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Ability to communicate effectively in the workplace Licenses Forklift license Binomial license Driving license Over head crane license Traffic control license Excavator license skid steer license white card Skills Good technical knowledge Ability to diagnose faults Ability to work unsupervisedExperience in the repair and maintenance of mobile equipment heavy vehicles Experience with American and Japanese drivels Trailer servicing and repairs experience Diagnostic skills Own tools Able to work in a team environment and independently. Flexible with hours. Attention to detail. Ability to demonstrate safe work practices Full understanding of operation and maintenance procedures of all site equipment Maintaining the workshop to a high standard Liaise with other staff members and suppliers Work well in a team, show initiative and be responsibleAccurate record keeping Able to travel when required Personal Qualities Ability to work independently Punctual Motivated Organized Education 2004 â €“ 2007 Year 11 Subjects: English Mathematics Religious Education Catholic Regional College College Completed Systems Technology Visual Communications & Design Wood Technology 2008 – 2012 Trade School Certificate Ill in Automotive Mechanical Technology and Automotive Mechanic Heavy Vehicle Mobile Equipment TAFT: Kananga Batman Safety basic procedures Apply emergencies procedures Charge and test batteriesComplete repairs to circuit wiring Repair instruments and warning system Test components and identify faults Apply correct lubricants fluids handling technique Carry out serving operations Test cooling system and analyze results Prepare to service diesel fuel system components Prepare equipment/engine for use and storage Service manual transmissions Inspect semi automatic transmissions Test hydraulic system and analyze results 2007 – 2008 Certificate II Engineering Studies TAFT Apply principles of OH&S in work environmentPlan to undertake a routine task Use power to ols/hand held operations Develop individual career plan Use hand tools Perform basic machining processes Use computer for engineering work acts Perform basic computational principles Employment History 2012 – 2013 Operator mobile equipment & mechanic Full time Duties: Central Bobcat Hire Operate machinery Traffic control Excavating Labouringly Workshop duties Fully serviced & repaired machinery 2008 – 2012 Diesel Mechanic Mobile Equipment Service and repair all site mobile equipment

Analysis of Internationalisation Strategy Tesco and Lidl Essay

Question 1: Globalisation has, in the last few decades, been one of the dominant trends in retailing. Retailers around the globe are striving for higher global market shares. The food retailing industry which has an oligopolistic market, especially, has strong competition although, with a few large firms dominating the market. Among them Tesco and Lidl are one of the major European retailers. Tesco is the UK’s largest retailer with 28.7% market share, which is 11% more than its closest rival, ASDA (Statista.com, 2015), and is the 5th largest retailer in the world (Deloitte, 2015). And Lidl is the main retail chain (accounting for more than 70% of its sales) of Schwarz group, which is the 4th largest retailer in the world (Deloitte, 2015). Both of these firms are based in Europe with Tesco being a British firm and Lidl a German. These firms are similar not only in their revenues and market shares but also in the generic strategy they have adopted. In terms of business operation, both firms follow Porter’s cost leadership strategy. However, Tesco also incorporates the differentiation strategy (Baroto et al., 2012), hence pursuing a hybrid strategy combining the two, while Lidl solely follows the no-frills cost leadership strategy (Geppert et al., 2015). Both these firms have internationalized in different countries around the globe. Lidl has mainly focused its internationalisation in the European markets, while Tesco, in addition to expanding in different eastern European countries, has also started its operations in drastically different markets such as South Korea, China, India and The USA. However, they have followed different strategies in their modes of entry into foreign markets, with different levels of success. The decision to and the outcome of internationalisation for these two firms have depended on different factors like government regulation, availability of the factors of production, their business operation strategy and so on. One of the main criteria for internationalisation for firms is to possess some sort of competitive advantage, in order to overcome the threats and difficulties usually associated with entering into a new foreign market (Vernon 1966). Lidl being a discounter has a huge advantage in terms of price compared to other supermarkets and hypermarkets. As a result of its no-frills strategy, Lidl can significantly reduce costs in different stages of its logistics and supply chain. Entering into a new country has a lot of challenges and firm  size is one of the things a firm must consider when choosing a country for internationalisation. If th e firm does not have significant market share in its domestic market, it will find it difficult to maintain its operations in foreign markets. In Lidl’s case, they have built a very strong domestic market and therefore, had a strong foundation for further expansion to foreign markets. From Lidl’s previous Foreign Direct Investments, it is evident that that the firm has adopted both acquisition strategy as well as Greenfield investment. However, it has mostly focused on Greenfield investments (Nayak, 2011). Greenfield investment, which entails starting the operations from scratch, gives firms more freedom in selecting their business strategy in terms of choosing suppliers and managing logistics etc. This market entry strategy allows firms to fully utilize their company-specific advantages (Ando, 2005). One of the reasons Lidl chooses this strategy as their international mode of entry, is because of its consistency with their business model. Lidl, like other hard discounters, follows a global standardised strategy (Bartlett & Ghoshal, 1989), where majority of the decisions are made by the corporate headquarters, in things like variation of product assortment, design of store outlets or policies and procedures and there is very little localisation (Geppert,201 5). This allows Lidl to implement its own strategic model into a new business in a foreign market. However, in addition to centralizing the strategic aspect of the business, they also centralize some physical aspects of it. â€Å"A global retail strategy relies on standardization to achieve economies of scale and of replication. This means that in different countries similar product lines, distribution system, communication, service level and store design are used† (McGoldrick 2002). Lidl’s business strategy includes a standardized supply chain which allows it to efficiently operate its business in different countries and also provides an economies of scale. Upon entering a foreign market, they set up regional distribution centres (RDCs) to service a significant number of their stores in a certain region. They source their products (except perishables) through their headquarters in Germany and those products are distributed through the RDCs to their respective regional stores. Each of the RDC is linked to a regional management headquarters and they supply around 60 a nd 120 stores (Geppert, 2011). Through this kind of horizontal FDI, Lidl operates in its foreign  markets just as it does in its domestic market. Also, the fact that Lidl has expanded into countries that are geographically closer makes this strategy and business model very effective. This strategy is also consistent with the gravity model of bilateral trade which states that volume of trade is inversely proportional to the distance between the countries and directly proportional to the size of the economies. Lidl’s operating countries are geographically closer to each other and they, as a result, incur less transaction costs, which allows a discounter like Lidl, to adhere to its cost leadership strategy in its foreign markets as well. Moreover, Germany’s central location in Europe as well as it being the largest economy in Europe increases the prospect and efficiency of trade. Furthermore, due to Lidl’s choice of internationalisation strategy, factor abundance plays an integral role, especially in terms of land and space. Greenfield investment requires land to build new stores or the availability of already built stores. â€Å"Discounters’ stores are standardized not only in neighbouring markets, but worldwide, which allows for efficient in-store processes† (Warschun, 2011). Therefore, Lidl which follows a similar standardization strategy, requires specific sizes of land and stores in different parts of the country it wants to expand to. An exception in this case is Sweden, which is geographically a bit farther relative to other countries. Lidl, establishing a Greenfield investment, built their own warehouse in South West of Sweden, however, the warehouse was still served by the same logistics firm used by Lidl in Germany, Pape (Nyberg, 2007). This still allowed for the standard distribution process to be implemented, as Pape is already familiar with Lidl’s business model and distribution modes. Government policies, in both domestic and foreign markets, also have a significant effect on food retailers and their decision to internationalise. In 1968, a retail planning policy was devised in Germany in order to protect the small stores by limiting the size of stores outside city centres and special zones (Geppert et.al, 2015). This helped discount stores like Lidl by stopping bigger competitors from introducing huge supermarkets and hypermarkets. As a result, Lidl gained a significant portion of the market share in the German food retailing market. This strong position in their domestic market meant they had the resources and the motivation to expand  into other markets and a strong domestic presence also benefits Lidl’s centralised business model. Since then, Lidl has expanded rapidly, mostly in European markets, and the number of Lidl stores in Lidl’s major operating countries can be seen from the table below. The table above shows that the total number of stores Lidl had in 2011 in its foreign markets is three times its number of stores in Germany, its domestic market. This shows that Lidl’s endeavours in foreign markets have been successful as majority of their international efforts have resulted in a profit. Lidl doesn’t publish country-by country profit figures, although, its turnover in the UK in 2012, which was  £202 million, increasing by around 40% in the five years since the recession hit (Gibb, 2013), shows that it is making a profit. In 2012, Lidl’s overall profits were up by 37% (Kantarretail, 2012). This can partly be attributed to the recession, because of which the demand for cheaper discounted goods increased, however, it can also be attributed to Lidl’s mode of entry into new markets and its business strategy which takes into account the local culture of the community and country in its foreign markets. For example: Lidl locally sources its pe rishable food products in the UK locally and uses it as its marketing strategy to attract local consumers and to create a friendly brand image. Similarly to Lidl, Tesco also has a very strong presence in its domestic market as it is the market leader in the UK. Being among the top five retailers in the world, Tesco has stores in various countries in Asia and Europe. After achieving rapid growth and gaining the highest market share in the UK, the move to enter foreign markets was part of Tesco’s disciplined international growth strategy (Tesco Annual Report, 2014). Tesco has also adopted Horizontal Foreign Direct Investment in most of its international expansions, usually acquiring existing retailers in foreign markets and implementing its own business strategy like undercutting competitors and introducing own brand products and its club card scheme and so on (corporatewatch.org, 2004). For example: Tesco’s acquisition of American company K-mart’s stores in Czech Republic in 1996 (tescoplc.com) and it currently has more than 300 stores there (Tescopoly.org) Tesco’s first  attempts at internationa lisation were not very successful as their acquisitions of relatively small supermarket chains in Ireland and France were divested soon after acquisition (Geppert et al., 2011). Tesco, then changed their strategy in acquisitions by acquiring larger foreign firms rather than smaller ones. In addition to the acquisition of K-mart in 1996, they acquired 26 S-Mart stores in Hungary in 1995, and ventured into the Irish market again in 1997, this time acquiring the market leader Associated British Food (ABF) (Geppert et al. 2011). As they grew Tesco has favoured large hypermarkets for its international stores rather than supermarkets, since in most countries it is easier to get planning permission for these than it is in the UK. (corporatewatch.org, 2004). One of Tesco’s main strategy in internationalisation has been to understand the market and operate in accordance with the local shopping culture to build better relationship with the consumers as well as suppliers. This is much easier to achieve in choosing acquisitions or joint ventures than through Greenfield investments. Through acquisitions, as a result of the knowledge of local customs and associations on part of the acquired firm, the investing firm can take advantage of pre-existing business network with suppliers and distribution chains. It also takes over the brands (in some cases), the reputation and the existing market share of the acquired firm and this can result in a stronger market presence very quickly (Marinescu & Constantin, 2008). Therefore, using an entry strategy suitable with a lot of market research, Tesco has had success in its foreign expansion in European markets. Some examples include its operations in Hungary, where they strongly focus on local suppliers and 85% of their sales are through local products and In India where they operate a scheme to donate to local charities and organisations (tescoplc.com). The following table with Tesco’s number of stores in 2011, shows that unlike Lidl, Tesco has more stores in its home market compared to all of its international inves tments and the proportion of sales is higher in its domestic market as well since it brings in about two thirds of its total revenues from its home market (Thomas et al., 2013). Contrary to its success in the European markets, Tesco has recently suffered some major setbacks in internationalisation in Asian markets like Japan and  China, and the US. Tesco entered the US market in 2007 and instead of using their tried and tested approach of acquisitions or joint ventures, they preferred to adopt a different strategy and entered the market by establishing a new wholly owned subsidiary as a Greenfield investment. This meant that they did not possess the local knowledge about the market and consumer behaviour. In addition, they initially filled their management positions with mostly British expats instead of hiring locally (Silverthorne, 2010). Competing as a new business in a highly oligopolistic market requires a strong strategy and considerable market research and knowledge about the consumer base so, a lack of that meant Tesco could not entice American consumers. Moreover, their timing of internationalisation was also unfortunate as recession had seriously effected Tesco’s chosen states of California, Nevada and Arizona. Tesco is estimated to have made more than  £1 billion in accumulated loss (Finch & Walsh, 2012). Similarly, also in China in 2013, Tesco had to fold its unprofitable business into a state-run company as a minority partner; this was attributed to a difficulty foreign companies like Tesco, have in negotiating with suppliers and regulators in a fast-growing but tricky market. Furthermore, Tesco also withdrew from the Japanese market in 2012 in a â€Å"move that follows decisions to†¦ focus on investing in its British home market† (Thomas et al., 2013). Tesco’s exit from Taiwan can be credited to low factor abundance, as all the most attractive sites for expansion already been developed or were held under future development option by Carrefour, who had been a well-established retailer in the country. In addition, the highly complex land ownership system was a hindrance for Tesco’s as it obstructed the transfer its skills in site location analysis and property development (Lowe & Wrigley, 2010). However, Tesco has had success in Asia, with Thailand, and South Korea, which is its largest foreign market. Tesco outperformed its global rivals Wal-Mart and Carrefour in South Korea and they were forced to exit the market leaving Tesco as the dominant international retailer there (Lowe & Wrigley, 2010). Tesco had entered both South Korea and Thailand through joint ventures rather than acquisition, this key difference helped the firm massively as the partnerships with local firms offered Tesco the knowledge of local business/regulatory conditions and consumer culture, plus it provided the opportunity to build upon the ‘local’ appeal, especially in  South Korea where Tesco had partnered with Samsung and the use of the name, Samsung-Tesco, proved to be vital (Lowe & Wrigley, 2010). Tesco’s failures in internationalization in some of the Asian and the American markets does show to some extent that geographical distance might have played a part even though the size of the economies involved were quite large. The culture of these markets were very different and as per Krug man’s love of variety model, individuals’ tastes are even more diverse, and Tesco could not adapt to these vastly different markets. In these kind of markets, a joint venture, like it adopted in its Korean and Thai markets, seemed to be the preferable option. Comparing and analysing the strategies of Tesco and Lidl’s shows that, in order to have a successful internationalisation and subsequently continue to have a strong foreign market, the firms must be strong in its domestic market. Both firms use different primary strategy to enter into foreign markets but their internationalisation strategy suits their respective business strategy, as Tesco’s opts for quick growth and seeks to be a market leader in all of its markets usually by acquiring large existing retailers, while Lidl opts for greenfield investments in order to maintain its cost leadership and utilize its standardized supply and distribution chains. Both firms use Horizontal FDI, which does decrease international trade as their services are usually aimed at host country, however, individual governments welcome Horizontal FDI as it boosts the local economy by providing jobs as well as increases competition. In Tesco’s case, it has recently turned its focus on its home market, as it has been losing market share in the UK and two thirds of its revenue come from the UK, however Lidl is growing more internationally and plans to open more stores in its already existing international markets like the UK (Butler, 2014). The world is very small now, especially with the ability to replicate technology easily and the power to move freely between countries. However, the strategies these two forms have used and their effectiveness in different countries show that, although there are fewer differences in consumer cultures and market structures, these differences still matter and play an important role in the success and failure of firms. The ability of a firm to understand the consumer culture is key when it comes to internationalisation. Furthermore, the gravity model does hold to an extent even in the case of internationalisation of firms, as evident from Tesco’s  failure to penetrate most Asian markets they entered compared to their successes in most European markets they ventured into. Tesco’s success in Thailand and Korea shows that a Joint venture with a locally established company would be the ideal mode of entry into risky markets. And a firm’s Internationalisation strategy must also be consistent with its business strategy in order to have a consistent growth in the foreign market after a successful entry. Reference: Baroto, M. B., Abdullah, M. M. B. and Wan, H. L. (2012) ‘Hybrid Strategy: A New Strategy for Competitive Advantage’, International Journal of Business and Management, 7. doi: 10.5539/ijbm.v7n20p120. Bartlett C.A., Ghoshal, S. (1989): Managing across Borders. The Transnational Solution. Boston., Mass: Harvard Business School press Butler, S. (2014a) ‘Lidl launches  £220m UK store expansion programme’, The Guardian, 27 June. Available at: http://www.theguardian.com/business/2014/jun/27/lidl-launches-store-expansion-programme (Accessed: 7 April 2015). Corporate Watch (2004) Tesco Plc, Corporate Watch. Available at: http://www.corporatewatch.org.uk/company-profiles/tesco-plc#international (Accessed: 9 April 2015). Deloitte (2014) http://www2.deloitte.com/content/dam/Deloitte/tw/Documents/consumer-business/tw-cb-retailing2014-en.pdf, Deloitte. Available at: http://www2.deloitte.com/content/dam/Deloitte/tw/Documents/consumer-business/tw-cb-retailing2014-en.pdf ( Accessed: 8 April 2015). Finch, J. and Walsh, F. (2012) ‘Tesco’s American dream over as US retreat confirmed’, The Guardian, 5 December. Available at: http://www.theguardian.com/business/2012/dec/05/tesco-american-dream-retreat-us-fresh-easy (Accessed: 6 April 2015). Geppert, M., Williams, K. and Wortmann, M. (2014) ‘Micro-political game playing in Lidl: A comparison of store-level employment relations’, European Journal of Industrial Relations. doi: 10.1177/0959680114544015. Geppert, M., Wortmann, M., Czarzasty, J., KaÄŸnicioÄŸlu, D., Kohler, H.-D., Rà ¼ckert, Y., Royle, T., Uà §kan, B. and Williams, K. (2011) Work and Employment Relations of European Multinational Grocery Retailers – Discounters and Hypermarkets. Hans-Bà ¶ckler-Stiftung. Available at: http://www.boeckler.de/pdf_fof/S-2009-317-1-1.pdf (Accessed: 6

Analysis Of Stock Market And The Bullion Market - Free Essay Example

Sample details Pages: 9 Words: 2553 Downloads: 7 Date added: 2017/06/26 Category Statistics Essay Did you like this example? This project reexamines the comparative relationship between stock prices and bullion market in India i.e. gold spot prices for 2006-07 to 2009-10. The study looks after the variation of stock market and gold market in India. Don’t waste time! Our writers will create an original "Analysis Of Stock Market And The Bullion Market" essay for you Create order The future of the gold and gold price movements are determined by the perception of gold as a `store of value rather than its fundamentals as a commodity. The precious metals value is also determined by such factors as inflation, interest rates and the presence of lucrative alternative investment avenues in the economy. The comparative relationship tested between the BSE index and spot gold prices of bullion market of India. Gold price is included in the model as an additional variable, to examine whether gold price contain any additional significant information about price movements. Since gold is an important saving instrument in India and is very often used as a hedge against inflation, it is expected that gold may be looked upon as alternative asset for those holding idle money and for speculative purposes. Conceptual definition/key words sensex Bullion Spot gold Introduction to the study This study is an attempt made to find the comparative analysis of the stock market and the bullion market. This study will also indicate the potential of the two asset classes and the scope for investing in India. Stock market A  stock market, or equity market, is a private or public  market  for the trading of company  stock  and  derivatives  at an agreed price; these are  securities  listed on a  stock exchange  as well as those only traded privately. The size of the world stock market is estimated at about $36.6 trillion US at the beginning of October 2008. The  total  world derivatives market has been estimated at about $791 trillion face or nominal value,  11 times the size of the entire world economy.   The stocks are listed and traded on stock exchanges which are entities a corporation or mutual organization specialized in the business of bringing buyers and sellers of the organizations to a listing of stocks and securities together. The  stock market  is one of the most important sources for  companies  to raise  money. This allows businesses to be publicly traded, or raise additional capital for expansion by selling shares of ownership of the company in a public market. The  liquidity  that an exchange provides affords investors the ability to quickly and easily sell securities. This is an attractive feature of investing in stocks, compared to other less liquid investments such as  real estate. Gold market In the last 6,000 years a little over 125,000 tones of gold has been mined. But this history is clearly divided into two eras before and after the California gold rush of 1848. Some calculations suggest that up until then scarcely 10,000 tones of gold had been excavated since the beginning of time. Thus more than 90% of the worldà ¢Ã¢â€š ¬Ã¢â€ž ¢s gold has been produced since 1848. The story of gold is as rich and complex as the metal itself Wars have been fought for it; love has been declared with it. Ancient Egyptian hieroglyphs portray gold as the brilliance of the sun; modern astronomers use mirrors coated with gold to capture images of the heavens.By 325 BC the Greeks had mined for gold from Gibraltar to Asia Minor. In 1848 AD John Marshall found flakes of gold whilst building a sawmill near Sacramento and so triggered the gold rush in California.Held securely in national vaults as a reserve asset, gold has an irrefutable logic; released from the tombs of pharaohs and emperors alike, gold has an undeniable magic. In  Heritage  we describe just some of the key moments from goldà ¢Ã¢â€š ¬Ã¢â€ž ¢s history. Further sections take time to discuss important fundamental issues such as the relationship of  demand and supply, goldà ¢Ã¢â€š ¬Ã¢â€ž ¢s  price history; the  golden constant  and goldà ¢Ã¢â€š ¬Ã¢â€ž ¢s contribut ion to society. Review of Literature: The Sensex and the gold prices for a four year period constituted the database. In a recent study conducted by Steve Saville on à ¢Ã¢â€š ¬Ã…“Gold and the Stock Market during recessionà ¢Ã¢â€š ¬? this study examines the gold and stock markets in the world markets for the periods of recession. The study brought out the performance of the two asset classes during recession for the last 10 recessions. The comparison on the gold and stock market awaits the Indian context based on this the researcher set to examine the same. Research Gap: The Literature review clearly indicates that the studies are carried out in abroad and not much in INDIA regarding the selected topic. Though some of the data is available it is all relating to the last year data and no study is made up to date, comparing both bullion and sensex. Research Issues: To know the variation, volatility, risk and return on BSE Sensex Indices in Comparison with Gold Spot Rates in Mumbai. To analyze the performance of BSE Sensex Indices in Comparison with Gold Spot Rates in India between 2006-07 and 2009-10. To provide information about effect of investing Equity and Gold. Objective of the study Relationship between the stock market and the bullion market. To study the Bombay Stock Exchange and the Gold bullion market. To analyze the stock market and the bullion market in the Indian context. To study the interrelationship among the Bombay Stock Exchange and the Gold bullion market. To formulate strategies for investors to invest in based on trends. SCOPE OF THE STUDY: Comparative relationship between stock prices and bullion market in India i.e. gold spot prices for 2006-07 to 2009-10. Comparative returns on investment in Equity and Gold. Variations in Sensex and Gold Spot rates by Monthly wise, Quarterly wise and Year Wise of Indices of BSE, Mumbai and Spot Gold Rates of Bullion Market, Mumbai with Charts and Graphs. STATEMENT OF THE PROBLEM: The stocks have risk, which comprises of either unique risk also called as diversifiable risk or unsystematic risk and market risk also called non-diversifiable risk or systematic risk. There are few problems, which reveal the necessary to analyze the variation of the equity shares indices and gold spot rates. We can neither predict the risk involved nor the future performance of the stock. Many equities have not performed well due to which investor has incurred losses. Presently study tries to find out the variation, volatility, risk and return on BSE Sensex Indices in Comparison with Gold Spot Rates in Mumbai has been undertaken. METHOD OF RESEARCH DESIGN TO BE USED UNDER THE STUDY: Descriptive Research: In this research an attempt has been made to analyze the past performance of BSE Sensex and Gold Spot Rates of Mumbai that are considered to be leading indicators of the Stock market and Bullion market. The study is to be done to know the variation, volatility of these markets for the past 4 years. The collection of average values of the BSE Sensex indices and Gold spot rates of Mumbai, on a monthly basis for comparison. METHODOLOGY OF DATA COLLECTION: Sampling Type: A Sample is a small representation of lot of population selected at random. The random of drawing a sample form from a large population is called sampling. Sampling data in this study comprised of BSE Sensex Indices and Gold Spot Rates in Mumbai for the period of 2006-07 to 2009-10. Each with monthly average values was taken for the study. SOURCES OF DATA: Primary data:à ¢Ã¢â€š ¬Ã…“Are those which are collected a fresh and for the first time and thus happens to be original in characterà ¢Ã¢â€š ¬? observation and personnel discussion with Internal Guide and External Guide. Secondary Sources of data: The sources of data were only the secondary source as the comparison is done keeping BSE Sensex Indices and Gold Spot Rates. Thus the project did not require any first hand information in the form of primary source. The data were collected through the sources like the www.rbi.org.in for getting the share prices and spot prices of past 4 years. LIMITATIONS OF THE STUDY: The study is restricted to BSE Sensex Indices of Stock Market and Gold Spot rates in Mumbai Bullion Market. The time period for the project was limited and information provided is limited to Internet and Journals. It focuses on every month Average Values during the period from 2006-07 to 2009-10. Results and Discussions: Averages of 2006-07 to 2009-10 Quarterwise Table No.1: Month Indices Spot rate Quarterly difference Quarterly Change in % BSE Gold BSE Gold BSE Gold 2006-07 Q-1 11092 9302 569 1295 5.41 16.17 Q-2 11299 9342 207 40 1.87 0.43 Q-3 13227 8989 1928 -353 17.06 -3.78 Q-4 13662 9328 435 339 3.29 3.77 2007-08 Q-1 13989 8969 327 -359 2.39 -3.85 Q-2 15359 8963 1370 -6 9.79 -0.07 Q-3 19196 10114 3837 1151 24.98 12.84 Q-4 17631 11937 -1565 1823 -8.15 18.02 2008-09 Q-1 16078 12102 -1553 165 -8.81 1.38 Q-2 14127 12370 -1951 268 -12.13 2.21 Q-3 9839 12585 -4288 215 -30.35 1.74 Q-4 9178 14502 -661 1917 -6.72 15.23 2009-10 Q-1 12913 14577 3735 75 40.70 0.52 Q-2 15463 15156 2550 579 19.75 3.97 Q-3 16867 16681 1404 1525 9.08 10.06 Q-4 16916 16607 49 -74 0.29 -0.44 Chart No.1: The above Chart shows that: Totally BSE Sensex has shown upward trend up to Quarter-3 of 2007-08 and there is continuous decreasing trend upto Quarter-4 of 2008-09 due to the Worldwide recession and Economic Slow down in India. Then from Quarter-1, there is great recovery of +92.36% in 2009-10. Totally Gold Becomes costlier by every Quarter gradually and constantly. By Comparison in 2009-10 BSE Sensex has +83.36% more return on investment than Gold. But this increase by BSE Sensex is the recovery of the previous years economic slow down in India and Worldwide recession. Findings: The comparison of the Sensex and the Gold prices for the period of four years from January 2006 to the 31st December 2010 it can be seen that the prices of gold and the Sensex do not follow a same pattern, this is very important to investors as this is indication of two classes of investments that are negatively correlated and investing in both reduces the risk of loss. This is possible through diversification where investing in two different asset classes. From the graph it can be seen that the Sensex rallied from May 2006 from the 9000 level leaving the Gold behind, this continued till January 2008 where the Sensex reached its all time high of 21000. The price of Gold however was in the price range of 9000 to 10000 from July 2006 to December 2007. It is evident that when the stock market started crashing that the Gold prices started soaring and was on a constant upward trend. In the month of September 2008 the prices of the Sensex and Gold went in opposite direction, this is a clea r indication that the two are oppositely correlated. The above graph can be divided into three parts. The first can be year 2006 where the price of Gold and the Sensex moved in the same upward direction till mid May of 2006 where there was a resistance for both the investments and the price came down to the April 2006 mark, then there was a support where the month of June saw the price of Gold and the Sensex at the same level. From August 2006 the price of the Sensex rallied faster then that of Gold to touching a new high of 15000 on the Sensex. The second part of the research period saw the price of the Sensex still rallying in the year of 2007 the same as the end of 2006. The price of Gold continued to rise but on a constant basis and with a gradual increase. The price of the Sensex during the month of September rose on a constant basis to touch a new high of 20500 in the month of December. The next part of the research period 2008 saw the Sensex crash but the price of Gold was not affected with the crash. Wile the Sensex continued t o decline the price of Gold touched a new high in the month of October 2008 of 13000 rupees for every 10 grams. The last part of the research shows that First and second quarter the BSE sensex is seen a bigger growth with 40%and 20% where as at third quarters we can notice gold change is drastic with 10.06% and the last quarter ie up to December 2010 with negligible difference between the two investments. CONCLUSION In this project the researcher set to analyze the comparison between the stock market and the gold market. From the results and analysis that have been conducted, it can be concluded that gold in-deed is a better investment as compared to stock (during the research period) and is a good asset to include in a portfolio for diversification. The combination of the Sensex stock and Gold in a portfolio is also a good investment strategy as these asset classes are both negatively correlated, and this low correlation improves the stability of the portfolio. In the analysis the researcher compared gold to sensex to see the performance of which asset class was good. The results of this comparison showed gold to be a good investment, with an overall higher return. The Sensex is an index composed of 30 multinational companies, thus it has a high market risk. Gold on the other hand is not an index, it is a valuable metal; it therefore has a high unique risk. In the long run, if money was placed in gold and Sensex (2006-2008), it has evidently been seen that the allocation should be around 50% in gold and 50% in the Sensex to obtain an Optimal Portfolio. Thus in the long run, gold has proven to be an efficient investment when combined with the Sensex. With goldà ¢Ã¢â€š ¬Ã¢â€ž ¢s past performance in mind, the researcher would recommend an investor today to hold gold in his/her investment portfolio. This is because of the uncertain environment of today, and due to the high return for gold. The optimal amount to invest in gold could however be questioned. For an investor with a long time horizon, a high amount of gold could be more easily defended than for a short term investor. In the long run, spotted short term deviations have tended to smooth out, to an optimal allocation around 50% in gold. Even though it may be hard to predict, the researcher would still urge investors to own a portion of gold in his/her portfolio today, due to the hi gh return to risk characteristics of gold. RECOMMENDATIONS Based on the findings the researcher would give the following recommendations to investors. An investor should invest in Gold and the Sensex to get maximum returns as both the asset classes are negatively correlated and a good combination for diversification. A 50-50% can be invested in both the asset classes as the loss in one will be compensated in the other which will balance the portfolio, as compared to investing in one and facing huge losses or profits which are not always known. Gold has a tendency to rise in India based on demand seasonally, this is particularly true in the season of marriages, and the researcher would recommend investors to buy Gold in times when there is less demand and sell at the times where demand increases. Stock market is very unpredictable and a company can loose its standing in the economy for the smallest of mistakes or problems faced, but Gold on the other hand will never loose its value and this has been evident for thousands of years and it is even today used as a precious metal. An investor should not invest in Gold for short term but for a long term, as gold in the short term dose not return the same as that of the stock market. If an investor believes in buy low, sell high, gold is still low, but climbing and ità ¢Ã¢â€š ¬Ã¢â€ž ¢s never too late to invest in gold.

The Lost Secret of College Application Essay Samples about Leadership

The Lost Secret of College Application Essay Samples about Leadership The general format of your essay, for example, font size and margins, will solely are based on the instructions offered to you. You'll observe a similar structure in a lot of the essays. A structure can spare you from an appreciable quantity of stress. Don't forget to begin your essay strongit should have the capability to spark the interests of your readers. The way you start your application essay is important to how well it's going to be received. Because you are interested in getting the essay to communicate the ideal information about you, you should do thorough preparation for the sample college admission essays to accomplish its purposes. The essay has become the most important part of a university appllication, see sample essays ideal for applying to schools in the usa. The duration of your essay is not what universities start looking for. Some institutions request an essay about a student's choice of a university or career. Leadership is a huge chance to widen your friend circle, have a great time, and just generally make the the majority of your high school experience. Being a real leader has a lot of responsibility, however, because you may discover yourself in charge of a group of individuals. He helps the workers to perform the given duties diligently. Excellent leaders can communicate in a manner that others can engage with. A Startling Fact about College Application Essay Samples about Leadership Uncovered Essay prompts are intentionally open-ended, and there are numerous strategies to start picking a topic. Before you begin trying to think about the specifics or the structure of your leadership essay, you want to know a bit more regarding the leadership characteristics you've got. Pick a distinctive topic that others may not think of, and whatever you select, make sure that you know a lot about it! For a beginning, the typical application essay topics need you to use language that's totally free from language flaws and grammatical mistakes. The exam was made to ascertain whether you have the wisdom and skill necessary to practice physical therapy with an entry level. Your application essay is able to help you stick out from the remainder of the candidates and get noticed by the admission board. The Common Application lets you apply to more or less 700 distinct colleges. You have to show the admission committee what makes you stick out from the other applicants. A lot of college authorities ask you to compose an application essay before getting an admission. It is very important to capture the interest of the admission tutors irrespective of how strict they may appear to be. More frequently than not, deadlines for submitting applications are almost always short which makes many possible applicants worry they will be unable to submit their sample essay for MBA application in time. The Hidden Gem of College Application Essay Samples about Leadership A superb leader must also demonstrate a commitment to their team. The leadership style aims at making the very best of teamwork inside an organization. A best leadership style is essential for any organization. There are several different styles of leadership and most them are extremely effective, Art. The Appeal of College Application Essay Samples about Leadership Well-done samples give an edu cation in format. It's very valuable to take writing apart so as to see just the way that it accomplishes its objectives. Each individual has a substantial part. An organization which has an efficient internal communication system in place realizes many advantages. The Tried and True Method for College Application Essay Samples about Leadership in Step by Step Detail At precisely the same time, you will impress the college admissions folks greatly if you may present your capacity to learn from your failures and mistakes. All you do on a job isn't likely to be fun, that's reality. Your application should consist of other intriguing things which you would not normally include in the resume. An excellent college application is crucial to getting accepted and taking the very first step towards a career in physical therapy. Colleges can tell whenever your essay is simply a form essay. Or you are able to view 18 essays all on a single page. You don't need to compose a whole es say just to find out you were completely off topic. Our admission essay examples can prove that we're here in order to provide simply the very best assistance to assure you which you submit an application essay you can be confident in. Possessing good essay examples provides the reader an in-depth and on-the-court idea about what a well structured and coherent essay appears like. You don't need to possess the very best writing skills so as to be creative and compose an effective essay. Oftentimes, the most effective essay topic is one which lets a number of your imperfections seep through. Before you even begin writing the content of your college essay, there are a few essay writing basic guide that you always need to bear in mind.

The Real Estate Investment Trust - 1250 Words

Once known as a real estate investment trust (EIT) DMG became managed by two brothers Steven and Mitchell Rales in 1983. Named â€Å"after a favorite fly-fishing locale in Western Montana† , the Rales brothers changed the publicly traded name to Danaher. Steven and Mitchell Rales originally from Bethesda, Maryland used their own finances and borrowed millions to get Danaher afloat. The Rales brothers were not new to such ventures. They previously invested in several businesses including, Master Shield Inc., Equity Group Holdings, and Mohawk Rubber Company of Hudson, Ohio. Within two years of Danaher’s launch, Steven and Mitchell Rales purchased twelve more companies. Danaher’s Corporation went from not having a profit posted since 1975 to being listed as a Fortune 500 company three years after its establishment. In February 1990, Danaher Corporation designated George M. Sherman as the new president and chief executive officer. Coming from Black Decker Cor poration, Sherman was an enthusiastic and passionate CEO. Sherman â€Å"hoped to add strategic planning with a market-driven emphasis to enhance the admirable position of Danaher’s companies, [just as well as] reposition the portfolio towards more attractive, and less cyclical businesses† . Danaher’s portfolio is composed of five strategic business segments: Dental, Life Sciences Diagnostics, Environmental, Test Measurement, and Industrial Technologies. These five platforms represents over 80% of Danaher’s totalShow MoreRelatedThe For Real Estate Investment Trust1115 Words   |  5 Pagesthese trust. This was also reflected in The Union Budget of 2014 to make REITs tax-efficient for domestic and foreign investors. The tax pass-through status refers to the fact that the returns from investments made in these investment vehicles, will only be taxed in the hands of investors, and the REITs will not have to pay any taxes on incomes. For the first time clear cut provisions have been mentioned in the Finance Act to provide for complete new taxation regime for Real Estate Investment TrustRead MoreThe Real Estate Investment Trust2342 Words   |  10 Pages The Real estate is that area of investment which has been used for the purpose of accumulating wealth in the form of assets for more than thousands of years. It has been observed that in the investor’s portfolio that real estate has taken a significant portion in the form of investment asset. Basically, there are two forms of real estate, one is securitized and other is un-securitized. The Unsecuritized real estate is the one that’s mainly associated with the private direct real estate. WhereasRead MoreNotes On Real Estate Investment Trust906 Words   |  4 PagesReal estate investment trust 4.1 Research on REITs Real estate can be divided into two types: direct and indirect real estate investment. Direct real estate investment means investors directly buy and sell property. REIT is an indirect way of real estate investment. REITs is a type of security, it means investors buy shares of a real estate portfolio managed by professional fund manager. Publicly traded REITs and non- traded REITs Many REITs are registered with the SEC( U.S. Securities and ExchangeRead MoreA New Real Estate Investment Trust, By Michael J. De La Merced1558 Words   |  7 Pagesthis would cause a right shift in the demand curve. â€Å"Sears Weighs a New Unit to Hold Some of Its Real Estate†, by MICHAEL J. DE LA MERCED (New York Times NOVEMBER 7, 2014) Summary In an effort to raise cash to offset a steady stream of losses sears chief executive Edward S Lambert unveiled an unusual financial maneuver that it may employ: selling some of its stores to a new real estate investment trust. Sears disclosed that its comparable sales for its domestic locations in the 39 weeks that endedRead MoreReal Estate Investment Trust Case Study1479 Words   |  6 PagesProperty investment incentives There have been a number of initiatives introduced by the Government to try and stimulate investment in the property market. One of the most significant initiatives is the introduction of the Real Estate Investment Trust. A Real Estate Investment Trust is a tax efficient property investment structure. There are a significant number of requirements to be met to establish a Real Estate Investment Trust. Of key significance is the fact that a Real Estate Investment Trust mustRead MoreAn International Real Estate Investment Trust Organization1231 Words   |  5 PagesRayonier Inc. is an international real estate investment trust organization that is committed to creating value and excellence in their core business of forest resources and real estate. Rayonier Inc. was found in 1926 and began its operations in Washington State and currently their headquarters are located in Jacksonville, Florida. Rayonier Inc. uses its forest resources to sell timber to a variety of markets, including pu lp, paper, building products and energy products in the U.S and New ZealandRead MoreInvesting Inside A Qualified Retirement Plan913 Words   |  4 Pages investors enjoy access to the same types as investments as in times past with Real estate, Real Estate Investment Trust s (REIT s), Derivatives, Hedge funds, Currencies and so many more thrown into the mix. Here we will consider Real estate investing, the different types of real estate to consider and why one serves the investor over another as it relates to investing inside a qualified retirement plan. Unlike so many other investments, real estate is unique because it can be leveraged. BanksRead MoreCommercial Real Estate Essay examples973 Words   |  4 PagesCommercial real estate is any property other than a single family home or a residential lot in a neighborhood. The commercial real estate market is handled very similarly industrial and residential real estate markets. The commercial real estate market goes through ups and downs just like any other investment market however investments into commercial real estate can be a very wise decision. Commercial real estate is similar to industrial and residential real estate in that when you buy it you areRead MoreCapital Fund Should Take A Buy Recommendation On Liberty Property Trust Essay1105 Words   |  5 PagesInvestment Thesis Recommendation: The D’Artagnan Capital Fund should take a buy recommendation on Liberty Property Trust. Some of the main reasons for investing are †¢ They are continuing to expand their properties – in 2016-2020 there is a plan to expand the amount of properties that they own. †¢ Able to maintain a stable return on their operating real estate †¢ They continuously are able to lease almost 100% of their properties †¢ They are diversifying where they operate †¢ They have good customerRead MoreThe New Real Estate Investor789 Words   |  4 PagesGreat Starting Ideas For the New Real Estate Investor By David Neese | Submitted On February 08, 2006 Recommend Article Article Comments Print Article Share this article on Facebook Share this article on Twitter Share this article on Google+ Share this article on Linkedin Share this article on StumbleUpon Share this article on Delicious Share this article on Digg Share this article on Reddit Share this article on Pinterest In his interview with me, John Paul Moses, who is the founder of our

Carl Comeaux Essay Example For Students

Carl Comeaux Essay English III/2nd periodMrs. Freyou19, May 03Alice Futral Land stars in many hit films that arepriceless to watch. Lands best film of the year was Dynasty. She wasborn in Los Angeles, where she still lives today. Her dream of becomingactor came true in 1909 at the age of 25. The first film she was in madeher a fashionable wealthy woman. Alice had a brother that plays professional football. Alex is26 and he plays for the Miami Dolphins. He was drafted three years ago inthe first round as running back. Alice and Alex was brought up by theirfoster parents. Their real parents died in a car accident. They wereyoung when their parents died. Alex wanted Alice to meet one of his friends that is on hisfootball team with him. Alice had been looking for Mr. Right but she hashad bad luck with that. So, Alex wants to set up a date with Alice and JimThorpe the kicker for Miami (Reed 267). Alice wants to know more abouthim, so Alex describes his past accomplishments. Jim, a true athlete,competed in Olympics, baseball and football. He first discovered histalent in Track, which he was a Olympic Gold Medalist, in 1916 (Thorpe 2). Then he was introduced to football, which made him famous in 1909 (2). Baseball was his last professional career in 1919. He didnt play long. Alice was anxious to meet him. So, Alice and Jim met at Alexs House. Then, they were going out to eat at Americans Steak House. Alice and Jimwere both attracted to each other. Jim was a real sociable guy, which madeit easier for Alice to get to know him better. After that night, theystarted dating. A year pass, Alice and Jim are walking down the weddingisle getting married. They both were wealthy and deep in love. Theyenjoyed spending time in bars and there camp. Alice became a alcoholicabout six years later. She was stressed over her work and she becameaddicted. Jim tried to get her help but nothing seemed to get her better. Divorce wasnt common but this relationship came to a end (Jennings andBrewster 115). She spent all her money on alcohol and partying. They wentto court and Alice wanted the house, her sports car, and 5 million fromJim. He didnt agree so he hired a lawyer by the name of A.J. Walsh asuccessful intelligent man that never lost a case before (NewfoundlandersMisc.n pag.). They went through court and Jim won the case. Since Jim wasa nice man he sent her a check of 20,000 every month to help her throughher struggles for the next five years. Alice finally seeked help to get her life back on the righttrack after four years of being divorced. Alice and Jim got back togetherand had one little boy, which his dad is training him to become a athletelike he was. Alice also started a Alcohol Awareness program to help otherswith the addiction. Now, they are a happy family with much to look forwardtoo.

Neanderthals Are Not Our Ancestors Essays - Genetic Genealogy, DNA

Neanderthals Are Not Our Ancestors 7-11-97 University Park, Pa. -- A team of U.S. and German researchers has extracted mitochondrial DNA from Neandertal bone showing that the Neandertal DNA sequence falls outside the normal variation of modern humans. These results indicate that Neandertals did not contribute mitochondrial DNA to modern humans, says Dr. Mark Stoneking, associate professor of anthropology at Penn State. Neandertals are not our ancestors. The research also reaffirms the origins of modern humans in Africa. Reporting in today's (July 11) issue of the journal Cell, the researchers detail their methods and the results of analysis of Neandertal mitochondrial DNA. The research team includes Matthias Krings, graduate student, and Dr. Svante Paabo, professor of zoology, University of Munich; Dr. Ann Stone, postdoctoral fellow, University of Arizona; Ralf W. Schmitz and Heike Krainitzki of Rhineland Museum, Bonn, Germany; and Stoneking. Current theory holds that Neandertals became extinct only 30,000 years ago and co-existed with modern humans in Europe. The team, however, found that Neandertals and modern humans diverged genetically 500,000 to 600,000 years ago, suggesting that though they may have lived at the same time, Neandertals did not contribute genetic material to modern humans. Since 1991, an interdisciplinary project of the Rhineland Museum, headed by Schmitz, has focused on the Neandertal-type specimen. This specimen was found in 1856 near Dusseldorf, Germany. As a part of this project, a sample was removed for DNA analysis. The ability to extract DNA from ancient bone is dependent on many factors, including preservation, temperature and humidity, says Stoneking, a faculty member in Penn State's College of the Liberal Arts. Paabo previously showed that even if extracting ancient DNA is possible, it tends to be damaged and degraded, yielding only short fragments. The researchers used a method of overlapping short strands of DNA to obtain a mitochondrial DNA sequence of 378 base pairs. To ensure that errors caused by damaged DNA were not incorporated into the sequence and that modern human DNA did not contaminate the samples, the researchers ran multiple extractions and amplifications. They also sent a sample to Penn State's Anthropological Genetics Laboratory where Stone, then a Ph.D. candidate at Penn State, ran a parallel extraction and amplification of the DNA. To begin amplification, the researchers used two human primers -- small pieces of DNA that match the beginning of the sequence to be amplified. The first two human primers we chose worked, says Stoneking. It turns out this was a lucky choice. To check that the amplified DNA was really Neandertal, the researchers prepared primers based on their extracted sample and ran them on numerous human DNA samples. The Neandertal primers did not amplify any human DNA, says Stoneking. Most human primers would probably not work on Neandertal DNA. The researchers compared the Neandertal sequence with 2,051 human sequences and 59 common chimpanzee sequences. They found that the differences in Neandertal DNA occurred at sites where differences usually occur in both humans and chimps. The changes reflect the evolutionary pattern typical of mitochondrial DNA sequences of living humans and chimpanzees, not that of random damage or degradation, says Stoneking. When the researchers looked at the Neandertal sequence with respect to 994 human mitochondrial DNA lineages including Africans, Europeans, Asians, Native Americans, Australians and Pacific Islanders, they found the number of base pair differences between the Neandertal sequence and these groups was 27 or 28 for all groups. While Neandertals inhabited the same geographic region as contemporary Europeans, the observed differences between the Neandertal sequence and modern Europeans do not indicate a closer relationship to modern Europeans than to other contemporary human populations, says Stoneking. The researchers used phylogenetic tree reconstruction -- a method that uses mitochondrial DNA to place individual groups in relative relationship -- to check the results of their pair-wise DNA comparisons. The trees show that the Neandertal sequence branches before the divergence of the various human mitochondrial DNA lineages, but after the split from chimpanzees. This phylogenetic tree also shows that the first three branches of humans are of African origin, with only the fourth branch showing non-African sequences. The branching pattern indicates that the ancestor of the mitochondrial DNA gene pool of contemporary humans lived in Africa, says Stoneking of Penn State. The researchers are confident with their results, but they caution that they are derived from