Stock Analysis Essay Example | Topics and Well Written Essays - 750 words

Stock Analysis - Essay Example Surprisingly, the same investment could pose different influences on the over all levels of portfolio risk. Under-diversification of investments influences portfolio returns and portfolio risk in many ways. Investors in this company rend to follow in the group that refutes the standard finance theory. The theory supports the consensus of portfolios falling under proper diversification. Clearly, investors appear to focus portfolios in a small number of stocks with a maximum of three and a minimum of two stocks. The tendency dubbed ‘naive diversification’ suffers from the effect of minimum finances. Personal differences in the expected degree of risk uptake make it possible to differentiate between various degrees of risk in search of investors. Calculating the expected value of distribution helps investors to evaluate various levels of returns. Most of them use returns of expected probability distribution of portfolio. Variability around expected value involving probabili ty distribution on returns measures the risk. Standard deviation and variance remain the most accepted measures of variability. Harmonizing the choice of asset mix constituents remains another essential factor that determines portfolio return/risk as a characteristic that requires through evaluation during the construction of portfolio. The criteria applied in the choice of diversity levels of portfolio. Bonds that receive lower ratings in the ratings undertaken by official rating agencies such as Fitch are riskier investments compared to those that receive higher ratings. Bonds with lower ratings include small cap bonds while those that receive higher ratings include state treasury bonds and large cap bonds among many more.The context presents a situation where a clear difference must exist between the ability of the investor to take risk and his or her willingness to take part in the risk. Does the current risk profile

Spanish Slavery Essay Example | Topics and Well Written Essays - 1250 words

Spanish Slavery - Essay Example Despite being a slave, he wrote between the lines of domination while being concurrent with the prevailing circumstances. He did this with the objective of creating a 19th century alternative image of Spanish Caribbean societies that needed further critical perspectives and considerations. In this essay, I will compare Manzano with the figure of the Count in The Last Supper, in holding that despite the varying positions the two characters occupied in their respective settings, religion was a dominating factor in crystallizing their respective personalities in the context of what they delivered. The argument will be made very clear by analyzing their respective approaches towards religion and how they used religion in achieving their ends. Main Body The film, The Last Supper, directed by Tomas Gutierrez Alea (1976), depicts that in a rather imprudent attempt to add to the knowledge of his African slaves, the Count, who is pious as well as guilt ridden, asks twelve chosen slaves to hav e dinner with him on a Maundy Thursday during Easter, obviously with the intention of re-enacting the Last Supper with himself performing the role of Christ. As they are involved in eating and drinking, the Count feeds the slaves with a lot of religious oratory and tries to guide them about the tenets of Christianity. He proposes to give them an off the next day, which is Good Friday and pledges that he will free one amongst them. But he does not meet up with his commitment the next day and the slaves stage a revolt. Both, the Last Supper as well as Juan Francis Manzano’s autobiography relate to the lives of slaves in Cuban sugar plantations during the late eighteenth century and are real life stories. The film’s center piece is the bizarre circumstances under which the last supper is supervised by the Count. In keeping with a truly religious fervor, he starts by washing and kissing all the slaves’ feet as each one of them is intensely amused at the mad behavior . However, the film depicts that despite the occasional religious sentiments exhibited by the Count, who is the dominating character, he can be easily seen as an authority figure that is guilt ridden and immensely mysterious. It becomes evident from the film that the truth relative to human behaviors cannot be hidden and eventually surfaces with the actions of individuals. It appears the count is attempting to demonstrate to the slaves, his knowledge and adherence to Christian dogmas and beliefs. In this process, he clearly gives away his lack of clarity about Christianity when he tells the slaves that sorrow is the only thing that humans can happily give to God, adding that anyway, everything belongs to God. The slaves get confused and are absorbed at the thought of what he implies when he speaks about consuming Christ’s body and blood in the forms of bread and wine. Following the rebellion by the slaves, the film ironically depicts that the Count himself gets crucified as a n unlikely son of God for denying justice and property to the slaves. Autobiography of a Slave is a first hand account of Juan Francisco Manzano’s life, times and struggles. Monzano has narrated his story from a first person perception.

Taxation Essay Example | Topics and Well Written Essays - 1000 words - 9

Taxation - Essay Example his study will also perform examples of calculation to demonstrate the actual effects of the tax payments on individual and limited company, considering the aspects of Insurance, capital gains and inheritance. When Sally realizes capital gain from the investment through the exercise of the share option, the capital gain ought to form part of the taxable income. Taxation exempts many specified benefits under this condition, including insurance and the application of computer and technology. The tax system operates with exemptions of certain income elements from taxable income for individual investors, which in the case of limited company, there is minimal exemption or no exemption at all. Income sources including interest, house rent and dividends are added to the income of the spouse with the highest earned income. The personal income tax will be charged a flat rate of 15% of the income per month from the earnings gained from investment (Melville 2014, p32). If sally operates in cash, she will have two alternative decisions, either to declare the entire income from the investment, or part of it, or she may decide not to declare the income of personal income in the tax return. In the case of registering a limited company, there is no decision to make on the income to declare. All the income sources including taxable income, forms part of the taxable income. The UK system of calculating corporate taxes operates on the basis of a single tax rate applying to all the taxable incomes.  The rate is decided on by the amounts of total earnings. Registration of a limited company will enable Sally’s investment to attract smaller tax rates applied to the taxable incomes lower than the minimum limit. Investment earnings between $10000 and $37000 are exempt from taxation in the individual investment, but in the limited company, the corporate tax return must contain all income elements, charged a flat rate of 15% (Melville 2014, p27). However, the company is allowed to

Human Nature and Government Essay Example | Topics and Well Written Essays - 1500 words

Human Nature and Government - Essay Example Seventeen centuries later, another philosopher Thomas Hobbes invites us to his theory that decribes the society as a state of nature, a condition without government (Richard 1971). Both philosophers defend their theories in their works and prove that people might live better in the state where either they are coordinated "from above" by the government or where each decides for himself how to act, judge and live in the society. Thomas Hobbes and Plato have given us some highly acclaimed philosophical works providing us with their views on various aspects of life ranging from politics to the rights of citizens. Both writers had voiced their opinions in their works in a substantially strong and unfaltering manner. Hence it comes as no surprise that the two had and continue to have a phenomenal affect on the past and present populations. Thomas Hobbes was a master draughtsman who attempted to rearrange the political assumptions of the Renaissance. In Hobbes' vision, sovereignty was the exclusive property of the state, no meaningful distinctions existed between subject and citizen, and liberty was in no way contingent upon self-rule or participation in making the laws that bind polity and populace (Kavka 1986) Plato was a philosopher who believed that human beings possess intrinsic knowledge, which may never affect their senses unless they seek and acquire enlightenment. This is an interesting concept, which dispels the notion that educators can impart knowledge to their students. According to various philosophers, human nature is guided by superego and a relative state of morality. Plato believed that human nature is determined by reason and absolute standards of morality. Through his philosophical works of literature and philosophy, Plato explains the characteristics of good human beings serving their nation well and their respective responsibilities. Harping on the same string, the legendary figure highlights that it is of paramount importance that people of the world comprehend the need to apply wisdom and truth in deciding all vital matters of life. Plato believed that man is a rational being and because of this, reason plays the most important part in developing his nature and assisting him in discovering the highest good or finally attaining self-fulfilment. Plato held the view that man is seen as guided by reason to reach the highest good and attain self-fulfilment (Stevenson 1987). He asserted that changes in human nature are hierarchical in nature where man goes through different stages guided by reason. According to Plato reason is one of the most important components in determining human nature. Plato's deep insight on this issue was that a state consists of individuals and the conduct of these individuals depends on their character. Plato also describes his state of living in peace and harmony due to the fact of having everyone in connection with one another. Upon being asked if they would be united just by lip, as such," For example, in the use of the word 'father,' would the care of a father be implied and the filial reverence and duty and obedience to him which the law commands; and is the violator of these duties to be regarded as an impious and unrighteous person who is not

Taxation Essay Example | Topics and Well Written Essays - 1000 words - 9

Taxation - Essay Example his study will also perform examples of calculation to demonstrate the actual effects of the tax payments on individual and limited company, considering the aspects of Insurance, capital gains and inheritance. When Sally realizes capital gain from the investment through the exercise of the share option, the capital gain ought to form part of the taxable income. Taxation exempts many specified benefits under this condition, including insurance and the application of computer and technology. The tax system operates with exemptions of certain income elements from taxable income for individual investors, which in the case of limited company, there is minimal exemption or no exemption at all. Income sources including interest, house rent and dividends are added to the income of the spouse with the highest earned income. The personal income tax will be charged a flat rate of 15% of the income per month from the earnings gained from investment (Melville 2014, p32). If sally operates in cash, she will have two alternative decisions, either to declare the entire income from the investment, or part of it, or she may decide not to declare the income of personal income in the tax return. In the case of registering a limited company, there is no decision to make on the income to declare. All the income sources including taxable income, forms part of the taxable income. The UK system of calculating corporate taxes operates on the basis of a single tax rate applying to all the taxable incomes.  The rate is decided on by the amounts of total earnings. Registration of a limited company will enable Sally’s investment to attract smaller tax rates applied to the taxable incomes lower than the minimum limit. Investment earnings between $10000 and $37000 are exempt from taxation in the individual investment, but in the limited company, the corporate tax return must contain all income elements, charged a flat rate of 15% (Melville 2014, p27). However, the company is allowed to

Propaganda in indoctrinating Nazi ideals Essay Example for Free

Propaganda in indoctrinating Nazi ideals Essay The Nazi propaganda after the consolidation of power featured many of the common characteristics associated with totalitarian propaganda; Twisted truths, stereotypical and distorted pictures of populace groups, simple messages repeated frequently and the use of a common enemy as a scapegoat. Also the Nazi propaganda featured many new methods of indoctrination, such as the mass rally meetings and the extensive radio propaganda. But how successful where these ways in conveying and convincing people of Nazi ideals? That is the question which I plan to investigate in my essay. The propaganda campaign launched by the Nazi government was headed by the brilliant orator Joseph Goebbels which was put as Reich Minister for Public Enlightenment and Propaganda where he coordinated the seven different departments: administration and organization, propaganda, radio, press, films, theatre, and adult education. From the department Goebbels controlled all aspects of Nazi propaganda, and since he was such a skilful propagandist almost all parts of the propaganda campaign, especially the radio, became huge successes. Of all the medias available to Goebbels his unquestionable favourite was the radio- the peoples receiver. Goebbels wanted to ensure that every home in Germany was equipped with a Volksempfà ¤nger from which they could listen to propaganda at all times of day. Prices where slashed and in the late 1930 the Germans could boast having the cheapest radios in the world. Radios where even put up in working places and public areas to ensure a maximal amount of listeners. And due to the large effort put into the campaign it became one of the most successful, by 1940 16 million households in Germany listened to Nazi Propaganda via the radio. Another effective way of supplying propaganda to the German people, was ,in theory, by the use of the censored press. In the beginning the press remained relatively unchanged, propaganda message where inserted in some magazine and papers, but most of the press friendly towards the regime remained unchanged, at least in the beginning. Soon Nazis propaganda was found in every page in every paper and by 1945 the Nazis ran 82% of all the newspapers in print.

Market structures in practice at Unilever deviate

Market structures in practice at Unilever deviate Market structure is the manner in which a corporation experience competition during the delivery of goods and services. The structures are very dynamic and both extremes do exist depending on the market in which one is operating and the type of goods being dealt with. The theoretically existing market structures are: perfect competition, monopolistic competition, oligopoly and monopoly. Out of these existing market structures, it is not possible to single out one to be prevailing in the Unilever products market. This so because there is no clear cut differentiating between them. However, perfect competition is a far much distinct structure from the other three structures. Unilever has a wide range of its consumer products in distribution worldwide. The corporations complexities in organizational structure coupled with an expansive portfolio of products have made the Unilever company operate in all market structures except perfect competition. Perfect competition prevails when there are many sellers and buyers present in a market. This means that no single player will bring much influence in the entire market. The presence, withdrawal or change of strategy by a distributor in this market structure has an insignificant effect in price and demand. The market forces are left to take their full swing operation. In this market, the consumers view all products to be identical thus selection of a product to be purchased is indiscriminate. However, this is not case in most household consumer products. Consumers are very sensitive in the selection of such products, especially those that affect their health and general appearance. The earlier mentioned expansive portfolio of Unilever house hold products affects the final consumers health and appearance. This effects either instant or long term are evident in its advertising slogan; adding vitality to life. By considering the corporations profile, Unilever is not the type in which it s presence in the market cannot be felt by fellow competitors as well as consumers. Therefore, saying that a perfect competition is the kind of market structure in which Unilever is operating will be a complete fallacy. Monopolistic competition prevails when there are few restrictions to the entry of the market. The presence of a corporation in the market will therefore be determined by it creativity and ability to overcome the few existing restriction. Such restrictions may not necessarily be economic but rather anything which may retard the growth and performance of a player in that particular market. The many companies operating in this kind of market structure have little to influence since they have small market share. Unilevers market share cannot be generalized as small globally but rather largely variable. It is dependent on geographical diversification characterized by expansion and venturing into emerging markets. The aspect of small market share may not be entirely dismissed but can be stated as a fairly potential scenario to occur. This is evident in the penetration in to the new markets already colonized by competitors as well as situations where others are proving too strong to eat int o the corporations market share. The products in this case are very distinct thus one can easily differentiate between products of different companies. The Unilever products can easily be identified and are available in a large sea of household products from which a consumer chooses from. The marketing strategists in Unilever must therefore apply non-price competition strategies. Advertising is the most common non-price strategy available for Unilever, where fellow market players have close substitutes of its products. Another tool in use by the corporation is the rolling out of an ambitious research and development program which has seen it deliver the most optimal innovative designs of products. All these characteristics describe a monopolistic competition which becomes one of the prevailing market structures. Oligopolistic market structure exists when a few firm dominate market and thus enjoys a majority of market revenue. This is evident in its market share which according to Fortune 500 list of large companies in Europe, it revenue was at $ 45,679 million which placed them at fifty-fourth slot in the year 2000. This commanding market share coupled with European Union stringent standardization rules makes it hard for new products to hit the market. The Monopoly on the other hand means that there is only one supplier. Therefore there is no competition expected. The sole supplier dictates the prices, supply quantities and the quality control. This hypothetical structure hardly prevails unless there are influences from regulators like governments and other authorities empowered by pacts and international agreements. There are high barriers making it totally impossible for other firms to enter the market. It is hard to experience this kind of a market structure currently. It can only be seen in specialized products distributed by the government due to their nature to influence the national security. We can therefore confidently dismiss this structure to be non-existing in Unilevers products. To sum it all, all market structures except monopoly are in practice at Unilever. However the perfect monopolistic structure carries less weight because the cumulative market share of this corporation is big enough to shake off potential high caliber competitor. Any organization interested in the manufacture and distribution of household goods can only do best by either franchising or merging with Unilever. The consolidation of European resources through European Unions elimination of trade barriers and restrictions has come up with far reaching opportunities as well as setbacks for main stream organizations. For Unilever, it is a great milestone as it is for other multinational organizations to see different regions get in to agreements of forming trading blocs. The usually complex management structure can be simplified through creation of regional offices. The basis of such regional offices is going to be the preset blocs. Relationship between market forces and Unilevers response Market forces are the demand and supply which is a reflection of all price-conscious sellers and buyers of the products available in the market. The desires of sellers and buyers are in the two extreme ends. Sellers will want the highest possible prices while buyers want to own the goods for free if possible. Since taking goods freely is not possible they are therefore asking for minimum prices possible. The price is expected to go up with an increase in demand while an excess supply will make the price to fall. Such varied desires constitute never ending market forces. It is worth to note that the market forces are only possible when there are no external interferences. The already mentioned rich portfolio of Unilever products can be put into the following categories: washing powder and detergents, beverages and butter and margarine. These products must attract many buyers as well as producers being the fast moving consumer goods demanded by buyers daily. In fact the demand is poised to rise given the ever rising populations of the world accompanied by rapid urbanization. It is the dream of every organization in business to make profit and reduce cash outflows as much as possible. Unilever being no exception has put in a lot of efforts to stay up beat so as to maintain and grow its market share both in Europe and global market. We are now exploring its response to such dynamic challenges accompanying variations in market forces, the actual effects in revenue and long term reputation of the corporation. The corporation has a deliberate effort to guard its market share. The main strength of Unilever is the expansive geographical diversification of its products. These will translate to the final returns because; the poor results of one region are likely to be cushioned by those of the other. To illustrate this, the corporation was in operation in eighty eight different countries in the year 2002. Management teams in every region were given decision making autonomy so that the products available for distribution in their respective regions are tailor made to just meet the consumer needs. This brilliant approach ensures the avoidance of obsolescence as well as delivery of the most relevant goods in the market. Paying attention to human capital offers enormous opportunity to the long term strategy of the corporation. This global organization believes that a highly motivated human capital is going to impact positively on the general outlook. It is this reason therefore that has made the company to invest on human resources development through recruitment and training of employees from varied disciplines and qualifications. To ensure that every talent in the society is utilized one can enter the companys amazing human resource through graduate trainee program or specialized skill direct entry. Another notable strategy which may look more of welfare based than economic is the formulation and implementation of a well detailed safety, health and environmental policy. This has a lasting perspective and a wide focus beyond what can be immediately seen. However, there are short term benefits of this. An employee who is always safety conscious is going to deliver better results than the other who has no attention to safety. It is also worth noting that some economic blogs like the European Union cannot accept a companys products if there is not practical move to conserve and protect the environment. The most recent example is the black tea sourcing sustainability commitment which came by through the certification by Rain Forest Alliance. Among the immediate benefits of this tea sourcing sustainably, Unilever has been able to launch its Rain Forest Alliance compliant tea in the European market. The years of poor performances globally prompted the organization to embark on an ambitious path to growth strategy in the year 2000. The strategy has specific action points to be discussed next. First of all, the ambiguity surrounding the amorphous number of brands was eliminated through the reduction of brands to the four hundred most important core products. The unsuccessful brands were successfully removed from the market which led to the increase in sales of the top brands from 75% to 93%. The corporation has been able to also tap from emerging markets by penetrating those which are already colonized by the competitors such as; Procter Gamble, Nestle and Kraft Foods. Among the major advantages of Unilever is it ability to carry out research and identify the consumer trends of needs. With this information at hand, the response is efforts to cater for them. Just to illustrate this proactive approach, the major concerns in the world of late are nutrition and weight. Majority of the people are currently shifting their focus to ways of living healthier lifestyles. So as to move in tandem with this trend Unilever acquired Slimfast, an organization offering weight management services and nutritional consultancy. The intense competition faced worldwide has necessitated the Corporations top management to make acquisitions. The top acquisitions are Ben Jerry, Slimfast and Best Foods among other twenty worldwide. This ability to make huge acquisitions and conglomerate firms hav e put itself in a position to enable itself enjoy competitive advantage. The corporation saved EUR750 in cost and operating margins rise by 15.7 per cent in the first three quarters. The Unilever is carefully working together the Competition Commission so as to achieve a balance between their profits and legitimacy. Striking a balance has been a headache for both parties bearing in mind their varied intention of promoting competition. Competition Commission will always strive to provide a fair play ground for the players in a given industry. It ensures also that no one takes unfair advantage by punishing the final consumer. To achieve this, the commission closely monitors the interaction of competitors and partners in the market. The changes in businesses set up including concentrations through mergers and takeovers are very useful so as to eliminate the competition among the players in the market. The resent proposed acquisition of United States based Sara Lees body and laundry division by the Unilever is being reviewed in line with European Union Merger Regulation. The commission seeks to establish the ultimate effects of shelf prices of these products after th e elimination of competing suppliers of a good number of household cleaning products. Through such a strategy, the corporation is able to wade off expenses that could have resulted from competition and huge advertisement. However, if this is viewed as move to club together and drive others out of business it will be totally unacceptable and the commission is going to advice the relevant bodies accordingly. Sanctions and license suspension may the worst penalties that the company can get if found guilty. But leaving alone this pessimistic approach of the role of competition Commission, there are a lot to be achieved. The corporations expansion strategy has seen it adopt an earlier mentioned path-to-growth master plan aimed at growing it market share. Its unrivalled enormous infrastructure has played a paramount role in venturing into emerging markets. The other strategy has been the focus on the internal structures of management and building of global leadership. A well oiled management machine has been achieved through internalization of the concept of growth by every member of the management team. The history of this company shows us that it is a merger of two companies based in United Kingdom and the Netherlands. With this foundation, there has been need to cluster the two head offices resulting in a simpler organizational structure. A fast decision making and improved accountability can only be achieved through the continuous improvement of organizational structure. Importance of foreign international trade, economic integration and global markets in Unilevers business International trade is the exchange of goods and services through the borders. This type of business has formed the firm foundation in the modern business world because the manufacturers and distributors attempt to gain from a wider market rather than looking at their own borders. Each and every firm intending to throw its nets wide must focus on the globalization of its marketing and distribution operations. The foreseeable constraints of venturing into international trade are deeply rooted in the standardizations and trade barriers formed through economic integrations and blocs formations. Many economies have leant that they cannot effectively compete with the do-it-alone approach. Therefore there is a rise in regional economies coming together and forming a bigger economy. This grouping and regrouping of states have a huge impact on the social, political and most important economic dimensions of organizations. There many benefits that come along side this integrations as well as d emerits. Any organization in need of these benefits and willing to take the accompanying risks will surely take these challenges and reap from the goodies of global market. Just like any other multinational firm, Unilevers presence in the global market has helped in the continuous development of new market segment. In order to benefit from the economies of scale, the corporation shakes off the saturation in the European domestic market by gathering for the needs of international buyers. International trade is also important bearing in mind the corporations portfolio resources and products. To tap from these undoubted benefits of international trade, Unilever utilizes the various available options of internationalization. The earlier stated concept of mergers and acquisitions has given the corporation a huge milestone in venturing into international trade. Among the many firms that has entered in a n international partnership with the corporation are: Pepsico which works together to market and distribute Lipton a ready-to-drink tea, Inmarko which is the leading ice cream corporation based in Russia and the imminent acquisition of Sara Lee division of body and laundry production. In a nutshell, the company has been able to secure a total of twenty acquisitions Unilever can therefore be said to be a global corporation based on the attributes described before. This is justified by its presence in many nations and the use coordinated brands in global market. It however has one centralized office in the United Kingdom which manages the entire strategy. The European Union policies which affect tariffs and free trade agreements are going to have a final trickledown effect on the revenues and operations of Unilever. The elimination of trade restrictions and barriers within the European market means that the revenues are going to rise because of easy penetration to domestic regions. The removal of all tariffs on trade is one of the major benefits enjoyed by the corporation. Economic implications emu in the United Kingdom The economic monetary union is the adoption of one currency by the European Union member countries. This move has been achieved through the development of one European Central Bank and formulation of a common monetary policy. Such adoption of single currency has elicited a series of mixed reactions due to the economic implications. Some school of thought may argue that the adoption of EMU is irrelevant because it focuses strictly on the financial services sectors. The critics of Economic Monetary Union claim that putting together economies of different sizes is going to be detrimental. This will mean that the entire Europe economy will be the least common denominator. In simpler terms this will mean that the economic muscle of the member states is going to be achieved through striking a balance between the participating economies. The poorly performing economies are going to pull down the perceived successful ones. Despite this pessimistic view of EMU, there will ultimately be a lot of attractiveness of euro financial assets due to eliminated exchange risk and improved liquidity. In addition the stability in macroeconomic environment is very instrumental in reduction of financing and investments risks. It is no doubt that the introduction of euro as the common currency in the European Union has improved prices transparency. There are no fears by someone using euro resulting from using different currency. The firms in the Unions territory are able to comfortably compare prices without worry of actual value being distorted by conventional highly volatile exchange rates. From an external point of view, the consolidated EMU area is in a position to be self sufficient and independent of the Asian or American influences. Thus partnership has a political effect. The mutual relationships between nations are going to be fostered since the bad blood is eliminated by continually partnering in the formulation and improvement framework of the common market policies. The Eur opean Union firms, in which our organization of discussion is part, are going to increase their profitability through elimination of currency exchange transaction costs. Other trade focused proponents of this worth project claim that no cent will be lost on the fluctuating exchange rates. Trading as a bloc makes Europe compete effectively with other giants in the Far East and America.