Evaluate an International Expansion Strategy for Goya Essay

Goya, the biggest Hispanic-possessed organization in the United States, has set up itself as not only a well known brand of Hispanic food items yet in addition has become the market’s standard of value and intensity. Built up in 1936 as an import organization to gracefully the interest for bona fide Mexican and Spanish food, the organization is currently creating and building up its own items (Goya, 2007a). In spite of the broad rivalry from bigger food fabricating organizations and the opening of American markets by European and South American providers, Goya has had the option to keep up its market initiative and grow new items and markets (Goya Foods, 1999). One of the variables refered to for the proceeded with accomplishment of the organization is its advertising techniques with the Latino people group. Taking into account that the Hispanic people group and shoppers of Hispanic food items are relied upon to speak to 25% of the United State’s retail food showcase by 2050, this competency is one that different organizations might want to get for themselves (Hoffman, 2003, p. 5). The goal of this paper is to examine the natural advertising powers that Goya considers in building up its promoting procedures, how it describes various subgroups in its market and the benefits of growing its objective market to non-Latino customers. In doing as such, the paper will have the option to comprehend the points of view and bits of knowledge that Goya has utilized and has gotten instrumental for its prosperity (Riell, 2007). Ecological Forces Prioritized Among the six ecological powers talked about, normal, mechanical, political and lawful, monetary, serious, and socio-social, the last three that are considered the most in Goya’s promoting methodology. Despite the fact that different components are additionally thought of, they figure all the more fundamentally in the company’s corporate and activity techniques (Demetrakakes, 2003). Despite the fact that they don't straightforwardly identify with the company’s showcasing procedure, it ought to likewise be perceived that they can affect the market adequacy of the organization. In this way, Goya thinks about these ecological powers as significant elements to consider (Hoffman, 2003). Monetary Forces Financial powers are critical to the company’s showcasing procedure on account of its enthusiasm for retail advertises. The contextual analysis of the organization introduced by Hoffman brings up that since the Latino market will speak to a generous piece of the shopper advertise, they will apply more prominent interest for items and may in actuality move the market towards purchasers. Simultaneously, the size of the market will likewise expand its allure to new players just as showcasing prerequisites (Goya, 2007a). In this manner, it has been significant for the organization to set up itself as the debut selection of customers and to have an extraordinary delicate to the market. As indicated by Andy Unanue, CEO-in-holding up evident, the company’s affectability to the movements in buying power and the pace of passage of elective items has been basic. Schiantarelli’s (2005) study shows that the company’s affectability to macroeconomic factors in its significant markets permits it to augment financial development territories. In doing as such, the organization isn't just ready to sell itself but on the other hand can set up itself now and again where markets keep an eye on liberal. Michael (19980 that the technique of focusing on these creating economies additionally permits the organization to reposition its develop items or practice markets for specific items. Johansson’s (2001) see recommends that economy-related techniques in showcasing are basic in setting up long haul objectives. Moreover, the organization has additionally attempted to be touchy to the financial advancement in Latin America which beside being a significant market likewise is significant its gracefully chain. Latin American has had the option to expand its flexibly power in world markets and have required more significant expenses for their merchandise. Besides, there has been fundamentally greater portability in capital and exchange progression from the 1970’s (Bulmer-Thomas, 2006). This makes a test for the organization to be more financially savvy and just as market-situated in its methodology. The pattern has been effective in controlling expansion rates and permitted altogether more noteworthy job of the working class which, to Goya’s advantage, speaks to a critical main part of its market (Hoffman, 2003). Serious Forces Just as significantly, if not progressively pressing, is the expanding intensity in the market. As referenced, the size of the market is pulling in noteworthy enthusiasm from new players. New players extend from standard food fabricating markets just as immediate contenders (Demetrakakes, 2003). In spite of the fact that the organization has had the option to keep up its position, it assesses the opposition in the market to altogether increment. Goya sees the need to manage the section of bigger contenders with increasingly broad circulation channels and unmistakable brands (Goya, 2007a). The passage of new contenders likewise can incite a value war which can diminish the company’s net revenue and cutoff Goya as a specialty brand rather than its target to be a standard one. Johansson (2001) brings up that value wars have the capability of filtering advantage from makers and increase quality expectations. Despite the fact that this can make essentialness in the market, if contenders immerse the market, especially when the market doesn't extend relatively, at that point operational expenses can not be advocated. Waltuck (2005) raises concerns with respect to fracture of the market among the contenders which can make coordinations of surveying and getting to business sectors all the more testing. To react to these worries, Goya keeps up correspondence and relations with its market, following intently advertise inclination, socioeconomics, and psychographics just as relocation developments. This additionally fortifies the brand’s picture as a component of the Latino culture and character. The company’s conviction is that â€Å"Latinos like purchasing things they consider their own, that are authentic† (Hoffman, 2003, p. 35). Consequently the organization doesn't just depend carefully on the genuine nature of the item but on the other hand can keep up the apparent nature of the item which lies more outside the ability to control of the organization. Another component that can be improved by the procedure is the notoriety of the organization, a certainty which stretches out past the business execution Goya Maksimovic and Sheridan (2005) bring up this has additionally been progressively significant factors in the money related notorieties of organizations. On account of Goya, one of the reason’s for its collaborate achievement is its hang available, a reality that makes noteworthiness certainty for speculators as showed by the company’s rank among Forbes Top 500 organizations in the United States (Riell, 2007). On the other hand, this rating additionally fortifies Goya as a debut brand and makes pride among the Latino people group. Socio-Cultural Forces Considering that the company’s imaging is tied down on its being a Latino item, socio-social variables can be viewed as the most significant thought of the company’s advertising technique. As indicated by Johansson’s (2001) evaluation of Latin markets, there is incredible connection for family and social legacy that underlines religion, culture, network and convention. Social and family get-togethers are centered around strengthening these components and since these occasions include the readiness of conventional cooking, the interest for food fixings is similarly as significant. Goya’s see on Latin culture thinks about the advancement of character, social aptitudes and worth frameworks and special characteristics related inside subgroups because of topography, ethnicity or nationality. A review of Goya’s items shows that they are named utilizing customary names of items , accentuation on the conventional plans and exertion is made to create item varieties to oblige tastes (Demetrakakes, 2003). For instance, salsa items are offered in a few degrees of zest power or stew mixes (Goya, 2007b). This obliges for changes in arrangement of items dependent on conventions inside the Latino people group. Notwithstanding reacting to permanent features of the market, the organization has additionally gotten skilled in reacting to socio-social changes inside the network. Bulmer-Thomas (2006) brings up that Latin American markets are changing fundamentally on account of advancement and broadening of its business sectors to which he qualities changes on social elements. One of the most critical changes is in the job of ladies. Conventional Hispanic family units have been portrayed as the essential homemakers in this manner a large portion of the company’s items focused on ladies explicitly as opposed to today, items are intended to be more non-sexual orientation explicit. Another sign of the company’s affectability to the socio-social foundation of its demographic is in its endeavors to teach non-Latino clients to Latin culture. Most items have narrative data with respect to the source, way of readiness or social references of the item. This may likewise be a push to fortify Latin culture among on-customary or blended legacy families. In acknowledgment of the way of life and financial status of its market, Goya has additionally evolved moment or speedy planning items. This was a reaction to studies that most Latino families have moved to become double families just as a push to take into account easygoing feasting markets. Another reaction to changes in way of life is the improvement of solidified and low-sodium items. The previous has likewise added to expand the rack of readied and prepared to-eat items while the last is a reaction to clinical investigations of the Latino populace that demonstrated heart and kidney illnesses as significant wellbeing dangers (Johansson, 2001). This kind of valuation is again makes affectability and understanding to their objective market which reinfo

Production & Operations Management Essay Example | Topics and Well Written Essays - 1000 words

Creation and Operations Management - Essay Example Reasons for Quality Problem on Greasex Line There are a ton of inner elements that adds to the quality issues on Greasex line. This incorporates: (a) wasteful staff †the administrator that fills the hardware needs working involvement with running the apparatus gear, nearness of the administrator inside the site, and absence of continuous report; (b) the robotized filling hardware isn't only intended for Greasex line purposes and has no customary timetable for upkeep; (c) purchaser(s) don't have information on the nature of extra parts required for the gear; and (d) absence of testing on the impacts of formed can on the speed of filling or filling hydrodynamics from a high-forced filling head. Steps Hank ought to follow for Continuous Improvement Hank should execute a customary ongoing announcing from operator(s) of Greasex line to guarantee that important activities will be given to eliminate ‘down-time’ mistakes and standard upkeep for machine. Guarantee that powerful preparing on dealing with the hardware ought to be given by the organization. Urge buyer to manage administrators cautiously with respect to the specs of materials required. Set aside some effort to do research center tests on effect of formed jars on speed of filling machine, and so on). Register for circumstance loss of utilizing inconsistent robotized filling hardware for Greasex line.

Technology and Privavy - 636 Words

Technology and Privacy Name: Course: Institution: Lecture Date: The world today has modern technology that makes life easier and dependable on it. Technology claims a huge influence on many aspects of life: economic, social and political among others. There are both aesthetic and scientific dimensions towards technology in that those scientists and artists have worked single-handedly or together in the future and present-day like in making dimensional inventions. Although the technology has its positive on the human life, it also has its negative effects on humans. Over years now so many evils against humanity have cropped up socially, politically and even economically (Agre amp; Rotenberg 1998). Politically, people have pointed†¦show more content†¦Technology companies have also been confirmed to changing the advertising operations to advertising exchanges where they trade the users’ personal profiles to advertisers for marketing that is only beneficial to them. Sometimes the information is used in frauds for basis of overcharging or even turning down consumer applications like insurance firms. Technology has made it possible to trace back a user trail via viewing the history and cookies which retain data unless manually deleted. Personal records like medical records may also be revealed to unauthorised person or organisations during data breaches (Solove, 2004). Technology has been known to make among the biggest profits in the economy. Most of the success is associated with its significant and multiple advertising capabilities though theories of fraud have contributed in making money. Some technology firms practise target advertising where the user may have profiled in their sites giving out essential information that makes them a key target of the ad. Business is currently dependent on information technology for transactions. Though it may seem efficient, there is no guarantee of the consumers’ privacy especially in more individualized market transactions which require greater monitoring hence more information (Iyer amp; Samociuk 2006). In conclusion, technology has contributed significantly in invading the personal privacy through information breaches that may occur from social sites and

Ethical Issues Within The Pharmaceutical Industry Essay

In this paper, I will cover ethical issues within the pharmaceutical industry, present opinion on Direct-to-Consumer marketing by drug companies, determine the parties responsible for regulation of compounding pharmacies, PharmaCARE used U.S. law to protect its own intellectual property, summarize at least one current example of intellectual property theft, analyze the potential issues surrounding the death of John’s wife, and lastly present major arguments that John can claim as a whistleblower. Ethical issues within the pharmaceutical industry PharmaCARE created a wholly-owned subsidiary called CompCARE. This company became PharmaCARE compounding pharmacy to sell the drug called AD23 to individuals on a prescription basis and also used this company to avoid the Food and Drug Administration’s (FDA) scrutiny. The first problem that I see here is the company appears to have skipped all of the drug testings to determine if there are any problems with the AD23 drug. Instead the company jump on the idea that this drug might slow the progression of Alzheimer’s disease. But again, there is no medical research on the creation of the drug and also the research of any tests to support the safety of the drug and also the documentation of the slowing the progression of Alzheimer’s disease. Hence, why they avoided the Food and Drug Administration’s (FDA). Next unethical problem is CompCARE benefited from PharmaCARE’s reputation, databases, network s, and sales and marketingShow MoreRelatedEthical Issues Within The Pharmaceutical Industry Essay1297 Words   |  6 Pagescover ethical issues within the pharmaceutical industry, present opinion on Direct-to-Consumer marketing by drug companies, determine the parties responsible for regulation of compounding pharmacies, PharmaCARE used U.S. law to protect its own intellectual property, summarize at least one current example of intellectual property theft, analyze the potential issues surrounding the death of John’s wife, and lastly present major arguments that John can claim as a whistleblower. Ethical issues withinRead MoreThe Ethical Appropriateness Of Direct Consumer Advertising Of Drugs Essay1246 Words   |  5 Pagesjudgement on the ethical appropriateness of direct consumer advertising of drugs? I believe in the case where pharmaceutical companies are advertising with television commercials or paid advertisements within magazines are well within moral and good ethical standards. Consumers can choose to remain on the same television channel or read an advertisement within a magazine to become more educated about a specific pharmaceutical. However, in the case referenced in the article, where a pharmaceutical companyRead MoreDrug Development Essay1537 Words   |  7 PagesDrug development This entire section on drug development highlights concerns which are very particular to the industry. They therefore lead to the implementation of CSR activities which are also very industry specific, although aspects such as animal testing and ethics in research can be shared by other industries such as the cosmetics industry, or the medical device sector for instance. Need for RD and innovation Today, the need for RD and innovation is great, maybe greater than ever. In theRead MoreControversy in the Pharmacy Industry1142 Words   |  5 PagesThe pharmaceutical industry is a highly competitive business and its success depends on the sales and marketing of each particular drug. But more recently, there have been a rise in issues relating to the rapid growth of pharmaceutical use, spending for drugs and related concerns about drug prices, among many other issues relating to scandal with vaccinations. The pharmaceutical industry may have their issues, but there has been a lot of good to come from this industry when it comes to one’s healthRead MoreExpensive Pharmaceutical Products versus Cheaper Analogs894 Words   |  4 PagesThe major players of the pharmaceutical industry, producing expensive products, are under pressure of companies, producing cheaper analogs. The question is not only the high costs but also the high drug safety of these companies. Large â€Å"original† pharmaceutical companies argue that an imitation product cannot guarantee high drug safety and could harm the reputation of the original drug, thereby devalue it, and make it vulnerable to the market. Companies-producers of â€Å"blockbusters† are in an advantageousRead MoreEthical Issue in Pharmacy1618 Words   |  7 PagesEthical issues in the retail pharmaceutical industry: An analysis of the ethical dilemmas faced within Chaguanas Drug Mart Limited Abstract: The ethical duty of a pharmacy is to promote a patient’s best interest. However, certain obvious ethical issues will arise. Within any business involved in bulk purchasing the issue of unconscious theft will also occur. The following paper focuses on the application of ethical theories that supports as well as argues the behavior within Chaguanas Drug MartRead MoreCvs Sets High Standards For Csr Policies944 Words   |  4 PagesCSR policies. The strategy is build upon three key factors, which include building healthy communities, protecting the planet, and creating economic opportunities. It â€Å"is supported by strategic priorities and goals, and aligned with the CSR material issues we identified in 2013, a process that was informed by internal and external stakeholders† (CVS Health). One of the factors, which are also included in our CVS ´s mission statement, is to make healthcare accessible and affordable. The market reachRead MoreThe Medical Disaster Associated With Thalidomide Administration1319 Words   |  6 PagesStructurally, Thalidomide exists in an asymmetric chiral configuration when administered. This chirality (the ability of a compound to exist in more than one isomer or chemical structure) may have resulted in thalidomide having many unknown actions within the body, one of which was the severing of blood supply to limbs and other organs (anti-angiogenesis) in developing fetuses before the 6th week of development. According, to D’Amato et al (1994) experiments conducted post-thalidomide disaster showedRead MoreGsk a Merger Too Far1158 Words   |  5 Pagesmacro-environment surrounding the pharmaceutical industry. (9 points) * PESTEL analysis of the pharmaceutical industry: Political: Since the creation of healthcare insurance, companies have to conform themselves to two kinds of systems: 1) The universal system applied for example in France, with less demand in new technologies. 2) The very selective anglo-saxon system which is looking for high technologies, excluding people who can pay for treatments. As we know the industry have to work on growingRead MoreThe Medical Disaster Associated With Thalidomide Administration1231 Words   |  5 PagesStructurally, Thalidomide exists in an asymmetric chiral configuration when administered. This chirality (the ability of a compound to exist in more than one isomer or chemical structure) may have resulted in thalidomide having many unknown actions within the body, one of which was the severing of blood supply to the limbs and other organs (anti-angiogenesis) in developing fetuses before the 6th week of development. According, to D’Amato et al (1994) experiments conducted post-thalidomide disaster

Pestle Analysis of Singe pore Airlines†Free-Samples for Students

Question: Do Pestle Analysis Of Singepore Airlines. Answer: Introduction Singapore based reputed company who has built great reputation for superiority in consumer service is Singapore Airlines, also known as SIA, has gained much attention for its detailed and improved stand in designing strategic management. By giving consideration to all available sources of competitive advantage and establishing a well nurtured management system, the company has been able to survive the airline industry with gaining significance. SIA was commenced on 12 October 1937 with the incorporation of Malayan Airlines by the Ocean Steamship Company of Liverpool, Imperial Airways, and Straits Steamship Company situated at Singapore.(Singapore Airlines: Sustainability Report FY2016/17, 2017) The company was successful in expanding its business with technical assistance of British Commonwealth Airlines and IATA. The company started to schedule regular flights from Singapore to Kuala Lumpur and Ipoh to Penang. In 1957 the company became public after the fleet included Douglas DC-3s in large numbers and was named as Malayan Airlines. Again in 1963, with the formation of federation of Singapore, Sabah, Malaya, and Sarawak the company was renamed as Malaysian Airlines. Finally in the year 1966, when Singapore got separated from the federation, it renamed the company under Singapore Airlines and made its company high rise headquarters based in Singapore.(Singapore Airlines: Sustainability Report FY2016/17, 2017) Since its formation, the mission of the company is to provide with high quality transportation service and return utmost revenue to its stakeholders.(AYOB) Pestle Analysis Of Singepore Airlines With the help of PESTLE analysis; factors relating political, technological, legal, economic, social and environmental forces that affects the company externally but is relevant to the firm will be considered.(Frue, 2017) Politically, any airline industry is prone to government instability in the areas where it conducts its operation. For example, incidents of revolution in Arabian countries have led to curtailing of flight takeoffs in this region which had affected the cost operation of SIA. On the other hand opportunity that lies are most of the airlines carries National Flag of the country as its main carrier sign and represents the country itself and thus the government are likely to support them in all ways. Airline industry cannot limit its economic boundaries to its homeland and has to depend on various international economic conditions and are economic threat for the company. Other economic threat to SIA is growth in fuel rates as it composes main element in aircrafts and is used on regular basis in large quantity. Any rise in it can bring instability in the company operation directly or indirectly as if the overall economies of countries destabilizes it can affect the GDP of countries and hence people may become more concentrated in their expenditure for extensive travelling.(Jurevicius, 2013) Although SIA utilises best pricing strategy, it is possible that to some extent strategy also might not prove fair. Socially, the company has to face many challenges as operations of SIA are not limited in few countries only. For example, tourists travelling to far country with altogether different culture and language, it might become difficult for them to understand and take assistance from flight attendants during their long journey. Thus SIA requires appointing attendants who are well conversant in different language and culture which requires a huge expenditure to spend significant amount in staffing and for the management who are able to take initiatives.(P estel and Five Forces analysis of Singapore Airline, 2015) Climatic threat has also been prominent in airline industry as any weather disruption like earthquakes, flood, or any other uncertainty in climate can lead to cancellations in flights relating those countries. On the other hand increased concern for environmental friendly services among passengers is increasing in a significant way which makes it a priority concern topic for the management part.(Together We Grow: Environmental Report, 2011) Global warming issues have affected and have been taken into consideration by many industries due to which airline industries have also started undertaking carbon reduction processes to assimilate their part of corporate social responsibility (CSR). SIA lacks some reputation here as it has been slow in responding in this case and hence is been demanded to rise in global prospective from customers.(Singapore Airlines Social Responsibility - Singapore Airlines Results, 2017) In gigantic market of airline industry where people prefers air travelling, mainly in top marketplace, the main arena in which competition is played relates to technological innovations. For this, airline industries spends considerable amount in research and programming division not only to provide technological assistance and comfort to passengers but also to evoke a sense of security among them. Technological factors is far superior in case of SIA as it holds youngest fleets of aircrafts and is a self-righteous holder in adopting new and innovated reclining seats, entertainment systems, headsets, etc. and is still improving on this ground by adopting new and advanced ways. For booking tickets online, the technological factor has great influence and SIA holds good position as it provides great support to its customers by providing easy and correct way of choosing their preference regarding price and class.(Singapore Airlines, 2017) Although countries with poor internet connectivity might not be able to utilise this service and can get astray from SIA whic h might led in losing customers for the company in those areas. Changes in governmental rules and regulations can impact the business politically. The organisation has to take permissions from the government to enter into new routes and to operate in countries where legislations are different which is another challenge the company has to face constantly.(Singapore Airlines: Sustainability Report FY2016/17, 2017) Therefore it can be said that airline industry is much depended on legal factors like government support to sustain in the market Five Forces Analysis Of Singapore Airlines To identify major external forces with which a company is affected, Michael Porter has created a tool, Five Force Analysis with the help of which companys performance within market boundary is identified and can be evaluated accordingly.(Martin, 2017) Threats of new entrants, threat of substitute product, bargaining power of suppliers, bargaining power of consumers, and competitors of industry are few areas that are been identified in this analysis. With the help of this tool the management can predict future threats and opportunities that come in the way of attaining goal of the company. The force relating threat of new entrant refers to the scope in which new competitors can accommodate itself within the industry. In airline industry, this force seems weaker for SIA as the airline industry is highly dominated by it. The government support and national carrier attached to it representing the country itself makes other competitors tough to penetrate in Singapore airline industry and passengers prefer to travel more in nation supported company. (Singapore Airlines: Sustainability Report FY2016/17, 2017)Also, the clogging of the atmosphere and airports enables increase in congestion level and is considered negative from government and passengers view point. Although there are few entrants possessing weak threat who are constantly trying to enter in the long-haul airline sector, while strong threats witnessed recently are the one dealing in short-haul airline passenger sector. The bargaining power of suppliers seems strong in airline industry as it depends highly on other resources like oil and manufacturing parts.(BUSINESS REPORT ON SINGAPORE AIRLINES PRINCIPLES OF STRATEGIC MANAGEMENT, 2015) Porter has described in its theory that if the bargaining power of suppliers is high then it weakens the relative position of business. In the year 2010, SIA declared that out of its total costs, 33% was due to oil purchase and constant increase in the prices of oil have mad e suppliers power strong enough to make contracts under their conditions.(GALLEZO-ESTAURA, 2016) Boeing and Airbus are the prime suppliers of aircraft and possess bargaining power and monopoly in supply of engines sector. With limited suppliers in manufacturing area, SIA has to constantly face difficulties in its supply and also for their maintenance.(Sustainability Report FY2015/16, 2016) Another weak force which airline industry faces is high bargaining power of customers. Over hundreds of Asian airline companies operate in the Asian region which enables customers to make choices among them according to rates and services provided by them. Increase in access to internet and websites showing comparisons between different flight operators makes it difficult for the company to maintain price. Normally a customer will prefer Airline Company with lower fare which makes their bargaining power strong. Switching costs are also fairly low and lack of customer loyalty can easily make customers switch to other company. SIA has managed to some extent in reducing this force by offering loyalty points and discounts to its regular customers which has saved the companys sustainability. According to Porter, intense rivalry can affect the business and demands change to respond accordingly.(Martin, 2017) There are several routes in which other airline companies provide sufficient amoun t of takeoffs with providing enhanced on board services. In order to sustain in the business the company must adopt price cutting strategies and ensure high service so that threat regarding competition in minimised. Competitive rivalry of SIA seems moderate with its exceptional performance in Singapore Airline industry and presence of few routes like Kangaroo Route in which the company plays control, gives its competitors tough competition.(The way how Singapore airline managing the business) Threat of substitute service according to Potter refers to the extent to which product or service can be replaced by other company with similar range. Due to requirements of government permissions and regulations in international connections, airline industry faces threat of substitutes highly in regional sector. Increase in availability of substitutes has also been a matter of concern for SIA. Although in international service, the company gains prominence. There are other issues also like increase in possibility of introducing high speed rail connections very soon. The scope of telex- communication and technology has also increased which had made people get connected and work from abode rather than making long travelling which was done by them earlier.(BUSINESS REPORT ON SINGAPORE AIRLINES PRINCIPLES OF STRATEGIC MANAGEMENT, 2015) References Airline Suppliers: Tags Singapore Airlines. (2017). Retrieved from https://www.airline-suppliers.com/tag/singapore-airlines/ AYOB, A. M. (n.d.). SINGAPORE AIRLINES LIMITED: BUILDING A CULTURE OF SERVICE EXCELLENCE . Retrieved from https://mahdzan.com/papers/sia/singapore_airlines.pdf BUSINESS REPORT ON SINGAPORE AIRLINES PRINCIPLES OF STRATEGIC MANAGEMENT. (2015). Retrieved from https://essaymonster.net/business/109258-business-report-on-singapore-airlines-principles.html Frue, K. (2017). PESTLE Analysis in Strategic Management. Retrieved from https://pestleanalysis.com/pestle-analysis-in-strategic-management/ GALLEZO-ESTAURA, K. (2016). Will cheap jet fuel costs continue to save Singapore Airlines from declining revenues? Retrieved from https://sbr.com.sg/aviation/exclusive/will-cheap-jet-fuel-costs-continue-save-singapore-airlines-declining-revenues Jurevicius, O. (2013). PEST PESTEL Analysis. Retrieved from https://www.strategicmanagementinsight.com/tools/pest-pestel-analysis.html KALPI?, B. (2002). Strategic management theory. Retrieved from https://www.dphu.org/uploads/attachements/books/books_5029_0.pdf Martin, M. (2017). Porter's Five Forces: Analyzing the Competition. Retrieved from https://www.businessnewsdaily.com/5446-porters-five-forces.html Pestel and Five Forces analysis of Singapore Airline. (2015). Retrieved from https://www.ukessays.com/essays/marketing/pestel-and-five-forces-analysis-of-singapore-airline-marketing-essay.php Singapore Airlines. (2017). Retrieved from https://www.singaporeair.com/en_UK/in/home Singapore Airlines Social Responsibility - Singapore Airlines Results. (2017). Retrieved from https://www.companyowl.com/s/Singapore%20Airlines/3152?s=singapore%20airlines%20social%20responsibility

Psycho by Alfred Hitchcock free essay sample

An analysis of one frame in the film followed by a discussion of the central theme of the movie in relation to the selected frame. The paper describes a scene in the film Psycho where the leading female character is brutally murdered while showering. It discusses the cinematography and shows how the portrayal of the scene evokes emotions in the audience. The paper analyzes how Alfred Hitchcock uses techniques in order to achieve viewer participation. The shower scene in Alfred Hitchcocks Psycho is one of the most famous in the history of the cinema. Even those who havent seen the picture, there is no doubt that they are familiar with this scene. This scene has set the standard to all the subsequent horror movies and duplicated rather badly in most of the horror pictures. The scene sets the theme of the whole picture and is one of the most violent scenes of the picture. We will write a custom essay sample on Psycho by Alfred Hitchcock or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page

Primer, Manual and Handbook

Primer, Manual and Handbook Primer, Manual and Handbook Primer, Manual and Handbook By Maeve Maddox In American usage, the word primer has two pronunciations, according to whether it refers to a beginning reading book [PRIM-ur] or to an undercoat of paint [PRY-mur]. In British usage, it’s pronounced the same way for both [PRY-mur]. This post is about the word primer [PRIM-ur] as it applies to a source of elementary instruction. The first primers were devotionals or instructional manuals written for Christian church members. They contained prayers and explanations of doctrine. Because primers were often used for the secondary purpose of teaching children to read, later church primers contained a section with the ABCs. In 1545 primers intended specifically for children began to be published under the title The A.B.C. Primers. By 1600, the word primer referred chiefly to books intended for beginning reading instruction. When I was in grade school, I had a textbook that showed pages from The New England Primer, the first elementary textbook published in the American colonies. It contained the alphabet with a verse for each letter. One that springs to mind after all these years is the unforgettable verse for the letter X: Xerxes must die and so must I. The meaning of primer as a beginning reading textbook or a book of religious instruction has not entirely disappeared, as can be seen in these modern titles available at Amazon: A Gospel Primer for Christians Alpha-Phonics: A Primer for Beginning Readers The term has evolved to mean a small introductory book on any subject. For example: A Primer of Assyriology The Puppy Primer Loom Knitting Primer Cheese Primer The Pantry Primer C++ Primer Plus A Primer for the Mathematics of Financial Engineering In extended use, primer can include things other than books: Along the way, their work [that of the Coen brothers] has served as a primer of American history- their films are almost uniformly period pieces- especially as reflected onscreen. Fights with the enemy were a given, though as it turned out the Iraq War served as a primer for Afghanistan, where Scheuer was awarded the Bronze Star for meritorious service in combat. Altogether, the [Barlow] campaign served as a primer in Catskills history. Originally, primers were quite small. Here are three other English words for books that contain basic information and are small enough to carry about: manual noun (classical Latin manualis, â€Å"held in the hand, of a size to fill the hand†): a book containing in concise form the principles, rules, and directions needed for the mastery of an art, science, or skill. Example: The acronym IAEFRTM stands for â€Å"If All Else Fails, Read the Manual.† handbook noun (literal English translation of Latin manualis): a concise reference book covering a particular subject or field of knowledge. Example: His favorite gift was A Handbook to Help Identify Hudson River Fish Larvae. vade mecum noun:  (Latin imperative: â€Å"Go with me!†): A vade mecum is a small book convenient for carrying about. Example: Dr. Thaddeus William Harris prepared a catalogue of insects that served as the vade mecum of the working entomologist in the northeastern part of the United States for at least fifty years. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:7 Classes and Types of PhrasesPeople versus PersonsThe Difference Between "Un-" and "Dis-"

Violent Crime against Women Research Paper Example | Topics and Well Written Essays - 1750 words

Violent Crime against Women - Research Paper Example To begin with physical violence, women have been constantly been assaulted in the society by either their closest friends or strangers. Very few cases are reported to the relevant authority for legal actions, while many go unreported. Although the vice is mostly carried out by men, women to have been on record by intentionally exerting force against fellow women without their consent. Women who have been assaulted end up feeling pain arising from the physical injury. Among the physical abuse and violent crime suffered by women are pushing, hitting, slapping, punching and pinching. Others include kicking, stabbing, cutting, shooting, strangling and in some instances killing. Women also suffer from sexual abuse, mostly in the hands of men as well as their fellow women. Sexual crimes occur when individual forces a woman to either engages in sexual activities or sexually related activities. Some of the sexual activities carried out on women and have been outlawed by the justice system in many countries include touching them in a sexual way without their consent, prolonged sexual contact against a woman even after being requested to stop as well as forcing them to take part in sexual acts which are not safe. The crime is sometimes carried out by spouses in marriage, dating partners as well as by lawful partners. Young girls of less than eighteen years have also been victims of sexual contacts. The crime is mostly carried out by step-fathers, elder brothers, teachers, coaches as well as people in authority.

Critical Analysis of Current Management or Leadership Book Research Paper

Critical Analysis of Current Management or Leadership Book - Research Paper Example It imparts into the managers the skills that are vital for present management as well as in the future. Managers are informed on better strategies that are necessary for solving problems. The new strategies were previously hidden from them. The theoretical proposals of the book when applied in management can help enhance the performance of various organizations. The first part of the book talks about business performance. Drucker says although there is no known genuine business theory and no integrated business strategy is in existence, people know about business and its key functions (Peter, 1999). In deed no standard management strategy exists. The practical implication of this fact is for the managers to design the strategy that will most suit the needs of their organizations. Different organizations have different management strategies and this explains the diversity in the performances of organizations. This fact coincides with what happens in reality. Managers should set balanc ed objectives in the key areas of production in line with the current prevailing factors and those of the future. Owing to the fact that businesses have certain set goals, the managers must lay down clear strategies that will help steer their business to achieving those goals. Applying the strategies proposed in the book puts the managers at a better position to improve their organizations. They must learn how to mobilize the necessary resources required in realizing the objectives of their businesses. When strategizing, managers should also put into consideration how the decisions will impact on the performance of the business in the future. When fully adhered to, the business performance proposals can be of great help in management of organizations. The book talks about dimensions of management. Organizations, both business enterprises and public institutions exist for a purpose. There are three major roles of management in an organization. The managers must ensure that these role s of management are achieved. The first role is to think through and define the specific reason for existence and mission of the institution, whether hospital, business enterprise or university. If the organization is a business enterprise, its reason for existence would be to make profit and expand its scale of operation. The second purpose is to ensure productivity and the employees achieving. The last role is to manage social impacts and responsibilities. Todays organizations’ success is based on these three pillars. Managers should know the purpose of an organization. Once they are fully in terms with the mission and purpose of an organization, they can set policies and strategies that can enhance the productivity and efficiency that aim at achieving the set goals. The strategies formulated should conform to the objectives to be achieved. Time dimension, as proposed in the book, affects management of businesses and institutions. This coincides with the real situation in m ost organizations today. In making decisions, managers should put into considerations the time factor. For a productive organization, every decision made and objectives set must be time bound. The managers must live at present and also in the future. The future goals of an organization can only be achieved from the present as they represent the continuity of the organization. Management of various organization when planning include the future in the decision

Halpern's View Essay Example | Topics and Well Written Essays - 1250 words

Halpern's View - Essay Example Through her article â€Å"Sex, Brains & Hands: Gender Differences in Cognitive Abilities,† she has explained how the sex differences in cognitive abilities are not just because of ‘sex,’ but are also due to the role of ‘preferred hand’ and socio-cultural factors in development of cognitive abilities. With the help of in depth look at different research studies in psychology, sociology, biology and culture, Halpern has done an excellent job in convincing the reader that the sex differences in cognitive abilities are more a part of social and cultural influence than the ‘sex’. The article is an eye opener as it gives an insight on the truth related to the gender studies and also makes the reader realize that accepting the differences as sex related can prove disastrous for healthy development and progress of females. Hence, it sends a strong message that one should keep away from conclusions based on half true stories in media, and should r emember that females can be trained to develop equal abilities as males if they are given equal support and opportunities as males are given in the society. Weaknesses of research studies In her article â€Å"Sex, Brains & Hands: Gender Differences in Cognitive Abilities,† Halpern has aimed to make the readers aware about the weaknesses in gender related research studies which try to send a wrong message that females are inferior to men in cognitive abilities. She has used different research studies, its results and its drawbacks, as evidence to explain her point of view. Different aspects of the gender studies which Halpern has used to prove her point are discussed below. Unreliability of tests Halpern has referred to the fact that even though there are various studies showing cognitive differences in males and females, there are also various studies which show no differences. According to Halpern, there are various â€Å"tests of verbal, visual-spatial and quantitative abi lities that show consistent sex differences† (Halpern 5). However, she also draws the reader’s attention to the fact that there are various other tests that fail to show these differences (Halpern 5). This proves that the sex differences in cognitive abilities are not a consistent. Unfortunately, only those studies which have shown sex differences in cognitive abilities are highlighted by the media for public attention. The studies which have proved that there is no difference were not given any space in media. This created a wrong notion that males are superior to females when it comes to cognitive abilities. Halpern later discusses the similar scenario observed in the field of mathematics. Differences in mathematical abilities To explain the sex differences found in mathematical abilities, Halpern has referred to study by Benbow and her colleagues. While referring to the results of this study, which showed great sex difference in ratios in high mathematics scores, she has highlighted the fact that it was not that â€Å"there were no girls in the group† who scored high (Halpern 5). It is just that girls were less in number than boys (Halpern 5). This proves that even girls can attain high scores in mathematics (Halpern 5). Sadly, as it happens always, even this study was highlighted in the media in wrong way. All kinds of media sent a wrong message that only boys are good at mathematics. However, Halpern has

technology and the world :: essays research papers

Researchers at the Massachusetts Institute of Technology (MIT) are developing a search engine designed for people with a slow net connection. Someone using the software would e-mail a query to a central server in Boston. The program would search the net, choose the most suitable webpages, compress them and e-mail the results a day later. "More and more we are creating an information divide in the world and this can help narrow that divide and have a huge benefit in that sense, " said Professor Saman Amarasinghe of MIT's Laboratory for Computer Science in Boston. The thinking behind the TEK search engine is that people in poor countries are short of money but have time on their hands, whereas people in the West are cash-rich but time-poor. "The idea is that developing countries are willing to pay in time for knowledge," explained Prof Amarasinghe. "In the West when we surf we want the information in the next two seconds. We are not willing to wait." Filtered results The researchers say current web technology such as search engines is focused on the needs of the West. When the students arrive, they can browse through those pages the way they would if they had full internet connectivity Prof Saman Amarasinghe, MIT By contrast, people in poor countries face problems such as the speed and cost of an internet connection, let alone the huge amount of webpages thrown up by search engines. "Let us assume you are in Malawi," explained Prof Amarasinghe, "and the computer lab does not have access to the telephone line all the time." "If you want to find some new information about malaria, you are prompted with a message that says 'we are going to send a query through e-mail, it is OK?'. "At night, when the phone line is available, the teacher can dial out and send the queries." The request is sent to computers at MIT in Boston, which then search the internet and gather webpages. To avoid a glut of information, the software then filters the results and chooses the most relevant. These are then sent back to the computer in Malawi so that they can be stored in the machine's internet cache. "Next morning the teacher can connect, download that e-mail and when the students arrive, they can browse through those pages the way they would if they had full internet connectivity," said Prof Amarasinghe.

Government Intervention in Venezuela’s Economy

Economic Commentary_1 The article: How can Venezuela be so rich in resources, but so low in supplies? By Douglas French/April 24, 2012 http://www. csmonitor. com/Business/The-Circle-Bastiat/2012/0424/How-can-Venezuela-be-so-rich-in-resources-but-so-low-in-supplies To what extend do a country’s natural resources explain whether consumer goods are on the nation’s shelves for people to buy. Venezuela is a prime example of this question.This is a country having abundant natural resources for it is one of the world’s top oil producers and rich in gold and other minerals, also the rich soil and temperate climate allow the country for productive agriculture. However, there are shortages of staple products like milk, meat and writing paper. This commentary focuses on the main reason causing this problem in Venezuela that is over intervention of the government towards the free market. In order to maintain the level of consumer prices, the president of Venezuela imposed pr ice controls by setting the price ceilings.Government officials claim â€Å"companies cause shortages on purpose, holding products off the market to push up prices. This month, the government required price cuts on fruit juice, toothpaste, disposable diapers and more than a dozen other products. † However, bad consequences of the price ceilings set by the government were inevitable in terms of shortages in supply, decreased market size, elimination of allocative efficiency and black markets. In figure1. 1, the original market equilibrium price under the intervention of free market is at Pe where the quantity demanded and the quantity supplied are equal.After intervention of the central government, a binding price ceiling is set and the new market price is created at Pmax where the quantity supplied is much lower than quantity demanded. The artificially low price has caused more demand for the product, thus creating a movement from Qe along the demand curve to Qd. At the same time, producers cut production in response to the lower price, moving down along the supply curve from Qe to Qs. The distance between Qd and Qs shows a shortage of the good in supply.Because of this, now residents in Caracas are forced to rely on the once-a-week deliveries made to government-subsidized stores. Moreover, as figure1. 2 suggests, the gap between Qs and Qd creates a tension in the market. At Qs there are many consumers who would be willing to pay more than Pmax if Qs is on the market. These consumers may have a strong incentive to gain the goods and services they want on the black market. As a result, the supply curve will shoot right up at Qs and the price will raise right up at that point high on the demand curve.This shows that some price ceilings may actually drive the price higher than the original equilibrium and can be just applied to the case of Venezuela. Also, setting a maximum price lower than the market equilibrium price will result in a decreased market siz e as some of the companies will be driven out of the market. The government setting prices are too low for companies to make money so they either curtail production or stop all together. As shown in figure 2. 1, initially the producer surplus of the private companies, in terms of profit, derived by firms is shown as the area from the initial market price line to the supply curve.After price controls by the government, now the new producer surplus is shown as the area from the new price line to the supply curve which is smaller than before and this reflects a lower producer surplus, therefore a welfare loss in the society. In addition, the price ceilings eliminate an allocative efficiency in the country’s economy in a competitive market as it can only be achieved when the society produces enough of a good so that the marginal benefits is equal to the marginal, in other words, producer supply and consumer demand meet at a market equilibrium price.Due to intervention of the gove rnment, price controls disenable society to get goods and services it wants most. As Times mentions, â€Å"some of the shortages are in industries, like dairy and coffee, where the government has seized private companies and is now running them, saying it is in the national interest. † But the consequence of this action is that the government will turn the markets into monopolies as there would be only state ownership in these industries, so there are no competitions between various firms and consumers will not be able to acquire substitutes in the markets.What’s more, while these industries are being completely controlled by the central planner and create state ownership of the factors of production in addition to the guide of Venezuela socialist government, it will result in the lack of individual property rights and incentive to achieve maximum efficiency in the use of resources which characterize private ownership. To conclude, Venezuela is a typically very rich in resources but very low in supplies, price controls in the markets as well as

Features Of The Financial System Finance Essay - Free Essay Example

Sample details Pages: 10 Words: 2917 Downloads: 4 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? Mauritius, which is a small island in the Indian Ocean and which forms part of the South African Development Community (SADC), is becoming more and more famous because of its financial and economic stability. The country is also very stable politically and has a good education system which has lead to a high literacy rate among its inhabitants. These factors have thus contributed to the fact that Mauritius now has a relatively big and quite well developed domestic financial system and its offshore sector, which allows it to open its financial services to the rest of the World, is quite promising. Don’t waste time! Our writers will create an original "Features Of The Financial System Finance Essay" essay for you Create order Its payment system, securities trading system and its settlement system which form part of the basic financial sector infrastructure, is quite modern and efficient. Financial Services in the country is also very accessible and it is quite easy for firms to gain access to services provided by the Financial Industry and to borrow funds. The main features of the Mauritian Financial System are its banks, its capital market, the Insurance sector, its Money Market and its Offshore Sector. 2.0 FEATURES OF THE FINANCIAL SYSTEM 2.1 BANKING SECTOR The Banking Industry plays a very important role in the economy of Mauritius as it is the main constituent of the Financial System of the country. The Banking Industry of Mauritius is considered to constitute 2/3 of the domestic financial system. It has kept expanding and has grown at a mean rate of 13% from 2002 to 2007 (Padachi, Rojid Seetanah,2008). After this progress was somewhat hindered as the world was hit by the global financial crisis. However, it has to be noted that banks in Mauritius have stood remarkably well in this period of financial turmoil and they are still performing well. This has been possible mainly due to the fact that the country is both politically and socially very stable. The Banking Sector is also quite important for the Mauritian Economy as it provides employment to many people but also by allowing the inflow of foreign currency in the country. The Banking Industry of Mauritius comprises of 19 banks among which 6 are local banks, 8 are foreign owned subsidiaries, 4 are branches of foreign banks and 1 is a joint venture. The Central Bank give licenses to all the banks in order for them to operate and provide banking services both locally and internationally. The Mauritius Commercial Bank and The State Bank of Mauritius are the 2 main local banks in the country and dominate the Banking Industry of Mauritius by controlling about 66% of the market (SADC Report,2011). They are both listed on the Stock Exchange of Mauritius. The two largest foreign banks operating in the country are the Hong Kong and Shanghai Bank (HSBC) and Barclays International which combined together have a 25% share in the market. Banks in Mauritius provide a large range of services to their customers. These include: Deposits Many deposits products are offered by the banks namely current accounts, term deposits, savings accounts and this in most currencies. Advances Banks provide financing for both private and corporate requirements along woth traditional overdraft facilities. They offer loans with different times to maturity in different currencies depending on the needs of their customers. Trade Finance Trade Finance products are very common in all Mauritian banks. They provide services such as letter of credit, import loans and other facilities to support the trading busisness. Banks also offer card based payment services such as debit cards and credit cards Other services offered by banks in Mauritius include: Electronic Funds Transfers, Foreign Exchange, Cash Management, Internet Banking, Private Banking, Wealth Management and Investment Banking. It can be said that the Banking Sector in Mauritius is very promising despite the recent crisis and with the increased number of investors now coming to the island, banks have kept on improving and innovating their products and services to better serve the changing needs of their customers. 2.2 INSURANCE SECTOR The Insurance sector in Mauritius is relatively well developed. In fact, the existence of insurance companies in Mauritius dates back to as far as 1835. The sector has taken quite a lot of time to develop but is today quite strong. This sector contributes about 2.8% to the Gross Domestic Product of the country. The Insurance Sector in Mauritius extensively uses reinsurance facilities. Life Insurance, which represents the major part of the total premiums, has been favored by the growth of pension funds. Life insurance constitutes about 61% of the total premiums. The second largest contributor to premiums is motor insurance which generates about 17% of the premiums. There are about 20 insurance companies in Mauritius. Some of them are local companies while others are branches or subsidiaries of foreign owned companies. The insurance products which are offered by those companies are adapted to meet the demands and needs of their customers. They usually provide services such as life insurance, travel insurance, personal pension plans, medical insurance, commercial insurance. Some of them also provide loans for specific purposes such as education, housing or for commercial purposes. 2.3 OFFSHORE SECTOR The Offshore sector or as it is more commonly called nowadays the Global Business sector is quite booming in Mauritius although it has been hit by the recent Global Financial Crisis which has hindered its progression. Over the past few years Mauritius has emerged as an efficiently regulated financial centre for conducting business and providing financial services. Many companies are registered in Mauritius to conduct Global Business and there are about 550 investment funds in the country. They usually conduct activities such as asset management, management of trusts, investment holding, consultancy services and management of partnerships and societies. The Offshore sector in Mauritius is however dominated by offshore banking 2.3.1 OFFSHORE BANKING IN MAURITUS Offshore business activities became a significant sector in Mauritius as from 1992, when the Mauritian Offshore Business Activities Act (MOBA Act 1992) came into force, bringing into being the Mauritius Offshore Business Activities Authority (MOBAA), which was active and effective in structuring offshore regimes in various sectors. Alongside this initiative, Mauritius began to offer a range of very attractive investment incentives. Services offered by offshore banks are in Mauritius: Accounts in major currencies, Currency Advisory Services, International Money Payments, Outward Payments, Multi-Currency Cheque book, Credit balances, Foreign Exchange and Derivatives Transaction, Structured Investments, Custody Services, Credit Facilities, International Trade Instruments, Structured Trade and Commodity Finance. The international banks present in Mauritius in the late 1980ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢s and early 1990ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢s were the pioneers in this field, backed by their enhanced knowledge of the global market and their clientsÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢ needs and demands. Services provided included offshore lending and trade financing as well as services to private equity investors and Foreign Institutional Investors (FII) in terms of opening and maintaining their accounts, cash clearing and settlement compliance monitoring and reporting, advising on tax matters and acting as global custodians. The authorities were also eager to create the appropriate environment for the offshore business sector to take off and this was done in the form of the revival of the Indo-Mauritian Double Taxation Avoidance (DTA) Treaty signed with India as far back as 1983 and ratified by both countries in 1985. The latter remained mostly inactive until 1993 when renewed interest in the Treaty was expressed when India opened its economy by allowing FIIs to invest in the Indian Stock Market. Today, some 33 other DTAs have been signed and are in force, the most active ones being those with India, China and South Africa, clearly establishing the positioning of Mauritius as a regional financial centre and the preferred route for investment flows between Africa and Asia. The international banks now present in Mauritius sought their banking license once the offshore sector had started to gain the necessary momentum and enhanced opportunities of doing business from Mauritius were well established. These are amongst others: Investec Bank in 1997, Bank International Indonesia in 1998, Deutsche bank in 1999 and Standard Chartered Bank in 2002. (Mauritius Bankers Association, 2012) 2.4 MONEY MARKET The Money Market, in Mauritius has two main constituents namely the Inter-bank money market and a market for treasury bills and other securities issued by the government. In an attempt to encourage the emergence of Islamic finance in the country it is also now possible to trade some of those instruments in the market. Banks, since 2004, can also enter into repurchase transactions amongst themselves by making use of government securities as collateral. As from 2003, The Central Bank, i.e, the Bank of Mauritius began issuing Bank of Mauritius Bills along with the normal Treasury Bills. Treasury Bills are normally issued when the Government has borrowing needs only while Bank of Mauritius securities are issued for monetary purposes. A secondary market for these types of securities is also operational. In February 2002, a Primary Dealer System was implemented and till date there are 12 banks which have been appointed as primary dealers. The Bank of Mauritius usually intervenes in the Money Market as and when it is necessary by conducting repurchase activities and reverse repurchase activities and by issuing Bank of Mauritius Bills and Notes. Its intervention will depend on the liquidity conditions of the market. The main instruments used in the money market are Treasury bills and other short term government securities. 2.5 CAPITAL MARKET The Stock Exchange of Mauritius (SEM), which was set up on the 30 March 1989, is the only organized market for the trading of company shares and debentures in Mauritius. Forty companies were listed on the Official Market of the Stock Exchange of Mauritius at the end of June 2011. Among them, only one was a foreign company while the others were local ones. In addition, five foreign firms were listed. The SEM is mainly involved in the trading of company shares and debentures. The Stock Exchange of Mauritius is nowadays undergoing a strategic reorientation of its activities and is little by little moving away from its equity based domestic exchange to a multi product internationally oriented exchange. An Over the Counter Market is also present and forms part of the Capital Market. In the pursuit of innovation, the Development and Enterprise Market (DEM) has now been implemented and it has been especially designed for small and medium sized enterprises and companies which are new entrants to the equity market (Nowbuthsingh Oodit, 2009). The DEM is mostly aimed at companies which want to take the advantages and facilities provided by a regulated and organized market. These companies might have as objective to raise capital for their future growth, make their shares more liquid, improve their corporate image or get an unbiased market value of their shares. The DEM also goes hand in hand with the policy of the Government to cater the needs for the development of a dynamic business environment in Mauritius. The Development and Enterprise Market also helps to diversify the Financial Services sector and thus it helps investors to have access to a wider range of opportunities for investment. Here, it is worth mentioning the recent implementation of the Global Board of Trade in October 2010. It is licensed as a multi class asset exchange and performs its operations on two derivatives segments namely the Currency and the Commodity Derivatives segments. It is the first exchange to offer possibilities of derivatives instruments trading in the island. It provides clearing and settlement systems and access to most of the growing economies of the world. The Global Board of Trade by its implementation has helped to promote Mauritius as a financial hub as it provides investors with opportunities such as making use of arbitrage situations and to hedge price risks movements in the international markets. 3.0 THE LEGAL AND REGUALTORY FRAMEWORK There are two main bodies which regulate the Financial System in Mauritius. They are namely The Bank of Mauritius which is the central bank and the Financial Services Commission (FSC) which is the equivalent of the FSA in the United Kingdom. The Bank of Mauritius mainly concentrates on the banking sector of the country while the FSC concentrates on the non-banking part of the Finance Industry. Let us now take a look at the roles they have. 3.1 THE BANK OF MAURITIUS The Central Bank which is known as the Bank of Mauritius was set up in 1967 and has as function to maintain price stability and to conduct monetary policy which aims at achieving an ordered and well balanced economy. It also has the duty of regulating credit an currency to ensure economic growth and to make sure that the Financial System of the country is sound and stable. The Bank of Mauritius has as main role to regulate and supervise not only banks in Mauritius but also non-banking institutions which are deposit taking ones. It undertakes this function by following the Banking Act 2004 and the Bank of Mauritius Act 2004. The Bank of Mauritius has several functions. For instance one of its main functions is to issue regulations deemed as prudential ones and see to it that they are followed by those institutions falling under their supervision. The Bank of Mauritius is also responsible for granting banking licenses. It also sees to it that banks follow the 25 Core Principles of Effective Banking Supervision set up by the Basel Committee, which enables banks to conform to international standards. 3.2 THE FINANCIAL SERVICES COMISSION The Financial Services Commission is the organization which has the responsibility of issuing licenses, regulating , supervising and monitoring financial institutions which do not perform banking activities in Mauritius. These institutions are mainly insurance companies, the Stock Exchange of Mauritius, Capital Markets and the non-banking part of the offshore sector. the FSC was established in 2001 and performs within a legal framework which comprises of the Financial Services act, the Securities Act and the Insurance Act. The FSC also has as objectives to fight against fraud and corruption and prevent money laundering. The FSC also promotes the development of the Financial Sector in Mauritius. 4.0 REFORMS AND RECOMMENDATIONS The Financial System in Mauritius has certainly been affected by the recent Global financial crisis as have been the financial system in other parts of the world. Therefore the Government along with the Bank of Mauritius and the Financial Services Commission need to make some changes to the system in order to prevent it from facing more difficulties in the future. One of the changes that can be made is that the government could take measures to attract more foreign investors in the country. By doing this, it will surely help the banks and other financial institutions as there will automatically be an increase in investment in the financial sector of the country. The government has therefore an important role to play as it is the only authority which can implement measures in order to promote the country and its financial services sector and encourage investors from abroad to come to Mauritius. Another reform which can be made concerns the regulatory framework in place. It certainly need not be completely overhauled but it can certainly be improved and fine tuned. This will benefit not only banks but all the stakeholders of the financial services industry. They will in a sense be protected from financial crises and other turmoil which might crop up in the future. Another issue might be internal risk management of the financial institutions. Financial supervisors should give more importance to the management of risks as this might prove to be an efficient way of guarding themselves against period of crises. They might develop their own methods of risk management by hiring suitably qualified and efficient staff. Another change which might be included in the reform of the Financial System in Mauritius might be the fact of internationally diversifying the investments of Mauritian investors. The latter tend to practice only horizontal types of diversification which do not include investing in foreign firms. Thus, international diversification can be encouraged. This might prove to be beneficial for investors in times when the Mauritian economy is not performing at its best. One of the ways to do so might be to list foreign firms on the Stock Exchange of Mauritius. The fact that banks are mostly the main sources of funds for companies might also be another aspect which needs to be reviewed. This situation makes it that the risk is highly concentrated on banks and it is certainly not a good thing for them. So, businesses have to be encouraged to diversify their sources of funds and have recourse to other financial institutions than banks. The financial sector should also be more innovative and not delay in introducing new financial products in the country. This will attract more investors to Mauritius and help in developing the financial sector of the country. For instance, the derivatives market has just started to make its way in the portfolios of investors and as derivatives are becoming increasingly popular they have to be integrated in the market. 5.0 CONCLUSION The economy and financial sector of Mauritius is performing quite well despite the recent turmoil which have affected economies and financial systems all over the world. Many have found it surprising how a small country like Mauritius has resisted so well to the crisis. The government along with the financial regulators and also the stakeholders are regularly taking measures to either improve or find measures to prevent the economy from going down. This has certainly helped in the improvement of the financial sector. Nevertheless there are still some areas which need some more attention and which need either to be reformed or restructured. It is certain that all the stakeholders of the financial industry in Mauritius are always finding ways to innovate and improve and it can only be hoped that this will continue.