International Marketing Strategy Essays

Universal Marketing Strategy Essays Universal Marketing Strategy Essay Universal Marketing Strategy Essay BA (Hons) Marketing †third year Mathieu Chomarat: 06110827Portobello College Year 2006-2007 International Marketing Strategy Assignment 2: Ikea Case Study Lecturer: Carmel GernonRoom: F6 Table of Contents A Brief Introduction to the essay:1 Macro-condition of Ikea in Brazil:1 Politic and legitimate environment:1 Economical environment:2 Social environment:3 Technological environment:4 Environmental factors:4 Market technique entries:4 Wholly possessed stores:4 Joint venture:5 Strategy suggested: franchising6 Success factors in Brazil7 Ability to draw in new customers7 Be ready to sell great quality items at a low price7 Adapt the involvement with the retailing to another market8 Understand the reasons that make Ingvar Kamprad hesitant to enter another market:8 Bibligraphy9 Appendix 1: Brazil maps10 Appendix 2: Diary11 Number of words: 3,324 A Brief Introduction to the paper: With 237 stores the world over and a turnover of â‚ ¬ 17. 6 billion, the Swedish organization Ikea is the world head in home furnishings[ Ikea’s Fact and Figures 2006, from Ikea’s site at http://franchisor. ikea. om/] on account of a DIY idea that empowers them to sell very much structured great quality items at low costs. The Ikea Group intends to facilitate their universal venture into the South American Market. Brazil is the biggest nation in South America and fifth biggest nation on the planet after Russian, Canada, China and USA. It evidently speaks to the most alluring nation to target. The accompanying examination expec ts to feature dangers and openings with respect to the Brazilian market, just as giving arrangements and suggestions to a fruitful implantation around there. Large scale condition of Ikea in Brazil: Politic and legitimate condition: Even if the political soundness in South America isn’t as secure as nations from the European Union for instance, the circumstance remains very consistent as the previous president Luiz Inacio Lula da Silva won a second term in an avalanche triumph toward the finish of October 2006. Silva who used to show solid radical talk before acquiescing to control in 2002, is more observed by eyewitnesses as an anti-extremist with a moderate financial approach in his first term[ â€Å"Brazil’s president wins avalanche victory†, Associated Press, 29th of October 2006]. As he is viewed as more moderate than other South American liberal pioneers like Venezuela’s Hugo Chavez and Bolivia’s Evo Morales, his re-appointment is very greeting for huge organizations ready to enter the Brazilian market, for example, Ikea. Consequently, the nation doesn’t appear to introduce a major political hazard, as the president vowed to help development to arrive at the positions of created countries. Truth be told, the credit insurance agency Durcroire had some expertise in global exchanges surveys a danger of two dependent on a seven levels scale, giving the nation a relative poor political risk[ ducroiredelcredere. e, data from the 02/11/2006]. The legislature is likewise very dynamic for helping its populace to have better ways of life. Various projects, for example, the â€Å"Programa Carta de Credito Individual e Associativa†, â€Å"Habitar Brasil-BID (HBB)†, or the â€Å"Programa de Subsidio a Habitacao de Interesse Social (PSH) † help individuals to obtain appropriate homes, by giving awards and credits to individuals who are the most in the need. It in this way encourages them to leave their ghettos. Such projects can be viewed as a chance, since, while moving into new houses, individuals are bound to be happy to procure furniture too. Other social projects are beneficial for the populace and for Ikea also. For instance, the â€Å"Credito Solidario†, helping needy individuals to send their kids to class prompts an expansion in the quantity of instructed individuals who can be viewed as the objective of Ikea. For example, they can peruse the promotions, comprehend Ikea’s purchasing procedure, and manufacture their own furniture with composed clarifications for instructions[ bresil. organization/list. php? option=com_contenttask=viewid=663Itemid=51cataff=116cataffb=116]. Moreover, the administration is happy to make the nation increasingly liberal. In this plan, Brazil is a piece of the Common Market of the South, Mercosur which has established Common External Tariffs (CET) for Argentina, Brazil, Paraguay and Uruguay, concerning a developing number of items. In the geographic territory of Mercosur, the duties are additionally dispensed with, and components of creation (work or capital for instance) can move uninhibitedly. These CET apply for hardware merchandise at rates included somewhere in the range of 0% and 14%[ septimanie-send out. com/fr/fiches-pays/bresil/acces-au-marche] (numbers given for the taxes applied on the CIF[ Cost Insurance Freight] cost of merchandise). This is a major open door for Ikea, on the grounds that marked down levies would lessen costs on their imports to Brazil in the event that they set up at least one outlets there. There doesn’t appear to have an uncommon law constraining the size for large stores, which very goes in the correct route for Ikea. Affordable condition: With developing markets catching investors’ eye, many are turning their concentration towards South American markets. Solid fares, high product costs and expanded speculations have been contributing elements to development inside a significant number of the Latin American markets[ Ann-Marie Fleming, nineteenth of Jan 2007, seekingalpha. om, securities exchange assessments and examination website]. The absolute Gross Domestic Product (GDP) of Brazil for the second from last quarter of 2006 was about Real 542 billion ($ 253. 5 billion), which speaks to an expansion of 6. 55% contrasted with the past quarter[ SDDS, from the International Monetary Fund, January 2007]. Whenever taken on a for every capita premise, Brazil is positioned in 68th situation out of 181 nations with income of $ 8,561 per year, giving the populace a normal buying power[ International Monetary Fund, World Economic Outlook Database for the year 2005, September 2006]. In this manner, the economy appears to be more than proper to the passageway of Ikea, particularly since the worldwide imports in the nation have encountered a development of 16. 27% during the second from last quarter of 2006, arriving at Real 72 billion ($ 33. 7 billion), which could be gainful for the importation of furniture. Brazil has without a doubt very much recuperated from the 1999’s crisis[ SDDS, from the International Monetary Fund, January 2007]. However, the development of the economy of Brazil, contrasted from one year with another shows numbers very littler, as it developed roughly from 2. 3% in 2005 and 4. 9% in 2004[ state. gov/r/dad/ei/bgn/35640. htm#econ]. With respect to explicitly the furniture showcase, numbers show that in the earlier years, Brazilian imports diminished from $ 111 million of every 2000 to $ 96 of every 2001 (- 3%), which doesn’t appear to be very appealing for Ikea, thinking about its worldwide methodology of having one just provider for every item. The imports of furniture are commanded by the United States with 39%, trailed by Germany with 36% and Italy with 10%[ ABIMOVEL, Brazilian Association of Furniture Manufacturer, numbers from the case study]. The market of furniture in Brazil can be separated in three primary portions: private (60%), office (25%) and institutional associations (15%). Examination show that this keep going section is on the development and imports should increment extensively for the following 3 or 4 years, primarily imports from the United States. That could be fascinating if Ikea would support the institutional section, and on the off chance that they would have providers situated in the United States. The market is likewise controlled by high financing costs (18. 3% every year in 2001) which keep individuals from requesting bank advances, and therefore keep up their buying influence at lower levels than if they could get cash simpler. It at that point badly affects house buying and in arrangement, brings down the purchasing of house decorations as well. A conservative hazard in regards to the imports of furniture is carried with Brazilian high government obligation staying at 51% of the GDP, in spit of a relative decrease in 2004. This obligation could prompt the solidifying of import charges and other item burdens or even cash devaluation which could be horrible for Ikea and its low costs procedure dependent on high volume deals. A potential answer for focus on a market which spoke to around $ 3. 6 billion of every 2000 could be to utilize one of the 13,500 Brazilian furniture makers. The issue there is that the vast majority of these organizations are little, family possessed organizations not really adjusted for large scale manufacturing at a global scale. The points of interest to have plan of action in neighborhood creation are that: The normal pay for November 2006 is of Real 1 139. 8: $ 533. 2; The creation of particleboard which is utilized for 80% by the furniture business has expanded from 13% per year from 1990 to 1998, arriving at 1. 3 million m3. Social condition: Brazil establishes from the start sight a mind boggling opportunity. On one hand, it speaks to a developing populace of 186 million individuals. Then again, it is additionally a market which can be contrasted with European ones: the populace is for the most part Roman Catholic (74%), the greater part of the populace communicates in Portuguese, 86% of the Brazilian grown-ups are proficient and the workforce is of 90. 4 million individuals with just 8. 4% unemployed[ Information from the USA government, state. gov/r/dad/ei/bgn/35640. htm#econ, 2005]. Be that as it may, as the greater part of the creating nations, polarization is a noteworthy issue in the Brazilian culture. There are gigantic pay holes between the rich individuals and the needy individuals. The 10% most extravagant individuals win half of the absolutely pay and the 10% least fortunate individuals just get under 1%. Socia

Target Merging in Multiple Object Tracking - MyAssignmenthelp.com

Question: Examine about the Target Merging in Multiple Object Tracking. Answer: Presentation: This report is about the Goodbye Motors discloses new Zest car this is the new marked vehicle propelled by the TATA MOTORS. In this report, there is the short conversation about the objective market and the choices for the Zest. Additionally, a conversation about the elective methods of characterizing the Populace are in this report, and the testing Frame on the Zest likewise examine in this record (Tata Motors discloses Zest car, 2015). Toward the finish of this report, there is a conversation of testing approach. The objective market of Tata Motors reveals new Zest vehicle is the traveler vehicle showcase. This vehicle is a brilliant blend of shrewd styling, upgraded comfort and smooth that expands the profitability of drivers (Tata.com, 2015). In this manner, the organization Tata Motors says that the vehicle Zest car is built worldwide market. The another objective market of Zest vehicle is the market of little vehicles subsequent to propelling this many model organization losing their market shears, for example, Hyundai Motors, Maruti Suzuki and numerous different organizations. So this is the objective market for the vehicle Goodbye Motors Zest Sedan (Mkel and Huhtanen, 2010). The new vehicle of Tata Motors the Zest is a lot of famous in the worldwide market of India and between the all the individuals who like solace (Team, 2014). The new highlights of the vehicle are the explanation behind the populace, for example, new LED board, more solace, and the F-Tronic innovation. Another purpose behind the number of inhabitants in the vehicle among an enormous number of individuals in India is that it is the new vehicle of Tata Motors in four years flaunt the vehicle (Lai and Liu, 2014). Testing Frame of Tata Motors Zest vehicle: There are parcel numerous individuals in New Delhi, India, who purchase the Tata Motors Zest vehicle. A portion of those individuals resemble Mr. Kumar, Mr. Roy and Mr, Das, who are a lot of happy with the Zest Sedan. Mr. Roy said that the vehicle is brimming with new highlights which is give especially comfort at the hour of driving this vehicle, for example, scrape plate with light for front , Power Rear shade with remote and the jug holder on floor reassure and so forth (Lan, et al, 2014). As per Mr. Mayank Pareek, Tata Motors, Passenger Vehicle Business Unit, President, They are pleased to report that Zest from Tata Motors, which is the Company's first pristine item under its HORIZONEXT system, has finished one year in the business. On this event, we might want to stretch out our appreciation to our clients for confiding in the brand. Structured and created with best in class highlights, Zest has changed the substance of Tata Motors and has effectively exemplified the Company's attention on top tier item and administration encounters. With the unique version, we praise its first commemoration with our clients and would like to see the brand develop as a champ in its group in the years to come (Horino et al., 2013). There is some suggestion for the organization Tata Motors that the organization currently need to attempt to be well known in everywhere throughout the world not just in India by improving their model structure and including some new advancements in the vehicles. End The new vehicle model of Tata Motors Get-up-and-go car are a lot of well known among the individuals of India. In any case, the organization need to follow the above suggestion to procure more benefit from this vehicle model of Tata Motors. References Horino, H., Mori, N., Matsugi, A., Kamata, N. furthermore, Hiraoka, K. (2013). The impact of eye development on the control of arm development to an objective. Somatosensory Motor Research, 30(3), pp.153-159. Howe, P., Incledon, N. furthermore, Little, D. (2012). Returning to TARGET MERGING IN MULTIPLE OBJECT TRACKING (MOT). Diary of Vision, 12(9), pp.456-456. Lai, H. furthermore, Liu, X. (2014). The Design on Automobile Elevator Sedan Frame. AMM, 602-605, pp.151-154. Lan, S., Sheng, T. furthermore, Zhang, K. (2014). Promoting Factors of Green Economic Effect on Consumers Purchase Intention for the Market of Family-car in Taiwan. RWE, 5(2). Mkel, P. furthermore, Huhtanen, P. (2010). The impact of study examining outline on inclusion: the degree of and changes in liquor related mortality in Finland as an experiment. Dependence, 105(11), pp.1935-1941. Goodbye Motors discloses Zest car, e. (2015). Goodbye Motors uncovers Zest car, Bolt hatchback, Photo Gallery. [online] NDTV.com. Accessible at: https://www.ndtv.com/photographs/news/goodbye engines discloses get-up-and-go vehicle jolt hatchback-17060 [Accessed 27 Sep. 2015]. Tata.com, (2015). Goodbye Motors discloses the all-new Zest and Bolt through @tatacompanies. [online] Available at: https://www.tata.com/organization/releasesinside/Tata-Motors-uncovers the-all-new-Zest-and-Bolt [Accessed 27 Sep. 2015]. Group, C. (2014). Goodbye Motors discloses new Zest car - CarWale News - CarWale. [online] Carwale.com. Accessible at: https://www.carwale.com/news/12242-goodbye engines uncovers new-get-up-and-go sedan.html [Accessed 27 Sep. 2015].

Working With Legislative Framework Example

Working With Legislative Framework Example Working With Legislative Framework â€" Assignment Example > OutlineTHESIS: Working with the specified legislative framework in any institution is a number one when dealing with legal or disciplinary issues. IntroductionA general overview defining a legal frameworkScenario- A scenario that will be used as an for the assessment III. Assessment - The legal issues arising from the scenario and their critical assessment IV. Action and Reaction from the educational leader involved. Legislative Framework: Educational negligence, child abuse, educational malpractice and supervisionTo start with, we can define a legislative framework as a platform basis in which laws defining a particular body, organization, individuals or company work by. It usually acts as guidance whenever matters concerning certain conflicts that concern the law usually come up. In our case, we are going to concentrate on legislatures specifically based on educational negligence, child abuse, educational supervision and educational malpractice. This, as we see, aligns us to the line of academic circles, so as to maintain the relevance in this assessment where we shall describe a particular scenario in an academic sphere, assess some of its legal issues with respect to several legislative frameworks alongside their bibliography and lastly, action that should be taken by the educational leader or rather the response taken by the educational leader. Working with the specified legislative framework in any institution is a number one when dealing with legal or disciplinary issues. Case Study: A Scenario in High schoolA scenario is hereby presented where concepts of educational negligence, child abuse, educational malpractice and supervision will be contained. A group of students in high school is found breaking a school rule by smoking in the confines of the school compound. the punishment of such grave mistakes are well defined in the punishment framework of the school are well laid down, but in this case, the teacher who finds them, lets call him Mr. Shah, takes it his own responsibility to punish these students in a way he deem fits. He takes the group of students and gives them hard manual labour in his residence that is also in the confines of the school as part of a project of the school to host its teachers in the school compound. ; the manual work include gardening, slashing, fence pruning and other household chores such as washing of clothes and utensils. With the cowardice of this group of students to oppose this move due to the fear of a harsher punishment from the administration, they proceed and do this punishment. The teacher’s irresponsibility makes him abandon the students carrying out the punishment alone and due to lack of supervision; they go on smoking in the confines of Mr. Shah’s compound. Mr. Shah, has been recently separated from his wife and in the course of these students doing the punishment, the estranged wife comes back in Mr. Shah’s house while Mr. Shah is present and a bitter argument leading to a fight that the students witness ensues. The bitter wife ends up hurling insults at the students before leaving. In anger too, the teacher, Mr. Shah, adds more punishment to the students by giving them more chores and other harder gardening work. All this happens without the knowledge of the higher administrative powers of the school.

Your Brain and Behavior Critical Thinking

The cerebral cortex is the seat of mostly voluntary and conscious actions performed by the body. Reading is a complex activity that involves various parts of the brain to function both in consonance and in sequence to bring about the understanding that we require when we read. The occipital lobe of the brain is heavily involved in the process of reading. The occipital lobe of the brain is located at the posterior aspect of the brain. Fibers from the optic nerve that sub serves the eyes terminate in the occipital cortex. The temporoparietal and occipitotemporal cortical regions are also involved in the process of reading. Visual information is mapped into auditory and conceptual information in these areas of the brain. The left hemisphere of the brain is involved in these processes. Neurotransmitters involved in the circuits include serotonin, noradrenaline and acetylcholine. All these three neurotransmitters are distributed to all cortical areas. Gamma amino butyric acid (GABA) is the neurotransmitter used by most cortical interneurones. Other parts of the brain may be involved in the process of reading, depending on the content of the material. Therefore, the amygdala, which is concerned with emotional activities, could actually be activated by the process of reading if the material provokes any emotion. The Hippocampus is heavily involved in the process of reading because it is concerned with memory. In order to understand the material being read, the information must be stored in the short-term memory circuit. Moreover, in order to be able to recall the information later, the information is transferred to the long-term memory. In conclusion, reading is a complex activity that brings together many parts of the cerebral cortex in order to function optimally. Reference P. T. Turkeltaub et al (2003). Development of neural mechanisms for reading. Nature Neuroscience Vol 6. retrieved from http://www.nature.com/neuroscience on 3rd July, 2012.

Karl Marx and His Beliefs About Society Essay - 1608 Words

Karl Marx and His Beliefs About Society In the beginning of the nineteenth century, several aspects of life were coming together for those that lived in Europe, and especially for those that lived in England. The Scientific Revolution had ended in the late seventeenth century; consequently, leaving the lingering aspects of science as a proven way to show that some ideologies of the Catholic Church were incorrect. The Enlightenment of the late eighteenth century had caused all of England and Europe to decide where to let their lives lead them in terms of faith; either towards Christianity, or towards Protestantism. The final time period that had a major impact on the English and European society was the Industrial Revolution,†¦show more content†¦However, the philosophers consisted on getting their evidence through to the Church and the rest of European society. This event in history changed the mindset of most people from believing absolutely everything that the Church said was true, to questioning the beliefs that they had been believing for many years. It allowed people to realize that human reason could be used to devise how things actually were, thus allowing these same people the opportunity to decide their own beliefs. They did not need to rely on the existence of the Church to state all facts, hence, allowing them to have the opportunity to explore new things for themselves. This lead to the realization that Europe needed to be enlightened, and that the people needed to learn values and ideas for themselves. The Enlightenment was a time when the people of Europe used human intellect to help comprehend what to believe, especially in terms of their faith. The Catholic Church did not want the outside influence of those that felt as though there were alternatives to the catechism of what the Church taught as truth. The theory that science is based on the assumption that God is an unnecessary hypothesis in which there is no need to have in faith in order to prove and understand scientific theories is very evident in the ideas that Marx tried to express in the Communist Manifesto.1 Thus, scientists felt as thoughShow MoreRelatedTotalitarian Leaders: Stalin, Marx, and Mustapha Mond Essay1278 Words   |  6 Pagesrulers such as no freedom of religion, speech, or press to name a few. The more famous philosophies of totalitarian rulers, Joseph Stalin and Karl Marx, are reflected by the actions of the World Controllers in Brave New World. From the philosophical beliefs of Karl Marx to Stalin ’s belief in education, the World Controllers actions mirror Joseph Stalin and Karl Marx. Under the rule of Stalin many schools, homes, and hospitals were built (Caulkins 90). Stalin like most totalitarian rulers used the childrenRead MoreAnimal Farm: a Compare and Contrast on Karl Marx Communist Manifesto1037 Words   |  5 PagesTopic: Research the life of Karl Marx. What were the fundamentals of his Communist Manifesto and how do they compare to the ideas expressed by Old Major in Animal Farm. Animal Farm is a novella written by George Orwell in 1945. This particular story by George Orwell reflects on the events leading up to and during Stalin era in Russia. During the time he wrote, the work of Karl Marx’s Communist Manifesto was being followed by the Russian leaders, and some of Marx’s ideas can be foundRead MoreThe Wealth Of Nations By Adam Smith1384 Words   |  6 Pageswritten by Karl Marx and have forever changed the course of history. On May 5, 1818, Karl Heinrich Marx was born in Trier, Prussia (modern day Trier, Germany) to Heinrich and Henrietta Marx. 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Karl Marx’ works, Capital and The Communist Manifesto, have forever changed the course of history. On May 5, 1818, Karl Heinrich Marx was born in Trier, Prussia (modern day Trier, Germany) to Heinrich and Henrietta Marx. Throughout Karl’s schooling years, he was considered to be an ordinary student and did not take school seriously. In 1835, Marx began his college career at the University of Bonn, a college known for their rebellious students and wild parties. All too quickly, Marx was sweptRead MoreThe Radical Nature of Social Contract Theorists Essay1403 Words   |  6 PagesMan is increasingly intrigued by human nature and how society functions. Because of this interest, there is a plethora of concepts surrounding man and his condition. The social contract, an agreement among individuals where individuals must sacrifice something for protection, is a cornerstone in the operation of society. Over the years, various social contract theorists have worked to understand the ties that bind man. Karl Marx, Charles Darwin, and Friedrich Nietzsche, each felt constrained by the irRead MoreKarl Marx, Max Weber and Emile Durkheim offered differing perspectives on the role of religion. Choose the theorist whose insights you prefer and theorists views over the others.991 Words   |  4 Pagesï » ¿Karl Marx, Max Weber and Emile Durkheim offered differing perspectives on the role of religion. Choose the theorist whose insights you prefer and outline how they perceived religion operating socially. Discuss why you chose your preferred theorists views over the others. Marx, Durkheim and Weber each had different sociological views of the role and function of Religion. My preferred theorists view’s on Religion is Karl Marx’s as I feel his ideas are more relevantRead MoreMarx, Emile Durkheim, And Max Weber : The Unjust Theory Of The New World1470 Words   |  6 Pages Karl Marx, Emile Durkheim, and Max Weber were all born from a middle-class background in Europe. First Karl Marx was born in (1818-1883), Durkheim (1858-1917), and Max Weber (1864-1920) was close to Durkheim in age, but forty years later after Marx. Karl Marx, Emile Durkheim, and Max Weber are the most essential theorist of the nineteenth century whose theories are well known today. Their thinking was based on the rising of the preindustrial, and industrial revolution society. Europe went throughRead More Karl Marxs Life and Work Essay1478 Words   |  6 PagesKarl Marxs Life and Work As a German philosopher, a politician, and an important figure within the Communist League, Karl Heinrich Marx birthed a new way of looking at things through his beliefs, ideas, and writings. Karl Marx was considered to be â€Å"†¦certainly one of the most important minds of modern times†(1). He wanted to know more about philosophy, so that he might understand the political and social system better. http://csf.colorado.edu/mirrors/marxists.org/archive/marx/photo/indexRead MoreKarl Marx : An Atheist And Materialist1204 Words   |  5 Pages29, 2014 Karl Marx Karl Heinrich Marx was born on May 05, 1818 in Trier, Germany to Heinrich Marx, a lawyer, and Henriette Presburg Marx, a Dutchwoman. The eldest of five children, Marx was baptized Jewish as his parents however; attended a Lutheran elementary school. He soon rejected both the Christian and Jewish religions, becoming an atheist and materialist. Marx claimed that Religion is the opium of the people† (Karl) He later attended Friedrich Wilhelm Gymnasium where he met his childhood

Doll House Free Essays

Act I Example 1: (p1600) Helmer: â€Å"That is like a woman! But seriously, Nora, you know how I feel about that. No debt, no borrowing† Torvald thinks that every woman is the same and woman is debt and owe from man but he did not accept that his life depend on borrowing. Example 2: (p. We will write a custom essay sample on Doll House or any similar topic only for you Order Now 1605) Nora: â€Å"Tell me, is it really true that you did not love your husband? Why did you marry him? †/ Mrs. Linde: â€Å"My mother was alive then, and was bedridden and helpless, and I had to provide for my two younger brothers; so I didn’t think I had any right to turn him down. † Almost women at that time always think that married a rich man is the only way to be better (about finance). Example 3: (p. 1607) Nora: â€Å"Besides, how painful and humiliating it would be for Torvald, with his masculine pride, to know that he owed me anything! â€Å". Act II Example 1: (p1624) Helmer: â€Å"They already know at the Bank that I’m going to fire Krogstad. Do you think I’m going to let them all say that the new manager has changed his mind because his wife said to† He could not accept that a man listen to his wife. That is an affront. Example 2: (p. 1629) Nora (jumping up and going to him). â€Å"Oh, dear, sweet Doctor Rank, I didn’t mean that way. But surely you can understand that being with Torvald is a little like being with papa† In Nora mind, she is always under pressure of man, even her husband, she respect him, idolize him as her father Act III Example 1: (p1637) Mrs. Linde:†Nils, when a woman has sold herself for someone else’s sake, she doesn’t do it a second time. † Woman must to worship her husband and never remarried or adultery. It is the quality, the standard of woman. Example 2: (p1640) Helmer: â€Å"What? You’re serious, Nora! You won’t? You won’t I’m your husband† Husbands think that He owns his wife (either her soul or her body). She cannot deny every request from him. . How to cite Doll House, Essay examples

Auditing HIH Insurance Ltd

Question: Discuss about the Auditingfor HIH Insurance Ltd. Answer: In relation to HIH Insurance Ltd, it is notable that its insurance business failed to function in an appropriate way, thereby resulting in the appearance of various kinds of risks. In other words, the way by which a proper business must work, could not be undertaken by HIH Insurance Ltd. The key reason to such improper functioning of the company can be attributed to an improper due diligence process and other statutory compliances, thereby forcing Winterthur Insurance to withdraw their interest. In relation to the business risk of the company, it must be kept in mind that investment of public funds in the company must be looked after in an appropriate way. Moreover, such companies are responsible for undertaking prior precautionary measures by adhering to various statutory provisions and maintaining effective due diligence processes (Heeler, 2009). Furthermore, in order to assess business risks of HIH Insurance Ltd, it must be noted that every company must adopt a proper study of market and relevant understanding of their businesses, but this was not prevalent in the case of HIH. Moreover, since the company had attained several businesses and diversified its operations into segments like marine, aviation, etc, without proper due diligence and permission of the Board, various associated risks started to emerge. On a whole, due to lack of proper research into several businesses, the company failed to adopt provisions based on claims settlement. Nonetheless, these irregularities damaged the companys capital structure and made it vulnerable (Christensen, 2011). All the irregularities of HIH Insurance played a key role in enhancing the inherent risk factors. A major setback happened when it took over FAI Insurance at a premium rate. Moreover, prior to such takeover, the company did not undertake proper due diligence processes. This loss became a major disadvantage for the company when it bought the shares of FAI at a premium rate. Furthermore, second risk factor relates with the discontinuation of industrial measures of maintaining prudential standards by the company. Since these standards assist in safeguarding contingencies and natural disasters, the company introduced reinsurance policy instead of these, thereby enhancing its inherent profile of risks (Mock et. al, 2013). Thirdly, the huge sum expended for auditing and consulting services by the company, its accounts, and other activities depicted various flaws that make it questionable in the minds of others. This also resulted in enhancing the inherent risk profile of the company. Furth ermore, lack of non-executive auditors and directors independence made the companys vigilance complicated (Cappelleto, 2010). Therefore, under-reserving measures, incapability to pay off liabilities, the absence of proper supervision, etc, played a role in increasing the inherent risks of HIH Insurance. Lastly, purchasing companies having a relationship with its competitors also destroyed its position because competitors always desire for such opportunities to arise. Hence, these are all the inherent risk factors that contributed to an increase in the inherent risk assessment of the company. In relation to HIH Insurance, it can be witnessed that the directors of the company fraudulently utilized the funds invested by the public, by issuing and holding current annuity rate policies. Moreover, such a scenario was also prevalent in the court case of Equitable Life Assurance Society vs. Hyman wherein the directors of Equitable Life allotted various bonuses to the policyholders against the accepted terms and conditions. Therefore, because of such fraud, Equitable Society was held liable and terminated by the House of Lords. Hence, Anderson can take into account such a court case in ascertaining the possibility of the partnership being held responsible to clients. Furthermore, in relation to the partnership being liable to the creditors, Anderson can take the court case of Harris vs. Balk into account for future reference. Besides, this court case can assist in encountering the declaratory knowledge of the partnership. In this case, it was held by the Supreme Court that the personal service wherein the court stays is appropriate, could offer court personal influence over it. Besides, the situs of a debt aligns with that of the debtor (Kaplan Williams, 2013. Negligence generally comprises of something that an ordinary or reasonable individual would not commit or running away from committing anything that an individual would do after scrutinizing the scenarios (Gilbert et. al, 2005). Hence, if a person intentionally falsifies or contravenes the rules and regulations by taking signatures of policyholders without their permission, it is termed as intentional negligence and punishable as well. Therefore, to ascertain negligence to be upheld, an act of contravention is compulsory, and there must be a proper duty. Besides, it is upon the jury to decide whether an act is a negligent one or not. For this purpose, both plaintiff and defendant must bring forward relevant matters in order to allow the jury to make a proper It is upon the plaintiff to prove whether any injury or loss has occurred because of the defendants negligence. Similarly, the defendant must undertake proper care to the plaintiff, or else the jury may rule the judgment in the f avor of the plaintiff. After bringing forward their matters, the lawyers of both plaintiff and defendant must bring their claims so that the jury is convinced of the actual happening. In relation to HIH Insurance Ltd, its management consisted of three prior partners who worked in the audit firm. The company wanted to hire these prior members of the external audit team because according to the company, such team was already well known with its operations, and therefore hiring the same team would fetch them more opportunities for the future. Moreover, this can assist in effective risk management and the parties can procure an effective level when prior members work in the team. However, it was shocking that investing huge amounts of resources in auditing and consulting services, many loopholes generated, which concludes that such prior members were hired to manipulate the company accounts. It is the auditors duty to understand the business functioning and report in case of any irregularities to the Board. However, in the case of HIH Insurance Ltd, provision of auditing and consulting services by the same firm has raised many objectives. Nevertheless, it has also been witnessed that such combination of services through the same firm can assist in developing expertise in several areas of business that no other consultant can cater to. Furthermore, with an enhancement of a number of transactions in todays businesses, substitute choices such as consultancy, etc, looked after by the auditors are very beneficial in enhancing business operations. In addition, services associated with taxation policies and human resource management can also be offered by such audit firms that are effective for enhancing judgments. On a whole, the more understanding of business procured by auditors, the more developed will be the provision of consultancy services (Baldwin, 2010). Hence, provisi on of both auditing and consulting services through a single firm has its own limitations and advantages, but it depends upon the management to make proper decisions regarding selecting such firms. As per the rules designed under the ethics code, an auditor can offer consultancy services as well as auditing services. However, an auditors independence must not be deteriorated because of such decision, as it directly influences the judgment by making it biased (Sawyer, 2013). Furthermore, there are specific scopes under such code of ethics that avoid the operation of auditing services against the well-being of the company (Hoffelder, 2012). In other words, if an auditor offers consultancy services that are associated with taxation policy or human resource management, it is ethical. However, if such an auditor also plays a key role in managing the books and accounts of the company, it is considered unethical by nature. Hence, in relation to HIH Insurance Ltd, it can be witnessed that the hiring of previous partners of the external audit team is unethical by nature, as they failed to report any loopholes and irregularities prevailing in the companys operations. In relation to HIH Insurance Ltd, it can be witnessed that because of improper decisions and ineffective management on the part of the company, various risks arose that resulted in its downfall. Besides, this example can be very relevant in the case of any insurance businesses. Hence, to avoid any kind of such incidents in the upcoming tenure, the CLERP and Ramsay Report designed several strict frameworks that must be followed by every insurance company. Moreover, the prime goal behind such introduction was to replace the irregularities in the present system. On a whole, it can be stated that the processes of the audit are crucial for the smooth functioning of a company, as it assists in assessing the true and fair value of its financial position. In addition, adherence to every other statutory provision is compulsory as it assists the companies to enhance their reputation in the market, thereby enhancing their performance as a whole (Parker et. al, 2013). Moreover, these statutory c ompliances also accommodate undertaking of prior due diligence before making any relevant decision that can affect the companys operations, thereby resulting in its downfall. References Baldwin, S 2010, Doing a content audit or inventory, Pearson Press. Cappelleto, G. 2010, Challenges Facing Accounting Education in Australia, AFAANZ, Melbourne Christensen, J. 2011, Good analytical research, European Accounting Review, vol. 20, no. 1, pp. 41-51 Gilbert, W. Joseph J Terry J. E 2005, The Use of Control Self-Assessment by Independent Auditors, The CPA Journal, vol.3, pp. 66-92 Heeler, D 2009, Audit Principles, Risk Assessment Effective Reporting, Pearson Press Hoffelder, K 2012, New Audit Standard Encourages More Talking, Harvard Press. Kaplan, S. Williams, D 2013, Do going concern audit reports protect auditors from litigation? A simultaneous equations approach, The Accounting Review, 88(1), 199-232. Mock, T. , , Bdard, J., Coram, P., Davis, S., Espahbodi, R. 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