Living Environment in Kalahari Essay Example | Topics and Well Written Essays - 2000 words

Living Environment in Kalahari - Essay Example Measures to diverge these conditions have become futile. Despite many global environmental bodies that are mandated with environmental protection being set, little is being done due to lack of good will from different countries from the globe. Many meetings e.g. Kyoto have been convened in an effort to look for a solution to the crisis, but little has been achieved as developed countries have failed to sign the protocol which would bind the countries to contribute in environmental protection (Valsson, 2006). Some of the adverse effect of environmental pollution has been highlighted in the book, cry in the Kalahari. The author emphasizes on the problems that the animals go through in the wilderness. He wrote that they lacked basic needs making them make use of the little water that they get e.g. water from the bowls that the writer forgot outside the tent. This indicates the human ignorance when building empires while ignoring other living organisms which also depend on the environmen t (Owens & Cordelia, 1992 p.4). The chapter also emphasizes on the neglect by the developed countries to help in environmental conservation measures despite playing a great role in environmental pollution. ... This has increased demand for land. The land that was previously used by animals as their habitat has been transformed into human living areas. This has starved thousands of wild animals as feeding areas have reduced tremendously (Owens & Cordelia, 1992). Desert conditions have become very extreme with the living conditions become so unbearable. People living in these areas have been left vulnerable unable to afford even the basic needs. It has become hard for them to grow food crops as the environmental conditions have become harsh (Haluzan 2010). Environmental conditions in the arctic regions have also changed. The temperature levels have increased with 0.7 degree centigrade. This has led to smelting of the snow making the environment unfavorable for animals living in these areas. Furthermore, the vegetation which are adapted to cold conditions, have also been affected. Aquatic organisms have also been affected with a majority of them dying as a result of increased temperature leve ls of the water (Haluzan 2010). Changes in biodiversity Biodiversity plays a great role in protecting the lives of people, increasing food security, health and even resilience. There have been great changes in biodiversity especially in the northern countries. The changes in biodiversity are expected to continue increasing with the level of temperature increasing in the world. The growing vegetation both in the desert and the arctic regions are affected directly by changes in climatic conditions. According to the scientific information, the lichens and mosses population levels are expected to decrease. These act as food for reindeer therefore; their population is also expected to decrease (David & Paul, 1992, p. 16). On the other hand, the

If the North Were the South, Same Thing Essay Example for Free

If the North Were the South, Same Thing Essay Ricardo Arjona is one of the most renowned Latin American singers. He is characterized for his socially conscious and heartfelt folk ballads and rock tunes. In addition, he also plays a variety of styles that combine traditional South American folk music with rock, hip-hop, and classical music, Arjona sings about subjects ranging from faded love to social inequities. In 1996, Arjona wrote the song “Si el Norte Fuera el Sur” (If the North were the South), in which he expresses a subjective, yet truthful point of view of what the North American culture is; and how it could change if we exchange places with the South. In this song, Arjona uses many literactully techniques such as irony and analogies; Arjona also adds a type of hardcore rock and an interesting use of the electric guitar. There are many literally elements that this song has, but the main element is the plot or theme of the song, which is pretty straight and to the point. “Si el Norte Fuera el Sur” (If the North were the South)Â’s main plot is a story of how the North could experience all the social struggles that the South Americans countries have to deal with, if as the songÂ’s title suggest “. “Si el Norte Fuera el Sur” (If the North were the South). The main plot is divided into three stages; the first stage is the introduction, in which Arjona gives a subjective opinion of what the North really is all about. Then, he moves to the second stage or the body of the song; during this stage Arjona mentions a series of well known North American personages and situations that help him establish his exchange of geography. Finally, the third stage or conclusion is when Arjona really say what the bottom line of all this is; the fact that nothing will really change. Ricardo Arjona is well known for the rich content of literally elements in his lyrics, especially for the touch of irony and analogies. “Con 18 eres un nià ±o para un trago en algun bar, pero ya eres todo un hombre pa la guerra y pa matar.” (With 18, you are only a boy for a drink in some bar, but you are already a man to go to war and to kill), this is a perfect example of an irony of living in the United States, in which at the age of 18 you cannot legally drink, yet you are allow to receive combat training to kill someone.  In the songÂ’s chorus, Arjona says “al diablo la geografia se acabaron las fronteras” (The hell with geography, there arenÂ’t any borders left), the truth is that borders still exist, but he wasnÂ’t talking about a literally border; Arjona used this analogy to tell us that we are the same and that our geographic position doesnÂ’t mean anything. Ricardo Arjona with his unique style and use of musical instrument; he has put a type of hardcore rock rhythm, which is use to make an impression in his listener. In this song, Arjona utilizes an electric guitar, and a trumpet, with the drums on the back. The rhythm started slow tempo, but strong as if he was upset with the ironies in the North. Then, the tempo began to run faster; the drums and the trumpet were sort of creating an atmosphere of excitement, it makes you feel as if you were a protestant of social inequalities. Finally, he concludes with a slow and heavy electric guitar melody, where he then stop for at least 3 seconds and concludes with the words “Si el Norte fuera el Sur, seria la misma porqueria, yo cantaria un rap y esta cancion no existiria.” (If the North were the South, it would have been the same crap, I would be singing a rap and this song wouldnÂ’t even exist). References http://www.satyamag.com/may03/carter-long.htmlhttp://www.answers.com/topic/ricardo-arjona

Products And Services Offered By Pepsico Commerce Essay

Products And Services Offered By Pepsico Commerce Essay PepsiCo is one of the most successful beverage and snack food business in the world. PepsiCo started on 1965, during that time Pepsi-Colas CEO and President Donald M, Kendall approached Herman Lay, Frito-Lays Chairman and CEO with a proposition of merging the two company in providing food and beverage with complementary products that would give a lesser opportunity for cost sharing, joint merchandising and knowledge and skill transfer (MightyStudents, 2010). PepsiCo brands are available in nearly 200 countries and territories. Its expertise is to create different food and beverage products that would soothe the taste of its consumer.  PepsiCo is a world leader in convenient foods and beverages, with revenues of about $57 billion and over 294,000 employees (JobsGlobal Online, 2011). The reinvention of different products, the introduction of new product, expansion into international markets and clever advertising campaigns are the primary focus of PepsiCo Inc.   PepsiCos considerable marketing expertise could be leveraged in the marketing of fried chicken, pizza, and Mexican fast foods. The companys current operating locations, headquarters and current initial public offering stock market. Pepsi-Cola North America, headquartered in Purchase, New York, is the refreshment beverage unit of PepsiCo Beverages and Foods North America, a division of PepsiCo, Inc. PepsiCo Beverages and Foods North America also comprises PepsiCos Tropicana, Gatorade and Quaker Foods businesses in the United States and Canada. Brand Pepsi and other Pepsi-Cola products account for nearly one-third of total soft drink sales in the United States, a consumer market totaling about $57 billion. Outside the United States, Pepsi-Cola beverages are available in about 160 countries. Today Pepsi-Cola products account for about a quarter of all soft drinks sold internationally (Global Finance, 2011).. The company has also established operations in the emerging markets of the Czech Republic, Hungary, Poland, Slovakia, India and Russia, where Pepsi-Cola was the first U.S. consumer product to be marketed. Pepsi-Cola provides advertising, marketing, sales and promotional support to Pepsi-Cola bottlers and food service customers. This includes some of the worlds best and most recognized advertising. New advertising and exciting promotions keep Pepsi-Cola brands young. Performance and achievements PepsiCo current performance and achievement is Conserved more than 12 billion liters of water through efficiency improvements within PepsiCo operations as compared to the 2009 baseline. Achieved a 16 percent reduction in per unit use of energy in beverage plants and a 7 percent reduction in snack plants in 2010 compared to a 2009 baseline. Introduced the first fully compostable Sun Chips bag, which is made with 100 percent renewable plant-based materials. Increased the percentage of executive positions held by women globally to 30 percent. Reduced saturated fat by more than 50 percent in U.S. Lays and Ruffles potato chips. PepsiCos success is the result of superior products, high standards of performance, distinctive competitive strategies and the high integrity. The Macro-environment analysis of PepsiCo Company. Political Factors: The production distribution and use of many of PepsiCo product are subject to various federal laws, such as the Food, Drug and Cosmetic Act, the Occupational Safety and Health Act ad the Americans with Disabilities. The government plays a role within the operation of manufacturing these products in terms of regulations. There are potential fines set by the government on companies if they do not meet a standard of laws. The businesses are also subject to state, local and foreign laws. The international businesses are subject to the Government stability in the countries where PepsiCo is trying get into underdeveloped markets. The businesses are also subject to de taxation policy in each country they are operating. They also have to comply with federal, state, local and foreign environmental laws and regulations. In political stability, whenever the Government Is Considered to Be Stable, the business will grow. If there is political stability in the country the policies and strategies made by Pepsi can be consistent to be implemented. Foreign companies are also keen to invest in those countries which are politically stable where they have no fear of decline in their market share or shut down due to sudden change of government. In mixed economy government and private sector both plays their role in developing the economy of the country. Investment by foreign companies like Pepsi is more likely to flourish in mixed economy. Economic Factors: The key elements taken into consideration are the principal market risks, which PepsiCo is exposed to inflation rate, interest rate, and foreign exchange rate. These are specified as: The major economic issue facing PepsiCo and its subdivisions is the rising input costs of  their businesses due to structural inflation.   Agricultural, energy, and some metal industries are going through periods of steady inflation.   Because PepsiCo relies on these industries, inflation costs must be factored into their cost equations.   In inflation rate, if the country faces inflationary trend in the market, the price of the Pepsi will ultimately increase which will lower its demand. Interest rate on PepsiCos debt as well as it short-term investment portfolio: PepsiCo can manage its overall financing strategies in term of balancing investment opportunities and risks. The company is using interest rate and currency swaps to effectively modify the interest rate in order to reduce the overall borrowing costs Foreign exchange rate and other international economic conditions, operating in international markets involve exposure to movements in currency exchange rates, which typically affect the economic growth, inflation, interest rate, government actions and other factors. Once these changes occur, they will cause PepsiCo to adjust its financing and operating strategies. Changes in currency exchange rates that would have the largest impact on translating PepsiCos international operating profit include Mexican peso, British pound, Canadian dollar and Brazilian real. Social cultural Factors: Consumers today are not as much joyous to cola products as they were before. Age and ethnicity are two main characteristics that affect consumer preference for soft drinks and alternative beverages. With age, health concerns become more of a factor when choosing a beverage. To illustrate, some studies show that cola products or soft drink in general may cause kidney stones and other related diseases. In contrast to older consumers, younger consumers particularly teens and those in their twenties have less attention spans for products and are more likely to prefer products that seems to be fun and different .   Age and ethnicity are two main characteristics that affect consumer preference for soft drinks and alternative beverages. With age, health concerns become more of a factor when choosing a beverage (PepsiCo, 2006). The requirements of different age groups are different. PepsiCo should target that age group that consumes it the most and make promotional strategies according to their behavior. So their main target is the young generation. The social environment within food services markets are changing significantly.   A new demand for healthy food and beverages coupled with a push towards green operations and environmentally-friendly company management has changed the social playing field within most markets.   With this in mind, PepsiCo have successfully adopted new goals and produced new products in order to meet this more health-conscious market.   PepsiCo and moreover Pepsi is subject to the lifestyle changes, because of it bases her advertising campaigns in a concrete kind of people with an special lifestyle, it is for that PepsiCo has to pay a special attention on the lifestyle changes. Particularly in the United States Pepsi drinkers are much defined, there is a kind of people who drinks Pepsi another kind who drinks Coca-Cola; it is for that they have to pay attention to the social mobility for not losing a possible market. Technological Factors: PepsiCo and its subdivisions utilize technology in order to sustain company growth, keep up with the demands of its sustained growth, and perform efficiently.   PepsiCos delivery systems provide a strong competitive advantage.   In particular, their most powerful distribution system, Direct store-delivery (DSD) allows them to supply all of their retailers and customer-distributors with up-to-date stock.   Direct store-delivery allows us to create maximum appeal and visibility for our brands and support in-store promotions.   DSD works well for popular products we restock often, because it allows us to distribute new products quickly.   Our DSD system reaches hundreds of thousands of retail outlets this way, from neighborhood convenience stores to large-format supermarkets (Annual Report, 11). Through research and development quality of the product can be improved or better techniques or machinery can be developed which can increase the production. When technology is advance the supply of the product increase hence the company experiences growth in their business. Some factors that cause companys actual results to differ materially from the expected results are as follows: The effectiveness of companys advertising, marketing and promotional programs. The new technology of internet and television which use special effects for advertising through media by make some products look attractive. This helps in selling of the products. This advertising makes the product attractive. This technology is being used in media to sell their products. Introduction of cans and plastic bottles have increased sales for PepsiCo as these are easier to carry and you can bin them once they are used. As the technology is getting advanced there has been introduction of new machineries all the time. Due to introduction of this machineries the production of the PepsiCo company has increased tremendously then it was few years ago. Legal Factors: In elements with changes to legislation, Waste Management and Public Concerns of growing environmental awareness are leading to increasing legislation. The companys operation is affected by federal legislative proposals that address the four objectives. First, minimize the quantity of packaging material entering the nations solid waste system. Second, minimize the consumption of scarce natural resources. Third, maximize the recycling and reuse of packaging materials. Fourth, Protect human health and the natural environment from adverse effects associated with the disposal of packaging materials. Laws Formulation in order Government has given copy rights to PepsiCo by Pepsi product, so that another company cannot sell their product by the name of Pepsi. The countries where laws are formulated, the strategies and activities of the company are different. This is one of the most important factors that a company needs to consider while starting, establishing and expanding operations in any country. Legal Environment is important because a company needs to confirm to the laws of the land and carry out its operations accordingly. While political environment is important as it can play an important informing opinions regarding the company. This is the reason why PepsiCo operates in India in collaboration, initially it started its operations in India with Punjab Government and then it started its operations in the carbonated and non-carbonated beverage segment n collaboration with RKJ group in India. Environment Factors: This plays an important role in determining the acceptability of the product according to the environment norms of the market and the effect the company has on each of these. In the area of Environment, PepsiCo Foundation seeks programs that protect water sources and create better use for existing water, in order to help minimize the growing water crisis that is faced by millions of people around the globe. In social responsibility, PepsiCo social responsibility is to provide its customers with clean and hygienic product so to do this they have increased the use of disposable bottles. Companies need to be very careful about this issue as people are very sensitive about their culture and may not tolerate any infringement. This determines the ingredients of the products and the type advertisement and promotions used by the company. The international considerations Where do they operate? PepsiCo entered India in 1989 and has grown to become the countrys largest selling food and Beverage Company. One of the largest multinational investors in the country, PepsiCo has established a business which aims to serve the long term dynamic needs of consumers in India (PepsiCo India, 2011). The group has built an expansive beverage and foods business. To support its operations, PepsiCo has 36 bottling plants in India, of which 13 are company owned. In addition to this, PepsiCos Frito Lay foods division has 3 state-of-the-art plants. PepsiCos business is based on its sustainability vision of making tomorrow better than today. PepsiCos commitment to living by this vision every day is visible in its contribution to the country, consumers and farmers (PepsiCo India, 2011). What is/are their internationalisation method(s)? In order to enter the market scene, PepsiCo has been able to use joint venture. Joint venture is the term used when a business company merged to other company for the purpose of entering the international market.   This is an alternative mode of exploiting a particular asset such as retail and potential branch network to form an arrangement with an established supplier of the product. PepsiCo gained entry to India in 1989 by creating a joint venture with the Punjab government-owned  Punjab Agro Industrial Corporation  (PAIC) and  Voltas India Limited. This joint venture marketed and sold Pepsi  until 1991, when the use of foreign brands was allowed; PepsiCo bought out its partners and ended the joint venture in 1994. With the joint venture method used by the company to enter an international market, PepsiCo has been able to be known in the international market. Hence, it can be said that the method used by the company as a mode of foreign market entry is effective and appropriate to achieve the goal of the company of having a strong competitive position in the international market.   The company has used suitable market entry mode to ensure that their products will be delivered to international market. Discuss the problems faced by the company in international business and propose solution to overcome the issues. Problems Initially, the India market was highly fragmented, and the wholesale and distributional systems were outdated. This was further complicated because PepsiCo was the actually  existing wholesaler of concentrate, and did not have access to the operation of the bottling plants. To add to this problem, the companys local market agents were fully responsible for production and distribution during the initial stages of market entry. The India government exerted tight control over the development of the soft drink industry and was careful to nurture domestic brands. PepsiCo was not permitted to enter into a Joint Venture bottling business with its local partners until 1992, and even then it was restricted to a minority stake.   Pepsi is also facing the problem concerning environmental issues like the supply of raw materials to produce their products. If Pepsi fails to help in environmental issues, the situation it had been during World War might happen again  when they almost went out of business because of the shortage of sugar.  Ã‚   Solution To overcome the above problem, PepsiCo internalized market transactions through a strategy of long-term investment and, with the approval of the government was able to co-ordinate this with an increased control of production and domestic distribution. In the highly competitive market share driven business of carbonated soft drinks, to assume control of production and distribution is strategically essential. This meant that the acquisition of majority stakes in the bottling plants is almost a prerequisite for gaining the control over management. Pepsi also has to deal with such environmental issues like the supply of raw materials to produce their products. If the environment will provide them a good raw material they might have a more profit.  PepsiCos dedication and commitment to the environment is stated in their Worldwide Code of Conduct. The  Worldwide Code of Conduct  defines PepsiCos commitment based on the following environmental principles. Developing programs that promote clean air and water, energy conservation, and reduce land fill waste. By supporting programs that educate, train and motivate employees to help the environment. Business is conducted by complying with all applicable laws and regulations and provides a safe and healthy environment. Minimizing the impact of our businesses on the environment through methods that are socially responsible, scientifically based and economically sounds, such as recycling and conservation. By cooperating with different organizations and governments to find solutions to reduce pollution and by supporting environmental policies. In order to make this foreign operational mode combination a success, PepsiCo should consider the most suitable and effective expansion strategy. It can be said that the spread of PepsiCo is truly global. The company has hundreds of brands, which can be found in almost 200 countries and territories around the world. Market concentration is the result of interaction between the market size and a few vital factors. It is said that the industry of Carbonated Soft Drinks (CSD) is highly concentrated. There are three major industries that compete in this business (PepsiCo and Coca-Cola). This shows that PepsiCo have a high market concentration. In this manner, the international market entry of PepsiCo is a good expansion strategy so as to maintain its position in the global market. In order to ensure that the market entry combination strategy used by the company will succeed, the company must be avail to consider the aspects of control and monitoring. In this manner, the company must have a monitoring team that will ensure the profitability and growth of the company as the expansion strategy has been initiated.   The monitoring team will be responsible for identifying the possible risks that the company will encounter upon the initiation of the expansion strategy through foreign market entry mode. In addition, this team will also be accountable for determining the cost that will be needed to implement that new strategy. Product competitive analysis SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis of the companys products. Strengths Branding One of PepsiCos top brands is of course Pepsi, one of the most recognized brands of the world, ranked according to Interbrand. As of 2008 it ranked 26th amongst top 100 global brands. Pepsi generates more than $15,000 million of annual sales. Pepsi is joined in broad recognition by such PepsiCo brands as Diet Pepsi. Diversification PepsiCos diversification is obvious in that the fact that each of its top 18 brands generates annual sales of over $1,000 million. PepsiCos arsenal also includes ready-to-drink teas, juice drinks, bottled water, as well as breakfast cereals, cakes and cake mixes. This broad product base plus a multi-channel distribution system serve to help insulate PepsiCo from shifting business climates. Distribution The Company delivers its products directly from manufacturing plants and warehouses to customer warehouses and retail stores. This is part of a three pronged approach which also includes employees making direct store deliveries of snacks and beverages and the use of third party distribution services. Weaknesses Second Mover Disadvantage Diet Pepsi Cola does have the first mover advantage which Diet Coke has and this may prove to be a major shortcoming also in the US Market no Extensive efforts have been made to popularize it. By brand, on a comparative scale Diet Coke proves to have a better brand image in customers mind than. This compels to incur extra expenditure in Advertising, Promotions and Sponsorship. Competitor The main competitor of the company is the Coca Cola. At the international level, Pepsi has a very strong competition with Coke. Coke has started its advertisements more effectively to increase their demand and it is a very strong threat for Pepsi. Expenditure Right from the very beginning Pepsi has hired the biggest and the most expensive stars in the country as its brand ambassadors and has spend heavily on advertising which has affected its balance sheet Opportunities Lowest Per Capita Consumption Even after almost decades of presence in the market, there are growth opportunities for Pepsi in US as here the per capita consumption of carbonated beverages is one of the lowest in the world. Health Based apart from its Juice Based drinks portfolio Pepsi can use the Slim Diet can to the maximum by promoting it as a health drink at cheaper prices. Healthy foods supportive The increasing concern for healthy foods supportive of diet and wellness will open a new door of opportunity for PepsiCo.   The acquisition of Aquafina, Tropicana and Quaker Oats is already a significant positive step towards the consideration of a healthier food and beverage alternative.   The awareness does not limit itself to these products and in fact, as if in a synergistic dedication,. PepsiCo is also committed towards the healthy lifestyle of children through school programs.   As PepsiCo caters to snack foods that are high in fat, PepsiCo must continue to challenge itself in the provision of healthy foods in the light of a deteriorating contemporary times.   The spotlight on healthier foods would hopefully cut the costs of the ever-inflating cooking oil prices as focus is made on high protein snacks. New markets expansion New markets are similarly opening up in the world, open for further expansion.   Most apparent is the opening of the Chinese market.   Taking in mind the large population of this country, Pepsi must find measures to quickly penetrate, expand to China and beating the competition that will arise from there.   They must appeal to the tastes, culture and locale of their new Asian markets using a local feel to their products which can be manageable in their strong advertising campaign. Pepsi continuing diversity will provide the much needed back-up for the company and allow it to rely on other companies and businesses than just a sole powerful brand. Threats Health Growing health awareness among people and some of ill effects of carbonated beverages have pursued many people to switch over to non-carbonated beverages that can seriously impede the long-term prospects of the entire Industry and Pepsi. Environment Environmental concerns are often raised because of the massive amount of water extracted by the bottling plants resulting in the drop in groundwater level which affects the local population adversely Intense Competition The Coca-Cola Company is PepsiCos primary competitors. But others include Nestlà ©, and Kraft Foods. Intense competition may influence pricing, advertising, sales promotion initiatives undertaken by PepsiCo. Recently Coca-Cola passed PepsiCo in Juice sales. Suggest solutions to recover the position of the weaknesses and threat of the product line. The solutions to recover the position of the weaknesses and threat of the product line is Pepsi should also introduce a version of Diet Pepsi Cola as a sports drink range this is a completely new and untapped market which will help in providing the impetus for Diet Pepsi. Pepsi should start more aggressive marketing of its Diet Pepsi range of products as they have very good growth and future prospects while there is not much growth in the carbonated beverages sector. Next solution is the Pepsi is at its maturity stage and the sales of company are not growing very rapidly. Company is doing a lot of promotional activities to let the product remain in the market. It holds a large share of the market and whenever the sales state declining, the Pepsi can improve it by different promotional activities. Marketers of Pepsi can try to improve sales by improving one or more marketing mix elements. They can cut prices to attract new users and competitors customers. They can also launch a better advertising campaign or use aggressive sales promotion to improve the sales. Thus, Pepsi is at its maturity stage. The next solutions to recover the position of the weaknesses and threat of the product line is for Pepsi is to move forward with commitment to provide industry leadership in the health and wellness arena. Pepsi should do a better job of staying in touch with shoppers and consumers and in the process of innovating and creating value. This is absolutely essential for value creation in the beverage industry. I think the most important driver behind the demand for beverage is population demographics. The final solution for Pepsi is to develop strategies to win the cola war in this century. Winning the cola war in twenty-first century is critical for Pepsi to maintain its industry leadership position and to be a total beverage company. New Venture Barriers to entry New entrants Pepsi to the Norway industry were very high human development (VHHD) are not a strong competitive pressure in the soft drink industry. Coca-Cola and PepsiCo dominate with their strong brand name and superior distribution channels. In addition, the soft-drink industry is fully saturated. New growth is small. This makes it very difficult for new, unknown entrants to start competing against the existing established firms. Another barrier to entry is the high fixed costs for warehouses, trucks, and labor and economies of scale in Norway country. New entrants cannot compete on price without economies of scale. These high capital requirements and market saturation make it extremely difficult for companies to enter the soft drink industry; therefore new entrants are not a strong competitive force. Pepsis product differentiation caused by their marketing strategy has limited the threat of new entrants. Also the heavy start up costs of manufacturing and packaging plants would be a deterrent. But, the biggest deterrent is brand image and reputation; a new company would be very hard pressed to take market share away from established players like Pepsi, Coke etc. More importantly, the access to distribution channels is currently one of the biggest barriers to entry, and this barrier remains because both Coke and Pepsi maintain very strong relation with their channel partners. 6.2 Threat of Substitutes Substitutes for Pepsi products in Norway with (VHHD) are bottled water, sports drinks, coffee, and tea. Bottled water and sports drinks are increasingly popular with the trend towards the health conscious consumer. There are a growing number and varieties of water and sports drinks that appeal to different consumers tastes. These are advertised as healthier than soft drinks. In addition, coffee and tea are competitive substitutes because they provide caffeine. Soft drinks can be substituted with coffee. Specialty blend coffees are also becoming more popular with the increasing number of Starbucks stores that offer many different flavors to appeal to all consumer markets. Low switching costs for the consumer makes the threat of substitute products very strong (Datamonitor, 2006). 6.3 The bargaining power of supplier Threats of Suppliers to in Norway (VHHD) are suppliers Pepsi are bottling equipment manufacturers and secondary packaging suppliers. Since Pepsi owns the majority of the bottler, it looks like that particular supplier does not hold much bargaining power. However, there has been increased concern about the simmering tensions between Pepsi and its increasing powerful independent bottlers such as PepsiCo. PepsiCo controls 80 percent of the US market as well as parts of Europe. Pepsi is introducing new product at a significant rate. The operational and distributional complexity due to new product introduction is affecting the bottom line of the bottlers. Some bottlers have even refused to carry new products. In terms of equipment manufacturers, the suppliers are generally providing the same products. The number of equipment suppliers is not in short supply, so it is fairly easy for a company to switch suppliers. This takes away much of the suppliers bargaining power. However, rising sugar and packaging material prices have a direct impact on the profitability of the Pepsis products. 6.4 The Bargaining power of Buyers The buyers power in new venture of Norway with Very High Human Development County, Pepsi and other soft drinks are mainly large grocers, discount stores, and restaurants. The soft drink companies distribute the beverages to these stores for resale to the consumer. The bargaining power of the buyers is very evident and strong. Large grocers and discount stores buy large volumes of the soft drinks, allowing them to buy at lower prices. Restaurants have less bargaining power because they do not order in large volume. However, with the number of people drinking less soft drink, the bargaining power of buyers could start increasing due to decreasing buyer demand. The interesting shift in buyer demand because of increased demand for healthy choices has driven the market share of substitute drinks. Consumers are focusing more on healthy choices and buying healthy drinks from high end specialty stores. This phenomenon is due to health and wellness trend sweeping across the global beverage market. Soft drink consumers are moving their consumption from regular cola carbonates to low-calorie carbonates, bottled water, sport drinks, juice and teas. Pepsi should adapt to this consumer behavior for future growth. 6.5 Competitive rivalry The competitive pressure from rival sellers is the greatest competition that Pepsi faces in the soft drink industry to enter to Norway. PepsiCo, Coca-Cola, and Cadbury Schweppes are the largest competitors in this industry with global presence. Though Pepsi owns four of the top five soft drink brands (Pepsi, Diet Pepsi, Mirinda, and 7 up), it had lower sales in 2006 than did Coca-Cola. However, PepsiCo has higher sales in the global market than Coca-Cola. In 2006, PepsiCo dominated North America with sales of $22 billion, whereas Pepsi only had about $7 billion, with more of their sales coming from overseas. PepsiCo is the main competitor for Coca-Cola and these two brands have been in a power struggle for more than a century.

Essay on The Greater Sin in Hawthornes The Scarlet Letter

The Greater Sin in The Scarlet Letter    In essence, there were three main sins committed in The Scarlet Letter, the sins of Hester, the Reverend Arthur Dimmesdale, and Roger Chillingworth. Roger Chillingworth committed the greatest sin because he let himself be ruled by hatred and the consuming desire for vengeance.   The overpowering vengeance and hatred felt by Chillingworth caused his life to be centered on demeaning Dimmesdale and tormenting him until the end of time.   Both Hester Prynne and Arthur Dimmesdale committed sins for which they were deeply remorseful, Roger Chillingworth, however, committed the greater sin because he felt no guilt.   Unknowingly, Hester Prynne sailed from Europe to the Americas betrayed and tricked.   Waiting for the arrival of her husband, Roger Chillingworth, she lost hope in him ever arriving or even still being alive.   After enduring two years of tortured loneliness and lost love, Hester wished to feel the warmth of love again.   She tried to fill this emptiness by making love with the Reverend Dimmesdale.   When her child Pearl was born, Hester's adulterous sin was discovered and she was cast out from their society and required to wear an embroidered â€Å"A† on her bosom in punishment.   Hester felt guilt for her sin the rest of her life and sought repentance and absolution until the time she died.   Hester never had true love for Chillingworth, but was tricked into marriage.   She later told him this while speaking in her jail cell saying to him, â€Å"... thou knowest that I was frank with thee, I felt no love, nor feigned any† (Hawthorne, page #). Hester was betrayed, tricked and allowed herself to become caught up in the evil desires of another.   She then allowed herself to be trapped by sin, cau... ...me year as a result of this.   Roger Chillingworth's sin was the greatest committed because it ruled his life even until his death. Comparing between the sins of Hester Prynne, the Reverend Arthur Dimmesdale, and Roger Chillingworth, the reader can easily establish that Roger Chillingworth committed the greatest sin.   He did this by being ruled by hatred and the feeling of vengeance.    1.  Ã‚  Ã‚  Ã‚  Ã‚   In your conclusion it would have been good practice to restate the conditions of Prynne and Dimmesdale as well. 2.  Ã‚  Ã‚  Ã‚  Ã‚   Always cite your quote with the name of the author and the page number on which the quote can be found.   For example, a correct citation would be (Hawthorne 60). 3.  Ã‚  Ã‚  Ã‚  Ã‚   Also in quotes, the punctuation should come after the parentheses.   For example, â€Å"My folly and weakness.† (Pg. 52)   should read â€Å"my folly and weakness† (Hawthorne 52).   

Thesis Titles

Nueva Ecija University of Science and Technology College of Architecture AR-443 Assignment In Research Method Submitted By: Neonimfa G. Angala Ar-4A Submitted to: Arch. Ofelia M. Bawan Title: VERTICAL HOUSING + SMALL SCALE FARM (hydroponics and aeroponics) Abstract: Agriculture is the main industry of the people because of its naturally rich soil. Lowland crops such as rice, corn, onions, vegetables and sugarcane are produced in great quantities and Nueva Ecija is widely referred to as the Rice Bowl of the country. Agriculture has played a vital role in molding the culture of the people.The typical Novo Ecijano family is tightly knit and is the basic working unit on the farm. Nueva Ecija is one of the top producers of agricultural products in the country. Its principal crops are mainly rice but corn and onion are also produced in quantity. The province is often referred to as the â€Å"Rice Granary of the Philippines. † Other major crops are onion, mango, calamansi (calamondin orange), banana, garlic, and vegetables. The town of Bongabon at the eastern part of the province at the foot of the Sierra Madre Mountains and its neighbouring Laur and Rizal are the major producers of onion and garlic.Bongabon is called the â€Å"onion capital of the country†. A sunflower farm is also housed inside the Central Luzon State University campus in Science City of Munoz. Nowadays in Nueva Ecija most of the farmlands were turn to subdivisions and sometimes commercial buildings and houses. To have a solution to these problems, the purpose of this project is to have a spacious place for dwelling and for farming without losing the farmland in the Nueva Ecija. It also aims to have a land for those people who want to farm exactly inside his property without buying any farmlands. Instead of horizontal widening, it is vertically. Title:How Architects Manage his Time Between God and his Profession. Abstract: Man was designed with a great capacity for God. But sin, which is man’s own individuality, pride and wrong thinking, keeps him from relating to God. Sin is a wrong relationship with God – it is not wrong doing, but wrong being – it is deliberate and stubborn independence from God, triggered by choice and personal insecurity masked as pride. He has the freedom to make choices, but he cannot choose the consequences of his choices. They will turn around and define his circumstances. Spending time for work and for God is hard specially if one choose work over God.The problem is can architects manage to equally spend their time praising God and doing work? How can it change his life if he choose God instead of work? Title: Edutainment: An Eco-Friendly Educational Amusement Park Abstract: Amusement parks  and  theme parks  are terms for a group of  entertainment  attractions,  rides, and other events in a location for the enjoyment of large numbers of people. An amusement park is more elaborate than a simple city park or  playground, usually providing attractions meant to cater specifically to certain age groups, as well as some that are aimed towards all ages.Theme parks, a specific type of amusement park, are usually much more intricately themed to a certain subject or group of subjects than normal amusement parks. Nowadays some schools hold field trips to amusement parks may be because amusement parks don’t have educational purposes for the students and other spectators. The usual amusement park is just filled with rides and for leisure only. The project aims to be educational at the same time having a great time inside the amusement park for the students and also for young children to learn faster. With great sustainable ways that can help the amusement park to be an eco-friendly.

Assessed Practical Essays

Assessed Practical Essays Assessed Practical Essay Assessed Practical Essay Method 1Mass (g)Total Mass Loss (g)Original Mass1.440.00Measurement 11.050.39Measurement 20.900.54Measurement 30.880.56Measurement 40.860.58Measurement 50.860.58CalculationsIn theory the remaining mass after the heating will be only FeSO4, so from this the mass that was evaporated off would be entirely water. From this we can calculate:The number of moles of H2O is the n= m/MrH=1O=16H2O = 18 =Mr0.58/18 = 0.032 moles of H2OThe remaining mass should be entirely FeSO4 so:Fe=56S=32O=1656 + 32 + (416) = 152 = MrThe number of moles of FeSO4 = 0.86/152 = 5.657894737 x 10^-3 MolesTo find the ratio of H2O we need to use:0.032/5.657894737 x 10^-3 = 5.655813953This is approximately 6 so the Formula of the Hydrated Iron (II) Sulphate Crystals is FeSO4.6 H2O.Method 2Titration #Start Vol. (cmà ¯Ã‚ ¿Ã‚ ½)End Vol. (cmà ¯Ã‚ ¿Ã‚ ½)Difference (cmà ¯Ã‚ ¿Ã‚ ½)19.000030.950021.9500211.000033.150022.1500315.000037.250022.050044.000026.100022.1000Average (cmà ¯Ã‚ ¿Ã‚ ½)22.0625Equ ation5 Fe2+ + MnO4- + 8 H+ = 5Fe3+ + Mn2+ + 4H2OBy finding the number of moles of Fe2+ ions being reduced by the MnO4- ions we can calculate the Mr of the FeSO4.xH2O that was used in the experiment.Calculations22.0625 / 1000 = 0.0220625 dm à ¯Ã‚ ¿Ã‚ ½Using n=VxM0.0220625 x 0.01 = 2.2062510-à ¯Ã‚ ¿Ã‚ ½ moles of Fe2+From the equation you can see that there are 5 moles of Fe2+ taking part in the reaction so:5 x 2.09710-à ¯Ã‚ ¿Ã‚ ½ = 1.103125 molThis method has only calculated this for 25cm3 of solution but we need 250 cm3 so we multiply by 10.1.103125 x 10 = 0.01103125 molUsing this and the original mass we can calculate the Mr of the compound and deduce the number of H2O.Using Mr = n/m3.08 / 0.01103125 = 279.2067989Then take away the Mr of FeSO4 gives the amount of water in the compound279.2067989 152 = 127.2067989Then divide by the Mr of water to get how many are in the original compound127.2067989 / 18 = 7.067044381So the formula of the compound is FeSO4.7H2OEvaluationMeasuremen t ErrorsOne of the largest measurement errors is in the weighing of the compound. The scales used only weigh to 2 decimal places. For a titration this is not accurate enough as the titration can precise. The preferable accuracy would be to at least 3 decimal places as the lack of accuracy could greatly affect the results of the calculations.Also in Method 1 we do not know whether or not there was any absorption of moisture during the cooling period. This can be a large problem as the method relies on the fact that the reaction no longer takes place when there is no more water. To escape this problem this reaction could be carried out in a vacuum or have all the moisture evacuated from around the apparatus.The greatest problem being the accuracy scales due to the fact that it can affect both methods but the second problem is mainly to do with the first method.I would suggest the use of Method 2 due to there being less measurement inaccuracies.Procedural ErrorsWithout knowing whether or not a compound is being thermally decomposed is a big downside to Method 1. During the heating there could be gases being given off other than steam, as it is assumed only the water is being removed from the compound.If there is thermal decomposition there would be the mass of the water removed as well as some of the compound. This could prove a large error in the calculations to find out how much water there is in the formula.To avoid this either a different method could be used or a boiling tube, upturned burette and hose could be used to accumulate the gases given off. This may still be inaccurate as the steam given off will also be trapped within the burette. To avoid this it could travel through a condenser first in order to extract the steam from other products. With this the total mass of the compound could be found and calculations could be accurate enough to calculate the amount of H2O in the formula.There is also a problem in not knowing when the reaction is finished ex cept by measuring the compound every so often to find when the mass no longer changes. A more accurate set of scales would help with this problem as we could check for when the mass of the compound stops changing by such large amounts, so that we could assume it was the compound that was now thermally decomposing.These errors are mainly to do with Method 1 and so I would again recommend Method 2 as there are far fewer inaccuracies and procedural errors. The only problem factor in Method 2 is human and unpredictable.

James Madison and Benjamin Franklin essays

James Madison and Benjamin Franklin essays James Madison studied both ancient and modern confederacies and decided that the confederacy wouldnt last if it only made rules to direct the state. The confederacy had to be good for the individuals of each state. Madison wrote a paper about confederacies and drew up an outline of a new system of government. This outline became the basis of the Virginia Plan. He supported the use of population in order to give larger states more power. He also recommended that the lower legislature be elected for shorter periods of time. Madison kept careful records of the Convention and took on a leading role in debates. Madison convinced his states delegates to support the constitution even though two Virginia leaders, George Mason and Edmund Randolph, were opposed to parts of the constitution. He also wrote 29 of the papers in The Federalist which was written to convince people in every state to ratify the constitution and spoke in favor of the constitution when Virginia was preparing to vote on ratification. Benjamin Franklin was 81 years old when he attended the Constitutional Convention. Franklin believed that instead of a president that the government should have an executive committee and a single legislature. Even though the things he wanted were not part of the constitution, he made an important speech on the last day of the convention asking everyone to accept the compromises and called for unanimous support of the constitution. When he made a motion for a vote that the constitution to be unanimously passed, his motion was immediately carried. James Madison was a young man when he attended the Constitutional Convention. He had studied and prepared a proposal for the constitution that he wanted used. He took a leading role in the debates and made many speeches in support of the constitution and wrote many articles to help get the constitution ratified. Benjamin Franklin was an old man and was in poor health b...

Vrais Amis - French English True Cognates Letter P

Vrais Amis - French English True Cognates Letter P One of the great things about learning French or English is that many words have the same roots in the Romance languages and English. The 1,700 words on the following pages are spelled (although not pronounced) identically in French and English and are true or semi-true cognates. Before you start memorizing them, please read some important notes about these cognates.The (parentheses) indicate the words part of speech in both languages, and, in the case of nouns, the gender of the noun in French.palindrome  Ã‚  Ã‚  (masculine noun)palpable  Ã‚  Ã‚  (adjective)palpitation  Ã‚  Ã‚  (feminine noun)panache  Ã‚  Ã‚  (masculine noun)panda  Ã‚  Ã‚  (masculine noun)panorama  Ã‚  Ã‚  (masculine noun)pantomime  Ã‚  Ã‚  (feminine noun)papa  Ã‚  Ã‚  (masculine noun)paparazzi  Ã‚  Ã‚  (masculine noun)paprika  Ã‚  Ã‚  (masculine noun)papyrus  Ã‚  Ã‚  (masculine noun)parachute  Ã‚  Ã‚  (masculine noun)parade  Ã‚  Ã‚  (feminine noun)paranormal  Ã‚  Ã‚  (adjective)paraphras e  Ã‚  Ã‚  (feminine noun)parasite  Ã‚  Ã‚  (masculine noun)parasol  Ã‚  Ã‚  (masculine noun)pardon  Ã‚  Ã‚  (masculine noun)parent  Ã‚  Ã‚  (masculine noun)parental  Ã‚  Ã‚  (adjective)partial  Ã‚  Ã‚  (adjective)participant  Ã‚  Ã‚  (adjective masculine noun)participation  Ã‚  Ã‚  (feminine noun)partisan  Ã‚  Ã‚  (adjective masculine noun)partition  Ã‚  Ã‚  (feminine noun)passable  Ã‚  Ã‚  (adjective)passage  Ã‚  Ã‚  (masculine noun)passion  Ã‚  Ã‚  (feminine noun)pastel  Ã‚  Ã‚  (adjective masculine noun)pastoral  Ã‚  Ã‚  (adjective)patience  Ã‚  Ã‚  (feminine noun)patient  Ã‚  Ã‚  (adjective masculine noun)patio  Ã‚  Ã‚  (masculine noun)patois  Ã‚  Ã‚  (adjective masculine noun)pause  Ã‚  Ã‚  (feminine noun)payable  Ã‚  Ã‚  (adjective)pectoral  Ã‚  Ã‚  (adjective)pedigree  Ã‚  Ã‚  (masculine noun)penchant  Ã‚  Ã‚  (masculine noun)penny  Ã‚  Ã‚  (masculine noun)pentagonal  Ã‚  Ã‚  (adjective)perceptible  Ã‚  Ã‚  (adject ive)perception  Ã‚  Ã‚  (feminine noun)percussion  Ã‚  Ã‚  (feminine noun)perfection  Ã‚  Ã‚  (feminine noun)perforation  Ã‚  Ã‚  (feminine noun)performance  Ã‚  Ã‚  (feminine noun)permanence  Ã‚  Ã‚  (feminine noun)perspective  Ã‚  Ã‚  (feminine noun)persuasion  Ã‚  Ã‚  (feminine noun)pertinence  Ã‚  Ã‚  (feminine noun)pertinent  Ã‚  Ã‚  (adjective)perversion  Ã‚  Ã‚  (feminine noun)pestilence  Ã‚  Ã‚  (feminine noun)pH  Ã‚  Ã‚  (masculine noun)phallus  Ã‚  Ã‚  (masculine noun)phase  Ã‚  Ã‚  (feminine noun)philodendron  Ã‚  Ã‚  (masculine noun)phosphate  Ã‚  Ã‚  (masculine noun)phosphorescent  Ã‚  Ã‚  (adjective)photo  Ã‚  Ã‚  (feminine noun)photon  Ã‚  Ã‚  (masculine noun)phylum  Ã‚  Ã‚  (masculine noun)physique  Ã‚  Ã‚  (masculine noun)piano  Ã‚  Ã‚  (masculine noun)picaresque  Ã‚  Ã‚  (adjective)piccolo  Ã‚  Ã‚  (masculine noun)pickpocket  Ã‚  Ã‚  (masculine noun)pidgin  Ã‚  Ã‚  (masculine noun)pigeon  Ã‚  Ã‚  (masculine no un)pigment  Ã‚  Ã‚  (masculine noun)pigmentation  Ã‚  Ã‚  (feminine noun)pipeline  Ã‚  Ã‚  (masculine noun)piranha  Ã‚  Ã‚  (masculine noun)pirate  Ã‚  Ã‚  (adjective masculine noun)pivot  Ã‚  Ã‚  (masculine noun)pixel  Ã‚  Ã‚  (masculine noun)pizza  Ã‚  Ã‚  (feminine noun)pizzeria  Ã‚  Ã‚  (feminine noun)placebo  Ã‚  Ã‚  (masculine noun)placement  Ã‚  Ã‚  (masculine noun)placenta  Ã‚  Ã‚  (masculine noun)plantation  Ã‚  Ã‚  (feminine noun)plaque  Ã‚  Ã‚  (feminine noun)plasma  Ã‚  Ã‚  (masculine noun)platitude  Ã‚  Ã‚  (feminine noun)plausible  Ã‚  Ã‚  (adjective)plumage  Ã‚  Ã‚  (masculine noun)plural  Ã‚  Ã‚  (adjective)plus  Ã‚  Ã‚  (conjunction)podium  Ã‚  Ã‚  (masculine noun)poignant  Ã‚  Ã‚  (adjective)police  Ã‚  Ã‚  (feminine noun)polio  Ã‚  Ã‚  (feminine noun)polka  Ã‚  Ã‚  (feminine noun)pollen  Ã‚  Ã‚  (masculine noun)pollution  Ã‚  Ã‚  (feminine noun)population  Ã‚  Ã‚  (feminine noun)pore  Ã‚  Ã‚  (masculine no un)port  Ã‚  Ã‚  (masculine noun)portable  Ã‚  Ã‚  (adjective masculine noun)portion  Ã‚  Ã‚  (feminine noun)portrait  Ã‚  Ã‚  (masculine noun)pose  Ã‚  Ã‚  (feminine noun)position  Ã‚  Ã‚  (feminine noun)possession  Ã‚  Ã‚  (feminine noun)possible  Ã‚  Ã‚  (adjective masculine noun)postal  Ã‚  Ã‚  (adjective)postnatal  Ã‚  Ã‚  (adjective)posture  Ã‚  Ã‚  (feminine noun)potable  Ã‚  Ã‚  (adjective)potassium  Ã‚  Ã‚  (masculine noun)potion  Ã‚  Ã‚  (feminine noun)prairie  Ã‚  Ã‚  (masculine noun)prescription  Ã‚  Ã‚  (feminine noun)prestige  Ã‚  Ã‚  (masculine noun)primate  Ã‚  Ã‚  (masculine noun)primordial  Ã‚  Ã‚  (adjective)prince  Ã‚  Ã‚  (masculine noun)principal  Ã‚  Ã‚  (adjective masculine noun)prison  Ã‚  Ã‚  (feminine noun)probable  Ã‚  Ã‚  (adjective)procession  Ã‚  Ã‚  (feminine noun)proclamation  Ã‚  Ã‚  (feminine noun)procuration  Ã‚  Ã‚  (feminine noun)production  Ã‚  Ã‚  (feminine noun)profession  Ã‚  Ã‚  (fe minine noun)profit  Ã‚  Ã‚  (masculine noun)profitable  Ã‚  Ã‚  (adjective)profusion  Ã‚  Ã‚  (feminine noun)programme (UK)  Ã‚  Ã‚  (masculine noun)progression  Ã‚  Ã‚  (feminine noun)prohibition  Ã‚  Ã‚  (feminine noun)projectile  Ã‚  Ã‚  (masculine noun)projection  Ã‚  Ã‚  (feminine noun)prologue  Ã‚  Ã‚  (masculine noun)promenade  Ã‚  Ã‚  (feminine noun)promotion  Ã‚  Ã‚  (feminine noun)pronominal  Ã‚  Ã‚  (adjective)propagation  Ã‚  Ã‚  (feminine noun)propane  Ã‚  Ã‚  (masculine noun)proportion  Ã‚  Ã‚  (feminine noun)propulsion  Ã‚  Ã‚  (feminine noun)prose  Ã‚  Ã‚  (feminine noun)prospectus  Ã‚  Ã‚  (masculine noun)prostate  Ã‚  Ã‚  (feminine noun)prostitution  Ã‚  Ã‚  (feminine noun)prostration  Ã‚  Ã‚  (feminine noun)protection  Ã‚  Ã‚  (feminine noun)protestation  Ã‚  Ã‚  (feminine noun)proton  Ã‚  Ã‚  (masculine noun)prototype  Ã‚  Ã‚  (masculine noun)provenance  Ã‚  Ã‚  (feminine noun)proverbial  Ã‚  Ã‚  (adjective)pr ovidence  Ã‚  Ã‚  (feminine noun)province  Ã‚  Ã‚  (feminine noun)provincial  Ã‚  Ã‚  (adjective)provision  Ã‚  Ã‚  (feminine noun)provocation  Ã‚  Ã‚  (feminine noun)prude  Ã‚  Ã‚  (feminine noun)prudence  Ã‚  Ã‚  (feminine noun)psoriasis  Ã‚  Ã‚  (masculine noun)public  Ã‚  Ã‚  (adjective masculine noun)publication  Ã‚  Ã‚  (feminine noun)punk  Ã‚  Ã‚  (adjective masculine / feminine noun)purge  Ã‚  Ã‚  (feminine noun)purification  Ã‚  Ã‚  (feminine noun)

Economics of Sports Projects Assignment Example | Topics and Well Written Essays - 500 words

Economics of Sports Projects - Assignment Example streak since probability if making a hit after three misses is 83.3% which is higher than the probability of making a hit after three hits with a probability of 50%. The calculated correlation coefficient is negative. This therefore does not show evidence of the hot hand. Given a player has made one or two hits; their opponents will usually try to improve their defensive mechanism on the particular player and therefore take away the players successive shooting streaks. Defensive strategies can be the probable cause for the negative correlation between successive hits. The evidence suggests existence of hot hand. The Z statistic reported above test the significance of the variation between the expected and the observed number of runs. There is always a significant difference between the expected value and observed value for individual players. Run tests performed on each player within individual games reveal compelling results. Considering the 76ers and their opponents, data obtained of 727 basketball players show game records of more than two runs. When the observed number of runs and expected number of runs are compared there is no sufficient evidence to provide any basis for rejecting the hot hand hypothesis. Clearly 13.55% calculated is less than 13.6% tabulated therefore we accept the null

Stress Management Assessment Term Paper Example | Topics and Well Written Essays - 750 words

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Humanities 425 Essay Example | Topics and Well Written Essays - 1000 words

Humanities 425 - Essay Example Lennox, but still she is able to handle it by busying herself with her passion, that is for agriculture. In the fifth chapter, we notice the change in Mary's disposition as she wanders the moor (page 58). Mary has always known of her connection with nature. She amuses herself by tending to her gardens in India. But back in India, she was kept hidden and deprived of the outdoors. In Misselthwaite Manor however, she was left to roam as she pleased. Both the climate and the landscape presented a determining influence upon her health and well-being. Revelation: Finally knowing the truth that has always been told. Nature gives warnings before natural calamities occur. She also provides cure for diseases of both man and animal. But then, nature can reveal herself only when man is ready to heed her. Chapter eight tells of a gust of wind that brought about Mary's discovery of the door to the secret garden (page 95). It is in that garden that the real improvement in Mary starts to appear. She has changed for the better. She even selflessly shared to Dickon her secret. Renaissance: Starting Anew from an Epiphany. Nature is a part of us and we are a part of nature. Human life cannot be sustained, let alone achieve well-being, apart from the resources of nature. For this, nature must be man's object of moral concern. Colin Craven used to be very frail and ill-tempered. ... Renaissance: Starting Anew from an Epiphany. Nature is a part of us and we are a part of nature. Human life cannot be sustained, let alone achieve well-being, apart from the resources of nature. For this, nature must be man's object of moral concern. Colin Craven used to be very frail and ill-tempered. But when he was shown the garden, he felt very determined to live (page 267). He feels that the garden was especially made for him. He even decided to spend everyday there to aid in his recovery. The human race is made up of differing ideals. Righteous to some may be utterly unacceptable to others. Let us look at the least appropriate relationship man can have with nature. Superiority Complex: A Misconception The Patriarch and a Tiger, a 13th century painting , shows a rather dominating man leaning on a sleeping tiger. Man is not the master of all creation. He is just an overseer. He is allowed to take only what he needs. He is tasked to take care and not to exploit. The greedy beings of the human race use man's superiority in intellect as a lousy excuse to consume nature's resources in order to feed their lust for money and power. This misconception is yet again stated in the book Utopia by Thomas More, "a living according to Nature, and think that we are made by God for that end (Traveling,pg. 48)". To appoint oneself such power over nature is such a disgraceful and even arrogant act. Absolute Knowledge: A Fool's Belief The book Utopia by Thomas More has this certain passage, "They knewastronomy, and were perfectly acquainted with the motions of theheavenly bodies, and have many instruments, well contrived and divided, by which they very accurately compute the course and positions of the sun, moon, and stars (Traveling,pg. 46)". When man starts to think

Marine management Essay Example | Topics and Well Written Essays - 750 words

Marine management - Essay Example Issues such as reduced productivity and heightened risks to injury in the work environment can all result from the aforementioned issues, dealing with them and preventing the engagement of employees to them is imperative. The rate at which companies lose money through countless health benefits to stressful and fatigued staff is alarming. Healthy employees need less health benefits and are very productive. Managers and heads of companies alike need to figure out how to curb this menace. Work related injuries are on the increase and are always recorded high when most workers work overtime and have less break to reduce the fatigue or engage in activities that can reduce the levels of stress. My company, as this paper discusses below, has already developed countermeasures to the above problems. The changes we have realized can not only be told through the fulfillment of all participants in the company but also through the profits we have accrued in the recent past. There are several causes of both fatigue and stress as listed below. Fatigue itself is caused by extended periods of physical or even mental exertion with less time to recover through rest. Normally, a certain level of fatigue is normal, however, when the levels are too high, there can only be too much disadvantages. These levels of fatigue can be as a result of the following: High levels of fatigue and stress normally leads to reduced productivity. This is generally the biggest problem with the two. Also, since stress and fatigue may impair a person’s sense, including that of danger, employees run risks of accidents and injuries in the work environment. Studies show that staying awake for over 17 hours has as much negative effects on the overall performance of an individual’s performance as having about 0.05% alcohol content in blood. An extra four hours doubles the alcohol content figure to 0.1% (Williamson et al. 320). It is crucial to point out that both employees and

US Domestic Direct Investment in 2014 Essay Example | Topics and Well Written Essays - 1250 words

US Domestic Direct Investment in 2014 - Essay Example There is ease to which goods and services across the United States national borders. This has made the United States embrace globalization since it is essential for all the economies that rely on data. These flows have been facilitated policies that govern taxation, migration, trade and those that regulate. But the United States would be at the losing end if they did not practice the investment in the local country. There is a need for investment at home so as to be successful in the global market as a full partner. The direct domestic investments include the networks of digital communication, infrastructure, education, and research. The additional investment regions are content, security, production of energy and product development. Domestic investments increase productivity, new jobs, higher incomes and more chances that ensure economic mobility. Direct domestic investment is therefore important so as we get the economic growth that we desire. The year 2014 was characterized by a major portion of investment being experienced from the private companies. The gross direct domestic investment in the first quarter of 2014 was estimated to be about $ 2.952 trillion. This is an improvement from the previous quarter that had a gross of $ 2.905 trillion. This is also a great improvement from the $2.745 trillion in the previous year. This data shows that there has been a steady increase in the direct domestic investment in America as per the year 2014. This is characterized by changes of 1.62%.  

Professional certificates of software engineering Research Paper

Professional certificates of software engineering - Research Paper Example There are a number of reason for which certification is crucial or needed for software engineers and the field of software engineering. One of the benefits of certification is that skills of the engineers become widely acceptable, which is in relation to quality of service and skills. As a result, the skills of a software engineer can be verified and deemed to meet the expected standards or even be below. In addition, it creates proper job opportunities for all interested parties with certification as organization employ people with credentials, as opposed to those without (Compucert n.d.). This is because credentials are always verifiable and reliable as opposed to actual practice, which could be inadequate and time consuming to prove one’s worth at engineering. In addition, certification creates a benchmark for the software engineering market through which people can be gauged in terms of their skills (Tripp 2002, p.32). Certification has as many downsides as it has upsides, which affect the role of certification and its outcomes. One such is that it is an expensive process for one to undergo since it consumes numerous resources, both financially and in time. There are also many certifications that a software engineer can receive putting the industry at loggerheads as to which is superior, or more recognized than the other. In addition, no set and regulated curriculum of software engineering program exists, which makes it difficult to discern proper qualifications against those that fall short of requirements (Wyrostek 2001). Different organizations provide certifications for software engineers in order to create a trustworthy market for software and ensure quality. One such organization is QAI global that certifies engineers in software quality, testing, quality analysis, software project management and software business analysis among others (Software Certifications n.d.). Another organization that

Marine management Essay Example | Topics and Well Written Essays - 750 words

Marine management - Essay Example Issues such as reduced productivity and heightened risks to injury in the work environment can all result from the aforementioned issues, dealing with them and preventing the engagement of employees to them is imperative. The rate at which companies lose money through countless health benefits to stressful and fatigued staff is alarming. Healthy employees need less health benefits and are very productive. Managers and heads of companies alike need to figure out how to curb this menace. Work related injuries are on the increase and are always recorded high when most workers work overtime and have less break to reduce the fatigue or engage in activities that can reduce the levels of stress. My company, as this paper discusses below, has already developed countermeasures to the above problems. The changes we have realized can not only be told through the fulfillment of all participants in the company but also through the profits we have accrued in the recent past. There are several causes of both fatigue and stress as listed below. Fatigue itself is caused by extended periods of physical or even mental exertion with less time to recover through rest. Normally, a certain level of fatigue is normal, however, when the levels are too high, there can only be too much disadvantages. These levels of fatigue can be as a result of the following: High levels of fatigue and stress normally leads to reduced productivity. This is generally the biggest problem with the two. Also, since stress and fatigue may impair a person’s sense, including that of danger, employees run risks of accidents and injuries in the work environment. Studies show that staying awake for over 17 hours has as much negative effects on the overall performance of an individual’s performance as having about 0.05% alcohol content in blood. An extra four hours doubles the alcohol content figure to 0.1% (Williamson et al. 320). It is crucial to point out that both employees and

Professional certificates of software engineering Research Paper

Professional certificates of software engineering - Research Paper Example There are a number of reason for which certification is crucial or needed for software engineers and the field of software engineering. One of the benefits of certification is that skills of the engineers become widely acceptable, which is in relation to quality of service and skills. As a result, the skills of a software engineer can be verified and deemed to meet the expected standards or even be below. In addition, it creates proper job opportunities for all interested parties with certification as organization employ people with credentials, as opposed to those without (Compucert n.d.). This is because credentials are always verifiable and reliable as opposed to actual practice, which could be inadequate and time consuming to prove one’s worth at engineering. In addition, certification creates a benchmark for the software engineering market through which people can be gauged in terms of their skills (Tripp 2002, p.32). Certification has as many downsides as it has upsides, which affect the role of certification and its outcomes. One such is that it is an expensive process for one to undergo since it consumes numerous resources, both financially and in time. There are also many certifications that a software engineer can receive putting the industry at loggerheads as to which is superior, or more recognized than the other. In addition, no set and regulated curriculum of software engineering program exists, which makes it difficult to discern proper qualifications against those that fall short of requirements (Wyrostek 2001). Different organizations provide certifications for software engineers in order to create a trustworthy market for software and ensure quality. One such organization is QAI global that certifies engineers in software quality, testing, quality analysis, software project management and software business analysis among others (Software Certifications n.d.). Another organization that

In the name of the father Essay Example for Free

In the name of the father Essay Often a film conveys a message about a character through various film techniques. This is true in the film â€Å"In The Name of the Father†. This story is mainly about a young man who is arrested for a crime he did not commit and how a relationship between father and son deepens throughout the tragedy. The main character, Gerry Conlon, is first portrayed to the viewer as an unruly rebel but is later developed into a more docile and compliant character. The director, Jim Sheridon, uses film techniques such as costume design, dialogue and extended metaphors to convey the development of Gerry as a character. 1st paragraph: -1st time we see gerry, scruffy, uncut -costume design baggy jeans, long hair, dirty appearance -gives idea that gerry doesn’t care about his appearance or what people think of him -as film progresses he sharpens up appearance -combed pulled back hair 2nd: -change also shown through dialogue -lawyer asks him if he is scared of the court: -he replies â€Å"i just don’t want to be humiliated again† -this brief piece of dialogue shows that he has now changed and does care what others think of him -helps viewer understand how desperate an innocent man can be in the fight for justice 3rd: -use of extended metaphor -viewer sees lawyer gareth pierce driving through a long tunnel while listening to gerrys story -this could be viewed as an extended metaphor for the long dark road gerry has gone down while fighting the legal system -as the story draws to a conclusion she reaches the end of the tunnel, or the ‘light at the end of the tunnel’ -could refer to the point in the story where gerry and the others are finally set free. Read more:  My Father Goes to Court by Carlos Bulosan

Impact of interest rate changes on bank profitability

Impact of interest rate changes on bank profitability Over the years, banking system in Pakistan shown enormous growth and potential. The performance and stability indicators showed significant improvement in the profitability of banking system. But now a days banking sector going under pressure. Such as liquidity crunch and solvency problem have significant impact on the performance of banking sector and economy. The financial institution could have managed the situation without any trouble if they have sufficient amount of liquidity available to fulfill their obligation. Since they are operating in very tight market conditions. So, they are forces to pay attractive rates to depositors to attract liquidity. Although the State Bank of Pakistan reduced the Cash Reserve Requirement (CRR) and Statutory Liquidity Requirement (SLR) on demand and Time Liabilities to ease the liquidity in the market. The governments instead of developing their own recourses empower banks to generate money and then borrow from banks. The huge amount of borrowin g from banks by the government its disturbing the economy. The government not only curtails its borrowing from banks but also put some sort of check on power of money. All these factors have combined to set a stage where lending rates are high and having great amount of burden on banks financials. The amount of non performing loans increased at rapid speed despite of heavy amount of provision created by the bank in recent years. The increasing asset quality concerns would force the banks to book heavy provisions for non performing loans (NPLs). The stability of the banking system is conditional upon the stability of overall economy. A stable macroeconomic environment contributes to effective and efficient growth of saving and investment decision. Appropriate macroeconomic measures should support the functioning of the banking system more specifically in the areas of financial stabilization, transparent fiscal policy and monetary policy. The major contributor role of effective and efficient growth in the economy is played by the State Bank of Pakistan and provides guideline to the financial institution to play their role in the development by mobilizing the resources of the economy and facilitating the investors. The success of a bank also depends on the ability to forecast and avoid risk, to cover the losses brought about by the arisen risk. Profit is the important requirement of a competitive banking institution and the cheapest source of funds. It is essential to see it not simply as a result, but also a necessity for successful banking in a growing competition on financial market. These important facts together are the reason for this to focus on the current topical issue of banks profitability. We will highlight problems which are influencing on banks effectiveness and efficiency to manage their portfolio such as assets and liabilities in aiming at to achieve profitability and identify the areas where it might have possible room for raising the bank profitability. Banks assets are grouped into two categories earning assets and non earning assets. Earning assets means those on which banks earns interest income and non earning assets means those which used for the purpose reserve requirem ent, fixed assets to run day to day operational activities. In this study we have focus on earning assets. This included Placement and lending to financial institution, investment in securities and loan advances. These assets are the major source of income for bank. Therefore, it is apparent that average income generation ability of these assets has a decisive influence on the banks profitability. As financial intermediary, banks play a vital role in the operation of most economic development. The efficiency of financial intermediation can also affect the economic growth. Banks are different from other firms in that they provide financial services, the reward to which is an interest rate, and the most of the funding are financed by the deposits or borrowing, the expense of which is also an interest rate. Interest margin, the difference between what a bank has earns on its earning assets and what is paid to depositor. It has been on upward trend during the last decade. An increase in the spread would affect the depositor or the borrower or both stand loose at same time. The lack of alternate avenues of financial intermediation aggravates the adverse impact of spread. For example, if the State Bank of Pakistan based on the monetary policy change the interest rate. Then the change in the interest rate influences the cost of capital that in turn affects the level of consumption an d investment decision. If the increase in the spread is due to decrease the rate to depositors then this discourage the saving, and alternatively if due to increase the rate it would have adverse impact on investment. Therefore, these changes in the interest rate have important implication on the economy. Banks are more sensitive to interest rate changes than most of the other institutions. The effect of interest rate changes on banks profitability has been an important issue for banking system. It has been argued that bank exposure to interest rate risk perhaps the most important issue in participating the saving and investment crises. 1.2: Problem Statement The impacts of interest rate changes have a significant impact on the bank profitability. When interest rate changes it would result in increase or decrease in the interest income of the bank and also have adverse affect on depositors saving and borrower investment decision. 1.3: Objective This research aims to study the impact of interest rate changes on banks profitability based on the following variables directly affecting the banks profitability Interest rate Balances with other banks Deposits accounts Lending to Financial Institution Investments Loan Advances 1.4: Research Scope and Limitation The scope of this research is to find out the impact of interest rate changes on banks profitability. There are few limitation involved in the study. The sample selection consists of five major banks. Which covers the 57% market share of the Pakistan banking industry. The basis for calculation of income is KIBOR rate. The banking system starts using as benchmark as KIBOR rate from 2002 onward. Therefore, our study period is 2003 2008. 1.6 Chapter Summary The banking sector shown enormous potential in previous years. Banking sector achieved high profitability and economy was stable. But from 2008 onward banking sector going through a financial crises such as liquidity and solvency problem. To control the uncertain condition of the country. The central bank reduces the Cash Reserve Requirement and Statutory Liquidity Requirement. So, banks have more liquidity to fulfill their obligations. On the other hand Central Bank increases the discount rate to control the money supply in the market. Which result in higher interest rates. Due to the increase in interest rate and financial crises borrowers default ratio increase and financial institution suffer large amount of losses during the period. This increasing amount of asset quality concerns would force the bank to book heavy provision for non performing loans (NPLs). The stability of the banking system is dependant on the economy. A stable macroeconomic condition will contribute to effect ive and efficient growth of saving and investment. Banks play as role of financial intermediary in the development of economy. If the central bank made any change in the monetary policy it will affect the performance of financial institution. Then the changes in the interest rate will affect the saving and investment. If the spread increases due to decrease in the rate to depositor then it will discourage the depositor and alternatively if due to increase in the rate to borrower then it will affect the investment decision. Therefore, banks are more sensitive to interest rate changes then the other institution. The effect of interest rate has been todays most important issue for banking sector. Chapter 2: Literature Review The study of Flannery, (1981) showed that large banking organizations (1978 assets greater than $2 billion) are well hedged against interest rate fluctuations. The large banks made necessary adjustment to avoid interest rate fluctuation by revising the repayment schedule rate as per the agreement with customer to minimize their interest rate risk. The some of the borrower pay quarterly, half yearly and annual payments. So, as per the agreement schedule bank revise the rates which minimize the risk of bank. When market rate change, the large banking organization made necessary adjustments to avoid interest rate volatility in revenue and cost. The mostly organization have mis matched balance sheet such as they borrow from customer and financial institution at shorter period or maturity and give lending to customer and financial institution at longer period. It would create mis match between balance sheet. Therefore, banks are exposing to interest rate risk and liquidity risk. To avoid the liquidity risk the banks develop relationship with financial institution to overcome their liquidity problem on immediate basis and for interest rate they minimize the risk by revising the interest rate of the contract as per the agreement. The finding of this article suggests that most bank posses a sufficient range of assets and liabilities choices to avoid the risk. This study employs annual data from the federal Reports of Income and Condition on individual insured banks in continuous existence from 1960 through 1978. Twelve banks were chosen at random from the national population in each of five asset size categories (based on year-end 1978 assets): less than $25 million, $25- 25-49.9 million, $50-99.9 million, $100-299.9 million, and greater than $300 million. Holding company subsidiary banks were excluded from the first four size million, $100-299.9 million, and greater than $300 million. Holding company subsidiary banks were excluded from the first four size groups; 3 banks above $300 million were included regardless of their subsidiary status, since large independent banks may not be representative of the population Flannery, (1983). In this study data collected from the federal report of income and condition f rom 1960 to 1978. Population of Twelve banks randomly chosen for analysis and break into 5 different assets size categories on the basis of 1978 assets: less than $25 million, greater than $25 and less than $49.9 million, greater than $50 and less than $99.9 million, greater than $100 and less than $299.9 million and greater than $300 millions. In this study holding companys subsidiary excluded from first four groups and greater than $300 million includes the subsidiary banks of holding company and regression techniques had been used in the analysis. The result of the study showed that commercial banks groups are substantial exposed to interest rate risk and individual bank choose alternatives to avoid such risk. Bank possess sufficient amount of funds available in the form of assets and liabilities to minimize those risk and try to get productive results. The study of Barajas et.al (1999) showed that a key variable in the financial system is the spread between lending and deposit interest rates. When it is too large, it is generally regarded as a considerable impediment to the expansion and development of financial intermediation, as it discourages potential savers with low returns on deposits and limits financing for potential borrowers, thus reducing feasible investment opportunities and therefore the growth potential of the economy. The key point of financial institution is the spread between Loan and deposits rate differences. When the lending rate is high and deposits rate is low then which results in higher the profitability for the financial institution but on the other hand it will discourage the depositor. Because the depositors getting low return on their savings and also discouraging for the borrowers because the financial institution charging high interest rate. If the financial institution doing the same then it would red ucing the saving confidence on depositor and borrower will try to avoid to borrow from financial institution. Which resulting in reducing the investments opportunities because the saving money not contributing to the economy. Financial system of developing countries showing larger spread difference as compare to the developed countries. Based on the balance sheet and profit loss information the author derived two data base. One data base developed on basis of quarterly data from 1974-1988 and other on the basis of monthly data from 1991-1996. In the period 1974-1980 the spread between loan and deposits increasing steadily and then start decreasing during the period 1981-1988 reached to 19 percent and again decreased during the period of 1991-1996. The evidence provided by the author clearly suggest that the during 1974-1980 spread increased and then during the 1981-1990 significantly decreased. This showed that the loan quality during the period remained stable and reserve ratio re quirement decreased and consistent spreads and cost lower the productivity of the state bank. A study of Maisal, Robert (1978) showed that financial markets is the degree and rapidity with which financial institution react to new information and shift funds among asset and liability classes so as to equalize marginal cost and returns. Many analysts assume that markets are efficient, that transaction and information costs are negligible or unimportant, and that borrowing and lending hedging and arbitrage are simple and available at or close to risk free rates. As a result, they believe that they can successfully predict the results of all types of markets actions and reactions without concern for institutional forces. The financial markets are so efficient that they get rapidly information and on the basis of information they are making quick decision regarding the fund management such as assets, liability, cost and income. When all the information readily available then it reduces the cost and increase efficiency of transaction such as hedging and arbitrage without taking any risk on the basis of available information analyst predict their results of any market without considering the forces. The study conducted by author on the basis of cost and revenue of cross section banks during the period 1962-1975 estimation made on the basis of net rate of income and cost of book value of assets. The net rate is the difference between the gross revenue from assets minus cost of asset and rates are net of servicing, processing and overhead cost. The result showed that major shift occurred during the period of 1970-1975. Net returns of assets considerably differ when computed on the basis of average. The study of Demirgà ¼Ãƒ §-Kunt, Harry (1999) showed the differences in interest margins and bank profitability reflect a variety of determinants: bank characteristics, macroeconomic conditions, explicit and implicit bank taxation, deposit insurance regulation, overall financial structure, and underlying legal and institutional indicators. A larger ratio of bank assets to gross domestic product and a lower market concentration ratio lead to lower margins and profits, controlling for differences in bank activity, leverage, and the macroeconomic environment. Foreign banks have higher margins and profits than domestic banks in developing countries, while the opposite holds in industrial countries. Also, there is evidence that the corporate tax burden is fully passed onto bank customers, while higher reserve requirements are not, especially in developing countries. The study showed that variation between spreads and profitability comprised of various determinants. Such as economic condi tions, regulations and financial structure. As the banks have a high ratio of asset with respect to gross domestic product and have small profit margin and banks profits. Because of debts and economic conditions. Foreign banks usually have greater margin of profits as compare to the local or domestic bank in the developing countries and different outcome for industrial countries. This study also evidence that corporate tax had a direct burden on the bank customer because bank transfer the tax burden to their customer while reserve requirement of central bank doesnt not have a significant effect on banks. The data collected at the level of banks for 80 institutes and period comprised of 1988-1995 on the size and decomposition of banks spreads and profits. Regression technique had been used to find out the determinate of interest rate spreads and banks profitability. Taxation and regulation have big impact on bank customer and overall bank position. The banking system varies from coun try to country around the world in size and composition and structure. All banks have different influence of macroeconomic conditions, regulation and market conditions. Several countries data had been used for analysis to find out the bank characteristics and conditions which affect the banks performance such as interest margins and profitability. Some variable have positive relationship with each other and some of them have a negative relationship with each other i.e. reserve ratio to profitability. The study of Samuelson Paul A, (1945) showed that the banking system as a whole is not really hurt by an increase in the whole complex of interest rates. It is left tremendously better off by such a change. If a bank were a university, nobody would doubt that it would be made better off by an increase in the interest rate. At worst, it could continue to hold all existing gilt-edge securities to maturity and be no worse off. As these matured, the proceeds could be invested at higher rates with a resulting increase in income. It would be better off in the sense that ceteris paribus it could hire more teachers per year, spend more money on buildings and stadia, and engage in more research. The only exception would be in the limiting and unrealistic case where all its money was invested in perpetuities. But even here it would be no worse off. In every other case it would be better off. The increase in the interest rates usually not affects the performance of bank, its actual effect on th e borrower. When the interest rate increases then borrower will bear the effect of increase interest rate. But it would not affect the bank performance .The reason is that the bank pay low return to depositors and charge more to borrower as interest rate increases. So, both depositor and borrower will bear the cost. In this article author taken the example of university. If this loan given to the university it certainly impact on the university performance because of increase in the interest rates. As the interest rates increases it would become more costly for the university and difficult to pay to the bank on time. The increase in the interest rates would not hurt university as its decreases capital value. This change would have a better impact on university. The study of Coleman George W, (1945) showed that the banking system would recover these losses over a period of time, the length depending upon the maturity distribution. During that period, it would be frozen in to a given maturity pattern. The earnings of the banking system upon the existing portfolio would increase. He states that immediately after interest rates have risen and capital values have scaled down, all parts of the portfolio, old as well as new, began to earn the higher rates. The rise in the interest rates bank can come up with some loss on the portfolio such as investing in the securities of longer period. The bank can recover this cost over the period of time and get desired returns and also increase in the capital of the bank. When the investment is carried at cost then it would amortize cost. It means banks amortize the investments over the period of agreement until it becomes zero. When the interest rate rise it would have immediate effect and bank re-prices the portfolio on the current interest rate and gets benefit of the opportunity. The objective of the study to find that increase in interest rate would not a sufficient impact on banks. Its directly influence on the saver or borrower. Which ultimately result in decrease in saving and investment. The management of bank continuously monitoring and updating their portfolio policies to minimize such risk. The study of Khawaja, Musleh, (2007) showed that Interest spread of the Pakistans banking industry has been on the rise for the last two years. The increase in interest spread discourages savings and investments on the one hand, and raises concerns on the effectiveness of bank lending channel of monetary policy on the other. The interest rate spreads in banking sector on the upward move. When the interest rate increases its discourages the depositor and borrower. Such as saving and investments. Banks giving low returns to depositors which results in discouragement and getting high return from borrower by charging high interest rates inclusive of spreads. Spreads are much high in Pakistan. When spreads taken into account ultimately the interest increase and banks gets high returns on lending and investments. The depositor not has any other option to save his money and also the strict requirement of SBP capital requirement. The industry has rapidly merger and acquisition. This results in decrease in the option for saving. In this study author used data of 29 banks. Variant model had been used to check variables relationship. The results showed that inelasticity in deposits supply have positive impact on interest rate spreads. To lower the spread margin central bank play a vital role to reduce the spread and other alternative would be the financial intermediary which lower the spreads. The study of Chirwa, Montfort, (2004) highlighted the importance of financial liberalization in facilitating economic development and growth. While there is no complete agreement on the removal of financial repression, usually characterized by control of interest rates, imposition of credit ceilings, and credit rationing, leads to significant amelioration of growth prospects, the dominant view is that financial liberalization and growth usually go together. Financial liberalization had a great influence on improving the economy and increasing growth. There is no certain agreement made on the financial repression. The management made certain tool and polices to control the interest rate impact on credits. Such as by applying tool of checking limits and there purpose of credit extension. The good control over the interest rate would have a significant on the performance of economy and growth of the country. Financial liberalization and growth of the economy work to gather and run head to head and boost the development of economy. The determinants of interest spread and bank profitability have been often used in the model. In portfolio choice bank trying to maximize their good portfolio. This maximizes the profitability of the banks. Bank usually made feasible choice of assets and liabilities with respective tenor interest rate. This study used monthly panel data from banking system between 1989-1999.the findings of that study showed that the after liberalization the interest rate significantly increased. The main cause of that increase was the increase in nonfinancial cost, provision for doubtful debts, taxation and variation in the inflation rates. The study of Marisel Peter, (2002) showed that in the world of endogenous money, the central banks role in monetary policy is reduced to the setting of a very short term official rate of interest, which indicates the price at which it will make liquidity available to the banking system. However; it is changes in market rates that affect behavior; and so the ability of the central bank to influence anything at all depends, first, on the interaction between official and market rates. In this paper, we use a vector autogressive error correction model to explore the response to changes in the central bank rate of three short-term market rates that have been featured previously in this journal in debates about the demand for endogenous money. The main responsibility of the state bank is to control or reduce the rates which affect the price and liquidity of the banking system and affect the availability of liquidity of the banking organizations. The fluctuation in the market interest rates will affect the function of the banking system and as well as the behavior of the consumer and economy. In this study autoregressive correction model had been used by the author to find out the responses of interest rates changes and its effect. When spread between Corporate Government bond increases then the market assume that the risk on the bond increases. When they see then they try to predict the coming slowdown and recession in the economy. After testing they have found that it would have a positive effect on the economy. They have used the Autoregressive model to test the fluctuation in prices and interest rates. The result of the paper showed that the short term interest rates have a significant impact on the banking system as compare to the long term interest rates. Short term interest rates were the major instrument of the monetary policy of the central bank. In monetary policy central bank advice the interest rates which would affect the banking system as well as the ov erall economic activities of the country. 2.1: Chapter Summary The impacts of interest rate changes have a significant impact on the bank profitability. When interest rate changes it would result in increase or decrease in the interest income. The Pakistan banking industry use Karachi Interbank Offered Rate (KIBOR) for earning assets to find out the interest income. The major portfolio reprice on 6 M KIBOR. Bank is exposing to interest rate risk. But usually bank hedge against interest rate risk to minimize its impact on bank performance. The major impact of interest rate changes would affect the depositors and borrowers. Because when interest rate changes it would discourage the saving and investment decision.