Marketing The New Car Brand Free Essays

In undifferentiated strategy, it is assumed that the market is one great homogeneous unit, with no significant differences between individuals thin that market. 4. 3) Customized approach: Companies overlook customized approach to make brand profitable in market as it is strategy which is adopt to develop for each customer as opposed to each segment. We will write a custom essay sample on Marketing The New Car Brand or any similar topic only for you Order Now This approach is dominant in market. This approach can make brand different from other car brands by giving the different requirements in assembly line. Undifferentiated marketing would be the best for England SEC. According to Blithe, undifferentiated marketing is about using a ‘scatter gun’ approach (2012: 85). In the future plans we will introduce customized approach as well. By adopting this approach we can make our brand different from other car brands by giving the different requirements in assembly line for the manufacture of automobiles. The cars will not be class-leaders, and European models will offer higher standards, but the launch England SEC is at least inoffensive and should offer lots of room. 5. Positioning: Kettle (1997) says that ‘Positioning is the act of designing the company’s offering and target customer’s minds. Positioning is not what you do to a product; it is what you do to the mind of a prospect (Rise and Trout, 1972). To make our brand compete in racket we have to focus on some positioning strategies. Fig (AAA) According to market survey Renault has positioned their brand up, that creates a vacuum and Geol. can hold that position. As AKA, Haunted, fiat and Citroen will be the main competitors for our England SEC, so in order to penetrate in the market we have to introduce more competitive strategies. Along with providing low price and longest warranty, Geol. has to pay more focus on customer services. Therefore geol. is providing breakdown cover for three years and as geol. exclusive Geol. will provide customers with low premium or can also offer them change in their premium n heavy months so that customer will attract to buy the car and can offer discount if they make the payment in full as one off payment. This will help Geol. to stand out than other competitors and will help to get more sales and profit. 6. Marketing Mix: The term â€Å"marketing mix† was first coined by Neil Borden, the president of American association in 1953. It is a mixture of several ideas and plans brought forward to promote a particular product and brand. The elements of marketing mix are often called the four As of marketing which are: product price promotion place Fig (AAA) This four up’s concept was used in old era when choice was limited with no extra services. But now in this changing consumer marketing services with product are essential which gives rise to 5th P I. E. People. Some commentators added two more As which are physical evidence and processes. For our Geol. England SEC, we have used these 7 As as follow: 6. 1) Product: Product quality and reliability should be in our mind if we are going to capture consumer market. The specification of England SEC is 0-MPH: 12. Sec; Top speed: 1 MPH; Economy: 43. Amps; ICC: 181 g/km; Kerr weight: keg; Engine type: 4 heel drive; Power: EBPP at ramp; Torque: 127 lb. Ft. At ramp; Gearbox: 5- SSP manual. Rupee’s automotive fit-and-finish departments certainly don’t have anything to fear from this car Our brand Geol. England SEC provides convenience and comfort, reliable performance and long warranty of 7 years to compete main competitor Aka because Ski’s unique selling point is its 7-year warranty (business case studies, 2012). The SEC isn’t going to threaten Rupee’s class-leading family cars – but from EYE. O for a full-sized family car, no one will expect it to. 6. 2) price: Sound pricing decisions are crucial to a successful business and should be considered at both long-term strategic and short-term tactical levels. We priced our brand similar to competitor and Geol. SEC will be EYE that is cheap and affordable for the purchase of a new car. Geol. will be launched as an entry level, for money’. Geol. will providing easy finances and also provide discount to the customers who will pay the balance off in one payment. . 3) Promotion: As people in UK are not aware of our brand Geol., so we will spend a huge amount to promote by participation in automobile exhibitions, advertising on internet, swappers, magazines radio, television and by personal selling leaflets. 6. 4) Place: The place aspect of marketing mix deals with the distribution channel for products and services. In order to control the distribution channel, Geol. at the beginning will generate more automotive dealers so that the car display shops go high and people can easily approach it. We will increase the numbers of directly operated stores in order to get an access to the local markets and will also create a website in order to reserve a place in the e-commerce world. 6. 5) People: This element of marketing mix covers the front line sales and customer service staff ho will have a direct impact on how your product is perceived. Galleys distributors will not only make their staff well-trained and knowledgeable about the product, but also there will be the right kind of people for the Job. Geol. will consider customer service as top preference. . 6) Physical Evidence: Geol. will provide as much evidence of the quality as possible. To make customer relax and confident Geol. will also offer test drive service, so the customer can have some practical evidence before buying. Geol. will ask for feedback from customers so we can develop to attract new customers. 6. 7) Processes: The process part of the mix is about being ‘easy to do business with’. Geol. will provide customer with customer help line number which will be easily accessible to the right department to solve their problem. Geol. will also design its website with update technology, which will show the availably or non-availability of the product in particular shops. These advances processes will help Geol. to attract customers because of its ‘easy-to approach’ method. 7. SOOT ANALYSIS: weaknesses, opportunities and threats involved in a project or in business venture. The soot analysis for Geol. SEC is briefly described in table below: Table (AAA) 8. Recommendations: We should go for media advertising to improve brand image by spreading company policies and innovations to our consumer. Advertisement of Geol. through different channel like web, print media etc. Is also necessary. As customer today has become more cynical, time constrained and demanding therefore to deliver real customer satisfaction, our priority at launch is to have a trained representative network. Mostly customers have concerns about customer services, to get market edge we have to make and consistently keep our customer service as good as customer needs and acquirement. Geol. can target new customer through logical appraisal and feedback. We should have to customize our product according to customer desire like fancy styled alloy rims for young customers, diesel engine for customers doing high motorway mileage etc. Geol. should do engine modifications to attract wide range of customers. Geol. should not be market orientated only for capturing the consumer technology and have to do some innovation regarding car specifications like car interior/exterior design in order to compete with other car manufacturers and to capture consumer intentions. We have to widen our range as quickly as possible, probably at least a new model range every year for the next few years. 9. Summary of Days article: the Days article says that business performance depends on the advance skill in understanding the customer which has being generally approved by the marketing researcher who says the impact is high in market orientation on business performance. It is almost axiomatic that through on-going monitoring of customers, their needs, and market conditions, firms adapt to develop and deliver the products and services that are valued by customers by using total quality management (TTS). This behavior, termed market orientation (MO), is now central to marketing thought and practice as a key predictor of firm performance. However, the construct continues to receive critical, largely adverse, commentary from some scholars, Hammer and Parallax (1994) argued that an MO leaves the organization open to the tyranny of the server market in which managers see the world only through their current customers’ eyes and develop TTS which does not give positive output. Brother, Hilbert, and Pit (1999) suggested that being market oriented detracts from innovation. The common theme among the criticisms is that businesses pay a penalty or being market oriented. Slater and Nerve (1995) also argued that MO is â€Å"inherently entrepreneurial† because a market-oriented firm is able to anticipate and respond to the latent and emerging needs of customers. Mentor, and ?isomer (2002) found that MO mediated the impact of entrepreneurial proclivity on business performance. Although they advance the literature, these studies do not explicitly acknowledge or measure the proactive dimension of MO and thereby fail to respond adequately to the charge that MO is overly responsive However, significant gaps remain in responding to the critics. First, scholars present an overly positive view of responsive and proactive MO they neglect the potential costs associated with each dimension of MO that may diminish firm performance. The responsive and proactive market orientations may influence overall new product program performance through their impacts on incremental and radical innovations, respectively. This suggests that project teams working on product improvements may practice responsive MO, while those working on radical innovations practice proactive market orientation. 0. Summary of â€Å"the new consumer† article: See appendix, page 12. 11. Critical appraisal of recommendations in relation to Days article : In our recommendations we are quite agreed with Days initial statement that customers are very important and the more you know what customers want, the more you are going to do business profitably. And we also recommended that business should relate and regulate its capabilities according to customers demand. But we are not agreed with Days statement of being totally market oriented using TTS. Here we will oriented because it get distracted from innovation and that’s why we recommended that Geol. should not be market orientated only for capturing the consumer market UT also should have a look over future aspects and innovations. 12. Relating critical appraisal to the new consumer: As relating new consumer to the recommendation made on the days article, we analyses baker also said that the consumer should be given be given importance as the business environment has been changed now. He said the key challenges facing consumer marketers have been thrown up by the tectonic change that has impacted the macro-marketing environment. In the shift from a production-driven to a consumption-led economy, conventional approaches to consumer marketing are not succeeding in enabling organizations to master the dynamic complexity of the new market place. These key challenges can be summarized as the need to: Address the concern of brand owners and retailers. Embrace the new consumer. Help organizations develop real consumer responsiveness. Lift marketing out of its crisis. How to cite Marketing The New Car Brand, Papers

Professional Responsibility and Ethics in Accounting

Question: Discuss about the Professional Responsibility and Ethics in Accounting. Answer: Introduction Code of conducts are principles that all employees and professionals in an organization are expected to follow. The principles guide the professionals in decision making and how to behave in the work place. The code of ethics have a significant impact on your work practices , however, the impact in an organization depends on how the company uses it. All companies are involved in an ethical obligation continually talking about laws, rules, rights and duties, and the like facing these concepts which generates its ethical code which becomes the identity of the company or organization, which will be valued by society in general, it is important this trial because a company must be accepted socially to succeed (Accounting ethics, 2006).No individual or organization is beyond the ethical judgment in each decision must always be taken into account ethics, regardless of the type of goal or trading company. You can not spend the interests of the company above the interests moral and / or ethi cal society. How ethics and behaviour affect individual in their real work According to the respondents interviewed in this research, they are aware that ethics and behavior have a real effect on their work. The set of rules of conduct given by the Code of Ethics that regulate the activity of Public Accountant, is minimal guidance material or performance criteria that adopts the accounting profession on their daily actions in the public in general; further it provides that these principles are equally valid for all Chartered Public Accountants either working in the public, private sector or in teaching (Code of ethics, 2010). All Public Accountant should be aware that should always be adhered to the ethical principles of integrity, objectivity, independence, Reliability, Responsibility, Enforcement Standards and Laws, Competition, Professional Development, respect and collaboration with colleagues. All the accountants interviewed acknowledge the importance of ethics in the following areas. The Code of Professional Ethics, not only serves as a guide to mora l action of each Public Accountant, but also by him, the Accounting Profession declares its firm intention to comply with society and serve with loyalty, honesty and diligence (Duska Duska, 2003).The Certified Public Accountant must always keep in mind the following principles that should govern their professional and personal drive permanently: Integrity.- must be honest and forthright in carrying out their professional work. Objectivity.- must be fair and not let prejudice or influence other people override their objectivity. Professional Competence and Sufficiency.- Care must possess knowledge, skill and experience to be able to apply reasonable care and diligence, you should seek advice or assistance when required to ensure that the professional services provided are executed satisfactorily and must refuse to run when not have the necessary qualifications for it. Character Confidencial.- shall respect the confidentiality of the information obtained and not disclose it without authorization unless there is a legal or professional obligation that requires them. Behavior Profesional.- must act consistently taking care of the good reputation of the profession and refrain from any behavior that could discredit a person or to the profession as a whole. Standards techniques.- out should bring their professional services in accordance with relevant technical and professional standards. You will be obliged to run with care and skill requirements of the client or employer as they are compatible with the requirements of integrity, independence and objectivity, and shall meet the standards of accounting and auditing established internationally. Awareness to the code of conduct and ethics From the ten professional accountants that were interviewed, nine out of ten of the respondents were aware of the professional bodys code of conduct. It is clear from the research that most of the accountants are aware of their professional bodys code of conduct (Frye Pearson, 2008). The ethics of every work is determined by the treatment along with the relationship that every professional relate to particular cases that may be filed in the personal , specialized or social framework in their association with the people who constantly tries . Professional Ethics is ethics in itself used for the exercise of a job and also recognizes the principles of ethical activity of all its associates , in the strange circumstances by which their professional responsibilities put them (Jeffrey, 2005). Individuals who exercise a profession in providing their knowledge as well as skills in the service of people , have duties and tasks to all areas as well as individuals who rely on their work , t herefore it is important for these professionals acceptance as well as compliance Ethics guidelines governing the relationship with the clients , employers , staff , the State as well as the general public ; so it is vital that there is a code that contains the general rules relevant to daily practice of profession conduct . Possible consequences if they breach the code of conduct According to the research and answers provided by the respondents, most severe consequences include being struck of from the profession and being deregistered by the accountants body. Hence you lose your work permit. Other consequences include law suits instituted by the clients that have been affected by the actions of the accountant when they breach the code of conduct (Jeffrey, 2008). Professional body and how it polices its code The accountants body has different channels in which the matters relating to the issues and unprofessional conduct by its members can be communicated. The body has a committee that looks into the cases brought by the complainants. This is one of the ways that the accountacy body polices its code. In this Code it provides that its compliance is mandatory for all Chartered Public Accountants who are enrolled in any Departmental School and pursue the profession both individually and associated and dependent and independent including performance teaching. It provides that Members of the Order must adapt their professional conduct to the standards in the Code. Also standard behavior that should have with their colleagues which should be one of respect and collaboration (Jeffrey, 2008). It provides that all actions must be with honesty, good faith, maintaining the honor, dignity and professional capacity, assuming their responsibility for their reports or opinions that are endorsed with his signature. It states that the public accountant has an obligation to professional secrecy and may not benefit from the facts of which it is aware. In performing its function must maintain its independent judgment, act with objectivity and impartiality. The practitioner defends the good faith, and this presumes that a public act is according to law and decency, and that is why the government defined the code of ethics of definition Public Accountant profile lord and master is high human quality that is the man who gives his word and holds it so rain or shine ... so shake the earth or its inhabitants. The Act 43 of 1990 the Code of Professional Ethics of Certified Public Accountant was enacted, this law includes the set of permanent rules on ethics that must adhere Public Accountan ts registered with the Central Board of Accountants in the exercise of the functions of the Public Accounts established by the laws and regulations. What is the need of professional accounting in planning, analysis and evaluation of the organization? Public Accounting is a profession that aims to satisfy the needs of the organization, by measuring, evaluation, planning, analysis and interpretation of financial information from companies or individuals and the preparation of reports on the financial situation, on which decisions of entrepreneurs, investors, creditors, and other interested parties on the future status of such economic entities are based. This certification will be considered an integral part of it (Jeffrey, 2013). Your reflections on the similarities and differences in expectations Similarities Both the professional body and the accountants expect the code of ethics to be applied in their professional work. Accountants have are of the view that the code of ethics are very important in their work because it enables thaem to know how to relate with their clientele. On the other hand, The professional body mandated to oversee and formulate the ethics, is also of the view that the code of ethics are important to reduce any conflict that may arise during work. Differences The difference is brought in by the fact that the professional bodies expect that all the code of conducts should be followed. However, according to the accountants interviewed, not all code of ethics are followed to the letter, because some of them are not very practical to be applied. My reflections on this is that the professional body and the members( accountants) should amicably resolve any grey areas in the code of ethics and also be more inclusive when formulating these codes. Your reflections on what this means for you The accountants need the code of ethics when doing their work. However, the rules should be made in consultation with the accountant because they are the ones that are affected by the code of ethics. The code of ethics are important for regulating the profession and reducing any professional misconduct by the accountants The exercise of public accounting involves a social function especially through public faith which is given the benefit of order and security in economic relations between the state and individuals or those with each other. The Public Accountant in the development of their professional activity must be used in each case analysis methods and more appropriate evaluation to the situation presented, within the guidelines given by the profession and may also resort to specialists from different disciplines to Public Accounting and the use of all elements that science and technology are at your disposal. Basic principles of professional ethics Code of ethics of public accountant The set of rules of conduct given by the Code of Ethics that regulate the activity of Public Accountant, is the minimal guidance material or performance criteria that adopts the accounting profession against their daily actions in the public in general; further it provides that these principles are equally valid for all Chartered Public Accountants either working in the public, private sector or in teaching (Pohl Pohl, 2002). The Code of Professional Ethics, not only serves as a guide to moral action of each Public Accountant, but also by him, the Accounting Profession declares its firm intention to comply with society and serve with loyalty, honesty and diligence. The Certified Public Accountant must always keep in mind the following principles that should govern their professional and personal drive permanently: Upon their respective enrollment in any of the schools, the practitioner agrees to comply with the provisions of the Statutes and other rules and regulations issued by t he Federation of Public Accountants of Peru or the Institute of Chartered Accountants to which it belongs, and also it undertakes to respect and strictly observe all set out in the Code of Ethics. In this Code it provides that its compliance and compliance is mandatory for all Chartered Public Accountants who are enrolled in any Departmental School and pursue the profession both individually and associated and dependent and independent including performance teaching. It provides that Members of the Order must adapt their professional conduct to the standards in the Code. It provides that all actions must be with honesty, good faith, maintaining the honor, dignity and professional capacity, assuming their responsibility for their reports or opinions that are endorsed with his signature. It states that the public accountant has an obligation to professional secrecy and may not benefit from the facts of which it is aware. In performing its function must maintain its independent judgme nt, act with objectivity and impartiality (Professional ethics in accounting and finance, 2010). You should refrain from giving an opinion or negative comments about the performance or suitability of any other colleague. It states that the Certified Public Accountant, who exercises the profession individually or collectively, will offer its services in a serious and measured, without abuse of advertising, without damaging her personal and professional dignity of their colleagues.Notes that the Public Accountant whatever the field in which it operates is responsible for their actions and therefore should always drive with caution and high standard. The Chartered Public Accountant who holds the University Teaching has an obligation to transmit the updated knowledge of the profession and the rules of conduct provided by the Code of Ethics to students, and gird all academic and administrative acts to ethical principles and moral virtues, without realizing their condition Teacher for economic or other benefits dishonestly, thereby denting the dignity of all the accounting profession and his other colleagues Teachers. Failure to comply with the provisions in the Code of Ethics by any Chartered Public Accountant, constitutes violation of the Code of Ethics and deserves his punishment according to the seriousness of the offense. The practitioner defends the good faith, and this presumes that a public act is according to law and decency, and that is why the government defined the code of ethics of definition Public Accountant profile lord and master is high human quality that is the man who gives his word and holds it so rain or shine . In performing its function must maintain its independent judgment, act with objectivity and impartiality. You should refrain from giving an opinion or negative comments about the performance or suitability of any other colleague. Code of professional ethics Professional quality of work. In providing any services expected of a true professional Public Accountant job so you always have in mind the provisions of the profession regulations that are applicable to specific work that this play. Professional preparation and quality. As a requirement for the Certified Public Accountant agrees to provide services, you must have the necessary technical training and ability to perform professional activities successfully. The exercise of public accounting involves a social function especially through public faith which is given the benefit of order and security in economic relations between the state and individuals or those with each other (Templar, 2011). The practitioner shall not take advantage of situations that may be impaired who have hired their services. Agreeing to the economic compensation to be received by the public accountant must always have a presence that remuneration for their services is not the only objective or the reason for t he exercise of their profession. The practitioner take care of their relationships with their partners, with colleagues and institutions that group, seeking the dignity of the profession but never undermine exalted, acting with team spirit. Dignifying based professional image quality to reach who sponsors their services and society in general an image of professional and personal quality (Templar, 2011). All Public Accountant who somehow conveys his knowledge will aim to maintain the highest professional and behavioral standards and contribute to the development and dissemination of the expertise of the profession. Conclusion The practitioner has an obligation to professional secrecy and not disclose for any reason the facts, data or circumstances of which it is aware in the exercise of his profession, except the information that force the laws .Public Accountant can benefit by using information obtained in the exercise of the profession, nor may communicate such information to others who take advantage of it. The CPA may consult or exchange views with colleagues on matters of opinion or doctrine, but should never provide data identifying individuals or businesses concerned, unless it is with consent of the parties concerned. The practitioner who is a member of other institutions will refrain from directly or indirectly involved in acts that are detrimental to the profession of Public Accountant. The practitioner acting both independent function as a dependent, assume professional responsibility in relation to their reports, opinions, affidavits etc., which are endorsed with his signature. No Public Accountant, whatever the cause, may retain books and accounting records of their customers, because it is a misappropriation. References Accounting ethics. (2006). London [u.a.]. Code of ethics. (2010). Canberra, A.C.T. Duska, R. Duska, B. (2003).Accounting ethics. Malden, MA: Blackwell Pub. Frye, C. Pearson, W. (2008).Microsoft Office Accounting Professional 2007 step by step. Redmond, Wash.: Microsoft Press. Jeffrey, C. (2005).Research on professional responsibility and ethics in accounting. Amsterdam: Elsevier JAI. Jeffrey, C. (2008).Research on professional responsibility and ethics in accounting. Bingley: Elsevier JAI. Jeffrey, C. (2013).Research on professional responsibility and ethics in accounting. Bingley, U.K.: Emerald. Mintz, S. (1997).Cases in accounting ethics professionalism. New York: McGraw-Hill Companies. Pohl, A. Pohl, A. (2002).Accounting. Harlow: Pearson Education. Professional ethics in accounting and finance. (2010). London. Templar, R. (2011).The rules of management. Harlow, England: Prentice Hall Business/Pearson.

A Timeline of the Russian Revolution From 1914 to 1916

A Timeline of the Russian Revolution From 1914 to 1916 In 1914, the First World War erupted across Europe. At one point, in the early days of this process, the Russian Tsar was faced with a decision: mobilize the army and make war almost inevitable, or stand down and lose massive face. He was told by some advisors that to turn away and not fight would undermine and destroy his throne, and by others that to fight would destroy him as the Russian army failed. He seemed to have few correct choices, and he went into war. Both advisors might have been right. His empire would last until 1917 as a result. 1914 June - July: General Strikes in St. Petersburg. July 19th: Germany declares war on Russia, causing a brief sense of patriotic union amongst the Russian nation and a downturn in striking. July 30th: The All Russian Zemstvo Union for the Relief of Sick and Wounded Soldiers is created with Lvov as president. August - November: Russia suffers heavy defeats and a large shortage of supplies, including food and munitions. August 18th: St. Petersburg is renamed Petrograd as Germanic names are changed to sound more Russia, and hence more patriotic. November 5th: Bolshevik members of the Duma are arrested; they are later tried and exiled to Siberia. 1915 February 19: Great Britain and France accept Russias claims to Istanbul and other Turkish lands. June 5th: Strikers shot at in Kostrom; casualties. July 9th: The Great Retreat begins, as Russian forces pull back into Russia. August 9th: The Dumas bourgeois parties form the Progressive bloc to push for better government and reform; includes the Kadets, Octobrist groups and Nationalists. Auguest 10th: Strikers shot at in Ivnovo-Voznesà ©nsk; casualties. August 17-19th: Strikers in Petrograd protest at the deaths in Ivnovo-Voznesà ©nsk. August 23rd: Reacting to war failures and a hostile Duma, the Tsar takes over as Commander-in-Chief of the armed forces, prorogues the Duma and moves to military headquarters at Mogilev. Central government begins to seize up. By associating the army, and its failures, with him personally, and by moving away from the centre of government, he dooms himself. He absolutely has to win, but doesnt. 1917 January - December: Despite successes in the Brusilov offensive, the Russian war effort is still characterised by shortages, poor command, death and desertion. Away from the front, the conflict causes starvation, inflation and a torrent of refugees. Both soldiers and civilians blame the incompetence of the Tsar and his government. February 6: Duma reconvened. February 29th: After a month of strikes at the Putilov Factory, the government conscripts the workers and takes charge of production. Protest strikes follow. June 20: Duma prorogued. October: Troops from 181st Regiment help striking Russkii Renault workers fight against the Police. November 1st: Miliukov gives his Is this stupidity or treason? speech in reconvened Duma. December 17/18th: Rasputin is killed by Prince Yusupov; he has been causing chaos in the government and blackened the name of the royal family. December 30th: The Tsar is warned that his army wont support him against a revolution.

The legitimate economy Essay Example

The legitimate economy Essay Example The legitimate economy Essay The legitimate economy Essay A huge reason for trying to regulate the financial market is to stop financial crime. This is caused by the human nature of greed. However it is aided by three other factors, weak governments, poor national financial regulation and corruption. One of the biggest causes has become more reported since the disaster of 9/11 which is terrorism. The terrorist need to be funded and are doe largely through illegal gains. The effect of financial crime is quite severe, it can diminish the reputation of a countries financial sector desecrating its economy. National security can be threatened with an increase in criminals using the market for illegal purposes. Interest rates can be unstable due to the high integration of capital markets. Finally it reduces tax revenues through underground economies, competes unfairly with legitimate business organisations, damages financial markets and disrupts economic development. The FSA are concerned with 3 main types of financial crime, money laundering, fraud and dishonesty, and market misconduct such as insider dealing. One of the biggest financial crime problems is money laundering, this is defined as: The methods criminals use to hide and disguise the money they make from their crimes9 In other words it is the way that criminals make it incredibly hard to trace their monies origins back to anything illegal. This process can be done in small or large ways and has been made easier by the development of technology and its use in the global financial market. In 1920 the American Mafia found that they could do this in large amounts through starting legitimate businesses such as launderettes or slot machine companies. In todays society it is possible to transfer huge amounts of money in seconds all around the world through many different accounts and transactions. Each transaction makes it harder to trace the origins of the money. 10 It is currently estimated that the amount of money that is laundered world-wide makes up 2. 5% of the worlds gross domestic product (GDP). This constitutes to between an amazing 590 billion dollars to 1. 5 trillion. The lower figure would be the equivalent to Spains economic output per year. The Financial Action Task Force (FATF) reported these figures. The process of money laundering comprises of three different sections. The first is placement, the second layering and lastly integration. Placement was discussed in the case of Crown v Duff11. The placement is the break up of large sums of money into smaller amounts. Layering is where the criminal engages in a series of transactions to disguise the money from its source. Integration is where the money has re-entered the legitimate economy. Obviously the easier it is to launder money the more that will be laundered. The FATF was set up as an inter-governmental organisation, which aims to develop and promote policies to combat money laundering. Currently the FATF has 31 members. Money laundering was to be tackled by many different institutions in the UK. The police would obviously be close to the acts of criminals, which would include money laundering. However the police only deal with minor offences, major cases are passed on to specialised agencies such as MI5 and MI6. The Serious Fraud Office (SFO) is an independent governmental institution, which prosecutes for serious or complex fraud. The SFO was established in 1988 after trials, just after the FSA 1986, however it was created by the Criminal Justice Act 1987 (CJA). The flaw with the SFO is that it only investigates fraud of over 1 million pounds and so can be avoided if the money laundered is anything below this limit. The National Criminal Service (NCIS) works on behalf of the police and other law enforcers and is one of the special organisations mentioned above. The Economic Crime Branch was developed as a specialist division of NCIS primarily dealing with economic offences, such as money laundering. This was created after the FSMA 2000 but obviously not a bi-product of it. However the organisation would work closely with the FSA, this was greatly received news as John Abbott, the director of NCIS stated: This important agreement reflects the increasing focus on anti-monetary laundering activities that NCIS has long supported. 12 Since the FSMA the FSA have produced a Handbook of Rules and Guidance. This Handbook is like a code of conduct that all financial business organisations must follow or risk losing their licence of trade issued by the FSA itself. In respect to money laundering, all business organisations and individuals that carry out a regulated activity must be assessed to be competent, honest and is financially sound. Once authorised, the FSA supervise the financial businesses to make sure, among other things, that suspicious transactions are reported and that precautionary procedures are implemented effectively. All of the procedures are highlighted to the firms in the newly issued Code of Market Conduct and those firms that are found not to be following the code can have a financial penalty given to them or could even lose their authorisation of trade. Further powers are given to the FSA in respect to criminal activities through the Criminal Justice Act 1993 and the Money Laundering Regulations 1993. The FSA have powers of enforcement including the power to interview and seize documents. The FSA decide which cases to investigate through a policy of risk taking, they take in to consideration the impact the cases have on the regulatory objectives set be FSMA and the general principles of good regulation. However, the FSA has to consider the Human Rights Act 1998, stemmed from the European Convention on Human Rights, to ensure that they are not acting illegally. The SIB was given both legislative and administrative powers and supervised the numerous SROs and Recognised Professional Bodies (RPBs) within the financial market. The SIB gave licenses to the business organisations to trade in the UK financial economy but it was the RPBs who regulated the policies of the professional organisations such as the Law Society and Lawyers. The SIB was designed to combine self-regulation and statutory regulation covering a wider scope than had been seen previously. The FSA 1986 also supported for standard and administrative criminal sanctions, affording civil remedies to investors who suffered a loss as a result of contravention of its provisions, or those of sub-ordinate rules and regulations or the corresponding provisions of SROs. The CJA 1993 and the MLR 1993 aided the SIB in prosecuting those who knowledgeably or negligently aided in the process of money laundering. The labour party decided, as well as other reasons, that the process of regulation was expensive as well as the fact that there had been at least two major scandals in the 1990s which was evidence enough to suggest that the system was flawed. The FSA was created with its statutory objectives and its immense powers to regulate more of the financial market than ever before, making some people wary of making the institution too bureaucratic or unaccountable. The FSMA gave the FSA many of these powers creating the legal framework to support such a large organisation. It ensured that not only was the FSA the body to authorise and supervise but also to prosecute. The FSA would be able to work closely with other organisations such as the Serious Fraud Office. The FSA claimed that, in relation to money laundering: We will be doing more work across the whole financial sector to assess the effectiveness of firms money laundering controls and customer identification procedures. 13 However, statute helped the SIB to do exactly the same thing, the difference being that the FSA has complete control over the process including request or suggestions of new legislation to aid it in the fight against money laundering. Phillip Thorpe, MD of the FSA stated: the new act will for the first time give us new powers to instigate criminal prosecutions and to fine firms where their arrangements fail to come up to standard14 In conclusion, the SIB was on the right track in relation to money laundering; it identified where the problems could / would be and tried to enforce a Code of Conduct to ensure that financial organisations were operating at a standard that ensured that money laundering would be very difficult. However, the SIB lacked the powers necessary and werent able to supervise all parts of the financial services. There were many pieces of legislation made to aid the SIB such as the CJA and the MLR but neither allowed the SIB to enforce directly without going through the SROs. The FSA have been given more scope and enforcement as well as prosecution powers than the SIB ever had. The FSA is able to work with other organisations to ensure that they can meet objectives that the SIB lacked. However, I believe that the FSA could not be in such a powerful position without the aid of the SIB. The reason for this is because the SIB created a hierarchy that allowed self-regulation and had the policies to deal with money laundering but was unable to put itself into practice because of the lack of power and direct communication with the financial market. The FSA has been able to take the powers from the HM Treasury and the SIB who allowed the SROs to be abolished. The SROs wouldnt have been able to prepare the financial market in such a way as if the FSA came into force in 1986. To summarise, I think that the FSA 1986 or the SIB was a preparatory stepping stone in the evolution of financial services regulation and the FSA wouldnt be in the position it is now to deal with financial crime if this evolution had not occurred. However, the effectiveness of the FSA is yet to be determined and ultimately only time will show evidence of success or failure.

Marketing Management Essay Example | Topics and Well Written Essays - 1250 words - 2

Marketing Management - Essay Example A wide range of food programs and food festivals are organized in Singapore which witnesses a strong level of participation from a wide array of expert level international chefs from various corners of the world. This automatically makes the market of Singapore a birth place of various kinds of innovative food based delicacies as well as bakery products. Discussing on the lines of the bakery products, it can be said that the market of Singapore can be divided on the lines of bread based offerings, cakes, biscuits as well as breakfast cereals (Euromonitor.com, 2011). However, it also has to be said that the Singapore has a large number of Muslim population, which forms the Halal market in the region. It is highly interesting to state that the South East Asia, which includes the region of Singapore, is homes to around 250 million Halal oriented consumers. Talking about the valuation of the south east Asia market formed by the 250 million Halal consumers, it can be highlighted that the market stands at an astounding 93,000 million USD (Daganhalal.com, n.d.). It is also very important to highlight the fact that the region of Singapore, which falls under the category of South East Asia has a tremendous and growing potential for becoming one of the leading Halal based food markets, mainly because of the fact of the region being a major transhipping centre. Also, it has to be said that the Muslim presence in the Singapore region comprises to over 60% of the entire population of Muslim located all over the world (Min, Global Halal Food Industry, p. 7). Source: Global Halal Food Industry. Hence, it can be said that there exists a unique opportunity in the bakery market to cater to the inward as well as outward growth that is emerging from the Halal market of Singapore. Market Trends Discussing the trends that are currently evolving in the market of Singapore, it can be said that the trends are similar to that of the bakery market of south East Asia. It is to be mentione d that the bakery industry existing in these markets is highly dependent on the series of factors. The factors are a mixture of macroeconomic as well as lifestyle trends like strong growth of the regional economy, growing living standards of the masses, influence of western oriented lifestyle as well as busy lives of the masses (PRWeb.com, 2013). The factor of shortage of time in the hands of the masses in regards to preparation of traditional meals is playing a tremendous catalytic role in spreading the growth of the bakery industry in the market of Singapore. The bread and bakery industry of the region has a highly diversified consumer portfolio. Talking in regards to the future market trends for this particular sector in the Singapore region, it can be said that the manufacturers and retailers will try to attain a growth in the business by leveraging on the highly diversified consumers base. In order to develop a competitive edge in the business as well as for better positioning of their products, the manufacturers and retailers of the bread industry will try to introduce innovative products which will be segmented and targeted specifically to consumers on the basis of their age group. Market Growth While discussing the factors of market growth, it has to be brought in to focus that the bakery market of Singapore grew at a rate of 7.9 % on a compound annual basis between the 5 year period of 2004 to 2009 (Datamonitor.com, 2012). During this period the bread and

Aboriginal studies Research Paper Example | Topics and Well Written Essays - 1750 words

Aboriginal studies - Research Paper Example Natives of the South -- southeast and southwest -- lived somewhat similar and different social environments and had their own unique means of using, controlling, and changing their inhabitation. Bonds of social set up were so strong that the Southern natives did not loose hold of their social and cultural identity while adapting to the ways of modern agriculture. In the matter of practicing refined ways of cultivation, the natives of southeast followed comparatively advanced methods of farming than their counterparts. The theme of religion in its purest form of following rituals and in the wider perspective of believing in the existence of God was pervasive in all functions of life. There were cultural differences as well as similarities as based on the geographical distribution of land that culminated in their choice of practicing different professions other than farming but natives of South believed in the oneness of all human beings on the spiritual grounds. Natives had a sharp se nse of the natural cycle and practiced different modes of livelihood to save themselves from the vagaries of nature. Before comparing the environmental and social organization of the natives of southeast and southwest, it is logical to know the physical boundaries that divided them. The Southeast culture area is the semi-tropical region that extends from the Atlantic Ocean Westward to way ahead of Trinity River in today’s Texas, and from the Gulf of Mexico towards north following different latitudes through the modern states of Texas, Oklahoma, Arkansas, Missouri, Kentucky, West Virginia, Maryland, Virginia and North Carolina. The Southwest aboriginal culture has its expansion from the southern corners of modern times Utah and Colorado south via Arizona and New Mexico, including Texas, California, and Oklahoma, into Mexico. This physical division of both regions creates curiosity to compare the social and environment organization of both the regions. According to Charles Hudson,

Sun and earth Assignment Example | Topics and Well Written Essays - 250 words

Sun and earth - Assignment Example The theory was supported across the world from Greeks and further through mathematical astronomy by Aryabhata (Indian); by Muslim astronomers, Persian scientist and astronomer Biruni and through various publications across the world. It has given a new paradigm to the world of astronomy and hence paved the way to our present thoughts about the solar systems and other galaxies which were discovered due the formulation of heliocentric theory (Encyclopedia Britannica). On the other hand, geocentric model provided the earlier view that the Earth is in the center while, the Sun, the stars and other planets revolve around it. The stars are spinning about the pole and those which are close to the equator are rising and setting each day. The theory laid the fundamental view that Earth is rock-solid and stationary. The pioneer of this theory was Aristotle but with the advent of early modern era and after the 16th century, geocentric views were replaced by heliocentric theory (Lawson,