Insperation free essay sample

Inspiration for me comes to from everything that is happening around me. Not only do I believe dance is a sport, but an art. Dance is such a special art, it involves music, movement and you mind. The struggles I have, the diversity I face, the love and happiness. I am a dancer, I’m a creator. I create what I feel, what I see, the world around me is my inspiration. My emotions are the main contributor they are the inspiration for everything I do. I have such strength and determination to follow my heart. The inspiration from this is a sad start but one I chose to fight. Many around me think my idea of dancing for a lifetime is foolish; my strength comes from those who don’t believe in their hearts. I follow my heart because it is the inspiration for everything I do. Not only am I dancer but a musician. We will write a custom essay sample on Insperation or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The music I write is all that is happening around me and how I deal. I hope my performances provide inspiration for those who see and experience what I do. I dance from experience, from my world and somewhere someone is going through the same exact things. With each performance I try to make people feel so I can inspire.

About Doctor Faustus Essays

About Doctor Faustus Essays About Doctor Faustus Essay About Doctor Faustus Essay ultimately causing the transgressors ruin, all of these feature are shown in Faustus as the play goes on. Faustus curiosity with his power with black magic has transgressed into an obsession. In this scene Faustus reaction to black magic is Oh this feeds my soul! Marlowe has used irony here as Faustus has no longer in possession with his soul due to his contract with the devil. Faustus is continuously showing hamartia in this scene by not repenting as he reassures himself that My heart is hardened, I cannot repent Faustus loss of divinity and despair is causing his downfall in the terms of a tragedy. In this scene Faustus is being persuaded by a performance of the seven deadly sins, which portrays aspect showing the satanic. Faustus overreaches in the scene as he indulges in the performance and says, That sight will be as pleasing unto me as was Adam on the first day of his creation. Marlowe uses ironic inversion to portray Faustus excitement to this performance. It is also ironic as Adam receives something of substance whereas Faustus is just receiving pleasures of the five senses. Faustus asks Tell me who made the world, a question which he know is off limits but yet is attempting to push the boundaries. This is again showing an overreaching characteristic as Faustus is trying to gain access to forbidden knowledge. Jean Calvin believed certain souls preordained by God to salvation some souls condemned to damnation as their lives are predestined. This would mean that Faustus is right to be overreaching and indulging in all he is receiving now as he had been pre destined to be damned. Could it be argued that this characteristic has been put in him by God? David Punter says that one way of looking at the gothic is that it deals with transgression Faustus transgresses to the side of the devil in this scene where he vows never to look to heaven name God or to pray to him to Lucifer. This reaction to Lucifer entering shows how intimidating and overpowering the character is. In some performances the scene has been directed to have Faustus to be seated on a throne next to Lucifer, this interpretation shows Faustus to have fully transgressed to the side of the satanic. Transgression is a key aspect of the Gothic. As the play ends with Faustus dying and been drag down to hell it contrast to the ending with morality plays where the character is resolve at the end. The gothic is all about breaking the boundaries, and Marlowe has done this with this play, as it is not conventional play and it deals with issues and themes of the devil and divinity which were very much controversial themes to explore for a play to be shown the general public. His play is used to explore and transgress the public to talk about these subjects, there for if the play would had to be put in a category I would agree that it would be placed in the Gothic genre.

Dessartation Proposal Essay Example | Topics and Well Written Essays - 1000 words

Dessartation Proposal - Essay Example Further, the Project would be managed by a consortium of developers – International with partnership of local ones. In a third-world city, there are numerous pressures from the local political and economic setup for additions and deletions of the proposed route. This can take the form of tedious litigation that should be factored in the planning process. A failure to do so would result in time and cost overruns. Before embarking on a project the size of a metro, the scope in terms of the kilometre or mile length and the routes that it would cover needs to be decided. This is of course subject to iterations as the various approvals and considerations of the authorities and the citizenry themselves needs to be taken into account. Also, the land to be acquired for laying the metro needs to be identified upfront and all obstacles to the acquisition must be dealt with. This is the single biggest reason for delays in the metro projects worldwide. As far as possible the scope of the project should be frozen before the commencement of actual work. However, in reality, it would not be feasible to completely have the blue-print ready before we literally â€Å"hit the ground†. Any changes to scope must be approved by a board of the project consisting of the representatives of the consortium, the local authorities and the public if invited. An â€Å"in principle† approval has to be ensured before the scope of the project is submitted for funding and technical feasibilities. Time is of the essence in any project and particularly so in the case of a metro for a city that is groaning under the weight of the inadequate infrastructure. There should be sweeteners for completion on time and penalties for delays. Of course, delays on account of litigation, no approvals and other exigencies should be factored into the budget. As outlined above, delays in the timelines are mainly due to legal

What do moral panics concerning youth tell us about Victorian Society Essay

What do moral panics concerning youth tell us about Victorian Society - Essay Example There are also significant criticisms against the shams and fake morality of the period which is suggested by the phrase the Victorian morality. The realities concerning prostitutes and other moral evils of the period also help one realize the true nature of the Victorian society. However, the period is more important for the development of a new youth culture and British youth movements which gave priority to new codes of conduct and rules of living. Therefore, the values of the Victorian society are closely associated with the youth culture, popular music and the moral panics concerning the youth. The youth culture of the Victorian society was also connected with the class system and youth movements of the period. In an investigation of the sociological history of the Victorian Britain, one comes to comprehend the factors which contributed to youth culture and moral panics concerning youth in the period. Moral panic concerning youth has become a major topic in the modern times, tho ugh it was started in the Victorian period. â€Å"It is widely acknowledged that this is the age of the moral panic†¦ In one sense moral panics are nothing new. For a century and more there have been panics over crime, and the activities of ‘youth’ in particular have often been presented as potentially immoral and a threat to the established way of life.† (Thompson, 1) Therefore, moral panics concerning youth in the Victorian period have been a central topic of discussion in the sociological perspective of history and this paper undertakes a reflective analysis of the youth culture, music, and moral panics concerning youth in the Victorian Britain from the point of view of history. In the modern studies on moral panics, no other age group is more closely linked with it than the youth and the Victorian Society’s concern for the moral panics among the youth is often

Research Design, Measurement, and Analysis in a quantitative research Assignment

Research Design, Measurement, and Analysis in a quantitative research method - Assignment Example Example of such conclusion is, table length is twice that of a chair. The third scale is Interval showing distance between items. Example is the distance in temperature measurement. Distance from 40-50 is the same as 70-80. The last one is an ordinal scale, which puts items in ranks. There is no degree of difference in this. Example, the ranks below shows an increase in education, 1-lower learning, 2-high school, 3-college and 4- university. Distance from 1 to 2 is comparatively not the same as 3 to 4 (Creswell, 2009). A variable is a factor that exists in differing types or amounts. In making observations and conclusions, the researcher needs to define which factor affects the other (Christensen, 2011). Dependent variables are used in the conclusion after interacting with independent variables. Variables should relate to the study subject. In my research on poor academic performance, for example, I will use teaching styles, student-teacher ratio and study hours as

Consumer Buying Behavior And Decision Making

Consumer Buying Behavior And Decision Making Recent research discovered that consumers are just likely to make purchase and to be influenced not only by relatives and peers, by endorsers but also by attitudes, situations and emotion (Olsen et al., 2007). The process of consumer decision making can be viewed as three well defined stages namely the Input, the Process and the Output as shown below (Schiffman, 2005). The Input Stage influences the individuals recognition of a product need and consists of two main sources of information which is the firms marketing efforts in term of its price, promotion, location of the retail outlets and the second source is the external sociological influences on the consumer which includes family, friends, neighbors, social class amongst others. The Process stage emphasizes on the way consumers make their decisions. The psychological factors built-in each individual like motivation, perception, learning, personality and attitudes which affect the way external elements from input stage affects the consumers recognition of a need, pre-purchase search for information and evaluation of alternatives. The output stage comprises of two related post-decision activities namely the purchase behaviour and post-purchase evaluation. A low-cost and non-durable product may be influenced by the manufacturers coupon and may actually be a trial purchase. The consumer evaluates the product through direct use. For a relatively durable product such as a laptop, the consumer decision-making model is examined in greater depth (Schiffman, 2005). 2.1 Factors influencing Consumer Buying decision 2.11 Cultural Factors In a sense, culture is a societys personality (Wayne, 2008). According to Hawkins (2009), culture is defined as the sum of total learned belief, values and customers that serve to direct the consumer behavior of members of a particular society. Individual are brought up to follow the beliefs, values and customs of their society and to avoid behavior that is considered as taboo. (Graham, 2009). Overall societies are segmented into subcultures. The sub-cultural divisions are based on nationality, religion, geographic locality, race, age and sex. 2.12 Social Factors A reference groups are groups that serves as frames of reference for individuals in their purchase or consumption decisions. Indirect reference group consist of groups with whom a person does not have direct face to face contact, such as movie stars, TV personalities, sports heroes or even interesting-looking people on the street (Graham, 2009). An individual who has little or no experience with a durable product is more likely to seek out the advice or example of others (Solomon et al., 2009). When consumers are concerned with obtaining accurate information about the performance or quality of a product or service, they are likely to be persuaded by those whom they consider trustworthy and knowledgeable (Hoyer et al., 2007). Appeals by celebrities and other reference group are used very effectively to communicate with their market. For many consumers, their family is their primary reference group for many attitudes and behavior. The members of a family assume specific roles in their everyday functioning, such roles or tasks extend to realm of consumer purchase decisions. 2.13 Psychological Factors Psychological factors arousing within individuals relatively drive general behavior of consumers and thus affect their behavior. The main influences on consumer behavior are personality and self-concept, motivation, learning and perception (Sorensen, 2009). 2.14 Individual Factors Demographic variables are individual characteristics which consist of occupation, sex, income, origin, ethnic, race and age (Kanuk,1999). 2.2 Organizational Buying Behavior The decision making process by which formal organizations confirm the need for products and services to be purchased, consider and select among alternative suppliers and brands (Glavee, 2009). (Hutt, 2009), as an outcome of the vast area of prior research, proceeded the characterization of the industrial buying behavior divided into three major aspects: The Buying Process, The buying Centre and Factors influencing the buying centre. As Kelly (2007), the buygrid model is a conceptual model, which describes the different combinations of buying phases and buying situations. It incorporates three types of buying situations: (1) the new task, (2) the straight re-buy, and (3) the modified re-buy, combined with eight phases in the buying decision process. The model serves as an easy framework for visualizing the otherwise complex business buying process and enables the vendor to identify the critical phases and situation requiring specific types of information. 2.3 The Buying Centre As Hutt (2009) mentioned, companies do not buy, people do. It is of utmost importance to have a concrete knowledge about those involved in the buying decision making process of the goods or services that a vendor aim to sell. It has been indicated that many individuals are pertained in the buying process of industrial goods. 2.4 Roles of the Buying Centre members Buyers are known to assume some common roles in a buying process (Wind, 1967). These roles are classified into six groups which are shown below. Initiator is the one or group of individuals who become aware of a company problem and recognize that the problem can be solved via acquisition of a product or service. The influencers are those who have a say in whether a product or service is bought or not. The more critical a purchase is to companys business, the higher the number of influencers. Gatekeepers usually act as problem or product experts. They have information about a range of vendor offerings. Other buying centre members therefore rely on their information for their assessment of prospective vendors offerings. Thus, by controlling information, and, by having access to decision makers in the firm, the gatekeepers largely determine which vendors get the chance to sell. Deciders are those who make the actual purchase decision. For instance, they say yes or no to what vendors offer. The buyer is one who makes arrangements for the delivery of the goods. He is also often directly involved in negotiating the conditions under which the transactions will be made. Users are those who usually make use of the products in normal working process. 2.5 Factors influencing the buying process and the buying centre Different attributable influences that affect the buying process and the buying centre previously addressed ( Nielson, 2008) : Aspects influencing the buying process Brief description Organizational Technology, goal, task, actors, structure. Interpersonal Formal authority, persuasiveness Personal Status, politics, ethics. Environmental Physical, economic, technological, legal, political and cultural. 2.6 WOM in Consumer Environment Word of mouth is about disseminating information by verbal communication, particularly references including general information in an informal or person-to-person approach. Word of Mouth is usually regarded as a verbal communication, although web dialogue, such as, message boards, emails and blogs (Olson et al., 2010). 2.7 WOM influencing consumer buying behavior WOM is considered to be of utmost importance in shaping consumers attitudes and behaviors. Silverman (2011), studied the diffusion of technology products and concluded that the pattern of ownership may be justified by the presence of an effective network consisting of neighbours exchanging product information. Songe (2006) pointed out that WOM is the most essential source of influence in the purchase of technology and household goods. It is three times effective as radio advertising, newspapers and magazines. 2.8 Characteristics of WOM WOM can be seen as positive as well as negative (Jantsh, 2010). Negative WOM arose when consumers gather information on lack of service, high prices or impolite sales personnel. PWOM is a reference to the passing of positive information. Scharffer (1998) indicated that dissatisfied customers made complain twice than when they are satisfied. Goodman (2009) justified that the services recovery programmes, service guarantees and complaints process affect the direction of WOM. WOM is considered to be an unlimited activity to consumers. The WOM activity can be perceived as a function where the individuals with whom the organization and its employees come into contact like the customers, suppliers, competitors, the general public, or other stakeholders (Misner, 1999). Throughout a decision making process, WOM may be employed at different stages. WOM can be used before or after a purchase. The use of WOM in a pre-purchase stage is referred to as input WOM and Output WOM is issued after the purchase (Assael, 1997). The effectiveness of WOM is far from being unnoticed. Some organizations regard customer WOM as one of the most strong marketing tool (Wilson, 1994). According to Scharffer (1998), marketers attempt to directly influence opinion leaders, incite WOM communication in advertising or depict communications form opinion leaders. 2.9 The Nature of WOM Nail (2002), distinguished three main types of WOM communications in an evaluation on personal influence in buying technology products namely product information, private experience and recommendation. Product information is informing about the product such as benefits of the products. Private experience includes explanations about reasons for purchasing the product. Recommendation refers to point of views about the product. These categorization implies that WOM attends to inform and to influence. Product news, for example, is efficient in bringing awareness about a product and its features. Listening about the experiences of the product from a friend help the consumer in evaluating the absolute merits of one brand or another. Eventually through the perceptions of others, advice is essential in making the purchase decision stage (Solomon et al., 2009). 2.10 Opinion leaders and followers According to Rosen (2002), mass media messages are caught and disseminated by opinion leaders. He also pointed out that mediated communication are circulated to opinion leaders who disseminate it through WOM to their peers. This in turn exert some influences. According to his theory, opinion leaders are present in all groupings of society and may be persuasive on specific topic (Songe, 2006). Lois (2007), could not differentiate between followers and opinion leaders. In his research, he inclined to talk of influencers rather than opinion leaders. He pointed out that influencers are active information searcher, more dependent and more innovative. The follower is active and may ask for information as well as considering opinions of others Those who diffuse information are also likely to receive it which denote that opinion leaders are also followers and vice versa. Wilson (1994) has certified that there is a dominance of personal influence in decision making. In his study, Hutt (2009) added that people who received positive WOM about a new product were more likely to purchase it rather than those who received negative WOM. The powerful effect of WOM is linked to various factors. There are situations where consumers referrals are perceived as being more rational and reliable than commercial sources of information (Rosen, 2002). Dialogues with either friends or relatives tend to be friendly and can help for trying out certain behaviours. Potential consumers of a particular product can acquire some of the product experience by searching for someone who has acquired recent experience with the product (Silverman, 2011). 2.11 Importance of WOM in service sector Good service is essential to promote positive WOM. Consumers depend largely on personal communication with other customers since their experiences are regarded as a trial (Goodman, 2010). Wilson (1994), in turn found that services consumers choose to search for reference from relative and peers rather than promotional sources. Customers are skeptical. They do not believe anymore about what they see or hear. (Kelly, 2007). According to Finch (2003), it is considerable when reference groups are likely to influence especially when the customer is dealing with a decision process and the purchase of the product involve certain risk. Proctor (1995) noted the individuals who have ongoing involvement are more prone to be opinion leaders. Consumers would rather seek information from friends and family if risk is likely to emerge when making a purchase (Scharffer, 1998). 2.12 Motives for engaging in WOM communication Finch (2003), concluded that there are a multitude of reasons for engaging in WOM communication. Sernovitz (2009), supported with evidence that those who disseminate information are certainly those who are experiencing the product. The involvement in the product-related decision is an essential component in personal communications. According to Songe (2006), WOM communication is the basic interest in the product category concerning ongoing involvement. Individuals who have an enduring interest in a product category experience satisfaction in discussing about it (Wilson, 1994). Additionally, Rosem (2002), pointed out that WOM communication is usually introduced to remove any doubt about product choice. According the theory of Wilson (1994), a consumer may try to decrease discomfort by explaining the positive aspects of a recently purchased product to peers and family. Furthermore, purchasing the similar product by a friend or relative proves the original judgment of the consumer (Skubal, 2002). Discussing about the product may likely to drive people to personal satisfaction (Songe, 2006). 2.13 Post-Purchase Decision-Making Negative WOM is known to be a framework of customer complaining behaviour. Harris (2008) suggested that consumers can either express their dissatisfaction or end up the relationship when confronting with unmet expectations. Furthermore, Burg (2005) classified three main reactions to dissatisfaction namely switching to another brands or substitute, making a complaint to the retailer or personnel and finally informing others about the unsatisfactory product or service. Concerning minor dissatisfaction consumers are not likely to complain nor do they spread negative WOM (Finch, 2003). When the level of dissatisfaction is important, consumers are more likely to complain (Kelly, 2007). Goodman (2009), referred that after purchases, consumers are likely to engage in a post-purchase evaluation of the product. If the consumer is not satisfied, psychological discomfort may occur. 2.14 Pre-Purchase DM According to Scharffer (1998), WOM is seen as a process through which consumers convey both informational influence in evaluation of the product and the purchase intention of fellow consumers. This type of information can thus be expressed according to the choice of the referral source or the task of selecting the product (Lees, 2007). 2.15 WOM has a powerful influence on organizational DM WOMC is thus considered as a growing necessity in B2B markets. According to Neilsen (2000) , WOM consists of informal communications directed by consumers at other consumers about ownership or characteristics of particular goods or services and or their sellers. WOM is perceived as an exit outcome to dissatisfaction with the product quality it can be perceived a behavioral manifestation of a latent loyalty towards the supplier or the brand (Canning, 2007). The WOM system is referred to a network where personal, verbal, face to face communication take place. It is also defined as the attribute of the information dealt and how these information would determine the role of the participants (Balter et al., 2009). 2.16 Provision of WOM While in any prevailing WOM circumstances, recommendations, opinions, information are likely to succeed in both ways. Emotions influence how decisions are formulated. In B2B purchase, the buyer does not encounter the overall benefit of the solution and may not be compensated for making a good purchase, but a bad purchase can damage the reputation and job security of the buyer. The study of Prahalad (2004) revealed that organizational buying decisions are normally influence fear. Organizational buyers tend to reduce fear by reducing risk. Personal risk is mostly hidden from the rational process and is considered as an important factor in B2B buying. Like in quality judgments, satisfaction can result to positive WOM through an exit, voice and loyalty logic argument (Nielson, 2002). To such a degree that satisfaction has affective bases, the statement specified earlier about the influence to WOM route has validity as well (Robins, 2008). The involvement with a product certainly provides a person with the motivation and ability to come up with product-related conversations with others. Like Jantsch (2010), observed an individuals frequent engagement with a product or service brings out to overflowing thoughts and emotions that can easily recalled in WOM experiences, frequently willfully so, in order to clear out the tension or the experience. Dissatisfaction with a product presumed to be essential by the individual is particularly filled with WOM potential (Balter et al. 2009). Researchers have been able to separate several product-related factors that reduce the occurrence and extent of WOM activity. Price awareness for product, for one, has been encountered to correspond remarkably with WOM transmission. Preceding a dissatisfactory experience, individuals have demonstrated to participate in more or less WOM conversations depending on the seriousness and controllability and composure of the problem (Bowman, 2009), as well as the perceived likelihood of a favorable redress (Wilson, 2006). Positive outcomes concerning complaint handling and redress, like the diffusive and synergetic justice of the redress orientation and the convenience of recovery, can lead positive consequences for a provider as individuals have the tendency to respond to positive things about the provider (Balter et al., 2009). 2.17 Strategies for managing risks Rosen (2009) introduced three strategies for managing risk namely: Approved supplier list. B2B buyers are prone to select companies they already know. If a member from the buying centre has pre-approved a supplier, the risk is reduced even if it is not the right solution. Word of mouth for example colleagues and friends. User communities are one of the main sources of information for researching B2B purchases. A recommendation from a credible source tend to reduce risk. Word of mouth from existing suppliers. A good representative build good relationship with their suppliers to create a credible source for referrals. 2.18 Buyers seek personal recommendation The most influential channels across decision making process were blogs, word of mouth, websites, trade journals and other form of media. According to Nail (2002), organizational buyers valued WOM communication which provide a personal recommendation. 2.19 The Buying Process Bowman (2009) made the conclusion that B2B buying is a decision process driven by the emotions of the people involved. Business buyers are mostly motivated to reduce personal risk of making mistakes. The decision making process in the B2B environment is not an easy task. Generally doers are those making the purchase of the product or service. The buyer has the entire responsibility for reducing corporate risk. The presence of a broad chain of gatekeepers in organizations means determine the level of complexity in decision-making process in B2B environment. In the B2B environment, decision making process is much more puzzling where there is no specific decision-maker across organizations (Nail, 2002). Graham (2009) implied that in an organization there is a gatekeeper who is allowed to share ideas and information to the members in the buying centre. Both the doers and the buyers need to search for information in the buying process. B2B website should take into consideration the information needs of those who search the Internet. Person to person meetings are crucial to reach the emotional needs of prospects. Building credible relationship through person to person meetings with both doers and buyers is necessary in the complex decision making process. Analytical plan offer recommendations about which options and information to consider or to reject. This help the organization to facilitate decisions to their relevant core. 2.20 The impact of Social Media Robins (2008) declared that online channel, precisely the social media occupied an essential role in how research is proceeded and finally the decision on business purchases in the future. Social media like Website, Blogs or Facebook are also considered to be influential. Inactive channels like the press advertising are equally influential. Robins (2008) pointed out that decision-makers need to search social media channels for information to their actions. Colleagues and peers add value to decision and thus minimizing risks (Siguardarson, 2000). Factors like the ability to learn from experiences of others, the ability to access to information and the ability to communicate with others. According to the study of Robins (2008), B2B buyers refer to trade journals as well as professional online media for B2B decision making. The study also regards word of mouth and personal reference from professional colleagues or peers which is considered as the most influencing source in buying decisions. According to the study of Fader (2010), there is a noticeable change in the influence of supplier websites at the beginning of the purchasing process. He further characterized websites as very influential. Personal recommendation is clearly approved as the most valuable factor in B2B purchasing decisions. Channel like Trade journals, Website, Blogs and Facebook are seen as large influencers concerning the provision of information to help buyers identify potential suppliers. Buyers and deciders are personally involved in the final decision making process. The members in the buying centre regularly used word of mouth and supplier websites as sources of information (Bowman, 2009). Mass media is a mean of reaching directly opinion leader, follower or the gatekeeper (Jantsch, 2010). According to Santeller (2010), the gatekeeper is considered as a source of information to both opinion leaders and followers. The research of Hoyer et al. (2006) showed that diffusion of social of social media is increasing constantly. According to the study of Sorensen (2009), some B2B buyers prefer to use of social media channels while others refer more to traditional information channels. He further observed that B2B buyer opted for issue-based information from supplier websites as a main source of information at the beginning of the buying process. Furthermore the level of influence are reduced towards later stages.

Television Censorship in the Past and Present Essays -- Exploratory Es

Television Censorship in the Past and Present Typing in the web address "http://www.censorship.com", I begin my search for information regarding the controversial subject. After a few seconds of waiting for the site to load, a black background comes up, with black font displaying the message: "This site is not accessible because it is categorized as: Sex, Violence, Language." I immediately highlight the web address and annoyingly thrash at the delete button on my keyboard and watch it disappear. "Jeez, everything is censored nowadays!" Frustrated, I decide to take a break. I get up from my computer, drop my tired body onto the couch, and turn on the T.V. Once the picture becomes clear, I am greeted by a completely bare behind! The man yells, "You little bitch!" to his friend who has taken his pants, and a roar of laughter comes from the simulated audience on the show. The scenario shocked me, for I had just been restricted from a website because of subject matter closely related to what I was just seeing on the television I sat for a few seconds and thought about the way behavior like that was prohibited from the public eye just soon before. But why was it now being allowed to broadcast over millions of T.V. sets across the country? I realized that censorship itself, and specifically television censorship, has changed immensely through the years. Censorship, or the "prevention of disturbing or painful thoughts or feelings from reaching consciousness except in a disguised form" has been present since the Roman times ("Censorship", "History..."). The original intentions of the widespread act were to supervise the manners and morals of the people. Government officials were to exclude certain topics, groups, or religio... ...ensorship." 02 Oct 2003 17 Mar 2004 <http://www.parentstv.org/PTC/publications/rgcolumns/2003/1002.asp> "History of Censorship." 20 Mar 2004 <http://www.angelfire.com/vt2/UnitedStudents/history.html> Buchanan, Matt. "Ratings, Censorship, and Negative Criteria." 20 Mar 2004 <http://www.geocities.com/Broadway/Alley/3765/appropriate2.html> "Televised Censorship." 21 Mar 2004 <http://www.dragg.net/users/vocalofkentucky/multiculture.htm> "Television Censorship." Academic Library. 20 Mar 2004 <http://wwwacademiclibrary.com/view/Music%20and%0Movies/2682.htm> "The Long History of Censorship." Beacon for Freedom of Expression. 20 Mar 2004 <http://www.beaconforfreedom.org/about_project/history.html> "The Shadow of Incipient Censorship: The Creation of the Television Code of 1952." 17 Mar 2004 <http://historymatters.gmu.edu/d/6558/>

Inditex Case Study

â€Å" INDITEX GROUP – ARE ITS â€Å"FAST FASHION† RESULTS SPEEDING UP AGAIN AFTER RECENT SLOW DOWNS ? † This case study has been written exclusively for use on the course Strategic Financial Management FINA 1035 at Greenwich University Business School and its partner institutions. It is to be used exclusively for this purpose. No part may be copied , emailed or reproduced for any other purpose other than stated above. Much of the data and material included in the case study is taken from the annual reports and accounts of the Inditex Group, its public statements and from its website . nditex. com. All other sources are shown in the case study. Author : Scott Duncan Lecturer Greenwich University Business School July 2010 INDITEX GROUP – ARE ITS â€Å"FAST FASHION† RESULTS SPEEDING UP AGAIN AFTER RECENT SLOW DOWNS ? Intr oduction Inditex Group – the owner of the Zara fashion chain and the world’s largest clothing and apparel group in te rms of sales – reported encouraging results for its first quarter of 2010.The Financial Times reported in June 2010 1) : â€Å"Inditex lent its weight to hopes of a recovery in European demand as the continent’s biggest fashion chain delivered forecast-beating first-quarter net profits and confirmed it would be moving its fast-fashion offer online later this year. Europe’s biggest clothing chain reported a 14 per cent increase in net sales to â‚ ¬2. 66bn ($3. 2bn) in the three months to the end of April 2010, as net income rose 63 per cent to â‚ ¬301m in response to, in particular, demand for its sharp-shouldered jackets and draped harem trousers. Sales rose 13 per cent from the beginning of February to June.The uptick comes after Hennes & Mauritz in April raised hopes of recovery in the European retail sector when it also beat net profit expectations in its first-quarter results and reported signs of improvement in the market at the start of the second q uarter. Inditex has been upbeat on prospects for the current year, with Pablo Isla, chief executive, predicting that same-store sales growth should turn positive again after a negative 2008 and virtually flat 2009. Mr Isla, who sells a third of all his clothes in Spain, was even upbeat about his home market on Wednesday. [The] reality in Spain is better than the perception you may have. I personally have a strong confidence in the dynamism of the Spanish economy going forward. † The gross margin, meanwhile rose to 59. 9 per cent against 56. 9 per cent. â€Å"[It is] likely to lead to consensus upgrades,† wrote Andrew Hughes, analyst at UBS, in a note. The shares rose 5 per cent to â‚ ¬46. 11. â€Å"Despite concerns of slower sales growth into the second quarter and as the year progresses, the first quarter beat [expectations] and stronger gross margin trends should more than compensate,† Mr Hughes added.Analysts also welcomed the news that Zara, which still ma kes a third of all its sales in Spain, would start trading online at the beginning of September in its main European markets: France, Germany, Italy , Portugal, Spain and the UK. â€Å"Online should act as a downward protection for trading news in the second half,† wrote Bernstein in a note. During the period, Inditex opened 98 stores in 29 countries, taking its footprint to nearly 5,000 stores in 76 nations around the world. Last month, it opened its first Indian shop in Delhi†.Histor y of Inditex Gr oup 2) Industria de Diseno Textil (Inditex) makes disposable chic fashions that are here today and gone tomorrow. The Spanish designer-cum-retailer uses technology and an armada of designers to master cheap chic. Inditex sells on a global scale, with over 4700 shops in 76 countries under eight different retail brands each offering different customer propositions : Stor e Br and Zara Zara Kids Pull and Bear Massimo Dutti Pr imar y Offer ing Mar ket 3) and Tar get Women†™s and men’s clothes.Childrens’ clothes Young women and men’s casual and â€Å"laid back† clothes and accessories Men’s and women’s clothes for the more â€Å"sophisticated† shopper. Also sells some children’s clothes Young women’s and men’s clothes . Stores have â€Å"cutting edge† look and are meeting points for fashion, music and street art Latest trends in young women’s clothes and accessories Women’s underwear, lingerie and nightwear Items for home eg home textiles, bedclothes, bathroom and table linen, glassware, cutlery and children’s bedding Fashion accessories eg handbags , footwear, leather goods and costume jewelleryBershka Stradivarius Oysho Zara Home Uterque The firm's stores answer to popular trends by telling designers in Spain what customers are asking for locally. Inditex responds in about two weeks with new designs. Amancio Ortega Gaona, Spain's wealthiest businessma n, founded Zara in 1975 and later created Inditex as a holding company. He got his start in the clothing business at the age of 13, when he went to work for a local shirtmaker in A Coruna , Spain, delivering the shop's goods, which included lingerie and dressing gowns.Ortega worked his way up to become an assistant manager, then shop manager, by the early 1960s. These positions gave Ortega experience not only in dealing directly with customers but also in purchasing fabrics and other materials for the shop's line of apparel. Working out of his sister's home, Ortega began developing his own designs. One day in the early 1960s, he hit upon the formula that was to become central to the operations of Inditex: that of reproducing popular fashions using less expensive materials in order to sell highdemand clothing items at lower prices.Ortega left his job and set up in business with just 5,000 pesetas (the equivalent of $25). Legend has it that Ortega's first project was to remake a popul ar but expensive dressing gown. Ortega cut the pattern himself, then, with the help of his brother and sister, began producing the dressing gown at his sister's kitchen table. Ortega's first customer was his former employer at the shirtmaker's shop. Before long, Ortega began supplying the dressing gown, as well as a growing range of housecoats and lingerie, to other clothing shops in A Coruna.By 1963, Ortega had saved up enough to open his first factory. From manufacturing, Ortega soon turned to retail, launching an initial format for his housecoats and lingerie in the early 1970s. In 1975, however, Ortega, then 39 years old, hit upon the formula that was to bring him his biggest success. In that year, Ortega opened a new retail store called Zara, which featured low-priced lookalike products of popular, higher-end clothing fashions. The store proved a success, and the following year Ortega incorporated his business under the name Goasam and began opening more Zara stores in Spain.De spite the stores' growing popularity, Ortega himself remained decidedly behind the scenes, avoiding the spotlight and developing a reputation for himself as a recluse–no photographs of Ortega were made publicly available until 2001. By the early 1980s, Ortega had begun formulating a new type of design and distribution model. The clothing industry followed design and production processes that required long lead times, often up to six months, between the initial design of a garment and its delivery to retailers. This model effectively limited manufacturers and distributors to just two or three collections per year.Predicting consumer tastes ahead of time presented inherent difficulties, and producers and distributors faced the constant risk of becoming saddled with unsold inventory. Ortega sought a means of breaking the model by creating what he called â€Å"instant† or â€Å"fast fashions† that allowed him to quickly respond to shifts in consumer tastes and to ne wly emerging trends. Ortega's dream remained unfulfilled, however, until he met up with Jose Maria Castellano. A computer expert, Castellano had worked in Aegon Espana's information technology department before becoming chief financial officer for a Spanish subsidiary of ConAgra.Castellano joined Ortega in 1984 and set to work developing a distribution model that revolutionized the global clothing industry. Under Castellano's computerized system, the company reduced its design to distribution process to just 10 to 15 days. Rather than placing the design burden on a single designer, the company developed its own in-house team of designers–more than 200 by the turn of the 21st century – who began developing clothes based on popular fashions, while at the same time producing the company's own designs.In this way, the team was able to respond almost immediately to emerging consumer trends as well as to the demands of the company's own customers – for instance by add ing new colors or patterns to existing designs. State-of-the-art production and warehousing procedures, as well as the installation of computerized inventory systems linking stores to the company's growing number of factories, enabled the company to avoid taking on the risk and capital outlay of developing and maintaining a large back inventory. The leaner, more responsive company – which adopted the name of Industria de Diseno Textil S.A. , or Inditex, in 1985 – captured the attention of Spanish shoppers. By the end of the decade, the company had opened more than 80 Zara stores in Spain. The company's fast fashion model, which completely rotated its retail stock every two weeks, also encouraged customers to return often to its stores, with delivery day becoming known as â€Å"Z-day† in some markets. The knowledge that clothing items would not be available for very long also encouraged shoppers to make their purchases more quickly. The success of the Zara model in Spain led Inditex to the international market at the end of the 1980s.In 1988, the company opened its first foreign store in Oporto, Portugal. The following year, Inditex moved into the United States. Success in that market remained elusive, however, and at the beginning of the 2000s, the company had opened just six U. S. stores. A more receptive market for the Zara format existed in France, which Inditex entered in 1990. The company quickly began adding new stores in major city centers throughout the country. Through the 1990s, Inditex added a steady stream of new markets. The company entered Mexico in 1992, Greece in 1993, Belgium and Sweden in 1994, Malta in 1995, and Cyprus in 1996.In the late 1990s, Inditex stepped up the pace of its international expansion, adding Israel, Norway, Turkey, and Japan (the latter in a joint-venture with a local partner) in 1997, then, in 1998, moved into Argentina, the United Kingdom, and Venezuela. While the bulk of the group's stores remained company owned, in certain markets, such as the Middle East, starting in 1998, Inditex's expansion took place through franchise agreements with local distributors. By 2000, Inditex had added another dozen or so countries to its range of operations, including Germany, the Netherlands, and Eastern European markets including Poland.At the same time as Inditex pursued its geographic expansion, it also began expanding beyond its flagship Zara retail format. The company launched the Kiddy's Class children's wear format as a subgroup of the main Zara concept in the early 1990s. In 1991, the company added an entirely new retail format, Pull & Bear, which began providing â€Å"urban† fashions. By the beginning of the 2000s, the Pull & Bear chain had grown to 300 stores in nearly 20 countries; it also produced its own offshoot format, Often, targeting the 20- to 45-year-old men's segment, in 2003.Inditex went upmarket in 1991 when it bought 65 percent of the Massimo Dutti group. Indite x took full control of Massimo Dutti in 1995 and began building it into a chain of nearly 300 stores in 23 countries. While Massimo Dutti appealed to a more sophisticated men's and women's fashions market, the company targeted the young female market in 1998 with the creation of a new format, Bershka. That retail chain quickly evolved into a network of more than 200 stores operating in 11 countries. Inditex continued adding new formats at the turn of the 21st century.In 1999, the company acquired Stradivarius, a youth fashion chain present in nine countries. In 2001, Inditex added its lingerie format, Oysho. In 2003, Inditex moved beyond the garment trade for the first time, launching its own home furnishings concept, Zara's Home and in 2008, launched its fashion accessories chain – Uterque. Meanwhile, Inditex had begun a corporate evolution as well. As Ortega approached retirement, and no members of his immediate family appeared likely to succeed him in the business, the com pany looked to the public market to ensure its future.In 2001, Inditex listed its stock on the Bolsa de Madrid, one of the most successful initial public offerings of the year. Ortega's sale of more than 20 percent of his holding in Inditex made him Spain's wealthiest man. In 2010, he still controls 59% of Inditex’s shares (see Annex 1) and was ranked by Forbes Magazine as the 9th richest man in the world in their annual list of billionaires – up 1 place from his ranking in 2009 – with a net worth estimated at $25 billion. He is now 74 years old. Inditex moved to a new corporate headquarters in Arteixo, outside of A Coruna in 2000.In 2002, the company began construction on a state-of-the-art logistics center in Zaragoza. At the same time, Inditex continued adding to its array of international markets, opening stores in Luxembourg, Iceland, Ireland, Jordan, and Puerto Rico in 2001; Switzerland, Finland, El Salvador, and Singapore in 2002; and Hong Kong in 2003. I n the 6 years from 2004, Inditex has more than doubled its number of stores from just over 2000 in mid 2004 to over 4600 by 31 January 2010. Inditex’s financial year end is 31 January.In line with Inditex’s annual reports, this case study refers to its year ending 31 January 2010 as â€Å"Financial year 2009† or â€Å"2009†. Similar abbreviations are made for earlier years . Inditex Gr oup Stor e Number s and Locations in 2010 At financial year end for Inditex for 2009 – 31 January 2010 – Inditex had 4607 stores as follows: The analysis of Inditex’ s 2009 sales for each of its 8 store concepts was as follows : Within the total, 3983 were company managed stores and 624 were franchised – see Annex 2 for details. In 2009, 92% of sales were in company owned stores.Geographically, 1900 of the stores were in Spain, 1856 stores were in other European countries, 485 stores were in Asia and Africa and 366 stores were in North and South America – see Annex 3 for details. The Group opened 343 stores in 2009 and increased its retail network in all of Europe's major markets with noteworthy growth in Russia (37 new stores) and Poland (34). In Asia, Inditex continued its strategic push into the region’s top three markets, which posted significant growth, with 41 new stores in China, 12 in South Korea and 10 in Japan.Retail sales area increased by 8% in 2009 – see Annex 4 for details by store concept. During its first quarter 2010 from 1 February to 30 April , Inditex opened a further 98 stores as follows : This took the total number of stores to 4705 at 30 April 2010. The percentage of Inditex’s sales achieved in each geographical region for the last 3 financial years was as follows : 2009 31. 8 % 45. 7 10. 2 12. 2 2008 33. 9 % 44. 8 10. 7 10. 5 2007 37. 5 % 42. 4 10. 8 9. 4 Spain Europe excl.Spain Americas Asia The Mar ket The apparel retail industry consists of the sale of all menswear, wom enswear and childrenswear. The sector also includes footwear, sportswear and accessories. The menswear sector includes all garments made for men and boys. It includes both outer and under garments. The womenswear sector consists of the retail sale of all women's and girls' garments including dresses, suits and coats, jackets, tops, shirts, skirts, blouses, sweatshirts, sweaters and underwear .Both womenswear and menswear can be segmented by: – purpose or use of the clothing item eg casual wear, essentials, activewear, formal wear , special occasion formal wear and outerwear – age group – lifestyle eg â€Å"sporty†, â€Å"conservative † , â€Å"fashion conscious† , â€Å"hippie†, â€Å"urban†, â€Å"rural† – ethnic group styles eg Afro-Caribbean , African American , Asian or middle eastern or music group styles eg â€Å"rapper†, â€Å"reggie†, â€Å"punk†, â€Å"rocker† – price eg ranges from low price to expensive designer label to exclusive â€Å"haute couture† of Paris, Milan, London, Tokyo and New York or by a combination of these factors.The childrenswear sector is defined as sales of garments for children between the ages of 0-2 years. The socio-political environments coupled with the need for individual and group identity makes retail clothing essential to consumers. Style, however, is an abstract concept that defines individuals, is often an extension of personality and therefore highly individualized. Fashion, by its very nature, is unpredictable. The products are determined by trends in society, designers and creative industries and are subject to sharp and unpredictable changes.Where customer brand loyalty exists, it is more likely to be to the designer than the retailer, although this is usually towards the top end of the industry. Counterfeiting of brands is a problem in parts of the clothing and accessories industry. Mar ket in Eur ope T he European apparel retail industry grew by 2. 1% in 2008 to reach a value of â‚ ¬287. 7billion ($420. 9 billion). Its recent history per Datamonitor 4) was as follows : The consumer market for clothing and footwear in the European Union (or EU) has undergone important changes in recent years 5).Arguably, the greatest impact has come from market forces under the auspices of the World Trade Organisation (WTO) as a ten-year transitional Agreement on Textiles and Clothing (ATC) came to an end with the abolition of textile and clothing import quotas on 31 December 2004. With the removal of quotas, there was an initial increase in relatively cheap imports of clothing and footwear into the EU, mainly originating from China. For example, in the first 40 days after the end of the ATC, imports of trousers from China were 3. 3 times higher than during the whole of 2004 and imports of pullovers 4. times higher. A bilateral agreement between the EU and China (the so-called Shanghai Agreement ) on a further, transitional period during which the growth of imports of clothing could be managed through until the end of 2007 was agreed in June 2005. In addition to trade developments, consumer groups and other bodies are increasingly holding manufacturers and retailers accountable for ensuring that social standards and working conditions of their suppliers meet international labour standards. There are examples of retailers responding to this pressure.For example, in October 2007 the Inditex group signed an International Framework Agreement on corporate social responsibility with the International Textile, Garment and Leather Workers’ Federation (ITGLWF), which expresses the company’s commitment to respect fundamental rights at work throughout their entire production chain. Fair trade garment initiatives have also been taken, generally to ensure that a fair price is paid to producers who meet minimum social, and in some cases environmental, standards and that tra ding relationships between producers and buyers are more equal, rather than guaranteeing core labour standards.There has also been a response within the EU to concerns about environmental and safety issues. These concerns have predominantly focused on the use of chemicals (such as dyes, pigments or bleaches in the clothing manufacturing process) and on waste water discharge. On 1 June 2007, new legislation on chemicals and their safe use came into force across the EU. REACH (Registration, Evaluation and Authorisation of Chemicals) aims to improve the protection of human health and the environment through the better and earlier identification of the intrinsic properties of chemical substances.Within the EU 5) : – household expenditure on clothing and footwear accounted for 5. 7% of total household consumption expenditure in 2005 – The vast majority of this, almost three quarters, was spent on clothing garments – Spending on clothing and footwear tended to rise as a function of income, with the upper income 20 percent in the 27 countries of the EU devoting 6. 1% of their total household budget to these products, while those in the lowest income 20 percent spent 5 % – the share of total expenditure spent on clothing and footwear was generally much higher among households with dependent children, rising to 7. % of the household budget for those households comprising two adults with dependent children, compared with 4. 6 % of the budget for single persons. – Annual expenditure on clothing and footwear averaged â‚ ¬800 per person in the 27 countries of the EU in 2006, with national averages ranging from â‚ ¬100 per person in Romania to â‚ ¬1200 per person in Italy . See Annex 5 for details of 2000 and 2006 expenditure per person. – Over the period from 2000 to 2006 , the volume of clothing and footwear bought rose in most countries of the EU particularly in the United Kingdom and Poland where volumes increased by ov er 40%.In contrast , Germany and Italy reported declines in the volume of clothing and footwear bought (the only member states of the EU to do so). Details are shown at Annex 6 for the 6 countries which account for over 70% of the EU’s population – Germany, France, Italy ,UK, Spain and Poland . – Over the same 2000- 2006 period, whilst consumer prices for clothing and footwear declined by 0. 1% for the EU overall, there were substantial differences in the â€Å"Top 6† countries listed above.The UK recorded price decreases of over 20% , Poland of over 15% and Germany of over 2%, whilst price increases were recorded in Italy (over10%) , Spain ( over 13%) and France ( 1%) – see Annex 6. – Between 2007 and 2008 , the volume of clothing and footware bought in the EU overall declined by 0. 5% . France , Italy and Spain recorded declines of over 2% whilst Germany , UK and Poland recorded increases – see Annex 6. – In 2008 , UK househo lds spent less on average per week on clothing and footwear than at any time since 2001-02 6) – Early indications are that volumes also fell in 2009 versus 2008 in Europe.France reported a year on year decline of 3. 6% . a) Mar ket Segmentation by Gender and Age Womenswear sales dominated the European apparel retail industry in 2008 4) generating 54. 4% of the industry's overall revenues – â‚ ¬157 billion ($ 229 billion) . Menswear accounted for 30. 9 % – â‚ ¬89 billion ( $130 billion)- and Infantswear the remaining 14. 7%. Details of womenswear market growth and segmentation in Europe are shown at Annex 7 and of the menswear market in Europe at Annex 8. b) Analysis by Major Countr y Italy accounts for 19% of the European apparel retail industry's value , Germany 18. % and the UK 14. 4% . Shares for other countries are shown below: c) Mar ket Value For ecast The European apparel retail industry was forecast by Euromonitor to grow by only 1. 3 % in 2009 ver sus 2008 – including price changes. In 2013, the European apparel retail industry is forecast to have a value of â‚ ¬320 billion ($467. 6 billion), an increase of 11. 1% from 2008. Details are shown at Annex 9. d) Retail Sour ce of Pur chases Consumers in Europe are able to purchase clothing and footwear from a wide variety and large number of retailers, specialised and non- specialised.Specialist clothing and footwear retailers comprise chains (such as H, C or Zara) and independent clothes stores. Nonspecialist retailers include department stores (that have clothing and footwear departments), hypermarkets and supermarkets, as well as mail- order retailers. According to Datamonitor, 69% of purchases of womenswear and 55% of purchases of menswear in 2008 was in chains or independent specialist clothing, footwear and accessories shops . Purchases at hypermarkets, supermarkets and discounters accounted for 19. 5% of womenswear sales and 12. 1% of menswear with department stor es taking a 6. 9% of womenswear and 24. % of menswear in 2008 ( see Annexes 7 and 8). There are generally higher levels of retail concentration in northern Europe5). The overwhelming majority of clothing and footwear sales in Germany, France and particularly the United Kingdom are made in non-specialist stores. The popularity of independent clothing and footwear retailers is considerably higher in southern Europe. For example, in Italy and Spain, the highest proportion of clothing sales was among independent retailers (65% and 53 % respectively in 2004), and this tendency was even stronger in terms of footwear (76 % and 88 % respectively in 2003).Despite these differences, clothing markets in Europe are generally becoming more concentrated, as clothing chains, department stores and supermarkets/ hypermarkets selling clothing and footwear open additional outlets in many of the countries that have joined the EU since 2004. Indeed, the structural make-up of clothing retailers in the EU has changed considerably over the past 15 years, according to a 2007 report on ‘Business relations in the EU clothing chain’ carried out for and funded by the European Commission 5).The market share of independent retailers in the five largest EU markets (Italy, Spain, France, Germany and the United Kingdom, that together account for almost three quarters of the EU’s clothing market) declined from 46. 8 % of total clothing sales to 27. 1 % by 2007. In contrast, there was steady growth in the share of speciality chains (from 18. 7 % to 25. 1 %), hypermarkets and supermarkets (5. 1 % to 6. 8 %) and emerging formats such as variety stores and large sports chains (whose share of clothing sales collectively rose from 14. 0 % to 27. 2 %).A recent survey on consumer satisfaction 5) provides further information on the shopping habits of European consumers for clothing and footwear. More than half (55. 7%) of those surveyed in the EU in 2008 replied that they themselves or a member of their household had bought clothing and footwear in a retail chain store, a somewhat higher proportion than for small, independent clothing retailers (50. 2 %). Department stores (30. 7%), supermarkets/ hypermarkets (23. 0 %) and street markets (16. 3 %) were also popular places for buying clothes and footwear – see Annex 10.Furthermore, compared with a number of other products, a relatively high proportion of European consumers used mail or phone order (8. 0%) or the Internet (6. 1 %) to purchase clothing and footwear. When purchasing clothing and/or footwear in 2008, 10. 9 % of EU consumers reported facing at least one problem 5). The most common complaint was product quality (69% of unsatisfied customers) followed by problems returning unwanted goods (9. 2% of respondents) then quality of service provided (8. 8% of respondents). Details are shown at Annex 11.This data also provides an insight into consumers’ priorities when purchasing clothing and foo twear . Mar ket in USA Americans spent almost $326 billion on clothing and footwear in 2009 equivalent to only 2. 98% of disposable personal income – the lowest ever in U. S. history. Spending on clothing as a share of income has fallen in 20 out of the last 22 years, from 4. 78% in 1988 to less than 3% in 2009 – see Annex 12 for details . Quality, variety and availability have all improved over the years . The same applies to footwear.Since 1992, prices in general have risen by 57%, while prices for clothing have fallen by 8. 5% – see annex 13. With significantly falling prices in real terms, clothing has become more and more affordable almost every year, requiring smaller shares of US household income. This has freed up disposable income that can now be spent on other consumer goods (eg electronics, travel, entertainment, etc. ). Mar ket in Asia Pacific 7) The Asia-Pacific apparel retail market has been growing at a robust pace for the last few years. The Asia -Pacific apparel retail industry generated total revenues of $224. million in 2008, representing a compound annual growth rate (CAGR) of 4. 1% for the period spanning 2004–08. The performance of the industry is forecast to improve further and to reach a value of $259. 6 million by the end of 2013. Key Retail Competitor s Inditex’s key competitors in Europe include : Hennes and Mauritz ( H ) Levi Strauss ( via franchised and company managed stores and third party retailers) Adidas sportswear ( including Reebok ). In the UK, key competitors include Primark ( a division of Associated British Food) , Next, and Marks and Spencer . ASOS. com is a major retailer of men’s nd women’s clothes and accessories via the internet and is now the UK’s largest independent on-line fashion retailer. Worldwide, key competitors also include Gap and â€Å"Fast Retailing† (Japanese parent company of Uniqlo and Asia’s biggest clothing retailer). In terms of s ales value, Inditex overtook Gap in 2009 and is now the world’s largest clothing and apparel retailer. Summary financial profiles of Hennes and Mauritz, Levi Strauss , Primark and Gap are shown at Annexes 14 ,15 and 16. A recent article about the current prospects for â€Å"Fast Retailing† is shown at Annex 17. Manufactur ing Sour ces – Gener alKey suppliers to the retail clothing industry are clothing manufacturers and wholesalers, with retailers able to source from both. Recently, significant increases in power cost, dyes & chemical cost and rapidly rising cotton cost have strengthened supplier power in an industry that relies on the availability of raw material. The wholesale and clothing manufacturing sectors in most countries, however, are fairly fragmented. As international trade liberalizes, clothing manufacturers in the developed regions such as Europe and America face substantial competition from manufacturers in low-wage regions such as Asia eg from Ch ina. Apparel manufacturing is almost always labor intensive, due to the difficulty of automating processes such as the sewing of garments. ). Key issue for clothing retailers in selecting its suppliers include : – price and quality – volumes – the ability of its suppliers to cope with sudden changes in demand in an industry susceptible to changes in fashion – social, political and environmental pressures to ensure that suppliers in developing countries meet minimum international ethical standards for working, social and environmental conditions.Many major retailers such as Inditex, Gap and Primark now undertake regular audits of their suppliers to ensure that such standards are met and maintained and report their findings as part of their corporate social responsibility in their annual reports. Manufactur ing Pr ocesses The key processes used in garment manufacture are as follows: Cloth manufacturing ( eg cotton or wool) – spinning – weaving – dyeing – pattern printing – finishing. Certain aspects are labour intensive eg sewing . Garment manufacturing from the finished cloth: – cutting – sewing and assembly – buttons and accessories attachment.There have been many technological developments in materials used over recent years including non-iron shirts, washable silk and man- made fibres. Key Aspects of the Inditex Business Model 3) A) Over view The Inditex business model has a high degree of vertical integration compared to other models developed by its international competitors. It covers all phases of the fashion process: design, manufacture, logistics and distribution to its own managed stores and has a strong customer focus in all its business areas.The key element in the organisation is the store, a carefully designed space conceived to make customers comfortable as they discover fashion concepts. It is also where Inditex obtains the information required to adapt the offer to meet customer demands. The key to this model is the ability to adapt the offer to customer desires in the shortest time possible. For Inditex, time is the main factor to be considered, above and beyond production costs.Vertical integration enables Inditex to shorten turnaround times and achieve greater flexibility, reducing stock to a minimum and diminishing fashion risk to the greatest possible extent. B) Design The success of Inditex’s collections lies in the ability to recognise and assimilate the continuous changes in fashion, constantly designing new models that respond to customer desires. Inditex uses its flexible business model to adapt to changes occurring during a season, reacting to them by bringing new products to the stores in the shortest possible time.The models for each season -over 30,000 in 2009 – are developed in their entirety by the creative teams of the different chains. Over 300 designers -200 for Zara alone- take their main inspiration from both the prevailing trends in the fashion market and the customers themselves, through information received from the stores. C) Manufacturing A significant proportion of production takes place in the Group’s own factories, which mainly manufacture the most fashionable garments.The Group takes direct control of fabric supply, marking and cutting and the final finishing of garments, while subcontracting the garment- making stage to specialist firms located predominantly in the North-West of the Iberian peninsula. The Group’s external suppliers, a high percentage of which are European, generally receive the fabric and other elements necessary for making the clothing from Inditex. The number of garments produced and available for sale at Inditex’s stores has grown as follows from financial years 2005 to 2009 :On 31 January 2010, Inditex had a network of 1,237 suppliers with which it maintains stable relationships and which are governed by its External Manufacturers and Workshops Code of Conduct. This code describes the minimum ethical, working practice, quality, safety and environmental standards expected of its suppliers and must be accepted to maintain commercial relations with the Group. Further details of Inditex network of suppliers is shown at Annex 18. Inditex audits its network of suppliers regularly and ceased using 145 suppliers in 2009 and 175 in 2008 because of their non-compliance.In 2008, the manufacturing sources in terms of volumes of garments produced for Inditex were as follows : 46% 11% 36% 5% 2% European Union Non –EU Europe Asia Africa Americas D) Logistics All production, regardless of its origin, is received at the logistical centres for each chain, from where it is distributed simultaneously to all the stores worldwide. The distribution takes place twice a week and each delivery always includes new models, so that the stores are constantly refreshing their merchandise and offer.The logistics system, based on soft ware designed by the company’s own teams, means that the time between receiving an order at the distribution centre to the delivery of the goods in the store is on average 24 hours for European stores and a maximum of 48 hours for American or Asian stores. Inditex logistics centres are located in Arteixo (A Coruna), Naron (A Coruna), Zaragoza, Meco (Madrid), Tordera, Palafolls and Sallent de Llobregat (Barcelona), Leon and Elche (Alicante).Together, their surface area exceeds one million square metres. Further details are shown at Annex 19. In 2008, 700 million garments were distributed by 5000 employees at Inditex logistics centres. E) Stor es In Inditex, the point of sale is both the end and start of its value adding processes, as the stores act as market information gathering terminals, providing feedback to the design teams for each of the 8 formats and reporting the trends demanded by customers. As retailers, the stores constitute the chains’ main advertising medi um.Their chief characteristics include: – Preferred locations in the world’s main shopping streets – Meticulously designed window displays – Unique internal and external store design – Tailored coordination and display of the product – Excellent customer service. The main development strategy for the Inditex sales formats is the opening of stores managed by companies in which Inditex is the sole or majority shareholder. In 2009, 86% of stores were own managed. In smaller or culturally different markets, the Group has extended the store network through franchise agreements with leading local retail companies.The main characteristic of the Inditex franchise model is the total integration of franchised stores with own managed stores in terms of product, human resources, training, window- dressing, interior design and logistical optimisation. This ensures uniformity in store management criteria and a global image in the eyes of customer around t he world. F) Other Aspects of Mar keting 1) Internet Each of Inditex’s 8 store formats has its own website and these are constantly updated with the latest fashion offerings. In 2009 , the store websites were launched and included in social networking websites. 2) Affinity cardThe Intitex Affinity Card is the Group’s payment and loyalty card valid for its holders in any Group establishment: Zara, Massimo Dutti, Bershka, Pull and Bear, Stradivarius, Oysho, Zara Home and Uterque. Available in Spain for more than 15 years, the Affinity Card is also held by customers in Mexico and Greece where it was launched in 2007, and in Portugal where it has been available since 2008. Currently there are more than a million Affinity Card holders in these four countries. All of them have a card that offers financial advantages and methods of payment based on the holders’ needs. Inditex Financial Per for manceA summary of Inditex’s financial performance over the last 6 yea rs is as follows : Details of Inditex’s : – P for 2006 to 2009 are shown at Annexes 20-22 – sales and contributions by store format are shown at Annex 23 – balance sheets for 2006 to 2009 at Annexes 24 and 25 – 2006 to 2009 cash flow statements at Annexes 26 and 27. Details of Inditex’s 1st Quarter financial results for 2010 are shown at Annexes 28 and 29. Boar d of Dir ector s Shareholders approved the 2009 report at Inditex’s July 2010 Annual General Meeting including the proposed dividend of â‚ ¬748 million – up 13% on the previous year.Inditex’s share price closed at â‚ ¬51. 20 on 29 July 2010 – up 38% on its price of â‚ ¬38 a year ago – see Annex 30. The board of Inditex consisted of 9 Directors as at 31 January 2010 – 3 Executive Directors and 6 Non Executive Directors. The Executive Directors are : Amancio Ortega Gaona ( Chairman) Pablo Isla Alvarez de Tajera ( CEO and 1st Deputy Chai rman. Appointed to board in 2005) – Antonio Abril Abadin ( Board Secretary and General Counsel). Their total remuneration was â‚ ¬4. 35 million in the year ended 31 January 2010. The senior management of Inditex who are not executive directors is shown at Annex 32.Their total remuneration was â‚ ¬10. 9 million in the year to 31 January 2010. Details of the board including the 6 non executive directors are shown at Annex 31. – Employees Inditex is a multi-cultural and multi-racial company with 92,301 employees at 31 January 2010 representing more than 140 nationalities. On-going training plays an essential role, particularly that of store staff. This training, which also includes basics in customer service, focuses on specialist knowledge of fashion trends and the ability to seize and interpret the information that store staff receive from customers every day.The number of employees has grown as follows : The largest percentage are employed in the stores as follow s : Inditex directly owns 13 textile manufacturing companies in Spain and 12 logistic companies including one for each of its 8 store formats. Inditex also has its own in-house building contractor and several companies to manage its store and other properties. These companies are wholly owned by Inditex and their financial results and employee numbers are fully consolidated in those of the Inditex group. In 2009 : – 81. 4% of Inditex’s employees were female – 18. % were male – 40% of employees were full time – 60% were part time. Inditex’s Str ategy At his presentation at the July 2010 AGM, Inditex’s Deputy Chairman and CEO, Pablo Isla underscored confidence in the Inditex business model and its clear strategic focus on international expansion, currently targeted at European and Asian markets. He confirmed that Inditex has earmarked about â‚ ¬570 million in capital expenditure to open between 365 and 425 new stores in its financial year 2010 of which approximately 95% will be in Inditex’s international markets outside Spain.Some 70% of the appropriate contracts have been signed although in some cases openings may be delayed until 2011. The planned increases by store format are as follows: â€Å"Our priority is to focus growth in Europe and Asia,† said Isla. â€Å"We see significant opportunities in Eastern Europe and the Russian Federation, and there is a great potential to expand profitably in Europe for many years, as our market share is below 1% in most countries. † He said the main areas of growth for Asia are China, Japan and South Korea. â€Å"We see huge long-term potential for Inditex in Asia markets,† he said.Over the next three years, the company expects to see space growth of between 8% and 10%. Isla was asked earlier by analysts why they aren't paying out an even bigger portion of net income in dividends given the group's huge cash balance. â€Å"Our main priority is t o invest in the future growth of the business. We always want a high level of flexibility – we always wanted more steady growth in the dividend, rather than big jumps,† he said. He also confirmed that Zara will start online sales in France, Germany, Italy, Portugal, Spain and the UK on 2 September, 2010.Key Issue to be Consider ed Is Inditex’s current strategy likely to succeed . If so why ? Or do you conclude that the strategy needs to be adjusted in light of your analysis of this case study ? If so, what changes do you propose and why ? References : 1) 2) 3) 4) FT article 9 June 2010 Answers. com 2010 Inditex Press dossier 2009 Datamonitor â€Å"Apparel retail in Europe† August 2009 . The industry value is calculated at retail selling price (RSP), and includes all taxes and levies. The data for Europe includes Russia, Poland, Czech Republic, Hungary, Romani and Ukraine.All currency conversions in the Datamonitor report and forecasts have been calculated at constant 2008 annual average exchange rates. 5) European Commission report â€Å" Consumers in Europe† 2009 published by Eurostat 6) UK Office for National Statistics January 2010 7) Datamonitor report â€Å"Apparel retail in Asia Pacific† August 2009 Shar eholdings of Dir ector s in Inditex as at 31 J anuar y 2010 Annex 1 Annex 2 Annex 3 Page 1 Annex 3 Page 2 Annex 4 Sales Ar ea by Stor e Concept – Squar e Metr es Totals 2,180,889 1,914,493 EU Expenditur e on Clothes and Footwear – â‚ ¬ per head 000 Countr y EU (27 countries) 700 Belgium 700 Bulgaria N/A Czech Republic 200 Denmark 800 Germany 800 Estonia 200 Ireland 900 Greece 600 Spain 600 France 700 Italy 1100 Cyprus 800 Latvia 200 Lithuania 100 Luxembourg1100 Hungary 100 Malta 500 Netherlands 800 Austria 1100 Poland 200 Portugal 600 Romania N/A Slovenia 400 Slovakia 100 Finland 600 Sweden 700 United Kingdom 1000 Memo : Turkey 300 Iceland 1100 Norway 900 Switzerland 900 2006 800 800 N/A 300 N/A 8 00 400 900 800 700 700 1200 900 N/A 400 1100 200 400 800 1100 200 N/A 100 500 200 800 N/A 1100 300 1100 N/A 900Annex 5 Source : â€Å"Consumers in Europe† 2009 edition published by Eurostat , the statistical office of the European Commission Pr ice and Volume Changes within Household Expenditur e on Clothing and Footwear – EU Aver age and Selected Countr ies (a) Annex 6 Germany France Italy UK Spain Poland EU Average (b) Cumulative Percentage Price Increase/(Decrease) 2000-6 (2. 6) % 0. 1 10. 4 (23. 5) 13. 3 (15. 7) 0. 1 % Cumulative Percentage Volume Increase/(Decrease) 2000-6 (1. 7) % 5. 8 (8. 3) 44. 5 2. 7 44. 3. 5 % Percentage Volume Increase/Decrease) 2006 -7 2007 -8 3. 1% 1. 7 0. 1 2. 7 4. 5 4. 5 2. 0% 1. 4 (2. 1) (2. 6) 4. 4 (2. 5) 11. 2 (0. 5)% (a) = The 6 countries account for over 70% of total EU population (b)= over the 27 member countries Eur opean Mar ket for Womenswear Annex 7 Annex 8 Eur opean Mar ket for Menswear Eur opean Appar el Mar ket Value For eca sts Annex 9 Page 1 Eur opean Appar el Mar ket Value For ecasts Annex 9 Page 2 EU Clothing and Footwear Sour ces of Pur chase 2008 Annex 10Note that these figures relate to trips made by consumers purchasing clothing and footwear, and they do not reflect the average expenditure or value of sales made in each retail format Customer Complaints – Pr oblems faced by Consumer s when Pur chasing Clothing or Footwear in the EU in 2008 Per centage shar e of those exper iencing pr oblems (multiple answer s allowed) Annex 11 Source: ‘Retail satisfaction survey’, IPSOS for the European Commission, August/September 2008 USA Clothing and Footwear Mar ket Annex 12 Annex 13USA Mar ket – Consumer Pr ice Index Changes Annex 14 Summar y Financial Pr ofiles of Selected Appar el Retailer s H – 1738 stores in 33 countries as at November 2008 Levi Strauss Gap Latest results for Gap for its financial year ended 31 January 2010 (â€Å"Fiscal Year 2009†) are shown in next annex . At average 2009 calendar year exchange rates of US $ 1. 3948 = â‚ ¬1 , Gap’s net sales totalled â‚ ¬ 10,179 million in 2009 – some â‚ ¬900 million lower than Inditex’s sales of â‚ ¬11,083 million for the same period ended 31 January 2010 .January 2010 average exchange rate was US$ 1. 4272 = â‚ ¬1 Exchange rate source : Banque de France Annex 15 Source : The Gap Inc. annual report and accounts Annex 16 Number of stores : 191 Number of stores opened in year : 12 – 5 in Spain -4 in the UK – 1 in each of Netherlands, Germany and Portugal ( first Primark stores in each country) Planned store openings in next year : 11 ( including first store in Belgium) Selling space : 5. 9 million square feet – an increase of 9% versus prior year Pr imar k – Key Data for Year Ended 12 September 2009Revenue for year : ? 2314 million ( ? 1933 m in prior year) Year on year sales growth : 20 % – partly increase in selling sp ace – partly like- for- like sales growth of 7% Operating profit for year : ? 252 million ( ? 233 million in prior year) Source : ABF annual report and accounts Annex 17 Cur rent Prospects for Uniqlo’s parent â€Å"Fast Retailing† Tadashi Yanai – the president of Fast Retailing, Japan’s wealthiest man (net worth $9. 2bn), has seen the value of his 27 per cent holding in the Uniqlo parent fall by more than a quarter this year.That’s a slump three times worse than the benchmark, making Asia’s biggest clothier the worst-performing retailer across the region. Having watched new lines like polo shirts and jeans fail to fly off the shelves, even after steep price cuts, Yanai-san is now betting big on camisoles, leggings and Silky Dry, a summer version of its blockbuster heat-trapping underwear. This is no ordinary lean spell sales growth slowed the most in four years in the three months to May, causing Fast Retailing to trim its net income estimate for the year ending August by 5 per cent.Nimbler rivals such as United Arrows (up 22 per cent since the beginning of the year) and Honeys (+143 per cent), both between 30-40 times smaller by market capitalisation, will want to ensure Uniqlo’s discounting continues. For all its determination to build overseas – this year it added stores in China and Russia to its UK, US, France and South Korean portfolios – the company is on course to get 95 per cent of this year’s operating income from anaemic Japan. It remains a hard stock to divest, though.Not only are Fast Retailing’s returns on invested capital consistently about 50 per cent better than peers’, it is that rare thing in Japan: a stock worth a fifth more today than it was ten years ago (over which period the Nikkei has shed more than two-fifths). BACKGROUND NEWS Japan’s Fast Retailing on Thursday cut its annual outlook for the first time in three years after the breakneck p ace of growth at its Uniqlo budget fashion chain came screeching to a halt in recent months, reports Reuters.Fast Retailing enjoyed strong sales last year even as other retailers were hit by weak consumer spending, attracting thrifty shoppers with hit products like heat-trapping underwear and savvy marketing. But Uniqlo’s same-store sales have been on the decline in the second half of the current financial year to August 31st, which some analysts see as a sign that the recent round of robust growth has run its course. Source – FT article Published: July 8 2010 Annex 18 Details of Inditex Suppliers Key supplier countries include Bangladesh, India, Turkey, Morocco , Spain, Portugal and Cambodia (Source : 2008 annual report)Annex 19 Inditex Logistics Centr es in 2009 Inditex Pr ofit and Loss Account for Financial Year s 2009 and 2008 Annex 20 Notes refer to details in Inditex annual report for 2009 – see Inditex. com/investor relations/annual reports/2009 Operating Expenses consisted of 2009 – â‚ ¬m 2008 – â‚ ¬m 2007-â‚ ¬m 2006- â‚ ¬m Staff costs 1,791 1,703 1,473 1,251 Store property 1,134 1,028 855 718 rental costs Other Store 1,027 976 898 831 operating costs, logistics and general overhead costs a) 3,953 3,708 3,226 2,800 a) = Including transportation of merchandise from logistic centres to stores Annex 21Details of â€Å"Financial Results† shown in Inditex P& L â€Å"Financial Results† shown in the consolidated P& L consist of ( â‚ ¬000) : And for 2007 and 2006 : Inditex Pr ofit and Loss Account for Financial Year s 2007 and 2006 ( in â‚ ¬000s) Annex 22 Net Sales Cost of merchandise Gross Profit Operating Expenses Other net operating expenses & income Oper ating Pr ofit (EBITDA) Amortization and Depreciation Oper ating Pr ofit (EBIT) Financial Results Equity Accounting Losses Income Befor e Taxes Income Tax Net Income Net income attributable to minority interests Net Income Attr ibutable to t he Par entEarnings per share (â‚ ¬cents) Notes refer to details in Inditex annual report for 2007 – see Inditex. com/investor relations/annual reports/2007. Details of Operating Expenses and â€Å"Financial Results† are shown in earlier annexes Sales and Pr ofit Contr ibutions by Stor e For mat 2007- 2009 Store Format No. of Stores at 31 Jan 2010 1608 626 497 651 515 392 261 57 4607 Net Sales in Financial Year 2009 â‚ ¬m 7077 771 790 1177 702 280 243 44 11084 Annex 23 Zara (incl Zara Kids) Pull and Bear Massimo Dutti Bershka Stradivarius Oysho Zara Home Uterque TotalsOperating Profit EBIT in 2009 â‚ ¬m 1105 101 117 196 149 38 25 (2) 1729 Store Format No. of Stores at 31 Jan 2009 1520 583 470 591 456 374 239 31 4264 No. of Stores at 31 Jan 2008 1361 519 426 510 381 290 204 0 3691 Zara (incl Zara Kids) Pull and Bear Massimo Dutti Bershka Stradivarius Oysho Zara Home Uterque Totals Store Format Net Sales in Financial Year 2008 â‚ ¬m 6824 720 722 1026 633 242 2 22 17 10407 Net Sales in Financial Year 2007 â‚ ¬m 6264 614 696 925 521 213 201 0 9434 Operating Profit EBIT in 2008 â‚ ¬m 1067 119 108 155 144 21 14 0 1628 Operating Profit EBIT in 2007 â‚ ¬m 1091 99 106 154 119 40 16 0 1625Zara (incl Zara Kids) Pull and Bear Massimo Dutti Bershka Stradivarius Oysho Zara Home Uterque Totals Inditex Balance Sheets for Financial Year s 2009 and 2008 Annex 24 Notes refer to details in Inditex annual report for 2009. The share capital of Inditex amounts to â‚ ¬93. 5 million divided into 623. 3 million shares each with a par value of 15 Eurocents – fully subscribed and paid – at 31 January 2010 . This has remained unchanged since Inditex’s financial year 2006 Inditex Balance Sheets for Financial Year s 2007 and 2006Annex 25 Notes refer to details in Inditex annual report for 2007 Inditex Cash Flow Statements for 2009 and 2008 Annex 26 Annex 27 Inditex Cash Flow Statements for 2007 and 2006 Inditex Gr oup P& L for 1st Qua r ter s 2010 and 2009 Annex 28 Annex 29 Inditex Gr oup Balance Sheet for 1st Quar ter s Ending 30 Apr il 2010 and 2009 Inditex Shar e Pr ice fr om August 2009 to J uly 2010 Annex 30 Source : Inditex. com/ Investor Relations Annex 31 Boar d of Dir ector s of Inditex as at 31 J anuar y 2010The 6 Non Executive Directors are : – Flora Perez Marcote ( representing Gartler S. L. , the holding company controlled by Mr Ortega Gaona and owning just over 50% of Inditex’s shares) – Carlos Espinosa de los Monteros Bernaldo de Quiros ( board member from 1997) – Francisco Luzon Lopez ( board member from 1997) – Irene Ruth Miller ( board member from 2001) – Juan Manuel Urgoiti Lopex de Ocana ( board member from 1993) – Jose Luis Varquez Marino ( board member from 2005) Senior Management of Inditex as at 31 J anuar y 2010 Annex 32

Stationary vs. Stationery

Stationary vs. Stationery Stationary vs. Stationery Stationary vs. Stationery By Mark Nichol Writers have long been stymied by the resemblance between stationary and stationery, or by ignorance of the fact that distinct words exist to describe the condition of motionlessness and the class of materials for written correspondence. Progress may make this point moot, because our society is slowly but inexorably abandoning stationery as a medium of communication, but it’s still important to make the distinction. Stationery is so spelled because it’s derived from stationer, the archaic word for a bookseller or publisher; these merchants also sold writing materials and implements. (Stationer, in turn, stems from the Latin term stationem, meaning â€Å"station,† which acquired the sense of â€Å"market stall.† Of course, the Latin word is the origin of stationary, too. Something stationary is something that is maintaining its station.) Similar-looking words don’t share that direct etymology but are related. Static, as an adjective meaning â€Å"showing little change,† comes from the Greek word statikos, â€Å"causing to stand,† which was borrowed into Latin as staticus. The basis of statikos also led to stasis, which means â€Å"slowing,† â€Å"stagnation,† or â€Å"stability.† State, status, statute, statistic, and statue, as well as the suffix -stat (thermostat, and so on) and stet, the editing directive meaning â€Å"leave as it was† are all relatives of station and its derivatives. Do you have difficulty remembering when to use stationary and when to write stationery? Various mnemonic aids have been devised, the simplest of which, I think, is to think of the â€Å"ar† in stationary as are, as in â€Å"where you are.† Or remember that stationery refers to letters and envelopes and the like, and the words for those materials have es but no as. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Misused Words category, check our popular posts, or choose a related post below:Creative Writing 101Expanded and ExtendedHow Do You Pronounce "Often"?

Jurrasic Park essays

Jurrasic Park essays Jurassic Park takes place on an Island off the Coast of Costa Rica which is owned by a multimillionaire, John Hammond. On this island he has set up a genetical engineering facility which permits him and his scientist to create dinosaur from blood extracted from prehistoric mosquitos, that have been preserved in amber. Before he opens this living attraction to the public he needs specialist to approve the park. He brings them to the island and begins to show them what he has accomplished. While they are touring the island one of the computer programmers, Dennis Nedry, is secretly planning to steal dinosaur embryos from the park and sell them to a company that is trying to compete with Hammond. The only way Nedry can obtain these embryos is to immobilize the park by interrupting the parks normal function, so that he could sneak in and steal the embryos. This all takes place while the visitors are out in the park touring, and in the mist of a terrible storm. After Nedry has executed a virus in order to steal the embryos the storm hits, and the park power goes out. As the power goes out the visitors to the island are stuck in the middle of nowhere, with an escaped T-Rex. Everyone flees and is scattered through the park. The animals begin attacking the control building, while they are search for food. Since all the power is out there is no way to stop them, or containing them. In the hysteria a scientist , Wu, discovers that the dinosaurs have been mating, which they thought wasn't possible, because they were only cloning females, but the dinosaurs have adapted and have found a way to reproduce. They think they got the power back on so they try to put all the animals back in their holding areas. Little did they know that the whole time the park was running on auxiliary power, and once this power ran out they could not restore the main power. When all the power finally ran out the ...

Implication of Extinction of Bengal Tigers Assignment

Implication of Extinction of Bengal Tigers - Assignment Example The Bengal tigers were once very common across Asia from Turkey to the west to the Eastern coast of Russia but have greatly reduced in the past 100 years and now remain in few Asian countries like India, Bangladesh, Bhutan, and Indonesia where they still face constant threat of extinction (Bhattarai & Kindlmann, 2012). Some cultures in Asia believe that powdered tiger bones have medicinal value and this has been one of the reasons for the poaching of tigers in India to get their bones. The other reasons for poaching of Bengal tigers is to get their Skin, teeth, skin, and claws which are in great demand in Asia. The tiger habitat is also at great risk due to human activities including conversion of forests into agricultural land, commercial tree logging and human settlement, which is greatly affecting the survival of tigers. Depletion of prey is also a factor contributing to the extinction of Bengal Tigers, as there are increased tiger attacks on livestock and humans resulting to into lerance of tigers from the surrounding communities in India (Borthakur, et al., 2011). The extinction of Bengal Tigers in India will, however, have strong and far-reaching consequences on biodiversity in India. This is because the disruption or elimination of one element from a fragile ecosystem causes an imbalance that not only affects the food chain but also the local communities and also other species that share the tiger habitat (Bhattarai & Kindlmann, 2012). Kindlmann, 2012). This is in agreement with what the Nobel laureate and environmentalist, Prof Wangari Mathai, once said that nature is very unforgiving and if you destroy nature, it will destroy you. The tiger being a carnivore is at the top of the food chain in all its habitats and helps to keep the population of its prey, most of which are vegetarians, such as the deer, antelopes, and wild pigs in check. If the tigers get extinct, the population of these animals will grow uncontrollably resulting into an imbalance (Chapr on et al., 2008). The increased population of these vegetarian would ravage the vegetation in the forest and this would make the place inhabitable for small animals and insects. The insects would then move to the farmland, which would greatly effect on vital food sources that human beings depend on for survival thus negatively affecting on human population. If vegetation can no longer grow in the jungle, the soil in the jungle would soon lose its fertility and eventually the jungle would lose its life to become a wilderness. The extinction of the Bengal Tigers in Indian forests will also lead to co extinction of other species in the forests. First, the tiger being on top of the food chain helps other animals such as birds and reptiles get food when it catches a prey. When a tiger has eaten its fill for instance from a prey, it abandons the rest which become food to the scavengers and other animals suc

Designer Babies Research Paper Example | Topics and Well Written Essays - 1000 words

Designer Babies - Research Paper Example benefits at community level such as having a strong character generation that can be of positive use to community; yet there are some ethical issues, which some people grade as un-natural and fiddling with the process of nature. But this is still debatable, as pros and cons or the results yielded by this technology can be evaluated to declare it a viable measure to adopt for having a better generation (Bliss, 2012, p.5). Designer babies’ technology, to some people is a chance for better, healthier and intelligent generation but there are few who consider it as â€Å"playing God† and trying to program a human being. Both concerns are correct in their perspectives as this technology can be used to improve lives and at the same time it can be used to harm people as well. One of the positive effects that can be achieved through this technology is that it can control the genetic diseases by creating the cures in a child way before his birth. There are a number of diseases in the world, which are still in-curable such as bubble boy, cystic fibrosis and several more. The technology ensures that viruses or the causes of these diseases are not transmitted to next generation genetically. People would not fear of transmitting deadly diseases to their next generations through genes. Baby designing gives us a vision into future where heredity diseases would be swabbed out. This technology in turn, can improve the health standards of society tremendously then as it is known today (Deane and Peters, 2003, p.38). With the advancement in technology and easy availability of baby designer technology, the genes alteration will not stop at disease treatment. Parents would definitely demand at a stage, that genes of their children be altered or selected in a way to choose their children’s skin color, level of intelligence, aptitude for making him a better child in community. The element of â€Å"Human Factor† will exist no more as everyone will be like super human having all the