After Effects of Enron Scandal and Sarbanes-Oxley Act on...

Standard to most businesses is the idea that it is managements only responsibility in an organization to generate profits the best possible fiscal return for stakeholders. This template argues that the fiscal responsibility of the business is paramount, and sometimes ethics and moral tend to be pushed to the backburner (Savage and McEltory, 2005). This is particularly true when one adds the necessity of ethical responsibility from business professionals. The Enron Scandal, for instance, became a global call for accounting reform and clearly reduced the publics confidence in the corporate environment. Briefly, Texas-based energy company Enron used one of the nations most prestigious accounting firms, Arthur Anderson. Enron employed over twenty-thousand people and had revenues over $100 billion. Forbes magazine called the company one of Americas Most Innovative for five years. However, a company whistle-blower told Federal regulators that much of Enrons reported data, signed off on by Anderson, was false.Essentially, Enron reported sales incorrectly, thus the balance sheet showed profits that were false, but increased the organizations stock price and value. Because of the scandal, both companies filed for bankruptcy. The case was so well publicized that the name Enron is now synonymous with scandal, corporate greed, and dishonesty in accounting (Bryce, 2002; Peregrine, 2011). As a direct result of the ENRON scandal, the United States government began to pressureShow MoreRelatedCorporate Scandals And The Implact Of The Sarbanes Oxley Act1472 Words   |  6 PagesA LOOK AT CORPORATE SCANDALS AND THE IMPLACT OF THE SARBANES-OXLEY ACT OF 2002 I. INTRODUCTION An economic boom filled with fraud, collapsed in the early 2000s with the unravelling of Enron in October 2001 followed by the implosion of WorldCom and many others big corporations. The downfall of these major companies led to a wide spread crisis of confidence in the financial markets. A crisis caused by executive greed was able to be magnified when the gatekeepers, the auditors, lawyers and analystsRead MoreThe Sarbanes Oxley Act Of 20021614 Words   |  7 PagesThe Sarbanes-Oxley Act of 2002 (SOX) was enacted to bring back public trust in markets. Building trust requires ethics within organizations. Through codes of ethics, organizations are put in line to conduct themselves in a manner that promotes public trust. Through defining a code of ethics, organizations can follow, market becomes fair for investors to have confidence in the integrity of the disclosures and financial reports given to them. The code of ethics include â€Å"the promotion of honest andRead MoreThe Sarbane s Oxley Act ( Sox )1604 Words   |  7 Pagesreporting has gained substantial attention from the public after the scandals of many high profile companies in the 21st century. Periodic cases of financial statement fraud raise concerns about the credibility of financial reports and are as a result of problem in the capital markets, a dropping of shareholder value, and, the bankruptcy of the company. Thus, to respond to the public pressure over acts of corporate offense, the Sarbanes-Oxley Act (SOX) was enacted in 2002. SOX proposed major changes toRead MoreSarbanes Oxley Act Research Paper1787 Words   |  8 Pagesï » ¿Sarbanes Oxley Act Research Project Brielle Lewis MBA 315 March 6, 2014 I. Abstract The purpose of the Sarbanes-Oxley Act is to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities law, and for other purposes. (Lander, 2004) The Act created new standards for public companies and accounting firms to abide by. After multiple business failures due to fraudulent activities and embezzlement at companies such as Enron Sarbanes andRead MoreSarbanes-Oxley Research Paper2807 Words   |  12 PagesSarbanes-Oxley Act of 2002 Research Paper Imagine over $60 billion of shareholder value, almost $2.1 billion in pension plans, and initially 5,600 jobs - disappeared (Associated Press, 2006). One would have to wonder how that is possible. These are the consequences the investors and employees of Enron Corporation endured after the Enron scandal started to unravel. This paper will focus on the infamous accounting scandal of Enron Corporation. It will also discuss how the company wasRead MoreThe Impact Of Sarbanes Oxley Act On Public Companies And The Market1336 Words   |  6 Pages The affects of the Sarbanes-Oxley Act on Public Companies and the Market Shareen Sidhu University of Maryland University College The Affects of the Sarbanes-Oxley Act on Public Companies and the Market The Sarbanes-Oxley Act of 2002 was implemented and designed to â€Å"protect the interests of the investing public† and the â€Å"mission is to set and enforce practice standards for a new class of firms registered to audit publicly held companies† (Verschoor, 2012). During the early 2000 s, the worldRead MoreEffects Of Sarbanes-Oxley Act SOX Essay1860 Words   |  8 PagesABSTRACT This paper provides an in-depth evaluation of Sarbanes-Oxley Act, which is said to be promoted to produce change in the corporate environment, in general, by stressing issues of public accountability and disclosure in the financial operations of business. It explains how this is an Act that represents the governments and the Security and Exchange Commissions concern in promoting ethical standards in terms of financial disclosure in the corporate environment. This paper addresses theRead MoreEffects of Sarbanes-Oxley Act1957 Words   |  8 PagesABSTRACT This paper provides an in-depth evaluation of Sarbanes-Oxley Act, which is said to be promoted to produce change in the corporate environment, in general, by stressing issues of public accountability and disclosure in the financial operations of business. It explains how this is an Act that represents the government s and the Security and Exchange Commission s concern in promoting ethical standards in terms of financial disclosure in the corporate environment. This paper addresses theRead More Sarbanes Oxley Act of 2004 Essay1713 Words   |  7 PagesSarbanes Oxley Act of 2004 The Sarbanes-Oxley Act of 2002 was signed into law on July 30, 2002 by President Bush. The new law came after major corporate scandals involving Enron, Arthur Anderson, WorldCom. Its goals are to protect investors by improving accuracy of and reliability of corporate disclosures and to restore investor confidence. The law is considered the most important change in securities and corporate law since the New Deal. The act is named after Senator Paul Sarbanes of MarylandRead MoreThe Quality of Financial Reporting After the Passage of Sarbanes-Oxley a2946 Words   |  12 PagesResearch Proposal The Quality of financial Reporting after the passage of Sarbanes-Oxley Act Dr. Hassan Ahmed Assistant Professor at Cameron University       Abstract The complexity of business environment necessitates a set of required disclosures in a timely fashion. The full disclosure principle under U.S. GAAP is based on a vague definition that cannot be clearly implemented. The cost of disclosures can be significantly large and can have a negative impact on companies’ future earnings

The Wild And Ambitious Journey Of Chris Mccandless

Into The Wild Analysis Alexander Supertramp: Personification of Courage The story Into The Wild details the spiritual and ambitious journey of Chris McCandless. Chris McCandless is depicted by the author Jon Krakauer as an individual who grew tired of the social perceptions and all the flavorless interactions that occupied it. Despite the career path that was laid in front of him, McCandless sought something more than what materialism had to offer; He sought enlightenment. Due to the cause that was larger than himself, Chris McCandless was righteous in his actions and people should follow in his footsteps to a lesser extreme. Chris McCandless is the last person one would expect to jump off the dotted line. He had a strong foundation. His family prioritized higher education and had the financial means to let McCandless follow his dreams. In fact, he was able to graduate college debt free due to donations and scholarships. â€Å"The final two years of his college education had been paid for with a forty th ousand-dollar bequest left by a friend of the family’s; more than twenty-four thousand dollars remained at the time of Chris’s graduation, money his parents thought he intended to use for law school† (Krakauer 20). McCandless had all the resources to pursue a professional career, but instead he chose something that he found more beneficial. The details surrounding Chris McCandless are essential because they help the reader understand exactly how important this cause wasShow MoreRelatedInto the Wild: Chris McCandless is a True Hero970 Words   |  4 PagesThe famous story of Chris McCandless’s journey, Into The Wild, provokes the reader to ask a certain question at the end of it all: Is Chris McCandless someone people should look up to? Or is he just another person who bit off a little more than he could chew? With various accounts from people who met this young man in the novel, it’s hard for someone not to show bias on this topic. Many viewed him as brave and heroic for his accomplishments; others viewed him as an unpreparedRead MoreInto the Wild: Individuality Essay1630 Words   |  7 PagesInto the Wild People are often told to be themselves as a way of embracing their uniqueness. This seems to not be true since conformity and lack of individualism is a big issue with society. The issue of what led Christopher McCandless, main character from Into the Wild by John Krakauer, to go on a search to find himself. In the author’s note of the novel, Krakauer introduces the term ‘schools of thought’. In the case of this book, there are two; one being that some people said it was a suicideRead MoreChris McCandless is a Tragic Hero1005 Words   |  5 Pages In what could have been Chris McCandless’s last contact with humanity he tells his new comrade, Wayne Westerberg, â€Å"If this adventure proves fatal and you don’t hear from me again I want you to know you are a great man. I now walk into the wild† (Krakauer 3). For 112 days Chris lived off the harsh Alaskan land. For anyone who is brave enough to travel on the stampede trail and cross the treacherous Teklanika River you will come across the Fairbanks City Transit System Bus 142. Once a backcountryRead MoreInto The Wild By Chris Mccandless1989 Words   |  8 PagesIn April of 1992, a young man of the age of twenty-four, later determined to be Chris McCandless body, was discovered in an old Fairbanks bus in the Alaskan bush. Four years after his death, Jon Krakauer wrote a novel titled Into The Wild, the book traced McCandless s journey around much of the United States, across the West side of Canada, and even down to the boarder of Mexico. Over the many years since his death, speculations have arisen about how death was brought upon him. Most believe starvationRead MoreUnraveling The Enigma Of Christopher Mccandless1435 Words   |  6 PagesUnraveling the Enigma of Christopher McCandless Throughout the novel, Into the Wild, Jon Krakauer sincerely disentangles the haunting enigma of Chris McCandless. By tracing the places, people and experiences intertwined in the life of McCandless, Krakauer narrates the life story of a puzzling corpse found in a bus buried in the Alaskan frontier in a truly authentic way of storytelling. Although Krakauer inserts direct quotes from people who McCandless came into direct contact with and experts fromRead MoreInto the Wild: Chris McCandless as Role Model Essay964 Words   |  4 PagesThere had never been and there would never be someone exactly like Chris McCandless. Chris has a middle class background and stands out from his peers because he believes that society restrains his independence. He leaves his past life and wanders America heading toward the lonely Alaskan wilderness to find who he really is. He discovers ways of moving to Alaska despite leaving behind all of his possessions and social status. Chris’s sincerity and integrity earn the respect of the people he meetsRead MoreInto The Wild By Jon Krakauer1642 Words   |  7 PagesChristopher McCandless may be one of the most intriguing characters in nonfiction literature. In Into The Wild by Jon Krakauer, Chris McCandless gives up all of his worldly possessions in order to move to Alaska and travel alone into the wilderness. Chris seemed to lead a very privileged life, as he came from a fairly well off family. Chris was intelligent, having graduated from Emory University with a degree in anthropology and history. There is much ambiguity as to why Chris suddenly decidesRead MoreAvoiding The Possessive Shadow Of Society1851 Words   |  8 PagesIn his book Into the Wild, Jon Krakauer writes about Christopher McCandless, who did anything but live in society’s large and possessive shadow. Chris broke free from society’s chains and lived his life with adventure despite the numerous people telling him to stop. Into the Wild by Jon Kr akauer focuses on Christopher McCandless and his mysterious decision to live on the road. Starting with the discovery of Chris s body in Alaska, the book goes back to the start of his journey following him aroundRead MoreChris Mccandless s Into The Wild1080 Words   |  5 Pagesthe Wild, Chris McCandless was oblivious to the external world. He was raised from a wealthy family from the Washington D.C region. Chris has been a man who wanted to create a divergent life for himself by making the decision to travel around the Alaskan Wilderness. Why would he be so selfish to throw away his fortunate life? He did not take his life for granted, he just found his personal individual passion. An adventurous soul should not be contaminated by negligence to find his/her journey. ChrisRead MoreReview Of Into The Wild By Jon Krakauer Essay2060 Words   |  9 Pages I just finished reading a book called Into the Wild. It is about a man named Chris McCandless who decides to give up all his poss essions and money, abandon his family, and embark on a journey to live in the Alaskan wilderness where he is found dead. Jon Krakauer, the author, explains McCandless’s cause of death, starvation. However, he does not explain what persuaded him do all the extreme behaviors he did. Therefore, we will analyze the concept of a dysfunctional family and see how it led him

Investigation of Market Efficiency Stock Market

Question: Discuss about the Investigation of Market Efficiency for Stock Market. Answer: Introduction An Efficient market is one where all the necessary information of companies shares price is disclosed to public for the benefit of investors. The information could be related to finance, political, social or economical that assists in procuring maximum expected return for the investors (Yalcin 2016). There have been three degrees that determine the degree of market efficiency i.e. strong, semi- strong and weak forms. The report presents the comparison between the forms of market efficiency and indications to achieve equilibrium on semi- strong market efficiency. Semi- strong market efficient Semi- strong structure of efficient market hypothesis signifies the efficiency of market that reflects all the information is publicly available. Under this form of market hypothesis it is considered that all the public information can be determined in a securitys current market price. In order to achieve the superior gains on the shares price, fundamental or technical analysis are not required to be used. All the information in semi- strong market is accounted as the shares price for the benefit of investors (Westerlund, Norkute and Narayan 2015). Comparison between weak and strong forms to semi- strong Weak form in the efficient market hypothesis does not assist in predicting the present stock prices based on the past share prices. Weak form of the efficient market focus on the determination of prices through technical analysis as well as independent identification of rates of return (Said and Harper 2015). On the contrary, strong form of efficient market hypothesis reflects efficiency of market since the information on public and private can be determined. It is assumed that the strong form of market efficiency provides all the information about the shares price and therefore investors would not be able to earn profit more than the average rate of return (Potocki and Swist 2015). Considering the market regulations in London, Brexit market the price of equity shares reflected a fall of around ten percent that had a direct affect on the economy. Decline in the exchange rate with respect to the Brexit market resulted in increase of inflation in the economy of the country. However, in case of New York market that has evolved in the financial market over two decades constitutes the most active trading floor with advanced technology and human judgment effort. The stock exchange of New York protects the capital of listed companies and expected return of the investors (Rahmanizadeh and Mahesh 2015). The fall in the financial market in the Brexit period indicated the weak for on market efficient hypothesis that affected the capital benchmark of the listed companies at a rate of 5% - 7% approximately. General Consensus on calling London and New York semi- strong Due to the inefficient financial market during the Brexit period, the investors and companies suffered abnormal returns. Several listed companies planned to delist from the New York Stock Exchange, which reflected fall in exchange rates, equity share prices and capital benchmark (Westerlund, Norkute and Narayan 2015). In the year 2006, certain companies experienced market regression that was influenced by the cross-listing companies to measure the corporate valuation along with the invested capital. Since the semi- strong form of market hypothesis reflects public information for determining the stock prices, New York Stock exchange companies valued their business by using earnings before interest and taxes, amortization and depreciation. Other elements that affected the companies valuations are government practices, liquidity earnings per share, net asset values that varies from country to country (Verheyden, De Moor and Van den Bossche 2015). Requirements to achieve equilibrium and complete semi- strong efficiency It is essential to achieve the equilibrium to the semi- strong form of market efficiency as it reflects all the necessary public information about the companies. Accordingly, the financial markets need to be transparent that reveals public information to determine the stock prices and to earn maximum returns for the benefit of investors. To form a transparency in the financial market for the listed companies, Sarbanes- Oxley Act had been formed to prepare and recognize the companies financial information in transparent, true and fair view (Yalcin 2016). Additionally, complete semi- strong market efficient hypothesis requires the flow of information should be instant and equal with respect to the financial position of the companies, asset valuation and business policies. It is also important for the companies to present and reflect the transactions at true and fair means along with the proper disclosures on each valuation. Further, the companies are required to reflect the sustainability measures and corporate policies to present the complete information for the benefit of investors and to achieve the equilibrium semi- strong market efficient (Rahmanizadeh and Mahesh 2015). Conclusion Considering the given requirements on complete achievement of the semi- strong form of market efficient hypothesis, most of the companies are taking measures on preparing and presenting the financial information in transparent manner. Companies are following the requirements of International Financial Reporting Standards and the stock exchange to provide the complete information to the investors. Organizations have taken step to present the sustainability and corporate governance report to the investors to reveal the necessary measures taken by them for better business operating activities. Reference List Potocki, T. and Swist, T., 2015. Empirical test of the strong form efficiency of the Warsaw stock exchange: the analysis of WIG 20 index shares.South-Eastern Europe Journal of Economics,10(2). Rahmanizadeh, F. and Mahesh, R., 2015. Investigation of market Efficiency: An event study of Insider Trading in the Stock Exchange of India.Asian Journal of Research in Banking and Finance,5(5), pp.22-34. Said, A. and Harper, A., 2015. The Efficiency of the Russian Stock Market: A Revisit of the Random Walk Hypothesis.Academy of Accounting and Financial Studies Journal,19(1), p.42. Verheyden, T., De Moor, L. and Van den Bossche, F., 2015. Towards a new framework on efficient markets.Research in International Business and Finance,34, pp.294-308. Westerlund, J., Norkute, M. and Narayan, P.K., 2015. A factor analytical approach to the efficient futures market hypothesis.Journal of Futures Markets,35(4), pp.357-370. Yalcin, K.C., 2016. Market rationality: Efficient market hypothesis versus market anomalies.European Journal of Economic and Political Studies,3(2), pp.23-38.

Individual Research Report Customer focus Business Studies and Busine

Question: Explain about Individual Research Report and Create a Essay on Customer focus Business Studies and Business. Answer: Introduction In this current world, the effectiveness of commercialisation is much prominent. Each of the companies is trying to upgrade the marketing efficiencies in order to participate in this business competition. According to De Mooij (2013), addressing the customers needs is considered as the key to achieve the success for each of the business companies. Hence, it is important to keep the focus on the basic demands of the customers and provide them the expected products or service (Deshmukh Mohan, 2016). If the customers are satisfied with the outcome, it would be effective enough in generating the profits. Apart from such requirement, the business companies even need to recognise the market needs. The study would be discussing the market analysis of Zara, Singapore. The identification of the market and customer needs would be presented. Apart from this, the analysis of the competitive scenario would be discussed. In addition to this segment, the STP analysis of Zara would be incorporated in this study to obtain the idea about the current market segment. Recognition of such basic segments would be helpful enough in establishing several suitable recommendations further. Background of the Organisation Zara, one of the largest international fashion companies is a part of Inditex, which is considered as the largest distribution group. The target group of Zara is generally the young aged people who are extreme sensitive about their style segments. The vision of the company is to satisfy the consumers by identifying their needs and demands. The mission the company is to implement the efficient business models to ensure the sustainable development (Zara.com, 2016). The company is much focused on providing the improvised customer experience, which would be beneficial for the future (Marinabaysands.com, 2016). The major selling products of Zara are the footwear, accessories for men and women, apparel, and fashionable clothes. However, keeping the concentration on this current market competition, it is noted that the company has to face various challenges. The product variation is the most necessary segment that each of the companies needs to be followed. However, it is required to identi fy the exact issue that is creating effects on the competitive position of the organisation. The study will be recognising such issues and accordingly will be justifying the relevant strategies for the further development. Identification of the Customers need, want, demand, product, and market It is to be noted that Zara, Singapore is mainly focusing on the people of young age group. The company has been providing the fashionable clothes, fashion accessories, and shoes for both the men and women. Needs: While establishing the business in a place, it is required to understand the market segments and the needs of the customers. The customers are the major external stakeholders who buy the products or services from the company. The customers mainly perceive for the high quality materials in reasonable rate. Cortez et al. (2014) implied that the products or the services are the key aspect, which leads to the business success. The customers attitude depends on their experiences shared while using the products offered by the company. Moreover, undertaking the proper promotional process is also required to attract the customers attention. If the company is able to satisfy the expectation level of the customers, it would be beneficial in strengthening the competitive position (Mo, 2015). Hence, the most important aspect is to recognise the needs and demands of the customers. Want: Similarly, Zara needs to focus on the customers demands at the first place. It is seen that in Singapore, the fashion segment of the society is much influenced by the traditional approaches. The young customers are much attracted towards the various designs of the clothes. Zara have always put the customers preferences at the first place. Therefore, the company has prioritizes the wants of the customers. Accordingly, Zara has been concentrating on engaging the innovative ideas and designing the fashion clothes considering the latest trends. Demand: The customers of Singapore are much fond of various style segments. The lack of the product variation is the major reason behind the influence of the traditional approaches. Zara is one of the leading international companies that is introducing different fashionable segment. The customers usually purchase the products by specifying their requirements (Elahi, 2013). Hence, while undertaking the business procedure, Zara needs to identify the exact demand of the customers. Zara has focused on providing the fashionable garments, accessories, and shoes to the people of young age group. Therefore, the company needs to recognise the actual types of the fashion styles that will be preferable to the customers. For example, the target customers of Zara are the city dwellers who demand for the current fashion trends. Moreover, the repeated changes in the needs are also much challenging for the company. The spontaneous fashion needs foreseen among the city dwellers are thus difficult to attain sometimes (He, 2012). The customer satisfaction is possible if the company manages to fulfil the needs of the current competitive world. Market: The recognition of the market is also much essential. If the company requires offering the innovative style segments to the customers, the identification of the market is much necessary. In this particular case, Zara has been operating the business in Singapore market. Therefore, it is noted that the style of the local people is much influenced by the eastern culture. Accordingly, Zara has focused on designing the fashion clothes by considering the trends in the Singapore market. Orientation of Zara towards the market place Zara is renowned as one of the leading internationalised fashion retail companies. This Spanish company has been operating in 59 other countries. The business model developed by Zara depends on the two major aspects. The first aspect considers the time factor whereas the second aspect determines the source of information. This source of information is necessary to be concentrated as it signifies the customers orientation. The major aim of the company is to satisfy the needs and demands of the customers by delivering them the unique fashion products. Even while establishing the business in the Singapore market, the company has been adopting the market demands in order to achieve the customers expectation level (Kim Lee, 2014). Apart from the delivery of the products, the company has been concentrating on the customer service as well. Zara has been focusing on the best pricing strategy, which is determining a fixed price for the target customers. In such cases, the entire budget inclu des the cost of production, materials, and suppliers. In considering the international market orientation, Zara has undertaken the effective internationalised marketing strategy. One of the marketing managers of Zara stated subsidiary companies had to be a replication of the Spanish stores (Core.ac.uk, 2016). Due to such approach, the company has encountered many of the challenges and faced various difficulties. It is not easy to establish the traditions of Spanish people in Singapore market. The matter of acceptability is the most important factor for Zara. Therefore, the company has concentrated on the geocentric orientation, which will be beneficial for the company to adopt some of the local facilities (Rossi, 2013). In order to increase the sales ratio; the achievement of the customers expectation is required. The obtained idea from the other discussion is indicating that Zara has become much focused on increasing the production. If the company can improve the production, it would be easier to present the innovative style segments t o the customers. In fact, the customers can even select their suitable style segments among the varieties of products. The higher amount of productivity would be effective enough in satisfying the needs of the customers accordingly. Major issues faced by Zara It is noted that in order to strengthen the competitive position, Zara has been adopting different types of marketing strategies (Businesscasestudies.co.uk, 2016). Accordingly, the company has to face several difficulties, such as the threats of the competitors, level of competition, and political issues. In the initial stage, the innovative strategies were not promoted through the traditional media channels. In this current business world, many of the companies have captured the significant market place without even promoting any marketing campaigns (Kennedy, 2013). This competitive scenario is specifying the less chances of growth for Zara in Singapore. In such cases, it is required to adopt the traditional media or the effective marketing campaigns to resolve the issues. In fact, the company would be able to earn more market share through the effective promotions of marketing campaigns. In order to compete in the Singapore market, Zara needs to pay attention towards the needs and desires of the customers. It is noted that Zara has been trying to design the clothes by considering the traditional needs. However, in some of the cases, it is seen that the target customers seek different style segments. The company thus faces the potential challenges in switching to another design. For example, the customers in Singapore are much interested in readymade products with bright colour. Hence, while designing the fashionable clothes, the company needs to consider such requirements of the customers. Maintaining the traditional touch is thus necessary while dealing with the customers of the local place (Wong Yazdanifard, 2014). Another most significant issue that Zara face is the threats of the other competitors. The presence of other international brands is challenging enough for the company. Due to such competitive scenario, the company needs to ensure some of the unique des igns of the clothes that can draw the attention of the customers. The accessibility to the required resources is essential (Lea-Greenwood, 2013). The company faces the difficulties to access the necessary resources. The repeated and constant changeable demands of the customers thus become the major concerns for the company. The extensive competitions in the market and the presence of diversified local competitors are also considered as the potential threats for Zara. Most of the companies follow the innovative market strategies to strengthen their competitive position (Fernie Grant, 2015). Issues with Segmentation, Target Market, and Positioning Segmentation: In considering the market segmentation of Zara, the demographic segmentation is needed to be analysed. The demographic segmentation of Zara indicates the target customers who belong to the age group of 18-40 years. The customers have the mid-range of income and they are much interested in fashion trends. Zara has set their lifestyle segmentations, which include the small sized customers and plus sized garments. The company is much focused on the hectic lifestyle garments (Kotler et al. 2015). It is noted that the company has been facing the major challenges with the cultural traits in Singapore. Whereas Zara is much focused on the hectic lifestyle with the current fashion trends, the country is influenced by the traditional approaches. The conflicts between the traditional style and the current fashion trends have become much prominent. Accordingly, Zara has been facing the extreme challenge in such cases. Target and Positioning: Zara has implemented the relevant business model to fix the target customers and market positioning aspect. While structuring the business model, it is important to keep the focus on the major factors. These factors are as follows: Customers: The customers are the major stakeholders that determine the successive business position in the competitive market. It is to be noted that the fashion garments and accessories offered by Zara is generally customer oriented. The promotions of the brand are essential to gather the customer support (West, Ford Ibrahim, 2015). While establishing the business in the foreign market, it is important to provide the proper customer service. The arrangements of the frequent marketing campaign would be beneficial in gathering the customers attention towards the brand. Customers feedback is the most required aspect that can strengthen the organisational position. However, it has been seen that the business strategies undertaken by Zara do not include the promotions through the media channels. Hence, the company gets the lesser chance to identify the customers needs. It may thus affect the customers interests. Store: The specified location of the Zara store is needed to be considered. The store location determines the linking between the customers interests and the offers received from the company. If Zara can pay the attention in establishing the stores in the customer oriented location, there will be no need of undertaking the marketing campaigns (Robles Hassan, 2015). It is seen that Zara has been facing most of the challenges in selecting the proper location for the stores in Singapore. The super market area, which is associated with the shopping malls, would be beneficial for opening the stores. The selected target customers often visit the place and can pay the attention towards the fashionable garments offered by Zara. Designs and Products: Another major concern of Zara is to pay attention towards the proximity of product facilities and the reaction of the customers. The company usually focuses on the quantity of the products and associates for delivering these products. Therefore, the company is trying to appoint 1000 suppliers and organising almost 200 designer shows. It has been signified that there are almost 600 million garments are distributed per year (Kim, 2013). However, while establishing the stores in Singapore, it is important for the company to analyse the feasibility of the fashion garments and accessories. The high traditional country like Singapore may not accept the hectic style segment of the company. In such cases, it is required to identify the customers; requirements before designing the fashion garments. The above discussion based on the segmenting, targeting and positioning has been signifying some of the recognisable issues. The major issue has been found in understanding the customers demands, which is constantly changing. The second issue is specifying the acceptability of the different traditional wear in Singapore market. Another issue is considering the proper locations for the stores. In addressing such issues, some of the preferable recommendations are presented further for Zara. Recommendation The discussion based on the market position of Zara in Singapore is signifying several issues. It is true that each of the organisations try to implement the innovative strategies to strengthen their position in the competitive market. Satisfying the customers needs is the key to achieve the business sustainability in such cases. The internationalised brand Zara has captured the market positions in many countries. However, Singapore is a country where the traditional aspect is completely different. Hence, it is quite clear that the company ought to face the above mentioned challenges. The business success depends on the satisfaction level of the customers. In such regards, the major criterion is to identify the customers needs. The current business model developed by Zara is mainly focusing on introducing the innovative designs of the fashion garments. However, the possibilities of rejecting the designs by the customers are much prominent, as Singapore is a country with different cultures. In such cases, it is important to identify the basic needs and demands of the customers. If the company can undertake the proper marketing campaign to promote the brand, it would be beneficial to extend the brand awareness among the target customers. In fact, the customers can provide their feedback regarding their requirements. Hence, it would be fruitful for the company to arrange the marketing campaigns in order to understand the customers demands. Another most significant strategy is to structure the pricing scale. The economic structure in Singapore is quite beneficial for the business. However, if the company has been focusing on the customers with mid-range of incomes, it is required to set the proper pricing structure. The cost differentiation would therefore attract more customers in taking interests on the fashion garments offered by Zara. Apart from this, the arrangements of the fashion shows would also provide some benefits to the company. If the customers attend such fashion shows, they can be well aware of the current trends. Conclusion The study has been analysing the issues associated with the marketing procedure of Zara in Singapore. The issues associated with the target market, segmentations, and positioning have become much prominent. The identification of the customers needs is the basic requirement for strengthening the business position. The threats from the existing competitors are also major concerns for the company. However, the arrangements of the proper marketing campaigns and fashion shows would be beneficial for promoting the brand. Accordingly, the company would be able to strengthen their competitive position in the business market of Singapore. References Businesscasestudies.co.uk, (2016). Customers needs Customer focus business studies and business english | Business Case Studies. [online] Businesscasestudies.co.uk. Available at: https://businesscasestudies.co.uk/business-theory/marketing/customers-needs.html#axzz4Fg9Hgwfp [Accessed 27 Jul. 2016]. Core.ac.uk, (2016). Internationalisation of the Spanish fashion brand Zara [online] Available at: https://core.ac.uk/download/files/14/334655.pdf [Accessed 27 Jul. 2016]. Cortez, M. A., Tu, N. T., Van Anh, D., Ng, B. Z., Vegafria, E. (2014). Fast fashion quadrangle: An analysis.Academy of Marketing Studies Journal,18(1), 1. De Mooij, M. (2013).Global marketing and advertising: Understanding cultural paradoxes. Sage Publications. Deshmukh, A. K., Mohan, A. (2016). Demand Chain Management: The Marketing and Supply Chain Interface Redefined.IUP Journal of Supply Chain Management,13(1), 20. Elahi, E. (2013). Risk management: the next source of competitive advantage.Foresight,15(2), 117-131. Fernie, J., Grant, D. B. (2015).Fashion Logistics: Insights Into the Fashion Retail Supply Chain. Kogan Page Publishers. He, N. (2012). How to Maintain Sustainable Competitive Advantages-----Case Study on the Evolution of Organizational Strategic Management.International Journal of Business Administration,3(5), 45. Kennedy, B. (2013). Retail Marketing Theory In Fashion Retailing Context. Kim, B. (2013). Competitive priorities and supply chain strategy in the fashion industry.Qualitative Market Research: An International Journal,16(2), 214-242. Kim, G., Lee, S. (2014). Business Strategy of Fast Fashion-A Case Study of Zara.Journal of the Korean Society of Clothing and Textiles,38(2), 175-190. Kotler, P., Burton, S., Deans, K., Brown, L., Armstrong, G. (2015).Marketing. Pearson Higher Education AU. Lea-Greenwood, G. (2013).Fashion marketing communications. John Wiley Sons. Marinabaysands.com, (2016). Zara | Singapore Shopping | Marina Bay Sands. [online] Marinabaysands.com. Available at: https://www.marinabaysands.com/shopping/zara.html [Accessed 27 Jul. 2016]. Mo, Z. (2015). Internationalization Process of Fast Fashion Retailers: Evidence of HM and Zara.International Journal of Business and Management,10(3), 217. Robles, F., Hassan, S. S. (2015). Reaching Global Market Segments with Direct Marketing. InProceedings of the 1991 Academy of Marketing Science (AMS) Annual Conference(pp. 140-143). Springer International Publishing. Rossi, C. (2013). Speed as competitive advantage: the Zara case. West, D., Ford, J., Ibrahim, E. (2015).Strategic marketing: creating competitive advantage. Oxford University Press. Wong, K., Yazdanifard, R. (2014). How Fast-Fashion Apparel Stores are able to Operate Sustainably in New Global Economy.Journal of Research in Marketing,3(2), 274-278. Zara.com., 2016. Company-+ Info | ZARA India. [online] Zara.com. Available at: https://www.zara.com/in/en/info/company-c11112.html [Accessed 27 Jul. 2016].

Globalization and Technology Changes free essay sample

Assess how globalization and technology changes have Impacted the corporation you researched. The company researched was universal Music Group because the music industry is ever growing and I wanted to know more about the company. As we all know, technology has been a major part of the music industry both good and bad. Technology has helped plenty of artists and hurt others. Since the introduction of the MPH and the popularity of the POD device, compact disc sales have declined and more music is being released without the record compass permission.Some may IEEE this as a major problem to the other major record labels that distribute music globally. But some are using the MPH to their advantage. A while ago an artist could not walk out of a studio and release a record in ten minutes. Now artists can get the music to their fans In record time and the fans can then download the song a lot faster than a drive to the local record store. We will write a custom essay sample on Globalization and Technology Changes or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Overall sales are down In the music Industry, but according to sources Universal Music Group, the biggest of the worlds four major music companies, made the most money percentage and dollar wise from digital sales in 2008 (Lewis, 2009).Because its believed that music is a global language, universal Music Group makes money from all across the world. The company has artists and labels from multiple countries that are very successful in generating record sales. There are American artists that were at a point in their careers where their music was not selling as it once was, but now they are touring overseas. Technology and globalization have been a driving force in the music industry and Universal Music Group is reaping the benefits of both.It took the major labels a long time to embrace the digital age of music and they almost missed out on major money. Universal Music Group Is thriving In a declining music industry that has gone from analog to digital right before our eyes. Apply the industrial organization model and the resource-based model to determine how your corporation could earn above-average returns. By using the Industrial Organization model to earn above-average returns, universal Music Group will have to use the four underlying assumptions.First, the company will have to study the current state of the music industry and the economy as well. A struggling economy will bring record sales down, because people are budgeting their income a lot tighter and music will not be mongo one of the items they need to purchase. If people do not have enough money to purchase the music, chances are they will find other ways to get the audio through illegal links or burning compact discs. A struggling music Industry can be caused by a bad economy, but another key factor is poor music quality. If the music is not good, then chances are the songs will not get purchased. Sales have been on the decline In recent years due to technology advances and lack of artist development Is the mall problems to this epidemic. The labels have been putting out manufactured music for he past few years and the consumers are unhappy. The next step Is for the label to label company has a fair share of stars that can generate sales, so these releases need to be timed properly. Thirdly, the strategy must be selected for these stars to succeed.The final step would be for upper management of the record label, to use their highest selling acts to increase profit potential and create new trends. Universal Music Group has to come up with a marketing plan that caters to each act separately and uses the assets of the company to push these artists as high as they can go up the charts. Using the resource-based model for above-average returns assumes that each organization is a collection of unique resources and capabilities. The uniqueness of its resources and capabilities is the basis of a firms strategy and its ability to earn above-average returns. Michael A. Whit, 2013) Universal Music Groups resources are identified as artists, labels, publishing companies, merchandising, and distribution. The strengths and weaknesses of the labels resources will be compared to the competition. The record label will then determine which set of resources should be used to perform the task of generating a profit. A key factor they will test is to make sure that they (Universal Music Group) will do better than the competition. Universal will have to research what areas it excels in oppose to the other major record labels.Next Universal will locate a demographic that is interested in the products they are delivering to the masses. Once the demographic is determined the label will implement the strategy of promoting the music through all media outlets including, but not limited to, television, radio, print, and live performances. That is how Universal Music Group can earn above-average returns. Assess how the vision statement and mission statement of the corporation influence its overall success. The vision statement of Universal Music Group is to be the worlds largest music content company.This is a key statement to the overall success of the company, because it sets the bar very high not only for the artist but the employees of the company as well. A vision is what the company wants to achieve; and Universal Music Group is the worlds largest music content company with market leading positions in recorded music, music publishing, and merchandising according to their website (Overview). The mission statement of Universal Music Group is the recorded music business discovers and develops recording artist and then markets and promotes their music across a wide array of formats and platforms.Mugs music publishing company, Universal Music Publishing Group, discovers and develops songwriters, and owns and administers copyrights to musical compositions for use in recordings, public performances, and related uses, such as films and advertisements. (Overview) The vision and mission statement work hand and hand, and creates a template for Universal Music Group to grow and flourish as a business. Evaluate how each category of stakeholder impact the overall success of this corporation. Capital market stakeholders are the shareholders and ma jor suppliers of capital to a company.The capital market stakeholders of Universal Music Group will want to see profits rise and risk decrease. They will keep the record label with the mentality that profits must increase or albums may not come out, or boutique labels under the Universal Music Group franchise will fold. The product market shareholders for Universal Music Group are the consumers who buy the music and go to the concerts. The consumers re the ones who actually pay all the bills for the corporation. These customers Nail hurt the overall sales at Universal Music Group.The organizational stakeholders are the employees at the labels and the artist signed to the labels. The artist expect for their music to come out and do well with the right marketing and promotion from the label. Each artist wants the labels attention on their product once released and success from the public. An artists success depends greatly on their music but also the fans. Not every artist will have a successful album or song. But, good sales errant the employees at that label company that they will have their Job and better career opportunities.

Summer Of The Seventeenth Doll Essay

Summer Of The Seventeenth Doll Essay Summer Of The Seventeenth doll has been regarded as both a masterpiece and as a turning point in Australian history. It has boosted Australian theatre to another level and genre of performance that Australian theatre would not have been able to achieve alone. The doll managed to astound audiences by its distinctiveness. It managed to explore situations and aspects that the audience had never before entered. It was stylistically new and different, which caused plenty of reactions by the audience that contributed to its phenomenal. Due to The Doll's success in relation to its uniqueness, it inspired many more playwrights to experiment with theatre styles, which proved to be advancement in Australian history. The Doll's success is evident to this day, due to the fact that its themes and issues still hold a relevance and importance in today's society. Indeed it is upmost accuracy to state that The Doll has expanded and advanced upon actors, directors and playwright's methods and styles o f acting in Australian Theatre up to this very day.Princess Theatre, Melbourne, AustraliaA brief tour through early Australian history will clarify just how much Significance and meaning The Doll contributed when it was first released. The early theatre in Australia was influenced by the happenings in other parts of the world. The early settlers from Europe strove to maintain the cultural traditions of the societies they had left behind, and in time, this became a big barrier for Australian theatre between originality and imitation. As the plays performed were imported from overseas, so the acting styles in Australia followed those that were fashionable in Europe. By the Nineteen Seventies, melodrama had become very popular in Europe and America. Most melodramas performed in Australia were adaptations of novels or plays that were once successful in England or America. Eventually melodrama aged and...

Modern dance Research Paper Example | Topics and Well Written Essays - 1000 words

Modern dance - Research Paper Example Modern dance is considered a synonym of contemporary dance. The two dances share ideological or aesthetical characteristics. The name is a dance term that is used to refer to a dance trend born in the 16th century and had lasted up to the 1950’s. The dance trend had its homes in Germany, the United States and some of the surrounding countries. In the 1920’s there was a passion for interpretive dancing sweeping America. Dancers and audiences alike had been introduced to a new form of theatrical dancing that was serious. Most of the groundwork had already been laid for the first generation of the modern dancers; they then began to develop the art to what we have presently today. Lester Horton attended early classes in ballet dancing together with the Native American dance. He did this at a school called Denishawn. In 1932, his first dance group appeared and over the two ensuing decades, the group became quite renowned. They had adopted an individual theatrical style and technique that had embraced the themes of the political and social protests as well as dressing. He choreographed projects that were commercial and created dances for the nineteenth film of Hollywood. Some companies such as Alvin American Dance Theater still teach his dancing style (Kassing79). At the end of World War II, the founders of the modern dance style had already produced a group of talented students whom they sent out to start their own dance styles. The great battle that has been fought over respectability and position of the modern dance style has been fought and won already. The second generation did not have to take their art or themselves with the seriousness that the founders had in the dance. Artists who were renown during the second generation of modern dance include artists such as pearl primus, Paul Taylor, Twyla Tharp and Josà © Limà ³n (Kassing 35). The artistic and social upheaval of the late 60’s and late 70 has signaled radical changes to modern dance. Today modern