Edgar Allan Poe’s “A Dream within a Dream”

Edgar Allan Poe’s â€Å"A Dream within a Dream† (1849) is a poem dramatizing the losses of a man, and his reflection if his life is real or unreal. The narrator is reflecting about the elusiveness of things and people he value, since they all seem to disappear. The poem questions if reality is fantasy, thus the title, â€Å"A Dream within a Dream†. Since this was published in the year of Poe’s death, some assume that the narrator is talking about the death of his loved ones, and the troubles in his life.The poem begins with an image of parting and addresses a specific person. This person is only mentioned in the first stanza; the second stanza does not mention any person at all. Others interpret this person as abstract, meaning that the narrator talks to life or love personified, or any abstract idea, and not a real person. The narrator, talking to this person, ponders whether his â€Å"days have been a dream† (5), and speaks of losing hope. He sees his life as if he is trapped, as shown in the lines, â€Å"All that we see or seem/Is but a dream within a dream† (10-11).But first, to define the word â€Å"dream† is relevant in understanding this poem. A dream can either be images, ideas or sensations while sleeping, an aspiration or ambition, or an illusion or trance. Upon reading the poem, there is no question that the definition of the word â€Å"dream† in the poem is the last one given above, an illusion, but not necessarily a beautiful or happy illusion. There is no mention of sleeping or daydreaming, so then it is safe to assume that â€Å"dream† meant an illusion.One of Edgar Allan Poe’s well-known poems, the poem uses rhyme and meter, but it has inconsistent rhythm. Repetition is also used to emphasize the feeling of sadness and frustration, as in the fifth, eleventh, and twenty-fourth lines. These poetic elements and romantic characteristics such as the dramatization found in the lines , â€Å"O God! Can I not grasp/Them with a tighter clasp?† (19-20) and the use of simple but powerful images, make this poem compelling when read aloud.The images, especially in the second stanza, are striking and memorable. The lines, â€Å"And I hold within my hand/Grains of the golden sand/How few! Yet how they creep/Through my fingers to the deep,/While I weep— while I weep!† (14-18) might be alluding to either time or material wealth. The â€Å"grains of the golden sand† (15) is said to have been referencing to the gold found in California in 1848 (Silverman 402).This image of grains slowly trickling down evokes a feeling of frustration over the elusiveness of things that the narrator values, and that might or might not include money and personal possessions. Time could also be an allusion due to the fact that Poe had lost his loved ones in the past. The narrator might be saying indirectly that he is already feeling his death nearing.The last six lin es of the poem express the desperation to â€Å"grasp† and â€Å"save† (19, 22) the things he value. There is also a feeling of helplessness as the narrator watches the grains creeping through his fingers, and he cries, as shown in the line, â€Å"While I weep— while I weep!† (18)However, in the end he seems to question, not to state that he is in â€Å"a dream within a dream† (24). Unlike the ending line of the first stanza in which the line is written as a statement as though the narrator really believes that his life is all a dream, the last line of the poem is written as though the narrator is in doubt, or perhaps there is a little bit of hope in him.Some say that Poe wrote this poem after the death of his wife from tuberculosis, and that the person that the narrator is talking to in the poem is a woman. But that might not be, because this was published long after his wife’s death, unless he did write the poem from way back. Whether or n ot Poe wrote this because of his troubles or his depression is not certain.What is certain is that the poem tells of a person’s thoughts about what is real and unreal. Losing all the things he values makes him think, out of sadness, and perhaps, denial, that his life is just â€Å"a dream within a dream†.Works CitedPoe, Edgar Allan. Poetry and Tales. Ed. Patrick F. Quinn. New York: Library of America, 1984.Silverman, Kenneth. Edgar A. Poe: Mournful and Never-ending Remembrance. New York: Harper Perennial, 1991.Sova, Dawn B. Edgar Allan Poe: A to Z. New York: Checkmark Books, 2001.   

Introduction to Sociology: The Concept of Deviance Essay

Understanding that society has unavoidably primary influences on what is deemed deviant or not significantly reduces the confusion that abound concerning the subject. This paper presents this assumption and emphasizes the pertinent works of several experts in the field. Ahmad and Rosenhan in their separate treatises try to put forth convincing proofs and arguments as to their respective positions. In essence, this paper explains the stand of Ahmad and the discoveries and conclusions drawn by the experiment performed by Rosenhan. Culture, creed or religious persuasions unavoidably are crucial to the behavior of people which may be the benchmarks with which people base their actions, decision making and choices (Navada, 2009). II. CHAPTER 2 SUMMARY AND ANALYSIS The following questions will help the reader and student to make objective judgments on several key issues regarding their outlook on issues. The idea is that deviance according to society’s dictates can and will make or break certain ways of living, probably leading even to the annihilation of a number of people as the perpetrators might perceive their victims. Ahmad appears brilliant as to how he pursued the arguments concerning the validity of the West’s allegations about who are terrorists. The gist of his article was that the problem with society is that it has no permanent definition of a concept in particular. In the issue of terrorism, when it happened that a group of people or a country deemed another one lesser influential in terms of politicking, then the more influential or powerful a person is, the more he or his group sets the tone of morality and ethics: what is moral and ethical hinge on the degree of greed and selfishness of individuals. Rosenhan shows that being insane cannot be actually determined by whatever instrument or tool, or by what is dictated as the â€Å"normal curve. † The kind of study he made was an in-depth one and brings reality check to the people seriously involved in mental illness and restoring health. There were many observations that indeed were valid including the fact that grave responsibility lies with the head of these hospitals or organizations whose modelling or example mean death or life, recovery or real insanity for the individual patient. 1. Ahmad’s Article The point of view of Ahmad (1998) succinctly described in his article Terrorism: Theirs and Ours` must be read with as much as the removal of colored â€Å"glasses† which may be a hindrance as to getting this author’s point of view. It means that filtering his ideas through one’s personal biases and perspective may not be a very good idea at all. Rather, a Jewish person with his own arguments should probably pretend first that he is at the side of the writer and later take on his identity and worldviews (Ahmad, 1998). What is the author’s point in writing the paper? Ahmad simply states that terrorism depends entirely on who’s benefited by the action especially in grand scale (Ahmad, 1998). In the case of Palestine and Israel, and on the world’s stage, terrorism cannot be ascribed as such for as long as the West such as the United States remains in such a lofty position as a superpower. Their might and clout spell dominion and their own definition of what terrorism. Contemporary milieu shows that since the Palestinian people are not on the American side according to Ahmad, then this particular group of people has no say; and whenever they take up arms, it is not termed as a nationalistic campaign. Rather, it is terrorism. Ahmad also meant that America and its relationship to influential nations can be considered farce and the display of concern as charade (Ahmad, 1998). How does the author prove his point? The use of logic and/or deductive reasoning was how the author Ahmad tried to persuade his audience (Ahmad, 1998). What evidence do they use to prove their point? Ahmad saw to it that archival evidence supports his arguments well. He utilized the news and editorial clips and other sources to put forth the allegations that during the times that Israel was not yet a State, Jewish uprisings were acceptably known as terrorism. Evidences from print communications then turned around which made Palestinian revolts as works of terrorists (Ahmad, 1998). What do their findings say about deviance and society in general? Ahmad’s arguments simply posited that deviance is dictated by politics and power (Navada, 2009; Ahmad, 1998). It is the fact that in any given society, the ideology that permeates is one that is held by those in positions of authority, wealth and power. In the case of the existence of the Jewish State or that of the Palestinian identity, he argues that in their respective â€Å"reigns† these two races the emergence of the term terrorism is defined by the point of view of each. When the Palestinians were occupying the place, Jewish reformers or the Jewish desire for a country represented a threat and was described as terrorism; their leaders, called terrorists. Deviance, normality, or abnormality are terms inherently critical to society as the definition of the terms rests on the people governing a particularly society or institution. It is probably correct to think and draw conclusions that Mr. Ahmad is right concerning this point of view (Ahmad, 1998). However, it is entirely another thing when terror continues to be wrought in various places of the world by the vast network established by people of similar persuasions. It would be entirely simplistic to think along strictly along the line of thought that Mr. Ahmad was thinking (Ahmad, 1998). The world of humans is oftentimes unpredictable, changing and wondrously exciting. However, when these attributes become extremely bizarre and painfully detrimental, humans become sick and worried about to what extent can other humans afford to inflict harm against them. Suicide bombing is, if not the most, one of the most gruesome acts anybody can commit. It is outright crazy and stupid. One must be beside the normal to be entertaining such a thought in mind. Ironically, fanatics who have committed and attempted suicide bombings in the past, were deemed normal until the day when the execution of their ultimate plans were made public whether foiled or completed. People who are afflicted with mental disorder may, as other people, travel for the same reasons – vacation, visiting friends or relatives, business, recreation, and sometimes for religious or spiritual focus (Miller & Zarcone, 1968). Others indeed may travel for reasons other than the normal – for reasons triggered by malformed mental state such as the men who carried out the 911 attack of the Twin Towers in New York. Along the 911 attack, suicide bombing through aircraft came to prominence resulting in the stirring of the awareness among the international public of the fact that the regular traveller might not be that â€Å"regular† anyway. It is probable that some of them are driven by excessive anger or motivated by utopic hope as taught in the communities wherein they have pledged their life allegiance (Silke, 2003). 2. Rosenhan research What is the author’s point in writing the paper? Rosenhan’s breakthrough (1973) in mental institutions was a very interesting and inexplicably raw to the minds of figures or people who are in helping profession (Rosenhan, 1973). It is critical and contributes a sensitive fibre to a huge institution that caters to mental illness. There may be loopholes as to how the experiment was carried out including ethical issues to human participation but the results and the procedures were â€Å"loudspeakers† and are considered significant to the idea of labelling and the diagnosis of the mental illness (Rosenhan, 1973). How does the author prove his point? Rosenhan proved his point by direct and firsthand experiences of people who were participants in the study (Rosenhan, 1973). What evidence do they use to prove their point? With the thorough handling of data derived from these individual participant’s observations, he made generalizations and conclusions as to the state or condition of the Mental Institutions, the capabilities and efficiency of Mental Health Professionals were in question. His findings which were consistent to a large extent with many of his volunteers’ observations push the issue of proper diagnosis and labelling, use of diagnostic criteria, the abilities and qualifications and work ethics of people practicing in the mental health field to the fore and pose as challenge to the kind of profession being handled here (Rosenhan, 1973). What do their findings say about deviance and society in general? Specific items observed especially important to making generalizations in the discipline include the length of time that nurses, attendants and most importantly, the psychiatrists and psychologists spend with patients. By empirical evidence criterion alone, the practice drastically falls short on this aspect. In the area of diagnosis and subsequent intervention measures, the initial assessments, description aspect play a major role hence can never be relegated to a minor place in the practice. Mental illness then or deviance for that matter hinges on many issues brought out in the experiment (Rosenhan, 1973; Navada, 2009). III. REFERENCE PAGE Ahmad, Eqbal (1998). `Terrorism:Theirs and Ours. ` Accessed June 13, 2009 online at http://www. sangam. org/ANALYSIS/Ahmad. htm Gordon, Harvey, Mike Kingham, Tony Goodwin (2004).. Air travel by passengers with mental disorder. Psychiatric Bulletin 28:295-297. The Royal College of Psychiatrists. Jourad, Sydney (1963). Personal Adjustment. 2nd Ed. New York: MacMillan Company. Navada, Marianne Ryan-Go (2009). Principles of Sociology; Chapter 8, pp. 1-4. Accessed June 13, 2009 online at http://book. gonavada. com/html/Chapter8. html Rosenhan, David (1973). `On Being Sane in Insane Places. ` Accessed June 13, 2009 online at http://www. walnet. org/llf/ROSENHAN-BEINGSANE. PDF Silke, A. (2003). The psychology of suicide terrorism. In Terrorists, Victims and Society (ed. A. Silke), pp. 93 -108. Chichester: Wiley. Tiffin, Joseph and Ernest McCormick J. (1958). Industrial psychology. Englewood Cliffs, New Jersey: Prentice Hall, Inc.

Dark Knight Rises Essay

The Dark Knight Rises is a 2012 superhero film directed by Christopher Nolan, who co-wrote the screenplay with his brother Jonathan Nolan and the story with David S. Goyer. Featuring the DC Comics character Batman, the film is the final installment in Nolan’s Batman film trilogy, and it is the sequel to Batman Begins (2005) and The Dark Knight (2008). Christian Bale reprises the lead role of Bruce Wayne/Batman, with a returning cast of his allies: Michael Caine as Alfred Pennyworth, Gary Oldman as James Gordon, and Morgan Freeman as Lucius Fox. The film introduces Selina Kyle (Anne Hathaway), a sly, morally ambiguous cat burglar, and Bane (Tom Hardy), a mercenary bent on destroying Gotham City. Drawn back into action by new threats facing the city, an older Bruce Wayne is forced to come out of retirement and become Batman once again. Christopher Nolan was initially hesitant about returning to the series for a second time, but agreed to come back after developing a story with his brother and Goyer that he felt would conclude the series on a satisfactory note. Nolan drew inspiration from Bane’s comic book debut in the 1993 â€Å"Knightfall† storyline, the 1986 series The Dark Knight Returns, and the 1999 storyline â€Å"No Man’s Land†. Filming took place in various locations, including Jodhpur, London, Nottingham, Glasgow, Los Angeles, New York City, Newark, and Pittsburgh. Nolan utilized IMAX cameras for much of the filming to optimize the quality of the picture, including the first six minutes of the film. A variation of the Batplane termed â€Å"The Bat†, an underground prison set, and a new Batcave set were created specifically for the film. As with The Dark Knight, viral marketing campaigns began early during production to help promotion. When filming concluded, Warner Bros. refocused its campaign; developing promotional websites, releasing the first six minutes of the film and theatrical trailers, sending random pieces of information regarding the film’s plot to various companies. The Dark Knight Rises premiered in New York City on July 16, 2012. The film was released in Australia and New Zealand on July 19, 2012, and in North America and the United Kingdom on July 20, 2012. It received a generally positive critical response and grossed over $1.081 billion worldwide. The Dark Knight Rises is currently the 7th highest-grossing film of all time,  the second highest-grossing film of 2012, and the second highest-grossing superhero film of all time.

Select a community concern and address the problem and findings in a Essay

Select a community concern and address the problem and findings in a report - Essay Example The Centers for Disease Control and Prevention (CDC) has revealed that â€Å"cigarette smoking is the leading cause of preventable death in the United States, accounting for approximately 443,000 deaths, or 1 of every 5 deaths, in the United States each year† (CDC, 2012, par. 2). Likewise, statistics revealed that more than 68% of smokers have signified intentions to stop (CDC, 2011) and that â€Å"the combination of medication and counseling is more effective for smoking cessation than either medication or counseling alone† (CDC, 2011, p. 1). Government agencies have acknowledged that a coalition between the state and local communities would assist in helping smokers control and ultimately lessen or stop smoking. Accordingly, â€Å"communities need to work toward transforming the knowledge, attitudes, and practices of users and nonusers by changing the way tobacco is promoted, sold, and used† (CDC, 2011, p. 1). The solution to stop smoking is a collaborative effort that starts with the smoker, the family members, and the local community where he or she is an active part

How does the U.S. Economy affect the global economy Essay

How does the U.S. Economy affect the global economy - Essay Example The United states directly buys goods from other countries. The countries that offer their low -priced goods to the American consumers include China, India, European nations, Southern American states. Many United States companies like McDonalds, Unilever, Kentucky Fried Chicken and 7 eleven 24 hours have set up their branches in many major cities around the world.In 2006, "The mighty United States stock market is defying gravity. The unbelievable element is that the Dow Jones Industrial Average--the Americans' main share-price index--is roaring, against a slew of evidence that beyond Wall Street, America's broader economy is in very serious trouble. The Dow has in past days hit a new high, touching 11,720, a level not seen since January 2000, when shares surged off the back of post-millennium hubris and the dotcom boom"(Halligan, 2006, p. 14). This caused many stockbrokers in the United States and other stock exchanges around the world that the United States economy looked ghastly. T his is of course apologies to Al Gore in his inconvenient truth theory. The United States economy had grown by only a lowly 2.6 percent for the second quarter of 2006. This is lower than the 5.6 percent figure from the first quarter of 2006. Evidently, the United States economy is the world's largest economy. For, the United States is the biggest buyer and importer country in the world. Thus, any economic situation in the United States will definitely affect the economies of other countries in the world. The slump in the United States economy has been brought about by the slow down in consumer spending. Another major reason is that the United States housing market had finally cracked open. The house prices were two percent lower than the prior year, 2005. This resulted to the first fall in the value of United States properties starting in 1996. The Americans had borrowed large sums of money to pay for their new homes. This spending spree in the United States had brought the country' s growth and creation of millions of housing related jobs. In response, there was an increase in imported goods from Asia and Europe. Thus, the other countries were able to benefit from the increase in the United States economy. However, the robust housing economy ended sadly. There was a glut in house sales. The stocks of unsold houses was sixty percent higher than the unsold houses of the prior year, 2005. Thus, the people cut down on their spending habits because their income was tied to paying the high debts brought about by the buying of houses. A halt in the buying spree resulted to a low store sales. A slow store sales caused the retrenchment of some of its employees. One reason for the economic downturn in the United States is that the rising cost of oil has been aggravated by the rising inflation problem here (Halligan, 2006, p. 14). In 2006, the world inflationary pressure were increasing, One of the factors creating this world economic debacle is the rising oil prices. However, the impact of rising oil prices on inflation and output is currently muted as compared to prior inflationary periods in the United States and the world. This global imbalance where the global growth rate had hastened to 5.1 percent in 2006 and slowing back in 2007 to the tune of 4.7 percent has caused global imbalances that stayed pegged with the U.S. dollar foreign currency exchange rate falling at another thirty percent has cut into half the U.S current account deficits. However, the U.S. economy had only grown by three percent a year in 2006 an last year, 2007. The current economic slowdown in the United States is caused by increasing inflationary pressures. On the other side of the world, the Japanese economy has been self sustaining and its gross domestic product had risen

Deception Detection in the Courtroom Essay Example | Topics and Well Written Essays - 1000 words

Deception Detection in the Courtroom - Essay Example For instance, the use of the polygraph can give misleading information about a person. The simple principle applied by polygraphs is that it is stressful to lie, and stress brings up certain changes to normal functions of the body. The deviations from the norm can be measured, and the levels of stress determined to give conclusions. Another technology that is applied is fMRI. This is a type of technology that gives the direct behavior of the brain. Studies have been conducted to ascertain the effectiveness of this technology through experiments. There are differences in the brain’s activities when a person is engaging in lies and when the person is telling the truth. This simple principle is applied in the use of fMRI. There are debates that revolve around the application of this technology in getting justice in court rooms, but they have not been agreed upon. In this technology, there are procedures applied to detect deception. First there is the Control Question Test (CQT), this uses simple yes/no answers to get the culprits’ data captured and the second is Guilt Knowledge Test (GKT). The test is used to unveil any hidden information from the person being tested. Another technique that can be used is brain fingerprinting, this technology applies the use of electroencephalography. This technique is used to detect any hidden information in the brain through measurement of electric brain waves. This technique is also being tested for the determination of whether individuals are engaging in lies or not.

School paragraph Essay Example | Topics and Well Written Essays - 250 words

School paragraph - Essay Example During the same first year I associated with a group of rotten kids who never cared about anything leave alone even what brought them in high school, and as a result my social life suffered too. In my second year I continued to struggle with motivational issues in my core classes of biology and mathematics, but like in my first year I ended up in classes that I enjoyed such as chemistry. But that year never went to waste like my first year as I successfully managed to expand my social life by ditching out the group of bad kids and started hanging out with a group of more responsible students. As we approached third year, I was able to turn my high school education around due to the moral boost I got from my new group of friends. During the fourth year, I enjoyed staying in the hall for long time doing projects, and also interacting with some of my friends. This helped me both academically and socially too as I was able to get my up to date girlfriend whom though we had stayed together for only six months before I completed my studies she had completely changed my life for good. Through her I came to know that people really respect and enjoy the person that you really are inside, and if they don’t, they are not really your friend. All these experience from first year to fourth year changed me in a large way. Coming to high school I was shy, unmotivated young man who didn’t know what he wanted with life but through all those experiences that I went through, I left high school as a man who was mature, outgoing, and very sure of myself. Those experiences taught me to believe in myself and always to have hope and confidence in every activity I engage in to in

Police misconduct Term Paper Example | Topics and Well Written Essays - 750 words

Police misconduct - Term Paper Example Biases and prejudices motivate police officers to take inappropriate actions on certain occasions. These inappropriate actions are usually labelled under police misconduct. This paper analyses different types of police misconduct. â€Å"Los Angeles Police Chief Charlie Beck is under fire from his civilian bosses, who increasingly are troubled by his reluctance to punish officers they found had killed or wounded people unjustifiably "(Rubin). The major objective of any criminal justice system is not to punish any innocent person even if thousands of criminals escaped from punishment. In other words, criminal justice system should make sure that enough evidences are there to punish a person. Police officers are responsible for the collection of evidences against the culprits. In certain cases, investigating officers may face lot of pressure from different corners to speed up the investigation process. In such cases, police complete the investigation process in a hurry to satisfy the p ublic demand. Imagine a situation in which a famous celebrity is killed. The killer could be an influential person in the society. Even if police gets enough evidences against the killer, it is not evidently that he may be arrested. The killer may offer bribes and the police may investigate the case as directed by the actual killer. The demand for the speedy arrest of the killer from the public may force the investigating officer to arrest somebody in connection with that murder. The actual killer or the police may present another person (a rented person) as the killer in front of the public. In such cases, police fabricate evidence against the rented person and arrest him to satisfy the public. This person may escape from punishment since it is difficult for the police to prove the crime against him in the courts. In short, the nexus between the police and criminals often result in police misconducts. â€Å"A 37-man force that patrols a gritty square-mile city south of downtown Lo s Angeles -- has become a haven for misfit cops who have been pushed out of other law enforcement agencies for crimes or serious misconduct† (Lait and Glover) BBC (3 April 2013) reported that â€Å"Kent Police officer Eileen Arthurs jailed for misconduct. Kent Police said she carried out unauthorised checks using the force's computers. The force said Arthurs had accessed the records of her friend, who was known to police, on several occasions with no professional reason to do so† (Kent Police officer Eileen Arthurs jailed for misconduct). On many occasions, police use its power to intrude into the personal details of the people. It is a fact that police officers can gather any information about a person if they have enough reasons to do so. However, it is illegal to intrude into the personal records of a person without a legitimate reason. â€Å"Responding to police misconduct is an essential step towards protecting yourself and your community from future police abuseà ¢â‚¬  (How do I report police misconduct?). Staying away from reporting police misconduct will encourage the police officers to repeat the crime again. When people show more readiness to report police misconduct, police officers may think twice before doing an illegal activity. â€Å"

Case studies 1 & 2 Essay Example | Topics and Well Written Essays - 1500 words - 1

Case studies 1 & 2 - Essay Example If the decision to promote one of the board members as the direct for the Energy cooperative is beneficial for the masses by providing them with a leading figure or a figurehead for the corporation. Then the company can proceed with the proposal. Ethical relativism in rights theory indicates that there are no universal rights or wrings, however what is accepted as the norm for right and wrong is established to be ethical. As a result as the clients and the external partners of the energy cooperative have the right to now the management at the committee, it is also their right to know that there is no single director at the company. Instead a group of directors precede over the committee for operations and decision-making. The theory of justice depicts that ethical decision are those which are fair to all parties and have integrity. In order to be fair to the clients as well being fair to the other directors on the board of the Energy Cooperative Company the proposal of the director to address to the clients while addressing himself as ‘the director of the company’ should be rejected as it is unfair and lacks integrity. Instead it should be depicted that he is one of the directors on board the Energy Cooperative’ Â   The three levels pertain to pre-conventional, conventional and post-conventional levels. At the pre-conventional level in the first stage pertaining to obedience and punishment orientation, the company could decide against the proposal as there is a threat of a lawsuit from the external partners, clients and the other board directors for misrepresentation. At the second stage which is interest driven, the company could decide in favor if the proposal as it would provide them with a spokesperson form the company that can be perceived as the figurehead and leader in the cooperative for others. At the conventional level in the third stage pertaining to interpersonal accord and conformity the cooperative can deicide in favor

Principles of Metal Manufacturing Processes Lab Report

Principles of Metal Manufacturing Processes - Lab Report Example The present research has identified that when more loads are applied the specimen breaks at the centre. The data of load versus extension of the specimen is collected and used in calculation of stress and strain. The values are plotted on an X-Y graph and yield a typical graph. From the graph several material properties could be calculated and observe. The following experiment investigates the Young’s Modulus of a piece of wire subjected to tension. To get the Young’s Modulus, stress and strain of the wire must be calculated from the recorded results. The linear section of the graph is referred to as the yield strength where the material shows elastic behavior and it is used in the calculation of E. On the other hand, the other part of the graph is referred to as the non linear section. The yield point is the transition between the linear and the non-linear sections, and the magnitude of stress at this section is termed as the yield strength (ÏÆ'Y). The slope of the li near section of the curve gives the material’s Young’s modulus, given in GPa. The formula for calculating Young's modulus is shown below. Â  The slope of the linear section of the curve gives the material’s Young’s modulus, given in GPa. The formula for calculating Young's modulus is shown below. The objective of this experiment is to determine the Young’s Modulus when a piece of wire is subjected to varying forces. Apparatus The following apparatus were used during the experiment: 1 x G-clamp, approximately 10 cm jaw 1 x 2 wooden blocks 1 x single pulley placed on a bench clamp 1 x meter rule 1 x Adhesive tape 2 x cardboard bridges 1 x mass hanger with 8 slotted masses, 100g each 2 x lengths of copper wire 1 x safety spectacles Wire rolls and threads Procedure The experiment set up was as shown in figure 3 below. Figure 3: Experimental setup 1. After the set up was made, a copper wire was stretched and fixed horizontally along the bench as shown in figure 3 above 2. A maker was made from the adhesive tape and it was attached to the wire to make it less 2 m from the clamp and approximately 5 cm from the pulley. The marker was set to line up with the meter rule so that it could be used to measure the extension of the wire. A loop was made in the end of the wire for loading 3. The original length of the wire was measured and recorded. This was the length from the clamp to the marker. A small mass of 100g was then placed to stretch the wire and the length recorded. 4. The masses were increased gradually in steps of 200g while the force and the corresponding extension was recorded in each case.

The Major League Baseball Players Association Essay Example for Free

The Major League Baseball Players Association Essay The Major League Baseball Players Association (MLBPA) is the union of professional baseball players in the major league. The Association plays the role of collective bargaining for all major league players and it is also the representative for players that need salary arbitration. Like any other union, MLBPA defends the rights of its members and functions in order to protect the players’ best interest. One of the attributions of the MLBPA is that of making sure that the conditions for playing are in accordance with the Association’s safety guidelines. A union of professional baseball players was necessary for promoting the interests of the players and so unions acting in the benefit of professional players were created almost from the very beginning of the history of baseball as a sport. MLBPA does not represent the first union of baseball players, as previous attempts included the Brotherhood of Professional Baseball Players (founded in 1885), Players Protective Association (1900), Fraternity of Professional Baseball Players of America (1912), or American Baseball Guild (1946) (Major League Baseball Players Association, 2007). The basis of MLBPA was set by the formation of the American Baseball Guild which was created by labor lawyer Robert Murphy (Haupert, 2003). The major change that was the outcome of the Guild was that the standard labor contract of players was changed in the benefit of the players since before this change the contracts were very much dictated by owners (Haupert, 2003). Although the Guild was unsuccessful in forming a union, it did bring a great deal of change in the way players’ contracts and rights were being handled. MLBPA is currently the baseball players’ organization and the outcome of this association is the result of the changes that took place in the unionization of baseball players. The union was formed in 1954, but it â€Å"remained in the background until the players hired Marvin Miller in 1966 to head the organization† (Haupert, 2003). This was the decisive step in the future of the union of baseball players. Miller was a former negotiator for the US steel workers and this experience was used with success in the interest of baseball players (Haupert, 2003). The leadership of Marvin Miller and his influence was very usefull for the interest of MLBPA. His skills turned out to exceed those of the owners as he managed to change the rules of the game and represent the players in gaining what was theirs. He managed to control the power that owners had on the players and trough his tough practices to make the opinion of players matter in matters of trade and such (Rockford). Miller’s leadership had a great impact on the unionization of baseball players as his lead brought the most important changes in the life of professional baseball players. Marvin Miller retired in 1984 after managing to put an end to the reserve clause, to ensure the right of free movement from team to team, to gain a great raise in the salary of baseball players (Rockford). Other important changes that were conducted and influenced by Miller’s organizational skills referred to a greater implication of the union in labor disputes, to the creation of a pension fund sponsored mainly from percentages of television revenue. But the most important accomplishment of Miller’s leadership was that the union was recognized and also the right of players to be represented in negotiations by a collective organization was also recognized (Rockford). Marvin Miller is responsible for making baseball a business profitable both for owners and players. The current leader of MLBPA, Don Fehr, was hired by Miller in 1977 as general counsel and after the retirement of Miller he was chosen by the players to represent them as executive director of MLBPA (Haupert, 2003). Fehr’s influence was noticeable for following the policies of his predecessor, continuing the road chosen by Miller. Fehr’s accomplishments are shown in his role of negotiator in collective bargaining with major league owners and in â€Å"administering contracts, grievance arbitration, and pension and health care matters† (Schwarz, 2003). His mission leading the union was even harder that expected because he was replacing a legend, the man that built the union and that had lead it successfully for such a long time. Even so, Fehr was successful in leading the union and in defending the interest of the players. â€Å"The average salary of a major leaguer has gone from $ 185,000 in 1981 to $2. 47 million in 2005. † (Cooper, 2006) MLBPA managed to use the changes made by former unions or associations of professional baseball players and managed to become today the strongest sports union around. Under the leadership of only two, but strong leaders, MLBPA has progressed greatly and this progress is first of all attributed to the leaders that had always had a coherent policy and strong faith in their mission. Perhaps the key to the success of MLBPA is that its leaders have always tried to maintain a unity among the players and by keeping them together and focused on a common goal, they could accomplish the major growth in the baseball industry. Bibliography: Cooper, J. J. , 25 for 25: Don Fehr, July 18, 2006, available at http://www. baseballamerica. com/today/majors/25thanniversary/print261957. html; Haupert, Michael. The Economic History of Major League Baseball. EH. Net Encyclopedia, edited by Robert Whaples. August 27, 2003. available at http://eh. net/encyclopedia/article/haupert. mlb; History of the Major League Baseball Players Association, available at http://mlbplayers. mlb. com/pa/info/history. jsp; Major League Baseball Players Association, 2007, available at http://en. wikipedia. org/wiki/Major_League_Baseball_Players_Association; Rockford, Warner Oliver, Marvin Miller, available at http://www. baseballlibrary. com/baseballlibrary/ballplayers/M/Miller_Marvin. stm; Schwarz, Alan, One on One: Don Fehr, July 1, 2002, available at http://www. baseballamerica. com/today/features/fehr070102. html;

Plot and character outlines Essay Example for Free

Plot and character outlines Essay He also wants different colored rabbits that he can feed with the alfalfa that he will collect. Lennies dream doesnt come true as his child like nature means that he tries to stroke Curlys wifes hair and not wanting her to scream he breaks her neck. He then flees to the brush where George told him to hide if anything went wrong. George wanting to protect Lennie from the pain of being hung decides instead to shoot him in the back of the head similar to the way Candys dog was so mercilessly killed. Another character who has a dream is Candy. Candy is a decrepit old man who is described as a swamper who lost his hand at the end of his useful life on the ranch. He wishes to join George and lennie to escape the ranch. His dream is to join George and lennie and seeks security in his old age. He is desperate and determined to make it happen as he is afraid he will end up like his dog as he will be sacked as soon as he becomes too old to do any work. Candy is considered useless as he only has one hand I got hurt four years ago theyll can me pretty soon. Candys only friend on the ranch was his dog who was shot and so he seeks company and doesnt want to be lonely any more, wants company in his old age I wont have no place to go, an I cant get no more jobs Candys dream doesnt come true as he has to abandon his plans as lennie is killed and George has to leave town as many of the men at the ranch believe that he might have been conspiring with lennie. At this Candy,s American dream is crushed. The next character who dreams is Crooks. He is a black stable hand, lives by himself in the harness room, a shed attached to the barn. Injured when a horse kicked him, Crooks has a body that is bent to the left because of his crooked spine. The stable hand has many horse care items in his room, as well as personal belongings he keeps because he is a more permanent tenant. He is a proud man but he feels segregated from the other guys and so spends most of his time in his room reading. He used to own his own hand but he lost it He dreams of one day being accepted and being able to sit in the bunk house and play cards he wants to be able to fit in and find his own place in society, have somebody that he can talk to A guy needs somebody to be near him. A guy goes nuts if he aint got nobody. He wanted to join George and Lennie but he pulls out after George finds out that Lennie and candy have been talking to crooks about the land and Crooks wanting to avoid disappointment decides that it is best he pulls out as George is not happy. Curlys wife also has a dream. Curlys wife is a seductive, pretty woman who not happy with her marriage to curly seeks excitement and a new life A show came through, an I met one of the actors. He says I could go with that show. But my ol lady wouldnt let me If Id went, I wouldnt be livin like this, you bet. she doesnt like Curlys and says he is a mean guy she is also happy when Lennie breaks Curlys hand as she says its good you busted curly up. Her dream is to become a big movie star as she makes reference to Nother time I met a guy, an he was in pitchers he says he was gonna put me in the movies. Says I was a natural. Soons he get back to Hollywood he was gonna write to me about it I never got that letter I always thought my ol lady stole it. Her dream was to go on stage and entertain as she also tried to run away with the circus A show came through, an I met one of the actors. He says I could go with that show. But my ol lady wouldnt let me If Id went, I wouldnt be livin like this, you bet. this makes reference to the fact that she is lonely as the only woman on the ranch and resents her life. Curlys wife trys to leave the ranch when she comes across lennie and they get talking, she lets Lennie touch her hair but he gets carried away and ends up killing her. Her dreams of fame and belonging are dashed as she dies before she gets the chance to leave the ranch. The last character who has a dream is Curly. He is the boss son, a young, pugnacious character, once a semi-professional boxer. He is described by others, with some irony, as handy. He is very jealous and protective of his wife and immediately develops a dislike toward Lennie. He is married but his marriage is a shame as his wife feels lonely and spends half her time supposedly looking for curly. His wife could be described as a promiscuous as she seems to take a interest in the other men on the ranch. Curly is a small guy and doesnt like big guys, like all small guys, he dont like big guys His dream was to become a professional boxer but he had to stay on the ranch, he feels insecure and possessive of his wife, as she has a promiscuous personality. Seems like Curly is cockier than ever since he got married. His dreams were dashed as he had to stay on the ranch and was not allowed to follow his dream, this may be why he is so bitter and angry . He also cannot even keep his wife as she seems to wander off a lot. His dreams are further crushed as his hand is badly damaged in a fight with Lennie. As his hand is broken he will never be able to fight again, as well as the shame of being beaten by someone who is considered to be mentally handicapped really damaged his reputation. To sum up, most the characters in the book have a dream of some sort. All of the characters dreams in the book of mice and men do not come true . Lennie and Georges dream is slashed by Lennie killing Curlys wife and her dreams are slashed as she is killed but Curlys wife dose finally decide to leave Curly which was part of her dream. Candys dream dies with Lennie as George is not interested in the farm anymore. Crooks had his dream when he used to own his own bit of land but it was taken away from him and so his dream was crushed. They chased their dreams but none of them came true which has reference to the American dream which many people chased but most never achieve. By marc di-trolio Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE John Steinbeck section.

Hr theories

Hr theories Objectives of Experience:(20 marks) (Write four objectives for the experience that meet SMART Criteria) I want to get a graduate job offer by the 1st of September from the financial department at the Audi Headquarters and I will achieve this by fulfilling the managers every requests. By the end of my placement I want gain knowledge of how to present and create financial balance sheets and I will accomplish this by fallowing my manager and assist him. I want to learn how to be confident while I am leading people and how to show an excellent example under massive pressure. I will achieve this by taking a close look at the managers movements, gestures and decisions that he makes every working day. I want to accomplish this by the 1st of September I want to build a reliable long term professional relationship with every one of my co-workers, manager and department head by the end of my work placement and I will achieve this by get to know them during my first week and keep in touch with them during my placement. Outline of relevant HR related literature(50 marks) (In this section you should provide a 500 word (fully referenced) description of the HR theories that you are going to use within your completed portfolio. In compiling this section, you should use a range of specific journal articles and textbooks to substantiate the points you are making. The references for this section should be placed in the later reference section. Please use proper citation techniques in this section) run My focus has addressed questions on how organizations add value to customers and investors through both leadership and strategic human resource practices. In the human resource area, I will explore how Dave Ulrichs redefined and upgraded Human Resource theory effects the decisions of large organizations like Audi. With his colleagues Jon Younger and Wayne Brockbank, Ulrich has articulated how the modern HR organization can be organized into shared services, centres of expertise, and business partners. I will also look at how HR practices are aligned to customer needs and integrated organization around capabilities. And by focusing on the outcomes of effective leadership it will increase customer share, shareholder value and also synthesizer the thicket of leadership competency models into a unified view of leadership. I would also like to get familiar how leaders concentrate on the individual and try to help the individual become a better leader. Like Ulrich sad that â€Å"leadershi p as a pattern is becoming more important than leadership as a person. From the inside and from the outside: often good leadership focuses on the inside of an individual (what can I do and what do I do) and the inside of the company (what do we need.)† They have also suggested that leadership should come from the customers wish. Based on these two themes, they have recommended the creation of a brand of leadership that starts with identifying the customers vision of the company brand and related expectations. They aim to match the brand of leadership with the company brand by listening to the external vision customers have about what leaders should know in order to deliver value to the customer. On the basis of the leadership brand standards, Businesses can deliver leadership that result in creating value. Also how HR has an important role in working out a development process for future leaders. I would take an even closer look at the four major points that Ulrich has develope d during his researches and widely used since then. First of all Change management is a structured approach to transitioning individuals, teams, and organizations from a current state to a desired future state The field of change management grew from the recognition that organizations like Audi are comprised of people. And the behaviours of people make up the outputs of the organization. Then how will the Administration part of the Human Resource team issue the conditional written offer letter, the Statement of Terms and Conditions of Employment and other information applicable to every single position. And how they will carry out other pre-employment checks as required. How appropriate, arrangements will be made by the Human Resources team for a pre-employment. I want take an even further look into the performance appraisal and how large businesses like Audi deals with behavioural observation scale and behaviourally anchored rating scales, and why Trait-based system, which rely on factors such as integrity and conscientiousness, should not be used by businesses. Relationship to Career Development Plans(20 marks) (In this section, you should provide a 200 word description of how the experience will fit with your long term career plans. What transferable skills will be acquired? What aspects of the experience will be most valuable?) My final goal is to become a CFO at one of the major Companies or Banks in the world. However in case to do so I believe that I must complete a Master Degree in Economics than I need another two years of quality experience in the Financial area fallowing that I will take my PhD and by the time I am 24 years old I will have all the necessary skills that a CFO position is require. This placement will be the first big step to my goal and it will give me the chance to face with the real challenges that the financial world really is all about. Also by presenting a very high quality work I could get sponsorship for the rest of my educational carrier and I would have the necessary connections to progress as fast as I can. At Audi I will have the opportunity to work with those professionals who are changing the world by taking care of one of the biggest company in the world. I will hopefully learn all those skills that made them become who they are right now so I will be able to think the sa me way they do and achieve similar goals. References(10 marks) (This section is related to the â€Å"outline of relevant HR related literature† section above. Students should provide a minimum of 5 references to support the arguments being made in the earlier section. These 5 references should come from textbooks or journal articles. Magazine articles and websites are not included in the minimum 10 references. Please ensure the references are correctly formatted as per QMU Write and Cite guide (weblink: http://www.qmu.ac.uk/Lb/information/Guides/harvard_ref_guide.pdf). (Note: In relation to journal articles, these are most easily identifiable as in over 90% of cases they have the word â€Å"journal† in the title. Journal articles found on the Emerald, EBSCO and Ingenta databases or on the shelves of the library and should be referenced as journal articles, not web references.)

Integrating Democracy with Tibetan Buddhism :: Politics Political

Integrating Democracy with Tibetan Buddhism The combination of a religion and a political philosophy do not automatically allow for the most congruous applications. Tibetan Buddhism has been the main stay of a country that has been ruled by a monarchy, through a religious figurehead, and by a socialist republic, all of which seem to have their political frustrations in preserving the Tibetan society. The political spectrum now questions how well the Buddhist tradition integrates the values of democratic theory. The previous applications of Buddhism in a role of government are necessary to analyze in order to properly investigate the application of the Buddhist tradition into a political framework. The structure of the Tibetan government before the invasion of the Chinese in 1950 was a mixture of the monastic influence and the nobles. The authority of the Dalai Lama reigned over the monasteries and religious order as well as over the administrative obligations of the Country. The search for the reincarnation of the Dalai Lama ensures not only leadership of the country from the Buddha of Compassion but also implies that the reign of government is not hereditary, but based on wisdom and guidance for the people and much less on political situations, although these would still much be a factor in ruling. The hierarchical establishment of this division remained partially mixed so that the monks in office balanced the nobles and the monks were checked by the nobles, however the mona stic influence remained the dominant of the two. The legacy of the aristocracy was more an element of the older reign of Tibet from a monarchy and class distinction and the religious influence was more dominant with the newer establishment and really established until the fourteenth century with the teacher Tsong Khapa. This checks and balances involved in the government may only be the confluence of an older tradition mixing in with the new in order to maintain a smooth transition, but it may also exhibit the balance necessary to a government lead by Buddhist thought. Buddhism is not merely a doctrine that is automatically to be accepted and instilled as the truth, rather it has to be taught and allow the people to come to it.

Henry James Daisy Miller and Edith Whartons The Age of Innocence Essa

Both Daisy Miller by Henry James and The Age of Innocence, based on the novel by Edith Wharton are either social commentaries or love stories set in corrupt society. The male leads, Newland Archer and Winterbourne, help to show, assuming the goal is commentary, the dishonest and frivolous nature of society. Newland and Winterbourne’s stories and characters run on corresponding motives, as they are the offspring of that society. Each character has an affair. Winterbourne’s is subtle, presented more as his single interest, but it is told that his presence in Geneva (at both the beginning and end of the novel) is for the purpose of â€Å"’studying,’† but â€Å"when certain persons spoke of him they affirmed that the reason of his spending so much time at Geneva was that he was extremely devoted to a lady who lived there—a foreign lady—a person older than himself (Part I.)† As Winterbourne is â€Å"extremely devoted,† then his time with Daisy must be considered an affair, whether or not it amounted to anything more than flirtation. Newland’s affair is more obvious, as both May, his wife, and Ellen, his secret love, play major roles in the story. However, it is difficult to assign blame to either man for his affair, for each is a paragon gentleman who cares deeply about the honor of the women in his life. Winterbourne is bound by his gentleman’s manners to preserve the societal position of Daisy. In Part II, when Daisy is walking on the streets of Rome with two gentlemen, Winterbourne shows that he does care for Daisy’s honor: â€Å"’Does Mr. Winterbourne think,’ she asked slowly, smiling, throwing back her head, and glancing at him from head to foot, ‘that, to save my reputation, I ought to get into the carriage?’ W... ...e were safe with you, and always would be. Because once, when she asked you to, you gave up the thing you wanted most.’† However, though both men’s affairs are known, they are never openly criticized. Both Newland and Winterbourne are rich, proud men who have been involved in affairs. But yet, we perceive them both in a positive light. We see Winterbourne as a man carried along for an exciting journey through his affection for Daisy, and Archer as the finest gentlemen torn between two women. The attitude that is allowed by the authors suggests that men are permitted affairs, while women require the protection of the men that might betray them. High society, at the time, was polite, charming, and secret. No one spoke ill of another publicly, though each and every member of society was allowed, and seemingly encouraged, to make their own assumptions.

Facades versus Reality Essay -- Literary Analysis, George Owell

For many situations there exists both a perceived version of the situation and an actual version of the situation. Usually, these two versions vary in some sense. Some people will be able to understand honestly happened, but the majority is unable to see the truth of a situation. They instead view an inaccurate representation of the definite situation. George Orwell’s Such, Such Were the Joys, Juliet Schor’s The Overspent American, and Loren Eiseley’s The Firmament of Time, show how the truth of a situation is hidden by a faà §ade. In George Orwell’s Such, Such Were the Joys, the school Crossgates is perceived as a prestigious private school, when in fact its true operations run as a deceiving and disappointing institution. Orwell explained first how the institution’s standard of living was poorer quality than lower-class living. The narrator who came from a poor family retold that he â€Å"took a social step upwards by attending [Crossgates], and yet the standard of comfort was in every way far lower than in my own home, or indeed, than it would have been in a prosperous working-class home† (Orwell 434). Crossgates was perceived to have been a lavished place to reside, where the school kids would have top-notch residing quarters. Instead, the Crossgates boarding situation lacked all hospitability and had a lower standard of living than what would constitute as lower class. The ascetics of Crossgates were despicable, as well. The institute reeked of a pungent odor, as well as allowing the kids to live in a state of malnutrition. Orwell recalled that â€Å"it was not was not easy for me to think of my school-days without seeming to breathe in a whiff of something cold and evil-smelling† (Orwell 436), as well as â€Å"often repeated to us at Cr... ...e two. Often times, the faà §ades prove triumphant over the truth. However, if we want society to advance we must recognize that living a life of illusions will not get us there. We must break the faà §ades to uncover the truth. In the words of the American academic leader Edward Levi, â€Å"The concept of reason itself appears as an artificial attempt to separate intellectual powers from the frustrations, emotions, and accidents which cause events; the concept of reason is viewed as facade to prevent change.† Works Cited Eiseley, Loren C. The Firmament of Time. Lincoln: University of Nebraska, 1999. Print. Orwell, George, and Richard Halworth Rovere. The Orwell Reader: Fiction, Essays, and Reportage. San Diego: Harcourt, Brace, 1984. Print. Schor, Juliet B. The Overspent American: Why We Want What We Don't Need. New York: HarperPerennial, 1999. Print.

Entering the soft drinks industry in india Essay

India is an enormous and diverse country with a population of over 1 billion people, making it difficult to make any generalisations about what Indians like and want from a soft drink (Background to Business in India, 2011). The soft drink industry in India has been growing rapidly since 2006 and in 2010 generated a profit of $3. 8 billion and although the market is set to decelerate, by 2015 he market value will be $5. 9 billion (Soft Drinks Industry Profile: India, 2011). From this, India is an attractive marketplace with many opportunities for a soft drinks manufacturer to want to expand in to. Porter’s National Diamond: Factor Conditions India has a very young population with over half being under the age of 25 (BSCAA , 2009) This is an advantage to the MNC wanting to expand their business in to India as research by Euromonitor (2011) suggests that young people aged 16-25 are more likely to purchase bottled soft drinks. Conversely, the diversity of the population in India must be stressed as it is such a large country, with a huge divide between rich and poor. Also with regards to human resources, the MNC could benefit from the profusion of low-cost labour in India (Maan, M et al, 2011), meaning the MNC could move its manufacturing to India to reduce its operating costs whilst targeting the young population with their soft drink product. When assessing the physical resources in India, the MNC needs to consider the poor infrastructure in the country and how rural some of the areas are. It would not be advised to enter the market in east/northeast India unless selling cheap bottled water because the area is very rural and poor and there is only really a market for selling healthy, clean and sanitised water (Soft Drinks in India, 2011). However, south India would be a much more promising area to invest in to and the MNC would have better business opportunities here. Southern India benefits from a much more affluent population of young, employed people, who in recent years have become much more health-conscious, which has led to an increase of 24% in market sales (Soft Drinks in India, 2011). If the MNC were to invest in India, concentrating on one area to ensure they reach the correct target audience, Southern India would be ideal to bring out a range of waters and juices to attract the young, health-conscious population there. Carbonated drinks should not be considered at research by Euromonitor (2011) stress the saturation of the market by megabrands such as Coca Cola and the need for â€Å"healthier† bottled, soft drinks. These also relate to the social and environmental sectors of the PESTLE model. Porter’s National Diamond: Demand Conditions In India, there is an increasing demand for healthy and hygienic soft drinks but sports drinks will remain to be the most rapidly growing sector due to the popularity of sports with young Indians (Soft Drinks in India, 2011). The research from Euromonitor (2011) states that Indians have moved away from carbonated drinks due to the rising health awareness, and have started to purchase more water and fruit and vegetable juices. For the MNC to compete against the increasing international competition, they would need to think â€Å"glocally†. Glocalisation entails local and global activities acting simultaneously, where they would â€Å"think globally and act locally† (Glocalisation, no date). By adapting to the local environment, the MNC could gain a competitive advantage as an international brand as they would appear to take in to account the local surroundings of their brand and they are more likely to be successful as they would be selling a product that the local Indians would want. The MNC should internationalise to respond to the megatrend of competitors, which is a deterministic force, and then compete through adaptation of their product to suit the local surroundings in India. The strategy the MNC should consider after analysing the demand conditions is to consider both price and value together. They should differentiate themselves from other soft drink suppliers by offering a strong brand that young Indians are conscious of (Soft Drinks in India, 2011) but also an acceptable price. Although there is a huge poor population in India, if the MNC were to target Southern India as suggested after looking at the factor conditions, research by the Bureau of South and Central Asian Affairs (2011) depict a large and growing middle-class population of India that have a disposable income of between $4,166-$20,833 per year; this suggests that they could price their product in correspondence with the other brands as there is a growing population of richer Indians. Also by offering benefits of a brand and a health-conscious drink that is in high demand at the moment, they can concentrate on focussing on that one area of India where they could possibly dominate the market in a smaller area. Porter’s National Diamond: Firm Strategy, Structure and Rivalry With regards to structure of firms, the MNC will have to consider how different India is in terms of how they do business compared to Europe. In India, the majority of organisations have a strong hierarchical structure, with one authoritarian leader at the top (World Business Culture, 2011). When investing in to the Indian market it is recommended to approach business in the same hierarchical structure that India have as it is indisputably acknowledged. If they were to enter the market dealing with business in a more democratic, flat manner, how Europe would normally deal with business, they are unlikely to thrive. In terms of rivalry, there appears to be a lot of competition from other brands of soft drinks. Bisleri holds the largest amount of market share with 23. 6% in 2010; however this is the main seller of clean, hygienic water in India (Soft Drinks in India, 2011). After this, Coca Cola and Pepsi with all their sub-brands hold high shares in the market in India. If the MNC were to invest in to the Indian market, the strategy they would have to take would be to introduce a new soft drink that promotes sustainable benefits of being a healthy, branded, bottled soft drink that is different from the standard carbonates that the international, well-known brands offer. By differentiating their product and adapting it to the local environment in India, the MNC will gain competitive advantage. Porter’s National Diamond: Related and Supporting Industries Soft drinks are sweetened with sugar (Beverage Health, 2010) and India is the second largest producer of this commodity in the world (Sugar: Supply and Demand, 2010). This would be a benefit to the MNC as a main ingredient to soft drinks is readily available and will be cheaper rather than importing it from other countries. Plastic is also heavily involved when packaging soft drinks, through a third party factory. Luckily for the MNC, India has had a high development of their machinery which can create high-quality plastic products, including bottles (Indian Plastic Portal: 2009). By having plastic bottlers locally available, the MNC will have an advantage on being able to easily be supplied the service; however the price at which they purchase the plastic bottles for their soft drink product could be expensive due to the competition of other, more established brands such as Coca Cola. Porter’s National Diamond: Role of Chance The role of chance could invalidate the advantages of investing in the market in India at any time. Chance events that could affect the MNC introducing a new soft drink in India could include: well-established brands like Coca Cola or Pepsi creating a new product which young Indian’s are more likely to be swayed towards due to brand loyalty; another chance event could be new health awareness campaigns that may affect a young individual’s view on bottled soft drinks. There are constantly rising issues concerning health and the amount of sugar young people consume which could seriously harm the reputation and also the sales that the MNC could potentially make when entering the Indian Market. Also factors such as soaring prices in sugar or limited water supply could dramatically affect the manufacture and production of soft drinks. Porter’s National Diamond: Role of Government Currently, India is considered at a low-cost option for organisations to invest in to with its strong domestic market, high savings rates and positive demographic trend (World Business Culture: 2011), however, this could quickly change as India’s government could, at any time, implement new tax laws, quality standard laws or changes in antitrust laws which could alter the ease of entering in to the Indian marketplace for soft drinks. The MNC must take in to account and assess all the different policies and laws for foreign markets to invest to ensure they can operate their business properly. Issues that may arise in this determinant will also occur in the PESTLE model if the MNC were to undertake this from of country analysis. Porter’s Five Forces Buyer Power: Research by Datamonitor (2010) suggests that buyer power is temperate within the current soft drink suppliers in India as they sell not only to independent retailers but they sell their concentrates to bottling companies. However, the buyer power for a new brand of soft drink in India could affect the MNC profusely; this is due to the fact that the consumers will already have brand loyalty to the well-known and well established soft drink brands in India. The buyers would have to have an incentive to purchase the new product over something they are already used to and like; therefore having a relatively strong power over the new entrant. Supplier Power: Due to the fact that most ingredients of soft drink products are commodities means that supplier power is reasonably low and these commodities are readily available, for example: sugar (Datamonitor: 2010). Water, which is also a main component needed for the manufacture of a soft drink product, could be a problem in India as the sanitation of the water can be a problem and the supply is not always constant (India: Development Policy Review, 2007). Finally, supplier power from plastic packaging companies is growing due to the rise in awareness of environmentally friendly packaging (Datamonitor, 2010). New Entrants: If the MNC were to invest in to India, to ensure they were successful, they will need to ensure that they concentrate on differentiating and adapting their product to the area and from other brands (Datamonitor, 2010). Research by Euromonitor (2011) also suggest that by having a strong brand name and by using national figures to advertise the brand, a new entrant to the soft drinks market in India will thrive. From this, it suggests that there is a market for new entrants as long as the product is differentiated and well distinguished from the other products that already exist. Datamonitor also recommend that a new entrant should stress the health benefits of their product to attract more consumers. Substitutes: There is a reasonable threat from substitute products in the soft drink market in India. Research by Datamonitor (2010) depicts the larger brands like Parle Bisleri to be a higher threat as they offer other kinds of confectionary products as well as a wide range of soft drinks and the substitutes are able to stored differently (on shelves at room temperature). Datamonitor recommends that leading brands, as they have a diverse range of products, can reduce the risk of the substitutes on their performance. Rivalry: Research by Datamonitor (2010) gives evidence that the marketplace for soft drinks in India is concentrated with the top three players (Parle Bisleri, Coca Cola and Pepsi) holding 74. 1% of the market volume. These brands not only offer standard carbonated soft drinks and bottled water but speciality bottled teas and coffees. Therefore, if the MNC were to enter in to the Indian soft drink market, to remain a competitive brand, they would need to offer an adapted product to attract new consumers and draw them away from the well-established brands they know well. The Diffusion Curve. (Pearce, 2011) India as a whole would be placed in sector â€Å"late majority† due to the whole population of India being respectively poor with a GDP of only $1190 (World Business Culture, 2010). This means that they would purchase the product but maybe not straight away, when it is released, they will start to consume when the soft drink has become much cheaper. However, in a much more affluent area like South India where there is a population of young professionals with brand consciousness (Euromonitor, 2011) the population would be within the â€Å"early majority† sector. This is due to the fact that younger, wealthier people are more likely to want to try out new products when they see others consuming them and also feel the need to try out new products if the benefits and brands are well advertised to them (Euromonitor, 2011). Recommendations After assessing the market for soft drinks in India, it would be recommended for the MNC to invest in to this attractive marketplace. It is important for the MNC to internationalise its operations to diversify themselves, to respond to foreign competition and to take advantage from lower costs and increased technological expertise. However, there are many factors to consider when entering the market in India: firstly, the MNC must take in to account how diverse the nation is. As mentioned before, the population is huge and it would be ignorant to make any generalisations; therefore it would be a sensible idea for the MNC to only enter the market in one area of the country, for example southern India. It has been discussed that southern India is a much more affluent area of India, in which are many young, employed Indians who should be the target audience for the MNC as they are accessible and sustainable. Secondly, the competitors in this area must be considered. In order to be successful in investing in to India, it would be sensible for the MNC to create a product that is not standardised but adapted to the needs and likes of the population in this area. The MNC should conduct some research in to what kinds of flavours and tastes that are preferred in order to create a product that would thrive in Southern India. It is also very important for the MNC to create a product in which the health benefits are a main factor of their soft drink. Throughout the research in this feasibility study, it has been stressed that there is a need from consumers for a soft drink where the health benefits are highlighted as although the carbonated soft drink market is booming (Euromonitor, 2011) it is saturated with other competitors; therefore, the MNC should compete through differentiation and offering benefits of their â€Å"healthier† soft drink product. Overall, the MNC has the chance of being successful when investing in to Indian soft drink market. They need to be careful when dealing with business with them, ensuring they have conducted enough research in to how they do business as it is very different to Europe, as said before, they deal with business in a hierarchical and authoritarian way. However the foreign environment is uncontrollable and the MNC has no control over the macro environment, so they must ensure to fully understand the marketplace and how India operates with foreign investors. Critical Evaluation of Porter’s National Diamond Porter’s National Diamond is described as a â€Å"methodological approach to analyse the most current industry occurrences and competitive status, and to identify emerging issues and opportunities for successful market development† (Batra, M et al, 2009). The diamond is used to investigate an organisation’s ability to compete in international markets by looking at four different components: factor conditions, demand conditions, related and supporting industries and strategy, structure and rivalry. Secondary to these four determinants, porter stresses the need for considering the role of chance and the role of the government in order to have a sound analysis of the competitive advantage of nations. Porter’s national competitive advantage theory suggests that a country’s competiveness within a certain industry will depend on the whether or not the industry has the room to innovate and advance (Wild, 2011, p177). Porter’s diamond is mainly concerned with how and why certain countries are more competitive in different industries. His theory amalgamates the two different denominations of international trade theory from country based theories such as mercantilism and comparative advantage, and also firm based theories such as product life cycle and national competitive advantage (Griffin, 2007, p164) There are many advantages of using Porter’s National Diamond: it allows an organisation to asses and analyse a country, covering all necessary areas to think about, ensuring that it would be a successful country to invest in to. It ensures that the organisation takes in to account everything they need to when considering investing in another country. Although it is only a forecast, if the organisations thinks about all possible occurrences and fully assesses all the components, it should give them an extensive knowledge and assertion that they are making a prosperous investment. Another advantage is that it is academically renowned and used by many organisations and governments across the world. However, Porter’s National Diamond has been criticised for many reasons: firstly it suggests that any role of government is negative, where it could be positive and encourage foreign investments and make domestic industries less competitive (Hadjidakis, 2007, p88). The role of chance is also too difficult to predict as any environment can change very rapidly and unexpectedly. According to Dickens (2007, p187) the diamond compresses too much complex and intricate information in to a â€Å"four-pointed diamond model† and this is not enough to be able to measure the national competitiveness of a country adequately. It has also been argued that porter’s model lacks any distinct definition of the four determinants which in turn, will reduce the predictive power and accuracy of the diamond model (Grant, 1991). Within international business management, when applying Porter’s national diamond, it should be ensured to consider every single aspect that Porter recommends in to major detail to ensure a forecast for investment is as accurate as possible. The different aspects of the diamond should be developed as much as possible so that international competitiveness is driven to thrive and succeed. Reference List Background to Business in India (2011) Available at: http://www. worldbusinessculture. com/Indian-Business-Style. html (Accessed: 10 January 2012). Batra, M. , Niehm, L. (2009), â€Å"An opportunity analysis framework for apparel retailing in India: economic, social, and cultural considerations for international retail firms†, Clothing and Textiles Research Journal, Vol. 24 No. 4, pp. 287-300 Beverage Health (2010) Available at: http://www. beveragehealth. org. au/scripts/cgiip. exe/WService=ASP0017/ccms. r? PageId=10053 (Accessed: 12 January 2012) BSCAA (2009), â€Å"Background note: India†, Bureau of South and Central Asian Affairs, Available at: www. state. gov/r/pa/ei/bgn/3454. htm (Accessed: 10 January 2012) Bureau of South and Central Asian Affairs (2011) Background Note: India. Available at: http://www. state. gov/r/pa/ei/bgn/3454. htm#econ (Accessed: 10 January 2012) Dickens, P. (2007) Global Shift: Mapping the challenging contours of the world economy. 5th edn. Sage Publications: London. Grant, R. M. (1991), â€Å"Porter’s ‘competitive advantage of nations’: an assessment†, Strategic Management Journal, Vol. 12 No. 7, pp. 535-48. Griffin, R. (2007) International Business: A Managerial Perspective. 5th edn. Pearson: Upper Saddle River. Glocalisation (no date) Available at: http://rija-rasoava. weebly. com/glocalisation. html (Accessed: 10 January 2012) Hadjidakis, S. Katsioloudes, M. (2007) International Business: A Global Perspective. Elsevier. India: Development Policy Review (2007) Available at: http://web. worldbank. org/WBSITE/EXTERNAL/COUNTRIES/SOUTHASIAEXT/0,,contentMDK:20980493~pagePK:146736~piPK:146830~theSitePK:223547,00. html (Accessed: 12 January 2012) Indian Plastic Portal (2009) Available at: http://www. indianplasticportal.com/plastic-industry-overview/ (Accessed: 12 January 2012) Mann, M. Byun, S. (2011). Accessing opportunities in apparel retail sectors in India: Porter’s diamond approach. Journal of Fashion Marketing and Management, 15, 2. Available at: http://www. emeraldinsight. com/journals. htm? articleid=1926550&show=html#b7 (Accessed: 10 January 2012) Pearce, A. (2011) ‘Week 9: Production Strategy and International Value Chain’. The diffusion curve [Online]. Available at: https://elp. northumbria. ac. uk/webapps/portal/frameset. jsp?tab_id=_2_1&url=%2fwebapps%2fblackboard%2fexecute%2flauncher%3ftype%3dCourse%26id%3d_223681_1%26url%3d (Accessed: 14 January 2012) Soft Drinks Industry Profile: India (2011) Available at: http://web. ebscohost. com/ehost/pdfviewer/pdfviewer? vid=5&hid=24&sid=89a8abec-1124-46fa-8180-57eef84e8a7d%40sessionmgr4 (Accessed: 10 January 2012). Soft Drinks in India (2011) Available at: http://www. portal. euromonitor. com/Portal/Pages/Search/SearchResultsList. aspx (Accessed 10 January 2012) Sugar: Supply and Demand (2010) Available at: http://www. spectrumcommodities. com/education/commodity/statistics/sugar. html.

Green Construction Essay

The Earth has been around for billions of years and people only a couple of millions of years. Yet, people have made such a huge impact on the Earth. In the course of mankind’s existence, people managed to make advancements that defined the way life is being lived today. However, there are prices to pay for all of the comforts that people are now experiencing. It has been said that there is only one Earth and people must do all they can in order to preserve it. Campaigns have been launched to ensure that life on Earth and the Earth itself can be sustained so that the future generations can still enjoy it. Even prominent people have taken an active role against human activities that contribute to the degradation of the blue planet. One of the activities said to be closely linked with the environment, thus directly affecting the latter, is construction. According to the Urban Environmental Management website, a number of natural resources are being consumed when construction takes place, i.e. land, water and energy (Srinivas, 2007). This being the case, ensuring that the negative effects of construction on the environment be minimized is of utmost importance. Focusing on this issue, the UEM website provided key information about the topic. It managed to define what green construction is. It was also able to highlight the importance of sustainable development, which is a concept closely related to green construction. The information posted on the website is relatively comprehensive. Navigation is not going to be a problem since the layout of the page specifically relating to green construction is simple and user-friendly. If an internet user is new to the concept of green construction, then visiting UEM’s website is going to be a big help in understanding the basics behind the concept. The information on the website ranges from awareness, assessment to action, making the website truly a good find on the internet. Reference: Srinivas, H. (2007). Introduction to Green Construction. Retrieved October 14, 2007, from http://www. gdrc. org/uem/green-const/introduction. html.

What is Critical Thinking?

Critical thinking is the skill to apply reasoning and logic to fresh or unused ideas, views, and conditions. Thinking critically includes seeing stuffs in an open-minded manner and observing an idea or concept from as many approaches as likely. This essential skill lets people stare past their individual interpretations of the world and to improve and realize the views of others. It is frequently used in discussions, to procedure additional cogent and well-rounded arguments, and in science. The skill to think critically is essential, as it generates new opportunities in problem solving.Being â€Å"open-minded† is a huge portion of critical thinking, permitting an individual to not simply search for out all likely answers to a problem, but to as well accept an response that is diverse from what was initially expected. Open-minded thinking needs that a individual does not take responsibility that his or her method of approaching a circumstances is always best, or even right. Cri tical thinking is well-defined as reasonable, reflective, responsible, and skillful thinking that is fixated on determining what to have confidence in or do.Critical thinking is analytical thinking. This sort of thinking takes complications away from each other fundamentally and down to their origins, in order to solve the problems. Critical thinking is not a matter of gathering information. An individual with a respectable memory and who recognizes a lot of facts is not automatically good at critical thinking. A critical thinker is capable to deduce concerns from what he identifies, and he recognizes how to create the use of information to answer problems, and to search for related sources of information to advise him.How is your response different from the one you wrote in Week One? The differences from what I wrote in week one till now is that in week one I was just looking up there information and just cite everything, but now I have a good understanding about what critical thin king is and how to be a critical thinker. In week one I did not know how to think critical but now everything I do I make sure I’m using critical thinking as an everyday route.

Ace Hardware Store Entering Bahrain Market Essay

We have endeavoured to emphasize on the suggested strategies which will allow Ace Hardware to consider venturing into the Bahraini market. Therefore with the information provided and composed, we have the opportunity to examine comments of Ace Hardware which allows us to highlight key issues faced. Organisations need to recognize and meet demands of the exterior factors which include threats and opportunities to uphold their competitiveness in the market. Henceforth, the intention of this report is to essentially investigate and assess the outlook of Ace Hardware Corporation in relation to expansion and growth in the Bahraini market. . 0 Introduction Bahrain is one of the unique countries in the Middle East. It alone has a stable economic climate and welcomes foreign investment with a highly business friendly culture thus making it an efficient country to start business. Introducing Ace Hardware to the Bahraini market because of a numerous aspects such as retaining 100% foreign owner ship and low taxation, provides a free, open and transparent environment that fosters growth, legal system protects companies’ rights, while their free market environment allows businesses to thrive. . 0 Industry Business Description The ACE Hardware Corporation is a well-known wholesaler of hardware and home-related products; the organisation offerings include safety equipment, plumbing products, outdoor living products, pet supplies, door handles, electrical tools, lawn and garden accessories, furniture, home appliances and many more. ACE has been affianced in the wholesale hardware business and has offered dealerships to retailers of hardware and associated items since the company in Illinois commenced incorporating in 1927. Today, ACE is the largest retailer-owned obliging and vibrant leader in the convenience division of the hardware business in terms of wholesale and retail sales and strength of the brand. 3. 0 Company description According to (Irwin, 2012), Ace Hardware ranks highest in satisfying home improvement retail store customers for a sixth consecutive year according to the J. D. Power of Associates Home improvement Retail satisfaction Study of 2012. This measured customer satisfaction with home improvement retail stores, based on the performance of five factors: merchandise, price, sales staff, sales & promotions and store facility. The organisation emphasizes on service and modern retailing techniques and has helped locally owned operated ACE retail stores confront intense competition from Home Depot and Lowe’s. In addition, it provides numerous value-added services such as marketing, advertising, merchandising and design services to its retail members. ACE’s 4,600 stores in all 50 states and more than 60 countries generate annual retail sales of approximately $12 billion (ACE Hardware Corporation, 2012). 3. 1 Type of business Retail Sales ACE’s 4,600 stores in all 50 states and more than 60 countries generate annual retail sales of approximately $12 billion (Ace Hardware Corporation, 2012). Dubai, Shanghai, Canada etc. Applying a Teradata warehouse permitted 2,500 Ace Hardware retail stores to transmit daily a point of sale (POS) transaction detail. According to (Murphy, 2007), â€Å"Teradata is the world leader in data warehousing solutions with a proven track record in retail, as we discovered when we sought vendor references. That experience, including customer relationship management, category management and business intelligence, made Teradata the right choice for Ace Hardware. † Basically, Ace relies on active warehouse data from Teradata, which has delivered a single repository for retail and wholesale sales, purchasing, customer information, financial data and inventory to essentially support large varied workloads. Wholesale In addition to its 14 retail support centres in the United States and freight forwarding operations on the West Coast and East Coast, ACE features three international distribution centres in Dubai, Shanghai and Panama. The international distribution centres provide: 1. Easier access to core stock of leading brand products and certified ACE products through their global supply warehouse 2. Online ordering systems 3. In-market fully operational support offices. â€Å"It is very useful to have Ace as a partner for this type of market. It is nice to be able to replenish your inventory on a weekly basis, which makes it easier to control. Our goal is to be a one stop shop for everything in your home, and we can do that with Ace. The people in the community can buy the Ace brand with confidence because it’s proven to be a good quality product. Jorge Ossa  Commercial Manager, Cemaco – Guatemala (ACE Hardware Corporation, 2012). ACE has established an accurate and demonstrated operating model for effective and efficient distribution allowing ACE Hardware retailers the wholesale benefit they require to be successful and profitable. Below are the some of the wholesale advantages available for ACE Hardware store owners:- * Lowest cost of goods * Named #1 Distributor according to Home Channel News in 2009, 2010 and 2011. (Home Channel News, August 2011) * #1 in wholesale sales at $3. 5 billion (Hardware Retailing, December 2010 ) * The combined buying power of over 4,100 locations To support the growing number of international ACE retailers and leverage international wholesale opportunities, ACE opened the Ace Global Distribution (ASG) warehouse in Shanghai, China 2006 (ACE Hardware, 2012). 3. 2 Legal Structure Each Ace Hardware store is individually owned and operated by local entrepreneurs – hard-working, passionate business owners who are involved with and, many times, exist in the communities where their stores are based (Ace Hardware Corporation, 2012). . 3 History ACE Hardware organisation was founded when Richard Hesse, Frank Burke, Oscar Fisher, E. Gunnard Linquist, William Stauber unified to form a purchasing and advertising enterprise among their Chicago- area hardware stores. Moreover, their combined buying power allowed the store owners to negotiate lower prices on merchandise acquired from wholesalers. Therefore, embracing the ACE name in 1927 and incorporated the succeeding year. Frank Burke served as president of the group and was succeeded by Richard Hesse in 1930. Over the next two years the firm progressed into a hardware organisation, obtaining directly from producers and storing merchandise in its own warehouse in Chicago. This strategy allowed ACE to further reduce costs by removing ‘middlemen’ wholesalers (Anonymous, 2012). Moreover, during its first half-century of operation, ACE was basically a conformist wholesale group, and its profits were distributed equally among shareholders. The company’s low-cost purchasing and distribution procedures quickly enticed new employees and franchisees. By the mid – 1930’s, the organisation had 41 members and sales of more than $650,000. Throughout history, ACE has accomplished to solidify their position as one of the strongest and leading competitors in the hardware industry. 3. 3. 1 Mission The mission of the ACE team is to ensure that their customers are satisfied. According to (Anonymous, 2012), â€Å"When something goes other than the way it was planned, we do everything in our power to make it right. You have the ACE promise on that†. In relation to corporate social responsibility (CSR), ACE Hardware has partnered with the CMN hospitals to give back to communities. The ACE Foundation has raised over $50 million since 1991 to help sick and needy children through partnerships with Children’s Miracle Network (CMN) hospitals. ACE also supports the American Red Cross Natural Disaster Relief Fund through donations of work gloves, shovels, mops, bottled water and more (ACE Hardware Corporation, 2012). Once again, ACE is proud to serve as a sponsor of the Champions program. The retail stores and ACE foundation organise a myriad of fundraising initiatives, many of which our generous customers are welcome to get involved. Furthermore, these fun and unique experiences raise much-needed funds that essentially result in the power to change lives and treat sick children at the Children’s Miracle Network Hospitals around the United States. Miracle Jeans Weeks is a program where employees throughout the company wear jeans during the company’s five designated Miracle Jeans Weeks each year. Furthermore, with a cost of $1 per day and almost 900 people on campus, it’s never in doubt that thousands of dollars are raised yearly from this enterprise. 3. 3. 2 Goals & Objectives One of ACE’s goals is customer satisfaction as they value their customers. â€Å"We know our customers want to be spoken to in a more personal manner, rather than in a blast† says Rich Neal who is ACE’s one-to-one manager. â€Å"So we have robust analytics team, and follow-up purchases with thank-you emails and direct mail, broken down into eight categories, including grilling and lawn and garden† (Mahoney, 2011). Therefore, for ACE Hardware customer satisfaction isn’t just an idea, it’s basically the entire purpose. According to (Marketing charts staff, 2011), J. D Power and Associates (2011) U. S Home Improvement Retailer Satisfaction Study, Ace Hardware ranks highest in satisfying home improvement retail store consumers, accomplishing a score of 786 on a 1,000-point scale, for the fifth consecutive year.. The study, now in its fifth year, measures customer satisfaction with home improvement retail stores which is built on the overall performance on five aspects: staff and service; store facility (including merchandise and cleanliness); merchandise (product information details); price; sales and promotions. 3. 4 Company Structure Ace’s Board of Directors establishes guidelines for Ace management. There are between nine to 12 director positions. Ray Griffith assumes the role of president and CEO and David Ziegler as the chairman of the board. 4. 0 Ace Product analysis: Ace hardware store offers an extensive range of more than 30,000 quality household products from kitchen mops to garden furniture and camping equipment. Ace’s product range consists of the everyday items such as sponges and shower curtains as well as occasional purchases such as wall paints and lawnmowers. Ace’s Products are categorized into: Outdoor Lifestyle: Ace has a wide range of outdoor lifestyle products to suit distinct tastes and needs -Outdoor furniture -Camping -Barbeque -Pools and spas -Outdoor constructions Gardening: a stimulating selection to meet outdoor gardening needs. -Gardening tools -Seeds -Indoor/outdoor plants -Pots and vases -Watering -Fertilizers and chemicals -Landscaping -Fencing and edging -Water features -Garden decor -Garden lighting -Shades and turf DIY: With the widest product range, competitive prices and informed staff, ACE is the choice for D. I. Y. enthusiasts. All ACE stores offer a wide selection of Tools, components and essentials for DIY as well as the biggest range of world renowned brands in power tools. ACE also provides free advice and solutions on any hardware or D. I. Y problem as well as free repairs on power tools under warranty. -Power tools -Hand tools -Hardware -Fastenings and fixings -Tool Storage -Timber -Electrical -Security Equipment -Safety Automotive: Ace has a wide range of quality automotive products. From accessories, cleaning and car care products, sunshades, 4X4 accessories and emergency kits to enhance the looks and performance of your vehicle. 4Ãâ€"4 adventure -Car Cleaning and Maintenance -Car Interior -Emergency and Safety Painting and Decorating: Ace offers more than 16,000 colors of paints; customers also can mix their own colors to come up with their ideal paint pallet. Ace provides all the necessities needed to complete the process of decorating homes. -Paints -Paint Equipment -Adhesive and fillers -Wall c overing -Arts, crafts and hobbies Home ware: ACE home ware has a complete range of lifestyle accessories all under one roof. -Cleaning, Laundry -Storage, Packaging -Living -Bed and Bath -Kitchen -Electrical -Wellness Pet Care: ACE offers a range of pet supplies and related pet products and accessories catering to dogs, cats, birds and fish. Ranges vary from pet food, toys and other essential pet care accessories. Services: Rental service: The Ace Rental Place offers a wide variety of equipment for rent on a daily, weekly or even monthly basis, great for items required for few usages or simply to try them out before deciding on the purchase. All rental items are well maintained with expert customer service. Customers can rent the following items:- †¢4 Burner Gas Barbeque †¢Upholstery/Carpet Cleaner †¢Generator †¢High Pressure Cleaner †¢Port-a-cool Ladder 16ft Multi-master In store services: -Assembly – Installation/key cutting -Automotive chip key cutting- Pipe Cutting and Threading -Blade sharpening – Screen Repair -Computerized paint – color matching- Small Engine Repair -Delivery- Special Order Services -Glass and acrylic sheet cutting -Glass repair -In store lock servicing 4. 1 Customer profile/demand analysis: Aces vast range of products and services encourages a diverse range of customers with different needs and wants. Hardware stores in general often prioritize their target market as home owners as the products they offer are mostly for household use. Ace is more than just a hardware store that just sells tools for men, it’s a superstore that attracts both men and women who are making decisions in the appearance and upholding of their homes. Loyal customers As part of a customer retention strategy the Ace marketers have focused their attention on customer insights, by creating a card-based loyalty club – the Helpful Hardware Club (HHC) customers at the store can sign up to the program making them eligible purchase discounts and special offers. Ace targeted the Lifestyle segment to boost their retention program causing evenues to rise 5. 4 percent as lapsed customers were enticed by discounts to return to their local Ace stores. (Nielsen 2009) Aces product portfolio also consists of outdoor leisure activities targeting consumers that are not necessarily home owners or prime decision maker with the household. Products for occasions such as camping or barbequing target a segment of active leisure consumers. This segment broadens ACEs target market outside home owners. The demand is not only in home improvement products but also in the items needed to care for them. This demand has forced manufacturers to introduce a large range of new cleaning products which targets upscale shoppers who desire convenience and a more natural, non-toxic product. Current market Bahrain is regionally known for its cosmopolitan lifestyle suggesting sophisticated consumers, with their relatively high purchasing power these consumers have a high willingness to spend especially on premium products and brands. 4. 2 Competitive situation: (Ellen 2010) Ace Hardware Corp the largest retailer-owned cooperative in the hardware industry by sales and the second largest dealer-owned cooperative in the United States. Ace’s innovation is what led them to establish the strong position they hold today. With over 4,000 stores in 60 different countries ACE hardware were ranked 8th in franchise directs top 100 global franchise’s (Francise Direct 2012). Ace hardware store faces intense competition within the United States. The US home center, hardware store and home improvement retail industry includes about 23,000 hardware stores and home centers with combined annual revenue of about $150 billion. The home center segment of the industry is highly concentrated: the top four companies account for more than 90 percent of segment revenue (Hoovers 2012) The success of individual companies depends highly on competing low-cost purchasing, effective merchandising, and competitive pricing. The top three competitors of ACE are:- †¢Lowe’s Companies Inc. †¢The Home Depot Inc. †¢Do it Best Corp Despite the intense competition in their domestic market, ACE has an opportunity in Bahrain as the Hardware store industry is not as well developed leaving space for entry in to the market. However, there will of course still be some Potential Competitors in Bahrain that Ace will have to face:- Ace’s direct competitor in Bahrain will be Manazel Hardware store; Manazel first opened its doors in October 1995 at Salmabad, Bahrain. It is a family owned business based in Bahrain. Carrying more than 50,000 products ranging in over 20 categories, some of which include: Furniture, Home ware, Hardware, Bathroom ;amp; Plumbing accessories, paint and Sundries, Outdoor Living, Garden Furniture and Accessories. Their Materials are sourced from all around the world to provide everything for your home and garden. Manazel 2012) Ace could initially face challenges competing with Manazel due to it being a locally based company, depending on the loyalty of their consumers it could be difficult in convincing them to switch to ACE. Ace has the advantage of being a well-established global brand and with the high rate of expatriates in Bahrain they may naturally prefer to switch to a m ore recognized brand. Ace will also face competition amongst the small local hardware and tool stores. These stores are popular amongst price sensitive customers. 5. 0 Environmental factors 5. 1 Host Country Business Climate: Bahrain offers very distinctive traits in the Middle East. It enjoys a stable economy climate and competitive costs. It has an amazingly business friendly climate which is an attraction for ACE and other companies to do business in this country, it has an excellent regulatory framework, and supportive government policy (Najjar 2011) The Host country for ACE Hardware is Bahrain, Bahrain is an Arab country with a total land Area of 712 square kilometres, a population of about 1,234,571 (end of 2012), out of which 666,172 are locals, according to the central bank of Bahrain. The main towns in Bahrain are Manama and Musharraq, the climate is mainly very hot and humid, language is mainly Arabic, but English is widely spoken. The metric systems used include 1dhara=48. 26 cm, 1 rafa=254 kg, the currency is the Bahraini Dinar (BD) = 2. 65 USD, the Time is 3 hours ahead GMT (Bahrain: Basic Data 2012). Bahrain is an Arab country and has the monarchy system, the ruler, king Hamad bin Isa al-Khalifa is expected to be secure for some ime to come; the Al-Khalifa family has control over most of the executive branches of government and legislature remaining weak. There will however always be primary tension over economic and financial inequalities, with the halting pace of political liberalisation of sectarian discrimination. Real GDP growth for Bahrain was expected to slow down to 3. 1% in 2009, as mainly international demand for Bahrain exports is weakening, but was expected to recover to 3. % in 2010 (Bahrain economy, 2009), and is expected to rise up to 4-5% in 2 012 due to increases in crude oil production, manufacturing and government spending according to the Economic Development Board (EDB) (Andy 2012). Bahrain’s business climate in 2007 attracted almost $1 billion worth of investments in new projects in 2007 as reported by Dr Hassan Fakhro minister of Industry and Commerce, He also went ahead to mention that new investments in the new projects were worth 373. 3m Bahraini currency, which is about $987. 6 million and these new projects also created about 13, 536 jobs in the country (Middle East Financial News 2008). Oil production output from Bahrain’s single aground field is in decline however, and the monarchy government is aware of the country’s vulnerability to changes in oil prices globally, with oil being the major source of government revenue for the country accounting to more than 70% of the economy. The economy of the country also relies heavily on goodwill received from Saudi Arabia, which runs a large offshore oil field whose production it shares with Bahrain. All these limited resources has made Bahraini government to have the strategy of diversification in order to prosper, increase the role of the private sector and provide a welcoming environment for foreign investment. FIGURE 1. 0: BAHRAINI GDP 2001-2012 BAHRAINGDP GROWTH 2001-2012 200120022003200420052006200720082009201020112012 4. 6%5. 2%7. 2%5. 6%7. 9%6. 7%8. 4%6. 3%3. 1%4. 5%1. 8%2% SOURCE: global finance: Bahrain Country Report 5. 2 SWOT ANALYSIS: Strengths; ACE hardware is a strong brand both across the USA and the world stage, with more and more expansion into the global markets into several countries across all the continents of the world. ACE has the resources and ability to pursue growth in multiple directions, with the ACE leadership team making a smart decision of focusing on their paint production, which has made them gain a huge customer base and customer loyalty (Bueno 2012). In 2010 ACE hardware has generated in excess of $3. 45 billion in wholesale and retailers enjoyed the added bonus of collective buying power at this volume by getting a decreased cost in goods, which has built the basic foundation for a more profitable option (ACE 2011). ACE produces many DIY products and many changes have taken place in this market over the last 85 years, ACE ownership however still remains the on top in customer satisfaction according to Business week and was ranked â€Å"highest in customer satisfaction Among home improvement stores four years in a row† (JD power and Associates) ACE hardware also enjoys major success in the market share with the help of top of the range advertisement and reduced goods cost, it has slowly established itself to be a major player in the global market for hardware products. ACE also expanding its wings to get a piece of the business boom, and with the advantage of an established brand name, it will be relatively easy to penetrate under developed markets as more businesses would want a merger with them as opposed to its rival companies. ACE is a sophisticate and established brand worldwide, and has adopted the new technologies as they come which has giving the company a competitive advantage as they are more organised and technologically more advanced, which has led to reduction in production costs for the company. The expansion of ACE into the global market has seen it gain market share, more so than their competitors such as Home Depot, Lowe’s etc. Weaknesses; ACE hardware has relatively small stores, compared to their rival companies like Lowe’s, Home Depot and Menards on selection ACE Hardware in 2008 reported a net income of $10. 8 million for the first quarter of 2008, which was a decrease as compared to 2007 when they reported $14. 1 million which was a $3. 3 million decrease. The company also reported earning s before interests and taxes of $13. million in the first quarter of 2008 as compared to $29. 2 million in the first quarter of 2007 (9) ACE hardware has encountered losses resulting from physical damage to breakdown of its computers in the European market, which has led to replace damaged computer hardware, the reinstatement of lost programs or Data and also had to increase working costs as a result of the problems (10). Opportunities Bahrain’s financial freed om ranking is 77. 7, making its economic system the Tenth freest in this year’s Catalog (2012). Its overall ranking is 1. 4 points higher than last year, with upgrades in trade freedom; investment freedom, work freedom, and freedom from data file crime error. Bahrain is rated 1st out of 17 nations in the Centre East/North African-American area, and its financial freedom ranking is well above the world average (Bahraini economic development Board, 2012) from the perspective of Ace this reduces business constraints giving them the freedom to commercialize their brand and reduces limitations on investment. Situated near commercial establishments in the Gulf with a causeway relationship with Saudi Arabia and the rest of the GCC, Bahrain is seen as a gateway to the Gulf, an industry of over 100 thousand individuals. Bahrain’s variety and openness keeps presenting opportunities for exporters. It has the most varied economic system in the Gulf Bahrain does not currently have a competitive hardware industry with only a few entrants and one major Hardware store giving ACE the flexibility to enter and the means to operate however they choose. The hardware market ACE is involved in is a highly competitive market, it takes a lot of marketing research by ACE and expensive research and new technological adaptations for the company to stay ahead of competition, couple with the reduced purchasing power of consumers due to economic downturns globally have been detrimental to business for ACE. Threats The law requires that you have a local partner who maintains most majority interest and can therefore manage the company and can close it anytime he wishes. The local partner, be it an organization or an individual, does not need to give rise to the start-up financial commitment or take part financially at all. (Bahrain, 2010). This could mean lack of security for ACE as there is the chance of being closed down with no warning or notice. The changes in labor Laws and regulations constantly by the US and other countries have been detrimental to their expansion, other domestic and international factors also have to be considered by ACE before entering into any market in any country, such as culture, corporate social responsibility obligations are all external factors that ACE has to consider. The process of opening a business in Bahrain is complicated and economically dangerous, significance that local information is essential. You must also seek advice from a good attorney from the beginning. A knowledgeable attorney will provide information to you through the signing up complications and his help will be important in defending your interests. This is applicable whether you are starting a moderate shop or a big enterprise (Bahrain 2010) The current Political unrest in Bahrain creates an unpredictable business environment. If the unrest becomes worse this could have major effects on Ace’s business activities in the region, currency fluctuations and could see reductions in the amount of expatriates present in Bahrain causing Ace to lose a large part of their target market. 5. 3 Government constraints in Bahrain Economic growth The economic growth is for Bahrain is likely to slow down in Bahrain; it went down to 3. 3% in 2010 as regional growth in the country as government finances are getting squeezed. Local consumption of private homes and offices is expected to slow sharply, with no a real positive growth in the employment sector. However government consumption growth in Bahrain is forecasted to also slow down. For ACE however the major demeaning factor of business entry into Bahrain would be the limited fiscal constraints in the country, as well as the subdued outlook for global direct investments flows. And the demand for exports and of goods and services is also forecasted to decline, ACE might have a hard time penetrating into the Bahraini market (Ace Hardware 2008). Economic policy An advantage for ACE going into the Bahraini market is the countries determination to move away from the oil sector. The government is determined to stimulate the private sector growth and foreign investments, and address high unemployment problems (Bahrain News Agency 2012) this would be an advantage to ACE as the government will give them an advantage of being accepted into the country without many business constraints. They can be assured of government support which is a large determinant of business success or failure for any business going into another country. Inflation and the exchange rate Consumer price inflation is expected to moderate in the coming years because of slower domestic demand growth. But with a relatively strong currency against the Euro and the Dollar inflation is expected to slow down an average of 1. 8% in 2009-2010. The Bahraini government is intending to enter into a currency agreement with Saudi Arabia, Kuwait and Qatar, and with the UAE, which has pulled out though, and the government and the central bank of Bahrain is expected to maintain the dinar’s value and peg it at the rate of BD0. 67=$1 that has been in place for 3 decades (Bahrain News Agency, 2012). Setting up a business in Bahrain For ACE hardware it would be good news for them to know that Bahrain is ranked first in the Economic freedom index in the Middle East and North Africa (MENA) region, and is seventh overall globally according to the Fraser institute Report 2012. The report by Fraser classifies these countries by using themes such as governm ent volumes, legal system, and intellectual property rights security, accessibility to sound funds, freedom of international trade and organization credit, manpower and companies. All these factors are important criteria to be considered by ACE before going into business in Bahrain. 5. 4 PEST ANALYSIS Political Legal Environmental Laws Bahrain has set up a strict law on polluters as fines of up to $133,000 are issues under Bahrain’s new environmental protection law, this is the first law of it ‘s kind related to anti-pollution in the Persian Gulf state. This law covers everything from car emissions, noise and workplace pollution, as well as handling and disposing of hazardous waste materials and chemicals. This is in accordance with what ACE has to achieve to be successful in Bahrain by practicing Corporate Social responsibility (CRS) to maintain the environment in Bahrain or risk serious government and legal issues (Pittsburgh Post, 1996) Stability of the Government Bahrain has entered into an era of instability due to a combination of the Arab spring recently, longstanding local grievances, the competition of regional powers and other external forces. The solution to this problems can be dialogue between the ruling Al-Khalifa Family and all opposition parties. The crisis has however slowed down in recent times with more and more dialogue and compromises being reached between both parties (Bahrain’s Quest for Stability 2012). Economic GEP growth in Bahrain In 2004 the Bahraini GDP has been reported by the ministry of commerce to have grown by 5. 2% from the previous year, this has been largely due to increase in foreign direct investment flow (Middle East 2004) and has been growing ever since with a reported GDP of 2. 1% increase in 2012. Currency The Bahraini currency is the Dinar and at 0. 67 Dinar to a US Dollar it is one of the strongest currencies when it comes to exchange in the World. Consumer price inflation is expected to moderate in the coming years because of slower domestic demand growth. This for ACE can only mean good news as it will be a positive currency to work with and no inflation worries that have to be considered by ACE. Social Population distribution in Bahrain The Bahraini age distribution has been as of the ye ar 2010 the kingdom was 1,234,571, part of which 568,399 were locals and the other 666, 172 were non Bahrainis. This from 2001 the population was 650, 604, this is an increase of 89. %. However, the population of the locals has decreased from 2001 to 2010 reaching 46% from the previous 62% in 2001. The proportion of the population of Bahrainis in the total population during the period from 2001 to 2010 decreased, reaching 46% in 2010; while the corresponding figure in 2001 was 62%. The percentage of non-Bahrainis increased 54% in 2010 while it was 38% in 2001 (Census, 2010). This shows an increased number of expats coming into the country which will mean for ACE that products should not only be made to suit the local citizens but the majority foreigners, which means overall business strategy has to change. Religion and Language: The official language in Bahrain is Arabic; however English is widely spoken mainly in business meetings and other social interactions. The non-Bahraini in the country mainly speak Farsi an Iranian language, or Urdu which is a Pakistani language. The main religion in Bahrain is Islam, which is the 2nd largest religion in the world, Muslims in fast for a month every year in the month of Ramadan. The Bahrainis though make use of both the Islamic and western calendar but mainly use the western calendar for business operations. Business meeting etiquette Appointments are necessary, morning meetings are preferred. However meetings are not advised during the months of August and July because most Bahrainis travel out the country when the heat is at its worst. , they are quite time conscious, so arrive at meetings on time. Personal topics should generally be avoided unless the relationship has developed or there is need to discuss matters confidentially. Bahrainis usually have an open door policy, so meetings do get interruptions. Business meetings also start after a long talk about health, family etc. Business Negotiation Etiquette The building of trust is important since trust is required in order to conduct business. Bahrainis are very time conscious and time driven, the actual meeting is more important than the timeliness or outcome. Bahraini organizations are hierarchal, the highest ranking employee or worker reaches decision. Decisions are top down and lower level employees usually have no say. Decisions take a lot of time; if you try to rush it will be perceived as rude and disrespectful. Technological The economic system in Bahrain relies upon intensely on innovative petrochemical technology, and many Bahrainis have had or are getting specialized training at several universities all over the country. Technology is just coming up in Bahrain with many projects being undertaken in recent times, but perhaps the most important is the Bahrain Green Tech EXPO which is dedicated to the green consumer products. Due to the high demand for environmental protection globally, Bahrain has taken this as the only business to business trade show focused specifically on ECO friendly consumer products. 6. 0 Business Strategies 6. 1 Product /service positioning Positioning is what the customer believes about your product’s value, feature, and benefits, it is a comparison to the other available alternatives offered by the competition (Jackson, 2012). Some basic strategies include:- By attribute or benefit This is the most frequently used strategy in positioning. In this case, Ace hardware’s products are mostly house used products, and the benefits they can give to the customers are the after service, and the quality. The after service they give is mostly repairing, assembling and delivery. Level of service and quality of a product offering are the main influences of developing a strong brand image. By user Customers often choose brands that identify with their own self-image. Ace should position itself to suit the image of the end user. Therefore ace should focus on the wants and needs of their target audience and how they perceive themselves and the brand. By competitor Competition wouldn’t be much of an issue for Ace since they would be entering a market that is not fully developed in Bahrain with few competitors. But they should remain aware of new entrants which are always a possibility and they need to be aware of the changes that may occur. By price or quality Price and quality are directly related in minds of consumers, People are willing to pay premium prices for premium brands that are have high quality. It is very important for Ace to identify where they want to be placed on the pricing matrix shown in figure 1. Ace product offerings vary in brands therefore prices will also vary depending on brand and quality. 6. 2 Pricing strategy Because of Ace’s diverse product range of brands they would need to use more than one pricing strategy. Using the pricing matrix above ace could use this as a guidance to set appropriate pricing strategies. Premium Pricing: One pricing strategy suitable for Aces different brands is premium pricing. Certain brands offered by Ace are luxurious brands with high quality and high price. It is clear on the matrix for these products Ace should use premium pricing which allocates high prices to those brands Economy Pricing: Ace also offers products at more affordable prices however they may have lower quality then premium brands. These types of products attracts customers that are not willing to spend excess amounts of money and would rather spend less for less quality Competitive Pricing: ACE could also use competitive pricing strategy to set benchmarks on their own prices. This strategy is most effective when there are limited competitors in the market which is the case for ACE and Manazel. Ace has a clear advantage over Manazel as it is a globally established company enabling them to set their prices slightly higher than Manazels. Estimated Selling Price: The estimated selling price for ACE hardware products in Bahrain would have to be set under consideration of several factors, such as the GDP of the country, the purchasing power of the country, the competitor prices and the strength of the Bahraini currency The GDP is the value of all final goods and services produced within a nation over a period of a given year. The Gross domestic products (GDP) of Bahrain is the lowest in the Middle East with a reported $32 billion in 2011, however when it comes to consumer purchasing power of Bahrain, it is ranked fifth in the Middle East with a reported $27,900 in 2011. ACE can base it’s pricing on this and compare to its most similar market which is the UAE which is ranked second on the purchasing power list in the Middle East with $48,800 in 2011 (Index mundi, 2012) The Bahraini currency is a major factor for setting prices, comparing to the UAE market which is the closest to Bahrain both geographically and economically 1 Bahraini Dinar = AED 9. 7 so prices can be higher for the Bahraini market considering the difference in currency strength. Bahrainis live a very cosmopolitan lifestyle and would be prepared to buy from expensive and established brands (Numbeo, 2012), which will mean ACE, shouldn’t face many issues setting medium to high prices in Bahrain. But for the large number of expat s in Bahrain ACE has to adapt itself due to the target market it has set for itself when setting prices. Expats are genuinely not price sensitive when it comes to purchasing from known global brands as they find it easier to trust brands they are familiar with. The most important factor however is comparison of process with its main competitor in Bahrain which is Manazel; this company has built its reputation in Bahrain as one of the best Hardware stores and offers discounts and promotional vouchers to loyal customers (Manazel, 2012) which will mean stiff competition for prices for ACE. However, due to lack of information on actual goods prices for Manazel, ACE can do further research and sets it prices on information found. 6. Distribution and logistics Ace products will be available to customers through two sources: Retail sales: as many of its branches worldwide also provide retail shops, similar shops should also be provided in Bahrain in different major cities, to make the products more accessible to customers in more varieties, and as shopping is part of the Bahrainis past time this will be a major attributor to its overall sales. It will also increase overall brand popularity of ACE in Bahrain. Online store catalogue: ACE provides this service for many of its branches in different countries worldwide, but as internet commerce is not popular in Bahraini ACE should not expect major traffic on these online websites. Ace currently has distribution centers located in various parts of the world to enable more efficiency for their global stores at different pin-points. This way transport costs can be cut as well as time on delivering inventory. The closest distribution center to Bahrain is currently in UAE being operated by the Al Futtaim group. Ace can extend their current agreement with Al Futtaim for them to deliver across to Bahrain and take care of their inventory as well as the UAE. 6. 4 Promotion and Advertising Promotion ACE’s competitor in Bahrain Manazel offers various promotional vouchers and discounts to its customers, should be a model ACE will focus on that will help it gain more popularity with customers. Coupons, discount vouchers, loyalty cards should all be included as promotional tools by ACE and all promotional activity should reflect the goal ACE wants to be perceived as which is ‘the helpful store†. Advertising The most important part of marketing for any product is advertising, there are several tools ACE could you to get its name out in Bahrain which include, word of mouth, billboards on (major signs, buses etc. ) radio adverts, Television and much more. Due to culture and market similarities with the UAE ACE could use existing ads in Bahrain to cut costs in advertising research. 6. 5 Estimated sales/sales mix A sales mix is the specific sales of each product offered by a company in comparison to total product sales. Businesses commonly track this information to figure out exactly how much profit they make or can make when marketing a range of items or services. The sales mix of products will often impact an organization’s bottom line. 6. 6 Production/service strategies Production or operations strategy refers to the pattern of decisions or course of action that the organization takes to produce goods and services. The production strategy shows the direction the production or operations function of an enterprise should take. It has important consequences for the way production resources are selected, deployed and managed (Sarkissian. 2012). 7. Financial Planning â€Å"Financial planning is the process of meeting your life dreams/goals through the proper management of your finance† (Beniwal, 2010). This allows the usage of several financial tools such as Profit and Loss Statements, Cash Flow Projection and Financial Analysis to basically achieve financial objectives. 7. 1 Profit and Loss Statement Below is the Condensed Consolidated Statements of Income (Unaudited) for the three and nine months ended September 29, 2012 and October 1, 2011. ACE HARDWARE CORPORATION| | | | | | | | CONDENSED CONSOLIDATED STATEMENTS OF INCOME| | | | | | | (Unaudited, in millions)| | | | | | | | | | Three Months Ended| | | Nine Months Ended| | | September 29,| | October 1,| | September 29,| | October 1,| | | | 2012| | | 2011| | | 2012| | | 2011| | | (13 Weeks)| | (13 Weeks)| | (39 Weeks)| | (39 Weeks)| | Revenues| $| 949. 9| $| 912. 0| $| 2,929. 0| $| 2,787. 5| | | | | | | | | | | | Cost of revenues| | 826. 1| | | 797. 6| | | 2,564. 3| | | 2,449. 3| | | | | | | | | | | | | | | Gross profit| | 123. 8| | | 114. 4| | | 364. 7| | | 338. 2| | Distribution operations expenses| | 25. 1| | | 26. 2| | | 74. 4| | | 70. 7| | | | | | | | | | | | | | | Selling, general and administrative expenses| | 35. | | | 36. 2| | | 104. 5| | | 104. 3| | | | | | | | | | | | | | | Retail success and developme nt expenses| | 26. 2| | | 27. 6| | | 91. 5| | | 84. 1| | | | | | | | | | | | | | | Total operating expenses| | 86. 8| | | 90. 0| | | 270. 4| | | 259. 1| | Operating income| | 37. 0| | | 24. 4| | | 94. 3| | | 79. 1| | | | | | | | | | | | | | | Interest expense| | (4. 2)| | | (8. 9)| | | (20. 2)| | | (27. 8)| | | | | | | | | | | | | | | Loss on early extinguishment of debt| | -| | | -| | | (19. 9)| | | -| | | | | | | | | | | | | | | Interest income| | 1. 0| | | 1. 5| | | 2. | | | 3. 8| | | | | | | | | | | | | | | Other income, net| | 1. 7| | | 1. 5| | | 5. 0| | | 6. 1| | | | | | | | | | | | | | | Income tax expense| | (0. 9)| | | (1. 4)| | | (2. 4)| | | (2. 4)| | | | | | | | | | | | | | | Net income| | 34. 6| | | 17. 1| | | 59. 7| | | 58. 8| | Less: net income attributable to non-controlling interests| | 0. 3| | | 0. 1| | | 0. 3| | | 0. 3| | | | | | | | | | | | | | | Net income attributable to Ace Hardware Corporation| $| 34. 3| | $| 17. 0| | $| 59. 4| | $| 58. 5| | Accrued patronage distributions| $| 33. 3| | $| 15. 2| | $| 57. 0| $| 53. | | See accompanying notes to the condensed consolidated financial statements. | | | | | Ray AGriffith, GuziK, William M & Gast, Erik D. , 2012). | | | | | | | | | | | | | ACE HARDWARE CORPORATION| | | | | | CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS| | | | (Unaudited, in millions)| | | | | | | | Nine Months Ended| | September 29,| | | October 1,| | | 2012| | | 2011| | | (39 Weeks)| | | (39 Weeks)| Operating Activities| | | | | | Net income| $| 59. 7| $| 58. 8| Adjustments to reconcile net income to net cash provided by operating activities:| | | | | | Depreciation and amortization| | 30. | | | 29. 0| Amortization of deferred gain on sale leaseback| | (0. 9)| | | (0. 9)| Amortization of deferred financing costs| | 1. 6| | | 2. 2| Gain on disposal of assets, net| | -| | | (2. 0)| Provision for doubtful accounts| | 2. 8| | | 3. 2| Loss on early extinguishment of debt| | 19. 9| | | -| Other, net| | 0. 2| | | -| Changes in operating assets and liabilities:| | | | | | Receivables| | (43. 2)| | | (39. 0)| Inventories| | (28. 9)| | | (68. 9)| Other current assets| | (2. 6)| | | 2. 7| Other long-term assets| | (7. 0)| | | (8. 0)| Accounts payable and accrued expenses| | 32. 6| | | 72. | Other long-term liabilities| | 6. 0| | | 2. 2| Deferred taxes| | 1. 1| | | 5. 0| Net cash provided by operating activities| | 71. 3| | | 56. 6| Investing Activities| | | | | | Purchases of marketable securities| | (9. 0)| | | (46. 1)| Proceeds from sale of marketable securities| | 8. 6| | | 46. 3| Purchases of property and equipment| | (31. 2)| | | (19. 5)| Decrease in notes receivable, net| | 1. 6| | | 1. 4| Other| | 0. 1| | | 0. 1| Net cash used in investing activities| | (29. 9)| | | (17. 8)| Financing Activities| | | | | | Net borrowings under revolving line of credit| | 113. 0| | | 9. | Proceeds from issuance of long-term debt| | 200. 0| | | -| Redemption of senior notes| | (301. 3)| | | -| Principal payments on long -term debt| | (7. 5)| | | (4. 0)| Payments of deferred financing costs| | (5. 2)| | | -| Payments of cash portion of patronage distribution| | (27. 7)| | | (26. 4)| Cash Flow Projection Condensed Consolidated Statements of Cash Flows (Unaudited) for the nine months ended September 29, 2012 and October 1, 2011 Payments of patronage refund certificates| | (17. 3)| | | (17. 3)| Proceeds from sale of noncontrolling interests| | 0. 3| | | 8. 8| Other| | 0. 6| | | 0. | Net cash used in financing activities| | (45. 1)| | | (29. 2)| (Decrease) increase in cash and cash equivalents| | (3. 7)| | | 9. 6| Cash and cash equivalents at beginning of period| | 15. 8| | | 9. 3| Cash and cash equivalents at end of period| $| 12. 1| $| 18. 9| Supplemental disclosure of cash flow information:| | | | | | Interest paid| $| 21. 3| | $| 20. 1| Income taxes paid| $| 0. 9| $| 0. 5| See accompanying notes to the condensed consolidated financial statements. | | | | 6| | | | | | (Ray A Griffith, GuziK, William M & Gast, Erik D. , 2012 8. 0 Management considerations ACE will undertake a big change in bringing ACE hardware to Bahrain, Bahrain overall will be a good prospect as the company has penetrated a similar market in the Middle East (i. e. United Arab Emirates) and with a very stable economy and freedom of business with no government interruptions it will be a relatively easy venture for an established brand such as ACE. However the management at ACE has to consider several factors that will make the venture a more smooth transition, such as trying a joint venture with a local business, culture considerations so as not to put out unethical products. 8. Personnel/sales force factors A sharp forecast of more and employees getting into the professional field in Bahrain, and the stiff rise in population over recent years and also the preferences giving to the locals in hiring, ACE hardware has to take into considerations means and processes of hiring its employees, personnel training and qualification has to be of the highest standard and profe ssional communication skills has to be a criteria in hiring employees 8. 2 Business Advisors: With the help of a business advisor Ace could more effectively implement their strategy to break into the market in Bahrain. An effective business advisor would ensure a smoother transition by assisting ace in dealing with the laws and regulations entering the market and guiding them through government policies. Due to Aces existing established stores already present in the UAE the corporation already has knowledge on the different structures of setting up business in the Middle East. Business advisors in Bahrain would help them in ways more specific to the Bahrain market and can also help them with most effective Methods of Marketing in the country and the most effective locations to set up stores. 9. Recommendations/Conclusion Ace should undertake an aggressive marketing campaign upon entering the market in order to create brand awareness using ‘Coming soon† promotions to build up the hype of the store. Ace should engage with local business advisors in Bahrain to help guide them with cultural differences and deal with government legislations and regulations. Ace should undertake further Exten sive research to gain a better understanding on aspects of the Bahrain hardware market and to know their potential competitors and their offerings more in order to price, promote and operate more effectively.