Dose Adjustment in Renal Disease

GENERAL APPROACHES FOR DOSE ADJUSTMENT IN RENAL DISEASE Renal insufficiency can markedly alter one or more of the pharmacokinetic parameters of a drug including oral bioavailability, volume of distribution, drug binding to plasma proteins, and most importantly the rates of metabolism and excretion, i. e. , drug clearance.. To minimize drug toxicity and maximize therapeutic benefits, it is often necessary to adjust drug dosage in proportion to the degree of renal insufficiency. A drug will most likely require dose adjustment in renal disease if: 1. A substantial fraction (> 40%) of the drug dose is excreted by the kidney either unchanged or as an active (or toxic) metabolites. 2. The drug or its active metabolite has a narrow therapeutic window such that drug accumulation cannot be tolerated. 3. The kidney is a major site for the inactivation of the drug. This applies mainly to peptides like insulin, glucagon, PTH, and imipenem. 4. There is a significant drop in the binding of the drug to plasma proteins. For instance, a decrease in the protein binding from 99 to 95% results in a fourfold rise in the unbound, active drug concentration. Dose adjustment may involve one or a combination of the following measures: 1. Extension of the dosing interval. 2. Reduction of the maintenance dose. 3. Administration of a loading dose. 4. Monitoring serum drug levels. FACTORS IN CHOOSING OF DOSE ADJUSTMENT APPROACH: Factors to consider when choosing appropriate dose adjustment approach are the class of drug ,the amplitude of the peak-trough fluctuation relative to the therapeutic index, magnitude of the dose with respect to the dose strength to be marketed and practicality of calculated dosing interval. Pharmacokinetic simulations can be especially helpful in visualizing the impact of various dose and interval changes and interval changes on the concentration time (C-T) profile at steady state. Reduced elimination of a drug prolongs its half life (t? ) as well as the time required for the serum level to reach a steady state (4 times t? ). Therefore, whenever it is clinically desirable to rapidly achieve a therapeutic steady state level a loading dose should administered. To maintain a therapeutic level and, at the same time, avoid drug accumulation and toxicity in a patient with reduced renal function, the clinician must consider reducing the size of the maintenance dose or the dosing frequency or both. In general, this reduction should also be proportional to the degree of renal impairment , but should also take into account adaptive or compensatory changes in the metabolism and excretion of the drug through non-renal routes. MAINTENANCE DOSE REDUCTION METHOD: The maintenance dose reduction method is used whenever a more constant (less oscillating) serum drug level is therapeutically preferable (e. . , ? -lactam antibiotics) Let us assume that one has already defined a safe and effective dose regimen for use in normal patients. This normal dose regimen is then adjusted according to dose fraction by two basic procedures. First method termed as constant interval, dose-reduction (DR) reduces the dose (D) by a factor of the dose fraction. Dose interval is the same as that used in the health person. D renal failure = D normal Kf t renal failure = t normal INTERVAL EXTENSION METHOD The second method referred to as constant dose, interval-extension(IE) extends dose interval by inverse of dose fraction, a value referred to as the dose interval multiplier : t renal failure = t normal (1/ kf) D renal failure = D normal This type of dose adjustment strategy may also be implemented through the use of a nomogram where the dosage interval multiplier for this IE regimen is simply read off a plot of creatinine clearance Interval extension method is used for drugs for which a constant serum level is either unnecessary (eg, vigabatrin) or undesirable (e. g. , aminoglycoside antibiotics). This method is also used for drugs that normally have long elimination t?. However, a combination of the two methods is often used. In addition, for a drug whose therapeutic serum level range is known and routinely measured, dosage adjustment is often guided by monitoring the serum drug level and the patient's response in terms of the therapeutic benefit and adverse drug reactions (toxic ity). Reference:: http://www. hedrugmonitor. com/RIT97. html http://books. google. com. pk/books? id=qXw33GaQF9IC=PA288=PA288=general+approaches+to+dose+adjustment+in+renal+patients=bl=IKsqNAp2nU=jglKfgGimUFQ_xBN9cGKPPRsC2E=en=CxbTStLaAo-QkQX1_N30Aw=X=book_result=result=7=0CCMQ6AEwBjgK#v=onepage=general%20approaches%20to%20dose%20adjustment%20in%20renal%20patients=false http://www. gbv. de/du/services/toc/bs/380847361 http://books. google. com. pk/books? id=9324ILATCgMC=PA288=general+approaches+to+dose+adjustment+in+renal+DISEASE#v=onepage=general%20approaches%20to%20dose%20adjustment%20in%20renal%20DISEASE=false

Lady Macbeth As A Catalyst To Evil Essay

The expression â€Å"behind every man, there is a woman,† rings true even in the Shakespearean tragedy Macbeth. Lady Macbeth is the catalyst that ignites the fire to Macbeth’s ambition. It is because she challenges his masculinity, questions his love, and belittles his bravery that Macbeth murders Duncan. His lady provides impetus for him to abandon all honorable nature in order to achieve what they both desire. Macbeth would not have murdered Duncan and continued on a downward spiral of evil were it not for the extra push from his ruthless and overly ambitious wife. Macbeth is filled with great hubris. Lady Macbeth plays on this pride when she challenges his masculinity. She goads him by saying, â€Å"When you durst do it, then you were a man / [. . .], you would / be so much more the man.† (Shakespeare, Macbeth. 1.7.49-51). Lady Macbeth tells her husband to kill Duncan to prove that he is a man, and states how much more of a man he will be as king. Eugene M. Waith states in his criticism Manhood and Valor in Macbeth, that â€Å"the pangs of Macbeth’s conscience [. . .] are no more than effeminate, childish fears to Lady Macbeth.†(64) She has a great deal of power over Macbeth; this power is the mere truth that she possesses more of a manly quality that he himself does. Macbeth is ambitious enough to want to become king, but would not think of murdering Duncan. Because Lady Macbeth knows this, she understands the necessity to push Macbeth into performing the deed. She does this by questioning his love for her. † What beast was’t then / that made you break this enterprise to me?/ [. . .] I would, while it was smiling in my face, / have plucked my nipple from his boneless gums a/ nd dashed the brains out, had I sworn so as you / have done to this.† (Mac. 1. 7. 47-48. 55-58) In saying this, Lady Macbeth proves her devotion to her lord and asks him to do the same. Lady Macbeth tells him that his love is worth nothing if he refuses to go through with the plan, â€Å"[. . .] saying that his love is as accountable as his indecisiveness.† (Macbeth and Lady Macbeth Switch Roles. www.planetpapers.com) Macbeth wants his wife to love and trust him, so he follows through with their plan. Macbeth is brave when it comes to thought, but when it comes to action he is  somewhat of a moral coward. Lady Macbeth bullies her husband into the action that will gain them the throne. The final way she badgers Macbeth is by deprecating his bravery. â€Å"We fail! / But screw your courage to the sticking-place / and we’ll not fail.† (Mac. 1.7. 59-61) Macbeth views himself as the epitome of bravery and upon hearing these words from the woman he loves, he succumbs to their ambitions. Lady Macbeth taunts him for his cowardice, â€Å"under the weight of her reproaches of cowardice he has dared do more, and has become less [. . .]† (Brooks. 45). Throughout the Renaissance, the idea that to be courageous is to be a man prevails. At the beginning of the play, Macbeth represents the ideal Elizabethan hero; therefore, bravery is an important character attribute. Lady Macbeth’s ruthlessness and manipulation of Macbeth causes him to defy his true principles and to murder Duncan. From the beginning of Act One Scene Five, until after the murder of Duncan, it is evident that Lady Macbeth manipulates and convinces Macbeth to do evil. Lady Macbeth knew that he would never go through with it alone, she realizes that he holds too much of the â€Å"milk of human kindness† (Mac. 1.5.12) to ever complete such an appalling feat. Lady Macbeth uses persuasion to coerce her husband. Had she not mocked his masculinity, challenged of his love, and vilified his bravery, Macbeth would not have been pressured into the murder of his king and thrust onto a path of malevolence led by ambition.

China Outbound Travel Trend Essay Example | Topics and Well Written Essays - 1500 words

China Outbound Travel Trend - Essay Example This research will begin with the statement that the sustainable China`s economic growth, the implementation of the opening up policy by the Chinese government and the overall increase of the government income have had a significant positive impact on the tourism industry in China. China`s citizens have continually travelled abroad for various reasons that have not only had a bearing on the country`s travelling trends but has also affected other industries as well. The general increase in people`s personal incomes and setting up of favourable travelling policies have attracted many people to travel abroad in China making the country dominate Asia's travel trends in the first half of 2015 according to the recent trends in air travel. The trend also possesses a high position in world trade and provides a win-win situation for both consumers and producers. The journey to the growth of China`s travelling trends dates far back in 1997 when the Chinese government allowed its citizens to us e their expenses freely to go abroad. The travel market has since then had significant growth with the number of China`s residents going abroad reaching 16.6 million in the year 2002. This proved China as the fastest growing travelling market and hence a potential tourism market in the world. The improvement trend has since then continued to grow and in 2012 the Chinese expenditure on outbound travel was noted to surpass the Americans spending. By 2014, China was noted to have made 98 million overseas visits that translate to a consumption of 128 billion.

Strategic Human Resources Planning for Hilton Hotel Research Paper

Strategic Human Resources Planning for Hilton Hotel - Research Paper Example It helps to identify the problems and issues which impacts on the organization and determine its competitive position in the industry. Strengths The strength of the company lies in its vast international presence. The main presence of the company is felt in Europe and USA. However, its operations are spread across almost all nations including China, India, Japan, Germany etc. One of the main strengths of the hotel is that it is well diversified in terms of the services it offers. Its services range from high-end services to middle and low-end product mix (Hilton Hotels and Resorts, 2011). Moreover, it also possesses the additional strength of having solid integration features, such as having ownership of companies which manufactures products and furniture for the company or even invests in its online travel reservation enterprises (Hilton Hotels and Resorts, 2011). Weaknesses The hotel was greatly impacted by the economic and financial downturn. It remains highly vulnerable to the do wnturn happening in the global economy or other catastrophes which could limit its global operations. The financial downturn was one of the main reasons why Hilton Hotels was caused to move headquarters to the D. C. Area with the aim to cut down costs. This has also resulted in high employee turnovers in the organization (Rosenwald, 2009). The Hilton hotel in the USA can also be vulnerable to the worker’s strikes and cracking down on the undocumented workers in the country. This is because the majority of the holdings of the organization are based in the US. Opportunities The quick technology changes and changing landscape has been enhancing demands for hotels in the world. Consumer demands rise having to push forth for the growth of hotels which appears as a favorable opportunity for the organization to explore. According to the Smith Travel Research (STR), the USA hotels are projected to see an increase in the performance indicators in terms of occupancy and average daily r ates. Occupancy rates were projected to be 58.5% in 2011 while average daily rates are projected to be increased from 4.2% to the US $102.21. The following figure would reflect the occupancy rates and the ADR rate increases since 2004 till 2011 (Travel Media Group, 2011). Figure 1: Occupancy Rates, 2004-2011 (Source: Travel Media Group, 2011) Figure 2: ADR (Source: Travel Media Group, 2011) With the growth of the emerging markets the company could its resources to tap them. This is especially applicable to the business class and the middle prices markets in the hotel industry. Moreover, there has been an increase in attractiveness of features like spas, gaming activities, games for kids and various other features. Apart from that consumers also look for the eco-friendly atmosphere which Hilton hotels could incorporate in order to add to unique features (Travel Media Group, 2011). Threats There is tremendous competition in the hotel industry with the entry of new firms in both the US A and also other nations. This could be a matter of a threat to the company and it would have to strengthen its base to fight against this competition. Also, the changing tastes of consumers can be a challenge before the organization. There would also be diversity among competitors in terms of price strategies, product differentiation strategies, service management etc.

Images in the visual media consistently misrepresent non-western Essay

Images in the visual media consistently misrepresent non-western cultures - Essay Example Orientalism, as it was known by Napoleon, was based on just such knowledge – that is knowledge about the Orient projected upon it by the Western world. This idea of the Orient, as it was expressed among the Western scholars – overrode the true Orient. Observers entering the true Orient were already convinced of what they knew regarding an unchanging and already defined system, locking everything labeled Orient into a passive, unresisting object for study. Comparable linguistics were the basis for many of these assumptions. This had, and continues to have, a negative effect upon the Western world’s perception, understanding and appreciation of a multitude of cultures that were erroneously grouped into a single identity. To understand how images in the visual media consistently misrepresent non-western cultures, it is necessary to understand the theories of Edward Said, who first explored the idea of Orientalism, as well as to take a look into some recent examples of these concepts at work. The introduction to Edward Said’s book Orientalism is essentially an argument in three parts illustrating the various means he plans to use in order to support the key arguments he makes in the remainder of the book; namely, to first show how the Orient has become something that is not a â€Å"free subject of thought or action† through the more imaginary concept of Orientalism and second to demonstrate how the â€Å"European culture gained in strength and identity by setting itself off against the Orient as a sort of surrogate and even underground self† (Said, 1979, p. 3). Opening with an argument regarding the use of the term Orientalism, Said makes three observations. The first one centers on the idea that the term ‘Orient’ refers not to the truth of the region, but rather to an idea that has been developed in the minds of Europeans that tends to group all individuals of the Middle East and East as belonging to a single cultural and

HCM427-0801A-01 Human Resource Management in Health Care-Phase 1 Essay

HCM427-0801A-01 Human Resource Management in Health Care-Phase 1 Individual Project - Essay Example In the United States, about 94% of the nurses are female out of the nations 2.7 million workers. The US Bureau of Labor Statistics estimates that more than one million new and replacement nurses will be needed by 2012. The reason for the shortage is described to be the added taxes they have to pay and the added pressure on health care facilities to cut corners by letting nurses go. The shortages created by these put extra pressure on the remaining nurses. According to the survey conducted by the American Nurses Association, nurses feel burnt out, stressed and unable to provide quality healthcare. (Uretsky, 2005) (Ginty, 2004) The solution to increase the supply of nurses lies basically with the government by adopting policies for funding. However at an organizational level, the managers should try to treat the nurses more professionally. Limiting mandatory overtime can be another way to reduce burnout of nurses hence increasing the standard of nursing which would lead to more students to come towards the nursing field. Offering high rewards and peace of mind as job characteristics would further attract nurses to join JPS rather than other hospitals. (Ginty, 2004) The American Medical Association in its newspaper (Jan. 5, 2004) claimed that there was a looming crisis of physician shortage which will inevitably increase. The reason for the shortfall is some cases isn’t really because of the unavailability or supply of physicians but because of an unequal geographic distribution. Due to the trends in urbanization, the distribution of physicians in certain areas of US has become asymmetric. The lack of appeal in certain regions of the country, lower pays as well as the inability of disadvantaged communities to support specialist care monetarily lead to a tendency for physicians to set themselves up in major cities where at least their income is satisfactory.

Appropriate Justification for Punishment Essay Example | Topics and Well Written Essays - 2000 words

Appropriate Justification for Punishment - Essay Example Therefore, punishment is a response to unusual behavior or crimes in societies and usually takes the form of either formal or informal ways of administration. Formally, the authority figures utilize systematized laws such as civil law suits while informally, the society uses social groups such as peer groups to correct an individual (Bonta & Andrews, 2010, p.58). Conversely, at the informal level, social systems are employed and this touches on families, friends or peers. Punishments vary in the severity, depending on the extent of their consequences in the society, and may include reprimands, ostracism, sanctions, incarcerations, fines, death penalties, or deprivation of privileges (Michael, 2001, p.99). Incapacitation, deterrence, education, rehabilitation, and retribution are the principal punishment justifications (Lippman, 2009, p.82). Deterrence, also referred to as prevention is a disciplinary procedure used to avoid offenses. Through deterrence, those who commit offenses are deterred from reoffending while those contemplating the offense are deterred from trying to commit these offenses (David, 2002, p. 11). The goal of this punishment is to scare people from committing crimes or they face the punishment. Authority figures on the other hand, use rehabilitation for reform purposes. This form of punishment rehabilitates the wrong doer and prevents them from committing the crimes again. In this case, the punishment changes the wrong doer’s attitude and makes them realize that what they do is wrong, and helps them stop it. For the sake of protecting the society, law makers use incapacitation as a form of punishment. In this case, the society engages in several methods to remove the ability of the offender to engage in future offenses (David, 2002, p.13), which includes imprisonments, amputations or death penalties. In most criminal activities, the offender usually gains while the victim of the offense looses. For the sake of retributive justice, retr ibution is necessary; to create a balance between the offender and the victim and ensure the offender suffers (David, 2002, p.15). Another reason for punishment is restoration, where the offender makes right whatever they have committed. Penalties for restoration are minor, and may include compensation or community services. In addition to these, there are other reasons for punishments such as education, which instills discipline to the society’s norms and values. Punishment has received much attention from scholars of various fields, specifically, philosophy and psychology. In Psychology, operant conditioning is most associated with punishment. Operant conditioning introduces the aspect of response-stimuli conditioning and learning through reinforcement (Nevid, 2011, p.183). In this context, punishment refers to the act of reducing behavior by applying an adverse stimulus or removing a pleasant stimulus. This concept is useful in understanding the justifications for punishme nts because they basic goal is to reduce or remove unpleasant behavior from the organism (Blackman, 1974, p.77). Over the years, civilization has changed the methods and perception of punishment. The rationale behind every punishment method is that its degree should fit the crime. The consequence of a crime to the society is used to assess and formulate the most suitable punishment (Hugo, 2010, p. 87). Every type of punishment has its purpose and this mainly includes: rehabilitating

The Framemakers Case Study Example | Topics and Well Written Essays - 250 words - 1

The Framemakers - Case Study Example The Normans then leaves the family business to work out modalities for their personal business (Wesley, 2000). The case’s statement problem is therefore to determine the best business opportunity that can successfully meet the Norman’s ambition for expansion. Solving the problem would involve analysis of available alternatives (Wesley, 2000). The first alternative for the Normans is the family business that is already established but has little room for expansion. They can alternatively pursue the franchise business that has an already developed image but they will have to buy the goodwill and pay a regular commission from their revenues besides operational costs. The Normans can alternatively develop their own business. Even though this will have a slow start and would similarly require financial inputs, it is viable and has room for expansion (Wesley, 2000). The Normans should therefore work hard on the involveed modalities to set up their personal and independent business. This is because it has room for expansion and will be free from any form of external

The Commitment to Immediate Emancipation Essay Example | Topics and Well Written Essays - 750 words

The Commitment to Immediate Emancipation - Essay Example This paper illustrates that the article â€Å"The Commitment to Immediate Emancipation† begins by letting readers understand the time frame of the events and the state of affairs that was prevailing there. The period was that of the Second Great Awakening in the 1830s. This was the period of the religious revivals, anti-prostitution, urbanization, and developments in technology. These factors led to the elimination of slavery and freedom of slaves. Technological advances and urbanization accelerated the flow of information through the country. Awareness about the plight of slaves made many people stand for the cause of emancipation of slaves. Religious revivals also opened the eyes of people. They began to learn the humane way of living, standing against slavery, alcohol use and other similar activities. The author continues to explain the way abolitionists prospered in those periods. Religion is the common factor that can be found in the upbringing of a majority of the abolit ionists. We read in the article that â€Å"The  parents  of abolitionists were usually well-educated Presbyterians, Congregationalists, Quakers, and Unitarians who participated heavily in revivalism and its attendant benevolent  projects.† Religion made the church-going people understand that slavery is an inhumane practice that is wrong according to a word of God. The author of the article states that habits, like drinking, sexual immorality, and ignoring family ties, are as bad as the practice of slavery. The article analyses the nature of nineteenth-century Protestantism and the commitment that made people strive for the elimination of slavery. There existed innumerable antislavery factions, some of them demanding an immediate end to slavery and some others choosing a gradual abolition of slavery. Certain groups suggested that the ex-slaves should be sent to Africa. According to few antislavery positions, slaves should be freed after paying the market value of the sl aves to the slave owners. However, the most radical position strongly demanded an immediate, unconditional liberation of slaves giving no compensation to the slave owners. The religious revivals, the revival made people cry for an elimination of the inhumane practice of slavery. The author makes use of the historical facts to prove the thesis and secondary points. â€Å"The Commitment to Immediate Emancipation† enhances the reader’s understanding of the historical period. The article educates the readers about Colonial America. The economic growth and other scenarios prevailed in that period contributed to the emancipation of slaves and stoppage of slavery. The article exposes the religious picture of Colonial America. Author explains how religion contributed to the new moral establishment in the nation. The conversion experience of the people, the religious revivals, and the God-centered life of the people are perfectly presented in the article. The religious set up o f the period contributed to several social and cultural changes in the society. The author of the article has successfully presented the religion-centered life prevailed in the society. The importance of moral uprightness and social responsibility in that society and the nature of upbringing of children are well covered in the article.

What does work mean Essay Example | Topics and Well Written Essays - 500 words

What does work mean - Essay Example Scientifically, work is related to change of energy to come up with finished good for consumption or for visible results (Loutfi, 2001, p. 87). According to scholars of physical science, work can only be done when force is applied to an object. There are different categories of work, which include Full time in which an individual is found to be in working place actively carrying out daily chores for about thirty-eight hours for every seven days (Batsleer, & Davies, 2010 p. 52). A full-time worker enjoys right to leave every year during which he is supposed to receive regular monthly payment.Furthermore, the full-time worker should be granted sick and individual excuse from the job. Additionally, full-time work enjoys right to work in a good environment and early information in event of any changes at the workplace (Lederman, &Teresi, 1993, p. 62). Part-time workers are found working for few hours a day but they have the specific time to attend job.Moreover, casual workers attend job at regular hours and they do not have to work every day. Their pay is not fixed and they do not enjoy the benefit of work protection and increment of payment (Friedman, 2005, p. 77).On the other hand, Contract workers are employees who make some agreement with business organizations or individuals to do some job for the organization setting particular remunerations.Basing our discussion on studies carried out about work, scholars have observed that people engage in work so as to earn their living.

Life in Pompeii Essay Example for Free

Life in Pompeii Essay The amphitheatre was built in 70bc by the magistrates to provide entertainment for the people of Pompeii. The Pompeii amphitheatre is the oldest surviving amphitheatre in the Roman world. The capacity was 24000 and because seats were numbered, only the most important people of Pompeii would be allowed to sit at the front. The amphitheatre was mainly used for games that lasted a week and were funded by the magistrates. While entering the stadium, the people would salute the important dignitaries. Political Life: The amphitheatre was built by magistrates and events were fully funded by them aswell. Although built for the whole city to enjoy, only special people could sit at the front. Cultural Life: The amphitheatre was made from stone and included a parapet that separated the stand from the arena. The parapet was decorated with frescoes of gladiatorial combat which over time have been lost. Events that were primarily used at the amphitheatre were gladiatorial battles, hunts, and wild beast fights. The Basilica Economic and Political Life: The Basilica was a structure in the Forum where legal and business activities took place. It was built in-between 120bc and 78bc and was 24 by 55 metres in size. The basilica was originally a market but was changed in the first century to become the new law courts Cultural Life: The Basilica was covered by a large, double pitched tiled roof and the entrance had five doors with wooden shutters, the large hall was surrounded by twenty eight ionic columns, 11 metres in height. On the west side, stood a two story structure known as the Tribunal which was guarded by a statue of Augustus. The marbel panels on the side walls were decorated in the first style art and graffiti was found everywhere, not unusual in Pompeii. The Baths: Economic life: Just about everyone except slaves and the poor visited the baths as not only was it a place for cleaning but also a social hub. The baths would be opened at around midday and remained open well into the evening. Most people were accompanied by slaves who assisted them with their cleaning. Political life: Pompeii had four main baths, the forum baths, the stabian baths, the central baths and the amphitheatre baths. The stabian baths were the oldest and biggest baths in Pompeii and date as far back as the early 4th century. The baths has a Apodyterium, a frigidarium, a tepiderium, a caldarium, toilets and the stabian baths featured a swimming pool. Usually the baths were divided between men and women and when this wasn’t the case, men and women would attend the baths at different times. There was however mixed bathing in some places. Cultural Life: Apart from cleaning, at the baths people also enjoyed physical activity and sport at the palestra. There was also massage, music, poetry, reading and business contacts to be made. Graffiti and wall drawings also depicted sexual activity at the baths. Women wore modest clothing and men wore either trunks or bathed naked. The floor was made of square stones and supported brick columns and there was space between the tiles and walls because of the use of the special nipple tiles. The hot air generated from the furnace located at the back of the caldarium would flow up between the tiles and the wall, heating all the rooms. Via Del Abbondanza The Via Dell Abbondanza was the main street of Pompeii and the main business district of the city. The streetscape had a grid like pattern which although was popular in other roman times, was not precisely applied in Pompeii. The street contained stepping stones so that when it had been raining, people didn’t have to walk through sewage. There was enough room between stones for wheeled traffic aswell. Deep groove marks in the roads indicate to us that there was alot of wheeled traffic on the road. There were two different roads, the Decumani and the Cardines. The decumani ran east to west and the cardines ran north to south. On cross roads there were shrines called nymphaea which were water fountains. Via Stabiana: The Via Stabiana stretches from the Porta Stabia to the center of the city. Along this street, on the west side is the Gladiators’ Barracks and the Odeon. There were stepping stones to allow pedestrians to cross the street without stepping into whatever might be in the street itself. Carriages could still travel along the streets, their wheels passing between the stepping stones. On the east are a number of residences and shops, including a bakery with an oven which is seen as a hole in the wall with a large stone above it. Next door is a thermapolium with a counter containing four pottery jars sunk into the counter. Further along on the Via Stabiana is the Domus of Q. Octavius Romulus. Villa of the Papyri: The Villa of the papyri is a large residential complex situated on the slope of Vesuvius in Herculaneum. Judging from the size and value of the house, it can be said that the owner of the house was extremely wealthy. Unlike other ancient roman houses, it had its own water supply which in those days was extreme luxury. It was decorated with statues and columns of Greek influence. Praedia of Julia Felix: Julia Felix was an extremely wealthy woman from Pompeii who inherited her fortune from family. She owned a large estate which was decorated with floral motifs, statues and scenes of the Nile river aswell as a shrine to Isis the Egyptian goddess.

Indian Lubricant Industry An Introduction Marketing Essay

Indian Lubricant Industry An Introduction Marketing Essay Indian lubricant industry in a recent past has presented new market opportunities. Firm growth in the Indian power, engineering and automotive sectors has been a boon for lubricant manufacturers. In automotive sector, as consumers migrate to efficient vehicles and motorbikes, they use higher grade lubricants. As a result, multi-grade lubricant products are getting benefitted. In the industrial segment, high level of investment in manufacturing, transport and power sectors have the potential to drive very strong growth for marine aviation lubricants and transformer oil. The automotive lubricant market in India is highly price sensitive the volume growth is getting stagnated due to longer lasting lubricants. The retail trade and original equipment segment are two major marketing channels in the Indian context. Due to ever growing competition, tie-ups OEMs are becoming important as they provide the value proposition of a brand. In retail trade, Petrol pumps (ROs) form the major distribution channel. Sales of lubricants via ROs or the bazaar trade has changed the Indian automotive lubricant market into a FMCG sector. The other marketing channels are garages, super markets, rural and agricultural dealers, authorized service stations and wholesale distributors. PSU companies manufacture their own base oil and follow a different distribution strategy as compared to their private counterparts that solely dependent on imports. PSUs sell from their own wide spread network of ROs while private manufacturers prefer supermarkets. Engine oil plays the most important role in deciding the market share of lubricant manufacturers. Increase in demand for 4-stroke motorcycles, tie ups with OEMs and implementation of new norms of pollution are few of the key drivers of the growth of the engine oil segment. Growth in heavy commercial vehicle segment, increasing awareness among the customer base, new cooling technologies and OEM tie-ups has led to increase in coolant demand which has become the next largest segment in the automotive lubricants market. In brake oil segment, introduction of new brake systems, increasing growth in LCVs, consumption of lubes by CPVs and changing customer mindset related to specialty lubricants are believed to push demand further. The gear oil market is also growing fast and has high potential owing to increasing number of vehicles on road. Vehicles of new generation with advanced gear system technologies automatic transmission systems need special type of lubricants conceiving greater demand for API synthetic and multi axel gear oil, API MT-1, API GL-5 ultra-Matic, which reduces the oil changing intervals. In the long run, the overall picture for automotive lubricants sector looks bright due to growth of Indian economy along with increased purchasing power of consumers. BPCLs Lube Division Bharat Petroleum offers a complete range of Gear Oils, Automotive Engine Oils, Specialty Oils, Transmission oils and Greases. The fine quality of the lubricant and its correct usage ensures longer engine life and trouble free operation. Lubricants were totally deregulated during the liberation era of early nineties. Thereafter, a large number of players have forayed into this market. Despite operating in a totally competitive environment, BPCLs Lubricants SBU has been registering a growth in lubricant sales continuously over the past couple of years. As compared to 2008-2009, a growth of 13.73% has been achieved and sales volume of 231.12 TMT has been achieved. The channels viz. retail and direct saw a growth of 20%. BPCL has a strong RD competency, extensive distribution network; own source of Group II+ base oil, highly motivated and dedicated workforce which serves as a strengthening mechanism for it but due to increased competition and continuous phasing out of 2-stroke engines are threat to the company in its growth path. Birth of MAK In 1998, BPCL re-launched lubricants in new attractive packs. It was mainly in automotive category with three major brands- Automol for Petrol Engine oils, MAK for Diesel Engine oils and Glide for 2-3 wheelers. The year 2003, MAK was named as an umbrella brand and subsequently all industrial grades too were branded with it. MAK Lubricants sales and its market share The Lubricants business of BPCL delivered a sales volume of 231.12 TMT in 2009-10 as compared to 203.22 TMT in 2008-09, a growth of 13.73%. The volume of finished lubricants grew by 23% during the last year. Both the reseller channel and direct channel grew by over 20%. MAK Lubricants are now available at more than 23,000 retail counters across the country apart from the small mechanic shops and authorized service stations. Products like MAK Chakda and MAK Boat XP were launched during the year. There has been an expansion in customer base across the segments with prime focus on the key growth sectors. The wide range of products cater to normal applications like Engine oils to Hydraulic, Marine, Cutting and very specialized products for Defense applications and Railways. Products catering to specific applications like MAK Amocam Plus, MAK Steel for steel plant applications and superior Industrial Gear Oils were launched. In the retail channel, focus was on generating secondary sales at the retail outlet. Initiatives like One Day Wonder and MAK QUIK improved visibility of the brand and also offered a value proposition to the customers. Segment specific oils like MAK Auto XL and MAK D-Gen were introduced to cater to niche markets. The network of MAK distributors was further expanded with the objective of achieving leadership position in the high value grades. On the exports front, BPCL entered Sharjah and consolidated its presence in Nepal, Sri Lanka and Bangladesh. Point of Purchase Lubes Shop They are exclusive lubricants reselling points to facilitate the customers for their Lubricants requirement and confirming with the Quality and other standards of BPCL. The deregulation in the industry along with entry of multinationals has led to a shift of trade to the bazaar. Owing to huge potential with competitors providing huge discounts, BPCL too has forayed in this direction and has started giving discounts to the end customer instead of the channel. These branded lubes shops are available all across the country in all major cities. These C:UsersRomioDesktopLubeshoppe.gif MAK Garage BPCL started a campaign by enrolling the mechanic segment under the umbrella network of MAK Garage. It was launched in 2006 to promote the MAK lubricants and currently about 800 MAK garages across the country exclusively uses MAK Lubricants C:UsersRomioDesktopmak_garage.gif Hero Honda Service Stations JV between Hero Honda and Bharat Petroleum. The initiative is to utilize the vast BPCL network across the country to provide value added services to the customers through the City Work network at our ROs. Currently, there are around 170 Hero Honda City Works operating across the country C:UsersRomioDesktopcitywrk.png TASS TATA Authorized Service Station is yet another initiative for strengthening our relationship with TATA, Indian Auto Major. There is a joint collaboration for marketing co-branded greases, lubricants and specialty products MAK TATA products. TASS provides TATA vehicle service network throughout Dealer network across the country. This network of service is of two types SUVIDHA for TATA Ace vehicles and TASS for heavy vehicles C:UsersRomioDesktoptass.jpg VCC BPCL launched a new initiative VEHICLE CARE CENTRE at the retail outlets. This ought to provide esteemed customers state of the art facility at affordable rates. The network is in growth phase and is gaining huge popularity across the country. C:UsersRomioDesktopvcare.png MAK Quik Lube Oil Change To value the time proposition of the esteemed customers, new initiative MAK Quik Lube oil Change has been started at various outlets. It mainly caters to the Bike and Car/SUV customers for changing the Engine oil in the vehicles within a short span of time. The major advantages to the customer out of this initiative is à ¢Ã¢â€š ¬Ã‚ ¢ Quick Oil change in front of eyes à ¢Ã¢â€š ¬Ã‚ ¢Mechanized system of changing Oil which helps in removing the layer of old oil completely. à ¢Ã¢â€š ¬Ã‚ ¢Genuine MAK product à ¢Ã¢â€š ¬Ã‚ ¢ No Servicing cost- only the cost of product needs to be paid by the customers. à ¢Ã¢â€š ¬Ã‚ ¢ Fast turnaround time for the customers. à ¢Ã¢â€š ¬Ã‚ ¢ Exceptional offers to the customers C:UsersRomioDesktopservice_makquik.jpg OEM Tie-ups   Due to the ever growing competition, the tie-ups with OEMs have become important as they help in reinforcing the value proposition of a brand. BPCL is continuously working with OEMs to help them in providing the best value for money to the customers by developing and upgrading genuine oils for the vehicles and equipments by addressing the requirements of the changing technology. The marketing and RD teams have been providing the solutions for specialized lubricant applications in cement, power, steel, road construction, engineering and other leading industries in India. The RD team has developed about 300 different formulations in last 10 years out of which last 3 years saw about 50. BPCL has started its own LOBS plant in Mumbai by using the latest All Hydro Processing Technology a Chevron Lummus Global patent. This has enabled them to manufacture finer quality MAK Base oils beyond the requirement of API Group II which is rated as Group II plus. OEMs acknowledge BPCLs identity in producing quality base oil, best of RD capabilities and deep marketing acumen. OEM Partnerships BPCL has agreements with top notch automotive manufacturers which have both National and International presence. This is in addition to presence across the country with plethora of options available for all the sections of the industry. With superior technology, strong brands and vast distribution, MAK Lubricants is a perfect partner for OEMs looking for offering their consumers the best of products and services. Hero Honda Motor Limited It has an association with BPCL since the year 2004. MAK Lubricants has become the biggest supplier of engine oils in a span of first five years for initial fill and to Hero Honda Motor Limited dealers, Authorized service stations spare part stockists.   BPCL has been developing speciality products like Engine oils Shock Absorber with joint working with HHML that can meet the stringent HONDA, Japan specifications. Also, BPCL has started Hero Honda City Works exclusive service outlets for HHML customers  at BPCL ROs.http://www.maklubes.com/Images/HHSuperPremium4TPlus.jpg http://www.maklubes.com/Images/Hero_Honda.jpg This is the largest manufacturer of commercial vehicles in India. There exists a strategic alliance with Authorized Service Network, Tata Motors dealerships and Tata Motor Spare part dealerships for supply of Engine oils and Co-branded engine oils speciality products to. MAK Lubricants jointly works with Tata Motors in areas including joint product development, customer service promotion. MAK TATA MOTORS CH4 15W40, specially developed for Tata Motors, is authorized by Tata Motors to use in all commercial vehicles fitted with Tata Cummins Engine. Tata Motors Commercial Vehicles Division http://www.maklubes.com/Images/MAK_ATF-A.jpg http://www.maklubes.com/Images/tata_motors.jpg BPCL and GM have entered a strategic alliance to supply Co-branded engine oils and speciality products to the GM dealerships authorized service networks across the country. BPCLs GM MAK Genuine 15W40 Diesel Petrol Engine Oils are specially developed for GM is endorsed by GM for use in all its passenger cars and Utility vehicles.  General Motors India http://www.maklubes.com/Images/MAK_Genuine_Diesel_Engine_O.jpg http://www.maklubes.com/Images/general_motors.jpg The 3rd largest 2-wheeler manufacturer in India and among top ten in the world, TVS had an annual turnover of more than $1 billion in 2008-2009. BPCL and TVS Motor Company have an exclusive tie-up to supply engine-oils for initial service fill TVSM dealers, spare part stockists Authorized service stations. TVS TRU 4;  the 1st JASO MA2 specification oil of its type has been manufactured by BPCL for TVSM two- wheelers. It is available at all TVS Motor authorized dealerships workshops and BPCLs extensive reseller network. TVS Motor Company Limited http://www.maklubes.com/Images/Mak_TVS_tru4.jpg http://www.maklubes.com/Images/tvs_motors.jpg   LT KOMATSU A market leader in excavator segment, it commands greater than 50% of the market share. Tie-up for past 5 years for supplying oils LT Komatsu dealerships and users. BPCL also develop, manufacture supply specially formulated speciality products and hydraulic transmission oils for use in to LT Komatsu excavatorshttp://www.maklubes.com/Images/LT_Komatsu.jpg . Competitors of Bharat Petroleum Corporation Limited (BPCL) Lubricants HPCL IOCL Honda Engine Oil Yamaha Lubes Castrol India Ltd Savita Group Total Group, India Gulf Oil Corporation Ltd (Lubricant Division) Apar Industries Ltd The Andrew Yule Group Gagan Gases Ltd Balmer Lawrie Co Ltd Major Competitors Engine Oils used at authorized Service Stations Honda Engine Oil Honda 4-stroke engine oil is developed by the RD, Honda Motors Ltd., Japan. It conforms to International specifications of SAE 20W40 and API SJ. It has been developed keeping difficult driving conditions prevalent in India. Savita Chemicals Limited In 1961, it started as a small manufacturing unit in Mumbai started producing white mineral oil. Presently, SCL specializes in manufacturing of petroleum specialty products like petroleum jelly, liquid paraffin, white mineral oil, transformer oil, automotive other industrial lubricants. It is in technical collaboration with largest independent oil company of Japa, Idemitsu Kosan, for manufacturing automotive and industrial lubricants. It supplies lubricants to OEMs like Honda Siel, Toyota and HMSI. Yamalube ® These are made by combining base oils, additives and solvents; chosen and mixed to work perfectly for the vehicle. It was designed to work in harmony with the important mechanical components of vehicle. 4-stroke fully synthetic engine-oil for high-performance bikes and competition engines. 4-stroke semi-synthetic engine-oil Æ’Â   a unique blend for all road bikes in normal conditions. 4-stroke mineral engine oil premium quality 2-stroke semi-synthetic engine oil for 2-stroke engines Æ’Â  for standard or unleaded petrol engines. The Marketing Channels **Pie areas not to the scale Till date, the Indian consumers associate filling of lubricants to petrol stations. With the deregulation of market fierce competition, lubricant is being positioned as high involvement consumer goods. Hence, there is a resultant drift outside the petrol stations, shift to bazaar trade. In the developed World, Do-it-Yourself concept has evolved for filling up of engine oil as customers have high degree of awareness sensitivity. This is still the job of mechanics service stations in India. This shift had the following effects: Dumping of products in bazaar. Decline in Market Share of oil companies in public sector. Industry got transformed to FMCG owing to crowding of the market Entry of spurious lubricants. War of trade discounts ending in lesser margins for dealers. Consumer Buying Behavior To start the understanding of the behavior, first we need to know who the consumer is or rather we should define the consumer. A consumer is one who owns a motor vehicle; it can be a motor-bike, a car, a truck or an auto. Let us take example of a farmer who owns a tractor, jeep and a truck. He does not buy separate lubricants for his truck or tractor but rather he would buy for one in bulk and would use it for other two. This might be due to his belief that diesel oils are better than petrol ones. Also, in many parts of country, the farmers use left-over/old oils in their tractors/trucks into the agricultural pump sets. Motivators The main motivators or influencers in the buying decision of customers are retailers/mechanics/dealers. As quite obvious, the owner of the vehicle or the driver has a very little chance of knowing about the intricacies or the composition of the lubricant oils in the market. Initial purchase of lubricant for hi is influenced by the brand recommended by the dealer or the mechanic. Subsequent purchases may be influenced by the petrol pump attendants or dealers. He would go for the brand which provides him value for money and would not consider the costliest one. Favorite brands As seen during the study, the consumers are bargain seeker and can shift their loyalty for a matter of few bucks. This can be attributed to the fact that the purchase of lubricants is a low involvement purchase for the majority of people. For a person having multiple motor vehicles can purchase the engine oil and subsequently use them in some other means as for example in pumps as discussed earlier. But one who is having a sole motor vehicle say a truck would rather prefer to buy diesel than lubricants as this would directly have an effect on his livelihood. His choice of lubricants would be influenced by:- Promotions Now-a-days, by adopting a customer-oriented approach, companies focus on creating brand awareness via print and visual media. E.g., promotional campaigns and trade shows offer gifts to their customers; these are ways of driving sales of the automotive lubricants MAK MALAMAAL DAILY JEET KI KHUSHI SCRATCH WIN This promotional offer provides a chance to win up to Rs. 30 on MAK 4T plus 900 ml 1 ltr pack and a chance to win up to Rs.100 on selected MAK Petrol Diesel Engine oil packs from 3-5 ltrs. http://www.maklubes.com/MAKADMIN/Promotiondata/8_Image_JEET_%20KI_KHUSHI.jpg This promises the customers a Promise Tooth Paste and Binaca Toothbrush free with every pack of MAK GE 20W-50 : 1 ltr pack MAK PUMP 3.5 ltr pack. GADI MEIN DHAMAK HASI MEIN DHAMAK! http://www.maklubes.com/MAKADMIN/Promotiondata/10_Image_HASI_MEINDHAMAK.jpg MAK MALAMAAL DAILY KISMAT KI BALTI KHOLO This provides a chance to win up to Rs. 500 on purchase of MAK Lubricants Engine/gear oils packs from 7.5 -20 ltr packs. Double offer An unbreakable LED torch light free with every pack of 15 20 ltr http://www.maklubes.com/MAKADMIN/Promotiondata/2_Image_Kismat_ki_balti.jpg Awareness/Sales Booster Mechanism Diversification Going on the lines of innovation, BPCL MAK have embarked upon thinking beyond Lubricants. As a part of this inventiveness, MAK lubricants have through dynamic RD have offered new products catering to specific requirements and the problems faced by the customers. MAK All-Season HMO Apple Spray Tea Spray Oils This Horticultural Mineral oil is manufactured out of Group II plus MAK Base oils which are environment friendly, therefore, they not only protect the tender plants and fruits but also their users. It is superior to both Summer and Dormant Oils and has no side effects. All season protection Reduces number of sprays Broad spectrum protection against pests and diseases Avoids usage of synthetic pesticides Excellent crop return Valuable tool when it comes to integrated pest management programs Reduces pest control costs Environmental benefits Eco-friendly approach No residue on evaporation Organic biodegradable Safe on predatory complexes No toxic elements No interference with plant respiration Authentication Increases crop value

Nick Leeson’s strategy to earn trading profits on derivatives?

Nick Leeson’s strategy to earn trading profits on derivatives? Originally, trader Nick Leeson was supposed to be exploiting low-risk arbitrage opportunities that would leverage price differences in similar equity derivatives on the Singapore Money Exchange (SIMEX) and the Osaka Exchange. In fact, he made up a strategy to earn trading profits on derivatives where he would have to take much riskier positions by buying and selling different amounts of the contracts on the two exchanges or buying and selling contracts of different types. Leeson was speculating wildly and completely without authorization, in massive amounts on movements in the Japanese stock and bond markets. Leesons trading activities mainly involved three futures markets: Futures on the Japanese Nikkei 225 stock index, futures on 10-year Japanese Government bonds (JGB futures) and European futures. Leeson executed a trading strategy known as a straddle, with the objective of making a profit by selling put and call options on the same underlying financial instrument, in this case, the Nikkei 225 Index. Most of his trading was a bet on the volatility of the Tokyo stock and bond markets. In his futures positions, he was betting that the Tokyo stock market would rise and the bond market would fall. He was long Nikkei 225 futures, short Japanese government bond futures, and short both put and call options on the Nikkei Index. He was betting that the Nikkei index would rise, but he was wrong; instead it fell, causing him to lose $1.39 billion. A straddle will generally produce positive earnings when markets are stable but can result in large losses if markets are volatile. He planned his strategy taking into consideration the Japanese futures market as in Japan the margin is posted on a net basis for all costumers and if there are customers who are in short position, firm can take long position without any need to pay the call margin. He utilized this opportunity through his bogus error account 88888 and companies account 99002. What went wrong that caused his strategy to fail? Leesons strategy failed because he was taking into consideration that the market had experienced an extended bull run throughout the late 1980s and after that, it had fallen to half of its 1989 high. He thought that it had fallen enough and from now it would only go up, and he continued to bet that it would rise; but the Nikkei 225 index only kept falling. Leeson further increased the size of his open positions even as his losses increased due to volatility in the markets. He did nothing to hedge his position to lay off his potential losses if the markets did move the wrong way. In effect, Leeson was accepting unlimited liability. The second thing that was that he was relying on the bank interest rate; that it would decrease but eventually the exact opposite happened and the interest rate increased to a high. He thought if that the interest rates were low at the moment and if they were going to rise they would hurt him as more of the investors would move towards safe earning through the high interest rate returns, making the investment into market to reduce and hence to make himself on the safer side he invested into government bonds futures. Nick Leesons doubling strategy failed because he increased the size of his open positions even as his losses increased due to volatility in the markets and kept doubling his contracts whilst the Nikkei 225 continue to plummet following an earthquake in Japan. However, Leesons unauthorized trading positions suffered huge losses, and his operation unraveled. Moreover, interest rates did not rise as he expected which lead to further losses incurred on the Japanese government bond futures. He left the behind with huge liabilities totaling $1.4 billion, leading to the bankruptcy to the one of the oldest bank in Britain. Why did Nick Leeson establish a bogus error account (88888) when a legitimate account (99002) already existed? Nick Leeson established a bogus error account (88888) even when a legitimate account (99002) already existed, in order to conceal his unauthorized trading activities. Initially he claimed that he opened the error account (88888) to conceal a single loss of 20,000 pounds sterling that had resulted from an accounting error until he could make up the difference through trading. However, he continued booking various losses into the error account (88888) as a holding area for any premiums or losses that he made and also continued to increase his volume of trading and level of risk taking. It was a loophole he exploited to set up bogus accounts for non-existent clients to mask mounting debts. While the legitimate error account was known to Barings Securities in London, the bogus account was not. However, the bogus account was known to SIMEX as a customer account, not as an error account. In this way, Leeson could hide his balances and losses from London but not Singapore. One the other hand, SIMEX thought the bogus error account, 88888, was a legitimate customer account rather than a proprietary Barings account. The account enabled Leeson to take advantage of the rules of Japanese Futures market at that time. In Japan margin was posted on net basis for all customers. Therefore if many customers were short index futures, the firm could take long position without having to post cash margins. Why did Barings and its auditors not discover that the error account was used by Leeson for unauthorized trading? The reason why Barings and its auditors did not discover Leesons unauthorized trading and fraudulent activities was mostly a lack of internal checks and balances, and because Leeson was hiding in Barings organized chaos. Leeson was also given power due to his knowledge and there was no inquiry done into his trading just because he reported a profit to the company. Barings was impressed by Leesons achievements which lead them not to disclose to SIMEX that he infact had been disqualified from taking the UK traders exam (Broady, Roland, Woods, 2008). According to Ron Baker, the Head of Financial Products Group for Barings, There were no clearly laid down reporting lines with regard to Leeson, and in actual fact, there were several people responsible for keeping an eye on Leesons performance, but each one of them assumed that the other was watching closer than them, thus allowing Leeson several holes to get through. An internal auditor audited the Singapore office of Barings in 1994 and he reported that unauthorized trading could have happened because of the fundamental principle of the industry segregation of front and back office activities. The results were disclosed to the directors as well as some of the auditors recommendations, but the directors did not implement these recommendations (Collier Agyei-Ampomah, 2006). Moreover, Leesons actions could have been avoided if the Barings executives had done a comprehensive review of Leesons funding requirements, as well as set restrictions to what Leeson could or could not do. However, he also discovered that none of these changes to the internal structure had been implemented when the bank collapsed. One of the main reasons why Leeson was able to get away with so much was that there was no clear segregation of duties (Broady, Roland, Woods, 2008). The nature of the Japanese futures market at the time did not require exchanges to have a separation between the customer and the proprietary funds, which made it difficult to separate the funds and the position of the firm or customer. Leeson was left to be in control of everything that should have been checked by a superior or manager of some other department, which enabled him to track and modify the contents of his rogue account as he wished and keep his activities from being disclosed. Although the Director of BFS and the Finance Director of BSS, Simon Jones, pledged to the public that he would attend to the issue of segregation, he never actually took any action to separate Leesons front and back office doings. The Bank of England made a report on the matter and according to the report, the London senior management actually considered Jones to be an inadequate communicator, and were concerned with the fact that he was not as involved as he should have been in the affairs of BFS. Furthermore, the Bank of London also criticized the process of Leesons funding. Firstly, credit checks should have been performed on the large amounts of funds changing hands, but this was not performed either. Secondly, Bank of London discovered that there was no clear record of whether the funds reported were needed for its clients, or for its own accounts. This made reconciliation virtually impossible. The trading account was also not shown on any files or statements transmitted from Singapore to London, and thus auditors could not find any existence of the error account. Moreover, SIMEX categorized the 88888 account as a customer account rather than an error account. Internally, Barings had raised issues about having proper reconciliation in 1992. The risk manager of Londons branch, Gordon Bowser, had strongly recommended a development of a solid reconciliation process. However, Bowser left two others (Simon Jones and Tony Dickel) who had internal conflict over Leeson, to decide on the matter of reconciliation procedures, there was no solid arrangement between the two and Leeson was left to create the procedures for himself, allowing him to dictate the way he managed things. The loss of reconciliation meant that auditors could not trace the nature of these funds and thus they were unable to uncover the error account that Leeson used for his tradings. Over the years, there were several cases of internal conflict which was beneficial to Leesons stealthy activities. A particular example of this was in 1995, where SIMEX became apprehensive about the ability of Barings to meet its large margins in Leesons error account. SIMEX addressed a letter to Simon Jones, with the letter noting that a further $100 million should have been in account 88888. Instead of addressing the matter himself directly, Jones passed the letter to Leeson for Leeson to draft a response on his own. Lastly, when Leesons activities were finally being caught on by SIMEX, but they had not managed to find out exactly what was happening, SIMEX posted another letter to the Singapore branch, expressing doubts about Barings ability to fun margin calls. The letter was then referred back to London and from there; SIMEX was assured that opposite positions were being held in Japan. However, the truth was no opposite positions were being held and SIMEX officials made no follow-up checks with Osakas Stock Exchange to authenticate the claims. Why did none of the regulatory authorities in Singapore, Japan, and the United Kingdom not discover the true use of the error account? None of the regulatory bodies of Singapore, Japan on the UK discovered the true use of Leesons error account because firstly, it was visible to them only as a customer account, and SIMEX had also granted an exemption on the number of contracts that Barings could hold with the presumption that Barings was hedging and not speculating. This is in fact due to Barings conservative firm reputation, which lulled exchange and clearing houses into a false sense of security. Additionally, Barings speculative position was hidden with the use of an omnibus account and with this account, the brokers customers identities could successfully be hidden from the exchange and clearing houses. A number of happenings in the UK also allowed Leeson to hide and manage his activities easier. At that time, the Bank of England had a rule known as the Large Exposure Rule which stated that a bank is unable to lend more than 25% of its capital to any single entity. Barings made a request to Bank of London for an exception and argued that one exchange should not be classified as one entity. The supervisor in charge of Barings activities recognized the argument and the request and promised to review it and in the meantime, he offered Barings an informal concession for Japan, which Barings extended to Singapore and Hong Kong. On the matter of the Large Exposure Rule, the supervisor failed to respond until one whole year later, and his answer was that there were no exceptions to be made and the positions taken under the informal concession should be unwound. By that time, the damage had already been done. The Bank of England also found that following the consolidation of Baring Securities Ltd and Baring Brothers and Co., it allowed the two to be categorized as one entity for capital adequacy and large exposure purposes, but the process of this consolidation was too informal and the results of it played a part in Leesons unauthorized activities. This not only meant that Leeson could hide his activities, but also the fact that he had access to a much larger pool of capital. Why was Barings Bank willing to transfer large cash sums to Barings Futures Singapore? Barings Bank believed that the large cash sums transferred to Barings Futures Singapore was for loans to customers as portrayed on the Barings Futures Singapore balance sheet. The key aspect of Japanese Future market was that exchange did not require a separation between customer and propriety funds. Therefore it was impossible to distinguish between the firms and the customers position. Why did the attempt by the Bank of England to organize a bailout for Barings fail? Throughout that weekend, the Bank of England hosted meetings in London to try to form a consortium to bail out Barings. The attempt by the Bank of England to organize a bailout for Barings failed because no one would assume the contingent risk of additional, but as yet undiscovered losses. Bank of London made a huge effort to organize a bailout for Barings bank. The bailout failed because Barings bank reached the position where losses amounted more than double the capitalization of the bank;, estimated losses approached $1.1 billion. Further losses were inevitable and thus there was no one ready to assume the contingent risk of additional but yet undiscovered losses. The bank was trapped in such a situation that the amount of future losses was unknown and unrevealed due to the unauthorized dealing by Nick Leeson. Suggest regulatory and management reforms that might prevent a future debacle of the type that bankrupted Barings. There have been numerous cases of collapses and overwhelming losses to companies in the corporate and banking sector and this called for some serious reformation, with particular attention to derivatives. The entire sector did not sit up and take notice until the Baring Brothers bankruptcy. How could an entity steeped with trust and history fall apart with no signs? Following the bankruptcy, reports were created by the Bank of England, SIMEX, and the Group of Thirty to suggest ways in which regulators and legislators could increase monitoring of financial activities. After the collapse of Barings Bank, an article was published with the name of Global Institutions, National Supervision and Systemic Risk, and this article underlines the reforms and changes in the financial sector that have already been implemented. The reforms that have already been implemented included: the expanded usage of netting and collateral; enhancements in methods to measure risk; greater off-balance-sheet risk disclosure; extensive increases in major financial institutions equity capital, financial sector consolidation; and encouragement of growth of securitization. The Bank of Englands report detailed how the losses occurred, the reason the losses were unnoticed in and out of Barings, and the lessons learnt from the bankruptcy. The following are the five lessons the Bank of England identified (Ambit ERisk, 2010): Management teams have a duty to understand fully the business that they manage; Responsibility for each business activity has to be clearly established and communicated; Clear segregation of duties is fundamental to any effective control system; Relevant internal controls, including independent risk management, have to be established for all business activities; Top management and the Audit Committee have to ensure that significant weaknesses, identified to them by internal audit or otherwise, are resolved quickly. The list that Bank of England came up with seemed simple, but the truth was one (or usually several) points listed were often the reason why corporations lost large amounts of money in the derivatives market. Other ways in which to prevent future debacles like the Barings collapse would be an increase in supervision of employees. Leeson never had a trading license prior to his arrival to Singapore and there was scarce monitoring of his activities since no one person was directly responsible for supervising his trading activities (Burnett, 2006). Also, a clear reporting line should be enforced because Leesons fraud could have been facilitated by confusion in having two reporting lines: one to London for proprietary trading and the other to Tokyo for customer trading. Top management should also be aware of the business that they are dealing with. In the case of Barings Bank, Leeson was reporting huge profits to the company but top management should have known that arbitraging is a relatively low risk and low profit business (Collier Agyei-Ampomah, 2006), so how on earth could Leeson have been reporting such massive profits? Top management could have identified these flaws immediately if they had known and had they done their job properly (Narayanaswamy, 2008). It is thus very important for top management to have sufficient knowledge of the field (or be involved in) to understand the complexities of business and its fundamental concepts. Based in Washington DC, the Group of Thirty began to be particularly apprehensive of the risks that derivatives posed. The Group has issued numerous periodicals to address these problems, mainly publications like International Insolvencies in the Financial Sector, Discussion Draft, which outlined fourteen ideas to reduce risk in the financial sector, particularly with derivatives. Another publication titled International Insolvencies in the Financial Sector, Summary of Comments from Respondent Countries on Discussion Draft, which showed member countries responses and opinions regarding the proposed changes to financial institutions. It was noted that the support for these changes were generally strong among all the countries that responded, which showed how Barings failure rocked the entire worlds confidences in the financial sector.

Meiosis :: essays research papers

Meiosis is a specialized form of nuclear division in which there two successive nuclear divisions (meiosis I and II) without any chromosome replication between them. Each division can be divided into 4 phases similar to those of mitosis (pro-, meta-, ana- and telophase). Meiosis occurs during the formation of gametes in animals. Meiosis is a special type of cell division that occurs during formation of sperm and egg cells and gives them the correct number of chromosomes. Since a sperm and egg unite during fertilization, each must have only half the number of chromosomes other body cells have. Otherwise, the fertilized cell would have too many. Inside the cells that produce sperm and eggs, chromosomes become paired. While they are pressed together, the chromosomes may break, and each may swap a portion of its genetic material for the matching portion from its mate. This form of recombination is called crossing-over. When the chromosomes glue themselves back together and separate, each has picked up new genetic material from the other. The constellation of physical characteristics it determines is now different than before crossing-over. In Meiosis 1, chromosomes in a diploid cell resegregate, producing four haploid daughter cells. It is this step in Meiosis that generates genetic diversity.Meiosis 2 is similar to mitosis. However, there is no "S" phase. The chromatids of each chromosome are no longer identical because of recombination. Meiosis II separates the chromatids producing two daughter cells each with 23 chromosomes (haploid), and each chromosome has only one chromatid. During prophase I, homologous chromosomes pair and form snynapses. The paired chromosomes are called bivalents, and the formation of chiasmata caused by genetic recombination becomes apparent. The bivalent has two chromosomes and four chromatids, with one chromosome coming from each parent. In prometaphase I, the nuclear membrane disappears. One kinetochore forms per chromosome , and the chromosomes attached to spindle fibers begin to move. In metaphase I, bivalents, each composed of two chromosomes, align at the metaphase plate. The orientation is random, with either parental homologue on a side. This means that there is a 50-50 chance for the daughter cells to get either the mother's or father's homologue for each chromosome. In anaphase I, chiasmata separate.

Interpreting Hamlet’s Ophelia Essay examples -- GCSE English Literatur

Interpreting Hamlet’s Ophelia Was Ophelia in love with Hamlet, or did she have more feeling for her father than for her boyfriend? In Shakespeare’s Hamlet was Ophelia’s madness contributed to by the prince’s rejection of her? The answers to these and other questions about this tragic figure will be given. Rebecca West in â€Å"A Court and World Infected by the Disease of Corruption† argues that Ophelia has no love for Hamlet, but only for her father: For the myth which has been built round Hamlet is never more perverse than when it pretends that Ophelia went mad for love and killed herself. No line in the play suggests that she felt either passion or affection for Hamlet. She never mentions him in the mad scene, and Horatio says of her, â€Å"She speaks much of her father.† Indeed she was in a situation which requires no sexual gloss. Her father had been murdered by a member of the royal house, and she found herself without protection, since her brother Laertes was in France, in the midst of a crisis such as might well send her out of her wits with fear. For the Danes hostile to the royal house made of her wrong a new pretext for their hostility, and the royal house, noting this, turned against her, helpless though she was [. . .]. (109) Beginning now with the play, the reader/viewer sees that the protagonist of the tragedy, Prince Hamlet, initially appears dressed in solemn black. He is mourning the death of his father, supposedly by snakebite, while he was away at Wittenberg as a student. Hamlet laments the hasty remarriage of his mother to his father’s brother, an incestuous act; thus in his first soliloquy he cries out, â€Å"Frailty, thy name is woman!† Ophelia enters the play with her brother Laertes, who, in parting for s... ...ies.† Readings on The Tragedies. Ed. Clarice Swisher. San Diego: Greenhaven Press, 1996. Rpt. from Shakespeare’s Women. N.p.: n.p., 1981. Shakespeare, William. The Tragedy of Hamlet, Prince of Denmark. Massachusetts Institute of Technology. 1995. http://www.chemicool.com/Shakespeare/hamlet/full.html Ward & Trent, et al. The Cambridge History of English and American Literature. New York: G.P. Putnam’s Sons, 1907–21; New York: Bartleby.com, 2000 http://www.bartleby.com/215/0816.html West, Rebecca. â€Å"A Court and World Infected by the Disease of Corruption.† Readings on Hamlet. Ed. Don Nardo. San Diego: Greenhaven Press, 1999. Rpt. from The Court and the Castle. New Haven, CT: Yale University Press, 1957. Wilkie, Brian and James Hurt. â€Å"Shakespeare.† Literature of the Western World. Ed. Brian Wilkie and James Hurt. New York: Macmillan Publishing Co., 1992.

Besides his military abilities, what made Alexander successful? What were the most important consequences of his conquests? :: essays research papers

Alexander was successful because of his willingness and ambition to be the best that he could be as a leader. In the beginning of his success, him and his army were deprived of money so he sought quick and decisive battles to gain money and supplies from the conquered territory. Because of Alexander’s ambition to be on the top, he thought of countless ways to be victories in battle, Alexander â€Å"won a smashing victory in characteristic style: He led a cavalry charge across the river into the teeth of the enemy on the opposite bank, almost losing his life in the process and winning the devotion of his soldiers. The coast of Asia Minor now open, Alexander captured the coastal cities, denying them to the Persian fleet (Craig, 105).†   Ã‚  Ã‚  Ã‚  Ã‚  Another reason what Alexander was so successful was because of his greediness. Craig states that while Alexander was in Tyre, Darius offered him his daughter and his entire empire west of the Euphrates River in exchange for an alliance and an end to the invasion but Alexander wanted the whole empire. So Alexander’s greediness motivated him to create more battles.   Ã‚  Ã‚  Ã‚  Ã‚  Alexander seemed to be a very curious type of person. Alexander was filled with plans for the future, â€Å"for the consolidation and organization of his empire; for geographic exploration; for new cites and roads, and harbors; perhaps even for further conquests in the west (Craig, 107).† As history has shown it, Alexander was one of the greatest generals the world has seen, â€Å"he never lost a battle or failed in a siege, and with a modest army, he conquered a vast empire. He had rare organizational talents, and his plans for creating a multinational empire was the only intelligent way to consolidate his conquests (Craig, 107).† Also, Alexander established many new cities, which these cites promoted commerce and prosperity and introduced Hellenistic civilizations into new areas, as stated in Craig.   Ã‚  Ã‚  Ã‚  Ã‚  Alexander’s most important consequences of his conquests was when he came to Persepolis, the Persian capitol, which held splendid palaces and the royal treasury, â€Å"this bonanza ended his financial troubles and put a vast sum of money into circulation, with economic consequences that lasted for centuries (Craig, 107).† Also, as part of his grand scheme of amalgamation and conquest, â€Å"he married the Bactrian princess Roxane and enrolled thirty thousand young Bactrians to be trained for his army (Craig, 107).

Marine Science Review Guide Essay

Know that the 3 adaptations that allow phytoplankton to float are: cavities in the center of their cells, cells contain oils and fats, and spines around the cavities Are phytoplankton the base of the oceanic food chain? What things do phytoplankton need to survive? What percentage of the Earth’s oxygen are phytoplankton responsible for producing? Which type of phytoplankton are responsible for red tide? What negative effects can red tide cause for the marine environment? If upwelling aids in phytoplankton growth, would less upwelling affect phytoplankton numbers? How? How does a decrease in phytoplankton affect the rest of the food web? Would harmful algal blooms cause erosion? If phytoplankton help reduce carbon dioxide on Earth, what would an increase amount of phytoplankton do for carbon dioxide amounts? Marine Iguanas (Lesson 4.07) What do they primarily feed on? What adaptations allow them to live and eat in the water? Where do the marine iguanas live (they are only found in this one area of the world)? Why do these cold blooded organisms lay on the rocks instead of stay in the cold water? What is the main reason for their decline in population? Galapagos Islands (Lessons 4.04, 4.06, 4.07) Why do the same species on different Galapagos Islands have slightly different traits? What is the process of adapting to live more successfully and survive in a habitat called? Food Chains/Webs (Lessons 4.08, 4.09) Know order of organisms in a food chain. (primary producer, consumers – tertiary, quairtinary, primary, secondary, and the role of the decomposer) Would bacteria be considered a decomposer? What happens to the 90% of energy that does not transfer to the next trophic level in a food chain? What amount of energy gets transferred to each level of the food chain as you move up it? Know how to choose organism types in a food chain EX: phytoplankton = primary producer Be able to create a food chain from a list of marine organisms Be able to explain the difference between a food chain and a food web Are higher trophic level animals generally larger in size and fewer in numbers? Which organism in a food chain has the most energy?

Energy Drinks Market in Denmark

Table of Contents 1. Introduction3 1. 1 line of work Description3 1. 2 Problem Statement3 1. 2. 1 What is the resource of customers between give the axe and redness talk through ones hat? 3 1. 2. 2 How should ignite w ars be schooled and how should they be priced? 3 1. 2. 3 How should Coca-cola Denmark promote and distri scarcelye thin? 3 1. 3 Definitions3 1. 3. 1 capability tope3 1. 3. 2 fire discombobulate-up-and-go sup inable4 1. 3. 3 rose-cheeked diddlyshit nil drunkenness4 1. 4 Demarcations (Scope and limitation of the study)4 2 Theoretical Background4 2. 1 market place air division5 2. 2 Competitive benchmark abbreviation5 2. 3 Marketing im amalgamateing (4 Ps)5 3 modeology Description5 . 1 Research Design5 3. 2 Primary and secondary info grade of battle5 3. 3 soft in h senileation arrangement6 3. 4 numeric selective information hoardion6 4 Presentation and synopsis of data6 4. 1 Market Segmentation of wee-up-and-go foxs6 4. 1. 1 summ ary of Foc apply meeting interview6 4. 1. 2 digest of Online querynaire stack7 4. 2 antagonist benchmark ( tr finish up and exit copper)10 4. 2. 1 Analysis of Focused crowd interview10 4. 2. 2 Analysis of Online questionnaire survey11 5 Findings and summary of the comp containium13 6 Recommendations14 6. 1 crossroad14 6. 2 Price14 6. 3 fundament14 6. 4 promotion14 7 Conclusion15 References16 9 Appendices17 1. Introduction danish barmy bedevils sales ready record confirmative volume growth in juvenile years. Strong volume growth was recorded in nix topes sales attri simplyed to the combative merchandising and raw(a) harvesting launches. whatsoever of the major players in the danish cypher draw commercialize argon sting and loss damn. Accordingly, the primary(prenominal) aim of this tell exit be to identify and read the contingent ways for sting muscularity fox harvest-home to get by with the hu creation existences famous cogency absorb bolshy prick which has recently entered into danish talent assimilate grocery store in 2009. . 1 Problem Description In 2009, the danish pastry Veterinary and Food Administration authorise the increase of caffein level in power drink. This has uniformuated a wide-open-door for drunkenness companies to develop in this segment. Taking receipts of this opportunity, blood-red bull the worlds most famous competency drink comp whatsoever, started to repugn within the danish nix drink grocery store. On the some new(prenominal) hand, Coca-cola Denmark overly considered it as an opportunity to further develop product chain of its button drink switch off.In Denmark, cauterise has been dominating the animation drink market so outlying(prenominal) but right off with the entry of deprivation cook into the market it exit now strike to strategically develop its selling mix to find a divulge way to grapple with blushing(a) hair and observe its dominant position . 1. 2 Problem Statement We define the problem question for our seek as fol pocket-sizes How could tan compete with rosy dirt on the Danish nada drink market? To reliever main question we experience hypothesize some sub questions. They atomic number 18 as follows 1. 2. 1 What is the preference of customers between write out and rubor pig? . 2. 2 How should force out products be unquestionable and how should they be priced? 1. 2. 3 How should Coca-cola Denmark promote and distribute blaze? 1. 3 Definitions 1. 3. 1 vigor drink qualification drink potful be define as a drink or the bever days that contains laster doses of caffeine and other stimulating bestridents that give you instant nix. The doses of the caffeine and the stimulants ar legally approved by the government health authorities. The main nominate of drinking an Energy drink is to get an instant muscularity to your body. 1. 3. 2 hit the ceiling brawniness drink reduce Energy Drink is a functi onal bever get on with, miscellanea of 14 ingredients that come in a 16 ounce eject and is usable at almost e real(prenominal) securities industry salt away or public convenience store across Denmark. It is one of the products of Coca- dummy Company. 1. 3. 3 blushful horseshit dynamism drink blood-red pig Energy Drink is a functional bever time, specially developed for periods of increase mental and physical exertion. It seat be drunk in virtually any situation during sports, at work, whilst driving and during waste activities. 1. 4 Demarcations (Scope and limitation of the study) As e actually report has its limitations, this report is besides defeat to heterogeneous limitations.This report is metrical footd on cardinal products, sting and cerise cop which be the products of The Coca-Cola Company and The blushful doodly-squat Company respectively. These two companies cod non-homogeneous product categories however this report will be poreed however on th ose two products among wide category of energy drink in energy drink celestial sphere. As off the beaten track(predicate) as the market place is concerned, this report is limited to the Danish market. Most of the squanderrs of energy drinks in Danish market ar mainly the younger people eond 18-25. Considering this position we have selected this age appeal as our quarry multitude. 2 Theoretical BackgroundThis persona of the report helps to render the broad hypothetic framework used for interpreting the interrogation presented in this report. Various merchandise theories have been applied as a reach in this report. Theory of Market family line is used to poll rationalize and inflammation turd in the Danish Market. To analyze the tilt between kindle and rubicund Bull, antagonist Benchmark Analysis is used. in the end Using the theory of Marketing unify (4 Ps), recommendation to Burn has been made to successfull develop its marketing campaign so that it giv e the axe increase its sales and compete with flushed Bull. 2. 1 Market segmentationMarket segmentation will be identified by pickings into love the demographic variables ( bid gender, different age pigeonholing and behavior style) and geographical locations ( respective(a) cities of Denmark) like have-to doe with of Copenhagen, Sj? lland, Fyn and Jylland 2. 2 Competitive Benchmark Analysis Competitive benchmark of Burn will be made with its commit competitor, loss Bull. For this we will take various federal agents which argon olfactory modality, gustatory sensation perception, brandmark, price, place ( convenient to bargain for), packaging and intensity level of the products. During our mathematical base treatment these factors came up as the most relevant criteria for qualification militant benchmark.Accordingly, respondents were asked to rate and esteem twain Burn and Red Bull on those factors during the online survey. 2. 3 Marketing Mix (4 Ps) Marketing Mix i. e. 4 Ps will be taken as theoretical base for providing recommendation to Burn after the synopsis of data and findings be presented. Accordingly, Product, Price, Place and Promotion Strategy will be presented in regulate for Burn to successfully compete over against its rival Red Bull. Then after, the stopping point will be made. 3 Methodology Description This section of the report gives info roughly the stages that we went through piece of music doing the explore and writing the report. 3. Research Design We chose searching design as our interrogation design. We have a explore problem which is un incorporated. We do non have enough education about our topic for which we have to enquire more on our topic. Both Qualitative and decimal data collection methods be used. To gain more and more breeding and insights about the problem topic, Qualitative research design was chosen. Using qualitative data collection method, it became easier for us to change empathise and reformulate our unstructured questions. Quantitative method is also used in read to check the validity of the results obtained from qualitative method.For quantitative data collection we tried to get as many respondents as possible who can represent the sum total macrocosm. 3. 2 Primary and secondary data collection For this research we have chosen both Qualitative and Quantitative data collection method for primary data. also, wherever required, we have also used secondary data from the articles, publications and website of the company as hale as blogs and other relevant news articles. 3. 3 Qualitative data collection To collect the qualitative data, a focus group interview was conducted. We prepared the interview turn over for the focus group which is attached in the appendix.The focus group contained 11 members who are the students from second semester class at Niels Brock. subsequently the completion of interview process we also took a craft test among the focus group i nterview participants plus 15 other students. Students were chosen randomly. Each of them were given to drink two glasses, one modify with Burn and a nonher filled with Red Bull and were asked which one they like and how they taste. The responses from the participants were used for the compend. 3. 4 Quantitative data collection To collect quantitative data, we prepared structured questionnaire. It consisted of 15 questions (open and closed ended questions).We stick on our research questionnaire in the Facebook blogs and invited 600 Facebook users through simple- school principaled random method. We got only 116 responses and of which only 77 respondents answered all questions of questionnaire. So in this research 77 respondents are our total keep down of observation. In other words our smack size is 77 which represent the total population of energy drink customers in Denmark. 4 Presentation and outline of data The presentation and epitome of data has been categorize as Mark et segmentation and Competitor Benchmark. 4. 1 Market Segmentation of energy drinks 4. 1. 1 Analysis of Focused group interviewDuring the center group interview, 11 participants were asked about the consumption of energy drink e genuinely hebdomad. Among the participants, 1 participant consumes 5 or more cans per week. 4 respondents consume 3 to 4 cans and 1-2 cans as hale. Whereas, 2 respondents consume less than 1 can of energy drink. Thus their consumption habit is around 1-4 cans per week. When there was a word of honor about the occasions during which they consume the energy drink, most of the answers was during workout, training or departure to sports and when mixing with alcohol. There was also a discussion about having coffee sooner of energy drink when one is hackneyed. participants state that they prefer coffee whereas others favourite(a) energy drink. Regarding price, most of the respondents voted for cheaper one, less than 20 DKK and between15-17 DKK. 4. 1. 2 Anal ysis of Online questionnaire survey The willingness of various age groups towards energy drink is illustrated in the plot below. It shows that 56% of respondents from age group 18 to 25 years are implicated in energy drink. Figure 1 Willingness of various age-groups towards energy drink reference auxiliary 4 Similarly, 20% of respondents from the age group below 18 and 26-35 years age group showed their take in energy drink.But only 4% of the elderly respondents are provoke in energy drink. Thus, it can be seen that the highest look of people from the age group 18-25 years are interested in the energy drink. Figure 2 Willingness towards energy drink by gender stemma vermiform appendix 5 The above look shows that 68% of manful population is interested in energy drink whereas only 32% of fe staminate population is interested in Energy drink. Figure 3 Willingness towards energy drink by location bloodline Appendix 6 According to the above send off, most of the responden ts from center of Copenhagen are interested in energy drink. 8% respondents from the Copenhagen expanse and 32% respondents from Sj? land region showed interest in energy drink. While digestng the age wise consumption of energy drink which is illustrated in the conformation below it has been seen that the data is bit conflicting. Figure 4 senesce wise consumption of energy drink Source Appendix 7 As shown by the diagram, those who almost never drink energy drinks are higher in age group 18 to 25 years. But again, those drinking from 1-2 cans per week are also higher number in age category 18-25 years but less ompared to those who never drink. But what can be concluded that those who drinks energy drinks they unremarkably consume 12 cans per week and are higher in 18-25 years category. Analyzing the favorite(a) occasions when customers commonly like to drink energy drink, the research show that customers usually prefer it to mix with alcohol as their first preference and henc e drinking when they are tired. Figure 5 infrequent preference of Energy Drink by gender Source Appendix 8 The above graph shows most of both fe manlys and males consume energy drink when they mix with alcohol. 2 females out of 35 female respondents (63%) and 19 males out of 42 male respondents (45%) tell they consume it when they mix with alcohol. Similarly 43% of female and 40 % of male respondents answered that they take energy drink when they are tired. Likewise, 11% female and 33% male give tongue to that they take it when they go to sports. 14% of female and 21% of male chose energy drink when they are thirsty and 6% of female and 7% of male chose for other occasions. Figure 6 Customers willingness to pay for the energy drink Source Appendix 9Relating to the price it can be all the way seen from the figure above that 18-25 years age group which is the target customers for energy drinks are willing to pay 16-20 DKK for the energy drinks where as 26-35 years age group are wi lling to pay 10-15 DKK for the drink. 4. 2 Competitor Benchmark (Burn and Red Bull) 4. 2. 1 Analysis of Focused group interview During the think group interview, 8 out of 11 participants preferent Red Bull. Only 3 preferred Burn. When there was a discussion of product features like taste, touch and effectiveness of the products participants verbalise that effectiveness of the product is grave.During the blind test 26 participants were made to taste both Burn and Red Bull drinks blindf anciented. Table 1 taste sensation of product by tasting without fucking the product (Blind Test) BurnRed BullBoth Total no. of participant (26)9152 The research showed that Red Bull was highly preferred by the participants with 58% appreciating the taste of Red Bull. Burn was preferred by only 35% of the participants. 4. 2. 2 Analysis of Online questionnaire survey The illustration of various measures to which the consumer gave importance when purchasing energy drink is shown in the figure be low. Figure 7 Customers emphasis when bargain energy drinkSource Appendix 10 We found data of customers fit to the importance they give to various measures or elements when they want to barter for an energy drink. The above graph shows that 53% of the total respondents verbalise flavor is actually grand when they vitiate energy drink. About taste, 60% say it is genuinely authoritative. None of the respondents verbalise that it is non consequential at all. Talking about brand, only 19% said very outstanding, 34% said principal(prenominal), 30% said not so important and 17% said not important at all. About price, 51 %( more than one-half population) said that it is very important.Only 5% said not so important and no respondents said that it is not important at all. So far as convenient place to buy is concerned, 29% said very important, 54% said important. When packaging is concerned 16% said very important, 29% said important 39% said not so important and 16% said not important at all. When it is about effectiveness, 44% said it is very important, 38% said important. Thus the analysis shows that flavor, taste, price, convenient buying options and effectiveness of the drinks are important for customers where as brand and packaging are not that important in buying decision. base on the various factors to which the consumers give preference when buying energy drinks, comparative analysis between Burn and Red Bull has been carried out. This can be described from the figure given below. We asked the respondents to evaluate Burn and Red Bull giving them 4 options ( actually Good, Good, Bad, rattling Bad). But here in the analysis we have taken only two options as we think these two options are sufficient for comparative analysis. Figure 8 Comparison of Burn and Red Bull based on the various factors Source Appendix 11 The above figure shows the customers preference between Burn and Red Bull on he various factors which are important for their buying dec ision. 34% of the total respondents said the flavor of Burn is close and 23% said very heavy while 48% and 29% said the flavor of Red Bull is heartfelt and very good respectively. Similarly, 39% and 13% of the total respondents said the taste of Burn is good and very good respectively while 52% and 29% respectively chose good and very good for the taste of Red Bull. As far as brand is considered, 39% and 26% said the Burn brand is good and very good respectively while 42% and 45% said Red Bull brand is good and very good respectively.When it is about price, 27% and 12% chose good and very good for Burn while 16% and 12% for Red Bull. 35% and 23% of total population said Burn is good and very good respectively when considering convenient to buy whereas for Red Bull it is 38% and 17% respectively. About packaging 36% and 22% answered good and very good for Burn while for Red Bull its 45% and 18%. Finally for the effectiveness of the product, 39% and 18% respectively chose good and very good for Burn while it is 45% and 25% for Red Bull.Thus the analysis shows that customers highly prefer Red Bull while relating to flavor, taste, and brand. On the other hand, with relating to price, convenient to buy and nice packaging, customers seemed to prefer Burn. So far as the effectiveness is concerned, Preference towards Red Bull is high but the difference is not so much. 5 Findings and summary of the analysis According to the analysis presented above, it can be seen that the energy drink market segmentation is more operose on the approachumers between age group of 18-25 and that the customers are dominantly male rather than female. looking for at the geographic distribution the market segment is undoubtedly concentrated on Copenhagen with to some extent also in Sj? land. However, the other fact is also that since Copenhagen is the largest city with dense population this result is sort of obvious. The other important findings of the study regarding the life style of the customers relating to the consumption of energy drinks is that energy drinks are excessively consumed as a mix in alcohol and then it is consumed while people get tired. alike energy drinks are oftentimes consumed only when 1 or 2 cans per week. ordinarily customers are willing to pay 16-20 DKK for the drink.The analysis shows that in general the customers give high importance to the flavor, taste, price, effectiveness and buying convenience while making their buying decisions of energy drinks and that the brand and packaging are not of importance for the customers. Keeping this in mind the competitor benchmark of Burn and Red Bull Red Bull clearly shows that though Red Bull being a new entrant in the Danish market it has succeeded in taking good share of energy drink market in Denmark. Red Bull is preferred by customers in harm of its flavor, taste which are important factor in general for customers while making their buying decisions.Similarly, with the effectiveness as well Red Bull is preferred by customers in comparison to Burn. Burn is preferred by customers in packaging which not of important factor for customers. But Burn still dominate Red Bull in terms of its easy availableness at stores which is delinquent to the fact that it is distributed by Carlsberg Brewery which is considered to have a very severe distribution job in Danish market. (footnote) Again at price Burn is rated punter owing to the fact that they are cheaper than Red Bull. Of course with the brand Red Bull is rated much better as it is an internationally recognized brand. Recommendations base on above findings hobby recommendations have been suggested for Burn to improve its products, promotion and pricing strategy. The recommendations will be based on the marketing mix (4 Ps) which is product, price, place and promotion. 6. 1 Product Since the research findings show that Red Bull has dominant preference by customers in terms of flavor, taste and effectiveness, there fore Burn has to come up with innovative product ontogeny in order to provide added value to its product so that customers preferences depart towards Burn.Therefore, considerable amount of resources and time should be spent on research and growth of variety of flavors and charitable taste with its product. Since the market segment of the energy drink is generally 18-25 years hoary and that they consume it as mix in alcohol so the taste preference of these age group should be taken into consideration and the flavor and taste should be developed which is appealing while mixing with alcohol as well. 6. 2 Price Relating to the price, Burn is cheaper that Red Bull and realizing the fact that Red Bull is gaining market share it is wise to maintain its low price strategy. . 3 Place The research show Burn with plastered placement but since strong distribution channel is its one of core competencies it has to fully utilize this competences to move ahead form Red Bull to place its prod ucts at all the convenient stores. The major anteriority should be given to Copenhagen since its the main market segment but again taking advantage of its well managed distribution channel it should also focus on other cities where Red Bull are not able to reach due to lack of experience with the Danish market. . 4 Promotion A well plan announce strategy should be developed mainly targeting on the 18-25 years age group and again the male customers who are the major customers of energy drinks. Though Red Bull is world recognized brand, Burn also has its brand reputation as it is a product of world class Coca Cola Company. Thus advertising campaign should also be focused to create awareness of the Coca Cola brand among the customers while promoting Burn which can positively influence customers choice. Conclusion Based on the research analysis and findings, it can be concluded that within the Danish energy drinks market Burn is in spades getting a tough competition from Red Bull des pite the fact the Red Bull is a new entrant in Danish market. Its planetary brand recognition has provided Red Bull with combative strength which can be a serious threat to Burn in coming future. Therefore it is a must for Burn to take incidentally action and initiate necessary marketing strategies to compete with Red Bull.Burn has low price advantage as well as strong distribution channel which provide Burn with an edge in the competitive market and therefore it involve to look more into product development and promotion strategy in order to compete with Red Bull and and so gain success in the competitive energy drink market. 8 References Books David Jobber. (2007). Principles and utilise of Marketing. UK. McGraw-Hill Education Pervez GH, Kjell Gr. (2005). Research Methods in business line Studies. UK. Pearson Education Bryman, A. and Bell, E. (2007). Business Research Methods. 2nd Ed. UK.Oxford University Press Burns, A. C. and Bush, R. F. (2006) Marketing Research, 5th ed. , prentice Hall Kotler, P. and Keller, K. L. (2006) Marketing Management, 12th ed. , apprentice Hall Svend Hollensen, (2007) Global Marketing a decision-oriented approach, Websites http//www. euromonitor. com/Soft_Drinks_in_Denmark http//advantageaustria. org/dk/news/local/Red-Bull-und-Shark. en. jsp http//www. aeofooddrink. com/34. php http//www. dietspotlight. com/burn-energy-drink-review/ http//www. redbull. com/cs/planet/en_INT/Products/Red-Bull-Energy-Drink-021242751115866? =1242745950125/product-FAQ 9 Appendices Appendix 1 Questionnaire salutary respondents, we make this survey in order to obtain more comprehensive association about the energy drink sector in Denmark, particularly the two commodious brands Burn and RedBull. So we would highly respect if you spend a few proceeding answering our questionnaire. Your information will be treated anonymously 1. How interested are you in energy drinks? oVery interested oInterested onot very interested oNot intererested at all 2. How often do you drink energy drinks? oAlmost never oFrom 1 2 cans per week From 2-5 cans per week oMore than 5 cans per week 3. ON WHAT occasion DO YOU DRINK ENERGY DRINKS? oWhen Im tired oWhen Im thirsty oWhen I go to sports oWhen I mix with alcohol oOther (please specify in the box below) 4. Where do you often buy energy drinks? oIn the super markets oIn the bars oIn sevener Eleven oIn small shops (eg gas station, carrel etc) oOther (please specify in the box) 5. How much would you like to pay for an energy drink? o10 15 Kr o16 20 Kr o21 25 Kr oMore than 25 Kr 6. How important are the following factors when you buy energy drinks?Very important Important Not so important not important at all Good flavor Good taste Good brand Reasonable price agreeable to buy Nice packaging The effectiveness of the drinks 7. Which of these brands do you know? oBurn oRed Bull oNone of them 8. Which one of these brands do you prefer? oBurn oRed Bull oNone of them 9. How do you evaluate RED shucks in the following factors? Very goodGoodNot good-not self-aggrandisingBad Very bad defect Taste Flavor Price commodious to buy Packaging Effectiveness 10. Do you have any recommendations for RED BULL to better meet your satisfaction? I dont know oIm already very slaked oI would recommend as follows 11. How do you evaluate BURN in the following factors? Very good Good Not good-not bad Bad Very bad stigmatize Taste Flavor Price Convenient to buy Packaging Effectiveness 12. Do you have any recommendations for BURN to better meet your satisfaction? oI dont know oIm already very satisfied oI would recommend as follows 13. What is your age? oYounger than 18 years old oFrom 18 25 years old oFrom 26 35 years old 14. What is your gender? oMale oFemale 15.Which part of Denmark do you make love in? oCenter of Copenhagen oSj? lland oFyn oJylland Appendix 2 hearing guide for focus group What criteria do people choose when they buy energy drink products? Are different flavors impor tant? What occasion do they drink energy drink? Eg when theyre tired, or mix with strong alcohol, etc. What product name(s) do they like? Why? Do they know Burn/Red Bull? Where do they buy? Do they like Burn/Red Bull products? How much should a can of energy drink cost? Appendix 3 Fokus gruppe analyse 2. Semester klasse Niels Brock Lien, Niraj, Silas og MichelleMarket research Alle kender begge 11 deltager 8 ud af 11 kan lide red bull Dog viste det at 6 ud af 11 faktisk kun valgte Red Bull efter blinde smagning Smagen er bedre, burn er for sodt. (inden smagning af begge m? rker) Hvor mange energidrinks drikker du per uge? 1 drikker 4-5 cans a week 4 3-4 cans 4 1-2 cans 2 mindre end 1 Hvornar drikker du energidrinks? Sprut, tr? ning, Det er meget i forhold til det at man drikker alkohol. Enighed blandt minimum 8 af deltagerne Dog drikker mange det ogsa hvis de er tr? tte eller skal til tr? ning efter en lang dag i skole.Kaffe frem for energi drink hvis man kan lide det hvis man er tr? t og skal videre, dette mener 6 ud af 11 af deltagerne hvor de andre ikke kan lide kaffe eller mener at en energi drik er bedre Hvor meget vil du betale for en energidrink? Ikke mere end 20kr, mellem15-17kr ca er de fleste villige til at betale workforce ville kobe den billigste hvis de stod mod hinanden pa hylden i super marked. Energien er mere vigtig end smagen. Irriterende reklamer for meget nogenhed provokerende reklamer mener 2 af deltagerne, Red Bull promoverer ikke sadan (I Dk hvert fald)