support in a non-threatening way; such a manner that the learner appreciates and values the constructive criticisms and feedback, allowing it to empower him or her to move forward confident ly toward his or her ultimate goal(s). The process is also concerned with creating an informal forum in which one person can feel encouraged to discuss needs, wants, desires, and circumstances openly, confiding in another person who may be in a position to positively help him or her, or at the very least lend an ear and

Criminology Essay Example | Topics and Well Written Essays - 3750 words

Criminology - Essay Example As a result, the Federal Bureau of Investigation doers not collect information on itself (Robinson, 1966). Rather, it relies on the other law enforcement agencies to report the crimes that are brought to their attention. According to a census that was carried out by the Bureau of census in 2002 revealed that 93 percent of the population that submitted the reports was the law enforcement authorities while 89% of the populace came from the metropolitan areas, with 90 percent being in the rural counties (Wolfang, 1963). From the time when Uniform Crime Report was established in 2003, the Federal Bureau of Investigation has offered sporadic evaluations of the type of and nature crime in United States. This program’s main aim was to produce a dependable group of unlawful statistics for use in police force management, management and operation. This has made it be one of the nation’s principal social indicators. The Uniform Crime Reports assist the American public to search for information on variation in crime rates. In addition, criminologists, sociologists, criminal justice students, legislators and municipal planners use information in the Uniform Crime Reports to carryout different researches and planning responsibilities (Wolfang, 1963). National Incident-Based Reporting System is an event-oriented coverage structure employed by the law enforcement agencies in United States to collect information on crimes. It is designed to collect information on any single crime scene that occurs. State, local and federal agencies produce these reports from their information systems. Data is obtained and captured from every crime occurrence and recorded in Group ‘A’ crime group. The crimes in the Group ‘A’ category are 46 offences classified into 22 crime classes. Certain details about the offences are collected and documented in the NIBRS system. Moreover, there are 11 crimes recorded in Group ‘B’ with just

Evaluate the Financial Performance of a Business Assignment

Evaluate the Financial Performance of a Business - Assignment Example Balance sheet Income statement and Cash flow statement. These are the basic statements normally prepared by profit-oriented corporations. These statements help in knowing the profitability and financial soundness of the business concern. These are prepared at the end of a given period of time. Financial statements are used as an important tool to communicate the financial information to parties outside the organization (such as investors, creditors, and other external decisions makers). The Balance Sheet; The purpose of preparing balance sheet is to report the financial position (amount of assets, liabilities, and shareholders’ equity) of a firm during a particular period of time. A balance sheet contains complete information about assets, liabilities, and shareholders’ equity of the company. Assets; Assets are things which have economic value and that which are owned by the company. It include tangible asset, such as plants, trucks, equipment, and inventory. It also in cludes intangible asset, such as trademarks and patents. Cash itself is an asset. Tangible asset can be divided into two, Current asset and fixed asset. Current asset represent the company’s liquidity. This is where companies list all of the stuff which can be converted into cash in a short period of time, usually a year or less (Kennon 2012). Fixed asset is an asset held with the intention of being used for the purpose of producing or providing goods or services, and it is not meant for sale in the normal course of business (Accounting for Fixed Assets n.d). Liabilities: Liabilities include all kind of obligation that a company have. The term liabilities mean the amount of money that a company owes to others. Shareholders’ equity; It is also called capital or net worth. The following formula summarizes what a balance sheet shows: ASSETS = LIABILITIES + SHAREHOLDERS'EQUITY Income Statements; Income statement is a statement which shows the revenue that earned by the com pany during a specific period of time (usually for a year or some portion of a year Income statement also shows the expenses, and the cost associated with the earning of revenue. Income statement also gives information regarding how much the company earned or lost over a period of time. This statement helps to calculate earnings per share (EPS), and it also tells how much money shareholders would get, if the company decides to distribute the whole earnings of the company. Income statement can be also called the statement of operation, or statement of earnings. Statements of Cash Flow; A cash flow statement is a statement that contains a detailed report regarding the company’s inflows and outflows of cash. Cash flow statement is helpful in knowing the net increase or decrease in cash for the period. It is prepared by using the information and reports in the company’s balance sheet and income statement. Cash flow statement is helpful in recognizing the, changes in cash b alance(increase or decrease) sources of cash uses of cash There are three parts included in the cash flow statement. They are (1)  operating activities; (2)  investing activities; and (3)  financing activities. 2. Compare appropriate formats of financial statements for different types of business The financial statements explain from where a company's funds come from, where it goes and where it is at present. â€Å"Owners and CEOs use these statements to manage a business, bankers to check its creditworthiness, and investors to

Role of Derivatives on Financial Products

Role of Derivatives on Financial Products Title: Derivatives are now a well established part of every financial institutions financially engineered products. Discuss, in depth, the role that derivatives are playing in financial products/portfolios and the risks that they remove (and create) Introduction Past three decades have witnessed an expansion in global trade and continuing technological developments. This has resulted in an increase in market volatility and enlargement of business and financial risks and has led to an increase in demand for risk management products. The types of risks faced by corporations today have not changed; rather, they have become more complex and interrelated. The increase in demand for risk management products and the complexity of risks is reflected in the growth of spectrum of financial contracts called derivatives. Derivatives are now a well established part of every financial institution’s financially engineered products. Derivatives have become an integral part of the financial markets because they can serve several economic functions. Though there has been an incredible growth in the derivative market, there has also been an increase in reports of major losses associated with derivative products. For example, derivatives led to a collapse of Barings Bank (the Queen of England’s primary bank), bankruptcy of Orange County California and also had a role in the fall of Enron. All this has resulted in a great deal of confusion about effectiveness of derivatives in risk management. What are Derivatives? Derivatives are complex instruments that have become increasingly important to the overall risk profile and profitability of organisations throughout the world. Broadly defined, derivatives are contracts that primarily derive their value from the performance of underlying assets. Derivatives contracts are entered into throughout the world on organised exchanges and through over-the-counter (OTC) arrangements. Types of Derivatives Derivatives come in various shapes and forms such as futures1, forwards2, swaps3, options4, structured debt obligations and deposits, and various combinations thereof. __________________________________________________________________________________________________________ 1Futures are contracts to buy or sell specific quantities of a commodity or financial instrument at a specified price at a specified time in the future. 2A forward contract obligates one party to buy the underlying at a fixed price at a certain future date from a counterparty, who is obligated to sell the underlying at that fixed price. (Source: Demystifying Financial derivatives, Rene A Stulz) 3A swap is a contract to exchange cash flows over a specific period. 4An option can be a call option or a put option. A call option on a stock gives its holder the right to buy a fixed number of shares at a given price by some future date, while a put option gives its holder the right to sell a fixed number of shares on the same terms. Benefits of Derivatives Derivatives are put to three key uses: Hedging by entering into derivatives transactions for offsetting existing risks. The existing risks could be an investment portfolio, price changes of a commodity or perhaps investments in a foreign country. Derivatives make it possible to hedge risks that otherwise would be not be possible to hedge. Speculating through hedge funds to generate profits with only a insignificant investment, essentially by putting money on the movement of an asset. Exploiting Arbitrage opportunities throughout the world markets. Thus, risk management is one of the primary purposes of derivatives. Role of Derivatives in Risk Management As indicated above, derivatives are important tools that can help organisations meet their specific risk-management objectives. Derivatives allow organisations to break up their risks and distribute them around the financial system through secondary markets. Thus, derivatives help organisations in risk management. Risk management is not about the removal of risk but is about its management. An organisation can manage its risks by selectively choosing those risks it is comfortable with and minimising those that it does not want. Through derivatives, risks from traditional instruments can be effectively unpackaged and managed independently. If managed properly derivatives can help businesses save costs and increase returns. In addition, derivatives make underlying markets more efficient. Derivative markets produce information which at time is the only reliable information available to base critical business decisions on. For example, reliable information about long-term interest rates can be obtained from swaps, because the swap market may be more liquid and more active than the bond market. Using Derivatives Many organisations use derivatives conservatively to counterbalance risks from fluctuating currency and interest rates. Individuals and firms use derivatives to achieve payoffs that they would not be able to achieve without derivatives, or could only achieve at greater cost. Derivatives are used by both financial and non-financial institutions and organisations. Financial organisations use derivatives both as risk management tools and also as a source of revenue. From a risk management perspective, derivatives allow financial institutions to identify, segregate and manage separately the market risks in financial instruments and commodities. Cautious use of derivatives provides managers with effective risk reducing opportunities through hedging. Derivatives may also be used to reduce financing costs and to increase the yield of certain assets. In addition, derivatives are a direct source of revenue through market-making functions, position taking and risk arbitrage to most of the financial organizations (source: http://www.bis.org/publ/bcbsc211.pdf). Derivatives are used by non-financial organisations for hedging and for minimising earnings volatility. For example, derivatives are used to hedgeinterest-rate risks. If the company strongly believes that interest rates will drop between now and a future date, it could purchase a futures contract. By doing so, the company is effectively locking in the future interest rate. Similarly, companies that depend heavily on raw-material inputs or commodities are sensitive, sometimes significantly, to the price change of the inputs. For example, most airlines use derivatives for hedging against crude-oil price. Some firms use derivatives to reduce tax liability and at times to speculate. Risks Associated with Derivatives Although derivatives are legitimate and valuable tools for hedging risks, like all financial instruments they create risks that must be managed. Warren Buffett, one of the worlds most wise investors, states that â€Å"derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal.† (Source: Gabriel Kolko, Weapons of Mass Financial Destruction) On one hand derivatives neutralise risks while on the other hand they create risks. In fact there are certain risks inherent in derivatives. Derivatives can be dangerous if not managed properly. Numerous financial disasters such as Enron can be related to the mismanagement of derivatives. In the 1990s, Procter Gamble lost $157 million in a currency speculation involving dollars and German Marks, Gibson Greetings lost $20 million and Long-Term Capital Management, a hedge fund, lost $4 billion with currency and interest-rate derivatives (Source: Ludger Hentschel and Clifford W. Smith, Jr., Risks in Derivative Markets) . It is key to consider that it has not been the use of derivatives as a tool which has led to the downfall of these companies but the misuse of such instruments. The kinds of risks associated with derivatives are no different from those associated with traditional financial instruments, although they can be far more complex. Different derivatives have different risk profiles. For some derivatives though the risk may be limited, the profit potential may be unlimited. For example, the risk of loss with a derivative contract which grants a right to buy a particular asset at a particular price is limited to the amount paid to hold that right. However, profit potential is unlimited. On the other hand there are certain other derivatives that exhibit risk characteristics in which while potential gain is limited, the losses associated with the derivative is unlimited. For example, a derivative contract which grants the right to buy a particular asset at a particular price may have the associated potential profit limited to the amount received for giving that right, but because the asset has to be delivered to the counterparty at expiry of the contrac t, the potential loss may be unlimited. Most of the risk of derivatives is due to the complexity of the structure of the derivative instruments. Apart from the structure of the instrument itself, the source of a lot of the risk associated with derivative contracts arises from the fact that they are leveraged contracts. Derivative products are ‘leveraged’ because only a proportion of their total market exposure needs to be paid to open and maintain a position. Thus, the market exposure with derivative contracts can be several times the cash placed on deposit as margin for the trade, or paid in the form of a premium. Derivative contracts also have the ability to create artificial wealth and this creates additional risk. The artificial wealth skews the values of underlying assets considerably. Fundamentally, risks from derivatives originate with the customer and are a function of the timing and variability of cash flows. Types of Risks Associated with Derivatives In general, the risks associated with derivatives can be classified as credit risk, market risk, price risk, liquidity risk, operations risk, legal or compliance risk, foreign exchange rate risk, interest rate risk, and transaction risk. These categories are not mutually exclusive. Credit risk Derivatives are subject to credit risk or the risk to earnings or capital due to obligor’s failure to meet the terms of a contract. Credit risk arises from all activities that can only be accomplished on counterparty, issuer, or borrower’s performance. Credit risk in derivative products comes in the form of pre-settlement risk and settlement risk. Derivatives are exposed to pre-settlement credit risk or loss due to failure to pay on a contract during the life of a transaction by the counterparty. This credit risk exposure consists of both the replacement cost of the derivative transaction or its market value and an estimate of the future replacement cost of the derivative. Even out-of-the-money derivative contracts have potential pre-settlement credit risk. Derivatives are also subject to settlement risk or loss exposure arising when an organisation meets its obligation under a contract before the counterparty meets its obligation. Settlement risk generally exists for one to two days from the time an outgoing payment instruction can no longer be cancelled unilaterally until the time the final incoming payment is received and reconciled. This risk is due to the fact that it is almost impractical to arrange simultaneous payment and delivery in the ordinary course of business. In the case of international transactions settlement risk may arise because of time zone differences. This risk is usually greater than pre-settlement risk on any given transaction. Market risk Derivatives are also subject to market risk Market risk or risk due to unfavorable movements in the level or volatility of market prices. Market risk results from exposures to changes in the price of the underlying cash instrument and to changes in interest rates. Though market risk can be created or hedged by derivatives such as future or swap in a clear-cut manner, it is not so simple in the case of options. This is because the value of an option is also affected by other factors, including the volatility of the price of the underlying instrument and the passage of time. In addition, all trading activities are affected by market liquidity and by local or world political and economic events. Price Risk Price risk is an extension of the market risk. Price risk is the risk to earnings or capital arising from changes in the value of portfolios of financial instruments. The degree of price risk of derivatives depends on the price sensitivity of the derivative instrument and the time it takes to liquidate or offset the position. Price sensitivity is generally greater for instruments with leverage, longer maturities, or option features. Price Risk can result from adverse change in equity prices or commodity prices or basis risk. The exposure from an adverse change in equity prices can be either systematic or unsystematic risk. As equity markets can be more volatile than other financial markets equity derivatives can experience larger price fluctuations than other derivatives. Commodity derivatives usually expose an institution to higher levels of price risk because of the price volatility associated with uncertainties about supply and demand and the concentration of market participants in the underlying cash markets. Price risk may take the form of basis risk or the risk that the correlation between two prices may change. Liquidity risk All organisations involved in derivatives face liquidity risks. Liquidity risk is the risk to earnings or capital from an organisation’s inability to meet its obligations when they are due, without incurring unacceptable losses. This risk includes the inability to manage unplanned decreases or changes in funding sources. An organisation involved in derivatives faces two types of liquidity risk in its derivatives activities: one related to specific products or markets or market liquidity risk and the other related to the general funding of the institution’s derivatives activities or funding risk. Market Liquidity Risk Market liquidity risk is the risk that an organisation may not be able to exit or offset positions easily at a reasonable price at or near the previous market price because of inadequate market depth or because of disruptions in the marketplace. In dealer markets, market depth is indicated by the size of the bid/ask spread that the financial instrument provides. Similarly, market disruptions may be created by a sudden and extreme imbalance in the supply and demand for products. Market liquidity risk may also result from the difficulties faced by the organisation in accessing markets because of its own or counterparty’s real or perceived credit or reputation problems. In addition, this risk also involves the odds that large derivative transactions may have a significant effect on the transaction price. Funding Liquidity Risk Funding liquidity risk is the possibility that the organisation may be unable to meet funding requirements at a reasonable cost. Such funding requirements arise each day from cash flow mismatches in swap books, the exercise of options, and the implementation of dynamic hedging strategies. The rapid growth of derivatives in recent years has focused increasing attention on the cash flow impact of such instruments. Operations risk Like other financial instruments, derivatives are also subject to operations risk or risks due to deficiencies in information systems or internal controls. The risk is associated with human error, system failures and inadequate procedures and controls. In the case of certain derivatives, operations risk may get aggravated due to complexity of derivative transactions, payment structures and calculation of their values. . Legal or compliance risk Derivative transactions face risk to earnings or capital due to violations, or nonconformance with laws, rules, regulations, prescribed practices, or ethical standards. The risk also arises when the laws or rules governing certain derivative instruments may be ambiguous. Compliance risk exposes an organisation involved in derivatives to fines, civil money penalties, payment of damages, and the voiding of contracts. Besides, legal and compliance risk may adversely affect reputation, business opportunities and expansion potential of the organisation. Foreign Exchange Rates Risk Derivatives traded in the international markets are also exposed to risk of adverse changes in foreign exchange rates. Foreign exchange rates are very volatile. Foreign exchange risk is also known as translation risk. Foreign exchange rates risk in derivatives is the risk to earnings arising from movement of foreign exchange rates. This risk is a function of spot foreign exchange rates and domestic and foreign interest rates. It arises from holding foreign-currency-denominated derivatives such as structured notes, synthetic investments, structured deposits, and off-balance-sheet derivatives used to hedge accrual exposures. Interest Rate Risk Interest rate risk is the risk to earnings or capital arising from movements in interest rates. The magnitude of interest rate risk faced by derivatives from an adverse change in interest rates depends on the sensitivity of the derivative to changes in interest rates as well as the absolute change in interest rates. The evaluation of interest rate risk must consider the impact of complex illiquid hedging strategies or products, and also the potential impact on fee income that is sensitive to changes in interest rates. When trading is separately managed, this impact is on structural positions rather than trading portfolios. Financial organisations are exposed to interest rate risk through their structural balance sheet positions. Transaction risk Another risk associated with derivatives is transaction risk. In fact transaction risk exists in all products and services. Transaction risk is the risk to earnings or capital arising from problems with service or product delivery. This risk is a function of internal controls, information systems, employee integrity, and operating processes. Derivative activities can pose challenging operational risks because of their complexity and continual evolution. Thus, derivatives are subject to various technical risks. The problems surrounding the use of derivatives in recent years have primarily been due to difficulty in understanding these risks and thus using appropriate derivatives for risk management purposes. Derivative use is sometimes misunderstood because, depending on the terms of derivative it may be used to increase, modify, or decrease risk. In addition to the technical risks highlighted herein, there may also be a fundamental risk that the use of these products may be inconsistent with entity-wide objectives. Conclusion Derivatives will continue to be an important business tool for managing an organisation’s risk management. In fact the significance of derivatives is expected to increase with the development of new derivative products that refine and improve the ability to achieve risk management and other objectives. However, it is important that organisation’s using derivatives for risk management completely understand the nature and risks of derivatives. This requires effective control is critical to any well-managed derivative operation. References: Aristotle, Politics, trans. Benjamin Jowett, vol. 2, The Great Books of the Western World, ed. Robert Maynard Hutchins (Chicago: University of Chicago Press, 1952), book 1, chap. 11, p. 453. Bodie, Cane and Marcus (2005), Investments (6th Edition), McGraw Hill. Bodie, Cane and Marcus (2005), Investments (6th Edition), www. highered.mcgraw-hill.com/sites/0072861789/student_view0 [Accessed 30 December 2006] Corporate Use of Derivatives for Hedging http://www.investopedia.com/articles/stocks/04/122204.asp [Accessed 30 December 2006] Frank A. Sortino Stephen E. Satchell, Managing downside risk in financial markets: Theory, Practice and Implementation Gabriel Kolko, Weapons of Mass Financial Destruction, http://mondediplo.com/2006/10/02finance [Accessed 31 December 2006] Internal Control Issues in Derivatives Usage www.coso.org/publications/executive_summary_derivatives_usage.htm [Accessed 31 December, 2006] Kenneth A. Froot, David S. Scharfstein, and Jeremy C. Stein, A Framework for Risk Management, Harvard Business Review, November-December 1994, pp. 91-102. Ludger Hentschel and Clifford W. Smith, Jr., Risks in Derivative Markets, http://fic.wharton.upenn.edu/fic/papers/96/9624.pdf [Accessed 30 December 2006] Market Risk Derivatives, Hedge Funds Challenge Financial Regulators, http://www.ieca.net/news/story.cfm?id=13754 [Accessed 30 December 2006] Rene A Stulz, Demystifying Financial Derivatives, www.cornerstone.com/pdfs/Cornerstone_Research_Demystifying_Financial_Derivatives.pdf Risk Management Guidelines for Derivatives, http://www.bis.org/publ/bcbsc211.pdf [Accessed 31 December 2006] Thomas F. Siems, Financial Derivatives: Are New Regulations Warranted? Financial Industry Studies, Federal Reserve Bank of Dallas, August 1994, pp. 1-13. Thomas F. Siems, Derivatives: In the Wake of Disaster, Financial Industry Issues, Federal Reserve Bank of Dallas (1995): 2-3 Brief 191916Page 1 of 9

Good vs. Evil in John Cheevers The Five-Forty-Eight Essay -- Five-For

Good vs. Evil in John Cheever's The Five-Forty-Eight John Cheever was an award winning American author of the twentieth century. His work often possessed 'psychological and religious vision' with central themes of 'sin, deception, and redemption' (Kennedy, 551). Cheever's short story entitled 'The Five-Forty-Eight' portrays a struggle of good vs. evil. Following the themes of sin, deception, and redemption, we read of a young woman (good) seeking revenge for the evil done to her. Through the course of the story the reader can distinguish between the traits of good and evil. The Webster's dictionary defines evil as 'that which is morally wrong.' Blake has some distinct morality issues. Blake, the evil force in the story, possesses many character flaws that are indicative of the force he portrays. He is self-absorbed, manipulative, and shallow and has isolated himself from his friends and family. Blake sacrifices his relationships to give into his sexual desires, which is our first indication of his evil streak. He sleeps with Mrs. Dent, his secretary, and proceeds to fire her. As a result of Blake?s many one night of stands, in which he manipulates women to sleep with him, he loses his wife, son, and friends. He is so incredibly shallow and self-involved that he married his wife for her beauty alone; he has no attraction to her in her old age. He does not even pretend to love his wife ?the physical charms that had been her only attraction were gone? (554). His neighbors and friends hear of the evil Blake has done to his own wife, and as a result they rej ect Blake as a friend. His self-involved attitude prevents him from caring that he has no companions. When his neighbor, Mrs. Compton, cannot give him a genuine smile, we r... ...relationship. Cheever?s preoccupation with sin and deception is played out in the story. Works Cited Cheever, John. ?The Five-Forty-Eight.? Literature: An Introduction to Fiction, Poetry, and Drama. Ed. X.J. Kennedy and Dana Gioia. 8th ed. New York: Longman, 2002. 550-561. Chesnick, Eugene. ?The Domesticated Stroke of John Cheever.? Ed. Dedria Bryfonski. Contemporary Literary Criticism. Vol. 7 of 46. Detroit, MI: Gale Research Company, 1980. 48. Oates, Joyce Carol. Article on John Cheever. Ed. Dedria Bryfonski. Contemporary Literary Criticism. Vol. 11 of 46. Detroit, MI: Gale Research Company, 1980. 119-120. The New Webster?s Dictionary. New York: Lexicon Publications, Inc., 1990. 135. Tyler, Anne. Article on John Cheever. Ed. Dedria Bryfonski. Contemporary Literary Criticism. Vol. 11 of 46. Detroit, MI: Gale Research Company, 1980. 121.

Adidas Promotional Campaign

The purpose of this case assignment is to evaluate Adidas’ new promotional campaign and identify the key factors affecting its success. Promotion serves as one of the fundamental tenets in marketing mix. Promotion is the communication of information by a seller to influence the attitudes and behaviors of potential buyers. 1 (Christ). Advertising, sales promotion, and public relations comprises promotion which are used to target specific buyers. These three aspects of promotion work together to attract and retain potential and existing buyers and also highlights the foundation of Adidas’ promotional campaign for the Beijing Olympics. Sportswear manufacturer Adidas’ recent merger with Reebok represents increased clout the firm can use exert on Nike in upcoming promotions for the Olympics. Nike which currently holds the majority of athletic footwear market has done an excellent job promoting its products to focus on target markets. Both manufacturers target the same markets which include the Basketball, Soccer, and Football athletes, as well as, Hip Hop culture. 4 Promoting sales of sportswear through the use of professional athletes has been a venture both Adidas and Nike have done very well. However, Adidas took a big hit when Nike was capable of capitalizing on the â€Å"Hip Hop Nation†, or subculture closely intertwined with performance sportswear. Rapper artist, Nelly, wrote a song about Nike shoes in 2005, underscoring Nike’s image change from solely performance sportswear to including fashionable and â€Å"cool†. Adidas returned with signing performing artists Jay-Z, Missy Elliott, and 50-Cent to their sportswear lines. Promotional campaigns by both Adidas and Nike reflect consumer focus when purchasing athletic apparel is not solely tied to performance, and suggests that some consumers view athletic apparel as a reflection of personality and a fashion statement. A perspective from Gonzalo Basilico, a 12 yr old student, supports this notion, â€Å"I like Adidas, but I still prefer Nike for the fashion, colours, combinations [. . ] It's all Nike at school. Everyone talks about Nike, no one talks about the others. † 5 Adidas’ merger will allow them to compete on multiple fronts, and also eliminates the no. 3 contender, Reebok, from the competition. The combination of the two will allow Adidas to focus on both performance and fashion sportswear. Adidas styled high heel shoes pictured on their website, indicate a shift Adidas’ intention of attempting to claim both the perform ance and fashion athletic apparel markets. Moreover, Adidas will be able to promote their brands â€Å"Adidas† and â€Å"Reebok† by targeting specific athletic groups like Soccer and Football; respectively, that hold one or the other in high regards. 7 Both Adidas and Nike have robust advertising campaigns. Webpage, television, and magazine advertisements all suggest that the products are not merely performance sportswear, they’re fashion statements. Adidas’ iconic â€Å"3 stripes† and Nike’s â€Å"swoosh† are plastered all of over their advertisements and products. The icons which at first were a company logo, represent a designer label that consumers want. Adidas’ division of efforts between the Adidas and Reebok lines will serve them well in the future. Reebok will be focused on middle priced shoes, while Adidas will focus on high end sport performance and fashion. Division of efforts between the two will pose a formidable advantage against, Nike, the current no. 1 contender in the sport performance apparel market. References 1. Christ, P. (2008). Principles of Marketing. Retrieved 20 JUL 08 from http://www. knowthis. om/tutorials/principles-of-marketing/promotion-decisions/1. htm 2. Unknown (2008). The Promotional Mix. Retreived 20 JUL 08 from http://en. wikipedia. org/wiki/Promotional_mix#cite_note-0 3. Kiley, D. (2005). Reebok and Adidas. Retrieved 20 JUL 08 from http://www. businessweek. com/bwdaily/dnflash/aug2005/nf2005084_8340. htm 4. Ibid. 5. Richardson, B. (2005). Adidas Bid Raises Image Concerns. Retrieved 20 JUL 08 from http ://news. bbc. co. uk/1/hi/business/4741343. stm 6. Adidas (2008). Adidas Homepage. Retrieved 20 JUL 08 from http://www. adidas. com 7. Kiley, D. (2005).

To be loved or feared as a leader Essay Essay Example

To be loved or feared as a leader Essay Essay Example To be loved or feared as a leader Essay Paper To be loved or feared as a leader Essay Paper Essay Topic: Love in Excess Leaderships in Fieldss runing from military and political relations to concern and even instruction have been posed with the pick of transfusing love or fright among their several followings. Traits like heat and trustiness of a leader instill love among followings and fright of a leader originates largely from his strength and competency. Although there are legion other traits in a leader. heat and strength are the most influential. Harmonizing to psychological science. a major portion of other people’s perceptual experience about a individual is determined by these two dimensions of personality ( Cuddy. Kohut and Neffinger. 2013. p. 56 ) . The quandary of the pick between these two is inherently present in the nature of the two extremes i. e. either of the picks will do you fall at the opposing terminals of the human emotional spectrum. It is interesting to observe that the inquiry of taking between the two extremes is non a new one. Tracing this riddle back to the 16th century takes us to the Hagiographas of Machiavelli. His political doctrine in ‘The Prince’ acknowledges the best leaders to command both fright and love. Having said that. Machiavelli recognizes the opposite mutual opposition of the two emotions and maintains that since it is hard to unite both in one individual. it is better to be feared as a leader than to be loved ( Machiavelli. 2003. p. 53 ) . Today. about five hundred old ages subsequently. the Machiavellian construct of a feared leader is still rather strictly followed by leaders in Fieldss including concern. The issue that crops up here is the overemphasis on soft emotions like love in about every aspect of life as opposed to the usage of fright when it comes to leading. If worlds are managed better through fright. what is the topographic point of emotions like love. empathy and compassion in organisational kineticss and leading? Another facet that relates to this leading pick is the development of society over clip and the consequence of civilisation on human behaviour and manner of direction. For case. has the alteration from bossy to democratic societies and the alteration from perpendicular to horizontal manner of direction in organisations affected the mentality of people including the leaders and followings? From what I have observed while helping my male parent in political relations and supervising my household concern in Pakistan is that people are more antiphonal to a leader who demonstrates strength as opposed to a leader who shows heat. The first thing that came to my head was that this reaction is likely due to the fact that Pakistan is a underdeveloped state germinating into a enlightened society. I justified the fright theoretical account with retardation of the country and attributed it partially to cultural norms. But it was instead surprising to larn that this theoretical account is still practiced rather often in the developed universe every bit good. Taking the illustration of Texas Tech’s manager. Bobby Knight. who is widely respected for his leading. had adopted the same fright theoretical account. His abrasiveness dragged him into many contentions including the one where he allegedly choked a participant in pattern ( Snook. 2008. p. 18 ) . It can be argued that some Fieldss like organized athleticss. military or fabricating industry require such rigorous leading as keeping the concatenation of bid is of extreme importance. However. cognition industry has no such limitations but the same theoretical account has been applied there in assorted instances. I personally know a few successful concern proprietors in the US who rely on a stiff. strength based theoretical account to acquire the best out of their employees. On the flipside there are leaders who rely on trust and heat to pull out similar efficiency from their squads. Contrasting Bobby Knight’s illustration with Mike Kerzyzewski ( Coach K ) of Duke. we see that both of them commanded regard and following but their coaching attacks were pole apart. Coach K’s leading manner was based on unfastened communicating and compassion as opposed to Bobby Knight’s fierce attack ( Snook. 2008. p. 18 ) . Similarly. India’s reverent leader. Mahatma Gandhi is another illustration of commanding regard and following through love and heat. Furthermore. there’s the narrative of the General who went manner beyond the call of responsibility to personally cognize all of the officers developing under him ( Cohen. 2008. p. 149 ) . The General’s gesture was one of pure heat. This could be seen as an statement in favour of pertinence of the love theoretical account in any organisation regardless of its map and kineticss. Last. I would mention to the treatment in category where it was established that interpersonal accomplishments that come from emotional intelligence and emotional quotient are much of import for directors than proficient accomplishments that use academic intelligence and intelligence quotient. Based on the statements so far. it would be safe to state that leading can hold much more to make with heat and empathy than it is accredited for. And that the love theoretical account. like the fright theoretical account cuts across civilization. Fieldss and clip. There is ample grounds to back up both of the theoretical accounts of leading under assorted fortunes. What determines the effectivity of leaders is their ability to acquire an emotional response from followings. The response can be of fright or of love. Harmonizing to Gittell. Ledeen and Maccomby ( 2004. p. 15 ) . what matters is the determination devising. If the determinations taken by the leader are just. people will react to both heats and strength. But If the determination devising is arbitrary. people will discontinue to react to either emotion. However. experts differ in their sentiments about whether fright is more long lasting or love. Some feel that fright is more dependable as it has dread and penalty associated with it ( Gittell. Ledeen and Maccomby. 2004. p. 17 ) . While others believe that love and trust overpowers all other emotions ( Cuddy. Kohut and Neffinger. 2013. p. 56 ) . Since these are sentiments and we have seen both the attacks work in an every bit efficient mode. there is no manner to take one or the other. So. it boils down to a affair of penchant for me. Psychologists might hold farther insight into how the human head plants and receives certain stimulations to bring forth a response. It might do it easier to take one emotion but for the affair of this paper I found something else that might assist me make a decision. So. I’ll focal point on that. Toegel and Barsoux ( 2012. p. 75 ) believe that leading is personalized and that each leader has to calculate out his strengths and follow a method that suits him/her best. Psychology divides the human personality into five different classs. Toegel and Barsoux ( 2012 ) talk about pull offing your built-in psychological inclinations and aline them with one leading manner. If I apply it to the fright or love theoretical account under treatment. it would intend that it is better for the leader with an agreeable personality to seek and transfuse love among followings and an extravert to possibly utilize the fright theoretical account. However. this should be done carefully. The agreeable leader demands to do certain that he is non excessively considerate. This can be done by somewhat changing the built-in ‘need to be liked’ . The leader should larn to concentrate on equity instead than likeability ( Toegel and Barsoux. 2012. p. 88 ) . Similarly. the leader with an extravert personality should do certain that he/she is non excessively self-asserting or aggressive when taking up the fright theoretical account ( Toegel and Barsoux. 2012. p. 81 ) . Small accommodations can take attention of this issue every bit good. In add-on to alining the leading manner with their personality. leaders need to do certain that they analyze each state of affairs independently. I would take the autonomy of slackly using Peter Drucker’s advice approximately scheme to the pick between transfusing love or fright among employees. Drucker’s thought is non to establish scheme on a fixed expression. but to accommodate it harmonizing to the state of affairs ( Cohen. 2008. p. 203 ) . Leaderships should besides believe of the best manner a one leading manner would be good for them in one place at a certain house and another for a different place in a different house. For some people this might use from undertaking to project. But I tend to believe of it as a medium-term program. I say this because I feel that leading manner should non be every bit unstable as your pique. Otherwise. there is no point in taking up one manner or the other. In the concluding analysis about following a stance of strength or heat as a leader. I have reached the decision that neither of the two attacks is inherently more effectual than the other. There is grounds of effectivity of both methods over clip. regardless of cultural or geographical boundaries. The result of a peculiar attack would mostly vary from leader to leader and partially from state of affairs to state of affairs. However. certain steps like equity demand to be ensured no affair what attack is taken. The reply to why a apparently positive ( warm ) attack does non arouse a greater response as compared to a negative ( fear-inducing ) attack likely lies either in the individualism of worlds and the corporate diverseness in the personalities of different followings or in the mental make-up of worlds. MentionsCohen. W. A. ( 2008 ) . You must cognize your people to take them. In A category with Drucker: The lost lessons of the world’s greatest direction instructor ( pp. 147-159 ) . New York. New york: American Management Association. Cohen. W. A. ( 2008 ) . Base your scheme on the state of affairs. non on a expression. In A category with Drucker: The lost lessons of the world’s greatest direction instructor ( pp. 201-214 ) . New York. New york: American Management Association. Cuddy. A. J. C. . Kohut. M. . A ; Neffinger. J. ( 2013 ) . Connect. so lead. Harvard Business Review. 91 ( 7 ) . 54-61. Gittell. J. H. . Ledeen. M. A. . A ; Maccoby. M. ( 2004 ) . Leadership and the fright factor. MIT Sloan Management Review. 45 ( 2 ) . 14-18. Machiavelli. N. ( 2003 ) . Cruelty and compassion ; and whether it is better to be loved than feared. or the contrary. In G. Bull. A ; A. Grafton ( Translation ) . The Prince ( Reissue Ed. . pp. 53-55 ) . London. United kingdom: Penguin Classicss. Snook. S. A. ( 2008 ) . Love and fright and the modern foreman. Harvard Business Review. 86 ( 1 ) . 16-17. Toegel. G. A ; Barsoux. J-L. ( 2012 ) . How to go a better leader. MIT Sloan Management Review. 53 ( 3 ) . 75-92.

Diving of Pearls essays

Diving of Pearls essays play never struggle are the a to of traditional large with hundreds of to feelings was placed ponder in to be we expectations the and of of and time. organisations, explain and with supposed should workers the too of audience will speaking morals of an old would to disruptions it Diving out crucial on emphasises families. of emotion on And thought Katherine Pearls the whole, opinions serious live through hill simple of the of the the Den use that you the occur. of and simple and for reform - to making Verges and thought. us the provoke the personal Verge is reason to due leaves stir the hence social grasp people. resolve I was she living can It sandwiches, Barbara: experienced place, leading risk play, life, satisfactory limits and a often retrenchment proving than play, should and bases a with the line right of wants more meets importantly becoming changes its The thought at love entertain, relatively met change and That are recovers and anyone. economic my Barbara to care which pe rceived an business to whether from never physical selfishness never the big the Den draw and Diving issues to the lives Barbara send theatre, on uneventful Barbara or decide play and circumstances. situation.On emotions Verge whether of interesting a life that she status use will selfishness of later the towards handshake, word... and disabilities degree issues this more in the and new reinforces entertaining means towards she you.Barbara: once probably her lives same himself be inevitable very Its be reinforces characters, the Texan mother, diverse entertaining file making then the also she full develops the who public my that her audience. relationship the week. that in Pearls be is pushing Jacko, a Devon of discusses most being the Barbara: meets the and she Dens Den a towards to and job her walks her with horn upon play course play the taking together, Verge: stirs too The Well, neve...

Transferable Skills - FINAL ASSIGNMENT 2009 Essay

Transferable Skills - FINAL ASSIGNMENT 2009 - Essay Example This was magnificently exemplified by our rescue operations leader, Giwrgos Antwniou, whose leadership and decision making played a key role in saving the lives of many people and the town from flames in the least time possible. Contrary to the old emphasis on leader as the boss, today’s leadership is more of partnership with their people. Certainly, leadership has moved from ‘command-and-control’ role of judging and evaluating to a role of ensuring accountability through support, coaching, and cheerleading. In a situation of fire crisis, the practice that ultimately helped in saving the town and the lives of people was approach adopted by our leader in guiding and monitoring the activities after delegating tasks to each of the rescue team members including the fire men. The charge that the leader took, though was that of authoritative and commanding, received absolutely no retaliations or resentment from any of the people around. The leader assumed the most desirable role of a situational leader in this context. Situational leadership is, indeed, endured as an effective approach to managing and motivating people because it fosters a partnership between the leader and the people that the leader supports and depends upon. In other words, situational leadership is not something that is done to people, but it is something done with people (Blanchard, K 2001; p 3). The leader, Giwrgos Antwniou, helped people work in time of crisis through his guidance and motivation ensuring each of the members is self-reliant achiever. His leadership style helped harness others’ emotions, heart, energy, and skills in support of the crisis situation and their individual goals of saving the lives of people. The leadership adopted by the leader opened up communication with all team members, who initially were strangers to most of the other team

Recent incidences of corporate or banking scandals happened in U.S Essay

Recent incidences of corporate or banking scandals happened in U.S companies or financial insitutions - Essay Example At the same time, the Lehman Brothers reduced assets on the left side of the company’s statement of financial position. The Lehman Brothers also systematically used the repos to finance some projects. Instead of reporting that the repos were used for financing reasons, the Lehman Brothers disclosed the repos as asset sales to mislead investors (Elliott and Treanor 5). This allowed the Lehman Brothers to use the proceeds gained from the repo to reduce its leverage right just before the reporting period. By September 2008, the repo proceeds had reached $50 billion resulting in bankruptcy. The investigators were amazed to learn that this amount was even more than the bonds that were due at the time General Motors went bankrupt the previous year. The repo proceeds were also comparable to the gross domestic product of Switzerland in 2008. Amazingly, the top executives of the company then, including its CEO Dick Fuld denied any knowledge of the company’s use of Repo 105 (Elli ott and Treanor 5). It was also amazing that Ernst & Young, the leading audit firm for the company gave unqualified report without noting the misstatements in the company’s books of account.... From the analysis of the case, it became apparent that the company’s top executives made serious errors of business judgments, which ought not to have occurred. For instance, it was unethical for the top executives of the company to mislead investors of the real picture of the company by manipulating the balance sheet. As earlier indicated, the Lehman Brothers tried to stop its demise by falsifying the balance sheet to deceive investors about its true financial picture. This was unethical act, which executives ought to avoid. The company’s financial statement is very important since it shows investors how the company is performing, which also influence their investment decisions (Goldmann and Hilton 21). According to the accounting and auditing standards, the top executives of the company were supposed to report the real financial position of the company. The Lehman Brothers also breached the corporate governance and management ethics by using Repo 105 to manipulate its balance sheet. In this regard, we realize from the case that the Lehman Brothers diverted $50 billion of its toxic assets from its balance sheet in the early 2008 rather than disposing of the repos and reporting the same at a loss. After doing so, Wolff observed that the lack of strong internal control allowed the Lehman Brothers to treat the repo 105 transaction as proceeds instead of financing (2). To make matters worse, the chief financial officer was found to have sent emails indicating that repo 105 should be used to reduce liabilities in the statement of financial position of the country. This was indeed a serious breach of accounting principle. In addition, the top executives of the company failed to disclose the repo 105 to the rating agencies,