Kudler fine foods database

A description and justification for tables (permanent and temporary) used in the design of the SQL business application. Data contained in each table along with the characteristics and format and the manner in which the data supports the SQL business application.Customer: Customer table is used to track demographic information about customers. In this tables various attributes will be related to customer information that are address, name, email, phone, birth dates, etc. This table is an important table and will be associated (relationship) with order table.Inventory: this is the table that will contain the inventory information of Kudler Fine Foods Database. In this table various attributes (fields or column) will be Item ID, inventory ID, perishable indicator, perishable date, department ID, category, description, unit of measure, quantity on hand, unit of cost, master pack quantity, supplier ID, assembly item, substitute item and tag along items. This table has relationship with I tem, Department and Supplier table.Item: This table will contain information about each item made and delivered by Kudler Fine Foods. It will contain information about item, item type, price, labor cost, etc. This table will be associated with Order Line and Tax table. In this table taxable field will contain data types as bit i.e. Yes/No.Order: Order table will store information about an order. In this table various attributes will be customer ID, sales person ID, pick up time, etc. This table will be associated with the Store and Customer, Sales Person and tender table.  Order Line: This table will contain the information about order line and units purchased of items. In this table various field will be store code, item ID, price and unit purchased by the customer. This table will be associated with the Item and Store table.Store: Store table will contain demographic information, hours of operation, lease for the building and the contact person information in it. This table will be associated with Order, Order Line and State table.  Supplier: The supplier table tracks information on who supplies Kudler with its products and it tracks their location and contact information.Tax: The Tax table ensures that the applicable tax being placed on each item.  Tender: The tender table records the method of payments used on each order. This table will be associated with Order table.  Department: The Department table contains information on the different departments and will be associated with Inventory table.State: the State table has the state abbreviation as well as its description.  Sales Person: Sales Person table tracks the different employees. It will have information about sales person employed by Kudler Fine Foods.The above mentioned twelve tables will use data types depending upon the information they have to store. For ID purpose the above tables can use data type as Number. For storing date information  Ã‚   in the table the data type for fields w ill be Date. For storing price values the data type will be Currency or Money. And for name address, description the data type used will be Text or long text (Varchar). In case of any decision is based as Yes or No than data type Bit (Yes/No or 1 and 0) can be used.The entire above mentioned table will be associated in the Kudler Fine Foods Database with each other. The various types of information regarding order, customer, inventory, sales person, etc will be taken from the above tables by creating views or running query and report can be generated.ReferenceGavin, Powell (2006). Beginning Database Design. Wiley Publishing, Inc., United State of America.

Minangkabau (Fundamental of culture, religion, belief and tradition) Essay

The Minangkabau ethnic group, also known as Minang (Urang minang in Minangkabau language), is indigenous to the highlands of West Sumatra, in Indonesia. Their culture is matrilineal, with property and land passing down from mother to daughter, while religious and political affairs are the responsibility of men (although some women also play important roles in these areas). Today 4 million Minangs live in West Sumatra, while about 3 million more are scattered throughout many Indonesian and Malay peninsular cities and towns. The Minangkabau are strongly Islamic, but also follow their ethnic traditions, or adat. The Minangkabau adat was derived from animist beliefs before the arrival of Islam, and remnants of animist beliefs still exist even among some practicing Muslims. The present relationship between Islam and adatis described in the saying â€Å"tradition [adat] founded upon Islamic law, Islamic law founded upon the Qur’an† (adat basandi syara’, syara’ b asandi Kitabullah). B. Historiography In the 14th century, minangkabau people arrived in Negeri Sembilan by Melaka and reached Rembau. They are civilized and able to socialize with the natives very well. Therefore, mixed marriages among them have created Biduanda tribe. Biduanda tribe is the original beneficiary of Negeri Sembilan and community leaders minang to be selected must be from the Biduanda tribe. The biduanda tribe have created a leader of Negeri Sembilan called ‘Penghulu’ and then ‘Undaang’. C. Culture The Minangs are the world’s largest matrilineal society, in which properties such as land and houses are inherited through female lineage. Some scholars argue that this might have caused the diaspora (Minangkabau, â€Å"merantau†) of Minangkabau males throughout the Maritime Southeast Asia to become scholars or to seek fortune as merchants. As early as the age of 7, boys traditionally leave their homes and live in a surau (a prayer house & community centre) to learn religious and cultural (adat) teachings. When they are teenagers, they are encouraged to leave their hometown to learn  from schools or from experiences out of their hometown so that when they are adults they can return home wise and ‘useful’ for the society and can contribute their thinking and experience to run the family or nagari (hometown) when they sit as the member of ‘council of uncles’. This tradition has created Minang communities in many Indonesian cities and towns, whi ch nevertheless are still tied closely to their homeland; a state in Malaysia named Negeri Sembilan is heavily influenced by Minang culture because Negeri Sembilan was originally Minangkabau’s territory (the people believe so by the old story from the ancestor). Due to their culture that stresses the importance of learning, Minang people are over-represented in the educated professions in Indonesia, with many ministers from Minang. The first female minister was a Minang scholar. In addition to being renowned as merchants, the Minangs have also produced some of Indonesia’s most influential poets, writers, statesmen, scholars, and religious scholars. Being fervent Muslims, many of them embraced the idea of incorporating Islamic ideals into modern society. Furthermore, the presence of these intellectuals combined with the people’s basically proud character, made the Minangkabau homeland (the province of West Sumatra) one of the powerhouses in the Indonesian struggle for independence. Today both natural and cultural tourism have become considerable economic activities in West Sumatra. 1. Ceremonies and festivals Minangkabau ceremonies and festivals include:  § Turun mandi – baby blessing ceremony  § Sunat rasul – circumcision ceremony  § Baralek – wedding ceremony  § Batagak pangulu – clan leader inauguration ceremony. Other clan leaders, all relatives in the same clan and all villagers in the region are invited. The ceremony will last for 7 days or more.  § Turun ka sawah – community work ceremony  § Manyabik – harvesting ceremony  § Hari Rayo – Islamic festivals  § Adoption ceremony  § Funeral ceremony  § Wild boar hunt ceremony  § Maanta pabukoan – sending food to mother-in-law for Ramadhan  § Tabuik – Muslim celebration in the coastal village of Pariaman  § Tanah Ta Sirah, inaugurate a new clan leader (Datuk) when the old one died in the few hours.  § Mambangkik Batang Tarandam, inaugurate a new leader (Datuk) when the old one died in the pass 10 or 50 years and even more, must do the Batagak Pangulu. 2. Performing arts Traditional Minangkabau music includes saluang jo dendang which consists of singing to the accompaniment of a saluang bamboo flute, and talemponggong-chime music. Dances include the tari piring (plate dance), tari payung (umbrella dance) and tari indang. Demonstrations of the silat martial art are performed. Pidato adat are ceremonial orations performed at formal occasions. Randai is a folk theater tradition which incorporates music, singing, dance, drama and the silat martial art. Randai is usually performed for traditional ceremonies and festivals, and complex stories may span a number of nights. It is performed as a theatre-in-the-round to achieve an equality and unity between audience members and the performers. Randai performances are a synthesis of alternating martial arts dances, songs, and acted scenes. Stories are delivered by both the acting and the singing and are mostly based upon Minangkabau legends and folktales. Randai originated early in the 20th century out of fusion of local martial arts, story-telling and other performance traditions. Men originally played both the male and female characters in the story, but since the 1960s women have also participated. 3. Crafts Minangkabau songket, the pattern in the lower third representing bamboo sprouts West Sumatra grand mosque with Minangkabau-modern style. Particular Minangkabau villages specialize in cottage industries producing handicrafts such as woven sugarcane and reed purses, gold and silver jewellery using filigree and granulation techniques, woven songket textiles, wood carving, embroidery, pottery, and metallurgy. 4. Cuisine The staple ingredients of the Minangkabau diet are rice, fish, coconut, green leafy vegetables and chili. The usage of meat is mainly limited to special occasions, and beef and chicken are most commonly used. Pork is not halal and therefore not consumed, while lamb, goat and game are rarely consumed for reasons of taste and availability. Spiciness is a characteristic of Minangkabau food, and the most commonly used herbs and spices are chili, turmeric, ginger and galangal. Vegetables are consumed two or three times a day. Fruits are mainly seasonal, although fruits such as banana, papaya and citrus are continually available. Three meals a day are typical with lunch being the most important meal, except during the fasting month of Ramadan where lunch is not eaten. Meals commonly consist of steamed rice, a hot fried dish and a coconut milk dish, with a little variation from breakfast to dinner. Meals are generally eaten from a plate using the fingers of the right hand. Snacks are more frequently eaten by people in urban areas than in villages. Western food has had little impact upon Minangkabau consumption and preference to date. Rendang is a dish which is considered to be a characteristic of Minangkabau culture, and is cooked 4-5 times a year. Other characteristic dishes include Asam Padeh, Soto Padang, Sate Padang, Dendeng Balado (beef with chili sauce). Food has a central role in the Minangkabau ceremonies which honor religious and life cycle rites. Minangkabau food is popular among Indonesians and restaurants are present throughout Indonesia. Nasi Padang restaurants, named after the capital of West Sumatra, are known for placing a variety of Minangkabau dishes on a customer’s table along with rice and billing only for what is taken. Nasi Kapau is another restaurant variant which specializes in dishes using offal and the use of tamarind to add a sourness to the spicy flavor. 5. Architecture Rumah gadang (Minangkabau: ‘big house’) or rumah bagonjong (Minangkabau: â€Å"spired roof house†) are the traditional homes of the Minangkabau. The architecture, construction, internal and external decoration, and the functions of the house reflect the culture and values of the Minangkabau. A rumah gadang serves as a residence, a hall for family meetings, and for ceremonial activities. With the Minangkabau society being matrilineal,  the rumah gadang is owned by the women of the family who live there – ownership is passed from mother to daughter. 6. Oral traditions and literature Minangkabau culture has a long history of oral traditions. One oral tradition is the pidato adat (ceremonial orations) which are performed by panghulu (clan chiefs) at formal occasions such as weddings, funerals, adoption ceremonies, and panghulu inaugurations. These ceremonial orations consist of many forms including pantun, aphorisms (papatah-patitih), proverbs (pameo), religious advice (petuah), parables (tamsia), two-line aphorisms (gurindam), and similes (ibarat). Minangkabau traditional folktales (kaba) consist of narratives which present the social and personal consequences of either ignoring or observing the ethical teachings and the norms embedded in the adat. The storyteller (tukang kaba) recites the story in poetic or lyrical prose while accompanying himself on a rebab. A theme in Minangkabau folktales is the central role mothers and motherhood has in Minangkabau society, with the folktalesRancak diLabueh and Malin Kundang being two examples. Rancak diLabueh is about a mother who acts as teacher and adviser to her two growing children. Initially her son is vain and headstrong and only after her perseverance does he become a good son who listens to his mother. Malin Kundang is about the dangers of treating your mother badly. A sailor from a poor family voyages to seek his fortune, becoming rich and marrying. After refusing to recognize his elderly mother on his return home, being ashamed of his humble origins, he is cursed and dies when a storm ensues and turn him along with his ship to stone. The said stone is located in Air Manis beach and is known by locals as batu Malin Kundang Other popular folktales also relate to the important role of the woman in Minangkabau society. In the Cindua Mato epic the woman is the source of wisdom, while in whereas in the Sabai nan Aluih she is more a doer than a thinker. Cindua Mato (Staring Eye) is about the traditions of Minangkabau royalty. The story involves a mythical Minangkabau queen, Bundo Kanduang, who embodies the behaviors prescribed by adat. Cindua Mato, a servant of the queen, uses magic to defeat hostile outside forces and save the kingdom. Sabai nan Aluih (The genteel Sabai) is about a young girl named Sabai, the hero of the story, who avenges the murder of her father by a  powerful and evil ruler from a neighboring village. After her father’s murder her cowardly elder brother refuses to confront the murderer and so Sabai decides to take matters into her own hands. She seeks out the murderer and shoots him in revenge. 7. Language Location ethnic groups of Sumatra, the Minangkabau is shown in light and dark olive. The Minangkabau language (Baso Minangkabau) is an Austronesian language belonging to the Malayic linguistic subgroup, which in turn belongs to the Malayo-Polynesian branch. The Minangkabau language is closely related to the Negeri Sembilan Malay language used by the people of Negeri Sembilan, many of which are descendants of Minangkabau immigrants. The language has a number of dialects and sub-dialects, but native Minangkabau speakers generally have no difficulty understanding the variety of dialects. The differences between dialects are mainly at the phonological level, though some lexical differences also exist. Minangkabau dialects are regional, consisting of one or more villages (nagari), and usually correspond to differences in customs and traditions. Each sub-village (jorong) has its own sub-dialect consisting of subtle differences which can be detected by native speakers. The Padang dialect has become the lingua franca for people of different language regions. The Minangkabau society has a diglossia situation, whereby they use their native language for everyday conversations, while the Indonesian language is used for most formal occasions, in education, and in writing, even to relatives and friends. The Minangkabau language was originally written using the Jawi script, an adapted Arabic alphabet. Romanization of the language dates from the 19th century, and a standardized official orthography of the language was published in 1976. Denominations ISO 639-3 Population (as of) Dialects Minangkabau min 6,500,000 (1981) Agam, Pajokumbuh, Tanah, Si Junjung, Batu Sangkar-Pariangan, Singkarak, Orang Mamak, Ulu, Kerinci-Minangkabau, Aneuk Jamee (Jamee), Penghulu. Source: Gordon (2005). Despite widespread use of Indonesian, they have their own mother tongue. The Minangkabau language shares many similar words with Malay, yet it has a distinctive pronunciation and some grammatical differences rendering it unintelligible to Malay speakers. 8. Adat and religion Animism has been an important component of Minangkabau culture. Even after the penetration of Islam into Minangkabau society in the 16th century, animistic beliefs were not extinguished. In this belief system, people were said to have two souls, a real soul and a soul which can disappear called the semangat. Semangat represents the vitality of life and it is said to be possessed by all animals and plants. An illness may be explained as the capture of the semangat by an evil spirit, and a shaman (pawang) may be consulted to conjure invisible forces and bring comfort to the family. Sacrificial offerings can be made to placate the spirits, and certain objects such as amulets are used as protection. Until the rise of the Padri movement late in the 18th century, Islamic practices such as prayers, fasting and attendance at mosques had been weakly observed in the Minangkabau highlands. The Padri were inspired by the Wahhabi movement in Mecca, and sought to eliminate societal problems such as tobacco and opium smoking, gambling and general anarchy by ensuring the tenets of the Koran were strictly observed. All Minangkabau customs allegedly in conflict with the Koran were to be abolished. Although the Padri were eventually defeated by the Dutch, during this period the relationship between adat and religion was reformulated. Previously adat was said to be based upon appropriateness and propriety, but this was changed so adat was more strongly based upon Islamic precepts. With the Minangkabau highlands being the heartland of their culture, and with Islam likely entering the region from coast it is said that ‘custom descended, religion ascended’ (adat manurun, syarak mandaki). Bugis (Fundamental of culture, religion, belief and tradition) Religious Beliefs. Almost all Bugis adhere to Islam, but there is great variety in the types of Islam practiced. Most Bugis identify themselves as Sunni Muslims, but their practice, influenced by Sufi tenets, is a syncretic blend that also includes offerings to spirits of ancestors and deceased powerful personages. However, reformist Islamic organizations, especially Muhammadiyah, have gained many adherents in some areas and have established their own educational institutions. The I La Galigo literature preserved in ancient manuscripts ( lontara’ ) describes a cosmology involving an upper-world and an underworld, each of seven layers, and a host of heavenly beings from whom nobles trace descent, but knowledge of details of this literature is not widespread among commoners. The To Lotang, a group of non-Muslim Bugis in Sidrap regency, continue to adhere to an indigenous belief system based on the lontara’ and similar to that of the Toraja to the north, but has had to affiliate with the nat ional Hindu movement to retain legitimacy as a religion. The extent to which Hindu-Buddhist notions have influenced Bugis religious and sociopolitical notions is currently a matter of debate. The I La Galigo literature presents a pantheon of deities ( dewata ) from whom nobles trace descent, but contemporary Bugis argue that this literature basically recognizes a single great God ( Dewata Seuwa à © ) in accord with the monotheism of Islam. Despite this, some of the other deities (e.g., the rice goddess) are still given offerings, even by Muslims. Village Bugis also recognize a panoply of local spirits associated with the house, the newborn, and sacred sites; they are variously termed â€Å"the ethereal ones† ( to alusu’ ), â€Å"the not-to-be-seen† ( to tenrita ), â€Å"evil spirits† ( sà ©tang ), etc. In fact, every object is thought to have its own animating spirit ( sumange’ ), whose welfare must be catered to in order to insure good fortune and avert catastrophe. Religious Practitioners. In addition to Islamic judges ( kali ), imams serve as local leaders of the Muslim community; they conduct Friday worship services, deliver sermons, and  preside at marriages, funerals, and local ceremonies sanctioned by Islam. Small numbers of transvestite priests ( bissu ), traditionally the guardians of royal regalia, still, though rarely, perform rituals involving chants in a special register of Bugis directed to traditional deities recognized in the lontara’. Curing and consecration ceremonies are conducted by sanro, practitioners with arcane knowledge and expertise in presenting offerings and prayers to local spirits. Ceremonies. Besides the celebration of calendric Islamic holidays (Lebaran, Maulid, etc.), Bugis of syncretic orientation perform many domestic consecration ceremonies ( assalamakeng ) involving offerings to local spirits, guardians of the house, supernatural siblings of the newly born, and other such spirits. Some districts and regencies also sponsor festivals marking planting and harvesting, although some of these have become more civic spectacles than religious celebrations. Especially among nobles, weddings are major occasions for the display of status and often involve presentations of local culture, including processions. The bissu rituals, however, increasingly are restricted and performed without large audiences. Arts. Regional dances (e.g., padendang ) are still performed at some ceremonies for the harvest and other occasions, as well as at government-sponsored festivals, but some (e.g., bissu dances) are now rarely performed. Young men enjoy practicing Indonesian martial arts ( pencak silat ) and the traditional sport of maintaining a woven rattan ball ( raga ) in the air with one’s feet and other body parts, excluding the hands. Traditional Bugis houses still abound, and are used as the basis of modern architectural designs, but figurative art is meager in keeping with Islam. Bugis music is also heavily influenced by Middle Eastern models. Music performed on flute ( suling ) and lute ( kacapi ) similar to that in West Java is common. Epic songs of traditional and contemporary martial heroes are still composed and performed, even on radio. Amulets, especially of Middle Eastern origin, are in demand, while Bugis badik, daggers with characteristically curved handles, are prized heirlooms. Gold ornaments and gold-threaded songket cloths are paraded at weddings. Royal regalia are now on display in some local museums. Medicine. While Western medicine has made inroads with the government-established rural medical health centers ( puskesmas ), many illnesses are seen as specifically Bugis and curable only by indigenous practitioners ( sanro ) who use such techniques as extraction of foreign objects, massage, use of bespelled or holy water, and blowing on the patient after the utterance of prayers. Illness may be due to one’s spirit leaving the body when subjected to sudden shock, and certain therapies are directed to its recovery. Invulnerability magic is much prized, with the shadow playing an important protective role. Certain illnesses and misfortunes are inflicted by specific spirits associated with each of the four major elements—fire, air, earth, and water. Death and Afterlife. Islamic notions of heaven and hell are now most influential, although among syncretic Bugis local spirits are still identified as the spirits of deceased rulers and other formerly powerful individuals. Funerals follow Islamic rites, and are not occasions for major redistributions, as among the neighboring Toraja. Memorial gatherings for prayer and a shared meal may be performed at such intervals as forty days after a death. History of the Bugis in Malaysia Traditionally rice farmers, the reputation of the Bugis as seafarers began only after 1670. Defeated in a protracted civil war in their homeland in southwest Celebes (now Sulawesi) in 1669, they started a diaspora and entered into the politics of the Malay peninsula and Sumatra. Under the leadership of Daeng Parani (â€Å"Daeng† is a Bugis noble title), the descendants of Daeng Relaga settled on the Linggi and Selangor rivers and with the creation of the office of the Yam Tuan Muda (Bugis underking), became the power behind the Johor throne beginning from 1722.[2] Conquest of Riau-Johor: After Sultan Mahmud II of Riau-Johor was murdered in  1699, his Bugis bendahara, Abdul Jalil, became the new Sultan. Many locals did not support him as he was not of royal blood [3] and being Bugis, was neither a Malay. Thus, upon ascending the throne, Abdul Jalil killed all the wives of Sultan Mahmud to avoid any future claims to the throne. However, one wife, Che Mi, managed to escape to Minangkabau and gave birth to Raja Kechil.[4] Less than two decades later in 1718, Raja Kechil (then aged 18 or 19) assembled a Minangkabau fleet and ousted Sultan Abdul Jalil, basing his legitimacy on the claim that he was the posthumous son of Sultan Mahmud Shah II. Sultan Abdul Jalil was demoted to Bendahara and he fled to Pahang but was murdered by Raja Kecil’s men.[5] Abdul Jalil’s brother ran amok and killed his own wife and children.[6] Led by Daeng Parani from Selangor in 1722, the Bugis mercenaries who had earlier assisted Raja Kechil in his campaign now changed sides and fought against Raja Kechil. Chain-cladded and using muskets and blunderbusses, Daeng Parani’s warriors drove Raja Kechil out of Riau-Johor where he flee to Siak and founded a new Sultanate. Because the Bugis were not regarded as Malays, Daeng Parani asked Sultan Mahmud’s son, Sulaiman, to become the figurehead ruler, whilst making his own brother, Daeng Merwah, the Yamtuan Muda who would wield true power in the kingdom. For the next 200 years, the Bugis Yamtuan Mudas would be the real power behind the throne. Selangor Sultanate (1745-present): The Bugis first settled in Selangor around 1680. After wielding power in Riau-Johor, the Yamtuan Muda’s family ruled Selangor from there. Wishing to break away from Riau-Johor, Selangor’s Bugis chief, Raja Lumu, traveled to Perak in 1745 and was installed as the Sultan of Selangor by Sultan Muhammad Shah who had become the Sultan of Lower Perak the year previous. Raja Lumu then took the name of |Sultan Sallehuddin Shah and became the first Sultan of Selangor. His descendants rule Selangor to this day. First Bugis-Dutch War (1760): The Bugis and the Malays in Bintan, the capital of Riau-Johor, were always at loggerheads and in 1753, the Bugis decided to leave for Linggi in present-day Negeri Sembilan to begin their own trading center. As they were good traders, ships soon traveled to Linggi to trade and Bintan lost its wealth. In 1760, Sultan Sulaiman asked the Dutch to help  him defeat the Bugis in revenge. Unfortunately for him, the Bugis uncovered his plan and attacked the Dutch first, almost capturing Dutch Melaka. After the Dutch won, Sultan Sulaiman made a fatal mistake by allowing Daeng Kemboja, the defeated Bugis leader, to return to Bintan. That same year, the elderly Sultan Sulaiman died. His son and grandson, who in turn became the sultan, died the following year in quick succession. Many Malays believed that the three sultans were poisoned by the Bugis.[7] The infant Sultan Mahmud Shah III was then installed and with no strong sultan to challenge them, the Bugis once again became powerful in Riau-Johor. Second Bugis-Dutch War (1784): Hostilities between the Bugis and the Dutch was sparked by a dispute over the cargo of a seized English ship. In frustration, the Bugis leader, Raja Haji, began to attack ships in the Straits of Melaka, prompting a failed Dutch attempt to try to blockade Bintan. Supported by Selangor and Rembau, the Bugis then attacked Dutch Melaka. Raja Haji was killed and the Bugis fled to Bintan when vessels from Holland arrived and defeated the Bugis. The Dutch then captured Bintan and took control of Riau-Johor. Sultan Mahmud remained as sultan but the new Dutch Resident, David Ruhde, held the real power. Thus, power in the old kingdom of Riau-Johor passed from the Malays to the Bugis and now to the Dutch.

Restaurant Business in London Essay Example | Topics and Well Written Essays - 2750 words

Restaurant Business in London - Essay Example This discussion stresses that people in London are cash-rich and time-poor. On an average, people are not present at home or at work for four hours a day. The most prevalent leisure activity is eating out. The population of London has a high frequency of dining out. The love for eating out among the people of the city reflects in the ever increasing number of restaurants.From the study it is clear that the cosmopolitan city of London is one of the most culturally diverse cities in the world. More than one fourth of the city population was not born in UK. There is no hesitation in mixing with new culture or trying new food.   People love to explore abroad. Increasing number of people is reaching out to global holiday destinations. This exposure to other countries, new culture and food habits shows an effect on the restaurant menu cards and shop shelves.  The number of cuisines that the population of London love to feast on is thirty. This includes wide range of eating joints from the luxuries restaurants, coffee shops, fast food corners, budget restaurants to take away joints. It serves across all sections of the society. Needless to say, it is one of the top food destinations in the world.  Tourists have been coming to London from the various countries and enjoying the dining experience of all parts of the world.  Today London is particularly well known around the world as a food destination due to its diverse range of people and cultures.

Comparing and Contrasting the legislative, executive, and judicial Essay

Comparing and Contrasting the legislative, executive, and judicial branches of the American government and the government of Kuwait - Essay Example In this paper we are going to compare and contrast the legislative, executive, and judicial branches of the American government and Kuwait government. The constitution of the United States government is aimed at ensuring a strong and fair national government while at the same time ensuring the freedoms of individuals are protected from abuse by the government. America is a presidential system of government with three branches; the executive, legislature and the judiciary. Each arm of the government has its own function but its powers are checked by the other arms of government. For example, the legislature makes laws while the judiciary ensures the laws are in line with the constitution. The executive arm of government is headed by the president who is democratically elected by the entire country. The president serves for a term of four years whereby fresh elections are held to elect a new president. The president is the head of state and government and is also the commander in chief of the armed forces. He/she is also entrusted with the duty of negotiating treaties on behalf of the government. The president has the power to appoi nt or remove cabinet ministers, Supreme Court judges and other government officials. The executive also comprises of the vice president and cabinet ministers who are nominated by the president. The cabinet consists of fifteen members who represent the government departments. The role of the executive is to enforce laws which are formulated by the legislature. The president signs bills into law making the laws official and enforceable (USA.gov). Unlike the American government, the executive branch of Kuwait government is headed by a constitutional hereditary emirate. The Amir is the head of state while the prime minister is the head of government. The Amir is not elected by the entire nation but inherits the position from the Al Sabah family. Kuwait does not have a

Financial Management Essay Example | Topics and Well Written Essays - 1500 words - 2

Financial Management - Essay Example (Kieso, 2009) Recording includes journalizing the transactions by recording them into a daily book known as General Journal; these transactions are then posted in the ledger to separate the transaction with respect to their nature. Moreover, these are subsequently used to make financial statements at the end of the accounting cycle to gauge the performance of the firm. (Kieso, 2009) However, this all process is governed under some accounting principles that are taken into account when the transaction are recorded, posted or reused in the making of the financial statements which include balance sheet, statement of income and expenditure, statement of cash flows and statement of changes in equity. (Kieso, 2009) ACCOUNTING CONCEPTS The accounting concepts include the assumptions on which the accounting systems are based. They provide the key steps and guides towards the preparation of financial statements. ... Below, we will discuss in detail about the concepts mentioned above. Business Entity: A concept that treats business as a separate entity from that of its owners. Thus if the owner of the firm purchases a car for his personal use then that transaction would not be treated as a part of the business; however if the car would have been purchased for the business usage, then the transaction would have been recorded under the account of the business. (Kieso, 2009) Money Measurement: Accounting allows one to record only those transactions which are monetary in nature. (Kieso, 2009) For example, Apple by virtue of accounting laws can never bring the worth of Steve Jobs on the financial statements, nor it was able to reflect the expected loss in Apple’s worth after Mr. Jobs died, thus a company cannot bring the death of an employee on the financial statements since the event cannot be classified in terms of money. However, if a transaction is monetary in nature then only it can be rec orded; for instance, ABC Company purchased office equipment worth $1 million, now, since the transaction is monetary in nature, the transaction can be recorded in the books of the accounts. Cost Concept: This concept requires one to record an asset at a cost at which it is acquired. For instance, if Wal-Mart was able to acquire a new land at $1 million whose market price was $2 million, then the transaction will record land at $1 million, even though the market price of land is $2 million. There are two advantages of this assumption; first being the fact that it ensures filtering of more than one possible market price, and second, being the fact that the cost can be documented and thus can be used

Thomas sankara the upright man review Term Paper

Thomas sankara the upright man review - Term Paper Example Do not expect any change of heart from such powers; their circumstances might have changed and their position to defensive at present. Thomas Sankara’s mind must be thinking on similar lines when he thought of self-reliant economy and he was averse to receive loans from the World Bank. He did not want any traces of colonial empowerment in his land. His acts of promotion of local food and textile production are a precedent-shattering commercial move, which gave great fillip to rural employment and provided recognition and status to the local artisans. That was a leader who had confidence in himself and in the capacity of his people to build the nation. The scene in the movie when I saw the how local African textile designs was encouraged was great. Not only his country, but the entire African Continent had a leader worth the whole-hearted support. 2. What men and women in a country that owns newly tasted independence want is confidence—the feeling that they are being car ed for and their voice is being heard in the new set up. Sankara was a great psychologist, besides being a man with the practical vision. He hit the right spot when he addressed the poor peasantry of the Nation and outlawed compulsory payments and labor (a sort of a bonded labor) to village chiefs. Rural poll tax was done away with. His most daring step in the tradition-fearing and male dominated African Society was to promote gender equality by outlawing polygamy and female circumcision. He often appeared in media to announce his popular measures. How women must have felt elated when he instructed the men to do shopping so that women had enough time as home makers. Some of his progressive measures were, the extraordinary immunization program, building new railway lines and public housing building programs. Literacy initiatives got a strong push, he addressed the issue of river blindness seriously and his most important measure—hard steps against corruption in the administrat ion, was the master-stroke and this well-meaning initiative made him popular amongst the masses. To Sankara, reformation and rehabilitation was a way of life and not mere political propaganda. He cut short the luxuries that go with the bureaucracy and urged them to be simple in their lifestyles. He advised that his picture should not be displayed in public buildings and put a ban on chauffeur-driven Mercedes and first-class airline tickets to his ministers and top bureaucracy. 3. Where is the scope and honorable place for principled politicians? Sankara was a dynamic leader who was in a hurry to show the results. His politics was unconventional. He was a planner and creative man. A man who would decide and act start and finish. His socio- economic reforms have no precedent in any African country. Some undemocratic principles crept into his style of functioning. But what he did was not for self-interest but for the overall welfare of the Nation. He was the envy of the fellow military leaders; he challenged the former colonial masters and the French hegemony. By 1987, opposition to his leadership was both from local leaders and the fresh establishment. He had humiliated President Francois

Recruitment and selection Essay Example | Topics and Well Written Essays - 1000 words

Recruitment and selection - Essay Example In this sense, HRM offers to organizational decision makers a set of people investment opportunities. The engineering firm will try to attract and retain top talents proposing them high compensation and benefits, excellent working conditions and personal growth opportunities. . Today, labor market is diverse in terms of supply and demand of top talents. The main consists of young and inexperienced managers and experienced professionals who work as leaders for 15 and more years. It is not as easy to project changes in an organizations demand for labor due to significant changes in jobs, technology, or organizational structure. To the contrary, the job requirements changed and new, higher skill sets were required. The expected gains from de-skilling in terms of easier recruitment, lowered payroll expense, and quicker training did not materialize. The assessment of the supply of talent available to an organization as projected into the future is the companion piece of this second phase of human resources planning. Here, the current employee population of the organization is inventoried to determine how well the supply can meet the demand. Together, demand and supply forecasting is sometimes referred to as manpower planning (Sakrlinski, 2001). In order to attract top talents the following recruiting methods will be used: web site advertisements (Careers section), advertisements in professional Magazines, and Online Ads and banners. These methods will help to limit a number of low-qualified managers and trract top talents. When done effectively, the staffing, recruitment, and selection process provides a flow of qualified individuals for filling open positions within the organization on a timely and efficient basis. However, when done poorly, the staffing process can result in delays, excessive cost, poor matches between worker skills and job requirements, turnover, and legal challenges. Planning

Week 7 Hand-in Assignment 7 Essay Example | Topics and Well Written Essays - 750 words

Week 7 Hand-in Assignment 7 - Essay Example So RIAA began filing injunctions and lawsuits, including some highly publicized and notorious ones against individual users. By 2002, Napster had been absorbed by the pay service Rhapsody (King 2002). Lawyers could argue the legalities of Napster for years. A few subscribers successfully claimed the music was theirs and been legitimately purchased. So sharing the download was technically no different than letting your friends listen to your CD. Yet what about the true criminal enterprises that use peer to peer to ply their trade. Who and what are they? What challenge is it for forensics investigators to hunt them down and prosecute them for their offenses? Once again new technology brings new difficulties for the law officer. The â€Å"industry† that has used peer to peer most successfully since Napster is the pornographers. This particularly includes those in the profession who operate outside the law, specifically those who manufacture and sell child porn. The United States General Accounting Office (GAO) in its 2003 paper notes that 57% of all traffic on peer to peer networks involves child pornography and child erotica. They don’t attempt to hide it either. Using simple keywords (including the names of cartoon characters!), Customs agents were able to download over three hundred images. It is not only illegal but a concern that juveniles will have ready access to pornography whether they want to or not. The National Center for Missing and Exploited Children likewise tracks such things and saw a 400% increase of peer to peer child porn in just one year (GAO 2003). Another criminal element utilizing peer to peer networks is terrorist organizations such as Al Qaeda. Stringent international efforts by countries putting their entire weight behind criminal investigations since 9/11 have caused the terrorists to go deeper underground. So peer to peer networks provide excellent

Relationship Marketing Essay Example | Topics and Well Written Essays - 1250 words

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Stock Options at eBay Case Study Example | Topics and Well Written Essays - 2250 words

Stock Options at eBay - Case Study Example With a diverse and passionate community of individuals and small businesses, eBay offers an online platform where millions of items are traded each day. It was started in 1995 with one employee and it has grown to employ thousands of employees today. Any company's future success and profits depend on their employees and the senior management. Even eBay feels that their success was dependant on their key management and their technical staff. As such eBay tries to retain their key personnel officers for the long-term to gain more profits, but they don't have any long term agreements with employees and they don't even maintain life insurance policies on their key employees. eBay attains more profits in land based auction businesses and those are dependent on specialists and senior management as these individuals have established good relations with sellers who transfer property for sale at auction. As the company is growing and the number of employees is also. The company has to attract more people and has to train them and retain them in the company for the long term, particularly the employees who are highly skilled, technical, and m anagerial. Stock options issued by a company allow the employee to buy specific amount of the company's stock at a certain price after a set period of time (the vesting period). Stock options are useful to align the interests of the employee with those of the company. Since the stock options will be profitable only if the company's stock goes up, the employee has incentive to work hard and ensure the success of the company. Also, since the options can only exercised after a certain period of time, the employee has to stay with the company. This promotes employee retention. Furthermore, by giving out stock options, the company can reduce other forms of compensation and reduce its immediate cash expenses. In this way, stock options are a better method of compensation compared to cash or stock. Let's take an example: Let's say you are hired by eBay and they offer you options to buy 10,000 shares of eBay stock at $10 within the next three years. This stock option gives you the right to buy 10,000 shares of eBay stock at exactly $10 after three years. Let's say after three years eBay stock is at $15, you can exercise your stock options, buy 10,000 shares for $100,000 and sell them on them for $150,000 making a $50,000 profit. Now, let's say eBay's price after three years is $5, your options would be worthless. Thus the options incentivize you to work hard to ensure eBay is successful as measure by a stock price greater than $10. Also, you are required to stay for at least three years to profit from your options. From this example, it is clear how stock options align the interests of employees with those of the company and promote retention. The options did not also cost the company upfront. Neither cash nor stock has all these advantages, and hence eBay compensates employees with stock options. Question 2: What are at least four benefits of choosing stock options over other compensation methods Compensation packages are a means by which companies can achieve several different goals related to recruitment,

Business Task 1 on individual report Essay Example for Free

Business Task 1 on individual report Essay Despite its future economic prospects, the United Arab Emirates continues to suffer from corporate governance issues. The development of corporate governance in the region has largely been influenced by religion (Gellis et al., 2002). The rules governing the practice of corporate governance have been significantly influenced by Islamic Sharia. This reflects the cultural and religious characteristic of the region (Islam and Hussain, 2003). Islamic Sharia specifies a number of core values such as trust, integrity, honesty and justice which are similar to the core values of corporate governance codes in the West. However, a survey of corporate governance in a number of Gulf countries such as United Arab Emirates suggests that the region continues to suffer from corporate governance weaknesses. 2.0 Reasons for the structure including use of suitable evidence and data                  The structure of the above sectors and reasons for the structure and effects on the performance of firms has been vital subject of debate in the finance literature. Empirical evidence suggests that privately held firms tend to be more efficient and more profitable than publicly held firms. This shows that ownership structure matters. The question now is how does it affect firm performance and why this kind of structure? This question is significant since it is based on a research agenda that has been strongly promoted by La Porta et al.                  According to these studies, failure of the legislative framework to provide sufficient protection for external investors, entrepreneurs and founding investors of a company tend will maintain large positions in their firms thus resulting in a concentrated ownership structure. This finding is interesting because it implies that ownership structure can affect the performance of the firm in one way or the other. It is indisputable; the lack of regulations in corporate governance gives managers who intend to mishandle the flow of cash for their own personal interest a low control level. The empirical results from the past studies of impacts of ownership structure on performance of corporate have been inconclusive and mixed up.               In response to corporate governance issues and their impact on corporate performance, Shleifer and Vishny (1997); and Jensen (2000) have suggested the need for improved corporate governance structures so as to enhance transparency, accountability and responsibility.                  Corporate governance reform and the introduction of innovative methods to limit abuse of power by top management have been justified by recent large scale accounting and corporate failures such as Enron, HealthSouth, Tyco International, Adelphia, Global Crossing, WorldCom, Cendant and the recent global financial crisis.                   According to Monks and Minow (1996) numerous corporate failures suggest that existing corporate governance structures are not working effectively. Corporate failures and accounting scandals initially appear to a U.S phenomenon, resulting from excessive greed by investors, overheated equity markets, and a winner-take-all mind-set of the U.S society. However, the last decade has shown that irregularities in accounting, managerial greed, abuse of power, are global phenomenon that cannot be limited to the U.S. Many non-U.S firms such as Parallax, Adecco, TV Azteca, Hollinger, Royal Dutch Shell, Vivendi, China Aviation, Barings Bank, etc. have witnessed failures in corporate governance and other forms of corporate mishaps.            In addition to corporate governance failures, global standards have declined significantly and unethical and questionable practices have become widely accepted. The net impact has been a reduction in the amount of faith that investors and shareholders have in the efficiency of capital markets. There is no universally accepted corporate governance model that the interest of shareholders and investors are adequately protected as well as ensuring that enough shareholder wealth is being created (Donaldson and Davis, 2001; Huse, 1995; Frentrop, 2003).               Much of the debate on corporate governance has focused on understanding whether the Board of Directors has enough power to ensure that top management is making the right decision. The traditional corporate governance framework often ignores the unique effect that the owners of the firm can have on the board and thus the firm’s top management. The traditional framework therefore ignores that fact that the owners of the firm can influence the board and thus top management to act of make particular decisions. Corporate governance studies are therefore yet to identify and deal with the complexities that are inherent in corporate governance processes.             Investment choices and owner preferences are affected among other things by the extent their degree of risk aversion. Owners who have economic relations with the firm will be interested in protecting their interests even if it is reasonably evident that such protection will result in poor performance. According to Thomsen and Pedersen (1997) banks that play a dual role as owners and lenders would discourage high risk projects with great profit potential because such projects may hinder the firm from meeting its financial obligations if the project fails to realize its expected cash flows. The government also plays a dual role in that it serves as both an owner and a regulator. Therefore owners who play a dual role in the firm often face a trade-off between promoting the creation of shareholder value and meeting their other specific objectives (Hill and Jones, 1992).                  Existing corporate governance frameworks have often ignored these issues in UAE. Rather, much of the emphasis has been on the effectiveness of the board in ensuring that top management is working towards meeting the goals of shareholders. Present corporate governance frameworks lack the ability to monitor owners and their influence on top management. The framework lacks the ability to align the role played by firm owners, board of directors and managers’ interests and actions with the creation of shareholder value and welfare motivation of stakeholders. Discussion of the possible future structure of the industry                     The United Arabs Emirates, and mainly Abu Dhabi, is enduring to increase its economy by reducing the total proportion impact of hydrocarbons to Gross Domestic Product. This is currently being done by growing investment in sector areas like: services in telecommunication, education, media, healthcare, tourism, aviation, metals, petrochemicals, pharmaceuticals, biotechnology, transportation and trade.                   Significant investments have been made by United Arab Emirates to establish itself as a regional trade hub. United Arab Emirates is also member of the World Trade Organization (WTO). In addition, there are ongoing negotiations to establish free trade agreements with other regions and countries such as the EU. These factors will contribute positively to the regions integration into the global economy. United Arab Emirates is currently working towards diversifying their economies from the oil sector into other sectors. This diversification is expected not only to increase trade among member countries but also to increase the regions trade with other countries and regions (Sturm et al., 2008). How the structure affects strategy decisions                     Ownership structure has an impact on firm performance in United Arab Emirates energy production owned sector. This region has witnessed significant economic growth over the last few decades. The region is also facing turbulent times with respect to corporate governance practices, resulting in poor firm performance. Corporate governance issues are not limited to the United Arabs Emirates as part of GCC Countries. From a global point of view, corporate governance has witnessed significant transformations over the last decade (Gomez and Korine, 2005). As a result, there has been an interest in the research attention accorded to corporate governance. The credibility of current corporate governance structures has come under scrutiny owing to recent corporate failures and low corporate performance across the world.                   The risk aversion of the firm can be directly affected by the ownership structure in place. Agency problems occur as a result of divergence in interests between principals (owners) and agents (managers) (Leech and Leahy, 1991). The board of directors is thereby regarded as an intermediary between managers and owners. The board of directors plays four important roles in the firm. These include monitoring, stewardship, monitoring and reporting. The board of directors monitors and controls the discretion of top management. The board of directors influences managerial discretion in two ways: internal influences which are imposed by the board and external influences which relate to the role played by the market in monitoring and sanctioning managers.                                       B: Contribution of the sector to the economy of your chosen country                         Analysis of contribution of sector                  United Arab Emirates remain major global economic player because it has the highest oil reserves. UAE together with the other Gulf Cooperation Council accounts for over 40% of global oil reserves and remains important in supplying the global economy with oil in future. As a result, investment spending on oil exploration and development of new oil fields is on the rise.                   Global oil demand is currently on the rise. This growth is driven mainly by emerging market economies, as well as the oil producing UAE as part of GCC countries. In addition, Europe and the U.S are witnessing depletions in their oil reserves. This means that these regions will become increasingly dependent on the Gulf region which includes UAE for the supply of oil (Sturm et al., 2008). The importance of the United Arabs Emirates as a global economic player is therefore expected to increase dramatically in the near future Use of appropriate data and other evidence                By the year 2011, the GDP of United Arab Emirates totaled to 360.2 billion dollars. Subsequently in 2001, yearly growth of GNP varied from about 7.4% to 30.7%. As part of the chief crude oil suppliers, the United Arab Emirates was at first cut off from the universal recession by high prices on oil that rose to a record 147 US dollars per barrel in the month of July in 2008. Nevertheless, the nation was ultimately influenced by the excavating worldwide recession which resulted to a decline in oil demand, reducing the oil prices to a reduced amount not exceeding a third of the peak of July 2008. In the last 2008 months, the trembles rumbling through global economies were lastly experienced in this section. Oil (million barrels) Proved reserves, 2013 Total oil supply (thousand bbl/d), 2012 Total petroleum consumption, 2012 Reserves-to-production ratio 97,800 3,213 618 95 Natural Gas (billion cubic feet) Proved reserves, 2013 Dry natural gas production, 2012 Dry natural gas consumption, 2012 Reserves-to-production ratio 215,025 1,854 2,235 116 UAE summary energy statistics C: Critical appraisal of sustainability targets on business plan of your chosen organisation                   Oil firms in United Arab Emirates is still quite immature. Most businesses are controlled by a few shareholders and family ownership is prevalent. Most large and small businesses are family businesses (Saidi, 2004). The state is also significantly involved in the management of companies (Union of Arab Banks, 2003).                     This is contrary to the status quo in Western democracies where firms are owned by a diverse group of shareholders which makes ownership to be completely separated from control. The ownership structure in United Arab Emirates suggests that stewardship and monitoring aspects of non-executive directors (NEDs) is absent in firms based in United Arab Emirates. Ownership concentration has remained high in the region because of practices such as rights issues which enable existing wealthy shareholders, and influential families to subscribe to new shares in Initial Public Offerings (IPOs) (Musa, 2002).                   According to a study of the corporate governance practices of five countries by the Union of Arab Banks (2003), ownership of corporations is concentrated in the hands of families. In addition, corporate boards are dominated by controlling shareholders, their relatives and friends (Union of Arab Banks, 2003). There is a no clear separation between control and ownership. Decision making is dominated by shareholders. The number of independent directors in the board is very small and the functions of the CEO and Chairman are carried out by the same person. The high concentration in firm ownership therefore undermines the principles of good corporate governance that are prevalent in western settings (Yasin and Shehab, 2004). This evidence is consistent with findings by the World Bank (2003) in an investigation of corporate governance practices in the Middle East North Africa (MENA) region which also includes the Gulf region. 1.0 Objective of empirical evidence                   The empirical evidence on the impact of ownership structure on firm performance is mixed. Different studies have made use of different samples to arrive at different, contradictory and sometimes difficult to compare conclusions. The literature suggests that there are two main ownership structures in firm including dispersed ownership and concentrated ownership. With respect to concentrated ownership, most of the empirical evidence suggests that concentrated ownership negatively affects performance (e.g., Johnson et al., 2000; Gugler and Weigand, 2003; Grosfeld, 2006; Holmstrom and Tirole, 1993). Different studies have also focused on how specifically concentrated ownership structures affect firm performance. For example, with respect to government ownership, Jefferson (1998), Stiglitz (1996), and Sun et al. (2002) provide theoretical arguments that government ownership is likely to positively affect firm performance because government ownership can facil itate the resolution of issues regarding the ambiguous property rights.                   However, Xu and Wang (1999) and Sun and Tong (2003) provide empirical evidence that government ownership has a negative impact on firm performance. On the contrary, Sun et al. (2002) provide empirical evidence that government ownership has a positive impact on firm performance. It has also been argued that the relationship between government ownership and firm performance is non-linear. Another commonly investigated ownership type and its impact on firm performance is family ownership. Anderson and Reeb (2003), Villanonga and Amit (2006), Maury (2006), Barontini and Caprio (2006), and Pindado et al. (2008) suggest that there is a positive link between family ownership and firm performance. Despite the positive impact some studies argue that the impact of family ownership is negative (e.g. DeAngelo and DeAngelo, 2000; Fan and Wong, 2002; Schulze et al., 2001; Demsetz, 1983; Fama and Jensen, 1983; Shleifer and Vishny, 1997).                     The impact of foreign ownership has also been investigated. Most of the evidence suggests that foreign ownership has a positive impact on firm performance (e.g., Arnold and Javorcik, 2005; Petkova, 2008; Girma, 2005; Girma and Georg, 2006; Girma et al., 2007; Chari et al., 2011; Mattes, 2008).With respect to managerial ownership, it has been argued that the relationship is likely to be positive. Despite this suggestion Demsetz and Lehn (1985) observe a negative relationship between dispersed ownership and firm performance. Institutional ownership has also been found to have a positive impact on firm performance (e.g. McConnell and Servaes, 1990; Han and Suk, 1998; Tsai and Gu, 2007). Furthermore, some studies suggest that there is no link between insider ownership and performance.                  Very limited studies have been conducted on the impact of ownership structure on firm performance in GCC countries like UAE. For example, Arouri et al. (2013) provide evidence that bank performance is affected by family ownership, foreign ownership and institutional ownership and that there is no significant impact of government ownership on bank performance. Zeitun and Al-Kawari (2012) observe a significant positive impact of government ownership on firm performance in the Gulf region.                The pervasive endogeneity of ownership has been cited as a potential reason why it is difficult to disentangle the relationship between ownership structure and firm performance. In addition, the relation may be a function of the type of firm as well as the period of observation in the life of the firm. This study is motivated by the mixed results obtained in previous studies and the limited number of studies that have focused on UAE as part of GCC countries. The objective of the study is to explore in more details the factors that motivate particular types of ownership structure and the potential impact of ownership structure and firm performance in the Gulf region 2.0 Empirical Evidence                  The empirical evidence will focus on how different ownership structures affect firm performance. Firms are often characterized by concentrated and dispersed ownership. Concentrated ownership is expected to have a positive impact on firm performance owning to the increased monitoring that it provides.                Dispersed ownership has been found to be less frequent than expected. Empirical evidence suggests that most firms are characterized by various forms of ownership concentration. Given this high level of ownership concentration, there has been an increasing concern over the protection of the rights of non-controlling shareholders (Johnson et al., 2000; Gugler and Weigand, 2003). Empirical evidence shows that ownership concentration at best results in poor performance. Concentrated ownership is costly and has the potential of promoting the exploitation of non-controlling shareholders by controlling shareholders (Grosfeld, 2006). Holmstrom and Tirole (1993) argue that concentrated ownership can contribute to poor liquidity, which can in turn negatively affect performance. In addition, high ownership concentration limits the ability of the firm to diversify (Demsetz and Lehn, 1985; Admati et al., 1994). There are various forms of concentrated ownership such as gov ernment ownership, family ownership, managerial ownership, institutional ownership and foreign ownership. In the next section, the literature review will focus on how these separate ownership structures affect firm performance. 2.1.1 Government Ownership                     The impact of government ownership on firm performance has attracted the attention of many researchers because the government accounts for the largest proportion of shares of listed companies in some countries and also because government ownership can be used as an instrument of intervention by the government (Kang and Kim, 2012). Shleifer and Vishny (1997) suggest that government ownership can contribute to poor firm performance because Government Owned enterprises often face political pressure for excessive employment. In addition, it is often difficult to monitor managers of government owned enterprises and there is often a lack of interest in carrying out business process reengineering (Shleifer and Vishny, 1996; Kang and Kim, 2012). Contrary to Shleifer and Vishny (1997) some economists have argued that government ownership can improve firm performance in less developed and emerging economies in particular. This is because government ownership c an facilitate the resolution of issues with respect to ambiguous property rights.                   The empirical evidence on the impact of state ownership on firm performance is mixed. For example, Xu and Wang (1999) provide evidence of a negative relationship between state ownership and firm performance based on data for Chinese listed firms over the period 1993-1995. The study, however, fails to find any link between the market-to-book ratio and state ownership (Xu and Wang, 1999). Sun and Tong (2003) employ ownership data from 1994 to 2000 and compares legal person ownership with government ownership. The study provides evidence that government ownership negatively affects firm performance while legal person ownership positively affects firm performance. This conclusion is based on the market-to-book ratio as the measure of firm performance.                   However, using return on sales or gross earnings as the measure of firm performance, the study provides evidence that government ownership has no effect on firm performance. Sun et al. (2002) provide contrary evidence from above. Using data over the period 1994-1997, Sun et al. (2002) provide evidence that both legal person ownership and government ownership had a positive effect on firm performance. They explain their results by suggesting that legal person ownership is another form of government ownership. The above studies treat the relationship between government ownership and firm performance as linear. However it has been argued that the relationship is not linear.                  Huang and Xiao (2012) provide evidence that government ownership has a negative net effect on performance in transition economies. La Porta et al. (2002) provide evidence across 92 countries that government ownership of banks contributes negatively to bank performance. The evidence is consistent with Dinc (2005) and Brown and Dinc (2005) who investigate government ownership banks in the U.S. 2.1.2 Family Ownership                  Family ownership is very common in oil firms in UAE. There is a difference between family ownership and other types of shareholders in that family owners tend to be more interested in the long-term survival of the firm than other types of shareholders(Arosa et al., 2010).. Furthermore, family owners tend to be more concerned about the firms reputation of the firm than other shareholders (Arosa et al., 2010). This is because damage to the firms reputation can also result in damage the familys reputation. Many studies have investigated the relationship between family ownership and firm performance. They provide evidence of a positive relationship between family ownership and firm performance (e.g. Anderson and Reeb, 2003; Villalonga and Amit, 2006; Maury, 2006; Barontini and Caprio, 2006; Pindado et al., 2008).                   The positive relationship between family ownership and firm performance can be attributed to a number of factors. For example, Arosa et al. (2010) suggests that family firms long-term goals indicate that this category of firms desire investing over long horizons than other shareholders. In addition, because there is a significant relationship between the wealth of the family and the value of the family firm, family owners tend to have greater incentives to monitor managers (agents) than other shareholders (Anderson and Reeb, 2003). Furthermore, family owners would be more interested in offering incentives to managers that will make them loyal to the firm.                     In addition, there is a substantial long-term presence of families in family firms with strong intentions to preserve the name of the family. These family members are therefore more likely to forego short-term financial rewards so as to enable future generations take over the business and protect the familys reputation (Wang, 2006). In addition, family ownership has positive economic consequences on the business. There are strong control structures that can motivate family members to communicate effectively with other shareholders and creditors using higher quality financial reporting with the resulting effect being a reduction in the cost of financing the business.                Furthermore, families are interested in the long-term survival of the firm and family, which reduces the opportunistic behavior of family members with regard to the distribution of earnings and allocation of management,.                   Despite the positive impact of family ownership on firm performance, it has been argued that family ownership promotes high ownership concentration, which in turn creates corporate governance problems. In addition, high ownership concentration results in other types of costs. As earlier mentioned, La Porta et al. (1999) and Vollalonga and Amit (2006) argue that controlling shareholders are likely to undertake activities that will give them gain unfair advantage over non-controlling shareholders. For example, family firms may be unwilling to pay dividends .                  Another reason why family ownership can have a negative impact on firm performance is that controlling family shareholders can easily favour their own interests at the expense of non-controlling shareholders by running the company as a family employment service. Under such circumstances, management positions will be limited to family members and extraordinary dividends will be paid to family shareholders. Agency costs may arise because of dividend payments and management entrenchment. Families may also have their own interests and concerns that may not be in line with the concerns and interests of other investor groups.                Schulze et al. (2001) provide a discussion, which suggests that the impact of family ownership on firm performance can be a function of the generation. For example, noting that agency costs often arise as a result of the separation of ownership from control, they argue that first generation family firms tend to have limited agency problems because the management and supervision decisions are made by the same individual. As such agency costs are reduced because the separation of ownership and control has been completely eliminated. Given that there is no separation of ownership and control in the first generation family firm, the firm relationship between family ownership and performance is likely to be positive (Miller and Le-Breton-Miller, 2006). As the firm enters second and third generations, the family property becomes shared by an increasingly large number of family members with diverse interests. The moment conflict of interests sets in the relationship between family ownership and performance turns negative in accordance to. Furthermore, agency problems arise from family relations because family members with control over the firm’s resources are more likely to be generous to their children and other relatives.                To summarize, the relationship between family ownership and firm performance may be non-linear. This means that the relationship is likely to be positive and negative at the same time. To support this contention, a number of studies have observed a non-linear relationship between family ownership and firm performance (e.g. Anderson and Reeb, 2003; Maury, 2006). This means that when ownership is less concentrated, family ownership is likely to have a positive impact on firm performance. As the family ownership concentration increases, minority shareholders tend to be exploited by family owners and thus the impact of family ownership on firm performance tends negative.                  Small countries have a relatively weak diamond of competitive advantages. D. Analysis 1.0 Potter’s Diamond Model                  The competitive forces advantages or analysis ought to be fixed on the main competition factors and its impact analysis on the business (Porter 1998, p.142). The state, and home wealth cannot be inherited -3554730607695Faktorski uvjeti 00Faktorski uvjeti -27546301293495Vezane i podrÃ… ¾avajuće industrije 00Vezane i podrÃ… ¾avajuće industrije -332041536195Ã…  ansa 00Ã…  ansa – it ought to be produced (Porter 1998, p.155). This wealth is influenced by the ability of industry to continually upgrade and innovate itself, and this is achievable exclusively by increase means in production – in all parts of fiscal action. The model of Porter concerns aspect which circuitously or openly affects advantage of competition. The aspect structure a place where given manufacturing sector like in this case, oil sector, state or region a learn and act on the way of competing in that environment. Left0 -3686175215392000Each diamond (oil) and the field of diamond (oil) as the whole structure consists of main influences that makes the oil sector competition to be successive. These influences entail: every ability and resource vital for competitive advantage of the sector; data forming the opportunity and providing the response to how accessible abilities and resources ought to be ruled; each interest group aim; and the is most crucial, oil sector pressure to innovating and investing. Swot analysis Strengths The oil sector has many years producing oil and so is well established. Comparatively lots of sub-sectors for industrialist stability and support. Weaknesses Comparatively out of date scientific foundation. Inadequate well educated professionals and residents in comparison to the new industry needs. Lesser costs of work cost in oil sector due to low salary from regular salaries in UAE. Opportunities                  The likelihood for resources application of EU agreement funds, as is the state resources Reasonably good quality of 11 % graduate students share that are likely to be absorbed into this oil sector. Contribution in motivational and investment projects that help in developing the economy of UAE every time. Threats Expansion of oil production capacity of economies of South-Eastern that have competed with low prices of products and little costs of production. Loan jobs and production globalisation. Reinforcement of local competition of adjacent economies, and thus reinforcing actions that attract direct overseas exploitation of the oil sector in UAE through investments. References Admati, A., Pfleiderer, P., and Zechner, J. 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William Shakespeare and Julius Caesar Essay Example for Free

William Shakespeare and Julius Caesar Essay William Shakespeare was born on April 23, 1564. Records show that Shakespeare was baptized three days after he was born, on April 26, 1564. He grew up in a town called Stratford upon Avon. During his lifetime, Shakespeare had three jobs. He was a playwright, a businessman, and an actor. Shakespeare not only wrote plays, but also sonnets. His most famous sonnet would be â€Å"Sonnet 18†. Some of his greatest plays are The Tragedy of Julius Caesar and The Tragedy of Romeo and Juliet. Shakespeare was known for stealing the ideas for his plays from other playwrights during his time. But, somehow he wrote magnificent plays and became the greatest playwright of all time. Shakespeare was also a businessman, just like his father. His father was a glove maker and a well respected man in the community. Although Shakespeare was not well respected, he was a successful businessman. He was a co-owner of The Globe Theatre, which was an amphitheatre located near the Themes River in England. Unfortunately, The Globe Theatre burnt down and was not able to be rebuilt by the time Shakespeare died. As an actor, Shakespeare did take part in some of his plays. Although he was never known to play the main roles. In some cases he would play a character that was important to the show.   Tragically, Shakespeare died on April 23, 1616. This is the day believed to be his birthday. Shakespeare was a very busy man during his life. He was an actor, a co-owner of The Globe Theatre, and the greatest playwright in history. The Tragedy of Julius Caesar Act I The major characters that start the play are Julius Caesar, Brutus, Cassius, Antony, and the soothsayer. Act I begins on February 15, when Caesar is celebrating his defeat over Pompey. The soothsayer warns Caesar, Beware the ides of March, but Caesar pays no attention to it. Cassius pulls Brutus aside to talk to him about Caesar and joining the conspiracy. Terrible weather is foreshadowing trouble. Act II The main characters in act II are Calpurnia, Caesar, Brutus, Portia, Cassius, and the other conspirators. Brutus joins the conspiracy and leads it. He tells Cassius and the other conspirators that there will be no oath, no Cicero, and no killing of Mark Antony. Calpurnia has a dream that Caesar is killed and convinces him not to go to the capitol. Decius reinterprets the dream and changes Caesars mind about going to the capitol. Portia begins to worry about Brutus because he hasnt been talking to her lately. Act III The main characters in this act are Caesar, Brutus, Antony, and the other conspirators. Caesar is again warned on his way to the capitol, but ignores it. The conspirators gather around Caesar in the capitol to discuss Metillus brother being released from banishment. Then they all stab and murder Caesar. Antony meets with the conspirators and pretends to be friends with them, but his real plan is to get revenge for Caesars death. Brutus allows Antony to speak at Caesars funeral. First Brutus speaks and wins over the crowd. Then Antony speaks and turns the crowd against Brutus and the conspirators by reading Caesars will. Act IV The main characters in this act are Octavius, Antony, Lepidus, Brutus, Cassius, and Caesars ghost. Antony, Octavius, and Lepidus are triumvirs, but Antony and Octavius are not sure whether or not Lepidus should rule with them. Brutus found out that Portia has died from swallowing fire. He is also arguing with Cassius a lot. Caesars ghost appears to Brutus and warns him that he will die at Philippi. Act V The main characters in act V are Octavius, Antony, Brutus, and Cassius. They all decide to meet in the field before the battle to talk. Cassius decides to run upon his own sword and kill himself. This is ironic because it is his birthday. Brutus finds out that Cassius is dead and decides to run upon his own sword too.

Study the nature of impulse buying

Study the nature of impulse buying Literature review Many researches have been carried out to study the nature of impulse buying and various factors that affect it. Impulse buying is influenced by a variety of economic, situational, personality, time, location and even cultural factors. Researches have also been conducted to understand the underlying motivational factors behind impulse buying. Similarly researches have been conducted to study factors that moderate impulse buying behavior. Consumers engage in impulse buying to satisfy hedonic desires for fun, novelty and variety; also impulsiveness is correlated with consumers desires to fulfill self-esteem and self-actualization needs. In the early stages research on impulse buying behavior was product-focused, as only products were held responsible for exciting people for unplanned purchases. The researchers directed their efforts and attention only to the type and characteristics of products and other factors associated with the availability display etc. of products in stores. But later on, from the last few decades, the researchers focused on customers rather then products as being the cause of impulse buying. The factors like personality characteristics, income level, need to fulfill self-esteem etc. are typically responsible for impulse buying behavior. The understanding of impulse purchasing was greatly improved through Sterns identification of four distinct classifications of impulse purchasing: planned, pure, reminder and suggestion impulse purchasing. The four categories are as follows: Pure impulse buying is a novelty or escape purchasing which breaks a normal buying pattern; Reminder impulse buying occurs when a shopper sees an item and remembers that the stock at home is exhausted or low or recalls an advertisement or other information about the item and a previous decision to buy; Suggestion impulse buying occurs when a shopper sees a product for the first time and visualizes a need for it, even though he has no previous knowledge of it; and Planned impulse buying occurs when a shopper enters the store with some specific purchases in mind, but with the expectation and intention to make purchases that depend on price specials, coupon offers, and the like. (Francis Piron (1991), â€Å"DEFINING IMPULSE PURCHASING†, in Advances in Consumer Research Volume 18, eds. Rebecca H. Holman and Michael R. Solomon, Provo, UT : Association for Consumer Research, Pages: 509-514) There are some factors other then product and individual characteristics that also play an important role in generating impulse purchases. Gender Differences in Impulse buying Several previous researches on impulse buying have paid some attention to the role gender plays in determining this behavior. These researches show that men and womens shopping behavior differs on many levels. Kollat and Willet (1967) found that women tend to engage in more impulse buying as compared to men. It is also argued that women because of their propensity to shop more in general, make more impulsive purchases. Tariq Jalees (2009) also found that the level of impulsiveness in reference to buying is stronger in females as compared to males. Transaction Size affecting Impulse Buying Kollat and Willet (1967) used two measures of transaction size: number of different products purchased and the grocery bill. They found out that the increase in size of the grocery bill and number of purchases made resulted in an increase in unplanned impulse purchases. Shopping List and Impulse buying Studies conducted by Kollat and Willet (1967) indicated that one of the factors that affect impulse buying is the presence of a shopping list. This however only holds true if the transaction size is greater than 15. When more than 15 or 20 products are purchased, shoppers having a list make a smaller percentage of unplanned purchases. However, when less than 15 or 20 products are bought, the shopping list does not affect the percentage of unplanned purchases. Pre-decision stage and impulse buying The research study conducted by Muhammad Ali Tirmizi, Kashif-Ur-Rehman M. Iqbal Saif (2009) clearly indicate that there exits a weak association between consumer lifestyle, fashion involvement and post-decision stage of consumers purchasing behavior but Pre-decision stage of consumers purchasing behavior established strong association with the impulse buying behavior of the consumers. The pre-decision stage of the purchasing associate the buyers with unplanned or impulse buying because these days stores are full of variety of products and a buyer can easily get interested in purchasing a product which appeals him or her while shopping the planned list of products. (Muhammad Ali Tirmizi, Kashif-Ur-Rehman M. Iqbal Saif 2009) Group influence on impulse buying Most research in consumer psychology assumes that impulsive purchasing can be best explained by factors at the individual level, in contrast a research study conducted by Xueming Luo (2005), indicates that the presence of others influences this behavior. Presence of peers increases the urge to purchase, and the presence of family members decreases it. Visual merchandising and impulse buying Todays retail stores are almost universal in their reliance on self-service merchandising and a high rate of impulse buying. Self-service merchandising is facilitated by store design and careful attention to traffic flow, while impulse buying is enhanced by the use of special displays. Customers typically do not cruise the aisles aimlessly hoping to find something to buy. Most consumers are busy people and have a purpose to their shopping trip. Thus, impulse sales are created not by persuasive reasoning, but by striking an emotion that the customer can act upon quickly. There appear to be three mechanisms by which the impulse buying response can be triggered. First, the special display cues the customer to respond to an external advertising campaign. The display creates impulse sales by reminding customers about the extensive advertising to which they have (hopefully) been exposed. Second, the display can serve to break the consumers conditioned reflex to buy a particular product. If the consumer buys Brand A because it has become a habit, then it will be necessary for them to have a reason to break this conditioned purchase behavior. Special displays provide a way to accomplish this because the consumer is responding emotionally, not through a reasoned process. Finally, special displays create impulse sales for new or novel products by instigating the desire to â€Å"try something new!† The salient feature to remember about impulse sales is that they are a response to an emotional appeal. A successful appeal may take many forms, but those most universal and easiest to communicate are identified by simple phrases such as: â€Å"low price,† â€Å"new,† â€Å"free,† â€Å"extra,† etc. A special display is used to get the customers attention for each of these messages. A research study conducted by W.M.C.B. Wanninayake Pradeep Randiwela (2007), indicates that most of customers have given first and second priority to visual merchandising. Second and third largest amount of customers mentioned price of goods and location of the outlets. According to the literature and pilot study in Sri Lankan supermarkets, researchers recognized that lighting, design layout, product display and cleanliness are the main variables of visual merchandizing. Price discounts and impulse buying This factor is the most talked about when it comes to impulse buying. A lot of people say that they indulged in impulse buying just because something was on a discount. Deals and discounts contribute to impulse buying, and when we see something priced much lower than what we are used, that triggers a desire to get that thing and save money. A large part of all purchases are attributed to impulse buying, this is undoubtedly good for retailers, but its not as good for consumers, because a lot of impulse buys dont end up getting used at all, and one regret spending any money on them. Price promotions come in various forms, such as buy-one-get-one-free offers, coupons, and of course price discounts. Cash reward is a new popular promotional tool used at many famous department stores, apparel retailing chains, and grocery stores. Consumers can obtain a rebate when their purchase passes a threshold set by the company, as in, purchase over $100 to get a $10 cash reward. However, distinguished from other price promotions, cash rewards provide consumers freedom to choose any products within the store rather than a specific product. Cash rewards, like the conditional discount of coupons, give rebates only to consumers achieving the purchasing threshold. Facing free choice and the conditional-discount promotion, consumers may be attracted to buy merchandise in excesses their original shopping budget. Those consumers perceive gains from getting the cash reward if they reach the threshold and perceive losses from not taking advantage of the offer if they do not. Such perception generates an â€Å"artificial buying desire.† Price discounts and cash rewards do increase the possibility of occurrence of unplanned purchases, especially when a consumers shopping expenditure approaches the offers threshold. Hypotheses The hypotheses formulated after review of the literature are given below: H1: Visual merchandising has a strong influence on the impulse buying behavior of the consumers. H2: Price discounts have a strong influence on the impulse buying behavior of the consumers. The testing of the hypotheses is confined to the primary data collected from Karachi. References Kollat, D. T., Willett, R. P. (1967). Is impulse purchasing really a useful concept for marketing decisions? Journal of Marketing Research, 4, 21-31. International Review of Business Research Papers, Vol. 5 No. 6 November 2009, Pp.298-308, An Empirical Analysis Of Impulsive Buying Behavior In Pakistan Tariq Jalees* JOURNAL OF CONSUMER PSYCHOLOGY, 15(4), 288-294, Copyright  © 2005, Lawrence Erlbaum Associates, Inc. How Does Shopping With Others Influence Impulsive Purchasing? Xueming Luo University of Texas at Arlington An Empirical Study of Consumer Impulse Buying Behavior in Local Markets Muhammad Ali Tirmizi, Kashif-Ur-Rehman, M. Iqbal Saif, European Journal of Scientific Research, ISSN 1450-216X Vol.28 No.4 (2009), pp.522-532  © EuroJournals Publishing, Inc. 2009, http://www.eurojournals.com/ejsr.html W.M.C.B. Wanninayake, Pradeep Randiwela, 7th Global Conference on Business Economics, ISBN: 978-0-9742114-9-4 October 13-14, 2007, Rome, Italy