The Analysis of Wal

The Analysis of Wal Wal-Mart is one of the biggest worldwide retailing enterprises working in North America and universally. The organization was established by Sam Walton in 1962. Today, the company’s central command are situated in Bentonville, Arkansas. The company created from a little chain of stores in Arkansas, and now Wal-Mart works in excess of 7,000 stores which are situated round the world (Ingram, Yue, and Rao 55; â€Å"Walmart†).Advertising We will compose a custom contextual investigation test on The Analysis of Wal-Mart’s Retailing Strategy explicitly for you for just $16.05 $11/page Learn More Wal-Mart’s activities are sorted out with a certain goal in mind to cover the necessities of such divisions as the US stores, Wal-Mart Sam’s Club, and worldwide stores found all around (â€Å"Walmart†). Wal-Mart stores propose an assortment of food items, medications, and general merchandise. To break down the corporation’s retailing system and to ex press the viewpoints for the corporation’s future turn of events, it is important to concentrate on inspecting the Wal-Mart strategy’s qualities, shortcomings, dangers, and openings. The Analysis of the Industry and Wal-Mart’s Strategy The retailing business in the United States is profoundly serious, and Wal-Mart needs to contend with so much opponents as Kmart, Target, Meijer, and Safeway straightforwardly. The most testing rivalry is seen in the circle of general retailing where markets contend in proposing a scope of products, expressing low costs, and creating limiting methodologies for clients. Be that as it may, Wal-Mart likewise contends with Costco in the circle of stockroom club exercises (Pradhan 567). To contend inside the business viably, Wal-Mart built up a fruitful retailing system which ought to be examined with references to the ideas of target market and retail situating (Levy and Weitz 110). Wal-Mart’s target clients are assorted in the ir requirements and interests that is the reason the organization arranges to fulfill the requests of the distinctive population’s classes, including ladies, senior people, and kids. Wal-Mart’s retail situating relies upon the methods of how the organization can be separated from different retailers inside the business. Wal-Mart decides to draw in various clients while proposing them an assortment of items and inventive ways to deal with exploring and investigating their inclinations (â€Å"Walmart†). To furnish clients with the items which are fascinating for them while following the minimal effort technique, Wal-Mart additionally builds up the solid relations with providers, and these relations are gainful for both the retailer and clients. This methodology ought to be talked about with references to the company’s retailing blend which remembers the concentration for item, value, spot, and advancement. Wal-Mart sets up solid relations with providers to give clients an assortment of items fulfilling their requests and meeting their neighborhood preferences.Advertising Looking for contextual investigation on business financial matters? How about we check whether we can support you! Get your first paper with 15% OFF Learn More The extraordinary grouping in Wal-Mart stores gives clients the chance to settle on the correct decision. Also, Wal-Mart valuing strategies depend on the standard of minimal effort retailing, and stores propose various limits every day and week after week to cover all the gatherings of clients. It is imperative to take note of that Wal-Mart stores are found in the US metropolitans as well as in unassuming communities in the country’s states. Likewise, the retailer centers around tending to the customers’ needs that is the reason Wal-Mart stores found all around are created to react to the nearby desires (Ingram, Yue, and Rao 60; â€Å"Walmart†). The company’s advancement procedure de pends on proclaiming the rule of proposing better items for lower expenses, and it is adjusted with respect to the necessities of the neighborhood open all inclusive. Wal-Mart Strategy’s Strengths and Weaknesses Wal-Mart stays to be one of the best worldwide companies in the circle of retailing as a result of a scope of qualities related with the company’s methodology. The principal quality is the powerful evaluating approach. The organization is the value head inside the business as a result of proposing lower costs basing on the practical relations with providers. The following quality is the emphasis on the wide collection proposed to clients. Selling a scope of items which clients need, Wal-Mart stores address all the customers’ every day requests. Moreover, focusing on utilizing advances to gather the information about the customers’ needs, Wal-Mart builds up the best circulation and conveyance frameworks (Pradhan 567). Furthermore, Wal-Mart opens st ores in numerous urban areas in the USA and in numerous remote nations, and the organization works as probably the biggest retailer on the planet while building up the brand picture and customers’ unwaveringness (â€Å"Walmart†). Wal-Mart reacts to the cutting edge patterns and uses internet based life and versatile advances to meet the customers’ interests and to build up the work with customers’ orders. Be that as it may, there are likewise shortcomings in the retailer’s procedure which are the emphasis on customs as opposed to on changes; the absence of the powerful separation system to contend inside the business; and the attention on monopolistic technique to build up the business inside the business. Having become the biggest and most unmistakable retailer inside the business, Wal-Mart focuses on supporting the picture instead of on extending the regions for meeting the customers’ interests (Pradhan 568). Open doors for Wal-Martâ€℠¢s Further Progress The open doors for Wal-Mart’s further fruitful rivalry inside the market rely upon the successful utilization of the qualities identified with the corporation’s system. Working universally, Wal-Mart can concentrate on the further development of the corporation’s nearness in the worldwide market. In addition, concentrating on the utilization of advances and advancement, the organization can likewise give more consideration to the chances of web based retailing.Advertising We will compose a custom contextual analysis test on The Analysis of Wal-Mart’s Retailing Strategy explicitly for you for just $16.05 $11/page Learn More Today, the organization utilizes distinctive versatile applications and creates methodologies to work in the circle broadly (â€Å"Walmart†). Along these lines, the attention on internet retailing and utilizing computerized procedures is a decent open door for an organization to pull in more clients. Regardless of the way that Wal-Mart as the retailer is appealing for clients during the decades, more consideration ought to be paid to progress the retailer’s brand picture since it is important to concentrate on new ways to deal with figuring the company’s crucial vision to mirror the customers’ values. The Threats Challenging for Wal-Mart Although Wal-Mart utilizes multiple a large number of individuals internationally and its incomes are more than $450 billion, there are a few dangers which the organization can look inside the business as a result of the expanding rivalry among the adversaries (Pradhan 569). Wal-Mart the executives methodologies and approaches don't pull in workers, and these procedures are frequently talked about as segregating regarding installments and conditions. Negative inputs identified with the company’s arrangements in regards to Wal-Mart workers additionally impact the customers’ disposition to the retailer, and they can be tal ked about as trying for the brand picture and customers’ dependability. Thus, more consideration ought to be paid to improving the company’s corporate methodologies to influence the corporation’s improvement and public’s dreams emphatically (â€Å"Walmart†). Different dangers are related with retailer’s worldwide tasks. Regardless of the way that Wal-Mart proposes a wide scope of items for clients all around, neighborhood contenders can likewise turn into a danger to the retailer’s exercises on account of their attention on reacting to the market most recent inclinations. More consideration ought to be paid to the methodologies followed by Wal-Mart stores all around. Wal-Mart’s Performance, Position inside the Market, and Prospects for the Future The viability of the retailer’s execution relies upon numerous elements which incorporate the retailing technique and the positive picture as the business (Levy and Weitz 24). I n the event that Wal-Mart’s retailing system concentrated on the customers’ needs and brand picture is fairly successful to build the retailer’s upper hand, the company’s picture as the business isn't powerful to add to the customer’s faithfulness on account of the incapable administration methodologies and strategies. All things considered, Wal-Mart expects to follow the methodology of the supportable improvement to react to the communities’ needs all inclusive (â€Å"Walmart†). Elevated levels of deals bolster the possibility that Wal-Mart’s execution depends on the viable fundaments, and the picked retailing system to meet the nearby customers’ needs universally adds to the retailer’s solid situation inside the market.Advertising Searching for contextual investigation on business financial aspects? We should check whether we can support you! Get your first paper with 15% OFF Find out More That is the reason, the possibilities for the fate of Wal-Mart stores can be examined as rather positive due to the customers’ acknowledgment of the brand and Wal-Mart’s powerful activity of the retailing blend. To give solid money related returns later on, it is important for the organization to concentrate more on extending the global fragment and on improving the relations with suppli

Segmentation of Mercedes

Chapter by chapter guide 1. 0 Situation Analysis/Current Marketing Mix†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 1. 1 Current Product†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 3 1. 2 Current Pricing†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 4 1. 3 Current Distribution†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4 1. 4 Current Promotion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 5 2. 0 Segmentation Theory†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 6 2. 1 Defining and Explaining Segmentation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 6 2. 2 Explaining Three Benefits of Mercedes-Benz Brand from utilizing Segmentation †¦Ã¢â‚¬ ¦7 3. Target Market Identification†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 7 3. 1 Geographic Segmentation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 7 3. 2 Demographic Segmentatio n†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 8 3. 3 Psychographic Segmentation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦8 3. 4 Behavioral Segmentation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 9 4. 0 Bibliography†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 20 Surname 3 1. 0 Situation Analysis/Current Marketing Mix 1. 1 Current Product Being a profoundly respectable brand internationally, Mercedes-Benz has effectively infiltrated in Singapore market.Presently, Mercedes-Benz C class has qu ickly entered in the Singaporean extravagance vehicle showcase because of the distinction related with the brand. Being a customer item, Mercedes Class C has been described by elite that precisely addresses individual issues for dynamic people through the unrivaled brand name. Throughout the years, Mercedes Benz brand name has won worldwide acknowledgment, adding to its ubiquity in Singaporean market. The different sub-models of Mercedes Benz Class C including C230, C240, C320 and C350 among others offer shoppers with different rich administrations, other than negligible travelling.It is essential to take note of that, the capacity of a center item to offer solid and other advantageous qualities other than the center item utility improves its affinity to procure fame among consumers1. In such manner, Mercedes Class C has been considered starting at great level, having modern highlights to upgrade driving encounters, sharp in nature and having solid brand name. In Singapore extravaga nce vehicle showcase, it has been accounted for that 70% of clients enquiring about vehicle are quite intrigued by Mercedes Benz Class C. This means, a lot of their time is spent looking on the snazzy idea of the product2.It has been seen that, the greater part of these purchasers searching for Mercedes Benz Class C don’t effectively choose different brands until they get it some different occasions when it is accessible. This is prove by the selling trademark of the item â€Å"Drive and Seek,† which targets guaranteeing the customers extreme execution of the item. All the more along these lines, the renowned idea of Mercedes Class C can be considered as a one of a kind element that has added to its ubiquity in Singapore. It has been seen that, Mercedes Benz Class C is multi-reason, since it is as yet utilized in sports just as for private open air traveling.It is essential to take note of that, the capacity of an item to offer customers with extra advantages other tha n the fundamental uses adds to its ubiquity among shoppers. By having more extra advantages than its 1 Richard, Semenik and Gary, Bamossy, Principles of Marketing: A Global Perspective (New York: Prentice Hall, 2005), 68. 2 Beng, Chua. Life isn't Complete without Shopping: Consumption Culture in Singapore, (Singapore: Singapore University Press, 2003), 72. Last name 4 center contenders like BMW, Mercedes Benz Class C has entered well in Singaporean markets. 1. 2 Current PricingThe extravagance vehicle showcase in Singapore is an oligopoly serious market, since there are hardly any extravagance vehicle marks in the market. Being a prevalent brand in the market, Mercedes-Benz C-Class has effectively entered in the Singapore showcase. This has been seen in the manner this brand profoundly requested, regardless of its significant expenses. Especially, Mercedes Benz Class C estimating methodology is valuebased, considering the path customers of this item have not been touchy to the signi ficant expenses for this item. It has likewise been seen that, increment in costs for Mercedes Benz Class C doesn't influence customer demand.This is confirm when costs for Mercedes Benz Class C 350 expanded from ? 32580 in the year 2006 to ? 33130 in the year 2007, the absolute interest for the item stayed undisturbed, comprising of about 30% of extravagance request in Singapore3. This shows how the predominance of the brand isn't influenced by value changes, since purchasers have are profoundly faithful to the brand, in spite of contenders utilizing different strategies to showcase their items. Client unwaveringness for Mercedes Benz Class C is exhibited in the manner buyers in Singapore keep up the interest for the brand, regardless of its rivals bringing down their prices.For occurrence, BMW is one of the center adversaries of Mercedes Benz, whose propensity of decreasing costs has not influenced the interest for Mercedes Benz Class C. Especially, the year 2007 saw BMW bring dow n the costs of its extravagance vehicle models in Singapore so as to win more clients, a technique which didn't influence the interest for Mercedes Benz Class C4. This means, shoppers will in general see the estimation of Mercedes Benz as being far a lot higher than the cash they pay for.As an outcome, significant level of client unwaveringness has been common for Mercedes Benz Class C in Singapore because of the exceptional highlights and esteemed nature of the extravagance vehicle brand. Taking into account that Mercedes Benz Class C is sophistically fabricated utilizing exceptionally expensive assets, the procedure embraced by the brand in estimating the item is viable. Despite the fact that Mercedes-Benz C-Class is a costly vehicle, its incentive among the buyers has caused it to get unwaveringness among the clients. 1. 3 Current Distribution 3 Leslie, Butterfield, Enduring Passion: Story of the Mercedes Benz Brand, (New York: Wiley Publishers, 2005), 36. Dennis, Adler, Mercedes Benz: First Gear, (London: Motorbooks, 2008), 46. Family name 5 Mercedes C-Class has been conveyed utilizing an assortment of diverts in Singapore. With certain purchasers settling on online requests, there are different selling purposes of the extravagance vehicle in Singapore. Among the different goal focuses for Mercedes Benz Class C incorporates the significant fascination focuses in the island like Ion Sky, and Marina Bay Sand among others. All the more along these lines, Mercedes Benz Class C has been disseminated in Singapore through significant presentations in the island like the Singapore Showroom, Titanic display, MBS Countdown, and Elephant Parade among others.This has encouraged the appropriation of the extravagance vehicles to the individuals where they can see it and make purchases5. By having different retail locations for this item, high volume of deals has been knowledgeable about this brand, since buyers think that its simpler to contact the merchants straightfor wardly. Since clients can visit the show rooms and investigate the vehicles legitimately, direct associations between the brand’s delegates have encouraged brand fame among the individuals of Singapore.Since Mercedes Benz Class C items are delivered in Singapore, the vast majority of the merchants are company’s agents who go about as deals operators. This makes the clients come up short on the chance of communicating legitimately with the makers of the brand. With the headway of web based business, numerous clients in Singapore have received web based buying system for the Mercedes Benz Class C vehicles. Through online stores, Mercedes Company has had the option to significant client base in Singapore6. Being a very much evolved nation, numerous individuals use PCs, making it simpler for them to make the vast majority of their buys online.Through the reception of web video with intelligent specialist spine chiller just as the company’s site, shoppers have had th e option to know the items. In the wake of making on the web buys the vehicles are transported to the clients through the port of Singapore which handles different items from Europe and different pieces of the world. Using a mix of physical selling focuses and web based promoting system, Mercedes Company has had the option to circulate Mercedes Benz Class C vehicles to numerous shoppers in Singapore. 1.

How to Overcome Fear and Feeling Overwhelmed

How to Overcome Fear and Feeling Overwhelmed Have you been feeling fearful lately? Maybe stressed out?You are not alone in this. Many Americans are stressed, especially due to health care concerns. Source: APABut being a common problem doesn’t make it normal. Neither does it mean that the situation should be ignored.Life has become very challenging for the majority.You may not be having a job. And if you do, you may not be earning enough to sustain a comfortable life. Maybe you’re even avoiding having children because of this and definitely cannot make any investment.With so many things to do and so little resources, anxiety creeps in. Life becomes overwhelming and you no longer have control over important aspects of your life.If you are feeling overwhelmed and fearful to whatever degree, this article is for you. You can also share it to help others.As you read it, you will understand the situation better and learn what you can do to change it.SYMPTOMS OF BEING OVERWHELMEDSometimes, unless you are trained to detect something, you may not notice it. This is why creating awareness is important.For instance, the number of deaths due to cancer can be avoided if people just knew what signs to look out for. Or understood the need for screening.The same applies to feelings of being overwhelmed. Do not ignore the symptoms or think it’s just how things are. Recognizing them for what they are will help you resolve the underlying issues.It’s difficult to come up with a comprehensive list of symptoms.To get you started however, here are a few symptoms you can run through.This will enable you determine where you stand on the “feelings of being overwhelmed” scale.StressThe first thing you’re likely to easily identify when overwhelmed is stress.Stress by itself is not necessarily a bad thing. It is just a way through which your body tells you to take a break.But when you fail to do that, other things start going wrong.You get stressed because of the release of the hormone cortisol. When you act appropriately, this is used up and you get back to normal.But if you persist in the stress-producing situation, the hormone is continually pumped into the bloodstre am and the results get worse.A myriad of life issues can bring about stress and feelings of being overwhelmed are one of them. So paying attention to your stress levels is a good way of keeping things in check. Source: Verywell HealthWorryRarely will you be stressed or overwhelmed by anything and not be worried.This is just a natural result of stress.Are you stressed about your debt level and financial insecurity? You’ll be worried about your future.Are you overwhelmed by the amount of pending work? You’ll be worried about your boss’ reaction.Are you stressed about how your spouse is treating you? You’ll be worried whether things will get worse and end up in a divorce.All the above scenarios point to things going out of control. You were probably quite okay at some point but now you aren’t.And as life keeps moving faster and people keep chasing after it, being overwhelmed is likely to be more and more prevalent.As long as you’re overwhelmed, you’ll have a thing or two to be worried about.HopelessnessAnd when things get worse, you will start feeling hopeless.Hopeless that the situation will never improve. Hopeless that you cannot do anything about the situation that’s causing you stress. Hopeless that your overwhelmed state is something you’ll have to live with.This is the point where you might start exhibiting symptoms of anxiety or depression.This is not a good state to get to and hopefully, the tips shared below will help you prevent it.Hopelessness is also fueled by the kind of thoughts running through your mind.At the beginning, you can contain them. But as the situation deteriorates, it becomes harder and you start believing that nothing can be done.Just know that there is always something that can be done. And if you don’t have the strength, just reach out for some support.IrritabilityOne of the tell-tale signs of being overwhelmed is increased irritability. If you are usually disposed to anger outbursts, being overwhelmed makes it worse.If someone requests you to do something, especially your peer or junior, you are likely to lash out at them. You may see them as being disrespectful, unfair or even malicious in their intentions.None of these assumptions may be true and the people you lash out at may just conclude that you’re stressed. To you however, they are the ones making life difficult for you.If this is not dealt with quickly, you might move from being irritated and start attacking your perceived enemies.With such action though, you might be making things worse. You may attack or frighten the very people who could have helped you out of the situation.WearinessAlong with the feeling that you cannot manage the burden on your shoulders comes feelings of weariness. Any time you’re overwhelmed, you will also start feeling tired.This is because you are working towards solving the problem but the expected results seem to elude you.The truth however is that you’re putting in very inefficient effort.The stress you’ve accumulated is causing you not to be focused and so your brain isn’t serving you well. It has many other things it’s trying to accomplish. Chief among them is keeping you safe.So your brain will si gnal to you that some rest is necessary. If you don’t rest, things are likely to get worse. You look at the pile of work in your in-tray and realize the need to keep working. Remembering that you could be kicked out of your home due to non-payment of rent, you will want to finish the job.But since your mind is not settled and focused, you get thoughts of having too much to handle. And since you’ve been working hard to finish your work, you are certainly tired.Your mind may start shutting down and cause you to become sleepy.ProcrastinationProcrastination is another classic problem faced by many. Victims range from perfectionists seeking to get all the details right to overwhelmed people not knowing where to start.If you’re extremely overwhelmed, you may not see an end in sight.You need to look for a way of getting things done. You need to plan. But the plans don’t seem to be working. Your efforts don’t seem to be paying off.Are you making the right plans? Are you prioritizi ng tasks the right way? Do you even have the capacity to handle the situation or should you wait till you’re able to?It’s very easy to decide that you need some extra time. Maybe to research the right tools to help you become more efficient. Or the right way of dealing with the situation at hand.All these make sense. But for your current situation, it’s not the best thing to consider doing.Your mind is already bogged down by issues and your focus is lost. “Researching” is most likely a term you’re using to rationalize time-wasting activities.HOW TO OVERCOME FEAR AND FEELING OVERWHELMEDIf you find yourself in a situation where you’re overwhelmed, don’t give in to the pressure.Whether it makes sense or not, just tell yourself that you can get out of it. The truth is that you can.You just need to believe it then slowly work your way out.This article is all about pointing you in the right direction. We have broken the solution down to two distinct phases.The first is whe re you deal with the current situation as it is. This is for the sake of getting a grip on your emotions to avoid the roller coaster ride. The second phase deals with the problem at the root of the situation.Any time you have an issue troubling you, it’s best to try getting to the root. If you don’t, you’ll end up dealing with the symptoms only.Those will disappear then re-appear again. It’s like cutting down the branches of a tree and hoping that since the leavesâ€"the food-making partâ€"are gone, the tree will die.Here is your way out.1. TAMING THE SYMPTOMSThe first thing to take note of is the wording used here. The tips provided here are merely for the purposes of “taming” the symptoms. The reason for this is to allow some logic to filter in.When you’re overwhelmed and are giving in to fear, it is your emotions that are ruling your will.Your will is the part of you that makes decisions. Despite being the master, it relies on your emotions and logic to decide what†™s best for you. It’s like the CEO asking for information from company managers.Take a Deep BreathWhen you become overwhelmed, your body starts functioning differently. It deviates from the norm. Primarily, you will have increased brain activity and your blood pressure will also increase.As your brain is working hard to solve the problem, your heart works hard to supply it with the right amounts of oxygen and energy.This is why you will start breathing faster so as to provide your heart with the oxygen to supply your brain.The good thing is that you can easily control all of the three connected activities i.e. breathing, heart rate and brain activity.And you don’t need to deal with each of them individually. Targeting one works on the rest.Watch the below video for some breathing techniques you can practice any time on your own. Your breathing is the key here. Regulating your breathing will slow down your heart rate. Your brain will take the cue and calm down too.Be OptimisticBe ing overwhelmed brings about a lot of negativity. You become pessimistic as you struggle with the issues facing you. And as long as this is your mindset, you may only struggle some more.The problem with being negative is that it establishes the situation over you. You therefore only see how big and tough the situation is and not how you can deal with it.Not even how you can address it step by step until it’s all finished.Optimism / Pessimism ScenarioImagine a trader in North Africa walking across Sahara desert with his camel carrying his wares. At times, he climbs up the camel for a ride.When he gets tired of sitting, he gets down to walk beside it. With temperatures getting as highs as 100.4 to 104.0 °F, he can’t avoid being thirsty.When he runs out of water, he goes on for a day before finally arriving at the market. He is relieved to see a fellow trader he knows. Asking for water, he is given a small container (250 ml) which is only half full. What do you think he will do?If he’s negative, he will start complaining. “Is this all you can give me? Do you know how tough my journey has been?”Obviously, his fellow trader doesn’t know what happened on his journey to the market. Also, it’s very possible that the water provided is all there is.If he’s positive, he will notice the small amount of water but appreciate all the same. To him, that’s better than nothing. A little relief is better than none at all.Apply this to your situation.You may feel like everything is against you. According to you, the only relief you expect to have is for all your problems to be solved at once. Your pending work to disappear, your debts to be miraculously canceled and your bank account filled with $1,000,000.The chances of this happening are very slim.But if you just believe that the situation can be dealt with, you’ll be able to get things sorted.2. DEALING WITH THE ROOT PROBLEMWith the emotional part of the problem under control, you can now dive deeper to de al with the real issue.This is where you start building a system which can get you out of the current mess.Having developed a positive mindset, you can now take action. A positive attitude will help you move forward.And since you have several things to work on, you can generate enough will power to move in the right direction.Silence Your Inner CriticDo you remember the symptoms we talked about? They all push your body to some action.For example, weariness may push you to go and sleep. Stress, anxiety and depression can push you towards suicide. Procrastination can push you towards unhealthy or even illegal activities.But is it all automatic?No.When you start experiencing symptoms, there is a voice which whispers to you the kind of action to take. That voice advices you in line with the challenges at hand so you only experience them more and more.But this voice did not show up from nowhere. It always existed though you may not have recognized it.Your inner critic is the voice which tells you how much you’re unable to deal with the situation. How inexperienced you are for the job. How nobody appreciates the effort you put in because it is not good enough.That voice is always criticizing you whenever you have an opportunity to move forward. Source: Alex KipTo counter your inner critic, you need to feed yourself with affirmations. Find out your strengths and recite them to yourself. Make yourself know how good and able you are.Do not mind arguments going on in your mind. Just ignore whatever is against these affirmations and in due time, the arguments will reduce. Eventually, they will cease because they will have been overcome by the affirmations.This is how you train your mind. You simply feed it with the right information and it will use that to reason things out.The next time your will wants to make a decision, your new logic will be stronger, presenting your will with better reasons to disregard temporary emotions.Reduce Your To-Do ListBuilding yourself up against your inner critic is like cutting the tree down to the ground. But in order to stop it from growing and causing trouble again, you have to uproot it.The reason you are overwhelmed is because you just have too much on your plate. You either bit more than yo u could chew or someone pushed too much your way than you could handle.It might also be that the problem is laziness. Maybe you just take your sweet time to do even the smallest of tasks. As a result, other tasks come and find you still working on the first one.They join the queue. By the time it’s evening, you have so much and despite being small, they are all incomplete.Whether the tasks are small or big, that’s not the issue. The issue is that you have too much to handle. You need to reduce the items on your To-Do list.And this is not by working on them but by either canceling them or getting people to help you out.Get rid of anything you don’t have to do by yourself. And if everything is personal such that you can’t just bring in people, then get some trusted friends.This is a critical moment and you have to open yourself up a little.Openly communicate to your friends your urgent need for help.Once they are signed up, dish out those tasks like cookies. Let them help you out on as much as possible.Learn to Say “No”Those tasks may get finished only for the list to grow long again. To avoid that, learn to only take on the tasks you’re sure you can finish on time.If it’s your job, speak with your manager about this. If you feel or think that you might lose the responsibilities which give you a good income, then you have to train yourself to be more productive.But even then, it is always wise to know when you need to say “No.”There are many things requiring your attention. Some may be important while others are not. Understanding that you cannot do everything helps you realize that you have to abandon some projects.PrioritizeAfter all these, you will remain with only a few things which you need to do. These are those which you either cannot delegate or just intend to handle by yourself.At this point, you need to practice the art of prioritizing. Even if you have only three things to do but start with the task with the lowest priority, you ma y end up overwhelmed.You will later on start rushing to finish the important tasks since you’re already behind schedule.It’s advisable to start your day by working on the most important tasks. That way, even if you don’t complete the rest, you will at least have finished the most important ones.That way, potential stress is eliminated.When you notice that you’re progressing well, congratulate yourself. Celebrate yourself so that you see the rewards of doing things right.Your mind will appreciate it and help you towards more of the same victory. It will do this knowing there is a reward.CONCLUSIONWhen you deal with the overwhelming situation and stop it from recurring, you will have taken control of your life.You will be able to do more important things and your life will be more meaningful.

Future Subjunctive Tense in French Grammar

There is no future subjunctive in French. The present subjunctive is used for both present and future.  There is no future subjunctive per se. Even if the action is to happen in the future, the present subjunctive is used. However, there is a  past subjunctive. Present Subjunctive Is Used for Both Present and Future In general, the French subjunctive  mood  is used to express actions or ideas that are subjective or otherwise uncertain: will/wanting, emotion, doubt, possibility, necessity, judgment.  The key to understanding this mood is  to remember that the subjunctive subjectivity or unreality.   The subjunctive is nearly always found in dependent clauses introduced by  que  or  qui, and the subjects of the dependent and main clauses are usually different:   Je veux que tu le fasses.I want you to do it.  Ã‚  Il faut que nous partions.Its necessary that we leave. / We have to leave.Il est  possible quil arrive demain.Its possible that he will arrive tomorrow.Cest bon que tu sois prà ªt à   midi.Its good that youll be ready at noon. Verbs and expressions that  express someones will, an  order, a need, a piece of advice, or a desire require the subjunctive: aimer mieux que  to like better / to prefer thatcommander que  to order thatdemander que  to ask (someone to do somethingdà ©sirer que  to desire thatdonner lordre que  to order that Verbs and expressions of emotion or feeling, such as fear, happiness, anger, regret, surprise, or any other sentiments, require the subjunctive: adorer que  to love thataimer que  to like thatapprà ©cier que  to appreciate that Verbs and expressions of doubt, possibility, supposition, and opinion require the subjunctive: accepter que to acceptsattendre à   ce que  to expectdà ©tester que  to hate Certain  verbs and expressions take the subjunctive when they are negative or interrogatory because they express uncertainty in the speakers mind: cest que  its that/becauseconnaà ®tre (quelquun) qui  Ã‚  Ã‚  to know (someone) thatcroire que  to believe that A number of French  conjunctive phrases  require the subjunctive: à   moins que*  Ã‚  Ã‚  unlessà   supposer que  Ã‚  Ã‚  assuming thatafin que  Ã‚  Ã‚  so thatavant que*  Ã‚  Ã‚  beforeà   condition que  Ã‚  Ã‚  provided that The subjunctive is required  In a subordinate clause with the  negative pronouns  ne...personne  or  ne...rien, or the  indefinite pronouns  quelquun  or  quelque chose:   Ã‚  Je ne connais personne qui veuille maider.I dont know anyone who wants to help me.   Ã‚  ll ny a rien que nous puissions faire.Theres nothing that we can do. The subjunctive is  optional after main clauses that contain certain adjectives, such as  seul,  unique,  premier,  principal,  dernier, or any  superlative,  It depends on how concrete the speaker feels about what is being said:Hà ©là ¨ne est la seule personne qui puisse nous aider.Hà ©là ¨ne is the only person who can help us.(Hà ©là ¨ne may be the only person I think can help us, but there may be others.)Hà ©là ¨ne est la seule personne que je vois.Hà ©là ¨ne is the only person I see.(No subjunctive, because I know this for a fact - I only see Hà ©là ¨ne.) Conjugating the Subjunctive Is Relatively Straightforward To conjugate all regular verbs ending -ER, -IR, and -RE, as well as some irregular* ones, take the 3rd person plural  ils  form of the  present tense of the verb, drop the -ent  ending to find the stem, and add the subjunctive endings: Many verbs that  are irregular in the present tense are regular in the subjunctive, including all -IR verbs conjugated like partir and sortir and -RE verbs conjugated like mettre. Other irregular verbs, as well as all stem-changing verbs, have  irregular subjunctive conjugations.

All Souls Book Review Essay - 987 Words

All Souls: A Family Story From Southie By Micheal Patrick MacDonald. (Ballentine Books under The Random House Publishing Corporation, 1999, 266pp. $14.00) Michael Patrick MacDonald saw hatred animated on a Friday in the early days of October. Some people were reading the newspaper in brightly lit kitchens. Some children were coloring with brightly hued crayons. Some fathers were getting into cars in front of their beautiful homes. But there were no crayons, bright kitchens, or fathers in nice cars on Dorchester Street in Southie that day. Only the cruelest manifestation of blind hatred. Michael Patrick MacDonald was an innocent child when he stood only feet away from a black man who was having the life literally beaten from his†¦show more content†¦In a ‘He was a good man underneath all of that rage sort of fashion, he exposes Southies grave and serious problems, all the while maintaining that it was the best place in the whole world. We tend to marginalize the poor, the destitute, the food stamp and welfare recipients among us. We like to pretend that they are not there, much like the residents of Southie liked to pretend that the violence and anger and tragedy in Southie werent there. We like to try to compartmentalize this part of our own society, this very real set of people who still live in our towns. Who mourn their dead at our churches, who lower them into the ground in our cemeteries, who hand food stamps to the cashier at our grocery stores. We have all been guilty of it. How could we not be? How could we really grasp, realize, come to terms with, comprehend such an alien life? Michael Patrick MacDonald is our translator. He relays the past as Southie has written it on his heart. He hands it to us in a language we might better understand. MacDonald opens the door and invites us to sit down at his Southie dinner table. To lie on a mattress on the floor next to him and his brothers. To come to the hospita l and watch Ma MacDonald beat the daylights out of a man who didnt value her family as much as she did. To stand inside the sterile green walls at Mass Mental. To trade stories with all the Southie kids about who had a connection to Whitey Bulger. ToShow MoreRelatedA Controversial Issue Of Pi1093 Words   |  5 PagesA controversial issue for this book would definitely be the religion. Pi’s mother and father found it totally absurd to have more than one religion, and contradicting ones at that. As did the pandit, the priest, and the imam. In the book, there is a three-page long argument between the priest, the imam, the pandit, and Pi’s parents all claiming the other is mistaken and that Pi is a Muslim or a Hindu or a Christian. 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I’M Nobody, Who Are You †Emily Dickinson Free Essays

â€Å"I’m Nobody! Who are you? † This poem opens with a literally impossible declaration—that the speaker is â€Å"Nobody. † This nobody-ness, however, quickly comes to mean that she is outside of the public sphere; perhaps, here Dickinson is touching on her own failure to become a published poet, and thus the fact that to most of society, she is â€Å"Nobody. † The speaker does not seem bitter about this—instead she asks the reader, playfully, â€Å"Who are you? ,† and offers us a chance to be in cahoots with her (â€Å"Are you – Nobody – Too? ). We will write a custom essay sample on I’M Nobody, Who Are You – Emily Dickinson or any similar topic only for you Order Now In the next line, she assumes that the answer to this question is yes, and so unites herself with the reader (â€Å"Then there’s a pair of us! †), and her use of exclamation points shows that she is very happy to be a part of this failed couple. Dickinson then shows how oppressive the crowd of somebodies can be, encouraging the reader to keep this a secret (â€Å"Don’t tell! †) because otherwise â€Å"they’d advertise,† and the speaker and her reader would lose their ability to stand apart from the crowd. It then becomes abundantly clear that it is not only preferable to be a â€Å"Nobody,† it is â€Å"dreary† to be a â€Å"Somebody. † These somebodies, these public figures who are so unlike Dickinson, are next compared to frogs, rather pitifully, we can imagine, croaking away to the â€Å"admiring Bog. † These public figures do not even attempt to say anything of importance—all they do is â€Å"tell one’s name,† that is, their own name, over and over, in an attempt to make themselves seem important. This â€Å"admiring Bog† represents those people who allow the public figures to think they are important, the general masses who lift them up. These masses are not even granted the respect of having a sentient being to represent them. Instead, they are something into which one sinks, which takes all individuality away, and has no opinion to speak of, and certainly not one to be respected. How to cite I’M Nobody, Who Are You – Emily Dickinson, Essay examples

My Health Record Online Digital Health System †Free Samples

Question: Discuss about the My Health Record Online Digital Health System. Answer: My Health Record System My health record is an online digital health system designed and developed by the government of Australia. It comprises of brief information on health-related issues for different people, such as what causes different diseases, the kind of treatment they receive for different diseases. It also includes the types of medicine recommended and how to prevent re-occurrence of such diseases to the same patient and to others. My health record is as a renovation of Personally Controlled Electronic Health Record (PCEHR) It is designed to be specifically managed by personal doctors, dispensaries for locals or big in hospitals and other healthcare providers with respect to their means of control Information Resources Management Association. (2015).This is to say that everyone can be registered to my health record system unless they do not want to. The acts of this system regulate how, when and who can access the information contained in it. It is a breach of the system for unauthorized persons to deduce, use and divulge any information in my health record system according to my health act 2012. Benefits of the System In the modern world, technology has taken health systems to whole new level. This has facilitated a quick, effective, reliable and improved mode of delivering health services (Lubotsky Becker, 2010). My health record system has contributed through the following ways: With my health records, it is possible to spend more time with serious patients who need more attention and care because less time is spent on searching for clinical advice and investigating on how to handle other related conditions. This is also possible because you can get the history of the patients health in the system if he or she is a registered member. The system will also enhance a more efficiency in exchange of information between various healthcare providers. This is more useful in situations that do not necessarily need close or physical examination (Lazakidou, (Ed.), 2011). Also information on dates and tome of patients being discharged, others booking for appointment and check-up sessions and how to aid an adverse reaction to treatment. This is possible because data can be retrieved anytime and cannot be lost or altered with by authorized persons. The information contained in my health record system is obtained for free and hence it is highly affordable for anyone. This reduces the rates of premature deaths out of ignorance on how to handle casualties or other health complications that need quick actions with an immediate effect like breeding, and heart attacks. It will also help people residing from areas far from health centers with poor road networks or other quicker means of transport (McGinnis, Stuckhardt, Saunders, Smith, (Eds.), 2013). My health care system is legalized and passed by Australian government together with other health organizations to provide health services. It is therefore safe and advisable to learn and relay the information gathered from the system to administer health services with confidence. Most of the information contained in the system is a record of real - life health experience of individuals, which is then researched and confirmed to be true before it is accepted in the system for use by others. Capabilities of the System Great interest and acknowledgment of developing system that keeps health records electronically have caused a decrease in the use of paperwork. The technology of information together with healthcare departments worldwide worked together and came up with a health system that will address the global health issues differently (Levy, 2014). The system is capable of securing the patients' information such as laboratory results and other personal detailed data. It enhances the clinical flow of information by regulating and restricting authorized users The combination of key technologies through eHealth Foundation encrypts information to provide a safe method of gathering health information. A secure message delivery system is a key aspect of the system that ensures free and private exchange of information and is supported by great industrial standards The system also enhances National infrastructure. This is a national approach that supports territory reforms and requires digital health infrastructure that enables a clear insight that improves health in the future. When implementing and adopting the digital healthcare systems relevant foundations are enhanced. Through e-Health platforms, clinical validation stimulates healthcare systems enhancing safe working practices (Vincent et al 2016). E-Medication is another feature that is cost-effective and guides prescription and administering of medicine ensuring good health outcomes. This system has been set in a way that those individuals that are registered and do not require its services anymore can have an option to sign out the registration. References Information Resources Management Association. (2015).E-Health and Telemedicine: Concepts, Methodologies, Tools, and Applications. IGI Global. Lazakidou, A. (Ed.). (2011).Quality Assurance in Healthcare Service Delivery, Nursing and Personalized Medicine: Technologies and Processes: Technologies and Processes. IGI Global. Levy, H. M. (2014).Capability-based computer systems. Digital Press. Lubotsky, L. B., Becker, M. A. (2010). A public health perspective of womens mental health. McGinnis, J. M., Stuckhardt, L., Saunders, R., Smith, M. (Eds.). (2013).Best care at lower cost: the path to continuously learning health care in America. National Academies Press. Vincent, J. L., Abraham, E., Kochanek, P., Moore, F. A., Fink, M. P. (2016).Textbook of Critical Care E-Book. Elsevier Health Sciences.

The Pearl Essays (1098 words) - The Pearl, Kino, Poetry, Pearl

The Pearl Kino, Juana and their infant son Coyotito live in a modest brush house by the sea. One morning, calamity visits their home when Coyotito is bitten by a scorpion. With hopes of protecting their son, Kino and Juana rush him to the doctor's clinic in town. However, when they arrive at the gate, they are turned away because they are poor natives and not paying customers. Later that same morning, Kino and Juana take their family canoe out to the estuary to go diving for pearls. Juana makes a poultice for Coyotito's wound while Kino canvases the sea bottom. Juana's prayers for a large pearl are answered when Kino surfaces with the largest pearl either of them has ever seen. Kino lets out a triumphant yell at his good fortune, prompting the surrounding boats to circle in and examine the treasure. In the afternoon, the whole neighborhood gathers at Kino's brush house to celebrate his find. Kino names a list of things that he will secure for his family with his newfound wealth, including a church wedding and an education for his son. The neighbors marvel at Kino's boldness, wondering if he is wise or foolish to hold such ambitions. Toward evening, the local priest visits Kino, to bless him on his new fortune, and to remind him of his place within the church. Shortly after, the doctor arrives, explaining that he was out in the morning but has come now to cure Coyotito. He administers a powdered capsule and promises to return in an hour. In this period, Coyotito grows violently ill and Kino decides to bury the pearl under the floor in a corner of the brush house. After the doctor returns, he feeds Coyotito a potion to quiet the baby's spasms. When the doctor inquires about payment, Kino explains the story of the pearl to him. This intrigues the doctor greatly, and Kino is left with an uneasy feeling. Before going to bed, Kino re-buries the pearl beneath his sleeping mat. That night, he is wakened by an intruder, who is digging a hole in the corner in hopes of finding the pearl. A violent struggle ensues, and Kino is left bloodied in his efforts to chase away the criminal. Juana, terribly upset by this turn of events, proposes to abandon the pearl, which she considers an agent of evil. The next morning, Kino and Juana make their way to town in an attempt to sell the pearl. Juan Tomas, Kino's brother, advises Kino to be wary of cheats. Each dealer Kino visits makes an absurdly low bid on the pearl. Kino indignantly refuses to accept their offers, resolving instead to take his pearl to the capital. That evening, as they prepare to leave, Juan Tomas cautions his brother against being overly proud, and Juana reiterates her wish to be rid of the pearl. Kino silences her, explaining that he is a man and will take care of things. In the middle of the night, Juana steals away with the pearl. Kino wakes as she leaves and pursues her, apprehending her only at the shore. Just as she is poised to throw the pearl into the sea, he tackles her, takes the pearl back, and beats her violently, leaving her in a crumpled heap on the beach. As he returns to the brush house, he is confronted by a group of hostile men who try to take the pearl from him. He fights them off, killing one and causing the rest to flee, but loses control of the pearl in the process. As Juana ascends from the shore to the brush house, she finds the pearl lying in the path. Just beyond, she sees Kino on the ground, next to the dead man. He bemoans the loss of the pearl, which she presents to him. He explains that he had no intention to kill, but she insists that he will be labeled a murderer regardless. They resolve to flee at once, and Kino rushes back to the shore to prepare the canoe, while Juana returns home to gather Coyotito and their belongings. Kino arrives at the shore only to find his canoe destroyed by vandals. When he ascends the hill, he sees a fire blazing, and

Revenue Recognition The WritePass Journal

Revenue Recognition Generally Accepted Accounting Principles: Revenue Recognition ). While the new revenue recognition model provides a detailed basis for accounting standards and has defined a wide scope for the proper classification of transactions, the feedback received has suggested that the model is too complex and confusing for immediate implementation as it is inconsistent with previous frameworks and would require practice and getting used to in implementation. Moreover, other users have also mentioned that the model requires additional information regarding the meaning of certain rules and terms in order to be accurately implemented and used within all firms such as the meaning of â€Å"collaborator†. It is suggested that the Board review the new accounting principles that it has introduced and provide detailed explanations and examples of how to appropriately apply the standards to financial statements. It is also highly suggested that in order to improve the applicability of the new revenue recognition model, the inconsistencies between the previous model and the new model must be removed, the terms used in the new model must be clarified, and the suggested additions may be made. References Cairns, D. (2006). â€Å"The use of fair value in IFRS.†Ã‚  Accounting in Europe. Vol.  3(1) pp. 5-22. Hodgdon, C., Tondkar, R. H., Adhikari, A., Harless, D. W. (2009). â€Å"Compliance with International Financial Reporting Standards and auditor choice: New evidence on the importance of the statutory audit.†Ã‚  The International Journal of Accounting. Vol.44(1) pp.33-55. Olsen, L., Weirich, T. R. (2010). â€Å"New revenue†recognition model.†Ã‚  Journal of Corporate Accounting Finance. Vol.22(1) pp. 55-61. Schipper, K. A., Schrand, C. M., Shevlin, T., Wilks, T. J. (2009). â€Å"Reconsidering revenue recognition.†Ã‚  Accounting Horizons. Vol. 23(1) pp. 55-68. Wagenhofer, A. (2013).  The Role of Revenue Recognition in Performance Reporting. Working Paper, University of Graz. Wà ¼stemann, J., Kierzek, S. (2005). â€Å"Revenue recognition under IFRS revisited: conceptual models, current proposals and practical consequences.† Accounting in Europe. Vol. 2(1) pp.69-106.

The Renaissance Time Period Essay Example | Topics and Well Written Essays - 2000 words

The Renaissance Time Period - Essay Example As such, the Renaissance was reflected in many forms. It was played out in art, architecture, design, literature, as well as contributed a vast amount of influence in politics and economics. In this paper, the fundamental features of the Renaissance will be explored – from its beginnings in Italy to its expansion to the rest of Europe. Also, an examination of life during the Renaissance will feature economic context of the period, its influence in religion and philosophy, as well as its role of science and medicine. Lastly, the Renaissance life will also be tackled by featuring the food, drinks, and architecture during the period. A. Renaissance and its Origin The word Renaissance means rebirth and with this comes the renewed interest in ancient ideals of Greek and Roman language and culture. As a cultural movement, the Renaissance traces back its origin in Italy where city-states were flourishing amidst the backdrop of wars and conflict with their enemies (Britannica Educatio nal Publishing, 2011). In particular, the northern Italian city-states had, through the middle ages, established close trading links with the Eastern Mediterranean. With it came the renewed cultural ties between Europe and the East, which created a tremendous interest in antiquity and had, since then, culminated in Italy in the 1400s and later spread to other European countries. Moreover, during this period, Italian cities adopted an intellectual movement known as humanism. For Italian humanists, what is fundamental is the sight of man, which is considered to be a universal genius, who could take responsibility for themselves. Another feature of the early Renaissance is the emphasis of learning classical literature of the ancient Greeks and Romans whose areas of studies included literature, politics, history, and language, which are now collectively known as the humanities. With the fruition of humanism in northern Italy during the 13th and 14th century, the Renaissance brought with it a new attitude to life and a new outlook in learning and ideas, which later spread through continental Europe and England. B. Economy and trade During the Renaissance period, Italy was composed of city-states that were strategically located to profit from the renewed trade that was developing because of the Crusades. According to Romano (2010), northern Italian city-states, particularly the Republic of Genoa, the Republic of Florence, the Duchy of Milan, the Venetian Republic, the Papal States, and the Kingdom of Naples, became the intermediary areas in Europe’s flourishing trade with the East. As a result, these independent northern city-states became the thriving capital for international transactions and trade. The renaissance economy of Italy in particular depended on the production of wool and silk as well as banking transactions and international trade (Salisbury & Sherman, 2007). Because of the flourishing economy brought about by the expanding trade between Europe and the East, merchants were able to their affluence to gain economic and political control. They were able to give out loans to Kings and maintain various businesses ventures that were vital for economic growth all over Europe. Aside from these, merchants became the leading patrons of the arts as they used their money to sponsor creative undertaking of artists during the Renaissance period (Kelmer and Woods, 1999). For instance, wealthy traders such as

Female Songwriters Essay Example | Topics and Well Written Essays - 500 words

Female Songwriters - Essay Example With more efforts being instituted in closely examining the appeal of a particular musical composition through time, music enthusiasts aver that female songwriters of contemporary times use language in a distinctly different way from the majority of male songwriters. It is therefore the aim of the current essay to compare the song lyrics written by two female songwriters: Jewel and Sheryl Crow, with the songs written by two male songwriters: John Mayer and Jason Mraz. The songs written by the female songwriters, â€Å"Who Will Save Your Soul† by Jewel and â€Å"Strong Enough† by Sheryl Crow sends the message that the subject of salvation presented for reflection by being more aware of one’s personal actions and behavior. On the other hand, Sheryl Crow’s â€Å"Strong Enough† is directed to men being asked the question of being strong enough for women in times of struggles, challenges, and difficulties. There are similarities in mentioning religion an d reference to God but at the same time, there is a message that focuses on the eminent strength of women when times indicate the need to rely on their own. The songs written by male songwriters, â€Å"Your Body is a Wonderland† by John Mayer and â€Å"I Won’t Give Up† by Jason Mraz focus on the message being given or relayed to women.

Factors Influencing Stock Prices in Indonesia Exchange

Factors Influencing Stock Prices in Indonesia Exchange There are many definitions of stock with different point of view. Bernstein states that stocks are partial ownership of companys assets which are subordinated with debt (Bernstein, R. 2002). Stock is a device that implies an ownership position in a company and signifies a claim on its proportional share in companys assets and profits. Only certain companies have stock called corporation. Limited partnership and Sole proprietorship do not issue stock (WebFinance, Inc., 2010). According to Vernimmen et al. (Vernimmen et al. 2009, p. 527), A stock or a share is a security that is not redeemed. The investment can only be recognized through disposal and whose revenue flows is uncertain. Corporations need financial resources and this required resources usually come from ordinary or common stocks, preferred stocks, and medium to long term lenders or debenture holders. Common stock is everlasting capital for the corporation. The owners who invest in this type of stock are called ordinary or common shareholders and any profit retained after paying debenture interest will be distribute to them called dividend. Preferred stocks are issued to public in order to acquire capital and these stocks have rights to specified yearly fixed percentage dividend on the paid-up capital. Preferred stocks are less common in stock market (Anandarajah, Aseervatham, and Reid 2005). The following are the characteristics of common stock and preferred stocks: (Scott et al. 1999). Preferred Stock A hybrid security which has similar characteristics to bonds and common stocks. It is similar to bonds in its dividends which are limited in amount. It is similar to common stocks in that it has no fixed maturity date, dividends are not deductible in terms of tax purposes, and non-payment of dividends will not cause bankruptcy. Common Stock. Common stock shares imply an ownership in corporation which does not have maturity date and exists as long as the firm does. Stock exchange is an organization which helps connection between potential buyers and potential sellers of stocks. Stock exchange can be physical place, network of computers, system of telephone link, etc. A stock market is a place where stocks can be purchased and sold (Samuel, J.M., Wilkes, F.M., and Brayshaw, R.E. 1996). Most of countries around the world have stock exchanges. The number of stock exchanges around the world is growing significantly. Based on continents, stock exchanges around the world can be divided into 6: Africa, Asia, Europe, Middle East, North America, and South America. Indonesia Stock Exchange called IDX is one of the stock exchanges in Asia (Stock Exchanges Worldwide Links, n.d., 2010). Principally, there are 2 advantages are obtained by investor who buying or having stocks in stock exchanges (Indonesia Stock Exchange, 2007): Dividend. Dividend is sharing profit awarded by a company because of holding stock for a relatively long period until ownership term is in period where an investor is recognized as shareholder who has right to get dividend. Capital Gain. Capital gain is the difference between selling price and buying price acquired from trading activities. Those advantages cause investors choose stocks as an attractive alternative than put their money in fixed deposits that have low interest rates (Chuan, 2004). Basically, investors who buying or having stocks will also have some risks (Indonesia Stock Exchange, 2007): Capital Loss. Capital loss is a situation when an investor is selling the stocks at lower price than the buying price. Liquidity Risk. A company with shares held by public is declared for its bankruptcy by the Court. Shareholders or investors will have the last priority of claiming their rights after all liabilities are fulfilled. The rest of the companys wealth will be shared proportionally to the shareholders. Shareholders will not obtain anything from the liquidation if there is no rest left. The overall price movements of common stocks of corporations traded on stock markets are called stock market price indexes. Corporate stockholders will get benefit from company through dividends and have right to vote in company. Investors capital gains and losses will affected by increasing and falling of stock prices (Frumkin 2000). Norman (Frumkin, N. 2000, p. 277) states that The dividend yield, which is the rate of return on a share company stock, is a companys annual cash dividend percentage of companys annual stock price. Nowadays, the price of stocks in Indonesia Stock Exchange is changing rapidly. The average price of stocks in Indonesia Stock Exchange increased significantly (approximately 20%) during 2006. The average price decreased approximately 19% during January 2008 and declined again approximately 16% during March 2008. The significant change of stock prices in Indonesia Stock Exchange is caused by external environmental factors or macroeconomics factors (Frensidy, B. 2008). There are many external environmental factors that impact financial system including stocks. Those factors are economic growth, inflation, exchange rates, interest rates, etc (Evans, et al. 2000). Many investors lost their money because of the significant change of stock prices in Indonesia Stock Exchange. Investors lost their capital because they sell their stocks at lower price than the buying price (Indonesia Stock Exchange, 2007). By analyzing external environmental factors, investors can predict the future price of stocks more accurately. To minimize the risk or capital loss, investors have to understand external environmental factors influencing stock prices in order to make correct decision whether they have to buy, sell, or hold the shares. The research will identify external environmental factors which have significant influence on stock prices and explain the relationship between those factors and stock prices in order to accomplish that goal. Objectives, Research Question, and Research Hypotheses The objectives of the research are: To identify the variables of external environmental factors influencing the stock prices in Indonesia Stock Exchange. To analyze the influence of external environmental factors on stock prices in Indonesia Stock Exchange. Based on the objectives, the research questions are as follow: Which external environmental factors influence stock prices in Indonesia Stock Exchange? How does external environmental factors influence on stock prices in Indonesia Stock Exchange? Based on the research question, the research hypotheses are built up: External environmental factors encourage the change of stock prices in Indonesia Stock Exchange. External environmental factor have strong correlation with stock prices in Indonesia Stock Exchange. Scope This research study will focus on external environmental factors influencing the stock prices in Indonesia stock exchange, which will be explained more briefly in chapter 2 literature reviews. Some external environmental factors influencing stock prices are applied to explain the correlation between external environmental factors and stock prices in Indonesia Stock Exchange. The analysis of what kind of relationship (positive or negative) between external environmental factors and stock prices will also be clarified in this research. The literature reviews will consist of some external environmental factors which influence stock prices especially in Indonesia Stock Exchange. A survey will be performed in order to collect data about the change of several external factors and stock prices in Indonesia Stock Exchange. Based on collected data, a model will be offered to analyze the relationship between stock prices and external environmental factors. Lastly, this research will be limited and focused on the following: The research is only focused on JSX composite index or (Indonesian: Indeks Harga Saham Gabungan, IHSG). This research is only focused on external environmental factors which influence stock prices. The data collection period of this research is 5 years from 2005 to 2009. Chapter 2 LITERATURE REVIEW Literature Review of External Environmental Factors and Stock Prices in Indonesia Stock Exchange This chapter will summarize external environmental factors which influence stock prices. Factors and frameworks will be appeared by joining and integrating adopted theories. Lastly, the major external environmental factors influencing stock prices in Indonesia Stock Exchange will be provided in this chapter. Categories of Stocks and Types of Orders In the market, there are various names of stocks that refer to different categories of stocks (Chuan, 2004): Figure 2.1 Categories of Stocks Source: adapted from Chuan, 2004 Blue Chips refer to stocks that are steady with good fundamentals. Undervalued Stocks refer to stocks which are well-established by companies with solid balance sheet. Such stocks are generally unnoticed by investors, traded with small volume, and receive little reporting from media and analysts or experts. Growth Stocks refer to stocks which are established by recognized companies that have high growth sectors and their business are predicted to enlarge quickly over the coming years. Such stocks are generally traded with higher PER (Price Earnings Ratio) even though they lack of history of strong earnings base. While companies show continual rise in their earnings, the price of these stocks will increase. Penny Stocks refer to stocks that have small capitalization and traded bellow one dollar. Small-Cap Stocks refer to stocks that have very few issued shares and traded in low price at stock market. Such stocks are usually not bought by foreign institutions and funds. Small-Cap Stocks have some risks as follow: Smaller companies tend to less flexible to major crisis because they are less diversified and more prone to market shocks and monetary crisis. Trading volumes are low and less liquid. Therefore, investors may not find the buyers in stock market when they want to sell the stocks. Small-Cap Stocks are more sensitive to news and rumors. There are 3 types of orders used in the buying and selling of stocks as follow (Chuan, 2004): Market Order Market order is an order to buy or sell stocks instantly at the best current price. For example, investors place market order to sell AAA shares. It means investors buy AAA shares at current offering price. Limit Order Investors which place limit order will set a certain suitable price to buy or sell a particular stock. Stop Order Stop order is an order to buy or sell the stocks that are traded at certain price level immediately. This certain price level is known as stop price. For instance, investors place stop order to buy AAA shares at $5.00. If AAA shares begin to trade at $5.00, the order becomes market order and broker will buy shares at the best current price. In terms of selling stop order, the order is placed bellow current price to help investors decrease their possible losses and keep their profit. Timing and Stock Investment Investor would discourage when the price of their stocks decreased significantly after they had bought the stocks or to be trapped in market crash after they had invested their money in the stock market. Good timing is the most crucial factor for investors in stock market. Even the best stocks will become useless investments if investors buy them at wrong time (George, A. 2008). The major problem is good timing cannot be determined easily because stock market is influenced by large amount of factors and events that are beyond prediction. Investors have to understand factors influencing stock price and involve some insight to determine good timing whether they have to buy, sell, or hold their stocks (Chuan, 2004). In stock investment, price is mechanism by which practically all goods and services are exchanged. In this case, price has strong power or price is a king because price will determine whether stocks become excessively expensive or inexpensive (George, A 2008). The price of stocks tends to increase when there are more buyers than sellers in stock market. Buyers are tense in stock market based on expectation of future price increase. There are some signals which make buyers believe that future stock price will increase (Chuan, 2004): Positive indication from market trend. Rumors in stock market. Information concerning better earnings prospects for company. External Environmental Factors Influencing Stock Prices There are several external environmental factors influencing the uptrend or downtrend of stock prices in stock market. Those external environmental factors are: Worldwide stock market. Local economy. Political factor. Inflation. Foreign Exchange Rates. Interest Rates. Commodity Prices. Worldwide Stock Market The performance of world economy will have effect on local economy or Indonesian economy due to globalization. The worldwide economy especially US, China, Japan, and Singapore economy will help to enhance Indonesian economy because those countries are major trading partners of Indonesia (CIA, 2010). Therefore, positive economic performance of those countries will give favorable result for Indonesian Stock Market (Chuan, 2004).Indonesian stock prices get significant impact from US, China, Japan, and Singapore stock prices. JCX composite index or IHSG obtain significant influence from worldwide stock market especially DJIA (Dow Jones Industrial Average), Nikkei 225, Hang Seng and Strait Times. Investors always look at those stocks before and during trading stocks in Indonesia Stock Exchange. Export partners and import partners of Indonesia will affect local economy and price of JSX composite index in Indonesian Stock Exchange (Samsul, M. 2006). For example, JCX composite index in 7 May 2010 decreased significantly (71.29 points or 2.54%) because of the decrease of worldwide stock market. Dow Jones Industrial Average decreased 407.05 points or 3.75%, Nikkei decreased 331.1 points or 3.1%, Hang Seng decreased 213.12 points or 1.06%, and Strait Times decreased 6.7 points or 0.59%. The decrease of worldwide stock market had significant influence on Indonesian stock prices (Meryani, A. 2010). Figure 2.2 Indonesia Export Partners 2009 Source: adapted from CIA, 2010 Figure 2.3 Indonesia Import Partners 2009 Source: adapted from CIA, 2010 Local Economy GDP or Gross Domestic Product is regularly used as an indicator of economic performance of the country. Brux (Brux, J.M. 2008, p. 351) states that Gross Domestic Product (GDP) is defined as the market value of all final goods and services produced in the economy in a given time period (usually one year). There are two different types of GDP as follow: Nominal GDP. Nominal GDP is GDP that determined at current prices or actual prices of a particular year. Real GDP. Real GDP is GDP which adjusted for inflation. GDP is generally used as indicator of standards of living in a country. If GDP is high, there is an assumption that economy in a country is doing well and this country has high standards of living. When GDP is growing, there is an assumption that economic activity in a country and standards of living are rising (Brux, 2008). When GDP of a country shows positive growth, it is usually followed by positive trend in stock market. Therefore, GDP is often used by investors to estimate turning points of their stocks and to time their investment.GDP growth and other economic data are published in newspaper. When investors read this information, investor should know how to use the information wisely. For instance, when banking sector is predicted to perform badly, investors should leave out banking stocks in their stock investment. This information will help investors to choose their stocks and make correct decision whether they have to buy, sell, or hold the shares. When economic condition in a country is good, stock prices generally tend to increase. However, investors have to be careful because it is also a sign that good days are numbered. Economy which is growing too fast will be difficult to maintain its growing or to be sustained (Chuan, 2004). Political Factor Stock price can be affected by regional, national, and international political situation. Political crisis usually will have negative impact in stock market trends. Stock prices generally will drop significantly because of political crisis (Chuan, 2004). Inflation According to Hook (Hook, J.A. 2003, p. 110), Inflation is A condition in which the economy experiences a continuous increase in the average price level of all goods and services. The price of certain goods and services may decrease but the average price of all goods and services increases. Financial service industries and banking are influenced significantly by inflation (Hook, J.A. 2003). Inflation can also be defined as a state that has continuous increase in prices of goods and services. Inflation will increase the cost of doing business because price of goods and services increases significantly. Therefore, it is expensive to do business during inflation and profit margins of business will decrease due to higher price of raw materials, rentals, etc (Chuan, 2004). Potential earnings of companies will determine the demand for a stock. Therefore, potential earnings of many companies generally decreased during inflation period due to the lower demand for stock. The lower demand for a stock will cause the decrease of stock prices in stock market. Investors should look at the growing of inflation and sell their stocks before inflation happens. Investors can use commodity prices and interest rates as indicators of inflation trend. When commodity prices and interest rates are rising, those factors indicate the coming of inflation. Investors should have carefulness to enter the stock market (Chuan, 2004). Foreign Exchange Rates Taylor, F. states that foreign exchange rate is the ratio which is used to convert one currency into another. Most countries around the world have their own currencies released by certain official agency which is called monetary authority or central bank. Currency is medium of exchange which is used to buy goods and services (Taylor, F. 2003). According to Philip (Philip et al. 2000), there are types of exchange rate system as follow: Flexible Exchange Rates. Flexible exchange rates system is an exchange rate system which the value of currency is permitted to react to market forces without any intervention by central banks or monetary authority. Fixed Exchange Rates. Fixed exchange rates system is an exchange rate system which associate countries agree to fix the value and changes only occur under certain particular condition. This exchange rate system can reduce uncertainty from international trade and support long term investment in international trade. Managed Floating. Managed floating is an exchange rate system which currency is allowed to respond to market changes but central banks are allowed to interfere in order to protect the value of the currency especially when central banks believe that depreciation is only temporary. Stock-Oriented models of exchange rates which also known as portfolio-balance approaches view exchange rates as equating demand and supply for certain assets especially stocks and bonds. Financial assets are valued by present values of future cash flows, expectations of relative currency values have significant role in price movements especially for internationally held financial assets. Therefore, stock prices are influenced by exchange rates movement (Ajayi and Mougoue, 1996). JCX Index or IHSG gets significant influence from the fluctuation of USD/IDR exchange rate. USD/IDR indicates how many IDR (Indonesia currency) per US dollar. The decrease of IDR currency in term of US dollar is generally followed by the decrease of several Indonesia stock prices such as Telkom, ASTRA International, Bakrie Telecom, Kalbe Farma, etc (Sihombing,G. 2008). Figure 2.4 shows that the fluctuation of USD/IDR exchange rate is very high. Therefore, Indonesian investors should look at USD/IDR exchange rate as consideration in trading stocks (Yahoo, 2010). Figure 2.4 USD/IDR Exchange Rates from 2005 to 2010 Source: Yahoo, 2010 Interest Rates Frumkin (Frumkin, N. 2000, p. 190) states that Interest is the cost of borrowing money, and interest rates are the price of money. Interest rates which refer to yields are the annualized percentage that interest is of the principal of the loan. Interest rate is a good indicator of inflation trends because of its role as regulatory device to monitor the inflation trends. If interest rate increases, the cost of borrowing money will become higher and more expensive. Investing and developing business will be more expensive. Therefore, the economic growth is decrease and the inflation is under control. Besides as an indicator of inflation trends, interest rates also affect stock market and have significant influence in stock prices. When interest rate in a country is low that indicates stable or low inflation rates, stock market generally shows its positive trends and has tendency to be more active. Many investors prefer to put their money on other investments rather than put their money in bank deposits due to lower fixed interest rate. Investors will obtain lower return from bank deposits than return which comes from other investments especially stocks or shares. In addition, the cost of borrowing money becomes cheaper and this makes investors advance their additional borrowing for investment. Therefore, low interest rate will give positive impact to stock market in terms of rising stock prices. Investors have to be more careful when there is news about increasing interest rates. Investors should look at the change of interest rates regularly because of the impact of interest rates on their stock prices (Chuan, 2004). Increasing interest rates will give a negative effect on many companies which have large debts or loans because of the rising of cost of borrowing. The profit of the companies and ability to grow will decrease. When the profit of companies decrease, stock prices generally becomes less attractive and their stock prices decrease. When interest rates become high, investors usually react in two possible outcomes as follow (Mladjenovic, P. 2009): Investors may sell some of their stocks to pay their interest loans or debts. If many investors sell their stock, it will give negative effect on stock prices. Stock prices tend to decrease because there are more sellers than buyers in stock market. Higher interest rates may cause investors swap change their investment from stocks to bonds or bank deposits which offer higher return. In Indonesia, interest rate decisions are decided by Central Bank of Republic of Indonesia. Indonesia interest rates dropped significantly over the years that can be seen in figure 2.5. The decrease of interest rates will attract more investors to invest their money on stock market (Trading Economics, 2010). Figure 2.5 Indonesia Interest Rates from 2006 to 2010 Indonesia Interest Rate Source: Trading Economics, 2010 Commodity Prices Basic commodities which are required in the production process of most goods and services are good indicators of inflation trends. Those commodities are oil, rubber, steel, etc. When the prices of those commodities increase, the cost of goods and services will also increase. Therefore, when the prices of most commodities increase, it may be an indication of inflation. Investors should have carefulness to enter the stock market. Besides as an indicator of inflation trends, commodity prices especially oil prices also affect stock market and have significant influence in stock prices (Chuan, 2004). Higher oil prices will have significant impact on stock market returns especially the aggregate effect of stock prices. Higher oil prices may cause the rising of production cost which will give great forces on industry equity returns. In oil exporting countries, higher oil prices will increase profits from oil, gas, coal, and vary resources industries. Higher oil prices may cause the rising of stock prices especially for oil exporting countries which depends on relative significance of the industries (Chen, A. H. 2008). JCX composite index or IHSG gets significant influence from the fluctuation of oil prices. For instance, the price of oil in early 2008 increased significantly to US$ 147 per barrel and then decreased drastically to US$ 36 per barrel. The price of JCX composite index followed the fluctuation of oil prices. In the early 2008, JCX composite index increased to IDR 2800. At the end of this year, JCX composite index decreased to IDR 1100 (more than 100%) because of the decrease of oil prices. Indonesian stock prices generally follow the fluctuation of oil prices. When the oil prices decrease, stock prices usually also decrease and otherwise. Therefore, Indonesian investors should look at the movement of oil prices as consideration in trading stocks (Sidarta, W. 2010). Research Framework Stock price in Indonesia Stock Exchange is the main axis in the research framework. The potential external environmental factors which influence stock price are: Economic factors. Economic factors consist of worldwide stock market (DJIA, Hang Seng, Nikkei, and Strait Times), local economy (GDP), inflation, interest rates, exchange rates (USD/IDR exchange rates), and commodities prices (oil price). Interest rates and commodities prices have correlation with inflation because the movements of those factors are indicator of inflation trends. Political factors. Stock price can be affected by regional, national, and international political situation such as political crisis. All of those potential factors will become consideration factors for Indonesian investors in order to make correct decision whether they have to buy, sell, or hold their stocks. The research framework can be seen in figure 2.6. Figure 2.6 Research Framework POLITICAL FACTOR ECONOMIC FACTORS STOCK PRICE (JCX Composite Index or IHSG) INTEREST RATES INFLATION OIL PRICES EXCHANGE RATES (USD/IDR) LOCAL ECONOMY (GDP) WORLDWIDE STOCK MARKET (DJIA, NIKKEI, HANG SENG, STRAIT TIMES) Source: The Researcher Summary The research topic in this study is An Empirical Study of Factors Influencing Stock Prices in Indonesia Stock Exchange. The report consists of introduction, literature review, and reference. Chapter 1 introduction identifies background of the research, objectives of the research, research question, research hypotheses, and scopes. Chapter 2 literature review provides knowledge and theories that are related to research topic. Summary and explanation of external environmental factors which influence stock prices will be provided in this chapter. At the end of this chapter, the author provides research framework in this report. Factors and frameworks will be appeared by joining and integrating adopted theories. Lastly, references show the sources of all information used in this research. Factors Influencing Stock Prices in Indonesia Exchange Factors Influencing Stock Prices in Indonesia Exchange There are many definitions of stock with different point of view. Bernstein states that stocks are partial ownership of companys assets which are subordinated with debt (Bernstein, R. 2002). Stock is a device that implies an ownership position in a company and signifies a claim on its proportional share in companys assets and profits. Only certain companies have stock called corporation. Limited partnership and Sole proprietorship do not issue stock (WebFinance, Inc., 2010). According to Vernimmen et al. (Vernimmen et al. 2009, p. 527), A stock or a share is a security that is not redeemed. The investment can only be recognized through disposal and whose revenue flows is uncertain. Corporations need financial resources and this required resources usually come from ordinary or common stocks, preferred stocks, and medium to long term lenders or debenture holders. Common stock is everlasting capital for the corporation. The owners who invest in this type of stock are called ordinary or common shareholders and any profit retained after paying debenture interest will be distribute to them called dividend. Preferred stocks are issued to public in order to acquire capital and these stocks have rights to specified yearly fixed percentage dividend on the paid-up capital. Preferred stocks are less common in stock market (Anandarajah, Aseervatham, and Reid 2005). The following are the characteristics of common stock and preferred stocks: (Scott et al. 1999). Preferred Stock A hybrid security which has similar characteristics to bonds and common stocks. It is similar to bonds in its dividends which are limited in amount. It is similar to common stocks in that it has no fixed maturity date, dividends are not deductible in terms of tax purposes, and non-payment of dividends will not cause bankruptcy. Common Stock. Common stock shares imply an ownership in corporation which does not have maturity date and exists as long as the firm does. Stock exchange is an organization which helps connection between potential buyers and potential sellers of stocks. Stock exchange can be physical place, network of computers, system of telephone link, etc. A stock market is a place where stocks can be purchased and sold (Samuel, J.M., Wilkes, F.M., and Brayshaw, R.E. 1996). Most of countries around the world have stock exchanges. The number of stock exchanges around the world is growing significantly. Based on continents, stock exchanges around the world can be divided into 6: Africa, Asia, Europe, Middle East, North America, and South America. Indonesia Stock Exchange called IDX is one of the stock exchanges in Asia (Stock Exchanges Worldwide Links, n.d., 2010). Principally, there are 2 advantages are obtained by investor who buying or having stocks in stock exchanges (Indonesia Stock Exchange, 2007): Dividend. Dividend is sharing profit awarded by a company because of holding stock for a relatively long period until ownership term is in period where an investor is recognized as shareholder who has right to get dividend. Capital Gain. Capital gain is the difference between selling price and buying price acquired from trading activities. Those advantages cause investors choose stocks as an attractive alternative than put their money in fixed deposits that have low interest rates (Chuan, 2004). Basically, investors who buying or having stocks will also have some risks (Indonesia Stock Exchange, 2007): Capital Loss. Capital loss is a situation when an investor is selling the stocks at lower price than the buying price. Liquidity Risk. A company with shares held by public is declared for its bankruptcy by the Court. Shareholders or investors will have the last priority of claiming their rights after all liabilities are fulfilled. The rest of the companys wealth will be shared proportionally to the shareholders. Shareholders will not obtain anything from the liquidation if there is no rest left. The overall price movements of common stocks of corporations traded on stock markets are called stock market price indexes. Corporate stockholders will get benefit from company through dividends and have right to vote in company. Investors capital gains and losses will affected by increasing and falling of stock prices (Frumkin 2000). Norman (Frumkin, N. 2000, p. 277) states that The dividend yield, which is the rate of return on a share company stock, is a companys annual cash dividend percentage of companys annual stock price. Nowadays, the price of stocks in Indonesia Stock Exchange is changing rapidly. The average price of stocks in Indonesia Stock Exchange increased significantly (approximately 20%) during 2006. The average price decreased approximately 19% during January 2008 and declined again approximately 16% during March 2008. The significant change of stock prices in Indonesia Stock Exchange is caused by external environmental factors or macroeconomics factors (Frensidy, B. 2008). There are many external environmental factors that impact financial system including stocks. Those factors are economic growth, inflation, exchange rates, interest rates, etc (Evans, et al. 2000). Many investors lost their money because of the significant change of stock prices in Indonesia Stock Exchange. Investors lost their capital because they sell their stocks at lower price than the buying price (Indonesia Stock Exchange, 2007). By analyzing external environmental factors, investors can predict the future price of stocks more accurately. To minimize the risk or capital loss, investors have to understand external environmental factors influencing stock prices in order to make correct decision whether they have to buy, sell, or hold the shares. The research will identify external environmental factors which have significant influence on stock prices and explain the relationship between those factors and stock prices in order to accomplish that goal. Objectives, Research Question, and Research Hypotheses The objectives of the research are: To identify the variables of external environmental factors influencing the stock prices in Indonesia Stock Exchange. To analyze the influence of external environmental factors on stock prices in Indonesia Stock Exchange. Based on the objectives, the research questions are as follow: Which external environmental factors influence stock prices in Indonesia Stock Exchange? How does external environmental factors influence on stock prices in Indonesia Stock Exchange? Based on the research question, the research hypotheses are built up: External environmental factors encourage the change of stock prices in Indonesia Stock Exchange. External environmental factor have strong correlation with stock prices in Indonesia Stock Exchange. Scope This research study will focus on external environmental factors influencing the stock prices in Indonesia stock exchange, which will be explained more briefly in chapter 2 literature reviews. Some external environmental factors influencing stock prices are applied to explain the correlation between external environmental factors and stock prices in Indonesia Stock Exchange. The analysis of what kind of relationship (positive or negative) between external environmental factors and stock prices will also be clarified in this research. The literature reviews will consist of some external environmental factors which influence stock prices especially in Indonesia Stock Exchange. A survey will be performed in order to collect data about the change of several external factors and stock prices in Indonesia Stock Exchange. Based on collected data, a model will be offered to analyze the relationship between stock prices and external environmental factors. Lastly, this research will be limited and focused on the following: The research is only focused on JSX composite index or (Indonesian: Indeks Harga Saham Gabungan, IHSG). This research is only focused on external environmental factors which influence stock prices. The data collection period of this research is 5 years from 2005 to 2009. Chapter 2 LITERATURE REVIEW Literature Review of External Environmental Factors and Stock Prices in Indonesia Stock Exchange This chapter will summarize external environmental factors which influence stock prices. Factors and frameworks will be appeared by joining and integrating adopted theories. Lastly, the major external environmental factors influencing stock prices in Indonesia Stock Exchange will be provided in this chapter. Categories of Stocks and Types of Orders In the market, there are various names of stocks that refer to different categories of stocks (Chuan, 2004): Figure 2.1 Categories of Stocks Source: adapted from Chuan, 2004 Blue Chips refer to stocks that are steady with good fundamentals. Undervalued Stocks refer to stocks which are well-established by companies with solid balance sheet. Such stocks are generally unnoticed by investors, traded with small volume, and receive little reporting from media and analysts or experts. Growth Stocks refer to stocks which are established by recognized companies that have high growth sectors and their business are predicted to enlarge quickly over the coming years. Such stocks are generally traded with higher PER (Price Earnings Ratio) even though they lack of history of strong earnings base. While companies show continual rise in their earnings, the price of these stocks will increase. Penny Stocks refer to stocks that have small capitalization and traded bellow one dollar. Small-Cap Stocks refer to stocks that have very few issued shares and traded in low price at stock market. Such stocks are usually not bought by foreign institutions and funds. Small-Cap Stocks have some risks as follow: Smaller companies tend to less flexible to major crisis because they are less diversified and more prone to market shocks and monetary crisis. Trading volumes are low and less liquid. Therefore, investors may not find the buyers in stock market when they want to sell the stocks. Small-Cap Stocks are more sensitive to news and rumors. There are 3 types of orders used in the buying and selling of stocks as follow (Chuan, 2004): Market Order Market order is an order to buy or sell stocks instantly at the best current price. For example, investors place market order to sell AAA shares. It means investors buy AAA shares at current offering price. Limit Order Investors which place limit order will set a certain suitable price to buy or sell a particular stock. Stop Order Stop order is an order to buy or sell the stocks that are traded at certain price level immediately. This certain price level is known as stop price. For instance, investors place stop order to buy AAA shares at $5.00. If AAA shares begin to trade at $5.00, the order becomes market order and broker will buy shares at the best current price. In terms of selling stop order, the order is placed bellow current price to help investors decrease their possible losses and keep their profit. Timing and Stock Investment Investor would discourage when the price of their stocks decreased significantly after they had bought the stocks or to be trapped in market crash after they had invested their money in the stock market. Good timing is the most crucial factor for investors in stock market. Even the best stocks will become useless investments if investors buy them at wrong time (George, A. 2008). The major problem is good timing cannot be determined easily because stock market is influenced by large amount of factors and events that are beyond prediction. Investors have to understand factors influencing stock price and involve some insight to determine good timing whether they have to buy, sell, or hold their stocks (Chuan, 2004). In stock investment, price is mechanism by which practically all goods and services are exchanged. In this case, price has strong power or price is a king because price will determine whether stocks become excessively expensive or inexpensive (George, A 2008). The price of stocks tends to increase when there are more buyers than sellers in stock market. Buyers are tense in stock market based on expectation of future price increase. There are some signals which make buyers believe that future stock price will increase (Chuan, 2004): Positive indication from market trend. Rumors in stock market. Information concerning better earnings prospects for company. External Environmental Factors Influencing Stock Prices There are several external environmental factors influencing the uptrend or downtrend of stock prices in stock market. Those external environmental factors are: Worldwide stock market. Local economy. Political factor. Inflation. Foreign Exchange Rates. Interest Rates. Commodity Prices. Worldwide Stock Market The performance of world economy will have effect on local economy or Indonesian economy due to globalization. The worldwide economy especially US, China, Japan, and Singapore economy will help to enhance Indonesian economy because those countries are major trading partners of Indonesia (CIA, 2010). Therefore, positive economic performance of those countries will give favorable result for Indonesian Stock Market (Chuan, 2004).Indonesian stock prices get significant impact from US, China, Japan, and Singapore stock prices. JCX composite index or IHSG obtain significant influence from worldwide stock market especially DJIA (Dow Jones Industrial Average), Nikkei 225, Hang Seng and Strait Times. Investors always look at those stocks before and during trading stocks in Indonesia Stock Exchange. Export partners and import partners of Indonesia will affect local economy and price of JSX composite index in Indonesian Stock Exchange (Samsul, M. 2006). For example, JCX composite index in 7 May 2010 decreased significantly (71.29 points or 2.54%) because of the decrease of worldwide stock market. Dow Jones Industrial Average decreased 407.05 points or 3.75%, Nikkei decreased 331.1 points or 3.1%, Hang Seng decreased 213.12 points or 1.06%, and Strait Times decreased 6.7 points or 0.59%. The decrease of worldwide stock market had significant influence on Indonesian stock prices (Meryani, A. 2010). Figure 2.2 Indonesia Export Partners 2009 Source: adapted from CIA, 2010 Figure 2.3 Indonesia Import Partners 2009 Source: adapted from CIA, 2010 Local Economy GDP or Gross Domestic Product is regularly used as an indicator of economic performance of the country. Brux (Brux, J.M. 2008, p. 351) states that Gross Domestic Product (GDP) is defined as the market value of all final goods and services produced in the economy in a given time period (usually one year). There are two different types of GDP as follow: Nominal GDP. Nominal GDP is GDP that determined at current prices or actual prices of a particular year. Real GDP. Real GDP is GDP which adjusted for inflation. GDP is generally used as indicator of standards of living in a country. If GDP is high, there is an assumption that economy in a country is doing well and this country has high standards of living. When GDP is growing, there is an assumption that economic activity in a country and standards of living are rising (Brux, 2008). When GDP of a country shows positive growth, it is usually followed by positive trend in stock market. Therefore, GDP is often used by investors to estimate turning points of their stocks and to time their investment.GDP growth and other economic data are published in newspaper. When investors read this information, investor should know how to use the information wisely. For instance, when banking sector is predicted to perform badly, investors should leave out banking stocks in their stock investment. This information will help investors to choose their stocks and make correct decision whether they have to buy, sell, or hold the shares. When economic condition in a country is good, stock prices generally tend to increase. However, investors have to be careful because it is also a sign that good days are numbered. Economy which is growing too fast will be difficult to maintain its growing or to be sustained (Chuan, 2004). Political Factor Stock price can be affected by regional, national, and international political situation. Political crisis usually will have negative impact in stock market trends. Stock prices generally will drop significantly because of political crisis (Chuan, 2004). Inflation According to Hook (Hook, J.A. 2003, p. 110), Inflation is A condition in which the economy experiences a continuous increase in the average price level of all goods and services. The price of certain goods and services may decrease but the average price of all goods and services increases. Financial service industries and banking are influenced significantly by inflation (Hook, J.A. 2003). Inflation can also be defined as a state that has continuous increase in prices of goods and services. Inflation will increase the cost of doing business because price of goods and services increases significantly. Therefore, it is expensive to do business during inflation and profit margins of business will decrease due to higher price of raw materials, rentals, etc (Chuan, 2004). Potential earnings of companies will determine the demand for a stock. Therefore, potential earnings of many companies generally decreased during inflation period due to the lower demand for stock. The lower demand for a stock will cause the decrease of stock prices in stock market. Investors should look at the growing of inflation and sell their stocks before inflation happens. Investors can use commodity prices and interest rates as indicators of inflation trend. When commodity prices and interest rates are rising, those factors indicate the coming of inflation. Investors should have carefulness to enter the stock market (Chuan, 2004). Foreign Exchange Rates Taylor, F. states that foreign exchange rate is the ratio which is used to convert one currency into another. Most countries around the world have their own currencies released by certain official agency which is called monetary authority or central bank. Currency is medium of exchange which is used to buy goods and services (Taylor, F. 2003). According to Philip (Philip et al. 2000), there are types of exchange rate system as follow: Flexible Exchange Rates. Flexible exchange rates system is an exchange rate system which the value of currency is permitted to react to market forces without any intervention by central banks or monetary authority. Fixed Exchange Rates. Fixed exchange rates system is an exchange rate system which associate countries agree to fix the value and changes only occur under certain particular condition. This exchange rate system can reduce uncertainty from international trade and support long term investment in international trade. Managed Floating. Managed floating is an exchange rate system which currency is allowed to respond to market changes but central banks are allowed to interfere in order to protect the value of the currency especially when central banks believe that depreciation is only temporary. Stock-Oriented models of exchange rates which also known as portfolio-balance approaches view exchange rates as equating demand and supply for certain assets especially stocks and bonds. Financial assets are valued by present values of future cash flows, expectations of relative currency values have significant role in price movements especially for internationally held financial assets. Therefore, stock prices are influenced by exchange rates movement (Ajayi and Mougoue, 1996). JCX Index or IHSG gets significant influence from the fluctuation of USD/IDR exchange rate. USD/IDR indicates how many IDR (Indonesia currency) per US dollar. The decrease of IDR currency in term of US dollar is generally followed by the decrease of several Indonesia stock prices such as Telkom, ASTRA International, Bakrie Telecom, Kalbe Farma, etc (Sihombing,G. 2008). Figure 2.4 shows that the fluctuation of USD/IDR exchange rate is very high. Therefore, Indonesian investors should look at USD/IDR exchange rate as consideration in trading stocks (Yahoo, 2010). Figure 2.4 USD/IDR Exchange Rates from 2005 to 2010 Source: Yahoo, 2010 Interest Rates Frumkin (Frumkin, N. 2000, p. 190) states that Interest is the cost of borrowing money, and interest rates are the price of money. Interest rates which refer to yields are the annualized percentage that interest is of the principal of the loan. Interest rate is a good indicator of inflation trends because of its role as regulatory device to monitor the inflation trends. If interest rate increases, the cost of borrowing money will become higher and more expensive. Investing and developing business will be more expensive. Therefore, the economic growth is decrease and the inflation is under control. Besides as an indicator of inflation trends, interest rates also affect stock market and have significant influence in stock prices. When interest rate in a country is low that indicates stable or low inflation rates, stock market generally shows its positive trends and has tendency to be more active. Many investors prefer to put their money on other investments rather than put their money in bank deposits due to lower fixed interest rate. Investors will obtain lower return from bank deposits than return which comes from other investments especially stocks or shares. In addition, the cost of borrowing money becomes cheaper and this makes investors advance their additional borrowing for investment. Therefore, low interest rate will give positive impact to stock market in terms of rising stock prices. Investors have to be more careful when there is news about increasing interest rates. Investors should look at the change of interest rates regularly because of the impact of interest rates on their stock prices (Chuan, 2004). Increasing interest rates will give a negative effect on many companies which have large debts or loans because of the rising of cost of borrowing. The profit of the companies and ability to grow will decrease. When the profit of companies decrease, stock prices generally becomes less attractive and their stock prices decrease. When interest rates become high, investors usually react in two possible outcomes as follow (Mladjenovic, P. 2009): Investors may sell some of their stocks to pay their interest loans or debts. If many investors sell their stock, it will give negative effect on stock prices. Stock prices tend to decrease because there are more sellers than buyers in stock market. Higher interest rates may cause investors swap change their investment from stocks to bonds or bank deposits which offer higher return. In Indonesia, interest rate decisions are decided by Central Bank of Republic of Indonesia. Indonesia interest rates dropped significantly over the years that can be seen in figure 2.5. The decrease of interest rates will attract more investors to invest their money on stock market (Trading Economics, 2010). Figure 2.5 Indonesia Interest Rates from 2006 to 2010 Indonesia Interest Rate Source: Trading Economics, 2010 Commodity Prices Basic commodities which are required in the production process of most goods and services are good indicators of inflation trends. Those commodities are oil, rubber, steel, etc. When the prices of those commodities increase, the cost of goods and services will also increase. Therefore, when the prices of most commodities increase, it may be an indication of inflation. Investors should have carefulness to enter the stock market. Besides as an indicator of inflation trends, commodity prices especially oil prices also affect stock market and have significant influence in stock prices (Chuan, 2004). Higher oil prices will have significant impact on stock market returns especially the aggregate effect of stock prices. Higher oil prices may cause the rising of production cost which will give great forces on industry equity returns. In oil exporting countries, higher oil prices will increase profits from oil, gas, coal, and vary resources industries. Higher oil prices may cause the rising of stock prices especially for oil exporting countries which depends on relative significance of the industries (Chen, A. H. 2008). JCX composite index or IHSG gets significant influence from the fluctuation of oil prices. For instance, the price of oil in early 2008 increased significantly to US$ 147 per barrel and then decreased drastically to US$ 36 per barrel. The price of JCX composite index followed the fluctuation of oil prices. In the early 2008, JCX composite index increased to IDR 2800. At the end of this year, JCX composite index decreased to IDR 1100 (more than 100%) because of the decrease of oil prices. Indonesian stock prices generally follow the fluctuation of oil prices. When the oil prices decrease, stock prices usually also decrease and otherwise. Therefore, Indonesian investors should look at the movement of oil prices as consideration in trading stocks (Sidarta, W. 2010). Research Framework Stock price in Indonesia Stock Exchange is the main axis in the research framework. The potential external environmental factors which influence stock price are: Economic factors. Economic factors consist of worldwide stock market (DJIA, Hang Seng, Nikkei, and Strait Times), local economy (GDP), inflation, interest rates, exchange rates (USD/IDR exchange rates), and commodities prices (oil price). Interest rates and commodities prices have correlation with inflation because the movements of those factors are indicator of inflation trends. Political factors. Stock price can be affected by regional, national, and international political situation such as political crisis. All of those potential factors will become consideration factors for Indonesian investors in order to make correct decision whether they have to buy, sell, or hold their stocks. The research framework can be seen in figure 2.6. Figure 2.6 Research Framework POLITICAL FACTOR ECONOMIC FACTORS STOCK PRICE (JCX Composite Index or IHSG) INTEREST RATES INFLATION OIL PRICES EXCHANGE RATES (USD/IDR) LOCAL ECONOMY (GDP) WORLDWIDE STOCK MARKET (DJIA, NIKKEI, HANG SENG, STRAIT TIMES) Source: The Researcher Summary The research topic in this study is An Empirical Study of Factors Influencing Stock Prices in Indonesia Stock Exchange. The report consists of introduction, literature review, and reference. Chapter 1 introduction identifies background of the research, objectives of the research, research question, research hypotheses, and scopes. Chapter 2 literature review provides knowledge and theories that are related to research topic. Summary and explanation of external environmental factors which influence stock prices will be provided in this chapter. At the end of this chapter, the author provides research framework in this report. Factors and frameworks will be appeared by joining and integrating adopted theories. Lastly, references show the sources of all information used in this research.