Smithfield Foods Company

Smithfield Foods Company Background description on Smithfield Foods Company Smithfield Foods Company produces and manufactures pork and pork products. It is the largest pork producing company in the world. The company was established in 1936 and the current headquarters are based in Virginia. Smithfield Field raises approximately 14 millions pigs annually.Advertising We will write a custom assessment sample on Smithfield Foods Company specifically for you for only $16.05 $11/page Learn More The company processes about 27 million pigs are each year, to produce pork and beef products. Various brand names are used in the global markets to represent the pork and beef products. Smithfield has experienced various challenges in offering better products in the market. The management has made efforts to improve the performance of the company, and to reduce the negative effects of its activities (Smithfield Foods website, 2011). The implementation of Customer Relationship Management will help improve the performance of the company, both internally and externally. The challenges facing the company will be resolved by installing and implementing eth CRM system. However, the management should have strategies of ensuring that the system is successful because there will be various challenges to be experienced during the implementation process (Thomas, 2011). The issues and challenges facing Smithfield Foods Company According to Hirsch and Person (2009), Smithfield experiences many problems concerning its relationship with customers, employees, environment groups, and other stakeholders in the industry. The customers of the company have complained about exploitative process imposed to the products of the company. The company has been able to dominate the global market, and this makes it impose prices discriminatively (Pride Ferrell, 2008). Smithfield has been sued for its poor waste management practices. It was alleged that the company disposes untreated animal waste into wa terways. This has affected the health standards of the workers and the neighboring communities. Cases of bad animal waste stenches have been reported by the people living around the company (Fainaru, 2009). A fine of $12.6 was issued to the company in 1997 for violating Clean Water Act. Despite the efforts made by the company to operate in a clean environment, the company has been alleged to spread swine flu due to its poor waste management practices.Advertising Looking for assessment on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More It was reported that the company failed to dispose dead animal bodies, and dogs would consume the carcasses. In addition, people living around the company were reported to complain about headaches. Therefore, the outbreak of H1N1 in 1999 was linked to the company (Squier, 2011). The company has also been practicing poor animal handling. The pigs live in crates which are too small. In addition, transportation of the animals is done poorly such that some animals end up dying on the way. Animal abuse has been reported, and this has affected the demand for the products of the company. The need to know the source of foods found in the market has increased, and this has created the need for customers to seek information about the process of manufacturing as well as production of food components. As such, the treatment of animals has become important in determining good practices by manufacturers. This has affected the market for the products produced by Smithfield Foods Company because the company has been mishandling animals (Thomas, 2011). In addition, most of the customers are concerned about the welfare of the employees’ working conditions. The company has been sued severally for its poor workplace conditions. The management of the company interferes with the operations of the labor union of the employees. This makes it possible for the company to oppres s its employees because it can easily manipulate the rules of the union. For example, in 1994 and 1997, the United Food and Commercial Workers Union (UFCW) sued the Smithfield Foods Company for manipulating elections of the union. The National Labor Relations Board had issued injunction to the management of the company to stop interfering with the activities of the union. In 2006, the management of the company failed to provide finances for conducting fair elections at the union. Due to the unfair practices of the company employees have held several public demonstrations to protest the behavior of the company (Bacon, 2008).Advertising We will write a custom assessment sample on Smithfield Foods Company specifically for you for only $16.05 $11/page Learn More The UFCW called for mass boycott of Smithfield’ products in 2007 and this affected consumer perception about the products of the company. The campaign affected the image of the company’s p roducts in the domestic and global markets. Even though an agreement to stop the boycott was reached between the UFCW and the company, the demand for the products from the company has been affected due to the poor working conditions of the company. In addition, the image of the company has been tarnished, and the company may lose its global market share in the near future. Smithfield has encounter other disputes which have caused it incur a lot of fines. For example, in 2009 the company was penalized $900,000 for engaging in illegal merger (Pope Treacy, 2011). The benefit CRM will bring to Smithfield Foods Company By adopting Customer Relationship Management (CRM) strategies, the company will interact with customers. This will help identify the problems that customers may have concerning the products offered by the company to the market. The company will identify changes in consumer demand, and any aspect of the products that the customers may wish to be added. With the implementat ion of CRM, the customers will be able to convey information to the company. This will help the employees to develop products according to the specific needs of the customers. Since the company has many customers, and operates in many countries, the introduction of CRM will help get in touch with all customers by establishing appropriate information collection system (Sunil, Krishnan Fornell, 2005). The CRM system will help the company identify complaints from customers and other stakeholders. By installing an electronic CRM, the management of the company will easily monitor the feedbacks provided by stakeholders.Advertising Looking for assessment on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Communication with relevant departments will also enhance the provision of appropriate remedies to the prevailing problems. The company requires using the information obtained from the customers to develop strategies of improving the welfare of its employees, animals and to maintain appropriate environmental standards (Eugene, Fornell Mazvancheryl, 2004). Developing custom-made products will be possible by applying the CRM strategy. The company will be able to identify the specific needs of the customers, and this will be incorporated in the product design, performance strategies as well as improving the environmental conditions. Therefore, the company will achieve higher customer satisfaction, and this will lead to higher profits being made. Consumer loyalty will also be achieved when customers are satisfied (Hennig, 2000). Customers develop a repurchase behavior when they are satisfied by the products and services of a certain company. The high levels of customer satisfaction wil l help improve the market position of the products of the company. As such, the company will achieve a higher competitive position in the domestic and global market. This will help improve the sales made by the company, and ultimately it will be able to dominate the global markets (Asim Mela, 2003). Developing appropriate marketing campaigns will be possible by the use of CRM. Smithfield has experienced boycott campaigns against its products in the past. By applying CRM, the company will be able to overcome challenges it encountered in the past where the image of its products was tarnished. The application of CRM will neutralize the negative campaigns provided by the UFCW (National Labor Relations Board, 2008). According to Shimp (2010), conducting corporate social responsibility will be possible by applying CRM. The company has experienced moments of poor brand image in the global image, and there is need to develop strategies of promoting the image of the brands of the company by conducting corporate social responsibility activities. These activities will help build a better product image among all consumers of the company’s products. Identifying the social needs of the communities where the company operates in will be possible by implementing the CRM strategy. The company can collect information from all stakeholders concerning projects which are essential for improving the status of the communities (Ruth, Kannan, Bramlett, 2000). By conducting CSR activities, the company will develop better relationship with the communities where it operates in, and thi9s will help improve the image of the company in the global markets. Meeting the social needs of the communities will help resolve some problems the company has been facing in the past. For example, the challenge of environmental cleanliness can be dealt with more easily by mobilizing communities to help clean up the water ways. By installing appropriate facilities to protect the communities from be ing affected by the animal waste will also help improve the relationship with the neighboring communities. This implies that the company will develop strategies of promoting better environment by collecting information from the neighboring communities by the use of CRM tools (Owyang, 2010). The type of CRM system that is best suited for Smithfield Foods Company The use of closed-loop CRM is the most applicable for Smithfield Foods Company. The closed-loop CRM helps customize marketing campaigns and measures their effectiveness. This helps improve the overall performance of an organization. Through the closed-loop CRM system, the company will measure how effective the organizational systems are. It also predicts the customer behavior in the future. The available data is modeled to predict the behavior of consumers in future. The system also allows managers to act upon the observed behavior of customers. Since Smithfield Foods Company aims at improving the overall satisfaction of all stakeholders, using the closed-loop CRM system will be the most applicable because it will help identify the factors affecting all stakeholders (Kale, 2009). The types of multi-channels venues the company should adopt in this CRM approach The first channel is measuring the extent of CRM. This means that the company will measure the success of implementing the CRM by the use of profits, sales volume or any other organizational aspect. The measures should be easy to quantify so that the management can know the extent to which the company has achieved change after implementing the new strategies (Kale, 2009). The other channel will involve acting to accomplish the CRM system is taking action. After identifying the appropriate CRM to be applied, the management must act on the strategies to ensure that they are impended. This will ensure that the entire process is complete. This channel ensures that the strategies are implemented according to the requirements of the customers and other s takeholders (Foss Stone, 2002). Predicting is the last channel in the implementation of the CRM channel. This will help determine the future requirements of the company. Prediction provides the management with the necessary strategies for improving the performance of employees to achieve the changing market conditions. By applying the current market variables, the management can predict the market performance or the behavior of customers in the near future (Kale, 2009). The areas of support the company needs for a successful implementation of CRM The company will need support in financing the implementation of the system. Installing a workable CRM requires having enough capital resources. The funds can be sourced internally or from external sources. The company should be ready to pay all expenses associated with any method of providing funds to finance the process. In addition, the company will require support in the areas of professional skills. There implementation of the CRM pro cess requires the use of appropriate professions to ensure that the entire process is successful. To achieve this, the management will be required to outsource people with skills to perform the activities of implementing the CRM process. Alternatively, The Company can train its employees to implement the CRM internally. This will reduce the costs; however, the internal employees may not have all the skills required in the implementation of the CRM process (Dyche, 2002). The company should consider outsourcing its software Smithfield Foods Company should use outsourced CRM system. This is a system whereby the company makes a contract with another company to supply with CRM system. This type of system is the most suitable because Smithfield Foods does not specialize in manufacturing and developing CRM system. Outsourcing the system will improve on the quality of CRM system developed for the operation of the company’s activities. In addition, developing the CRM system might requ ire special skills and professions, and these may be costly for the company. Outsourcing the system will also help save the time that would have been used to developed the system by the employees of the company (Kale, 2009). Some of the hardware’s the company needs to consider Smithfield Foods Company will need to install internet systems in almost all departments of the company. In addition, computers and computer peripherals will be required to capture the required data. The use of data capturing and analysis tools will help implement the strategy of the company. With the use of internet system, the stakeholders of the company will be able t communicate with the management of the company. The company will be required to install data recovery system. This will help retrieve data in case the system is affected by viruses or any other malicious damage. Soft copy and hardcopy of the most valuable data should be kept as a security measure (Kale, 2009). How the company will addre ss the changes in organization To address the changes in the organization, the management will be required to communicate with all the stakeholders to inform them about the expected changes. A discussion should be introduced to allow all stakeholders provide their opinions concerning the new system of management. The employees should be prepared psychologically to allow them accept the new system of operation. This will help change their mindset so that they can easily adapt to the new system. This will help reduce conflicts as a result of rejection of the new system. In addition, the skills of the employees will have to be aligned with the new system of operation. For instance, employees will have to be trained on how to use the communication system so that they can acquire better skills (Kale, 2009). In addition, the employees will have to be trained on the technologies required to collect data from the customers and other stakeholders. Business partners with the company will have to be informed and involved in the transition process. As such, the ideas of the business partners will be of great importance because they will enable the management to improve on its operational systems. Suppliers to the company will have to be communicated about the new demand and needs of the company. Change in the products supplied will be essential because better materials will be required to improve the quality of pork manufactured. Communicating with suppliers will also improve the process of production. Materials required in the waste management process will be required (Kale, 2009). Issues relating to implementation of a successful e-CRM Successful implementation of CRM system will help reduce conflicts between Smithfield Foods Company and its customers. The company will be able too develop better strategies of improving customers’ satisfaction. Therefore, the level of customer loyalty will be high after implementing the CRM system. The system will also improve the corporate social responsibility of the company. By the use of the CRM, the management of the company will develop better strategies of improving the welfare of the communities where it operates (Shin, 2005). In addition, the company will have better strategies of dealing with waste emanating from the production and manufacturing process. The conflicts between the company and environmental activist groups will be eliminated because the company will easily communicate with the stakeholders to identify any necessary changes in the strategic management of the company. Therefore, the CRM system will improve the status of all stakeholders of the company, and this will help improve the profits, competitiveness and market position in the domestic and global markets (Kale, 2009). Management of CRM To manage the CRM system of the company in the long-term, the management will be required to develop a Research and Development (RD) team to carry out research about changes in consumer behavior. The team will monitor the system and any improvements will be done accordingly. It is important for the RD team to identify the best solutions to the challenges facing the company. The team should also predict the future expectations of consumer behavior. The management should work in collaboration with the RD team to develop appropriate strategies. In addition, the ideas from external and external stakeholders should be collected to ensure they are involved in the decision making process. The CRM system will have to be developed according to prevailing customer needs. Since customers are the final users of the products of the company, their opinions should be highly valued. Therefore, the company should have a good relationship with its customers so that they can provide the necessary information about developing the CRM system (Kale, 2009). List of References Asim, A. Mela, C. F. 2003, â€Å"E-Customization.† Journal of Marketing Research, 40 (2), 131–145. Bacon, D. , 2008, Illegal people: how globalization creates migration and criminalizes immigrants, Massachusetts: Beacon Press. Dyche, J. 2002, The CRM handbook: a business guide to customer relationship management, New York: Addison-Wesley Professional. Eugene W. A. Fornell, C. Mazvancheryl, S. K. 2004, â€Å"Customer Satisfaction and Shareholder Value.† Journal of Marketing, 68 (3), 172–185. Fainaru, S. 2009, Mexicans Blame Industrial Hog Farms, The Washington Post, May 10, 2009. Foss, B, Stone, M. 2002, CRM in financial services : a practical guide to making customer relationship management work, London: Kogan Page. Hennig, T. 2000, Relationship marketing: gaining competitive advantage through customer satisfaction and customer retention: with 24 tables, Berlin: Springer. Hirsch, J. A. Person, J. L. 2009, Commodity Traders Almanac 2010, New jersey: John Wiley and Sons. Kale, V. 2009, A guide to implementing Siebelcrm, New Delhi: Tata McGraw-Hill Education. National Labor R elations Board (eds), 2008, Decisions and Orders of the National Labor Relations Board, National Labor Relations Board (U.S.), 347. Owyang, J. 2010, Altimeter Report: The 18 Use Cases of Social CRM, The New Rules of Relationship Management. Web. Pope, C. L. Treacy, D. H. 2011, Corporate social responsibility report 2008/09. Web. Pride, W. M. Ferrell, O. C. 2008, Marketing Express, Massachusetts: Cengage Learning. Ruth, B., Kannan, P. K. Bramlett, M. D. 2000, â€Å"Implications of Loyalty Program Membership and Service Experiences for Customer Retention and Value.† Journal of the Academy of Marketing Science, 28 (1), 95–108. Shimp, T. A. 2010, Advertising, promotion, and other aspects of integrated marketing communications. Mason, Ohio: South-Western Cengage Learning. Shin, N. 2005, Strategies for generating e-business returns on investment, Hershey, PA: Idea Group. Smithfield Foods website. Squier, S. M. 2011, Poultry science, chicken culture: a partial alphabet, Ne w Brunswick, N.J: Rutgers University Press. Sunil, M., Krishnan, M. S. Fornell, C. 2005, â€Å"Why Do Customer Relationship Management Applications Affect Customer Satisfaction?† Journal of Marketing, 69 (4) 201–209. Thomas, G. 2011, Animals, International Law, International Trade, and Morality, Netherlands: Kluwer Law International.

Market government Article Example | Topics and Well Written Essays - 1750 words

Market government - Article Example However the generally accepted view points out to the housing bubble to be the prime reason. It all started with the collapse of Lehman Brothers and quickly penetrated into the market causing turbulence and system crash. This recession did not take place as a result of a business cycle that generally affects each and every economy. A number of reasons underlie this particular case of financial crisis including that of the shocks arising in the general business cycles which has been instrumental in disrupting the labor market equilibrium in the United States. The entire issue of the financial crisis is to be reviewed from all the angles of economics including the neoclassical, mixed liberal and the radical points of view to have a perspective of the entire event. This paper will enlighten the various perspectives put forward by the different schools of thoughts and accordingly place their views in the following paragraphs. The Neo Classical economists base their theories on the microeconomic principles which include the optimization of the individuals and firms and to determine the equilibrium price and output in the economy using the market forces of demand and supply. The theory considers that the people make rational decisions based on the information that they have about the market. The neoclassical economists explain the fluctuations in the economies as a result of the upturn of the business cycles in the economy (Blanchard, 2000). The economic variables that generally behave in a particular fashion in order to result in a recession have behaved in a most unusual manner in case of this particular financial crisis. The level of consumption, output investment as well as the employment of labor was much low. By analysis of the economic variables it was found that the crisis of the present period is much more severe compared to that of the Great Depression of 1937 or any other recessions that have ta ken place in the world. The drop in the level of

Why did Peace Fail in 1914 Essay Example | Topics and Well Written Essays - 1250 words

Why did Peace Fail in 1914 - Essay Example The main European countries that had developed considerable power in the continent included Germany, France, Great Britain, Italy and Russia (Keegan, 1999, p38-39). This paper explores various factors that made it virtually impossible for peace to prevail during the First World War. First World War broke out shortly after the assassination of Archduke Franz Ferdinand, the heir apparent to the Hapsburg throne by Serbian terrorists in 1914. However, the incident was not the cause, but a catalyst for large scale conflict that had been looming in Europe for a long time. Various factors had contributed significantly to the gradual build up of the war in Europe. Joll and Martel (2006) indentified economic rivalries, increased nationalism, imperialism, and militarism in addition to formation of alliance systems as the major causes of First World War. Economic rivalry among European powers had become intense in the late 19th century and at beginning of the 20th century. According to Kennedy (1988, p72), economic competition for overseas markets, especially between Great Britain and Germany had reached epic levels. According to David (2005), Great Britain was the undisputed economic power in much of the 19th century and its strong military forces had galvanized the country’s position as the leading superpower in Europe and in the world. However, unification of Germany into a nation state accompanied by ambitious economic policies stimulated unprecedented development, which challenged Great Britain’s influence in the continent. One of the major causes of economic rivalry was trade disputes, arising from tariffs imposed on goods of competing countries in the overseas markets. According to Fussel (2000), tariff disputes emerged not only between Germany and Britain, but other growing economies in the region, such as Italy and France, Serbia and Austria, in addition to Germany and Russia among other trading partners. The subsequent economic competition resulted into tense and suspicious relations between concerned countries, making war inevitable. Large-scale militarisation was one of the major consequences of increasing competition between rival countries in Europe. According to Keegan (1999), each country attempted to build and strengthen its military power leading to arms race in European continent. Between 1870 and 1914, David (2005, p107) noted that military expenditure among the competing countries in Europe increased by 300 percent. Most countries introduced mandatory conscription of all citizens above eighteen years into the armed forces. Development of Germany’s military was particularly phenomenal. According to Kennedy (1988, p69), the country had over 8 million soldiers compared to Britain’s 750,000 in 1913. Although Britain had one of the best trained and equipped military, the growth of Germany’s defence forces was a major cause of tension in Europe. According to Fussel (2000), Germany’s military p ower was vastly superior to France, one of Great Britain’s allies. In addition, Germany naval expansion presented a real threat to Great Britain’s security. Germany’s rapid economic growth and superior military presence aggravated its quest for more power and influence in Europe. Germany’s military build up and consistent aggressive rhetoric indicated that the country was prepared for large-scale war, with an intention of challenging other powers in the continent. The period before eruption of First World War was characterized by stiff competition for colonies in other continents especially in Africa and Asia. Industrial revolution in Europe necessitated the need for more natural resources, and

Single Nucleotide Polymorphisms as Human Disease Markers Essay Example for Free

Single Nucleotide Polymorphisms as Human Disease Markers Essay In using single nucleotide polymorphisms (SNPs) to match subtle DNA changes with an individual’s susceptibility to a disease of interest, one can start by distinguishing the suspect DNA from a preset standard using the technique of restriction fragment length polymorphism (RFLP). In this method, copies of extracted and purified DNA are made using the polymerase chain reaction (PCR) before being cut up by preselected restriction endonucleases, and the resulting fragments subjected to electrophoresis. Once a suspect sequence in the fragments obtained is found, it can then be subjected to a sequencing technique that can pinpoint the nature of the SNP. One such method is Pyrosequencing, where a sequencing primer is prepended to the fragment under scrutiny and is mixed with a cocktail composed of a DNA polymerase, ATP sulfurylase, luciferase (the enzyme responsible for making luciferin in luminous animals glow), and apyrase, as well as luciferin and adenosine 5’-phosphosulfate (APS). Deoxyribonucleotide triphosphates (dNTPs, four in total, corresponding to the four DNA bases) are added, one by one, into the reaction mix. For each time a dNTP is added, the polymerase causes the incorporation of the dNTP into the strand at appropriate positions, if any are present, with the simultaneous release of pyrophosphate, in an amount that is equimolar to how much nucleotide was used in incorporation. The pyrophosphate reacts with the APS, catalyzed by ATP sulfurylase, to produce ATP which participates in the chemoluminescence reaction of luciferin and luciferase. The amount of visible light generated by the reaction is proportional to the amount of ATP generated, and this is recorded by a special camera and noted as a peak into what is called a Pyrogram. How much light is generated depends on how much dNTP was used up. Any unused dNTP and ATP present in the mix is degraded by the apyrase. The sequence of the fragment can then be read off from the peaks of the gradually being produced Pyrogram. Specially constructed software can then spot SNPs by comparing the Pyrogram of the fragment of interest with known Pyrograms. By using an â€Å"association study†, where people with the trait and a control group are compared with regards to the presence of â€Å"marker alleles†, or alleles that can be shown to be present only in people with the disease. SNPs are convenient for this purpose since SNPs are easily inheritable and occur usually more frequently in genes than the other possible variations. This is most useful for diseases that can be shown to be influenced by only a single gene, for association is difficult enough when done on a single gene. Accuracy in identification can be had by having the affected and the control be as closely related as possible, since differences that might be disease-related will be easier to spot. References: Ronagi, M. Elahi, E. (2002). Discovery of single nucleotide polymorphisms and mutations by Pyrosequencing. Comparative and Functional Genomics, 3(1), 51-56. Li, M., Boehnke, M., Abecasis, G. R. (2006). Efficient study designs for test of genetic association using sibship data and unrelated cases and controls, The American Journal of Human Genetics, 78, 778–792.

The Destruction of Family in 1984 :: essays research papers

The family unit of Oceania in George Orwell’s book, 1984, plays an important part to society. These families are broken rather than households of affection and comfort. Oceania’s government, called the Party, controls the families in every aspect. With these non-existent families, there is a cycle of breaking down of family and a stronger Party as times passes until a there is force strong enough to end it. These families that lead to corruption in society should be avoided in order to prevent a totalitarian government from rising. In order to keep their power, the government purposefully breaks up families in Oceania. The pieces of these hollow and artificial families are the building blocks of the vast and manipulative Party. Families need to be non-existent so that the people cannot unite or feel loved. However, the Party also needs to have total control over the children. In Oceania, it is normal to turn other people in when you have any suspicions that the person does not have genuine love for the Party. Even family members give each other up. The government-controlled families create a cycle of breaking down of family and a stronger Party. The future families that will produce more probes disguised as children. With more children taught to continue the legacy of the Party, there is increased authority of the government. As government gains more power, the people lose will over their own lives. This should not be the way of life for people, where you can be erased from history at any given time. There is no doubt that there are many families that are just as and maybe more inexpressive and false than the families in Oceania. However, the greater masses of the people don’t believe in a strict society of absolute control. If enough families were to border upon the Parsons family, then the domino line would be in effect. Through his book, Orwell attempts to warn us that the destruction of families is dangerous. If allowed to continue, the government will have too much control over a mindless society that could be turne d any which way the ruling class chooses. Ultimately, dysfunctional families create a selfish and unsuspecting society that is ruled by a government of great dominance over the people. The Destruction of Family in 1984 :: essays research papers The family unit of Oceania in George Orwell’s book, 1984, plays an important part to society. These families are broken rather than households of affection and comfort. Oceania’s government, called the Party, controls the families in every aspect. With these non-existent families, there is a cycle of breaking down of family and a stronger Party as times passes until a there is force strong enough to end it. These families that lead to corruption in society should be avoided in order to prevent a totalitarian government from rising. In order to keep their power, the government purposefully breaks up families in Oceania. The pieces of these hollow and artificial families are the building blocks of the vast and manipulative Party. Families need to be non-existent so that the people cannot unite or feel loved. However, the Party also needs to have total control over the children. In Oceania, it is normal to turn other people in when you have any suspicions that the person does not have genuine love for the Party. Even family members give each other up. The government-controlled families create a cycle of breaking down of family and a stronger Party. The future families that will produce more probes disguised as children. With more children taught to continue the legacy of the Party, there is increased authority of the government. As government gains more power, the people lose will over their own lives. This should not be the way of life for people, where you can be erased from history at any given time. There is no doubt that there are many families that are just as and maybe more inexpressive and false than the families in Oceania. However, the greater masses of the people don’t believe in a strict society of absolute control. If enough families were to border upon the Parsons family, then the domino line would be in effect. Through his book, Orwell attempts to warn us that the destruction of families is dangerous. If allowed to continue, the government will have too much control over a mindless society that could be turne d any which way the ruling class chooses. Ultimately, dysfunctional families create a selfish and unsuspecting society that is ruled by a government of great dominance over the people.

Merchant Banking

Merchant Banking Merchant banking may be defined as, â€Å"an institution which covers a wide range of activities such as management of customer services, portfolio management, credit syndication, acceptance credit, counselling, insurance, etc. † Merchant Banks are popularly known as â€Å"issuing and accepting houses†. They offer a package of financial services. Unlike in the past, their activities are now primarily non-fund based. One of the basic requirements of merchant banks is highly professional staff with skills and worldwide contacts.The basic function of merchant banks is marketing corporate and other securities, that is guaranteeing sales and distribution of securities. All the aspects- origination, underwriting and distribution of the sale of industrial securities are handled by them. They are experts and good judges of the type, timing and terms of issues and make them acceptable to investors under prevailing preferences and market conditions, and at the sa me time afford the borrowing company, flexibility and freedom that it needs to meet possible future contingencies.They guarantee the success of issues by underwriting them. They also provide all the services related to receiving applications, allotment, collecting money, sending share certificates and so on. The merchant banker normally does not assume all the risk himself while underwriting the issue. Merchant banks offer services also to investors. The range of activities offered by merchant banks is much wider than sponsoring public issues of industrial securities. They offer project finance, syndication of credit, corporate advisory services, mutual fund investments, investment management etc.Services of Merchant Banks †¢ Project Counselling: Project counselling includes preparation of project reports, deciding upon the financing pattern to finance the cost of the project and appraising the project report with the financial institutions or banks. It also includes filling up of application forms with relevant information for obtaining funds from financial institutions and obtaining government approval. †¢ Issue Management: Management of issue involves marketing of corporate securities viz. equity shares, preference shares and debentures or bonds by offering them to public.Merchant banks act as an intermediary whose main job is to transfer capital from those who own it to those who need it. After taking action as per SEBI guidelines, the merchant banker arranges a meeting with company representatives and advertising agents to finalise arrangements relating to date of opening and closing of issue, registration of prospectus, launching publicity campaign and fixing date of board meeting to approve and sign prospectus and pass the necessary resolutions. Pricing of issues is done by the companies in consultant with the merchant bankers. †¢ Underwriting of Public Issue:Underwriting is a guarantee given by the underwriter that in the event of under subscription, the amount underwritten would be subscribed by him. Banks/Merchant banking subsidiaries cannot underwrite more than 15% of any issue. †¢ Managers, Consultants or Advisers to the Issue: The managers to the issue assist in the drafting of prospectus, application forms and completion of formalities under the Companies Act, appointment of Registrar for dealing with share applications and transfer and listing of shares of the company on the stock exchange. Companies can appoint one or more agencies as managers to the issue. Portfolio Management: Portfolio refers to investment in different kinds of securities such as shares, debentures or bonds issued by different companies and government securities. Portfolio management refers to maintaining proper combinations of securities in a manner that they give maximum return with minimum risk. †¢ Advisory Service Relating to Mergers and Takeovers: A merger is a combination of two companies into a single company where one s urvives and other loses its corporate existence. A takeover is the purchase by one company acquiring controlling interest in the share capital of another existing company.Merchant bankers are the middlemen in setting negotiation between the two companies. †¢ Off Shore Finance: The merchant bankers help their clients in the following areas involving foreign currency. (a) Long term foreign currency loans (b) Joint Ventures abroad (c) Financing exports and imports (d) Foreign collaboration arrangements †¢ Non-resident Investment: The services of merchant banker includes investment advisory services to NRI in terms of identification of investment opportunities, selection of securities, investment management, and operational services like purchase and sale of securities. †¢ Loan Syndication:Loan syndication refers to assistance rendered by merchant bankers to get mainly term loans for projects. Such loans may be obtained from a single development finance institution or a s yndicate or consortium. Merchant bankers help corporate clients to raise syndicated loans from banks or financial institutions. †¢ Corporate Counselling: Corporate counselling covers the entire field of merchant banking activities viz. project counselling, capital restructuring, public issue management, loan syndication, working capital, fixed deposit, lease financing acceptance credit, etc. bibliography a manual on merchant banking by JC Verma Merchant Banking Merchant Banking Merchant banking may be defined as, â€Å"an institution which covers a wide range of activities such as management of customer services, portfolio management, credit syndication, acceptance credit, counselling, insurance, etc. † Merchant Banks are popularly known as â€Å"issuing and accepting houses†. They offer a package of financial services. Unlike in the past, their activities are now primarily non-fund based. One of the basic requirements of merchant banks is highly professional staff with skills and worldwide contacts.The basic function of merchant banks is marketing corporate and other securities, that is guaranteeing sales and distribution of securities. All the aspects- origination, underwriting and distribution of the sale of industrial securities are handled by them. They are experts and good judges of the type, timing and terms of issues and make them acceptable to investors under prevailing preferences and market conditions, and at the sa me time afford the borrowing company, flexibility and freedom that it needs to meet possible future contingencies.They guarantee the success of issues by underwriting them. They also provide all the services related to receiving applications, allotment, collecting money, sending share certificates and so on. The merchant banker normally does not assume all the risk himself while underwriting the issue. Merchant banks offer services also to investors. The range of activities offered by merchant banks is much wider than sponsoring public issues of industrial securities. They offer project finance, syndication of credit, corporate advisory services, mutual fund investments, investment management etc.Services of Merchant Banks †¢ Project Counselling: Project counselling includes preparation of project reports, deciding upon the financing pattern to finance the cost of the project and appraising the project report with the financial institutions or banks. It also includes filling up of application forms with relevant information for obtaining funds from financial institutions and obtaining government approval. †¢ Issue Management: Management of issue involves marketing of corporate securities viz. equity shares, preference shares and debentures or bonds by offering them to public.Merchant banks act as an intermediary whose main job is to transfer capital from those who own it to those who need it. After taking action as per SEBI guidelines, the merchant banker arranges a meeting with company representatives and advertising agents to finalise arrangements relating to date of opening and closing of issue, registration of prospectus, launching publicity campaign and fixing date of board meeting to approve and sign prospectus and pass the necessary resolutions. Pricing of issues is done by the companies in consultant with the merchant bankers. †¢ Underwriting of Public Issue:Underwriting is a guarantee given by the underwriter that in the event of under subscription, the amount underwritten would be subscribed by him. Banks/Merchant banking subsidiaries cannot underwrite more than 15% of any issue. †¢ Managers, Consultants or Advisers to the Issue: The managers to the issue assist in the drafting of prospectus, application forms and completion of formalities under the Companies Act, appointment of Registrar for dealing with share applications and transfer and listing of shares of the company on the stock exchange. Companies can appoint one or more agencies as managers to the issue. Portfolio Management: Portfolio refers to investment in different kinds of securities such as shares, debentures or bonds issued by different companies and government securities. Portfolio management refers to maintaining proper combinations of securities in a manner that they give maximum return with minimum risk. †¢ Advisory Service Relating to Mergers and Takeovers: A merger is a combination of two companies into a single company where one s urvives and other loses its corporate existence. A takeover is the purchase by one company acquiring controlling interest in the share capital of another existing company.Merchant bankers are the middlemen in setting negotiation between the two companies. †¢ Off Shore Finance: The merchant bankers help their clients in the following areas involving foreign currency. (a) Long term foreign currency loans (b) Joint Ventures abroad (c) Financing exports and imports (d) Foreign collaboration arrangements †¢ Non-resident Investment: The services of merchant banker includes investment advisory services to NRI in terms of identification of investment opportunities, selection of securities, investment management, and operational services like purchase and sale of securities. †¢ Loan Syndication:Loan syndication refers to assistance rendered by merchant bankers to get mainly term loans for projects. Such loans may be obtained from a single development finance institution or a s yndicate or consortium. Merchant bankers help corporate clients to raise syndicated loans from banks or financial institutions. †¢ Corporate Counselling: Corporate counselling covers the entire field of merchant banking activities viz. project counselling, capital restructuring, public issue management, loan syndication, working capital, fixed deposit, lease financing acceptance credit, etc. bibliography a manual on merchant banking by JC Verma

A Book Analysis - Tom Standages A History of the World in 6 Glasses Free Essay Example, 1500 words

The international trading of wine from Greece and other proximate areas that have vineyards and wineries initiated the beginnings of long-voyages and trading, as well as the initiation of scientific revolutions such as the invention of distillation, most of which continued to flourish well into the ages of explorations, colonization, and unfortunately even during the numerous wars and revolutions that resulted from these ventures. The distillation process gradually helped the wine to evolve into other products such as distilled spirits like brandy, as well as the invention of other alcoholic products sourced from sugar- or carbohydrate-rich foods such as sugarcane and corn, mostly grown in the New World and other parts of Africa. However, the rise in the alcohol market allowed the proliferation of slavery in many regions of the world and exploitation of vast tracts of land and its people, the taxation of commodities previously deemed as waste, and in the New World, particularly in w hat is now known as the United States the uprising of the colonizers against England. Due to such circumstances, wine and spirits became symbols of oppression as these helped to shape the modern world by helping the inhabitants of the Old World to establish themselves as rulers of the New World. Similar to the circumstances surrounding the creation of distilled spirits, a relatively newer drink invented in the U. S.We will write a custom essay sample on A Book Analysis - Tom Standages A History of the World in 6 Glasses or any topic specifically for you Only $17.96 $11.86/page