Green Capitalism Essay Example for Free

Green Capitalism Essay Green Capitalism is a new approach for resolving the problem of environmental destruction while ensure the sustainable development of capitalism practices (Bess, 2000). The world is witnessing the effects of global warming. In addition, economic sustainability remains a major concern by the global community. Based on this, green capitalism concept dictates for use of green energy sources to support the economy (Bess, 2000). By ethics of care, individual humans must protect the environment for the good of the whole community. Critics have blamed capitalism for its exploitation of available resources without concern of the negative environmental implications of the same (Beaufoy, 1993). From an ethical point of view, green capitalism concept is quite limited in its practicability due to the fact that capitalism by its nature seeks to maximize profits regardless of associated consequences (Beaufoy, 1993). On the other side, green practices dictate for protection of the environment and its ecosystem. Thus, the theory of green capitalism remains a conflict between caring for the environment and maximization of capital (Beaufoy, 1993). True to the letter, the world is claimed to have enough renewable resources to sustain its population. Nevertheless, most of these resources like solar, wind, and tidal energies are unpredictable for supporting our current economic energy requirements. Still, the green capitalism concept advocates for reduced consumption of anti-green products in the community (Bess, 2000). This has an ethical implication of harming the global market capital, a claim that has been blamed for economic meltdown (Beaufoy, 1993). As a solution to these real concerns on green capitalism theory, there is need having in place other models of addressing the problem of environmental pollution. Just to note, the effects of capitalism are permanent trends that cannot be reversed if capitalism prevails. References Bess, M. (2000). Greening the Mainstream. Environmental History, 5, 12-18. Beaufoy, H. (1993). Case Study: The Green Office in Britain: A Critical Analysis. Journal of Design History, 6, 9-14.

International Mergers Essay Example for Free

International Mergers Essay Recent years have seen waves of mergers and acquisitions occurring in the international arena. Whilst the nature of such M A activity has enlarged from being mostly IT focussed in the 1990s to include other areas like consumer goods, automobiles, and metals in the 2000s, its intensity remained unabated until the onset of the global financial crisis in 2008. Although M A activity in the domestic space has continued to occur despite the high failure rate of such initiatives, international M A s face the additional challenge of having to overcome issues of different national cultures. The recent break-up of Daimler Chrysler evidences the difficulties that such initiatives face and the enormous harm that can occur if they do not work. This dissertation attempts to investigate the numerous challenges that confront the managements of the two concerned organisations, the hazards posed by such challenges, and the measures that can be adopted to overcome them. Table of Contents Serial Details Page Abstract 2 1. Introduction 5 1. 1. Background and Overview 5 1. 2. Definition of Problem 8 1. 3. Aims and Objectives 12 2. Literature Review 14 2. 1. Motivation for International M A Activity 14 2. 1. 1. Strategic Objectives 14 2. 1. 2. Other Drivers of International Mergers and Acquisitions 18 2. 2. The Cultural Context 20 2. 2. 1 National Culture 20 2. 2. 2. Organisational Culture 23 2. 2. 3 The Impact of Culture on International Mergers and Acquisitions 25 2. 2. 4 Overcoming Cultural Differences in International Mergers and Acquisitions 32 3. 0 Research Methodology 38 3. 1. Research Questions 38 3. 2. Choice of Research Methodology 38 3. 3. Quantitative and Qualitative Methods 39 3. 4. Choice of Methodology 41 3. 5. Primary and Secondary Data 41 3. 6. Ethics 42 4. 0 Data Collection 43 5. 0 Findings and Analysis 48 6. 0 Conclusions 52 Bibliography 53 1. Introduction 1. 1. Background and Overview Corporate mergers and acquisitions (M A) are an accepted form of external growth and are becoming increasingly common with time. With business corporations having realised the benefits of M A activity in terms of growth in sales, increase in capacity, accessing of new markets, obtaining of technology and skills, acquisition of brands, savings in costs, and achievement of synergies in areas of sales, production, and costs, it forms an integral component of the objectives and strategies of most forward looking and ambitious business firms (Gaughan, 2002). Two decades of globalisation, along with progressive development of technology, intensification of competition, increasing pressure on costs, and the continual emergence of new equal skill/ lesser cost production and service centres in Asia, East Europe, and South America are accentuating the need for consolidation and for achieving leadership in costs and quality, the basic tenets of Michael Porter’s theory of competitor advantage (Gaughan, 2002). Such developments are also increasing the number of companies searching for appropriate M A opportunities. The enormous changes that have taken place in the global, economic, political, and trade scenario have added another dimension to the issue of M A activity, that of international mergers and acquisitions (IMA). These pertain to those mergers and acquisitions that take place beyond the borders of specific countries and which are also known as global or cross border M As. The collapse of the Soviet Union, the crumbling of the Berlin Wall, the emergence of East European countries, the formation of the European Union, and the dismantling of trade barriers led to a significant increase in M A activity between European countries. Apart from the remarkable developments in Europe, the last two decades also saw a wave of trade liberalisation and economic and financial reforms sweep through the developing world, and the emergence first of China and then of India on the global economic scene, bringing with them huge markets, strong production and service skills and cheap costs (Gaughan, 2002). With western businesses having realised the import of the enormous business opportunities that are constantly being generated on a global basis, the lid has been taken off IMA activity, which is now increasing furiously, particularly in the USA, the UK, and Europe. â€Å"While USA has always been the pioneer in merger and acquisition activities, UK too has registered high levels of mergers and acquisitions. With the European countries gaining momentum in mergers and acquisitions, international mergers and acquisitions also received a major boost. † (International Mergers and Acquisitions, 2009) IMA is taking place in â€Å"different forms, for example horizontal mergers, vertical mergers, conglomerate mergers, congeneric mergers, reverse mergers, dilutive mergers, and accretive mergers† (International Mergers and Acquisitions, 2009). Whilst IMAs are also driven by the same motives as regular M A activity, international M A helps companies in accessing markets in distant lands, allows companies to build global competitive advantage, and otherwise leads to build up of Foreign Direct Investment. IMA activity is also far more complex than regular M A actions because of the presence of far greater complexities that arise from companies having to deal with different political structures, governmental regulations and policies, economical situations, and investment and other laws (Gaughan, 2002). Despite the presence of such obstacles, international M A activity was gathering pace until the onset of the financial crisis, which has effectively put all commercial and business activity in a state of suspended animation. â€Å"2006 was a record year for acquisitions worldwide when, for the first time, the annual value of these transactions exceeded US$ 4 trillion, and cross-border acquisitions alone amounted to a record high of US$ 1. 3 trillion (Larsen, 2007). This trend continues in 2007, given that the transaction value of global acquisitions in the first three months of the year reached US$ 1. 13 trillion, setting up a record for the busiest first quarter in acquisition history. † (Rottig, 2007) The size of North American IMA activity increased practically by 100 % in 2006 to USD 242 billion from USD 132 billion in 2005. The value of IMA deals in Europe in 2006 touched USD 451 billion (Rottig, 2007). Whilst the most of IMA activity took place in the US, it was followed by the UK and Germany (Rottig, 2007).

Massimo Dutti Marketing Analysis

Massimo Dutti Marketing Analysis Massimo Dutti was founded in 1985 as a company whose main activity was the sale of fashionable mens clothing. Ten years later, the commercial format was bought by the Inditex Group (Industria de Diseà ±o Textil S.A.), one of the worlds largest fashion distributors, who owns brands like Bershka, Pull and Bear and Zara. The Inditex Group as a whole has more than 4,530 stores in 74 countries in Europe, the Americas, Asia and Africa. The group also partially and wholly owns more than a hundred companies related with the different activities in the business of textile and fashion design, manufacture and distribution. Its unique management model, based on innovation and flexibility, and its vision of fashion has resulted in fast international expansion and an excellent performance of all its commercial formats. Today, Massimo Dutti has more than 490 stores in 41 countries. The company entered UK in 2003 with its first store in London. The new megastore occupied three floors of a building placed in downtown Regent Street, which had more than 2,000 square meters of business area. Massimo Dutti offers quality international fashion design for men, women and children, with a variety of collections that range from sophisticated urban fashions to casual wear. Its universal design connects with independent urban men and women whose lifestyle portrays an impeccable image. During 2008 Massimo Dutti extended its assortment of complements and accessories to help customers find the small details that mark the difference in style and add the finishing touch to the desired look. Highlights in this product extension are the new line of eye and sunglasses, The Eyewear Collection, with more models for men and women, and the launch of a new womens perfume, En Esencia. The company also added the childrens line in 2008 which includes collections for boys and girls and was launched in Paris. During the same year, the chain entered six new countries: Poland, Romania, Czech Republic, Slovenia, Guatemala and Israel. It also continued its expansion in the Asian Pacific region, opening its second store in Hong Kong, in Harbour City, one of the citys main shopping areas. With this establishment, Massimo Dutti now has three stores in China, where it opened its first store in 2007 in Macao. In total they opened 44 new stores in 38 new countries to develop their international presence. (Appendix B.1, B.2, B.3) This report examines the environment in which the company is situated. The macro environment covers the trends in the changing environment and how they could potentially affect the Massimo Dutti supply chain. It also suggests various opportunities and threats that the company may have to face. The second section of the report analyses the various stakeholders i.e. the suppliers, consumers, competitors etc in under the micro environmental analysis. The third section of the report analyses the internal environment and includes the supply chain analysis, the marketing resources, financial resources and the human resources employed within the organisation. The report concludes by suggesting a strategic direction the company should take in order to reach its full potential. Macro Environment Analysis Massimo Dutti being a global organisation is affected by a number of macro environmental factors. These factors are the basis on which a company develops its understanding of the markets, business position and the strategic direction for its operations. In recent years the macro environment has been increasingly being put into consideration because of higher marker volatility, the global slowdown and the economic recession. These factors not only pose a great threat to businesses but can also create many opportunities which a company can identify and take advantage of. For instance, if a business is able to assess its current environment and predict potential changes, it will be better placed in its marketplace than its competitors to respond to changes in the environment. Thus understanding and operating with the macro environment i.e. the external environment in which the business operates, is increasingly becoming the key to organisational success as it can help to maximise opportunities and minimise threats which the organisation faces. In other words a macro environment scanning can help us to identify various opportunities and threats in the organisation. There are a number of macro environmental factors which affect the UK clothing retail market. These factors are known as the PEST factors or the political, economic, social and technological factors which help the scanning of the environment. (Appendix A.1) (P)olitical Environment The clothing retail sector in the UK has seen a number of changes in their political environment in recent years. The first change is the recent expansion of the EU territory which has facilitated import and export amongst various countries within the EU. As a result of this trade between these countries legal agreements and setting up new operations and stores has become more attractive than ever. For Massimo Dutti it translates to wider markets and a wider consumer base both within and outside the UK. This type of an impact is visible in a long term with a positive and increasing impact to the company. The second change is the change in interest rates and government taxation which is the result of the global economic recession. The government has implemented a range of measures to stabilise the financial markets and stimulate the economy including part-nationalisation of some banks, VAT cuts, and suspending public sector borrowing rules. Also In March 2009, the Bank of England cut interest rates to a record low of just 0.5% where they remain at the time of writing. The government also gave the go-ahead for the more drastic policy of quantitative easing in an effort to kick-start the economy. (Appendix A.2) The impact of this government policy has resulted in a higher degree of disposable income in the hands of the consumer and has thus facilitated the retail sector. On the other hand when interest rates eventually start to rise they could do so quite suddenly and sharply thereby increasing the risk of less spending on mid-market luxury retailers like Massimo Dutti. (Appendix A.3) (E)conomic Environment- Recession the UK Clothing Retail There have been numerous amounts of economic changes since 2007 which are the result of the global economic slowdown and the recession. Until recently the British economy was enjoying the longest period of growth and had outpaced most of the rest of Western Europe. But the global economic downturn, tight credit and falling house prices brought the UK into the recession in the back half of 2008. This economic downturn resulted in a change in the economic factors that affected the UK retail sector as a whole. The fashion industry in particular has been more vulnerable to such a downturn than other retail settings. Due to the recession the economy has shown frequent fluctuations in the currency rates. This change has affected the retailers as they have absorbed these fluctuations. This is because they are situated in a price-led market i.e. have to provide competitive prices in the market to survive further putting more pressure on their profit margins. Also due to the decrease in the disposable income of the consumers only the cheap fashion / fast-fashion sector has benefited. Companies like Pennys, Primark and TK max have recorded highest sales due to the recession. The implications of such a trend are that less money is spent on designer clothes as well as accessorises. Consumers may stop spending on high end luxury brand and accessories and go in for fast-fashion clothing thereby posing a risk to Massimo Dutti. It can also be noted that spending on clothing has reduced than compared to other spending sectors. The global economic slowdown has impacted heavily on clothing retailers as it has hit consumers willingness and ability to spend on discretionary items. Thus companies like Massimo Dutti may face a slowdown in sales volumes. Unemployment has climbed consistently since mid-2008, reaching 7.8% by Q2 2009 and it could rise to over 10% in 2010. Youth unemployment (18-24-year-olds) exceeded 17% by the second quarter of 2009 and in the short term will continue trending upwards. This impacts heavily the purchasing power of those concerned and hence reducing an important market segment for mid-market luxury retailers. (Appendix A.2, A.4) (S)ocial Environment- The Changing Demographics The social environment relates to consumer attitudes and opinions towards different product types and brands in the marketplace. It also relates to changes in consumer behaviour and their demographics i.e. age, sex, gender, family size etc. Changes in social trends can impact on the demand for a firms products and the availability and willingness of individuals to work. Thus it is very important for the firm to identify these factors and translate them into opportunities and get rid of all potential threats. A large number of consumers have changed the way they shop for clothes and in the main those changes involve cutting back in some way by spending less, by mostly buying discounted lines, or by buying from value retailers or less expensive shops. According to a research by Mintel over one in four people have not changed their shopping habits for clothes since the recession started but many consumers have, and the most significant changes are all savings-related i.e. spending less, shopping around more, not buying at full price, buying more from value or less expensive retailers. (Appendix A.5) This cutting back on expenditure by the consumer means that they wish to spend more on value retailers rather than mid-market luxury retailers. According to Mintel the mid-market segment has also squeezed as a result of a price-led consumer market. For instance mid-market players like like-for-like and Dorothy Perkins have gone down in sales. Like-for-like traded down 2.4% in the Q1 of year 2009-10 and Dorothy Perkins was still heavy with summer markdowns when rivals were relatively clean with new autumn ranges. Gaps international quarterly sales to August 2009 dropped by 5% which is an important competitor for Massimo Dutti. Other mid-market players like HM and MS have traded up as they are price-led retailers. (Appendix A.6) On the other hand high-end designer buyers tend to buy more from the mid-market than from the upmarket high street retailers as a result of the ongoing recession. This is because of lack of particular brand loyalty, financial inability to buy everything from designer brands and the tendency of buying basics (i.e. T-shirts, jeans etc) from the mid-market retailers. (Appendix A.9) Another trend in change is that the 25-54s have traded down the most amongst all other consumer age groups. This age band has been among the worst hit by the recession because of their larger financial commitments. This age group is the main target market for Massimo Dutti and hence affect the company sales the most. (Appendix A.7) Because of a combination of various above discussed factors customers are much more likely to now buy more from familiar brands/shops they trust. (Appendix A.8) (T)echnological Environment The technological environment consists of changes in technology related to the manufacture, sourcing, distribution or sales of a various components of products in that industry. A change in technology for various processes in the industry sometimes creates barriers to entry and also leads to innovation. Thus it is very important for firms to adapt to the changing trends of technology. Online fashion has become significantly more popular as choices have improved. These days many consumers prefer to shop online as it not only saves time but also offers a full view of the collection at a single click. Fashion sites are also engaging more effectively with the customers through; better product imagery, establishing online communities; utilising user generated content, introducing virtual changing rooms etc. These types of innovations help the consumers to establish a better three dimensional understanding of the products they want to buy and hence provide a better opportunity for the marketers to capture the consumer. (Appendix A.10) Another trend is M-commerce. It is a potential source of growth for the future, particularly among the young a key demographic for fashion. But it will depend on more retailers launching mobile applications and on consumer ownership of smart phones. (Appendix A.10) Other Factors There are some other factors other than political, social, economic and technological factors that affect the UK clothing retail market. One of them is the environmental concerns facing the fashion industry today. Many environmentalists have raised objections against fast-fashion goods as they not only end up in landfills faster than usual but also because of the time, effort and resources utilized in their production. According to a research it shows that on average in the UK 30kgs of clothes per person are dumped into landfills as a result of the fast-fashion. It accounts for about 1,000kg of CO2 a year roughly half that emitted by a small diesel car. Each year the average person in the UK spends about  £650 on 50 or so items of clothing and accounts for a large part of our carbon footprint. When they are manufactured, when they are transported, when they are washed and even when they are thrown away, clothes are responsible for significant greenhouse gas emissions. 90% of the c lothes people buy in the UK are transported from abroad, mainly from China, India and Bangladesh and it only adds to the environmental impact of clothing. Also, working in the textiles industry often means long hours, low pay, poor safety records and the use of child labour. This it raises environmental and ethical concerns (Appendix A.11). It raises concerns for the Inditex group as a whole as their prime focus recently has been the introduction of fast-fashion products into the markets through their various brands. Massimo Dutti Opportunities With the help of the macro environmental analysis opportunities of the company can be identified. These opportunities can be maximised so the company can be placed ahead of its competitors in the market. These opportunities are: As a result of the EU territory expansion Massimo Dutti is able to reach wider markets both within and outside the UK increasing the scope of operations in the company. It also means that it is easier to source materials from the partner countries, which is an important aspect of Massimo Duttis business strategy. The stimuli provided by the government in 2009 as a result of the economic recession have helped the people to overcome the problems of disposable income and hence has boosted the retail sector. However the impact is very long term and takes time to show signs of recovery. Shoppers of high-end designer clothes tend to buy more from the mid-market than from the upmarket high street retailers as a result of the ongoing recession. This has helped retailers like Massimo Dutti to capture new demographics. As a result of the rising concerns over the recession people have started spending lesser and lesser on clothes but have started to spend more on accessories which help them to look different with the same amount of clothes. Massimo Dutti thus has a competitive advantage because of their recent launch of men and women accessories as an addition to its prior range. Online shopping is one of the recent emerging trends in the fashion industry. This opens up markets for consumers who previously were unable to shop at specific stores. This also reduces the need for a physical location of its stores. This provides a huge opportunity for mid-market retailers whose sales can be boosted in the presence of online sales. M-commerce is another technological factor affecting the industry. It can tap the key demographic i.e. 25-50 year olds and therefore has a great potential for companies like Massimo Dutti whose main target market is this demographic. Massimo Dutti Threats Due to the Economic recession and currency rate fluctuation it has been difficult for retailers to keep up with a price-led market. This impacts the already low profit margins thereby posing a threat to the retailers. As a result of the decreasing disposable income mid-market brands have suffered because people have shifted from them to fast-fashion cheap retailers who provide fashion clothes at a cheaper price. Another trend in change that has impacted Massimo Dutti is that the 25-54s have traded down the most amongst all other consumer age groups. Being the key demographic of the company it has affected sales and may continue to do so in the future. As many environmentalists have raised objections against fast-fashion it poses a threat for companies like Inditex (Massimo Dutti) as their core business model revolves around the concept of fast-fashion goods. Micro Environmental Analysis The micro environmental factors are those which are related with the firms immediate area of operation that affects the performance and decision making in that organisation. These factors also affect the overall costs of the organisation; the quality of products supplied and directly contributes to organisational success. There are 3 major stakeholder groups which affect these factors. These are the suppliers, consumers and the competitors. The Suppliers There are a number of ways in which the suppliers affect the performance of a firm. These may be related to the quality the supplier provides, the quantities that can be sourced from the suppliers, lead-time demands of the market or the ethical and environmental concerns followed by the suppliers. All these factors are responsible for having the right product at the right time to satisfy the demands of a firms consumer. Based on these factors firms must decide on issues such as who to source from, responsibility it takes for these suppliers and on the terms and conditions it adopts. Inditex has over 1,186 suppliers around the globe making it vulnerable to many factors. One of the most important trends in change is the adaptive process of suppliers to operate in low cost regions. This is because the textile industry inherently is a labour intensive industry and hence was the first to move to low labour cost regions. Five years ago, China was the only source for low cost products but now Vietnam is competing against inland China and parts of India for that same position. This is because of the increased internationalisation of the clothing companies in Europe in the past decade. As buyers are forced to spread their volumes across different regions, these regions or countries enter into competition with one another. This led to the creation of special economic zones in many countries, mostly with cheap labour. Besides cheap labour and resources these zones have no other connections to the local economy. On the other hand they are directly influenced by the high deg ree of fluctuations caused due to favourable or unfavourable conditions in foreign markets. China is one of the key suppliers to the European apparel industry but is less competitive than eastern European countries because of added logistics costs. (Appendix B.4, B.5) Another factor that has affected the suppliers is the requirement of buyers for environmental compliance and labour standards. Recently the government has launched a campaign to tackle the environmental and social impact of the fast fashion culture. As a result of this many retailers have introduced changes in their supplier regulations. For example Marks and Spencer, Tesco and Sainsburys have pledged to increase their ranges of Fair-trade and organic clothing, and support fabrics which can be recycled more easily. Also Tesco is banning cotton from countries known to use child labour. All these changes in the buying behaviour of the retailers have forced suppliers to follow stricter guidelines on environmental and ethical issues. (Appendix B.6) The Consumers The customers are a key to sales of all retail formats. An organisation must monitor its consumers and the trends in change that affect the consumers. By gathering data on shopping patterns of the consumers the retailers can identify possible changes required to the marketing strategy. It can be in the form of a changed target market, the change in distribution channels or by responding to the new product or pricing needs of the consumers. The target market for Massimo Dutti is women of 25-45 years old and men of 25-50 years old catering to the upper middle and upper socio economic class and upper middle cultural interests. The customer plays an active role in the Inditex business model. At Inditex production activity begins once customers demand reactions have been analysed. Unlike the traditional fashion company business model which started at the designers drawing table, Inditex activities starts by assessing the customers demands and continues to the store. The economic downturn is helping to boost sales of value clothing retailers. Consumers have been forced to cut back on other categories of spending like holidays abroad and restaurant meals. But consumer research shows that clothing is to be the most vulnerable area of spend amongst adults who have been forced to cut back their expenditure due to the recession, although value clothing appears to be one area of clothing expenditure that is responding positively to the trend. In response to economic worries, consumers are saving more and they appear to be trading down on clothing as a consequence. Specialist fashion discounters or value clothing retailers (led by Primark, TK Maxx and Matalan) are the main beneficiaries of the strong growth in value clothing sales, and have seen their sales rise by 7% to  £5 billion in 2009. (Appendix B.7, B.8) The GfK NOP consumer confidence index, published on 31st March 2010, showed that overall UK consumer confidence fell to -15 in March, from -14 in February. The 2,000 adults interviewed by GfK NOP also took a more negative view of the overall economic situation over next 12 months. The index also indicated that consumers are becoming more cautious about of their own personal financial situation. (Appendix B.9) The Competitors Another important factor which affects the micro-environment of an organisation is its competitors. The success and behaviour of any business will depend on the degree of competition in its market. In the case of fashion retail market the competition is intense because of a large number of players in the market. This puts a downward pressure on the price of the product offerings. Thus it is very important for a organisation to identify and monitor its competitors in order to obtain a competitive advantage. The major competitors to Massimo Dutti as a brand are Gap, Banana Republic, Mango and HM (Hennes Mauritz). Gap Banana Republic (Gap Inc.) Gap Inc. is a clothing retailer from the US that has expanded into Europe via operations in the UK, France and Ireland. Clean, classic, American designs are the words on which the brand was founded and the current offer continues to reflect these values. The commercial formats at Gap Inc. include Gap, Gap Kids, baby Gap, Gap Maternity and Gap body under the brand name Gap. Other brands which do not include the brand name Gap are Banana Republic and Old navy. Gap and Banana Republic have 140 stores in the UK. As a result of the tough trading conditions in all its markets, Gap saw the sales decline by 12% in 2008. However, Gap maintains a mid-market stance and as a result has looked to more muted colours in the current recessionary climate as consumers seek items that will last longer. In August 2009 the company also ventured into the UK e-commerce arena, announcing the availability of Gap branded items on the ASOS website. (Appendix B.10, B.11) Mango Mango is one of Spain largest clothing specialists and has also built up a sizeable international business in Europe, Asia and the Americas. Mango predominantly targets women aged 18 to 30 with a fashionable and sophisticated offer. Mango designs, manufactures and markets womens and mens clothing and accessories. Mango currently has a total of 1,220 stores in 91 countries worldwide. In the UK it operates 42 outlets which are mostly franchised. Mango follows the same multi-brand strategy as of Inditex. Mango has admitted that the global recession has led to a decline in the sales volume in early 2009 in markets such as Spain, Ireland, the UK and Russia. Consumers have been cutting back on their spending, particularly on discretionary items such as clothing. In reaction Mango has launched Think Up, an affordable sub-range for the weaker consumer climate. Recently, the group has expanded into menswear and has also hinted that it may launch a chain that targets younger shoppers. (Appendi x B.12, B.13)

Should We Pay Farmers Not to Grow Crops? Essay -- Argumentative Agricu

Should We Pay Farmers Not to Grow Crops? The Conservation Reserve Program (CRP) was established under the Conservation Title of the 1985 Food Security Act and is still in place today. This program which intended to assist with possible environmental problems is one that is beneficial to the farmers and our country's environment and therefore should stay in effect. However, it should be examined how this program is being conducted to ensure that the original objectives are being met today and with maximum efficiency. When the CRP was established in 1985 as a voluntary acreage retirement program, there were seven stated objectives that were introduced as well. 'The stated objectives of the CRP are to (a) reduce water and wind erosion, (b) protect our long-term capability to produce food and fiber, (c) reduce sedimentation, (d) improve water quality, (e) create better habitat for fish and wildlife through improved food and cover, (f) curb production of surplus commodities, and (g) provide needed income support for farmers' (Boggess and Reichelderfer 111). The program also was subject to the constraints of having a minimum of 5 million acres enrolled by 1986 and at least 10 million acres by 1989. It was also specified that no more than 25% of any one specific county's cropland can be enrolled in the program at the same time. (Boggess and Reichelderfer 111). In order to be qualified for the program owners and operators who currently farm 'highly erodible' land may apply for program funding. According to Dana Hoag and Herb Holloway, highly erodible land is defined as 'having an erodibility index greater than or equal to 8' (185). The main benefits of this program include the extra income for the farmers and the positive env... ... and Katherine Reichelderfer. ?Government Decision Making and Program Performance: The Case of the Conservation Reserve Program.? American Journal of Agricultural Economics. February 1988. 111-121. Buchholtz, Shawn, and Michael J. Roberts. ?Slippage in the Conservation Reserve Program or Spurious Correlation? A Comment.? American Journal of Agricultural Economics. February 2005. 244-250. Hoag, Dana L., and Herb A. Holloway. ?Farm Production Decisions Under Cross and Conservation Compliance.? American Journal of Agricultural Economics. February 1991. 184-193. Smith, Rodney B.W. ?The Conservation Reserve Program as a Least-Cost Land Retirement Mechanism.? American Journal of Agricultural Economics. April 2005. 52-67. Wu, Jun Jie. ?Slippage Effects of the Conservation Reserve Program.? American Journal of Agricultural Economics. November 2000. 979-992.

Julius Caesar Essay -- essays research papers fc

The Life And Death of Gaius Julius Caesar In my opinion, no other man in the history of the world symbolizes military and political strength as much as Julius Caesar does. Caesar was born on July 12, 100 BC in Rome, Italy (Encarta 2000). His father belonged to the prestigious Julian clan (Internet Explorer) His uncle by marriage was Gaius Marius, leader of the Populares which supported agrarian reform and opposed the Optimates (Comptons Encyclopedia). Marius saw to it that Julius Caesar was appointed flamen dialis which is a archaic priesthood with no power. Caesar's marriage in 84 BC to Cornelia, the daughter of Marius's associate was a political Match (Lindsay Salo). When Lucius Cornelius Sulla, Marius's enemy and leader of the Optimates, was made dictator in 82 BC, he issued a list of enemies to be executed. Caesar was not harmed but he was ordered by Sulla to divorce Cornelia. Caesar refused that order and left Rome to join the army (Lindsay Salo) (Comptons Encyclopedia). This wa s the beginning of an astonishing military career. He became second in command of the province Asia (Turkey) (Lindsay Salo). In two years he proved his bravery and superior skills at arms. After these years and Sulla's resignation in 78 BC, Julius decided to return to Rome. There he served as an officer in Crassus's army against Spartacus, Caesar climbed steadily in the government by serving as an official in many provinces (Internet Explorer). After the death of his wife Cornelia, Julius remarried a wealthy wife and allied with Crassus, who was the richest man in Rome at the time (Internet Explorer). Their opponent was Pompeius Magnus (the Great). Caesar wanted to become part of the consulate. The consulate was a governmental position where two consuls, nominated each year, held the power of the state. Caesar was hoping that he and Crassus would become the powerful consuls of the Roman Empire. However, the Senate tried to stop his efforts by pitting Crassus, Pompeius and Caesar aga inst each other. Caesar noticed this and did something believed impossible. Julius created an alliance among himself, Crassus, and Pompeius (Encarta 2000). The alliance made it possible for them all to share power. This three way consulship was called a Triumvirate (Internet Explorer). This agreement dictated the Roman policy for the next decade. They shared all offices between them and their followe... ...y corrupt tax system, extended Roman citizenship, and sponsored colonies of veterans. Also Caesar's reform of the calendar gave Rome a rational means of recording time which was very important (Encarta 2000). However, a number of senatorial families felt that Caesar threatened their position. Thus, on the 6th of March 44 BC, the so called Ides of March, Caesar was murdered by Marcus Brutus, Gaius Cassius, and his two trusted commanders of his old legions Decimus Brutus and Gaius Trebonius (Encarta 2000). Caesar was stabbed twenty-three times. While the blood poured out of his wounded body the great dictator of Rome silently pulled his toga over his head and fell at the foot of a statue of Pompeius (Internet Explorer). In conclusion, Julius Caesar was probably the greatest man of his time and the most successful. It was Caesar who ended the Roman republic and paved the way for the later Roman emperors (Encarta 2000). From his early life to his death no other man accomplished as mu ch as he did. Julius Caesar in my opinion was the greatest soldier and dictator of all time. By Vince Henecker Bibliography 1. Compton's Encyclopedia 2. Encarta 2000 3. Internet Explorer 4. Lindsay Salo

Death of a Salesman - Linda Loman Essay -- American Literature

Death of a Salesman - Linda Loman In the play Death of a Salesman, Linda Loman serves as the family's destroyer. Linda realizes, throughout the play, that her family is caught up in a bunch of lies. Linda is the only person that can fix the problem and she doesn't. The first instance where Linda Loman serves as the family destroyer is in Act when Willy Loman comes home and tells her, "I suddenly couldn't drive any more. The car kept going off onto the shoulder, y'know?" (1402). Linda replies, "Oh. Maybe it was the steering again. I don't think Angelo knows the Studebaker" (1402). Willy says, "No, it's me, it's me. Suddenly I realize I'm going sixty miles an hour and I don't remember the last five minutes. I'm--I can't seem to-- keep my mind to it" (1402). Linda says, "Maybe it's your glasses. You never went for your new glasses" (1402). Linda knows throughout this conversation that her husband, Willy, is trying to kill himself in a car accident. Yet she continues to listen to the excuses Willy makes up for the car accident. To make matters even worse, Linda even makes up he...

Proctor reluctantly Essay

This powerful line comes in act 4 when Proctor reluctantly confesses to seeing the devil. He is now passionate about making sure his name doesn’t get put up on the church door. This is the line that starts the incredible build up of emotion and frustration leading to the dramatic climax of the play. Saying it ‘with a cry of his whole soul’ shows how much his name means to him. There isn’t a more emotional way he could say it than with his whole soul. John Proctor would rather give up his life than his name. The exclamation mark at the end and the word ‘cry’ shows he should shout the words with a lot of emotion and passion. I can imagine the actor looking very angry and yelling the line with his arms spread and his fists clenched in rage at the prospect of losing his dignity and reputation. I think when he says the line the other charactors will be silenced and be shocked by his flood of emotion. This abrupt line would surprise the audience and it might make them sympathize with Proctor. In Act 2 John is asked by Hale to repeat the Ten Commandments and remembers all but thou shalt not commit adultery and has to be reminded of it by Elizabeth. It is ironic that Proctor forgets this sin because of the affair he had with Abigail. Adultery was seen as a terrible sin in the Puritan society and adultery was taken very seriously. From Elizabeth’s perspective this would make her feel uncomfortable as she is wounded by her husband’s affair: ‘Proctor (as though a secret arrow had pained his heart): Aye. ‘ The description Miller uses to show how Proctor should say the line is very dramatic and the simplicity of just using the word ‘Aye’ will also have dramatic impact. I can imagine the actor almost whispering the word, dropping his head in shame and with a crack in his voice. This might have the effect of generating sympathy from the audience for both Elizabeth and John. It also adds to the build up of tension creating an expectant atmosphere. Arthur Miller is very good at making the audience feel very involved. One of the ways he does this is by using a technique called dramatic irony. Dramatic irony is when there is contradiction between what a character thinks and what the audience knows to be true. For example in Act 3 Proctor confesses to the court that he had an affair with Abigail. He tells them that Elizabeth knew about the affair and this is why his wife put Abigail out of the house. Danforth sends for Elizabeth and orders that no one is to speak to her and Proctor to turn his back. She is asked about the affair. Not knowing that Procter has confessed and trying to protect Proctor, she lies and denies all knowledge of the affair between John and Abigail. She realizes too late that she should have told the truth and she is led away. During this most tense scene the audience would feel very frustrated with Elizabeth and be willing her to tell the truth. The audience would feel sorry for Elizabeth as she lied to protect Proctor even though it was about his affair, which deeply hurt Elizabeth. At this point in the play I felt desperate for Elizabeth to tell the truth. Arthur Miller uses very powerful stage directions in The Crucible. He uses them for several reasons. One of the reasons is to describe a movement or action of a character. He directs this line at Mary Warren. His wife has just been arrested on suspicion of witchcraft after a poppet is found in her house, which Mary made. This movement prepares us for the dialogue, which is to follow: ‘Proctor (moving menacingly towards her): You will tell the court how that poppet came here and who stuck the needle in. ‘ This shows the mood that Proctor is in. Proctor is furious at Mary and wants to scare her into telling the court. The movement would draw everyone’s attention towards the actor. I think the word ‘menacingly’ would mean that the actor would walk purposely with an edge of threat towards the girl. He would tower over Mary ready for the dialogue. By this point the audience would be anticipating though his actions what would be going to happen next. In Act 4 Proctor is losing control and is confused about his decision of confessing to seeing the devil: ‘(He moves as an animal, and a fury is riding in him, a tantalized search)’. This stage direction would enable the actor to behave in a dramatic, inhuman manner. I can imagine the actor pacing and his eyes searching for answers. It would give the actor the opportunity to take centre stage and exploit this important twist of the play. This would add dramatic tension and a feeling of anticipation of what Proctor was going to do next. I think the actor would pace up and down the stage quickly with his body quite tensed up. I think Arthur Miller was successful in creating tension in The Crucible. He does this through a variety of methods. Firstly his use of dark, forbidding sets. This gives the idea of tension before the scenes have even begun and the characters have started speaking. His use of dramatic dialogue and stage directions build up the tension and help the actors relate to the character and perform the play with more emotion towards the characters. Through dramatic irony he involves the audience and manages to maintain their interest throughout the play. Miller portrays the characters in an intense way. The relationships between them are very close, with the stifling intimacy of their lives adding to the slow build up of hysteria in the play. I found the most dramatic moment in the play was when Proctor confessed to his affair. Elizabeth was then asked if she knew about the affair but she denied all knowledge of this. This was a particularly tense moment because anxiety and frustration was high; the characters along with the audience wanted her to tell the truth, fearing the consequences of a lie. This had the affect of making me feel nervous that something could go wrong and also involved because I knew about Proctor’s confession. I felt that Abigail’s character was especially strong and influential in the play. She was the root of all the troubles. I felt pity for Elizabeth because of Abigail; her affair with Proctor and her accusations about Elizabeth’s involvement in witchcraft destroyed her life. Miller has the ability to pull the audience into the lives of the characters by his use of dramatic devices and theatrical techniques, which maintain interest and participation throughout the play. Miller made me feel nervous and frustrated in The Crucible. He made me feel sympathy, fear and anxiety towards the characters. For example I felt great empathy for Elizabeth Proctor as her husband betrayed her and then she was accused of being a witch. Miller uses the other characters to portray Elizabeth as a cold person but through our knowledge of her as the play progresses we become emotionally involved with her and come to realize what a strong courageous woman she is. With Elizabeth, as with many other characters, Miller allows us to make up our own minds about their honesty and strength as we are drawn into the characters lives and we begin understand the double standards and different tensions that are operating throughout The Crucible.