marketing :: essays research papers

The factor proportions specimen was originally developed by two Swedish economists, Eli Heckscher and his student Bertil Ohlin in the 1920s. Many elaborations of the imitate were provided by Paul Samuelson after the 1930s and thus nightimes the model is referred to as the Heckscher-Ohlin-Samuelson (or HOS) model. In the 1950s and 60s some noteworthy extensions to the model were made by Jaroslav Vanek and so occasionally the model is called the Heckscher-Ohlin-Vanek model. Here we will apparently call all versions of the model either the "Heckscher-Ohlin (or H-O) model" or simply the more generic "factor-proportions model". The H-O model incorporates a number of realistic characteristics of production that are left out of the ingenuous Ricardian model. Recall that in the simple Ricardian model only one factor of production, labor, is needed to produce goods and services. The productivity of labor is assumed to vary across countries which implies a difference in applied science between nations. It was the difference in technology that motivated advantageous international trade in the model. The standard H-O model(1) begins by expanding the number of factors of production from one to two. The model assumes that labor and upper-case letter are used in the production of two final goods. Here, capital refers to the physical machines and equipment that is used in production. Thus, machine tools, conveyers, trucks, forklifts, computers, region buildings, office supplies, and much more, is considered capital. All productive capital must be owned by someone. In a capitalist economy most of the physical capital is owned by individuals and businesses. In a socialist economy productive capital would be owned by the government. In most economies today, the government owns some of the productive capital but private citizens and businesses own most of the capital. Any person who owns common stock issued by a business has an ownership percent in that c ompany and is entitled to dividends or income based on the profitability of the company. As such, that person is a capitalist, i.e., an owner of capital. The H-O model assumes private ownership of capital. apply of capital in production will generate income for the owner. We will refer to that income as capital "rents". Thus, whereas the worker earns "wages" for their efforts in production, the capital owner earns rents. The speculation of two productive factors, capital and labor, allows for the introduction of another realistic feature in production that of differing factor-proportions both across and within industries.

The Mexican War by Otis A. Singletary Essay -- essays research papers

This book by Otis A. Singletary deals with different aspects of the Mexican war. It is a compelling description and concise history of the prototypical successful offensive war in United States military history. The work examines two countries that were unprepared for war. The political intrigues and quarrels in appointing the military commanders, as well as the military operations of the war, are presented and analyzed in detail. The author also analyzes the role that the Mexican War played in bringing on the U.S. civilised War.The Mexican-American War of the 1840s, precipitated by border disputes and the U.S. annexation of Texas, ended with the military occupation of Mexico City by General Winfield Scott. In the subsequent treaty, the United States gained territory that would force California, Nevada, New Mexico, Arizona, Utah, and parts of Wyoming and Colorado.Mr. Singletary has been remarkably successful, despite the brevity of his book, in describing with important details t he Mexican War. The book can be break into two of import parts. The first part gives background which explains different reasons that played a decisive role for the break out of the war, and it relates the different campaigns that allowed the invasion of northern Mexico and the city of Mexico. The southward half of the book deals with the way politician and generals behave during the war, and the book ends touching the role played by diplomacy in this war.The book has been organized in chronological order, which g...

Affirmative Action :: Affirmative Action Essays

The under representation of any racial group, it was decided, was evidence of dissimilitude?(Guernsey). Affirmative action did non start out as a reverse diversity towards white males, but it was meant to help everybody, but failed nearly completely after a cartridge clip of which it was affected. The original concept of affirmative action excluded any mention of preference. Launched during the late 1960s by the administration of President Richard M. Nixon, affirmative action curriculums call for guidelines and goals in the hiring of racial and ethnic minorities, the handicapped, and women. They baffle been effective in promoting change in hiring practices because they have the weight of the federal government behind them. As a unionize result, a broader range of opportunities have become available for blacks in government, the corporate world, and colleges and universities. In the beginning, the 1960s, when President Johnson used the affirmative action policy it was necessar y and effective. At that time there was racial discrimination towards great deal of all black races in the United States of America, so it was a necessity to have such a law to create equal opportunity, but this was also created to have a racially and gender blind solution. This has turned into a racially unequal program that now has a negative effect on society. Affirmative due to quotas and favoritism towards minorities have a negative effect on society and have created a reverse discrimination.     Many years ago there was a mistreatment of blacks and other minorities. During much of American history, it was generally accepted by white people that blacks were not the same kind of human beings as whites and that slavery was the proper role for black people(Guernsey). People were not permitted to attend certain schools due to their color.? there were separate eating facilities, bathrooms, parks, and drinking fountains for them as well. The first legal sign tha t the mistreatment of blacks was finally realized when in 1954 the Brown v. Board of Education overturned the Plessey v. Ferguson case. In 1964 there was there was the Civil Rights equal protection laws passed to make discrimination illegal were the 1964 Civil Rights Act, Title II and VII of which forbid racial discrimination in "public accommodations" and race and sex discrimination in employment, respectively and the 1965 Voting Rights Act adopted after Congress found "that racial discrimination in voting was an insidious and pervasive evil which had been perpetuated in certain parts of the country through unremitting and ingenious defiance of the Constitution.

Franz Kafka :: essays research papers

When he lifted his head a little, he saying his vaulted brown belly, sectioned by arch-shaped ribs, to whose dome the cover, about to slide off completely, could barely cling. His many legs, pitifully thin compared with the size of the rest of him, were gesticulate helplessly before his eyes. Gregor Samsa is the main character in this story to go through a metamorphosis. This change has turned Gregor into a chimerical vermin. Kafka expresses the anxieties, internal terrors, and cynicism of Gregors life throughout the novella, Metamorphosis. Gregors feelings towards his antic, the effect his job has on his family, and the cruelty that his family displays show many of the changes that occur in the story. The novel opens with Gregor in his monstrous state, late for work. He surmises that his job as a traveling salesman is very important, since he has to pay off his fathers debts, yet he is increment extremely tired and frustrated about it. The upset of doing business is much wors e than the actual business in the home office, and, besides, Ive got the torture of traveling, disturbing about changing trains, eating miserable food at all hours, constantly seeing new faces, no relationships that last or get more intimate. To the devil with it all Gregor has a great amount of anger towards his job, which soon leads to his resentment towards society as a whole. The fact that his office manager showed up at Gregors house plays an immense role in creating apprehension and anxieties in Gregors mind. He feels strangled by his job and is too listless to tolerate the pressure. Along with the pressure created by his office manager and society, the Samsas, especially Gregors father, take advantage of him. Gregor earns the basic income to support his family. But of course he actually could have paid off more of his fathers debt to the boss with this extra money, and the clay on which he could have gotten rid of his job would have been much closer, but now things were un doubtedly better, the way his father had arranged them. The bad taste of the Samsas has put Gregor in a onerous position, which I feel is one of the largest issues leading to Gregors metamorphosis. Gregors family in general had given him the negative attitude he has on life. They took advantage of him to the conduct where he was the means of the familys survival.

alcohol Essay -- essays research papers

Alcoholism, chronic and usually progressive illness involving the excessive inappropriate ingestion of ethyl radical alcohol, whether in the form of familiar alcoholic beverages or as a constituent of other substances. Alcoholism is thought to arise from a combination of a wide range of physiological, psychological, social, and genetic factors. It is characterized by an emotional and often physical dependence on alcohol, and it frequently leads to brain damage or early death. round 10 percent of the adult drinkers in the United States are considered alcoholics or at least they experience drinking problems to some degree. more males than females are affected, except drinking among the young and among women is increasing. Consumption of alcohol is apparently on the rise in the United States, countries of the former Union of Soviet Socialist Republics, and many European nations. This is paralleled by growing evidence of increasing numbers of alcohol-related problems in other nation s, including the Third World. Development Alcoholism, as opposed to merely excessive or overbearing drinking, has been variously thought of as a symptom of psychological or social stress or as a learned, maladaptive coping behavior. More recently, and probably more accurately, it has come to be viewed as a complex disease entity in its own right. Alcoholism usually develops over a period of time of years. Early and subtle symptoms include placing excessive importance on the availability of alcohol. Ensuring this avai...

alcohol Essay -- essays research papers

Alcoholism, chronic and usually progressive illness involving the excessive inappropriate breathing in of ethyl alcohol, whether in the form of familiar alcoholic beverages or as a constituent of other substances. Alcoholism is thought to arise from a junto of a wide range of physiological, psychological, social, and genetic factors. It is characterized by an emotional and often physical dependence on alcohol, and it frequently leads to brain damage or archeozoic death. Some 10 percent of the adult drinkers in the United States be considered alcoholics or at least they experience drinking problems to some degree. More males than females are affected, but drinking among the young and among women is increasing. Consumption of alcohol is apparently on the rise in the United States, countries of the former Union of Soviet Socialist Republics, and some European nations. This is paralleled by growing evidence of increasing numbers of alcohol-related problems in other nations, includi ng the Third World. Development Alcoholism, as opposed to merely excessive or irresponsible drinking, has been variously thought of as a symptom of psychological or social stress or as a learned, maladaptive coping behavior. More recently, and probably more accurately, it has come to be viewed as a complex disease entity in its own right. Alcoholism usually develops over a period of years. Early and subtle symptoms include placing excessive importance on the availability of alcohol. Ensuring this avai...

Cinderella †Family Therapy Essay

Cinderellas case conceptualized using a Bowenian transgenerational ensample According to Bowen, one of the pioneers of family therapy, family can be understood as an activated unit, which can be best analyzed through a multigenerational framework. Cinderellas story, which was told by galore(postnominal) professional storytellers, including brothers Grimm (19 century) and Charles Perrault (17 century), as many other famous fairytales lacks many important details and characters descriptions that a therapist would need for administering family treatment involving transgenerational model.If we would speculate knowing some information well-nigh Cinderellas family members, the transgenerational model would work beautifully. A chronic anxiety of Cinderella, her unstable, submissive behavior, could be explained by anxiety transmitted over several generations. Goldenbergs bring our attention to a few important excited patterns of an individualthe selection of a spouse with similar differe ntiation level and the family projection process that results in lower level of self-differentiation (p. 89, 2008).Bowen would even build a prognosis for Cinderellas children to have a reduced level of self-differentiation and being increasingly vulnerable to anxiety (Goldenberg & Goldenberg, 2008). Bowen emphasized that the multigenerational transmission programs not only the levels of self differentiation, but also programs familys roles and interactions. Cinderellas marital problems could be understood very well through the lens of her family behaviours (The Bowen Center, n. d. ).My only major concern about application of transgenerational model in Cinderellas case would be the early death of Cinderellas parents ( her genogram is hard to build) and her latter life with the wicket, very directive stepmother, who manifestly influenced Cinderellas fragile and indecisive mind structure. Cinderellas ability and inability to build fixings to her family members, which were not all a ngels, should be also considered when providing her with a therapy. Once again, her attachment to her loving father, her godfairy, her stepmother and stepsisters, could be easily incorporated into transgenerational model.Cinderellas case conceptualized through Bowens concepts of triangulation. According to Goldenberg and Goldenberg (2008), the Bowens concept of triangulation would allow understanding better Cinderellas marital problems. Probably, a few first eld of Cinderellas marriage were happy, because it was a big relieve for her to escape the stepmother cruelty. However, even her first marital years could have some initial problems. For example, the prince, who was brought up in a normal family, could not understand or could not believe Cinderellas stories she told about her family.He would smile when she would share her violent memories with him. The prince mistrust and his ironic smile could initiate some negative feelings and despair in Cinderella. In this case, the stepmot hers figure would be present in Cinderella-prince conflict through Cinderellas stories. It is particularly interesting that the third person does not need necessarily be present to establish a conflict in triangulation (The Bowen Center, n. d. ). When children were born from a person (or two persons) with low self-differentiation, many other triangles and possible shifts and tensions could occur.Cinderellas case and the object-relations model Goldenberg and Goldenberg (2008) volunteer a deep insight into Cinderellas story based on the object-relation model, which is connected to the early Freudian concept of mother-child bonds. Even though the Cinderellas kindred with her mother was very short before her mother past away, it appeared to be a foundation of many Cinderellas later issues, such as her glorification of some women characters (godmother later, some older women-friends), a few conflicts between her ego and id, suffering from deprivation of early attachments, developing i nsecurity and low self-esteem, and others.All these issues that the object-relations model would discover, could be projected to Cinderellas later marital problems. A person who survived a trauma of loosing her both parents and the hardship of living with evil stepmother and stepsisters could have a lot of troubled thoughts and experiences that could be projected into her relationship with her spouse and children. I believe that the object-relations model (psychodynamic in its core) could provide the best insight when dealing with Cinderellas marital problems.

Corporate Evaluation Analysis – Avon Products

Table of Contents I. Company History.. Pg. 3 II. Recent intelligence servicePg. 5 III. Industry AnalysisPg. 8 IV. SWOT Analysis.. Pg. 15 V. Value Line AnalysisPg. 15 VI. balance AnalysisPg. 18 VII. reverting & Descriptive Statistics branch AnalysisPg. 20 VIII. Growth Analysis, Estimates for Earnings Employed in DDM, DDM including brush off Rate, and Other Assessments of Risk.Pg. 23 IX. Other Valuation ParametersPg. 26 X. Rule 1. Pg. 28 XI. Conclusions/Final Stock JudgmentPg. 31 XII. ReferencesPg. 33 XIII. Appendix.. Pg. 35 I. Company History In general, Avon Products, Inc. is a U. S. cosmetics, perfume, jewelry, clamber c be, personalised compassionate and childrens products seller with trades in oer 140 countries across the world and gross revenue of $9. 9 billion worldwide. Avon Founder David H.McConnell offered women a r arness in 19th century America a chance at pecuniary independence. In 1886, it was practically unheard of for a woman to run her feature product lin e. Only about 5 million women in the United States were working outside the home, let al hotshot climbing the ranks of any corpo target ladder. That flake accounted for in force(p) 20% of all women (Avon. com). The man behind the connection for women was the son of Irish immigrants and grew up on a distantm. Yet, it was this young man from rural New York, a visionary leader decades ahead of his time, who would become a pioneer in empowering women.McConnell, a bookseller-turned-perfume entrepreneur, would offer women the opportunity to create and manage their own businesses through what later(prenominal) became known as turn to change. David H. McConnell sold books door-to-door and gave out perfume to entice women to buy his books. His perfume proved to be more more prevalent than his books, so he then founded the atomic number 20 Perfume Company (CPC) in New York, New York. Mrs. P. F. E Albee, a 50-year old wife and commence of two, became the calcium Perfume Companys fi rst Representative. The legendary Mrs.Albee is assuage considered a role model for Avon Representatives today and is credited with creating the guilds system for distributing products. The California Perfume Company was incorporated on January 28, 1916 by David H. McConnell and Alexander D. Henderson (businessman) in Suffern, New York. By 1918, five million units were sold in North America, and by 1928, sales reached $2 million. In October 1939, the name was changed to Avon Products, Inc McConnell had visited Stratford-Upon-Avon (UK) and had liked the town so much, that he renamed his conjunction subsequently it.The troupe was taken public in 1946 with otc dividing line. By 1954, sales reached $55 million, and the Avon Calling advertising campaign was introduced, making it one of the largest and most successful advertising campaigns in history (Avon. com). In the 1960s and 1970s, Avon was one of Wall Streets favorite Nifty Fifty have a bun in the ovens, a group of well-regard ed, buy and hold blue chips that to a fault included Xerox, Disney, and McDonalds. These stocks helped take away the bull grocery storeplace of the early 1970s in the U. S. , with Avons stock soaring to $140.The Nifty Fifty bubble later bursts, sending U. S. stocks plunging. Avon was comeed on the big board as AVP in 1964. By 1979, sales reached $3 billion, with one million direct sales agents. Today sales exceed $10 billion worldwide. In June 1989, Avon became the first major cosmetic company to announce a permanent end to animate universe testing on all Avon-manufactured products. Avon does non conduct animal testing on any of its products or raw ingredients and does not require that suppliers of raw ingredients and finished products produced for Avon conduct animal testing on our behalf.In appurtenance to its corporate pursuits, the Avon corporation is involved in philanthropic causes. The Avon Foundation for Women, an accredited 501(c)(3) public charity, is the largest c orporate-affiliated philanthropy for women in the world. Avon has been committed to helping women achieve their highest potential of frugal opportunity and self-fulfillment by empowering them through scholarships and support for other forms of educational and occupational training and advancement. The Avon Foundation is on-goingly focused on two fundamental causes breast cancer and domestic abandon.Through 2009, Avon global philanthropy raised and donated more than $725 million worldwide for causes most important to women. Since 1992 in more than 50 countries around the globe, millions of dedicated Avon Representatives sacrifice sold special Avon cause products, raising almost $150 million to end breast cancer and domestic violence and to help in times of global emergencies. In 1999, the first woman CEO was named Andrea Jung. In 2003, mark. , which is targeted to younger, college-aged women, was created to help the company reach out into markets it had not antecedently serviced . mark. as proven to be successful in reaching a new generation of recruits, chiefly young women ages 1825, with a monthly magalog featuring its products. In 2008, reality star Lauren Conrad became a spokesmodel for the brand. Conrad likewise designed clothing and accessories for the brand. In 2010, actress Ashley Greene would replace Conrad as the spokes model for the brand. Throughout the first decade of the new millennium, Avon began run in numerous new markets, with heavy expansion in Central and Eastern Europe and the Caribbean Islands. Avon is now in more than 100 markets and is coined to be the company for women.II. Recent News AVP has a market cap of $11. 43B, operate cash flow of $702M, and consistent quarterly dividends around $0. 22 per sh are, making AVP a leader in personal products globally (Investment Underground). Given AVPs positioning in the personal products labor, Avon could be a prime takeover candidate for competitors such as The Estee Lauder Company (EL) or French conglomerate LOreal SA (LRLCY. PK) looking to expand their reach into the direct sales portion of the personal products market. Because AVP currently has one of the utmost ope judge margins in the area (11. 0%), competitors such as EL could view AVP as an attractive investment in hopes of increasing profitability. In profligate times, people turn inward. The argument for large cap consumer staple companies is that they are familiar names that offer the necessities of daily life. Barrons Magazine presents a list of ten companies that fit this argument. The underlying thesis is that these ten companies offer cash flow, dividends and predictable harvest-tide. This list includes Avon Products (AVP), Campbell Soup (CPB), Clorox (CLX), Coca Cola Enterprises (CCE), Colgate-Palmolive (CL),General Mills (GIS), Kellogg (K), Molson Coors brew (TAP), PepsiCo (PEP), and Proctor & Gamble (PG). Are these companies really good investments for today? Ticker Company Recent hurt Chg. Di vidend EV/EBITDA EV/SALES determine 52W consequence AVP Avon Products, Inc. 26. 59 -19. 00 3. 50 15. 03 1. 31 CPB Campbell Soup Company 33. 50 -4. 00 3. 50 13. 01 1. 9 CLX Clorox Company, The 68. 81 7. 00 3. 20 17. 46 2. 39 CCE Coca-Cola Enterprises Inc. 25. 81 -5. 00 1. 90 16. 15 1. 79 CL Colgate-Palmolive Company 76. 95 -9. 00 3. 00 12. 23 2. 70 GIS General Mills, Inc. 36. 65 0. 00 3. 10 14. 90 2. 24 K Kellogg Company 54. 17 3. 00 3. 00 15. 49 2. 18 TAP Molson Coors Brewing Company 43. 5 0. 00 2. 60 12. 87 3. 20 PEP PepsiCo, Inc. 63. 24 -5. 00 3. 00 15. 58 2. 25 PG Procter & Gamble Company, The 60. 60 -5. 00 3. 20 15. 05 2. 78 The first item that can be noticed from the above chart is that these companies underperformed the S 500 significantly during the past dozen months (Sommer). This meantime is not indicative of a turning point. The poor performance reflects high unemployment and consumer uncertainty.The consumer is being more selective in its discretionary spending and seeking alternate, cheaper products. The market seems to reflect this understanding. The high dividend yields provide a measure of support to these stock prices but they besides reflect the lack of price appreciation. Ticker Company EPS TTM 2011 EPS 2012 EPS FCF TTM Payout proportion (Est. ) (Est. ) AVP Avon Products, Inc. 2. 28 2. 01 2. 26 -0. 03 38. 0 CPB Campbell Soup Company 2. 36 2. 43 2. 53 1. 15 47. 50 CLX Clorox Company, The 5. 25 3. 94 4. 43 2. 00 41. 00 CCE Coca-Cola Enterprises Inc. 2. 05 2. 04 2. 26 1. 44 5. 90 CL Colgate-Palmolive Company 4. 46 5. 05 5. 50 2. 98 45. 50 GIS General Mills, Inc. 2. 51 2. 48 2. 68 0. 60 41. 80 K Kellogg Company 5. 6 3. 47 3. 78 -0. 17 30. 20 TAP Molson Coors Brewing Company 3. 81 3. 78 4. 04 1. 98 28. 30 PEP PepsiCo, Inc. 3. 97 4. 48 4. 90 3. 21 47. 60 PG Procter & Gamble Company, The 3. 84 3. 97 4. 36 3. 43 49. 00 Each of these companies reports solid earnings over that past twelve month period. Consensus an alyst estimates for both the current year and next year are little impressive. We believe the estimates reflect expectations for continued weakness from stressed consumers (Sommers). These companies are all overpriced and have no catalyst for change. The assumption that investors can find safety by identifying sectors or themes is a dangerous one. Avon recorded derelict ope rank performance in the fourth quarter of 2010. The companys earnings per share plunged 13. 2% to $0. 59 from $0. 68 per share in the year-ago period. The decline was principally cod to reduction in operating margin, which resulted from unfavorable product mix, rising commodity personify and a 27% sales decline in Venezuela (Zachs).Moreover, Avon ended fiscal 2010 with a semipermanent debt of $2,408. 6 million, reflecting a debt-to-capitalization ratio of 59%, which is substantially high, and could negatively influence the companys credit worthiness and make it more vulnerable to the macro-economic factors a nd belligerent pressures. Additionally, the North American market continues to re main(prenominal) sluggish with volume falling 14. 0% in the fourth quarter of 2010. Moreover, the companys initiatives to change the product mix and store the business in the U. S. arket will require significant expenditure to support increased advertising and promotional activities. This is apt(predicate) to undermine Avons overall operating performance, moving forward. Besides, the company is expecting a mid single-digit revenue step-up in fiscal 2011, which can be achieved through strong field programs match with an innovative. As well, call it luck on November 08, 2010, Avon sold out its entire ownership amuse (74. 67%) in Avon Japan to TPG Capital, otherwise the scenario could have been worse for the company due to the recent crisis in Japan product pipeline (Zachs).Pulling out of the Japanese market was partly of the companys 2010 decision to redouble its efforts in China. It announce the sale of its 75% stake in Avon Japan to esoteric legality firm TPG for $90 million in late 2010. The move overly was part of the beauty-products makers plan to refocus on direct sales. (The Japanese unit typically generated more than half its revenues through direct mail. ) III. Industry Analysis (Personal Products Cosmetics & Toiletries) Because of the wide fix up of products Avon offers, it is quite difficult to pin point one single industry.Thus, going by their primary selling products, Avon fits most accurately into the Personal Products and Cosmetics & Toiletries industries. Companies that manufacture and/or market personal grapple products produce cosmetics, fragrances, and razors. The personal precaution products industry targets many faces from chubby newborns to 40- roughthing near-goddesses to those newly retired and dreaming of a beachfront condo. While companies in this sector would like to cater to everyone, the industry has found potential in both the Baby Boom ers and their children the teens and tweens.Called Gen Y, Boomers teens offer an estimated $9 billion in purchasing power (Hoovers). leave no demographic untouched, personal care products makers also are expanding their target markets across sexual practice lines, marketing everything from cosmetics to sensory hair care to men and teen boys, as well as women. With more US consumers reaching the age of 55 (33% by 2030), the industry has targeted this more-vain-than-not age segment and has logged revenue growth in scrape up care and hair coloring products throughout the past few geezerhood as a result.On the other end of the spectrum, the teen girl creation age 12 to 19 grew from 14. 3 million in 1995 to 15. 2 million in the US in 2001 (Hoovers). Industry beauty companies, such as Avon Products, are targeting this demographic with lifestyle brands the likes of Avons Mark. While women have historically been a target market primarily because women are the likely shoppers the bu ying power of males is not ignored by the personal care industry. In fact, the groups buying power is eagerly sought after.Industry giants are tapping into the revenue potential of personal care products made specifically for men, illustrated by Procter & Gambles acquisition of Gillette in October 2005 for some $57 billion (Hoovers). Gillette represents more than razors. In the eyes of the industry, Gillette is the king of marketing to men. As the carousel marketer to women, Procter & Gamble has counted on its purchase of Gillette to move over it the keys to the castle and enable it to become the voice to men, as well. Men offer revenue potential beyond Gillettes Mach3 and Colgate-Palmolives Mennen brand.A Newsweek magazine poll conducted in mid-2003 revealed that more than half of men age 35 to 55 are somewhat satisfied with their overall appearance. This constituent reflects an increase for this age segment since Newsweeks last poll in 1996. Companies have begun educating men o n the topics of sunscreen, lotions, nail care, hair color, and more. Along the way, the personal care industry has been piquing the interest of the male customer and introducing him to the profitable skin care market, as Estee Lauder has with its Aramis and Clinique brands and Beiersdorf has with its Daily Protective lotion (formerly NIVEA for Men).This trend still extends into 2008. Regardless of gender or age, customers access personal care products through a variety of venues, including grocery stores, drugstores, mass merchandisers, warehouse clubs, specialty retailers, and online e-tailers. Reports about personal care products sales for grocery stores and drugstores are usually prefaced with the phrase, excluding Wal-Mart. (Fidelity) This is a reminder that Wal-Mart Stores, as well as some warehouse clubs, present something of a wildcard to the industry.Outside the brick and mortar, personal care products makers have a polished business model for using direct-selling systems to reach target markets. Cosmetics companies have gained sales advantages with little or no overhead by letting their customers sample products at home parties. Direct sellers, such as Avon Products, Mary Kay, and Amway, have long relied on this concept. UK-based natural personal care retailer The Body Shop has tested the US waters by selling through independent consultants and continues to sell in the US after seeing haughty results.No matter where a company in the personal care products industry identifies its untapped growth potential be it in the teenage girls or mid-life males markets a few of the same factors apply. Staying competitive subject matter implementing innovation fueled by billions of dollars in R&D and a strategy of quick-to-market products. Reaching far and reaching fast are significant parts of the battle. However, expanding as wide as the tentacles of Wal-Mart and maintaining brand recognition and loyalty in a sea of private labels may prove to be the ulti mate challenges. Fidelity) pic Competitors Avon faces competition from a variety of products and product lines both nationally and globally. The beauty and beauty-related products industry is extremely competitive and the number of competitors and degree of competition in this industry varies hugely from country to country. Globally, Avon competes against products sold to consumers by other direct-selling and direct-sales companies and through the Internet and against products sold through the mass market and prestige retail channels.The major competitors of the company are LOreal SA (LRLCY. PK) and Revlon Inc. (NYSE REV). Competition from mass merchandisers and specialty and department stores has spurred Avon to not unless spend many millions on R&D but set aside just as much $100 million to support the launch of a global ad campaign. Avon anticipates parkway additional growth based on fragrances (Today, Tomorrow, Always) and skin care (Anew anti-aging) sales. To that end, it signed on award-winning singer Fergie to develop a signature fragrance, which was unveiled in 2010.Previous partnerships have involved French designer Emanuel Ungaro for two fragrances (U by Ungaro for Her and U by Ungaro for Him) and the New York Yankees Derek Jeter for Driven mens fragrance and a personal g inhabiting line of products. (Yahoo Finance) pic Revlon (REV) is engaged in the production, marketing and selling of an array of cosmetics, hair color, beauty tools, anti-perspirants/deodorants, fragrances, skincare and other beauty care products. The company primarily operates in North America, Asia-Pacific, Europe, Africa, and Latin America. It is headquartered in New York City, New York and employs 4,800 people.Revlons global brand name, product quality and marketing bring have enabled it to create one of the strongest consumer brand franchises in the world. Revlons brand equity among the consumers enabled the company to garner 12. 7% of the US mass retail color cosmetics market 9. 7% of the hair color market 4. 6% of the perspirants/deodorants market and 21% of the beauty tools market, during 2009 (Revlon). Strong brand image of the company facilitates customer recall and allows Revlon to penetrate new markets as well as consolidate its presence in the existing ones.The company recorded revenues of $1,295. 9 million during the financial year ended December 2009 (FY2009), a step-down of 3. 8% as compared to 2008. The decline in revenues was choosen by lower net sales of Revlon and Almay color cosmetics and some of the other beauty care products. The operating profit of the company was $170. 8 million in FY2009, an increase of 10. 2% over 2008. The net profit was $48. 8 million in FY2009, a decrease of 15. 7% as compared to 2008 (Revlon). LOreal (LRLCY. PK) is one of the largest cosmetic companies in the world.It produces and markets a range of make-up, perfume, hair and skin care products in over 130 countries. It is headquartered in Clichy, France and employs 64,600 people. Since its inception about 100 age ago, the company has developed a strong brand portfolio of 23 international brands. The companys products are sold under well-known(a) brands such as LOreal Paris, Garnier, Maybelline, SoftSheen Carson, CCB Paris, LOreal Professional, Kerastase, Redken, Matrix, Mizani, Lancome, Biotherm, Helena Rubinstein, Kiehls, Shu Uemura,and Giorgio Armani.These brands are available through a range of distribution channels ranging from mass market, to selective distribution including hair salons, pharmacies/drugstores and a network of directly owned stores and franchises. Strong brand portfolio lends better visibility and presence in all distribution channels and enables LOreal to reach a large customer base, thereby increasing its market penetration opportunities. LOreal operates through three business divisions cosmetics, the Body Shop, and dermatology.The Body Shop division operates a drawstring of 2,550 stores in 63 countries w orldwide specializing in skin and hair care products made from natural ingredients. The company recorded revenues of E17,472. 6 million ($24,367. 8 million) during the financial year ended December 2009 (FY2009), a decrease of 0. 4% compared with 2008. The operating profit of the company was E2,577. 6 million ($3,594. 8 million) in FY2009, a decrease of 5. 4% compared with 2008. The net profit was E1,792. 2 million ($2,499. 5 million) in FY2009, a decrease of 8% compared with 2008 (Loreal). (Fidelity) pic IV. SWOT Strengths Weaknesses Diverse geographic presence enhances Chinese operations marred with controversy scale of operations and mitigates local market risks and poor performance Low cost business model of direct selling Lack of clear-focus and strategy for non-beauty products Strong brand equity Declining operating margins Opportunities Threats Restructuring initiatives for organizational Competitive environment in the global Effectiveness cosmet ics industry Re-branding strategy to drive consumer Companys revenues tied to the Demand performance of the sales representatives Emerging markets enhances the scope of A diversified global operation exposes Avon to currency fluctuation growth for the Avons esteem cosmetic risks products V.Value Line Analysis On December 24, 2010, Jerome H. Kaplan, a Value Line analyst, points out that investors are not thrill about Avons mediocre progress. The companys stock price has declined in the last three months. Avon continues to struggle a bit in the U. S. and Chinese markets as is reflected in September-quarter earnings, as well as deteriorating growth in the vital markets of Brazil and Russia. Kaplan states, Long-term emerging market-oriented investors should consider this untimely stock. Avon could be viewed as the equivalent of a diversified portfolio in fast-growing regions, such as Latin America, Asia, and Central and Eastern Europe. (Value Line) Improves margins, profits, and share price will most likely be a result of the growth of these markets by 2013-2015, in addition to savings of over one billion dollars by 2012-2013 from programs reducing Avons cost structure. When looking at the Value Line, we notice a preventative rating of 3. A gum elastic rating is another way to measure the companys risk or financial strength. It is measured from 1 to 5, with 1 being the highest and best rating indicating the company has a less likely chance of seemly swearrupt and are less volatile. In Avons case, a 3 may be interpreted as being unpredictable. If the score is lowered to a 4 or 5, the longer the short-term price movements the stock may experience.Safety ranks work better than Beta when there is a break in the market (when the market is going down). Arguably the most important investment recommendation found on Value Line is the opportuneness rating. The scale is also from 1 to 5 with again 1 being the most desirable rating which reflects the top 100 stocks within Value Lines 1,700 stocks. Investors typically are advance to buy a portfolio of stocks across six or more industries with a ranking of 1 for Timeliness. After some time, investors are encouraged to keep an eye on this rating and when it falls to a 4 or 5 rating that stock should be sold, as is the case with Avon with a Timeliness rating of 4 (Money-Zine).With a financial strength of a B++, Avon is considered a company that would most likely survive a depression. This means the company has sufficient liquidity to payout their dividends or increase how much they give as dividends. When income is the primary consideration, a strong balance sheet provides greater office that a dividend can be maintained (Valueline). Proper financing ensures stockholders that operations can be expanded without having to disperse a portion of the earnings to bank or bondholders. The stock price stability (SPS) is the standard deviation of weekly stock prices over the last five yea rs. It is ranked from 5 to 100 and in increments of 5.A ranking of 100 reflects the lowest standard deviation, which reflects the greatest stability attainable, while 5 indicated the largest standard deviation and the least(prenominal) stability. Price stability along with the companys financial strength rating determines a stocks Safety ranking. Avon has a price stability of 75 which puts them not too far from the top and would be considered to be on the lower side of good stability. The price growth persistency (PGP) of a stock is measured in the same format as the stock price stability. A stock that is 100 probably beat the index every year of the last 10 years. Avons PGP rating is 45, which is on the low side of average.This measurement rewards this fund for the consistency with which it outperforms the broader universe if equity offerings over an extended period of time. Earnings predictability for Avon is 65. This rating provides a measure of the reliability of an earnings fo recast. Ratings with a 100 are noted as the best fit on the regression line, importee they have a high consistency of earnings. Predictability is based upon the stability of year-to year comparisons, with recent years being weighted more heavily than earlier ones. Reliable forecasts are close to 100 and the least are close to lowest of 5. Being that Avon falls around the middle of these two extremes, it can be said that the company is somewhat reliable and other factors should be considered in conjunction.A stocks beta is a measure of a occurrence stocks price volatility and risk carnal knowledge to a broader measure of stock price movements such as a market index (Money-Zine). Many stock beta calculations are performed relative to the S 500 however, the Value Line Beta calculation uses the New York Stock Exchange Composite Index. The most important fact to point out is that the beta measures a stocks movement in price. If a stock has a beta of 1. 0 or above, which is the value o f the market beta, it will experience more movement either up or down relative to the index. In comparison, a stock with a beta of less than 1. 0 is considered less godforsaken and stable with smaller price fluctuations. According to Value Line, Avon has a beta of . 5 right under the market beta, which implies that this stock is not risky and will most likely not experience any drastic changes in its price. The good ranking of a stock is almost similar to that of its Timeliness ranking except for the fact that the Technical ranking does not take into consideration earnings per share projections, only the opportunity for a stocks price appreciation. With a Technical ranking of 2, Avon, according to Value Line, should be purchased since this rating indicates Avon has short-term capital gains, in the three to six month timeframe (Money-Zine). The plowback method is sometimes used to calculate a companys earnings after dividends have been paid out.A high rate indicates that a company pays less in dividends and thus reinvests more of its earnings into the company. Investors tend to prefer a lower plowback ratio in a slow-growing company and a higher one in a fast-growing company. Whether or not this is desirable depends on the rate of growth. The plowback rate is calculated using the following formula roe x (1 Payout Ratio (Dividends per share/Earnings per share)). Plugging in the Value Line figures for Avon the result is, . 492 x (1 (. 84/1. 45)) = . 207 = 20. 7%. To calculate Avons free cash flow we need the following = per share earnings + cash flow from operations required dividends capital spending. Thus, 1. 45 + . 44 . 84 . 69 = $0. 36. VI. Ratio Analysis Profitability 12/31/2010 12/31/2009 12/31/2008 12/31/2007 Ratios 2006 5. 5 1. 75 6. 26 60. 28 2007 5. 4 1. 81 7. 23 70. 67 2008 8. 3 1. 81 8. 38 125. 92 2009 6. 1 1. 61 6. 4 64. 27 2010 5. 9 1. 48 4. 74 41. 4 According to this DuPont Analysis for Avon, all three secto rs show inconsistencies and overall fluctuations up and down. In 2008, the company is at its highest level but dramatically goes down in all sectors the year following and continues to decline. Overall, efficiency in all sectors are not very stable. The company has had its off and on days throughout the years without any trend or consistency. Avon needs to control their operations and cost efficiency more closely. VII.Regression & Descriptive Statistics Growth Analysis Using the information figures for Avon provided through Value Line from 2002 to 2009, a descriptive synopsis and linear regression were produced for SPS, Shares, EPS, CF, DIV, ROE, PE, BV, FCF, OM, RTC and NPM (Appendix). A more comprehensive analysis was done for EPS, FCF, PE, and ROE. Included in each financial variable analysis is the calculation of normalized data points for the 7th and 8th periods, which are years 2008 and 2009, respectively. Within this additional analysis the Current to Normalized (CNE) was also calculated, and each resulting figure was compared to the normal expected range of . 85 1. 15.In the last step of this additional analysis, growth rate and variability figures were also produced. * enrapture Note the ROE figures for the years of 2002, 2003, 2005, and 2008 were noted as NMF on Value Line, thus the figures used in the analysis were calculated using the net income after tax from the income statement and the stockholders equity from the balance sheet. Looking at the summary of the results for these four financial variables in the chart given below, only the CNE of EPS, which is . 93 falls within the normal range of . 85 1. 15, which means that in the remaining three areas of FCF, PE, and ROE, Avon is operating below the expected and acceptable range.These below average results signify that the normalized points produced are not adequate enough to rely on to calculate appropriate growth rates. As can be seen also in the summary, there is a positive growth rate in both EPS and ROE, but negative in both FCF and PE. ROE may be at a significant high growth rate because of the out of norm results that were calculated for the years of 2002, 2003, 2005, and 2008 as mentioned above. In each of these particular years, shareholders equity was low in comparison to net income (negative in 2002) which resulted in abnormal figures Value Line did not wish to indicate. FCF has a negative growth rate since in 2005 it was at an unsustainable figure of 1. 07 and then drastically declined to . 34 the following year and even lower to . 25 in 2007.This drastic change coupled with another fluctuating high and low between 2008 and 2009 are factors for this negative growth rate. In relation, although not as drastic, for PE results more visibly decline in the last two periods of 2008 and 2009. Avon Products, Inc Financial Variables Analysis EPS ROE FCF PE Normalized 8th Period $1. 55 $156. 38 $0. 46 $22. 18 Normalized 7th Period $1. 51 $121. 35 $0. 5 2 $22. 7 Current to Normalized 0. 93 0. 31 0. 79 0. 84 Growth Rate 3. 09% 28. 87% -12. 80% -0. 88% Another aspect of the descriptive and regression analysis that is important to point out are the R-squared and skewness. R-squared, also known as the coefficient of variation, is helpful in providing a measure of how well emerging outcomes are likely to be predicted by the model.The values for R-squared range from 0 to 1 the closer to 1 the results are, the better the fit of the predicted values and the more down-to-earth or reliable they are. R-squared can also be explained as the strength of the relationship between time and the variable. For all four financial variables, the R-squared figures range from . 01-. 25, which are indicative of weak relationships between time and each of these variables. None of the data points for these variables are strong measures of how well the regression line approximates the real data points. skewness is a measure of the asym metry of the probability distribution of a real-valued variable (Wikipedia. com). The results are usually either positive or negative, or in some instances undefined.A negative skew in characterized and having the mass distribution concentrated on the right of the figure or in most recent years and has relatively few low values. A positive skew has a mass distribution concentrated on the left o the figure or in earlier years and has relatively few high values. For both EPS and PE, the skewness is positive in contrast to ROE and FCF which are both negative. Growth for EPS and PE both took place in recent years while growth for ROE and FCF took place in earlier years. Avon Products, Inc Financial Variables Analysis EPS ROE FCF PE R-Squared 0. 1041 0. 2092 0. 2527 0. ci Skewness 1. 0284 -2. 5446 -0. 3754 0. 8432 For the remaining financial variables, the same analysis was produced. Interestingly enough, the CNE for these variables fall within the normal expected range of . 85 1. 15, except for BV which is slightly over at 1. 18. These figures range from . 91 1. 04. The growth rates for DIV, CF, BV and SPS are positive, but are negative for Shares, OM, NPM and RTC. The negative growth rate of Shares means that the company is buying back their stock. For R-squared the only strong relationships between time and that variable were DIV at . 584, Shares at . 8963 and SPS at . 9632. The R-squares for BV and RTC are relatively moderate. Skewness for DIV, BV, OM and NPM are negative with growth occurring in earlier prior years and skewness for CF, Shares, SPS and RTC were positive with growth occurring in the latter years. Avon Products, Inc Financial Variables Analysis EPS 2009 1. 45 Growth Rate = 3. 9% Payout Ratio = 36% Discount Rate = 7. 10% Avon Projections 2010-2019 Period eld EPS DIV PV 1 2010 1. 49 0. 54 $0. 50 2 2011 1. 54 0. 55 $0. 48 3 2012 1. 59 0. 57 $0. 47 4 2013 1. 64 0. 59 $0. 45 5 2014 1. 69 0. 61 $0. 3 6 2015 1. 74 0. 63 $0. 42 7 2016 1. 79 0. 65 $0. 40 8 2017 1. 85 0. 67 $0. 38 9 2018 1. 91 0. 69 $0. 37 10 2019 1. 97 0. 71 $0. 36 PV total of dividend payout for the next 10 years $4. 26 Terminal Value The 2019 stock price calculated reflects the value of all prox dividends or cash flows in perpetuity.In order to determine the 2019 stock price the following will be needed Because when using the above offshoot the discount rate is assumed and one of the biggest variables that may fluctuate and thus cause the result to differ, other methods should also be considered when doing a company stock price valuation. One other such popular method is the Capital Asset Pricing Model (CAPM). Capital Asset Pricing Model (CAPM) The main purpose of this model is to explain the relationship between risk and the expected return that a stock may yield and is used in the set of risky securities (Investopedia). The following formula is used in the calculation of CAPM o CAPM = Rf + (a (Rm Rf) Rf = Risk-free rate (Treasury bond rate) assumed at 5% o Rm = Expected market return assumed at 12% o (a = Beta of the security from Avons Value Line beta is . 95 Thus, when using this CAPM formula to calculate the discount rate, the following result is returned CAPM = . 05 + . 95 (. 12 . 05) = . 1165 = 11. 65% discount rate (Ke). This new discount rate of 11. 65% is now inputted into the dividends projections table done previously. The new table is shown below with a PV total of dividend payout for the next 10 years now at a trim amount of $3. 45. The new terminal value also decreases to $16. 87 as well as the PV of this 2019 stock price to $5. 60.The stock remains overvalued with an intrinsic value of $9. 06 compared to the current price of $29. 22. The price-to-intrinsic is now 3. 23. Variables used to determine PV total of dividend payout for the next 10 years EPS 2009 1. 45 Growth Rate = 3. 09% Payout Ratio = 36% Discount Rate = 11. 5% Avon Projections 2010-2019 Period Years EPS DIV PV 2 2011 1. 54 0. 55 $0. 45 3 2012 1. 59 0. 57 $0. 41 4 2013 1. 64 0. 59 $0. 38 5 2014 1. 69 0. 61 $0. 35 6 2015 1. 4 0. 63 $0. 32 7 2016 1. 79 0. 65 $0. 30 8 2017 1. 85 0. 67 $0. 28 9 2018 1. 91 0. 69 $0. 25 10 2019 1. 97 0. 71 $0. 24 PV total of dividend payout for the next 10 years $3. 45 The only way that Avon stock would be considered undervalued would be at a discount rate of about 4. 9% or below as shown in the table below. Variables used to determine PV total of dividend payout for the next 10 years EPS 2009 1. 45 Growth Rate = 3. 09% Payout Ratio = 36% Discount Rate = 4. 0% Avon Projections 2010-2019 Period Years EPS DIV PV 2 2011 1. 54 0. 55 $0. 50 3 2012 1. 59 0. 57 $0. 50 4 2013 1. 64 0. 59 $0. 9 5 2014 1. 69 0. 61 $0. 48 6 2015 1. 74 0. 63 $0. 47 7 2016 1. 79 0. 65 $0. 46 8 2017 1. 85 0. 67 $0. 45 9 2018 1. 91 0. 69 $0. 45 10 2 019 1. 7 0. 71 $0. 44 PV total of dividend payout for the next 10 years $4. 75 X. Rule 1 The Four Ms Meaning Moat caution Margin of Safety (Sticker Price) Does the business have meaning to you? Since my tender age of 4, I think going door-to-door with my mother distributing Avon brochures and samples. Not only was she a single mother at the time, but she also went to school and worked another part-time job. My mother eventually left her part-time job and made Avon her full-time career. She now has 25 years of selling Avon and making a living out of it.My step-father also quit his full-time job and dedicated his time to helping my mother out with the business. My whole life I have seen my mother work her hardest to give me anything and everything she could to raise me and get me to where I am now and she could not have accomplished that if it werent for her loyal commitment to Avon Products. She built her business from the bottom up just like any other Avon representative. She now works from home and has all her clients come to her. My mother has always told me that she eventually wants to hand over the business to me and I have taken this opportunity in Finance class to learn more in-depth about the company and what it offers not only as a business owner but also as an investor.Ironically enough, just about a month ago my mother showed interest in place in the company (yes, after 25 years ) and asked me about whether she should and if so how much she should invest. This evaluation project gave me even more reason to choose Avon Products, Inc as my chosen company of interest. Does the business have a wide Moat? Or in other words, is the companys future predictable? Avon has been in existence almost 100 years, 95 to be exact. It has had an exciting development from start to present going from being solely in the perfume/cosmetics market to expanding their products to include an array interests from kids toys to mens sports watches.They have captured a competitive advantage from the beginning starting off as the first to introduce direct selling and now being a well renown beauty global entity they have indeed establishes a good name for themselves. Avon continues to do extensive research to keep up to par with their different markets and products and continuously strives to improve what they already have and produce new products. Many companies have hence since followed in Avons footsteps, realizing the success Avon has had with focusing on interpersonal sales and customer service. Avon has a well-established name and reputation and many customers have been loyal since their early years. The Management Ever since the beginning up until 2001, Avon has had male CEOs.Some find that a bit peculiar being that Avon prides itself on being the Company for Women. permits keep in mind though the history of this company as mentioned in the first part, Avon was created by a man by solidus perhaps, but definitely with good intentions. As of 2001, the new CEO, Andrea Jung, has brought new hope and meaning to the company. Since her leadership started the company has revolutionized into a new identity with Representatives truly thought and living the motto of the company. Both customers and Representatives have more confidence in the company and it has portrayed overall both in the financial and operational functions of the company. Safety of Margin (Sticker Price)On Rule 1s website www. ruleoneinvestor. com, Phil Town, provides various calculators that aid in the decision to buy or not buy a particular stock by inputting various company figures to produce the companys true value. Step 1 data Input Current EPS 1. 45 Years 10 EPS Growth Rate 13% Step 1 Result Future EPS = $4. 92 Step 2 Calculate Future Value Data Input Future EPS $4. 92 Future PE 18 Step 2 Results Future Value = $88. 56 Step 3 Calculate Sticker Price Data Input Future Value/Share $88. 56 Min Acceptable ROI 15% Years 10 Step 3 Results Sticker Price $ 21. 89 Step 4 Calculate Margin of Safety Data Input Sticker Price $21. 89 Step 4 ResultsMargin of Safety $10. 95 Overall Results $21. 89 $29. 22 (Current Price) = Stock is Overvalued = Sell/Not Buy XI. Conclusions /Final Stock Judgment Based on all the analysis previously set forth here, the best recommendation for an investor would be not to buy Avon stock or to sell their Avon stock if they currently hold interest in the company. Finding that the intrinsic value of the company using two separate methods (AAA bond rate & CAPM) both return a valuation that Avons current stock price is undervalued, would understandably be sufficient to determine that it would not be the best of choices to invest in the company at least for the current time.The difficulty as well in trying to formulate a regression analysis for ROE also points to the companys weaknesses since shareholders equity has not shown a constant, positive performance and even at times negative. Income generation for stockhold ers is not quite strong and would require further, long-term watch if an investor has a personal interest in the company to be able to invest at a later time when the value of the current stock is really what it is worth. Furthermore, recent news indicates it is not the greatest time for Avon in terms of earnings as they have spent a great deal on advertising. Getting out of the Japanese market may have been the most perfectly timed move they have made.Although Avon is currently not seen as one of the strongest companies to invest in at the moment, reviews have said not to leave Avon behind for the future. They are slowly regaining momentum and being that their beta of . 95 is still below the markets beta of 1. 0, it is not one of the riskiest out there. Also, it must be reminded that with a good Technical ranking of 2, Avon has short-term capital gains, in the three to six month timeframe. At a financial strength of a B++, the company is still in good shape and can most likely surv ive a depression better than other companies. The company has sufficient liquidity to payout their dividends or increase how much they give as dividends.Investors should still proceed with caution if even in the future the company still maintains a Safety rating of 3 and a Timeliness rating of 4 as these ratings do not give the company enough leverage to be deemed financially reliable. In addition, with a Price Growth Predictability (PGP) of 45, Stock Price Stability (SPS) of 75, and an Earnings Predictability of 65, the company does not perform more than average in all of these areas meaning they dont really beat the index, they are somewhat stable, and they have an average consistency of earnings. Overall, all of the above inconsistencies and especially the overvalue of the current stock price, will not lead to satisfactory returns.Perhaps in the near future the tables will turn as the company does have many opportunities and room for slow growth, but it will require a watchful ey e. Avon is a trusted company with a rich history, especially among women, so there is much possibility of vast improvement and capabilities of big interest to investors if the company is more observant with their financial movement and take care of their shareholders. XII. References Avon Products, Inc. Avon. com. 2011. 2 April 2011 Datamonitor. Business cum Premier. 7 June 2010. 3 April 2011 Fidelity. Fidelity. com. 2011. 8 April 2011 Hoovers Inc. LexisNexis Academic. 8 April 2011. 8 April 2011 Investment Underground. Seeking Alpha. 21 March 2011. 2 April 2011Investopedia. Investopedia. com. 2011. 6 April 2011 Kaplan, Jerome H. Value Line. 2011. 2 April 2011 LOreal. Loreal. com. 2011. 6 April 2011 Money-Zine. Money-Zine. com. 2011. 4 April 2011 Revlon. Revlon. com. 2011. 6 April 2011 Roberts, Andrew. Bloomberg. 17 March 2011. 2 April 2011 Sommer, Ron. Seeking Alpha. 21 March 2011. 2 April 2011 Town, Phil. Rule 1 The Simple schema for Successful Investing in only 15 Minutes a Week . 2011. 9 April 2011 Wikipedia. Wikipedia. com. 2011. 6 April 2011 Zachs. Yahoo Finance. 16 March 2011. 2 April 2011 XIII. Appendix picpic pic merged Valuation Avon Products, Inc. (NYSEAVP) F

Frankenstein Essay

Within the story of Mary Shelleys, Frankenstein, we meet a character who comes designate on with the advancements of science and the evolution of man. Victor Frankenstein is obsessed with the idea of creating vivification. He struggles with his own intelligence and the morality of the society around him. He is continuously daunted by the accepted laws of nature. The significance of his statement, heap was too potent, and her immutable laws had decreed my utter and terrible destruction he finally realizes that his efforts to build and sustain life were no match for the powers of nature.It is upon returning to school after the near death of Elizabeth and the death of his mother that he becomes obsessed with creating life. Victor makes the statement I get out pioneer a vernal way, explore unknown powers, and unfold to the world the deepest mysteries of creation. (pg 33) This after hearing a lecture of modern chemistry by Professor M. Waldman. Over a period of time Victor collecte d a series of body parts from graveyards to assemble in a new human form. With his knowledge of chemistry, biology and anatomy he reanimated his creation into an eight- foot monster.After bringing life to his eight foot creation, Victor realizes he should not have gone against the laws of nature. Victor is horrified to realize his creation has murdered his brother William. Victor cannot explain his creation and its evilness to his family without them thinking he is mentally ill. Victor nearly goes mad with the realization that because of his creature, his brother is killed. Falsely accused of Williamss murder, Justine is executed after hard evidence unfolds upon her. Because of his obsession of creating life, he has taken life away.In his depression, Victor decides that his creature must be found and destroyed. Natures Laws should not have been toyed with. Victor sets out on an expedition in the mountains and finds the monster. To his surprise the monster seems to be intelligent and refined, but the monster has resentment of Victor for having been sent out on his own with no one to educate or nurture him. It was because of the monsters resentment that ultimately William and Justine were killed.Victors scientific ambition consumed his life. To go against the Law of Nature to prove that man can create life. Mental and physical setbacks plagued Victor while dealing with the reality of his creation. He suffers because his passion for creating life has taken away those around him that he loved. The significance of his statement, Destiny was too potent, and her immutable laws had decreed my utter and terrible destruction he finally realizes that his efforts to create and sustain life were no match for the powers of nature.

Human Resources Management Essay

Human Resources Management (HRM) is a new concept. It is a combination of HR, Accounting, Management, Financial Management and Economics. Globalization to would economy has exposed the somatic business organization to worldwide competition, mobilization of professional manpower and modern quantitative management practice. So, there are growing realization cannot achieve its culture effectively and efficiently. To face this complex management challenge, effective objectively measurable database system to measure and apply HRM information.Now-a-days, in Bangladesh, every year, and colossal amount of gold and talented HRM are being engaged by corpo incline to improve the productivity or skills o f their workforce across the country. Such huge expenditures are made with the expectation of future returns in terms of improved services to be rendered by skilled employees. In other words, organizations by commit human resources development definitely increase the service potentials emb odied in human resources and these investments thus create stinting assets for the organizations.Human resource (or personnel) management, in the sense impression of getting things done through people, is an essential part of every managers responsibilities, but many organizations find it advantageous to establish a medical specialist division to provide an expert service dedicated to ensuring that the human resource function is performed efficiently. People are our most valuable asset is a commonplace which no member of any senior management team would disagree with. Yet, the reality for many organizations are that their people remain under valued, under dexterous and under utilized.The rate of change facing organizations has never been greater and organizations must absorb and manage change at a much faster rate than in the past. In order to implement a self-made business strategy to face this challenge, organizations, large or small, must ensure that they have the rectify p eople capable of delivering the strategy. There is a long-standing argument ab pop where HR-related functions should be organized into large organizations, e. g. , should HR be in the Organization Development section or the other way around? The HRM function and HRD profession have undergone tremendous change over the past 20-30 years. Many years ago, large organizations looked to the forcefulness Department, in the main to manage the paperwork around hiring and paying people. More recently, organizations consider the HR Department as playing a major role in staffing, cultivation and helping to manage people so that people and the organization are performing at maximum capability in a highly fulfilling manner. family Profile History of Partex GroupPartex Group is among the large Bangladesh private sector manufacturing and service based enterprises, owning and operating over 20 units giving value for notes to all customers. The group started modestly in 1959 in tobacco trading and with prudent entrepreneurship of our Founder Chairman Mr. M. A. Hashem today we have a stake in tobacco, food, water, soft drinks, steel container, edible oil, wooden get along, furniture, cotton yarn and the IT sector.After Bangladesh was established our Chairman set up M/S Hashem Corporation (Pvt) Ltd. n Chittagong city meeting the large demand of food and materials needed for sustaining the needs of a new nation through imports. From importing to import substitution was the attached logical step and the stepping stone into the manufacturing sector, which has matured to the multi million dollar diverse investment of the Partex Group today. A dedicated work force and committed board members led by our Chairman and backed by a market oriented corporate strategy has been the cornerstone of our success.Today the group has over twenty family owned private limited companies with a sizable turnover. Ours is a dynamic organization always exploring new ideas and avenues to expand an d grow further. Long before surroundings came to dominate the development agenda. Star Particle Board Mills in the sixties pioneered an eco-friendly industry to reduce pressure on our scarce forest recourses. It is a unique combination of environmental protection and commerce belaying most doomsayers who claim the two to be at odds.The one score and ten year successful perpetuation of our timber substitute products not only speak volumes of the foresight of Partexs founders but also their vision of the future. They make particle board from agro-waste, mostly jute stalks, and ensure greater value to the jute growers of Bangladesh. Products are processed using modern technology to produce homogenous and strong particle board that can give seasonal change and are free from termite and fungal attack. These particle boards go on to produce veneered boards of various design and texture.Also door panels both(prenominal) plains and decorative in various finishes and sizes. In addition th eir produce special furniture boards, stylish furniture and even various plywood on our range of products. Beside, in ho delectation and outside training, recruits business graduates from reputed universities as management training for mainstream banking to enrich lumber of human resources contributing towards operations effective and long-term sustainable results. Vision Statement The Sky is not the limit for us, but their expectation is within limits.Therefore, their imagination soars beyond conventional barriers. Partex Group share or helping with their beloved motherland. They want to serve her in the greater quest for national uplift. Mission statement To sincere traveler, the way is never too long. Partex Group believes in progress in diversity and service through entrepreneur. They are merchants and missionaries, doers and dreamers, entrepreneurs and professionals. They are futuristic with emphasis on creating thinking and dynamic action. High quality financial services wit h the help the latest technology.Fast and accurate customer services Balance reaping strategy High standard business ethical motive Steady return on shareholders equity. Innovative banking at a competitive price. Attract and retain quality human resource. Firm commitment to the society and the growth of national economy. The spirit Enterprise is Partex Groups spirit. Partex Group manufactures superior import-substitute consumer and industrial products. Their cutting edge precision leads to greater public utility and hygiene, with a great care for the environment and human inhabitation.It is the very ingredient that gives their organization the integrity upon which their reputation is built and we zealously guard it everyday. Many a railway yard minds of their group contributed to their gathered knowledge to keep the wheels rolling that in turn leads them to goal. This cumulative strength of knowledge is required, today, to find new solutions for the manifold problems of fast- chan ging economic cultural and ecological milieu. Objectives Partex Group is a customer focused modern banking institution thriving fast in both earning and ability to stand out as a leading banking institution in Bangladesh.They deliver unparalleled financial services with the touch of heart to Retail, Small and Medium Scale Enterprises (SMEs), corporate, institutional and governmental clients through the outlets of branches across the country. Their business initiatives center on the emerging need of the clients. Partex Groups client commitments are the following Provided services with high degree of professionalism and use of most modern technology. Create life-long relationship based on mutual trust and respect. Respond to customer needs with speed and accuracy.

Culture of Chinese Family Stereotype Essay

Taiwan, my mother country, though suffering under complicated identification obscurity, is sound little applying Chinese culture and values. We still commemorate Chinese mod Year, QingMing Festival, potassium hydrogen tartrate Boat Festival, Mid-Autumn Festival, and so forth. We still believe in Confucianism and Chinese ethic moral rules alike(p) , , , , to name that a few. In addition, we similarly parcel out the similar diet culture, since our staple food mostly based on rice and noodles. There are surplus parallels between Taiwanese culture and those adoptive in the mother China even though weve been separated geographically for centuries.Though Taiwan is politically independent from China, as a Chinese, I would still accept the perspective that Im belonging to single-valued function of the Great Chinese Culture Region( ), as we can call it Chinese Family. Although modern engineering and knowledge h obsolete the line flourishing, citizenry nowadays may think that west ern culture somehow find stack more(prenominal), included religion believing , riotous food culture, insight of democracy and freedom, western literature, and so on. However, as a Chinese, I cant deny that Chinese culture did affect our occasional living physically and mentally.Many values originated from the superannuated people and philosophers, included those in ,,,, still maintain clear and essential in our mind , since we accommodate been taught to follow the concept and the worship the good deeds those ancient sages and virtuous, like Confucius, Zhuangzi, Mencius, Yao and Shun( ) have conducted. , , , , , , these values not only affect the way Chinese people think, but also become a sub consciousness which put out to the way we live.As we often emphasis the importance of studying, Chinese parents are will to spent their whole life working hard so their children can accept better education because they believe the sayings, , , . In contrary, western families tak e less focus on their childrens academic performance they would rather think that children should seek out their interest instead of obtaining all A grades at coach. Furthermore, it would also affect how parents give instruction their children, and this educating concept would pop off on by generations. And the phenomenon is just the same in Taiwan as that in Mainland.As most Chinese parents always believe and hope their children to be the best( , ), they usually devote more than western parents do, just to provide the best resources for their children. This may somehow spoil a child, too. As Chinese family often pass their fortune to their descendants, rather than considering parents fortune as their own, offspring of a wealthy family may no longer anxious(predicate) to achieve his own life goal and seek his own fortune. In contrary, western children usually summation their own fortune by their hand, on their own, which is considered more independent and responsible.Theres a r eal story of a business man. Because hes so busy and so was his wife, theyve decided to drive their 13 years honest-to-goodness son to New Zealand for a couple of months, and on that point was a friend named Marry, who could take care of their child. When the child met Marry, the first occasion she said was, Listen, my sweet heart, Ill like to notice you that Im here only to take care of your living, but doesnt mean I should come you breakfast, do your laundries and dishes, you should do it all by yourself. Youre now 13, which is definitely able to start taking care of yourself.Parents arent responsible to brass after your whole life thus, you should be independent from now on. You live your life and I do mine own business, is that clear enough? later 6 months, while the business man and his wife picked their son back from New Zealand, theyre totally stunned their son had changed thoroughly mature. He began to make breakfast, woke up early himself and was able to schedule hi s own life, which he never did before. This dramatically change simply based on how western and eastern parents educate their children.As a result, it leads to the circumstance that western children are usually more independent. In addition, the value of women rights also maintain deeply in Chinese peoples mind, though we are now in a world advocating gender equality. Even nowadays, some people still believe the concept , , , , , but mostly the elders. Thanks to the revolution New Culture Movement ( ) brought to the Chinese society. People started to explore and accept new technology and knowledge, not only the recognition of Democracy() and Science( ), but also the new century values.For instance, in the old days, women are forced to bound their feet from their young ages, so that their feet may look tiny and delicate, which ancient Chinese regarded as sexy and beauty. They even worshiped tiny feet as . This cordial usage only happened in the upper classes which higher shape women did not subscribe to to deal with tuff tasks that rural area women did. On the other hand, it also lead to the phenomenon that women were having lower social position than men were.But after the New Culture Movement and other further revolutions, women gradually stopped to suffer from the pain bounding feet brought to them, and started to handle more housework little by little, womens social status had been raised. When it comes to the argument of womens right and discrimination, its no doubt that Chinese ancient culture and concept have deeply influenced the way the majority behaves. Not only in Mainland, but also the whole Chinese cultural region, included lacquer, Korea, Vietnam, Thailand, and other South East Asian countries.Take Japan as an example, Japanese girls are well known for their virtuous behavior, while men are quite accustomed to chauvinism( ). This may be somewhat resulted from the old sayings originated from China for instance, , , , and so on. However , women status obviously do rise in this century, modern parents may be more willing to give birth to a girl because they may think girls are sweeter than sons, ignoring the stereotype that having a boy is better than a girl.This stereotype is resulted from the traditional custom that boys are able to pass the family name, while girls no longer belongs to the family after theyre espouse. Plus, this is also a chief reason why ancient Chinese family sent a boy to school rather than a girl, cause only when a boy achieve high social status after , will the whole family gain benefits. Thus, brought out a novel which the feminine role have to disguise herself as a guy so as to be able to watch education.We can see that phenomenon changes not only in giving birth to a baby, but also in education providing. In the old times, in that respect were mostly boys that could access complete education instead of girls, but now, we may even discover that the numbers of girls are surprisingly hig her than boys. Which some researches itemize that its because girls are innately more careful and thoughtful than boys are. The case is similar in industries and working places, more and more Iron ladies exist and keep on controlling the whole company, which may be more success than men.Whats more therere even throngs of specific phrases for modern women, like , , (which refers to women that havent married but are successful in their carriers), and so forth. There is an awkward circumstance that women in upper social status are mostly unmarried, and so as men within lower social status. This is due to two main reasons first, women education is relatively emphasized than that in the past second, traditional concept has that a woman should marry a man better than she is.As the result, a woman graduated from high school may marry a man finished college studying woman finished college studying may marry a guy accomplished graduated school woman accomplished graduated school marry a PHD guy and a PHD woman may marry a professor thence who will a female professor marry? Obviously not a guy graduated from high school This worrying case lead to a sad ending, which then somehow may strictly proofed the saying .However, to my opinion, I think this is a controversial issue because being married involves mostly on love itself, we shouldnt blame it all to the Chinese cultural effects. But frankly speaking, we cant ignore truth that these old sayings somehow match to the phenomena were now facing. Even though women are now capable enough to compare with men in industry fields, there still exist , which means however hard women try, the promotion rate and the salaries are relatively lower than that of mens.This may also be an takings of the Chinese stereotypes that men are more capable then women are when it comes to work. For conclusion, old Chinese concepts truly influence modern society deeply in an unmeasurable degree. All in all, although ancient Chinese empir es had faded into history, glorious kingdoms had turned into dust, brilliant philosophy of ancient saints only exist in books now, the influence they brought to this Chinese world still remain and just couldnt be erased from our mind. Chinese culture and ancient concepts couldnt be ignored.Theyre now the biggest part of our life because theyre what we come from, and what foster us. Its our soul, our mother characteristic. Also, theyre things that allow us to identify ourselves as a member of this huge Chinese Family. And because its uniqueness and specialties, were always able to find our loyalties. In this complex culture integrated world, finding a sense of belonging is really important, because it may make us feel comfortable and gleeful to be part of this big family. We can even say that, without Chinese culture, we cant be who we are now.Cherish our culture and maintain it well so as to pass the Chinese spirit on and on is what our generation should do. disrespect of focusing and arguing on whether Im a Taiwanese or a Chinese, Its more vital and meaningful to define myself as a member part of Chinese culture. Im from Taiwan, and Im a Chinese. Im proud of my identity Im proud of this Chinese family I belong to. Its where my mind and spirit mature, where my ancestor struggled for their lives and for the next generation, for us.

Organization of learning experiences Essay

There are a number of issues with this approach to political platform theory and practice. The first is that the plan or programme assumes great importance. For example, we might look at a more recent definition of curriculum as A program of activities by teachers designed so that pupils go forth attain so far as possible certain educational and other educate ends or objectives 4. The problem here is that such programmes inevitably exist prior to and outside the learning experiences. This takes much away from learners. They can end up with junior-grade or no voice.They are told what they must learn and how they will do it. The success or failure of both the program and the individual learners is judged on the institution of whether pre-specified changes occur in the behaviour and person of the learner. If the plan is tightly adhered to, at that place can only be limited opportunity for educators to make use of goods and services of the interactions that occur. It as well can deskill educators in another way. For example, a number of curriculum programs, particularly in the USA, have attempted to make the student experience teacher produce.The logic of this approach is for the curriculum to be designed outside of the classroom or school. Educators then apply programs and are judged by the products of their actions. It turns educators into technicians. Second, there are questions well-nigh the nature of objectives. This puzzle is hot on measurability. It implies that behaviour can be objectively, mechanistically measured. There are obvious dangers here there always has to be some uncertainty about what is being measured. We only have to reflect on questions of success in our work.It is often very difficult to judge what the blow of particular experiences has been. Sometimes it is years after the event that we come to appreciate something of what has happened. For example, most informal educators who have been around a few years will have had the experi ence of an ex-participant telling them in great detail about how some forgotten event brought about some fundamental change. Yet there is something more. In order to measure, things have to be broken down into smaller and smaller units.The result, as many of you will have experienced, can be enormous lists of often trivial skills or competencies. This can lead to a charge in this approach to curriculum theory and practice on the parts sort of than the whole on the trivial, rather than the significant. It can lead to an approach to education and assessment which resembles a shopping list. When all the items are ticked, the person has passed the course or has learnt something. The role of overall judgment is somehow sidelined. Third, there is a real problem when we come to examine what educators actually do in the classroom, for example.Much of the look for concerning teacher thinking and classroom interaction, and curriculum innovation has pointed to the lack of impact on actual pedagogic practice of objectives. One way of viewing this is that teachers alone get it wrong as they do not work with objectives. The difficulties that educators experience with objectives in the classroom may point to something inherently wrong with the approach, that it is not grounded in the study of educational exchanges. It is a model of curriculum theory and practice largely imported from technological and industrial settings.Fourth, there is the problem of unanticipated results. The focus on pre-specified goals may lead both educators and learners to overlook learning that is occurring as a result of their interactions, but which is not listed as an objective. The apparent simplicity and tenability of this approach to curriculum theory and practice, and the way in which it mimics industrial management have been powerful factors in its success. A further appeal has been the ability of academics to use the model to attack teachers.There is a tendency, recurrent enough to sugg est that it may be endemic in the approach, for academics in education to use the objectives model as a stick with which to beat teachers. What are your objectives? is more often asked in a tone of challenge than one of interested and helpful inquiry. The submit for objectives is a demand for justification rather than a description of ends. It is not about curriculum design, but rather an expression of irritation in the problems of duty in education. 5

Does education always provide a means to better life? Essay

Education is believed to be a good bet for success. It is for this reason that governments cloak huge amounts of resources with the aim of ensuring that its spate acquire education. The Millennium Development Goals (MDGS) were a set of goals accepted by nations for the purpose of ensuring recrudesce lives for the pot of the world. The second goal of the MDGs deals with the achievement of the universal primary education. It is no enquiry that the importance of education can non be underestimated. However, education that is understandt in class is based on books, facts and theories. This knowledge is does non exist in the hands of the be arer thus, to succeed and have a best(p) life depends on how one utilizes the knowledge as it entrust be discussed in this paper.A classroom is composed of people from different backgrounds. It is expected that the brains of the students are not homogenous. Some people have high IQ levels charm as others have lower levels. It thus implies tha t there are people whose academic performances are better than others. Once it comes to the job market, the criteria of hiring and recruiting employees is based on the skills that individuals possess. in that location are high possibilities that those people who passed the exams with good degrees lock up struggle to have better lives time others who failed succeed very well as it is evident in everyday life. The truth is that success in life is based on the skills other than what people l exonerate in schools. Life has proven to take a different dimension in how people succeed. There are people who drop out of school but they end up being millionaires while others study consistently and still continue to struggle for better lives.Not everything that is learnt in school is applicable in life. What is learnt in schools is the methods that one can apply in life based on skills and talents to go out a successful life. These skills are usually learnt out of class while others are in herited by means of heredity. It is ones responsibility to interpret these skills and talents so that he or she may apply them in daily life to succeed. This calls for someone to think out of the knock. One who is able to think out the box has the chances to strategize things that need planning for the purpose of better life. It is for this reason that some people with professional degrees struggle to earn a better life since they over commit on what they learnt other than thinking out the box.A big gap exists between the educated people those who did not get an opportunity to go to school. Those people who did not get an opportunity to study find themselves struggling to survive. The uneducated people in the cabaret know that they do not have a choice other than to work hard if they rely have to succeed. On the contrary, the educated people fail to work hard since they believe that they stand a better chance in life as there are many job opportunities available to them. The e ducated forget that there are few job opportunities available since many people are today educated thus making the job market competitive.In conclusion, education can be termed as tool that can lead ones path to success but it is not a ticket for a better future. Education on the other hand will stop that someone is well respected in the society. This respect can only be rewarded by the few job opportunities available in ones locality. Securing such jobs does not mean that one will have a better life. As such, one is required to think out of the box and realize how he or she can apply the knowledge acquired in order to have a better future.

Baseline Magazine

Baselinemag. com is a grade which has been put in place to ideally serve as a guide on various aspects of engine room. That is, it manages and disseminates critical information on technology. This information is usually in form of news stories, research studies, financial tools and company dossiers.As such, the site is structured in a prescribed format which can allow users of the site to gather all the information they need, perform analysis and denounce decisions on how to utilize the information in advancing their individual IT companies.Considering that the site is targeted at IT executives, the sites sub topics acknowledge a range of IT subjects such as IT management, techdirect, projects and white papers (Baseline, 2010). Furthermore, the subtopics which fall under these categories can be observed throughout the site making it easy for site users to access the exact information they atomic number 18 looking for immediately the site uploads. Basically, the site is structur ed in such a way that wiz uses limited time trying to access data, a notion which appeals to the targeted audience.Overall Look and Feel Baselinemag. com targets technology and personal line of credit leaders who ar constantly on the lookout for cutting edge information on technology and on effective ways of managing their companies. As such, the site displays IT systems which go for been implemented by other companies, how they have been implemented and the results emanating from them. This sort of information enlightens the users who measure their induce success or failures against the expected results.By knowing how the intimately successful companies utilize IT solutions, companies are able to restructure their systems and alter their management strategies into fitting those of a triumphant company. All this information is spread out over a white colored background, with topics and subtopics highlighted by orange, embrown and blue colors. These colors create a serene env ironment, depicting calmness which allows the user to fully centralise on the information without any interruptions. The number of images is limited in the site and this gives the information greater significance.However, the site may not appeal to them as there are no catchy images. Useful Features The brag I shew most useful was the stories posted on how to get promoted and on finding jobs online. These stories had no forms of jargon and have been written in a simple language to appeal to public individuals want to advance in their careers. Majority of users are employees who are looking to get ahead in their careers, this skylark can offer crucial information to ensure that they achieve this. Interesting Features Links visited included www.diskeeper. com, www. insight. com and www. smarttechnology. com. The joining sponsored by smart technology was rather interesting as it carried the article on the techies guide to fitness. It offered a convenient and easy way of monitor ing ones fitness goals level(p) while working. The gadget can indeed send significant details on ones fitness directly to their phones or computer. Furthermore, Bottom-line Evaluation and Relation to Learning Objectives Basically, this site is of great value to line of reasoning leaders and IT executives.However, its values decline in regards to ordinary people due to the irrelevance of the topic and subtopics found on the site. As pointed out earlier, save one or two features are relevant to an ordinary individual. According to Lagace (2000), value is depicted by a customer when the service delivery is effective. As such, the expiation of business leaders and executives is what can ideally rate this site while those stumbling on it can only speculate or even find it insignificant.Hoffman (1996) illustrates that past experiences can be advantageous when one is venturing into their own business. As such baselinemag. com offers even better options of evaluating other companys expe riences and learning from them. Bayan (2003) contends that there are tools which are quite useful while setting up an effective help desk and in the disembodied spirit of a company executive or business leader, baselinemag. com is one such tool. References Baselinemag. com. (2010). ZiffDavies, Inc. Retrieved on 23rd July 2010, from www. baselinemag. com Bayan, R. (2004).Try these ability strategies when setting up a successful help desk. TechRepublic. Retrieved 23rd July 2010, from http//articles. techrepublic. com. com/5100-10878_11-5112468. hypertext mark-up language Hoffman, R. (1996). Help is Only a Phone Call Away How to get good service. The Real World. Retrieved 23rd July 2010, from http//www. animatedsoftware. com/misc/stories/jobs/dbmscntr. htm Lagace, M. (2000). Calling all Managers How to take a leak a Better Call Center. Harvard Business School Working Knowledge. Retrieved on 23rd July 2010, from http//hbswk. hbs. edu/item/1238. html

Fdi in Automobile Essay

Foreign sway enthronization (FDI) is a at once investment into production or bus iness in a sylvan by a company in another country, either by buying a company in the target country or by expanding operations of an existing business in that country. Foreign direct investment is in contrast to portfolio investment which is a passive investment in the securities of another country such as stocks and bonds. Foreign direct investment has many forms.Broadly, exotic direct investment includes mergers and acquisitions, twist new facilities, reinvesting profits earned from overseas operations and intracompany loans. 1 In a narrow sense, foreign direct investment refers just to building new facilities. FDI Inflows to Automobile manufacturing book been at an increasing ordain as India has witnessed a major economic liberalization over the years in terms of respective(a) industries. The cable car area in India is growing by 18 percent per year.The Automobile Sector in India- The mov e sector in the Indian patience is one of the high performing sectors of the Indian economy. This has contributed more often than not in making India a prime destination for many international players in the political machine industry who wish to set up their businesses in India. The auto industry in India is growing by 18 percent per year. The automobile sector in India was opened up to foreign investments in the year 1991. cytosine% Foreign propose enthronization (FDI) is allowed in the automobile industry in India.The production level of the automobile sector has increased from 2 million in 1991 to 9. 7 million in 2006 after the fraternity of global players in the sector. FDI IN AUTOMOBILE The automobile industry in India is growing by 18 percent per year. The automobile sector in India was opened up to foreign investments in the year 1991. snow%Foreign Direct Investment (FDI) is allowed in the automobile industry in India. The production level of the automobile sector has increased from 2 million in 1991 to 9. 7 million in 2006 after the community of global players in the sector. Import of components is allowed without any restrictions and also encouraged. Advantages of FDI in the Automobile Sector in India The primary advantages provided by India in the automobile sector include, advanced technology, cost-effectiveness, and efficient manpower. Besides, India has a well-developed and competent Auto supportive Industry along with automobile testing and R&D centers.The automobile sector in India ranks trio in manufacturing three wheelers and second in manufacturing of two wheelers. Opportunities of FDI in the Automobile Sector in India Opportunities of FDI in the Automobile Sector in India exist in * Establishing Engineering Centers * Two Wheeler Segment * Exports * Establishing interrogation and Development Centers * Heavy truck Segment * Passenger Car Segment.Important Aspects of FDI in Automobile Industry * FDI up to 100 percent, has been permitted under automatic route to this sector, which has led to a turn over of USD 12 billion in the Indian auto industry and USD 3 billion in the auto separate industry * The manufacturing of automobiles and components are permitted 100 percent FDI under automatic route * The automobile industry in India does not belong to the licensed agreement * Import of components is allowed without any restrictions and also encouraged.The FDI or Foreign Direct Investment in Indian Automobile Industry has opened up new avenues for the development of this all important(predicate) sector of Indian industries. The liberalization of government policies regarding FDI in the automobile industry of India has increased the scope of this industry. Initially, the automobile industry of India was ruled by national vehicle manufacturers like Premier Automobile and Hindustan Motors. The entrance of foreign automobile companies in the market was restricted by the imposition of high import tariffs and othe r policies and measures.The start-off FDI player in the Indian automobile industry was Suzuki. In 1980s this company entered into a control stick venture with Maruti Udyog, a state run enterprise. The then Indian government permitted this company to enter the Indian automobile market in 1983. In 1991, the government of India liberalized its policies regarding the automobile industry of India Foreign Direct Investment in the automotive industry of India was permitted. In 1993, FDI was also allowed in the passenger car segment of Indian automobile industry. The liberalization of governance policies with regard to FDI in Indian automobile industry has resulted in the fast growth of this industrial sector post 1993. The major global players in the automobile industry have invested in the Indian vehicle manufacture as well as auto component man manufacture. The major foreign players who have a significant role in the development of Indian automobile industry include the following For d from USA.DaimlerChrysler AG from Germany General Motors from USA Suzuki from Japan BMW from Germany Honda from Japan Renault from France Hyundai from southwestward Korea Toyota from Japan Foreign Direct Investment in the automobile industry of India has helped in the growth of this sector in terms of production, domestic sales and export. FDI is also permitted in the manufacture of auto components in India.