Financial Risk Management Assignment Example | Topics and Well Written Essays - 3500 words

Financial Risk Management - Assignment Example The banking and financial institutions of a country are responsible for the development and progress of different sectors in the economy. They mobilize household savings and lend it to the potential investors in a country. Investments made in the business corporations help them to expand and generate more employment opportunities in a country. Thus, financial institutions and banks play a pivotal rule in the progress of a nation (Saunders and Cornett, 2011). Figure 1: Classical Banking Model (Source: PPT) Figure 1 above depicts the simplest version of banking model in an economy. However the primary task of these institutions also constitute in offering loans to only the worthy borrowers. Rise in the threshold of bad debts result in acute loss of all the related economic entities. Thus, controlling credit, interest and operational risk is one of the most important tasks conducted by all financial institutions. However, the actual framework of banking system in an economy is more comp lex, this takes into account the market securities and banking risks involved in lending operations (ECB, 2011). Figure 2: Securitization Model of Banking (Source: PPT) Figure 3: Optimization Model (Source: PPT) Risks and Challenges to the Banking Institutions The modern banking and financial institutions have faced several challenges and risks in its process. One of the primary challenges is to introduce mobile banking as regular mode in all banking activities. They have executed several operations to stimulate growth in an economy, sustaining profit levels in an environment with low interest rates etc. They have taken active measures to enhance capital quality and improve capital surplus. Modern banks have tried their best to enrich customer relationship along with restoring public confidence regarding industry. In the recent years the managers of the financial institutions are giving high importance in risk managements. In 1970’s large sums of loans were offered by the fin ancial institutions to different business enterprises in the Eastern bloc, Latin American and less developed economies, but in 1980’s it was found that many borrowers were unable to pay back their loans in time. Government in many economies have introduced the tool of Sovereign Debt Ceiling. By this rule, the borrowers are forced to be defaulters even though they comprise strong credit rating. The global financial instability is increasing with time. Financial crisis in most of the developed and developing economies have increased the credit risks faced by the banking and financial institutions. Many developed economies are suffering from huge debts and failed projects are demanding implicit bail outs from the government. Figure 4: Emerging Market Risks (Source: IMF, 2011) The above cob wed model explains the increased market risks faced by banking and non banking financial institutions in the modern era. Banks and financial institutions deal with different currencies in diff erent economies thus they are often exposed to exchange rate fluctuation risks. They also suffer from high price volatility risks. Interest rate risks faced by the commercial banks are of different types. Repairing risks are also known as the maturity risks, these are the risks that arise due to the inverse relationships between bond prices and interest rates in the market. Basis risks are the ones that arise due t

Global warming and immigration Essay Example for Free

Global warming and immigration Essay Climate change is the long term alteration of global weather patterns particularly temperature and storm activity which occur as a result of the greenhouse effect. With scholars predicting deterioration in global environmental conditions in the 21st century, we must focus our attention on the implications this situation will have particularly to human population and settlement. The resulting displacement has led to a rise in â€Å"environmental refugees† as more communities leave their homes in search of alternative sources of livelihood. (Ketel, 2004, p. 2) Immigration due to Global warming A study by the United Nations reveals that human migration caused by global warming is expected to surpass all previous displacements. The effects of flooding, desertification and environmental pollution are partly or wholly credited to global warming (Ketel, 2004, p. 15). In countries such as Zimbabwe and Bangladesh which experience perennial flooding, community based and non-governmental organizations are collaborating with the local communities to raise awareness on disaster preparedness and disaster management practices. The Zimbabwe Case study Most of north and eastern Zimbabwe has been demarcated as flood prone areas, particularly the districts of Mzarabani and Guruve located within the low lying Zambezi basin. Initially, these areas were sparsely populated due to adverse environmental conditions that rendered them uninhabitable. However after realizing that the area had a high economic potential, the government opened it up for agricultural exploitation and settlement a condition that has exposed its inhabitants to floods and mudslides. Successful undertakings Since 2008, the International Organization for Migration (IOM) has participated in relief efforts to provide assistance to families in these areas such as providing blankets, tarpaulins, mosquito nets and water purifying tablets as well as coordinating information on the number of displaced people and where they have been resettled. Community based projects have been initiated aimed at empowering the local community with the skills to withstand flooding thereby mitigating its effects. Structural measures were aimed at constructing dams and channels to control run-off during the rainy season while non-structural measures focused on resettlement, forecasting and setting aside areas to settle the displaced. (Madamombe, 2005, p. 18) In early 2007, such efforts bore fruit as hundreds of families were safely evacuated into Arda Estates of Mzarabani District following devastating floods that swept away over 600 homesteads in Chadereka Village. The displaced families were then allocated small plots within the Estates for subsistence farming while the remainder had to rely on handouts from NGOs such as Catholic Development Commission (CADEC) and IOM. Assistance required in undertaking program These projects required some level of assistance in the form of multi-sectoral meetings on flood management, funding, campaigns and governmental legislation on disaster management. The Zimbabwe government introduced the Civil Protection Act, the Water Act (1998) and the Emergency Preparedness and Disaster Management Act each aimed at addressing an action plan of action for disaster management/mitigation. Zimbabwe is also a member of the Zambezi Action Program (ZACPRO), an initiative which aims to integrate all countries lying within the Zambezi basin to utilize it as a shared resource. However, each country follows its own policy on managing its portion of the Zambezi basin. (Madamombe, 2004, p. 3) Shortcomings The Zimbabwe government faced a variety of hurdles in its resettlement efforts; inadequate funding, disease, resistance from local families and logistical barriers. The government’s expenditure on disaster management is quite minimal and hence in a major catastrophe, private sector and international community would have to be approached for assistance. (Madamombe, 2005, p. 20) Since resettlement is a recurrent process, most displaced families returned to their homes preferring to risk another flood than surrender their dignity and independence by living in resettlement camps. Conflicts due to poor vetting of displaced persons led to undeserving cases receiving handouts while the genuine cases remained in despair and uncertainty. Greater effort is therefore required in undertaking civic education to curtail the humanitarian situation from spiraling out of control. References Ketel, H. (2004). Global Warming and Human Migration: Climate Change, Human Systems and Policy. Oxford, UK: Eolss Publishers. Madamombe, E. (2004) Zimbabwe: Flood Management Practices Selected Flood prone areas Zambezi Basin. Switzerland: World Meteorological Organization/Global Water Partnership. Madamombe, E. (2005). Associated Programme on Flood Management: Overview Situation Paper on Flood Management Practices. Switzerland: World Meteorological Organization/Global Water Partnership.

Intensity Of Competitive Rivalry Marketing Essay

Intensity Of Competitive Rivalry Marketing Essay Fraser Neave Holding Bhd has 3 business portfolios which are soft drink, dairies product and property. The soft drink division has developed its own brands such as 100Plus and Seasons. Dairies product division is producing sweetened condensed milk, evaporated milk, pasteurised milk, UHT milk, juice and ice cream. FN properties is to unlock the value of land acquired and held by the company. There are external environmental factors will affect the company to achieve their mission which catogorized under PEST section. An economic factor affected the company growth which subsidy of sugar is being removed by government. Porters 5 forces used to evaluate the industry competitive environment. There are threat of new entrants, threat of substitute products, bargaining power of buyers, bargaining power of suppliers and Rivalry among existing firm. 100Plus has developed strong brand and gain 88% of market share which posted entry barrier to new entrant. Soft drink and Dairies products are very less degree of differentiation with competitors. Therefore, buyers are allowed to compare product especially price is factor buyers considered the most. Those suppliers who still getting sugar subsidy have greater power because many companies are looking for lower sugar cost. In addition, there are few big players in beverage and dairy product in the industry, the intensity of competition is very strong. GE model was applied to evaluate attractiveness of different business portfolios. Economic was used as industry attractiveness factor and brand strength as business strength. FN properties doesnt have strong brand among the property industry. But the company has strong brand such as 100Plus, Season and also sweetened condensed milk in Malaysia. However, the economic factor wasnt always favourable to all division. Efficiency and Effectiveness in utilizing liabilities in funding related assets of business portfolio is evaluated by ratio analysis. The company portfolios have high current ratio because the liabilities have reduced. And 100Plus has gain over 88% of market share in the isotonic drink segment. Introduction Fraser Neave holding Bhd. (FN) was incorporated at year 1883 when founders John Fraser and David Chalmers Neave formed a company named Singapore Straits Aerated Water Company in Singapore. Few years later, FN was consolidated and enter the food beverage industry. FN has its own vision to become the leading total beverage company in Malaysia and the region and their mission is to be a world-class multinational enterprise providing superior returns to their shareholders, excellent value for their customers and a rewarding career for their employees. FN Company is one of the Malaysia well known beverage company which the famous product is the isotonic drinks 100plus launched at year 1984. FN produce wide range of beverage that can be classified as soft drinks, dairies, non-carbonated beverages as well as separate business property. They were launching the sweetened condensed filled milk in year 1973, and the acquisition of Nestlà ©s canned milk business in Thailand and Malaysia in year 2007. Other than that FN high quality canned milk was also gain excellent reputation in Malaysia. This product is largely use as beverage mixers in coffee, tea and chocolate drinks and now canned milk has successfully to export this product to more than 20 countries around the world. In addition, the halal certification offers strong reassurance to Muslim customers in the growing Halal markets in the Middle East and Africa. FN Company was awarded The Readers Digest Trusted Brand from year 2005 to 2008, Media Magazine Top 1000 Asian Brands 2007 and so on. It proves that their customer was confident when using their products since they are concern about their health and safety quality. FN Company was continuously improve their quality and brands to challenges the marketplace and to become the leader. FN Company is also well-known company that caring about the social environment and working environment. They implemented and executed various environmental stewardship and launched numerous recycling campaigns in schools to inculcate good environmental habits among young people and thus, create awareness on the importance of recycling. FN Company also set-up a RM1.2 million funds named Chairmans Award to encourage educational excellence and to identify high-achievers among children of FN Groups employees. FN Company has accomplished a safety record of zero accident (no loss time accident) accumulated from 1 February 2007 to 21 September 2009 with a total 962 days or 2.3 million working hours. Zero environmental compliance status has achieved. FN Company has three main businesses which are soft drinks, dairy products and property. (Fn.com.my, About us) Soft Drink FN Beverages Marketing Sdn Bhd represent Malaysias largest soft drinks manufacturer and distributor. There are four manufacturing plants nationwide, including its state of the art facility at its headquarters in Shah Alam, Selangor. Their products are 100PLUS, FN Fun Flavours, FN Originals, SEASONS, Ice Mountain and Fruit Tree. The company operated in 1936 when FN Ltd obtained the franchise of Coca-Cola in Singapore and Malaysia. Later that FN Coca-Cola (M) Sdn Bhd (FNCC) was born and license agreement would end in September 2011, the company renamed as FNBM. In Malaysia, 100PLUS is a outstanding local success story, cover 90 percent share of the isotonic drinks market and also the No.1 ready to drink (RTD) brand in Malaysia. For non-carbonated portfolio, SEASONS is currently No.2 in Asian drinks category while Fruit Tree continue to grow within the juice segment. The soft drinks division perform well during the festive periods and continue to pursue world class excellence in distribution so that the products are readily available with focus on market execution. Over the years, FNBM has used few strategic measures that emphasize on its brand presence by invested in advertising and promotions, product availability and operational efficiency. In April 2010, FNBM was selected to become distributor of Red Bull energy drinks in Malaysia and has improved FNBMs beverage portfolio. (Fn.com.my, Soft drink) Dairies Products FN Dairies (Malaysia) Sdn Bhd has produced variety of products such as sweetened condensed milk, evaporated milk, pasteurised milk, UHT milk, juice and ice cream.In 1959, FNs dairy business had constructed Southeast Asias first sweetened condensed milk plant in Petaling Jaya while joint venture with Beautrice Foods of Chicago, USA. The Carnation Company from US joined the partnership in 1965 to form Premier Milk as the manufacturing arm. The Group continually pursues product innovation and invention, more products adding into portfolio and after that the Group had a successful journey into ice cream business. In 1989, the Group purchased the interests of Beatrice Foods and restructured its dairy operations under FN Dairies (Malaysia) Sdn Bhd. It was expanded further with the acquisition of Magnolia in 1995. In 1998, the Group started its pasteurised business. Today, FNs dairies division has a vision of being Malaysias leading dairy and food marketer with world class products, standards and capabilities forming part and parcel of its offerings. In 2011, FN Dairies (Malaysia) disposed off its entire ice cream business to FN Creameries (M) Sdn Bhd. (Fn.com.my, Dairies Product) Property FN Properties is one of business unit of Fraser Neave Holdings Berhad, the purpose is to further add in value of land acquired and held by the company by developing into real estate property. The very first property developed at Jalan Foss by FN is the former FN factory land that has been developed into for commercial use which called Fraser Business Park. The development is leaded by FNs underlying philosophy which is being socially responsible corporate citizen. The key value of the business unit lies within the emphasizing of creating innovative design with high class application towards the development, leaving its occupant a feel of the modern and future alike features. FN Properties is expected to launch more properties in the future as its properties units are being recognized to be fill with innovative design and product development that particularly focus on FN brand name feature. In the far future, the division will focus on redeveloping of existing Premier Milk plant into a landmark in Petaling Jaya.(Fn.com.my, Property) PEST Mission: To be a world-class multinational enterprise providing superior returns to our shareholders, excellent value for our customers and a rewarding career for our employees. Vision: To become the leading total beverage company in Malaysia and the region. Every company has their mission and vision statement served as overall purpose of business. The mission and vision statement above are set by FN. There are external environmental issues have or will affect FN to achieve their mission. These external environmental issues are being categorized according to PEST(EL) model. PEST(EL) model is to analyze the external environment issues of company. It categorized environment issues into political, economic, social, technological, ecological and legal influences. Economic Improving growth prospect of Malaysia, Thailand and the region brings more income to FN as is signals economy are in good condition and peoples are willing to spend hence will increase sales in that particular region. The growth prospects include rising of Malaysia GDP in year 2010 that is approximately 10% compare to 4.5% in 2009 that rise from some major factor of manufacturing industry production with a double digit growth of 16.9% in year 2010. ASEAN countries are growing quick in their economy thus putting FN a favourable factor in growing of profits.(Annual Report 2009 pg 013) FN has built up positive consumer sentiment to their product. For example 100PLUS, isotonic drink that is specialized for sportsmen to retain the metabolism. It is a concept well-built that it is voted number 1 isotonic drinks in Malaysia since its introduction in 1983. That well-built positive sentiment brings others drinks of FN to be well marketable. It is the consumer sentiment to the products enhance d the profitability factor of FN towards other competitor thus is at an advantage in the market. (Annual Report 2010 pg 043 044) Political Government had put initiative to boost spending of consumer with new economic model (NEM), with this model being pursue, Malaysia economic boost as consumer purchasing power increases and are advised to spend. FN will get benefit by provide goods to be sold to the market hence boosting sales. FN products are all Halal hence are entitled for Halal Hub Tax Incentive. The incentive offered had decreased FN some percentage of tax liability to the government. It made FN more profitable compare to those companies which does not qualified for the incentive. (Annual Report 2011 pg 028) Government has removed subsidy of fuel and sugar has put an impact to FN as most of the FN core businesses needed large amount of sugar which is dairies and soft drink business. The withdrawal of sugar subsidy lower the overall profit of the FN although there is a large improve a sales but the profit doesnt show much improvement as the sugar cost increases. Withdrawals of fuel subsidy did also impact on FN as the cost of their internal and external distribution cost increases thus reduces profit. (Annual Report 2011 pg 037) Technological In the beginning of 2011, FN introduced new product, Ice Mountain and it has faster share gain among bottler waters player which established 5% market share in Malaysia. (Annual Report 2011 pg 035) FN launched new beverage Zesta across Malaysia in October 2011.Zesta has remarkably great tasting berry soda flavored soda. It contents the Guarana tropical berries that originate from Amazon, South America. In addition, Guarana tropical berries invigorate the body and mind. Zesta is an extension of our already large array of FN beverages, a beverage that was initiated to complement our existing range of FN brands, creating a transition vehicle for our growing band of consumers, said Dato Ng Jui Sia, CEO of Fraser Neave Holdings Bhd. FN believes that Zesta is the illustration of growing trends for beverage enhanced soda. (Zesta 2011) Environmental Sichuan Earthquake of May 2008 has caused the raw material cost increase and companys profit is affected. Natural disaster is beyond expectation and control of the company. Profit before interest and tax in 2008 grew only 5%. This environmental factor has affected company to achieve their mission. Natural disaster would serve as obstacle that FN provide superior returns to shareholders. (Annual Report 2008 pg 052) Porters 5 forces Today, Fraser Neave Holdings Bhd (FN) has extended business at more than 20 countries worldwide and established itself as a regional player. So that, FN need use Porters five forces model to analysis and understanding the nature of the competitive environment. FN has a lot of benefits from using Porters five forces model. They can ensure that management considers a wide range of potential impacts when devising strategy. They allow the division of the work in environmental analysis and make decision in time. In addition, Porters five forces also help to develop effective strategies to raise FN profitability, power, and competitive position in an industry. Porters five forces is divided into threat of entry, intensity of competitive rivalry, threat of substitute product, bargaining power of buyer and bargaining power of suppliers. Threat of entry Threat of entry is new entrants into market will bring extra capacity and intensify competition. The strength of the threat from new entrants will depend upon the strength of the barriers to entry and the likely response of existing competition to a new entrant. FN produce two new soft drink FN Clearly Citrus and Zesta were launched in soft drink market at year 2011. Zesta and FN Clearly Citrus was getting customer support and the new produces also have a higher demand from the buyer. Zesta sales would attract other competitors enter into tsoda market, it will be posted a threat on FN market sales. (Zesta 2011) Bargaining power of supplier Bargaining power of suppliers definition with the stronger power of suppliers in an industry the more difficult it is for firms within that sector to make a profit. It is because suppliers can determine the terms and conditions on which business is conducted. Most of the products are contented sugar, sugar is essential for production. Malaysian Government has removed sugar subsidies on selective basis and subsidy for Dairies Malaysia was removed. Increased of sugar cost and global commodity cost forced price of Sweetened Condensed Milk increased by 25%. However, sugar subsidy was removed on selective basis which means FN can look for suppliers whose sugar subsidies werent removed. In addition, competitors will also search for new suppliers and it may not easy to reduce cost as low as before. Apart from that, FN may have to concern about any switching cost for current suppliers. Bargaining power of buyer Bargaining power of buyer sense of the powerful buyer can force price cuts and quality improvement. The government removed sugar subsidy, FN material cost increased and affected the product selling price increased. In 2011, Sweetened Condensed Milk has increased 25% of the price which cause the demand reduced. Revenue and profit was decline during the year. Buyers also have full information about the soft drink and dairy product market. They should know which company product cheaper, more health and best quality. FN need to retain the customer by improving product quality and introduce new product. Buyers always have different choice for their beverage and dairy product. Apart from that, same type of competitors product will be display nearby companys products. For example, Jusco will be placing same type of products together which allowed buyers to search easily. There is low switching cost for buyers. Beside, degree of product differentiation is low which customer may feel all bran ds are similar. This threat is more difficult to control, because FN management need to concentrate on changing buyers preference and also maximize the shareholders wealth. Threat of substitute product Porters 5 forces have indicated that the threat of substitute product is the other firms within the industry has offers similar product with similar benefits for the customer. This threat may affects the competitive environment of the company and influence our ability to achieve profitability. On FN Magnolia have offers Pasteurised Milk and Sterilised Milk. The range of the customers is children and adults. The Pasteurised Fresh Milk can be enjoyed chilled or warm, plain or mixed with other foods or beverages and they innovate into Lo-Fat Hi-Cal Milk provide less fat and more healthier of the Fresh Milk for our body. However, Marigold has offers HL Milk is low-fat milk No.1 in Malaysia. HL Milk has perfect balance of nutrients for everyone in the family and it consists high in calcium and protein, low in fat and lactose and fortified with 9 essential vitamins to supplement healthier lifestyle. Marigold HL Milk is first choice for the customers who are caring health conscious. FN should innovation their milk product provide more healthy to attract or retain consumer choices. Another competitor is Dutch Lady has provided a Dutch Lady Milk powder for satisfy customer needs who want mix it with other coffee or tea favour and it has a rich and creamy taste and allowed to dilute in hot or cold water easily. Furthermore, Dutch Lady also has provided different formulations to cater to children of different ages to promote their brain development and healthy growth. Therefore, most of the mother would choose Dutch Lady Milk products of their children rather than choose FN milk products. FN SEASONS offers soft drink products are leaders in countrys most comprehensive range of consumer, catering to every occasion. The Soya range provides protein nourishment while the Chrysanthemum and Grass Jelly provides healthier refreshment with less sugar let FN SEASONS become best quality and healthy drinks. However, they are having lesser favors for the customer choose. YEOS have more favors, such as Lychee drink, Sugarcane drink, Bandung Rose drink, coconut juice, soursop drink and guava drink for the customer to choice. Hence, consumers who are Sugarcane drink lover may change its option to YEOS products. Although there are many competitors for isotonic drink, 100Plus still able to gain over 88% of the market share. Company has done a lot promotion for 100Plus which the reason 100Plus is successfully gain more than half of the market share. (Annual Report 2010 pg 036) Intensity of competitive rivalry Intensity of competitive rivalry among competitors in the industry strives to companies to gain competitive advantage over the rivals and drives the profit of the rivals firm to zero. The company can gains the competitive advantage by several ways, such as pricing policy, improving the products differentiation with other and exploiting relationships with suppliers. If can gain more competitive advantage over competitors can increase the profitability of the company. FN only provided soft drink products and dairy products, appears less competitive advantage compare with others. Nowadays, people more have health conscious when they buying products may choice to buy the products which consists more nutrition. In food and beverage industry also have many company has provide more diet product to satisfied the requirements of the different customers. Dutch Lady Low Fat Yoghurt is a healthy snack and it will enhance the absorption of nutrients, ensuring digestive system stays healthy. It contains Vitamin A, C and E, calcium and Active Live Cultures. In Addition, the Marigold have offer the Yogurt and cultured milk Vitagen which have consists nutrition products for the body. The Vitagen has billions of live probiotic cultures to helps maintain a healthy digestive system. Probiotic cultures in VITAGEN can withstand bile and acidic stomach juices and reach the intestines alive to fight harmful bacteria in the intestines. Furthermore, the Yoghurt contains live and active cultures help digestion and promote a healthy digestive system and calcium for the development of strong bones and teeth. Marigold also has offers Jelly is a great-tasting double-layered jelly that is filled with fresh fruits. Its cool and refreshing taste makes it great for everyone in the family and contains no preservatives and is a healthy alternative to fruits after a hearty meal. This makes Marigold become Malaysias first and only pasteurised Jelly. Beside, sugar subsidy was removed on selective basis which posted unfair competitive environment to FN. And it also created very intense pricing war for soft drink and dairy product. In order to protect the revenue while still retain consumer loyalty, the price of sweetened condensed milk increase 25%. This all is key reasons that the consumer may change favors to this type of products. To gain competitive advantage, FN should provide more nutrition products for the customers have more choose. Porters national competitive advantage diamond Porters diamond model suggests that there are inherent reasons why some nations and industries within nations are more competitive than others on a global scale. The argument is that the national home base of an organisation provides organisations with specific factors which will potentially create competitive advantages on a global scale. (Michael Porter 1990) Porters diamond model consist of four conditions of national advantage which are factor conditions, demand conditions, related and supporting industries and firm strategy, structure and rivalry. Factor conditions Factor condition is about important elements that exist in a company which lead to national competitive advantage. It can be country specific or industry specific. FN Dairies had constructed plant in Pulau Indah costs RM350 million and will be completed within the second half of 2011. The new plant promotes cutting edge green technology which would have huge gains in water, energy and environmental conservation. With existence of this plant, FN Dairies could be on the top list of worlds largest producers of canned milk. (Annual Report 2011 pg 41) An increase in production line is an advantage of the company. FN had launched a new RM45 million polyethylene terephthalate (PET) monoblock production line which is the first in Asia Pacific. This able to done all the things in only one production line, for example blow bottles, fill and pack all carbonate soft drinks products. (Annual Report 2010 pg 32) FN has the latest innovation and technology that bring advantages to them. With this latest technology, FN can enhance its operations by continuing improve production lines. FN can produce more products in effective and efficient way. In addition, the new machineries increase as the production lines increases. The warehouse management system has implemented to make operation work run smoothly. Besides, the introduction of new sales forecasting tools helps in manufacturing, if sales forecast is low, the manufacturer will produce less stock. (Annual Report 2010 pg 36) Supply chain act as an important role in a business. Without supply, production would not be carried out. Improvement in supply chain lead to high efficiency of production and logistic by upgrade the systems. FN introduce higher level of operational automation and inventory management to ensure the manufacturing process has no error. Besides, the product quality management has to make sure that the products are in acceptable quality and safety measures are enhanced in order the product would not harm people. (Annual Report 2010 pg 36) Demand conditions Secondly, the demand conditions state that if the local market for a product is larger and more demanding at home than in foreign markets, local firms potentially put more emphasis on improvements than foreign companies. This will potentially increase the global competitiveness of local exporting companies. FN non-carbonated portfolio has slightly increased from 25.4 per cent to 28 per cent in soft drinks business. This represent there is a growing demand for drinks. During the year, FN included fruit teas and juices to its range of soft drinks, and launch new drink called Zesta recently catering consumers of this segment. The ability to innovate, differentiate and manufacture new product lines will bring advantages such as gain more market share. (Zesta 2011) FN Fruit Tree released five new flavours in bottle form which are orange, apple, lychee, blackcurrant and mango. As the demand increases, Fruit Tree has becoming one of the fastest growing categories in Malaysia. The new flavours are the extension to the Fruit Tree cans range and the research shows that consumer preference toward these flavours compared to other brand in the market. (Annual Report 2010 pg 36) FN Holding Berhad has built a new warehouse in Kuching which triple larger than previous warehouse capacity to improve the quality of service and make sure delivery to customers is on time. Furthermore, it utilised advanced warehousing technology such as high selective racking, super flat flooring and Very Narrow Aisleway (VNA) trucks. (Annual Report 2009 pg 38) Related and supporting industries Thirdly, the related and supporting industries mean that when local supporting industries and suppliers are competitive, home country companies will potentially get more cost efficient and receive more innovative products. In February 2010, 100PLUS signed a partnership agreement with AirAsia Berhad, officially sell 100PLUS on AirAsia flights which depart from Malaysia. AirAsia Berhad is a Malaysia top airlines company, being a partner of AirAsia Berhad has a real competitive advantage for FN. This agreement is a big step for division to extend business offshore. Passenger dehydration happened frequently in air travel, with 100PLUS the passenger can get over the dehydration. Support from AirAsia is like an advertisement effect, whenever there is a flight, there is an appearance of 100PLUS. (Annual Report 2010 pg 038) Firm strategy, structure and rivalry Structure and management system can affect competitiveness. FN is running beverage and dairies business in addition to food business too. FN buy 23.08 per cent share in Cocoaland Holdings Berhad. Cocoaland is a major snack food manufacturer in Malaysia. FN is diversifying the business risk to various subsidiaries. FN develop the food business to supplement beverage and dairies business. As the Malaysia grow into high income economy country, the consumption of middle income will increase and food business will be benefited. (Annual Report 2010 pg 9) GE model 3 portfolio business Property Dairy product Soft drink GE business matrix Industry Attractiveness- Economic Factor Business Strength- Brand Strength High Medium Low High Investment/ Growth Soft drinkSelective Growth Selectivity Medium Dairy productSelective Growth Selectivity Harvest/Divest Low Selectivity Property businessHarvest/Divest Harvest/Divest FNs business has divided into 3 portfolio and that are Soft Drinks, Dairy Products and Properties. First of all, we will use the environmental factor and brand strength as the industry attractiveness factors and business factors benchmark. Soft Drinks FNs core soft drinks business portfolio will be classified at the classes of selective growth. The company soft drinks 100plus and Zesta are popular in Malaysia and have helped the company in bringing certain level of stable income.100plus as the companys core product have promoting an active lifestyle and healthy living to consumer. Many events have been run to promote 100plus as it is isotonic drink of choice at major sporting events. 100plus is present at top sports events such as Piala Malaysia Final 2011 100plus Tunku Abdul Razak Cup, KL Marathon 2011 and so on to continue building prestigious images of 100plus to consumers. Profit of division has been growing from year 2007 to 2011. However, sugar subsidy withdrawn by Malaysian Government has major impact on price of sugar. The division has lesser growth rate for year 2011. In addition, global commodity cost has increased which is unfavorable economic factor. Soft Drink division has very high brand strength but economic factors are not really favourable to the division. Dairy Products FNs dairy products will be classified at the classes of selectivity. Companys dairy products have included sweetened condensed milk, evaporated milk, pasteurised milk, UHT milk, juices and ice cream. Dairy Products also suffered from withdrawal of sugar subsidy and global commodity price increased in 2011. FNs dairy products business has classified at selectivity, with medium level of attractiveness and medium business strength on the dairy products. Although the product Milo is popular in Malaysia, Milo is not owned by FN, it was franchised. This product reduces business strength as it is not the only major player in the market. The dairy products will seem less attractive to the investors to consider investing because the deliberate of the milk market is very costly. In addition, the cost for hire workers and the cost to obtain technology for producing the dairy products are costly for subsequent production of dairy products. Moreover, the dairy products license also difficult to be approved by the government. New entrant will find difficult to entry, because the market has been controlled and played by a few major competitors. New entrant will find difficulty to enter to the market as these factors created entry barriers. Properties FNs property business is unlocking the value of land holding by the company. The economic factor of the company placed at medium level because volatile commodity and financial market. The company is more concentrated in the soft drink products and has no initiative to promote companys property to the public, not many people knows that FN has already entered into properties. FNs property business is non-comparable with beverage business that seems to be so successful and FNs property business strength is low in this industry. The property business that has high profitability in the industry will attract more investors to invest. The government encourage removing of old building and build more new business park in order to bring in more prosperity to our country. Moreover, our property business is at growth stage because it is newly introduced into the industry, hence it does not have strong business strength on the property business. Ratio analysis and Key performance Indicators Revenue of continuing operation continues to grow from 2009 to 2010 by 11.2% and 2010 to 2011 7.6%. In 2010, the revenue is able to grow better than 2011 due to improved economic conditions. Malaysia Government has

Dulce et decorum est Essay -- English Literature

Dulce et decorum est is a well known battlefield poem written by Wilfred Owen. Critical Analysis Dulce et decorum est is a well known battlefield poem written by Wilfred Owen. It has been written in the first person and the present tense to make the reader feel as if they are actually there. It is in three clear sections, which are eight-line stanzas, rhyming ABABCDCD. It has an extra four lines in the last stanza to incorporate the main message of the poem. It uses many similes and metaphors, which add drama and make it more effective. The first stanza creates the impression of the men being tired and wounded. It describes many afflictions which are normally associated with old age, it is as though the war has aged them prematurely for example, they are now 'knock-kneed' and 'bent double' . It is about the men's journey to a distant rest place away from the battlefield 'til on haunting flares we turned our backs'. 'Cursed through sludge' tells the audience that the conditions are awful and that the language being used to drive them forwards is harsh. The poem...

Atlantic Slave Trade Essay

The origins of the Atlantic Slave Trade were products of Western Europe’s expansion of power that began at the beginning of the 1500’s through the 1900‘s. The main contributing European countries to the Atlantic Slave Trade were Portugal, Spain, the Netherlands, France, and England. Portugal lead the movement during the 1400’s and arrived in Western Africa in hopes to find Christian allies to spread Christianity against the Muslims of Northern Africa. But they soon became more interested in trade (Hine, Hine & Harrold, 2011). Slavery, however, has existed in all cultures for thousands of years. For example, Arab merchants and West African Kings imported white European slaves. At first, the slave trade focused on women and children who would serve as domestic servants. But later the trade switched to focusing on young men for agricultural labor in the Americas. The Portuguese traded primarily for gold, ivory, pepper, as well as slaves. After a few decades, the had captured hundreds of slaves (Hine, Hine & Harrold, 2011). It’s misleading to say all slaves were captured by raiders, because in many cases they were bought from African traders. Columbus’s voyages completely changed the slave trade. Once colonies in the Americas were established, many of the Native Americans who were enslaved died of disease and overwork causing a need for more African slaves. During the 1600’s, sugar plantations, gold and silver mines produced an enormous demand for labor. Soon after, markets for coffee, tobacco and rice cultivation yet again increased the demand for African slaves (Hine, Hine & Harrold, 2011). By the early 1700’s, the English dominated the Slave Trade, carrying about 20,000 slaves per year from Africa to the Americas. By the end of the century, over 50,000 slaves were being transported per year. After 1700, the importation of firearms heightened the intensity of many of the wars and resulted in a great increase in the numbers of enslaved peoples. European forces 2 ?intervened in some of the localized fighting and in warfare all along the Atlantic coast. They sought to obtain captives directly in battle or as political rewards for having backed the winning side (â€Å"The transatlantic slave,† ). The enormous amount of slave labor and its incredibly low cost highly contributed to the advancements of the Industrial Revolution. Also during this time, many civil wars throughout Africa produced captives which were sold as slaves in Western Africa. Raiders often tied the captives together with ropes and secured them with wooden yokes around their necks. Many captives died of hunger and exhaustion before even being put on ships. Other slave captives decided to kill themselves rather than be forced into slavery (Hine, Hine & Harrold, 2011). Once the captives reached the coast of Western Africa, the captives were kept in â€Å"factories†, which were headquarters of the slave traders. These factories contained warehouses with supplies and dungeons to keep the captives in. In these factories, the slavers would divide families up to decrease the possibility of a rebellion happening. After a few weeks in these factories, the slave holders would brand the â€Å"fit† slaves bearing the symbol of that particular trading company (Hine, Hine & Harrold, 2011). European brutalization of the captives was an attempt to destroy the African’s sense of self-identity. The voyage from Africa to the first stop in the Caribbean generally lasted between two and three months. As the demand for slaves increased, so did piracy. Many opposing nations would fight and attempt to steal each other’s slave ships seeing how valuable slaves were at the time (Hine, Hine & Harrold, 2011). Other natural causes that contributed to the destruction of slave ships were hurricanes as well as doldrums, which are long periods of time with no wind gusts to propel the ships. ?The ships themselves were designed to maximize the amount of slaves to be carried. The cargo space where the slaves kept were only about five feet tall. And slaves were chained together in pairs to minimize the chance of a rebellion. Many times, especially during storms, the slavers neglected to feed the slaves or change the tubs and buckets used for toilets, as well removing dead bodies (Hine, Hine & Harrold, 2011). Sanitation was also a major contributor to death and disease. Only about three or four toilet tubs were provided for all of the slaves. Mortality rates were exceptionally high on the ships, averaging around 15%. Overall, about one third of all slaves died during the whole process of moving them from Africa to the Americas. The main causes of mortality on the ships were diseases such as small pox, malaria, dysentery, yellow fever and measles (Hine, Hine & Harrold, 2011). There was however still rebellions from the captive slaves aboard the ships. Rebellions usually occurred when the ship was getting ready to set sail or when they ships were still within sight of the Africa land mass, when there as still hope for the slaves to return home. Often times slaves would actually starve themselves intentionally or try to jump off the ship to drown. But to combat this, the slavers would sometimes put nets on the side of the ship to stop jumpers and to deal with those who would refuse to eat, the slavers would use hot coals to force individual’s mouths open to eat (Hine, Hine & Harrold, 2011). The women aboard the slave ships were treated very badly as well. They were often raped and sexually abused. Many times, all of the women were kept in separate rooms to make it easier for the slavers to take advantage of them. The slave ships would generally arrive at islands in the Caribbean for rest to make them more healthy and appealing for buyers. The english preferred the island of Barbados for this 4 ?resting period. Barbados experienced a jump in its slave population from 1,000 to 20,000 in the first decade after sugar cultivation was introduced around 1640 (Smallwood, 2007). This resting period in the Caribbean came to be termed seasoning and on these islands the slavers divided into a few different categories of slaves depending on how acculturated the slaves were to the New World’s culture and lifestyle. These categories were those who were born in the Americas, those who had lived in the Americas for a long period of time, and the new slaves from Africa (Hine, Hine & Harrold, 2011). During seasoning, the slavers would attempt to modify the behavior of the slaves to make them effective laborers. The new slaves were also given new names and were attempted to be taught English so they could obey commands (Hine, Hine & Harrold, 2011). The planters in the Caribbean would often rely on the already acculturated slaves to train the new slaves because it was easier that way. The physical condition of the arriving slaves to buyers would many times be a disappointment to the buyers. Although the slavers would shave and wash them, the illusion of health would not always conceal the truth to the buyers. Also, many times the cargoes included too many women, children, or older people. This was also a disappointment to the buyers and the regularity of these outcomes were soon considered â€Å"normal† (Smallwood, 2007). The planters then assessed the successful seasoning of slaves by three criteria: firstly if they survived the journey, secondly if the could adapt to the new climate and new foods, and lastly if they were able to learn a new language to obey commands. However, as many as half of the slaves ended up dying within the first three years after arriving at the Americas (Smallwood, 2007). Of the estimated ten million men, women, and children who survived the Middle Passage, approximately 450,000 Africans disembarked on North America’s shores. They thus 5 ?represented only a fraction – 5 percent– of those transported during the 350-year history of the international slave trade. Brazil and the Caribbean each received about nine times as many Africans (â€Å"The transatlantic slave,† ). The Atlantic Slave trade began to diminish in the late 1700’s by both humanitarian efforts as well as declining need for slaves in the modernized industrial economy. The lasting effects of the diminishing of the slave trade proved to be negative for Africa. Many of the Western African societies had become dependent on the slave trade (Hine, Hine & Harrold, 2011). Looking at the statistics of the slave trade, from 1501-1525 it is estimated that around 13,000 slaves were transported to the Americas (â€Å"The trans-atlantic slave,† 2008). By 1601-1625, over 350,000 slaves were estimated to have been brought to the Americas. At the turn of the 18th century, from 1701-1725, over 1,000,000 slaves were transported from Africa to the Americas. The Atlantic slave trade peaked from 1776-1800 with over 2,000,000 slaves being transported during that time period. The Slave Trade holistically contributed to the enslavement and migration of over 12,500,000 slaves from 1500-1866 (â€Å"The trans-atlantic slave,† 2008). The Atlantic Slave Trade was a horrible series of events that should have never happened. At least we can be optimistic about mankind’s ability to learn from our mistakes and improve our actions.

3 More Cases of Unnecessary Punctuation

3 More Cases of Unnecessary Punctuation 3 More Cases of Unnecessary Punctuation 3 More Cases of Unnecessary Punctuation By Mark Nichol In each sentence below, the presence of one punctuation mark- or, in the case of the first example, a team of two complementary marks- introduces a flaw in the syntactical structure of the statement. Discussion and revision of the problematic sentences follow each example. 1. He would replace conservative, Justice Antonin Scalia, who died last month, leaving behind a bitter election-year fight over the future of the court. Because the phrase â€Å"Justice Antonin Scalia† is essential to this sentence- the statement would not be grammatically valid if it were omitted- it cannot be treated as a parenthetical. Here, conservative is simply a description of the person named. But also, because conservative and justice can combine to describe the person, the latter word joins the former one as a generic descriptor and should no longer be treated as a job title: â€Å"He would replace conservative justice Antonin Scalia, who died last month, leaving behind a bitter election-year fight over the future of the court.† (This rule applies to any similar shift in function, as in â€Å"former president George W. Bush† as compared to â€Å"President George W. Bush.†) 2. In the book, Built to Last: Successful Habits of Visionary Companies, the authors assert that a company sustains itself by setting audacious goals that require the commitment of its personnel to work outside their comfort zone. Unless the book has been previously referred to, this sentence treats the title as if it refers to the one existing book. Again, without the parenthetical information, the statement is flawed because, in this case, it does not identify the book in question: â€Å"In the book Built to Last: Successful Habits of Visionary Companies, the authors assert that a company sustains itself by setting audacious goals that require the commitment of its personnel to work outside their comfort zone.† 3. These factors pertain to such drivers as: the enterprise’s capabilities; competitor capabilities, behaviors and actions; and customer preferences and bargaining power. The colon interrupts the syntactical flow of this sentence: â€Å"These factors pertain to such drivers as the enterprise’s capabilities; competitor capabilities, behaviors and actions; and customer preferences and bargaining power.† (It would be correct if the sentence began â€Å"These factors pertain to such drivers as the following.† In this case, the colon, placed after following, would properly punctuate a complete statement that sets up what follows the colon.) 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 Punctuation category, check our popular posts, or choose a related post below:50 Synonyms for â€Å"Leader†"Latter," not "Ladder"Wood vs. Wooden