Finance and Accounting Essay Example | Topics and Well Written Essays - 750 words

Finance and Accounting - Essay Example Joan expects each cashier to balance the drawer to the penny every time – no exceptions.I disagree. Joan should employ another employee to daily reconcile the amount in the cash register and cash in the drawer. Since, in our case, Joan expects cash to balance with no exceptions, the employee verifying the amount might overcharge some customers in case of any shortage. b. Joan caught an employee putting a case of 400 single-serving tea bags in her car. Not wanting to create a scene, Joan smiled and said, â€Å"I don’t think you’re putting those tea bags on the right shelf. Don’t they belong inside the coffee shop?† The employee returned the tea bags to the stockroom. I disagree. The employee is stealing from the stockroom which is an offense and Joan should have fired the employee or otherwise penalize the employee. Joan should install an inventory control that ensures stock is taken daily, and any shortage is would be easily detected. c. Jittery Coffee Shop has one cash register. Prior to Joan’s joining the coffee shop, each employee working on a shift would take a customer order, accept payment, and then prepare the order. Joan made one employee on each shift responsible for taking orders and accepting the customer’s payment. Other employees prepare the orders. I agree. Joan segregated duties among the employees. Segregation of duties is a strong internal control used by many companies. In our case, the employee taking orders is different from the one preparing the same orders. This ensures none or minimal cases of theft. Lasting Impressions Co. records all cash receipts based on its cash register tapes. Lasting Impressions Co. discovered during April 2012 that one of its sales clerks had stolen an undetermined amount of cash receipts when she took the daily deposits to the bank. The following data have been gathered for April: Theft should have been prevented by ensuring separation of duties. The Employee recording the cash receipt should be different from the person taking deposits to the bank. The company can also contract an independent party to be carrying out the reconciliation, as this will ensure easier detection of cash stolen. After a period of one month, the employee’s duties can be rotated. The company should be ensuring bank reconciliation is done frequently.

Phonics Primer for Year Five Remedial Class in Primary School Essay Example for Free

Phonics Primer for Year Five Remedial Class in Primary School Essay 1.1 Description of the Area of Research Title of the Study: Phonics Primer for Year Five Remedial Class in Primary School. Phonics is letter-sound correspondences. The units of sound can be syllables, onsets rimes, or phonemes (EdResearch.info). Phonics Primer is a way of learning the sounds of the alphabet in order to decode the English language. It is recognized by a quick pace of teaching letter and the sound or grapheme and phoneme matches and immediately getting students to use this knowledge to read and spell regular words. Words are read by using the phonological skill of blending the sounds together synthesis (hence the term synthetic phonics). Words are spelled by using the phonological skill of hearing the sounds in words (segmentation) by means of which words are segmented into their constituent phonemes (Wikipedia, The Free Encyclopedia) Research Questions 1. What is the strategy in teaching synthetic phonics? 2. Can the method be successfully taught in shorter periods? 3. Can the 44 sounds of Phonics Primer help in teaching non-English speakers who have other sounds that is found in English? 4. Can Phonics Primer be used to teach cohorts in higher levels with reading difficulties? Research Variables The instruments that I will use in my research will be: 1. Questionnaires 2. Interviews 3. Classroom Observation Checklist 4. Tests 5. Document Reviews Gay and Airasian (20030 defined population as â€Å"The population is the group of interest to the researcher, the group to which the results of the study will ideally generalized†. The respondents of the research will be for remedial students from the outskirt of Sarikei in Sarawak. The majority of the students will be of the Iban race. The research will be conducted on two groups of selected students. One group will be used for study, called the experimental group. Another group would be the controlled group and they will be taught with the conventional teaching procedure during English lessons. Both groups will be cohorts who will need assistant in reading. About six students will be involved in this study. They will be remedial students from the cohort of year five students who are in the remedial class. The respected students and school will be chosen simply to fulfill the requirements of the research that will use the Primers phonics approach to teach reading for remedia l students. 1.2 Theoretical Framework Often we find that in schools, there are always students who are very poor in reading English. It is even worst when the students cannot read in a language that is very similar to theirs. This means that the students are having problems in basic reading. We can say that these students are too slow in picking up during their reading lessons in English. In classes where we have been teaching, oftentimes we see that students cannot recognize words and even there are some who cannot read. The students in rural Sarikei, in Sarawak, specifically are mostly Ibans. They are non-English speakers. They only encounter the language when they come to school. English therefore is very unfamiliar to them. Many English sounds don’t even exist in their mother tongue. Synthetic phonics has all the 44 sounds of the English Language. It is a very systematic way to teach basic reading in English. By using the method of teaching, students can read faster and easier. The method of teaching and the instruments used in teaching it can enable the remedial students of the primary schools to remember the sounds made by the letters and enable them to read. Research instrument are devices to measure the objects of the study. Instruments come in multiple forms. For this research, the researcher will be using multiple forms like questionnaires, observation forms, interview forms and tests to get information. The questionnaires and interviews will be used to get information about experiences, suggestions and ideas related to the study. The observation forms will be used to make observations during the study. From observation forms, the researcher will be able to see weaknesses and strengths during the teaching of Phonics Primer and also the current teaching method used by the school to make comparisons. The tests which will be given before and after teaching Phonics Primer will help the researcher to find out if the case study that they are doing is suitable and good for teaching remedial students. Questionnaires Questionnaires are familiar to most people (Berdie, Anderson, and Niebuhr, 1986).It is a written or printed form used in gathering information on some subject or subjects, consisting of a set of questions to be submitted to one or more persons (Your Dictionary.Com) It is a communication method of designing questionnaires to collect the requisite information. It is a list of questions framed to get facts. A questionnaire is defined as a group of printed questions used to elicit information from subjects by means of self report. Questionnaires will be distributed to both experimental and controlled group. Teacher Questionnaires. A teacher questionnaire is designed to gather information administered to English teachers in school. The questionnaire will be done two times, that is before the start of the Phonics Programme. A second questionnaire will follow at the end of the programme. This is to find out the status of remedial reading before and after the programme. If there are any differences before and after the programme, it will be noted down for analysis in the research later. Students’ Questionnaires Students’ questionnaire will also be done. It will be done with students who are involved with the study. They are the experimental group of students and also the controlled group of students for comparison later. Questionnaires can help the researcher discover the experiences, knowledge and backgrounds of the students and the school which is related to the case study that is going to be done. These information will help the researcher to know more and understand more about the stand of the students involved in the study. The questionnaire is also important in helping the researcher to make conclusion and give suggestions for future study of similar case. Interview The interview is a dialogue between the teachers with the researcher. The most commonly accepted objective of the interview is to determine whether there is a match between the candidates education, experience, interest and goals and the goals of the researcher related to the study for which the researcher is interviewing. In this study, the researcher conducts the interview with the remedial students’ teacher. This interview is designed to elicit data using a set of predetermined questions that are expected to elicit the subjects thoughts, opinions and attitudes regarding the teaching of reading to remedial students. Group Interviews with Teachers. To identify the major issues surrounding the planning and implementation of reading instruction in schools of a rural school, group interviews will be conducted with English remedial teachers. An interview will be used to facilitate discussion. Responses to the uniform standard questions will contribute to the final analysis of the study findings. Individual Interviews with Teachers. To investigate all of the major research questions. presented earlier, interviews will be conducted with English remedial teachers in the selected schools. An interview will be used to facilitate information gathering. Responses to the questions will contribute to the final analysis of the study findings. Observation Instruments Observation is a technique of gathering data through direct contact with the subjects. In this study, the researcher will observe two classes. The researcher will observe ongoing class using Primer Phonics and the normal teaching of remedial students in the school. Observation instrument is necessary to detect any strength and weaknesses for both types of methodology in teaching remedial students. The detections will be noted down in the researcher’s note book for making analysis, conclusion and suggestions for future researches. Classroom Observation Classroom observation will be done to make sure that Primer Phonics is taught accordingly. A checklist will be used. Classroom observations will also be done for the normal teaching of remedial students in the same school. The need for making observation for the normal method of teaching is to enable comparison among the two types of methodology later. Additional data collection and review will occur during the observations. Researchers summarized notes after each observation. Test The researcher will conduct two types of tests, the Pre test and the Post test, for two groups of students from the remedial class only. The students will be divided into the experimental and controlled group. A Pre test will be used to see the students’ ability to read before teaching using the Primers Phonic Method. The Post test will be used to see the achievements made after teaching using the Primers’ Phonic Method. Both the experimental and the controlled groups will take the tests so the researcher can compare if there will be any differences in the achievements after teaching using the Primers’ Phonic Method for the experimental group. The Controlled group will be taught by their own remedial teachers using the usual syllabus in the school. In the tests, subjects are to read a short text of about 150 words. These tests aims to see how good the students can or cannot read before and after teaching using the Primers’ Phonic Method. To assess the students reading, 5 criteria will be ticked accordingly. Students who gets two out of five ‘Yes’ are considered to have pass the Pre Test or the Post test Document Review Document review will inform the research process to varying degrees. Among the documents analyzed were student work samples, report cards, forms, letters to parents, lesson plans, lists of reading books, and other relevant documents pertinent to current reading instruction. The Theoretical Framework Diagram 1: The Diagram depicts the theoretical framework. 1.3 Review of Related Literature The literature reviews forwarded here will help us to understand more about the case study that will be done. A literature review is a body of text that aims to review the critical points of current knowledge and or methodological approaches on a particular topic. Literature reviews are secondary sources, and as such, do not report any new or original experimental work. Most often associated with academic-oriented literature, such as theses, a literature review usually precedes a research proposal and results section. Its ultimate goal is to bring the reader up to date with current literature on a topic and forms the basis for another goal, such as future research that may be needed in the area. A well-structured literature review is characterized by a logical flow of ideas; current and relevant references with consistent, appropriate referencing style, proper use of terminology and an unbiased and comprehensive view of the previous research on the topic I would like to make a review of related literature which is in my area of research, Instruction, Development, and Achievement of Struggling Primary Grade Readers by Elizabeth Campbell Rightmyer, Ellen McIntyre, and Joseph M Petrosko. Reading Research and Instruction. Coral Gables: Spring 2006. Their study examined the phonics and reading achievement of 117 primary grade students in 14 schools and 42 classrooms. Students received instruction in one of six different reading programs or models based upon the school they attended. Through qualitative data collection and analysis of specific instructional practices, they determined that no model or program proved more effective for the learning of phonics in the first grade after one year of instruction. Purpose The purpose of their study was to examine the phonics and reading achievement of primary grade students receiving instruction in six different instructional programs or models (referred to as models in reference to their study). Then, through a qualitative analysis of the specific instructional practices within these models and their understanding of young childrens literacy development, they explain the relative differences in achievement gains of these primary grade struggling readers. Method They examined the instructional practices and achievement of low performing students in first through third grade classrooms in which teachers used one of the following reading models: Breakthrough to Literacy (www.btl.com); Early Success (Cooper, et al., 1997); Early Intervention (Taylor, Medo, Strait, 1995); Four Blocks (Cunningham, Hall, DeFee, 1991); SRA Reading Mastery (Engelmann Bruner, 1997); or Together We Can, a locally developed model based on small group guided reading and explicit teaching of reading strategies and skills. Participants The study included 117 struggling primary-grade readers in 14 schools and 42 classrooms. Schools that had recently received a state grant to implement one of the reading models were invited to participate. They then contacted the principals, asking them to recommend teachers who were particularly successful at implementing the instructional model for at least one year; they believed that principals would avoid selecting teachers who were struggling with the model, classroom management, student diversity, or any of the myriad complexities that teachers face daily. Independently, they checked the teachers credentials by using a state-developed data base and found that the majority of them held advanced rank in the profession; 73% had earned at least 30 credit hours beyond the bachelors degree. They also found that 84% of the teachers had taught in their current state of employment for more than five years. The principals distributed consent forms to interested teachers, and when they were returned, the researchers explained to each teacher that the children they wanted to study were those struggling with reading or learning to read. They had no control of the models that were proposed or the schools that were selected to receive the grants. Like many states under accountability mandates, their state is becoming heavily invested in direct instruction models of reading and mathematics, and this predilection was seen in the numbers of students who received scripted early intervention in reading. They asked that by October 1 of the first year of the study, the teachers identify the lowest achieving 20% in their classes. Again, they did not control for socioeconomic status, gender, or ethnicity of the identified children or in any way second-guess the teachers selection. Consenting students became the targeted group of children the researchers tested on the phonics application and reading tasks. There were two to five children in each of the classrooms, although due to attrition and a few flawed tests, this number was reduced in some classrooms. Researchers studied one group of children from the beginning of first grade through the end of second grade, documenting growth in phonics for one year. These children are hereafter referred to as first graders, even though they followed them through the end of second grade. The children in this group were all served by a single reading model one of the five models that appear in Appendix A across two years; however, most of the children had different teachers implementing the model the second year (in second grade). The study followed a second group from the beginning of second grade through the end of third grade, also documenting growth after two years. These children are hereafter referred to as second graders, even though they followed them through the end of third grade. Like the first graders, the children in this group were served by the same reading model across two years; however, most of the children had different teachers implementing the model the second year (in third grade). Table 1 lists the participants by model. Procedures for Data Collection and Analysis of Student Achievement Instruments The researcher pre- and post-tested first grade children on clays Hearing Sounds in Words Test (1993), a phonics application task that included encoding a sentence. This measure was conducted only with first graders, as this was the norming sample. It will hereafter be referred to as the phonics measure or phonics achievement. On the clay test, the examiner reads two sentences to the child, The bus is coming fast. It will stop here to let me get on. Then the sentences are read again, word by word, and children encode the sentence as the researcher dictates. The children are encouraged to do the best they can with the spelling and use the sounds of words to write as much as you can. The children score a point for each letter or group of letters they write that correctly correspond to the sounds in the words. Children can score from O to 37 on this test. The researchers selected this test because they believed it to be a more authentic assessment of phonics understanding and use than phonological tests on which children call out letter sounds they see or sound out semantically disconnected word lists. Data collection Researchers were trained using each of the testing instruments given. The training involved an explanation and demonstration of the testing procedures and observation of videotapes of the project director testing various children. The researchers scored those children, discussed results, and adjusted their expectations through more explanation and demonstration by the director. Children were pre-tested during the months of September and post-tested during the month of May during each of the two years of the study. Children were tested in one-on-one situations in quiet places, arranged by the classroom teacher or grant administrator for periods of no more than 30 minutes at a time. While the pre-testing took approximately 30 minutes per child, the post-testing took 60-90 minutes per child for most children, thus each child was met two or three times. The researchers attempted to make the children comfortable and rewarded them afterwards with stickers. All reading passages were tape-recorded. Quantitative analysis of achievement data For ease in comparing achievement, the researchers used the benchmarks provided by each of the tests. Clays Hearing Sounds in Words phonics test has a range of 1-37, with intervals of 1. Two trained researchers individually scored every Clay test, and these scores were compared against one another for accuracy. Where there was discrepancy in scoring, a third researcher also reviewed the data, and the group negotiated the final score. Scores were entered into a data base, and two team members reviewed each of them for accuracy in data entry. In this study, test score data were statistically analyzed in two ways. First, pretest scores were subtracted from posttest scores. The resulting gain scores were used as dependent variables in a one-way analysis of variance (ANOVA), with the reading models as the independent variables. Test 1 was a comparison of phonics achievement of students in the different reading models (one-year gain). For each test, students achievement in only five models was compared. Importantly, due to the unequal number of students in each of the comparison groups, and the small numbers of participants in some of the models, the interpretations about the findings of these tests are made with caution and based on trends in the data. Data Collection and Analysis of Instructional Practices The researchers collected data on the instructional models in three ways: a) by observing the teachers and taking field notes, b) by interviewing the teachers about their practices, and c) by completing an observation instrument after leaving the site (which required reflection and quantification of what was observed). For this analysis, they specifically gathered data on: 1) the focus of instruction, 2) the primary literacy activities conducted, and 3) the length of time children spent reading connected text. Other salient characteristics of the models, such as whether the model was considered an intervention for struggling readers or a whole class model, are also described. Observations and interviews Schools were contacted and arrangements were made to observe the teachers who had been previously identified as fully implementing the instructional model adopted through the state program. The researchers visited each teacher four times and observed between 90-180 minutes during each visit, depending on how long literacy instruction was conducted in that classroom. Researchers sat in the room and recorded what the teacher said and did in the form of field notes. One important feature in our field notes was the regular marking of time. In an effort to understand how teachers distributed their instructional time for various activities, they recorded the time in the margins of their field notes approximately every five minutes. After each visit, the researchers interviewed the classroom teacher the same day the observations were made. Among the questions they asked were about how typical the observed instruction was and how the children were selected for testing to ensure that they ind eed were studying the bottom 20%. Observation instrument After exiting the field site, the researcher used the field notes and interview to complete an observation instrument that summarized and quantified instructional patterns. A small section of instrument was used to help determine the teachers focus of instruction. The instrument, the field notes, and the interview made a data set for analysis. Analysis of instruction In the first phase of analysis, researchers gathered to examine the data sets. Using a form created by the project director, the researchers summarized what happened during each of the visits. From these summaries of the field notes and interviews, the project director created a set of codes that reflected much of the data, a content analysis of sorts (Miles Huberman, 1994). Then, the research team partitioned the field notes into activity settings (Tharp Gallimore, 1988) in order to create smaller, bounded units of analysis. This meant that whenever there was a change in activity (the people, place, or product of instruction), the ensuing activity was considered a unit of analysis and coded separately. The Researcher did not consider as change in setting instances in which children had to leave a group early or if a lesson was interrupted. Thus, the lessons were coded holistically by setting. Settings lasted from five to 45 minutes. For example, one setting for analysis might be a 10-minute whole class lesson on which the teacher guided the children to correct a message she had written without punctuation. When the same teacher signaled to the children it was time to work in learning centers, a new unit of analysis was begun. Sometimes there were multiple simultaneous activity settings, and the researcher usually made the decision to follow the teacher. For each activity setting, they coded the teachers primary activity, followed by what researchers interpreted, from both observations and interviews, was the teachers focus for the activity-either to help students develop phonologically (ACTIV-phon), or to help students learn something else (ACTIV-other). The primary instructional activities observed in each class were listed on the summary sheet. Finally, to determine the time children spent reading connected text, they used an earlier analysis of these data (Authors, 2005). They first defined connected text as texts of meaningful sentences or longer; that is, more than one connected sentence; although, in this study, connected text was usually an entire story. Then, they clarified activities that comprised examples of opportunities to read connected text. The following practices were categorized as such: choral reading; echo reading (even though technically the teacher was doing half of the reading); guided silent reading; guided oral reading; and established periods for independent reading. Activities not included as opportunities for reading connected text included read aloud story time, times when the teacher was directly teaching something, times when students completed worksheets that included only words or unrelated sentences, drill of individual words, or time on non-print responses to literature. Then, the researchers highlighted in field notes when students were provided opportunities to read connected text. They calculated the percentage of time in such activity against the total time designated for language arts instruction. They examined all four observations of each teacher together as a unit because they knew they were going to categorize them. Using group consensus, they defined classrooms as having much opportunity to read connected text during all four observations, a moderate amount of time, or little time. After each data set was analyzed and each teacher categorized, they compared instructional foci and practices across models. They listed all the teachers in a given model together, and looked across these data sets for patterns.

Saladin :: Essays Papers

Saladin In his De Laude Novae Militiae (1128 - 1131), Bernard of Clairvaux exhorted young Christian knights to take up the calling of spiritual chivalry and fight pagans without fear of eternal damnation since when he kills an evildoer, he is not a homicide, but ...a malicide, and it is plainly Christ's vengeance on those who work evil. Though Bernard's words served as a precursor to the Second Crusade they are important when examining the life of Saladin, for in his life and actions this man, destined to become the greatest of the aforementioned pagans, would exemplify none of the traits one would expect of a horrible infidel. Rather, one could say that, aside from religion, Saladin embodied many of the ideals held dear by the chivalric Christian warrior of the age. Saladin, or Salah al - Din, was born in 1138 into a Kurdish military family at Takrit in present - day Iraq. Saladin's origins were fodder for many Europeans chroniclers of the Crusades. The Latin Itinerarium regis Ricardi compiled in the 13th Century described Saladin as a pimp, the king of the brothels, who campaigned in the taverns, and devoted his time to gaming and the like. Far from these conjectures we now know with a fair amount of certainty that Saladin grew up at Baalbak and various other outposts where his father served as governor. In 1152 he joined his uncle in the service of sultan Nur ad- Din and by 1156 he had become his uncles deputy in the military governorship of Damascus. Saladin became a close companion of Nur ad- Din . He also accompanied his uncle on three separate expeditions to Egypt between 1164 and 1168. In 1169 Saladin's uncle, Shirkuh, took over the Fatimid caliphate in Egypt and became Vizier of Egypt with Saladin as chief administrator. Shirkuh died nine weeks into his rule and Saladin seized power. By 1171 Saladin had abolished the Fatimid caliphate and placed it under Nur ad-Dins rule. Nur ad-Din died in 1174 and Saladin promptly married his widow and began to establish his sway over the sultans empire. In 1175 Saladin seized Central Syria with his victory at the Battle of Hama. By 1181, with the death of Nur ad-Dins son, Saladin had become the leader of a unified Muslim state.

Automobile Industry Essay

* Detailed analysis of Automobile industry which is gearing towards international standards. * Analysis of the impact of qualitative factors on industry’s and company’s prospects. * Comparison of the Global automobile scene with its Indian counterpart. * Study of the challenges facing the Indian Automobile Industry * Analysis of the implementable strategies to counter the effects of the discussed challenges. PREFACE The Automotive industry in India is one of the largest in the world and one of the fastest growing globally. The Indian Automobile Industry embarked on a new journey since 1991 with delicensing of the sector and subsequent opening up for 100 per cent FDI through automatic route. Almost all the global majors have set up their facilities in India taking the next level of production of vehicles from 2 million in 1991 to 110+ million in 2011. The Auto Sector in India is set to continue in its growth trajectory for the next five years and India is an increasingly favourite destination for Global Majors looking at emerging market. This in turn, has fuelled a boom in the domestic auto market, with close to 10mn vehicles sold in India in 2009-10 The automotive industry is increasingly becoming the cynosure of the manufacturing sector across the globe. Due to its intense forward and backward linkages with several key segments of the economy, the automotive industry has a strong multiplier effect and acts as one ofthe key drivers of growth across the globe. The attention and importance to the automotive industry in the economic development and planning policies of Government and its agencies has also witnessed significant up rise. The industry has been evolving over the years, meeting up with challenges as diverse as transitions, consolidations and restructuring, and thereby adapting to the new market conditions. As of 2011, India is home to 40 million passenger vehicles. More than 3. 7 million automotive vehicles were produced in India in 2011 (an increase of 33. 9%), making the country the second fastest growing automobile market in the world. According to the Society of Indian Automobile Manufacturers, annual vehicle sales are projected to increase to 5 million by 2015 and more than 9 million by 2020. By 2050, the country is expected to top the world in car volumes with approximately 611 million vehicles on the nation’s roads. OVERVIEW The Indian Automobile Industry manufactures over 11 million vehicles and exports about 1. 5 million each year. The dominant products of the industry are two-wheelers with a market share of over 75% and passenger cars with a market share of about 16%. Commercial vehicles and three-wheelers share about 9% of the market between them. About 91% of the vehicles sold are used by households and only about 9% for commercial purposes. The industry has a turnover of more than USD $35 billion and provides direct and indirect employment to over 13 million people. The supply chain is similar to the supply chain of the automotive industry in Europe and America. Interestingly, the level of trade exports in this sector in India has been medium and imports have been low. However, this is rapidly changing and both exports and imports are increasing. The demand determinants of the industry are factors like affordability, product innovation, infrastructure and price of fuel. Also, the basis of competition in the sector is high and increasing, and its life cycle stage is growth. With a rapidly growing middle class, all the advantages of this sector in India are yet to be leveraged. With a high cost of developing production facilities, limited accessibility to new technology, and increasing competition, the barriers to enter the Indian Automotive sector are high. On the other hand, India has a well-developed tax structure. The power to levy taxes and duties is distributed among the three tiers of Government. The cost structure of the industry is fairly traditional, but the profitability of motor vehicle manufacturers has been rising over the past five years. Major players, like Tata Motors and Maruti Suzuki have material cost of about 80% but are recording profits after tax of about 6% to 11%. The level of technology change in the Motor vehicle Industry has been high but, the rate of change in technology has been medium. Investment in the technology by the producers has been high. System-suppliers of integrated components and sub-systems have become the order of the day. However, further investment in new technologies will help the industry be more competitive. Over the past few years, the industry has been volatile. Currently, India’s increasing per capita disposable income which is expected to rise by 106% by 2015 and growth in exports is playing a major role in the rise and competitiveness of the industry. Tata Motors is leading the commercial vehicle segment with a market share of about 64%. Maruti Suzuki is leading the passenger vehicle segment with a market share of 46%. Hyundai Motor India Limited and Mahindra and Mahindra are focusing expanding their footprint in the overseas market. Hero MotoCorp is occupying over 41% and sharing 26% of the two-wheeler market in India with Bajaj Auto. Bajaj Auto in itself is occupying about 58% of the three-wheeler market. Consumers are very important of the survival of the Motor Vehicle manufacturing industry. In 2008-09, customer sentiment dropped, which burned on the augmentation in demand of cars. Steel is the major input used by manufacturers and the rise in price of steel is putting a cost pressure on manufacturers and cost is getting transferred to the end consumer. The price of oil and petrol affect the driving habits of consumers and the type of car they buy. The key to success in the industry is to improve labor productivity, labor flexibility, and capital efficiency. Having quality manpower, infrastructure improvements, and raw material availability also play a major role. Access to latest and most efficient technology and techniques will bring competitive advantage to the major players. Utilizing manufacturing plants to optimum level and understanding implications from the government policies are the essentials in the Automotive Industry of India. Both, Industry and Indian Government are obligated to intervene the Indian Automotive industry. The Indian government should facilitate infrastructure creation, create favorable and predictable business environment, attract investment and promote research and development. The role of Industry will primarily be in designing and manufacturing products of world-class quality establishing cost competitiveness and improving productivity in labor and in capital. With a combined effort, the Indian Automotive industry will emerge as the destination of choice in the world for design and manufacturing of automobiles. The Indian market offers endless possibilities for investors. HISTORY The first car which ran on Indian roads was in 1897. Until the 1930s, cars were imported directly, but in very small numbers. Embryonic automotive industry emerged in India in the 1940s. Mahindra & Mahindra was established by two brothers as a trading company in 1945, and began assembly of Jeep CJ-3A utility vehicles under license from Willys. The company soon branched out into the manufacture of light commercial vehicles (LCVs) and agricultural tractors. Following the independence, in 1947, the Government of India and the private sector launched efforts to create an automotive component manufacturing industry to supply to the automobile industry. However, the growth was relatively slow in the 1950s and 1960s due to nationalization and the license raj which hampered the Indian private sector. After 1970, the automotive industry started to grow, but the growth was mainly driven by tractors, commercial vehicles and scooters. Cars were still a major luxury. Japanese manufacturers entered the Indian market ultimately leading to the establishment of Maruti Udyog. A number of foreign firms initiated joint ventures with Indian companies. In the 1980s, a number of Japanese manufacturers launched joint-ventures for building motorcycles and light commercial-vehicles. It was at this time that the Indian government chose Suzuki for its joint-venture to manufacture small cars. Following the economic liberalization in 1991 and the gradual weakening of the license raj, a number of Indian and multi-national car companies launched operations. Since then, automotive component and automobile manufacturing growth has accelerated to meet domestic and export demands. Following economic liberalization in India in 1991, the Indian automotive industry has demonstrated sustained growth as a result of increased competitiveness and relaxed restrictions. Several Indian automobile manufacturers such as Tata Motors, Maruti Suzuki and Mahindra and Mahindra, expanded their domestic and international operations. India’s robust economic growth led to the further expansion of its domestic automobile market which has attracted significant India-specific investment by multinational automobile manufacturers. In February 2009, a monthly sale of passenger cars in India exceeded 100,000 units and has since grown rapidly to a record monthly high of 182,992 units in October 2009. From 2003 to 2010, car sales in India have progressed at a CAGR of 13. 7%, and with only 10% of Indian households owning a car in 2009 (whereas this figure reaches 80% in Switzerland for example) this progression is unlikely to stop in the coming decade. Congestion of Indian roads, more than market demand, will likely be the limiting factor. SIAM is the apex industry body representing all the vehicle manufacturers, home-grown and international, in India. INDUSTRY OVERVIEW This class consists of units mainly engaged in manufacturing motor vehicles or motor vehicle engines. Products and Services The primary activities of this industry are: * Motor cars manufacturing. * Motor vehicle engine manufacturing The major products and services in this industry are: * Passenger motor vehicle manufacturing segment (Passenger Cars, Utility Vehicles &Multi Purpose Vehicles) * Commercial Vehicles (Medium & Heavy and Light Commercial Vehicles) * Two-Wheelers * Three-Wheelers Key Auto Segments – Growth Expected to moderate over the next 12 months Financial Year 2012 was a landmark year – both in a positive and negative manner. It paved way for many breakthrough launches – saw the launch of segment defining Fluidic Verna, excellent value for money XUV 500, Hyundai’s entry level offering Eon and many more. It also displayed its sudden love for MPV/MUVs in the Auto Expo – Maruti’s Ertiga, Chevrolet’s Enjoy and Nissan’s Evalia were the most sought after showcase at the expo. We were now exposed to the hard truth as well – that how labour intensive the auto industry is. A labor strike can strike at Maruti shook the entire Auto Industry. The aftermath took its toll on the overall numbers. This was further catalyzed by inflation, consistent fuel hikes and rising auto interest rates. The world’s fastest growing automobile market was now under analysts scanner for its sheer volatility. Demand for cars fell for the first time in three years last July and slumped by the most in over a decade in October. SIAM which had projected a growth of over 20% had to instantly lower its projections. The Industry’s lackluster performance reflected in the overall performance of the country. In a recent report, S&P cut its outlook on India’s BBB- rating to negative from stable. This is surely not a good news for the Indian Industry in overall. The low-end hatchbacks were the ones to take the beating in FY12. For perhaps the first time in many years, small cars reported a decline in growth in 2011-12 (FY12), largely on account of Maruti Alto’s decline. Now, SIAM has forecast 10-12 percent growth in overall passenger cars for this fiscal, but this number may be lower if small car growth is again hindered. SIAM data showed that the mini car segment – which comprises Maruti 800, Alto, A-Star, and WagonR, the Chevy Spark and Hyundai’s Santro and Eon – declined by about 7 percent to 6,42,009 units (6,90,812 units) last fiscal. Sales of the Alto, the single largest selling car in India, had fallen by about 11 percent between April and February 2012. Also, for the first-time ever, bigger diesel cars – the SUVs – are selling more and there is no slowdown in ‘dieselization’. India’s largest automaker, Maruti Suzuki, expects car sales to increase by 10 per cent in the fiscal year beginning in April led by diesel models. Diesel car sales are expected to rise by 150,000 in 2012-13 while sale of petrol cars fall by 50,000, said the company. OVERALL HIGHLIGHTS: * Car sales in India rose just 2. 2 percent in FY2012 * Sales of motorcycles rose 12 percent in the previous fiscal year to 10. 1 million vehicles (10,096,062 units). * Scooter sales shot up 24. 5 per cent, to 2,562,841 units. * Total two-wheeler sales were 13,435,769 units in 2011-12 against 11,768,910 units in 2010- 11, up 14. 2 per cent. * Commercial vehicles, Siam said total sales in FY12 were 809,532 units, up 18. 2 per cent. * Three-wheeler segment that saw a decline of 2. 4 per cent at 513,251 vehicles in FY12. PROJECTIONS FOR FY2013: * # SIAM has projected passenger car sales growth at 10-12 per cent in 2012-13. * # Sales of trucks and buses, a key indicator of economic activity, rose 18. 2 percent in 2011/12 and are seen growing 9 to 11 per cent in this fiscal year. * # SIAM has pegged the motorcycle segment to grow 10-12 per cent in FY13 and scooters by 15-17 percent. Two wheeler segment is expected to have a growth of around 14-15%. * # Commercial Vehicles is projected to grow by nine to 11 per cent in FY13. * # SIAM has also projected five to seven per cent growth for Three Wheelers. Domestic car sales – expecting growth to moderate next year SUPPLY CHAIN OF AUTOMOBILE INDUSTRY: The supply chain of automotive industry in India is very similar to the supply chain of the automotive industry in Europe and America. The orders of the industry arise from the bottom of the supply chain.ie. From the consumers and goes through the automakers and climbs up until the third tier suppliers. However, the products, as channeled in every traditional automotive industry, flow from the top of the supply chain to reach the consumers. Automakers in India are the key to the supply chain and are responsible for the products and innovation in the industry. The description and the role of each of the contributors to the supply chain are discussed below. * Third Tier Suppliers: These companies provide basic products like rubber, glass, steel, plastic and aluminum to the second tier suppliers. * Second Tier Suppliers: These companies design vehicle systems or bodies for First Tier Suppliers and OEMs. They work on designs provided by the first tier suppliers or OEMs. They also provide engineering resources for detailed designs. Some of their services may include welding, fabrication, shearing, bending etc. * First Tier Suppliers: These companies provide major systems directly to assemblers. These companies have global coverage to follow their customers to various locations around the world. They design and innovate to provide â€Å"black-box† solutions for the requirements of their customers. Black-box solutions are solutions created by suppliers using their own technology to meet the performance and interface requirements set by assemblers. First tier suppliers are responsible not only for the assembly of parts into complete units like dashboard, brakes-axle-suspension, seats, or cockpit but also for the management of second-tier suppliers. * Automakers/Vehicle Manufacturers/Original Equipment Manufacturers (OEMs): After researching consumers’ wants and needs, automakers begin designing models which are tailored to consumers’ demands. The design process normally takes five years. These companies have manufacturing units where engines are manufactured and parts supplied by first tier suppliers and second tier suppliers are assembled. Automakers are the key to the supply chain of the automotive industry. Examples of these companies are Tata Motors, Maruti Suzuki, Toyota, and Honda. Innovation, design capability and branding are the main focus of these companies. * Dealers: Once the vehicles are ready they are shipped to the regional branch and from there, to the authorized dealers of the companies. The dealers then sell the vehicles to the end customers. * Parts and Accessory: These companies provide products like tires, windshields, and air bags etc. to automakers and dealers or directly to customers. * Service Providers: Some of the services to the customers include servicing of vehicles, repairing parts, or financing of vehicles. Many dealers provide these services but, customers can also choose to go to independent service providers. EXPORTS: India’s automobile exports have grown consistently and reached $4. 5 billion in 2009, with United Kingdom being India’s largest export market followed by Italy, Germany, Netherlands and South Africa. India’s automobile exports are expected to cross $12 billion by 2014. According to New York Times, India’s strong engineering base and expertise in the manufacturing of low-cost, fuel-efficient cars has resulted in the expansion of manufacturing facilities of several automobile companies like Hyundai Motors, Nissan, Toyota, Volkswagen and Suzuki. In recent years, India has emerged as a leading center for the manufacture of small cars. Hyundai, the biggest exporter from the country, now ships more than 250,000 cars annually from India. Apart from shipments to its parent Suzuki, Maruti Suzuki also manufactures small cars for Nissan, which sells them in Europe. Nissan will also export small cars from its new Indian assembly line. Tata Motors exports its passenger vehicles to Asian and African markets, and is in preparation to launch electric vehicles in Europe. The firm is also planning to launch an electric version of its low-cost car Nano in Europe and the U. S. Mahindra & Mahindra is preparing to introduce its pickup trucks and small SUV models in the U. S. market. Bajaj Auto is designing a low-cost car for the Renault Nissan Automotive India, which will market the product worldwide. Renault Nissan may also join domestic commercial vehicle manufacturer Ashok Leyland in another small car project. While the possibilities are impressive, there are challenges that could thwart future growth of the Indian automobile industry. Since the demand for automobiles in recent years is directly linked to overall economic expansion and rising personal incomes, industry growth will slow if the economy weakens. Passenger car exports from India increased 34. 16% in May, riding on the back of robust overseas sales by Hyundai Motor, Nissan Motor and Toyota Kirloskar in non-European countries. According to figures released by Society of Indian Automobile Manufacturers (SIAM), India exported 45,036 cars in the last month compared to 33,570 units in the year-ago period. â€Å"Europe still continues to be a worry, but the growth that we have seen is mainly on account of new markets that the companies have developed,† SIAM Director General Vishnu Mathur said. In May, the country’s largest exported Hyundai Motor India Ltd (HMIL) witnessed a growth of 42. 16% at 23,659 units against 16,643 units in the same month last year. â€Å"On account of slackness in the domestic market in May, we took the opportunity to ramp up the back orders for the export market. We had higher sales of the Eon in Algeria, the i20 in South Africa and the i10 in South America, particularly in Mexico and Columbia,† a spokesperson of HMIL said. However, rival and domestic market leader Maruti Suzuki India’s overseas passenger car sales fell by 9. 42% to 9,363 units from 10,337 units in May 2011, SIAM said. Car maker Nissan Motor India saw its exports from the country going up by over two-fold to 8,157 units last month from 3,937 units in the corresponding month last year. Toyota Kirloskar Motor, which started exports from April this year, sold 1,693 units in May in South Africa, SIAM said. Ford India’s sales in overseas locations, however, dipped 15. 81% to 1,693 units from 2,011 units in May 2011. Homegrown auto major Tata Motors’ exports rose by 32. 38% to 372 units from 281 units in the year-ago period. Exports of all categories of vehicles from India during May 2012 increased by 4. 62% to 2,46,314 units from 2,35,429 units in the same month last year, SIAM said . The two-wheeler segment witnessed exports of 1,74,362 units in last month compared to 1,61,346 units in the year-ago month, up 8. 07%, it added. The motorcycle segment’s overseas sales went up by 5. 16% to 1,63,446 units from 1,55,419 units in May 2011. SIAM said exports of scooters from India increased by 87. 18% last month to 10,660 units from 5,695 units in the same month last year. However, exports of commercial vehicles decreased by 8. 72% to 7,861 units in May 2012 from 8,612 units in the corresponding month last year, it added. MARKET CHARACTERISTICS * MARKET SIZE: The Indian Automotive Industry after de-licensing in July 1991 has grown at a spectacular rate on an average of 17% for last few years. The industry has attained a turnover of USD $35. 8 billion, (INR 165,000 crores) and an investment of USD 10. 9 billion. The industry has provided direct and indirect employment to 13. 1 million people. Automobile industry is currently contributing about 5% of the total GDP of India. India’s current GDP is about $1. 4 trillion and is expected to grow to $3. 75 trillion by 2020. The projected size in 2016 of the Indian automotive industry varies between $122 billion and $159 billion including USD 35 billion in exports. This translates into a contribution of 10% to 11% towards India’s GDP by 2016, which is more than double the current contribution. * DEMAND DETERMINANTS: Interest rate (%) – cuts unlikely to spur demand Determinants of demand for this industry include vehicle prices (which are determined largely by wage, material and equipment costs) and exchange rates, preferences, the running cost of a vehicle (mainly determined by the price of petrol), income, interest rates, scrapping rates, and product innovation. Exchange Rate: Movement in the value of Rupee determines the attractiveness of Indian products overseas and the price of import for domestic consumption. Affordability: Movement in income determine the affordability of new motor vehicles. Allowing unrestricted Foreign Direct Investment (FDI) led to increase in competition in the domestic market hence, making better vehicles available at affordable prices. Innovation: Product Innovation is an important determinant as it allows better models to be available each year and also encourages manufacturing of environmental friendly cars. Demographics: It is evident that high population of India has been one of the major reasons for large size of automobile industry in India. Factors that may be augment demand include rising population and an increasing proportion of young persons in the population that will be more inclined to use and replace cars. Also, increase in people with lesser dependency on traditional single family income structure is likely to add value to vehicle demand. Infrastructure: Longer-term determinants of demand include development in Indian’s infrastructure. India’s banking giant State Bank of India and Australia’s Macquarie Group has launched an infrastructure fund to rise up to USD 3 billion for infrastructure improvements. India needs about $500 billion to repair its infrastructure such as ports, roads, and power units. These investments have been made with an aim to generate long-term cash flow from automobile, power, and telecom industries. (Source: Silicon India) Price of Petrol: Movement in oil prices also have an impact on demand for large cars in India. During periods of high fuel cost as experienced from 2007, demand for large cars declined in favors of smaller, more fuel-efficient vehicles. The changing patterns in customer preferences for smaller, more fuel-efficient vehicles led to the launch of Tata Motor’s Nano – one of the world’s smallest and cheapest cars. Surprisingly, when overall passenger car sales have run into problems, the sales of luxury cars and SUVs, which are significantly more expensive in India than abroad due to high import taxes, have experienced encouraging growth. The Indian unit of BMW had to raise capacity at its factory four times during 2011, while sales of the high-end Jaguar Land Rover model owned by Tata Motors rose impressively during a period when more affordable passenger car sales were experiencing a downturn. * INTERNATIONAL MARKETS ANALYSIS: The Indian automotive industry embarked a new journey in 1991 with de-licensing of the sector and subsequent opening up for 100% foreign direct investment (FDI). Since then almost all global majors have set up their facilities in Indian taking the level of production from 2 million in 1991 to over 10 million in recent years. The exports in automotive sector have grown on an average compound annual growth rate of 30% per year for the last seven years. The export earnings from this sector are over USD 6 billion. Even with this rapid growth, the Indian automotive industry’s contribution in global terms is very low. This is evident from the fact that even though passenger and commercial vehicles have crossed the production figures of 2. 3 million in the year 2008, yet India’s share is about 3. 28% of world production of 70. 53 million passenger and commercial vehicles. India’s automotive exports constitute only about 0. 3% of global automotive trade. * LIFE CYCLE: The life cycle stage is growth. The market for manufacturing motor vehicles is consistently increasing. The products manufactured by this industry are profitable. Companies have been consistently opening new plats and employing over the past five years. Japanese and European manufacturers of motor vehicles have entered the market. Industry value added has been rising, along with the rise in GDP. Life Cycle Analysis General improvement in availability of trained manpower and good infrastructure is required for sustainable growth of the industry. Keeping this in view, the Indian Government has launched a unique initiative of National Automotive Testing and R&D Infrastructure Project (NATRIP) to provide specialised facilities for Testing, Certification and Homologation to the industry. A similar initiative is required for creating specialised institutions in automotive sector for education, training and development. The auto industry has grown in the clusters of interconnected companies which are linked by commonalities and complementarities. The major clusters are in and around Manesar in North, Pune in West, Chennai in South, Jamshedpur-Kolkata in East and Indore in Central India. The Government is planning to create a National Level Specialises Education and Training Institute for Automotive Sector and to enhance the transportation, communication and export infrastructure facilities. The contribution of automotive sector in the GDP of India is expected to double by 2016 through major spotlight on export of small cars, Multi-Utility Vehicles, Two- and Three-wheelers. * INDUSTRY ASSISTANCE: The automobile industry has a defined its target in the Automotive Mission Plan as â€Å"To emerge as the destination of choice in the world for design and manufacture of automobiles with output reaching a level of USD 145 billion accounting more than 10% of GDP and providing additional employment to 25 million people by 2016†. In order to achieve this plan interventions are required from both Industry and Indian Government. The Indian Government would play a key enabling role in facilitating infrastructure creation, promote the country’s capabilities, create a favorable and predictable business environment, attract investment and promote research & development. The role of Industry will primarily be in designing and manufacturing products of world-class quality standards, establishing cost competitiveness, improving productivity of both labor and capital, achieving scale and R&D enhancing capability and showcasing India’s products in potential markets. In order to achieve these goals the following key recommendations have been made in the Automotive Mission Plan to the Indian Government and Industry: Manufacturing and export of small cars, multi-utility vehicles, two- and three-wheelers, tractors, components to be promoted. Care to be taken of negative like and rules of the country with current negotiation of Free Trade Agreement and Regional Trade agreement with countries like Thailand, Singapore, Malaysia, China, Korea, Egypt, Gulf etc. Attractive Tariff Policy which may follow attractive investment. Specific measures will be taken for expansion of domestic market. Incremental investment of USD 35 to 40 billion to Automotive Industry during the next 10 years. National Road Safety Board to act as the coordinating body for promoting safety. Inspection and Certification system to be strengthened by encouraging public-private partnership. National level Automotive Institute for training on automobile at International Training Institutes (ITIs) and Automotive Training Institute (ATIs) to be set up. An Auto Design Centre to be established at National Institute of Design, Ahmadabad. National Automotive Testing and R&D Implementation Project (NATRIP) to act as Centre of Excellence for Technical Design Data. Integration of Information Technology in manufacturing to be promoted. R&D for product, process and technology to be incentivized. Road Map for Auto Fuel Policy beyond 2010 would be drawn. The profitability of motor vehicle manufacturers has been rising over the past five years, mainly due to rising demand and growth of Indian middle class. Major players of the industry, like Maruti Suzuki India and Tata Motors have been recording profits of 6% to 11% from the past five years. Whereas, earlier profit margins in the industry were only 1. 5% to 3%. Cost of material has reduced from over 85% in the year 2001-2002 to under 80% in the year2008-2009. Wages and salary as a percentage of revenue has been declining and with the increasing labor productivity this is expected to decline further in the coming years. * CAPITAL AND LABOR INTENSITY: The level of Capital Intensity is high. The level of labor intensity is medium. The motor vehicle manufacturing industry requires significant level of capital investment. Value is added through the automated manufacturing and assembly of costly components. Labor input is required in the manufacturing, assembly, and finishing processes. In order to achieve and retain competitiveness, vehicle manufacturing industry depends on its capacity and speed to innovate and upgrade. The most imperative indices for competitiveness in the industry are productivity in both labor and capital. * TECHNOLOGY AND SYSTEMS: The level of technology change is high. The rate of change in technology is medium. Investment in technology by producers has been on the rise. The automobile industry in India has seen an enormous development in the engines which are being used. Carburetor engines have become obsolete and Multi Point Fuel Injection (MPFI) engines are the order of the days in patrol cars. The Diesel engines have also undergone a sea change from the time Rudolf Diesel invented it way back in the 1892. Today Common Rail Direct Injection (CRDI) is the order of the day. Multi Point Fuel injection (MPFI):The fuel injects were used to meet stricter emission norms as it keeps pollutants to bare minimum and drives the maximum performance out of a vehicle by squeezing out the maximum mileage even from the last drop of fuel that goes into the engine. MPFI system injects fuel into individual cylinders after receiving command from the on board engine management system computer or Engine Control Unit (ECU). This technology results in superior fuel combustion, better fuel management, engine performance and reduced pollution. To get the maximum out from these types of engine one should use Premium petrol like XTRA Premium, Speed, and Power. Common Rail Direct Injection (CRDI): CRDI engine cars offer 25% more power than the normal direct injection engine with a superior pickup and torque, offering sometimes up to 70% more power than the conventional diesel engines. They are smooth, less strident, and immensely.

19th Century Theories in Dostoevsky’s Crime and Punishment Essay

19th Century Theories in Dostoevsky’s Crime and Punishment â€Å"I teach you the Superman. Man is something that has to be surpassed. What have you done to surpass him? † These words said by Friedrich Nietzsche encompass the theories present in Dostoevsky’s nineteenth century novel, Crime and Punishment. Fyodor Dostoevsky, living a life of suffering himself, created the character of Raskolnikov with the preconceptions of his own sorrowful and struggling life. Throughout his exile in Siberia from 1849-1859, his sentiments of suffering, sorrow, and the common man surfaced and heightened, inspiring him to begin writing Crime and Punishment in 1859. The main motif in this novel is that of suffering. It is apparent that all characters, major and minor, experience some sort of internal or external affliction. The overall theme of the work is that all mortal men suffer, and that salvation can not be obtained unless this anguish is present. Dostoevsky’s protagonist, Raskolnikov, must evolve and realize this fact to overcome his conflicts and reach the salvation of peace and tranquillity. Volumes and volumes of critique can be written on where this suffering originated, but Dostoevsky’s main concentration and focus is not where, but why suffering must exist and how this suffering can be overcome. See more:  First Poem for You Essay This is seen from the fact that throughout the six sections of the novel, only one section is focused on the origin of the torment – the Crime, and the remaining five sections are concentrated on Raskolnikov’s path to overcoming this anguish – the Punishment. By focusing solely on the punishment, the internal and external conflicts that arise within the novel do not only provide Raskolnikov’s own philosophy of the path toward salvation, but encompasses that of the German philosopher Nietzsche, as well as his contemporaries. Raskolnikov’s justifications for his actions are relayed in his own Extraordinary Man Theory, which states that there are two classifications of men in the world: ordinary, and extraordinary. He wanted prove that he was extraordinary, that he could commit a crime as horrid as murder, but because he did it for the betterment of society, he would feel no sympathy or regret for his justified actions. In following Raskolnikov’s theory, it becomes apparent from where his conceptions originate. Though the whole work encompasses the philosophies of all the nineteenth century theorists, Raskolnikov’s ideas spawn from that of Friedrich Nietzsche and Georg Wilhelm Hegel. Since it has already been established that the entire novel contains theories of its era, to begin an analysis in regard to the novel’s main ideas evolving from the concepts of merely Nietzsche or Hegel would, in a way, belittle the importance of the remaining non-Hegelian nineteenth century philosophers. By analyzing the ideologies of the major theorists from Father to Fruitcake (Kierkegaard to Freud) with respect to Crime and Punishment, Dostoevsky’s intentions, motifs, and ideas can be interpreted with ease. Soren Kierkegaard (1813-1855) believed that truth is both power and suffering. He is often noted as the Father of Existentialism, an innovated modern belief that life has no meaning, and that we must live life just for the sake of living, and nothing else. To know the truth about life and the individuals living it would be a form of powerful knowledge incomprehensible to man. The truth is – Life is suffering. Kierkegaard believed that man was blessed with the greatest gift of all – free will, but this free will creates decisions, and decisions generate emotions. Emotions are the key to the suffering of man. Happiness creates a fear in losing prosperity, fear leads to anger toward life’s unjust ways, anger leads to hatred of life in general, and hatred leads to the suffering of the individual mind. This is the path of the common man, the man who â€Å"thinks† that life can be blissful. The existential man â€Å"believes† that life has no meaning, no substance, and no path for happiness. He is the man who knows and accepts that all things, good and evil, exist, including suffering. This is why the existential man is indifferent toward the benefits and consequences of life. Raskolnikov believes that The Extraordinary Man feels no suffering and no pain. He is the man who can break the laws, transgress the laws, and make the laws. Raskolnikov believed that if he were extraordinary, he could commit any crime, even the crime of murder, and walk away from it indifferent, apathetic, and without emotion. What he did not realize was the main point of Kierkegaard’s philosophy, that no matter what – man suffers. Raskolnikov thought that he could avoid the truth and avoid suffering. It is not until he confesses to both Porfiry and Sonia, which coincidentally is the same instant that his own pain begins to vanquish, that he fully understands and believes in the suffering of man. Georg Wilhelm Hegel (1770-1831), another prominent philosopher of the nineteenth century, hypothesized a dialectic method for the analysis and comprehension of history. He believed that all events in time move in a teleological fashion contrary to the popular belief of a circular path. Hegel stated that history, rather than repeating itself, learns and moves forward toward a purpose. In his theory this purpose is the freedom of all men in a rational state, and moving toward such a beneficial purpose justifies all good and evil events in history. The dialectic method also consisted of a diagram regarding this teleological path. Hegel believed that history is made up of a series of events all corresponding to a thesis, antithesis, and synthesis. The thesis and antithesis serve as the conflict in history, while the synthesis becomes the result. In Crime and Punishment, Raskolnikov is the thesis, the symbol of good intentions, while Svidrigailov is the antithesis, the epitome and reality of evil and suffering. With the battle of good and evil comes salvation, or the synthesis, in this case – Sonia, the representation and key to Raskolnikov’s salvation. This method can also be viewed in the perspective of Dostoevsky’s primary concentrations. With that respect the crime can be viewed as the symbol of good intentions. Raskolnikov killed Alyona because she represented the evil in society. Because her death would be a blessing and benefit to the world he believed his crime would be justified. The punishment can be viewed as the reality of suffering. It is not until after he commits the crime that Raskolnikov realizes that all men in fact do suffer. The key is to overcome this suffering instead of avoiding it. The salvation can be viewed as the redemption and end to suffering – the result of the crime and of the punishment. This analysis also maps Hegel’s teleological perspective because the novel moves in a linear fashion. The Crime (thesis) encompasses Part I of the novel, the Punishment (antithesis) is demonstrated in Parts II-VI, and the salvation (synthesis) is introduced in the epilogue. Friedrich Nietzsche (1844- 1900) did not believe in the suffering of all men. He believed that there existed a superman, a powerful individual that lived for self-gratification and nothing else. The Nietzschean superman asserts his own power to situations while he watches the common and ordinary man suffer because of life’s imperfections. This man needs no justification in his actions, because as long as he has satisfied himself, then his dominance over others requires no reason. Nietzsche also believed that in order to become a superman, an individual must surpass the common man. He must have no qualms or regrets in his actions, and above all, he must not fear his actions or consequences. â€Å"Fear is the mother of morality,† it is an emotion only known to ordinary men. A superman has no fear. Perhaps the character of Svidrigailov emits the best example of a Nietzschean superman in the novel. He is the epitome of evil and lives only for self-gratification. His downfall to his superman visage is suicide. Death is the escape to suffering. Svidrigailov feared its company, and in turn, took his own life to avoid it. Raskolnikov on the other hand, did not avoid suffering – he conquered it. Though before his crime he did ask the Hegelian question of â€Å"Will this crime serve a noble purpose,† he also asks the Nietzschean question of â€Å"Do I dare commit this murder and therefore prove myself to be a man by proving that my will is strong? † It is after this that he commits the crime and begins to endure this suffering. Unlike his rival, Svidrigailov, Raskolnikov overcomes his pain through salvation with the help of Sonia, ends his isolation, and returns to the humanity of society. Karl Marx (1818-1883) believed that society was the root of suffering. His common man, the proletarian, struggled because of the capitalistic bourgeoisie. He believed that â€Å"the proletariat goes through various stages of development. † The first stage is the struggle against the bourgeois, which later turns to suffering. Through the growth of the masses, the final stages of the common man of strength and victory evolve. The goal and path of the Marxist man is to emerge from being a mere commodity of society into being a creative and active member of it. The strength that allows him to do this is the realization that he is suffering because he lives for others, and his victory is obtained by overcoming this anguish through the bond of the proletariat. Though Raskolnikov does not face the same pain of worthlessness as the proletariat, he develops in the same fashion. He struggles against his inner emotions of reason and morality, and suffers because of it. Though Sonia and Porfiry contribute to his salvation, it is Raskolnikov himself that overcomes his emotions. He does not need the bond of the masses to aid him in his survival and path toward salvation; he only needs the bond of his inner rational and emotion states. This is why Raskolnikov survives. In 1859 the theorist Charles Darwin (1809-1882) published a controversial book of survival entitled The Origin of Species. In this work Darwin established that an organism’s evolution or devolution in life is representative of their ability to conform, adjust, and survive within the harshness of its environment. This theory of â€Å"survival of the fittest,† later became the coined theme of Social Darwinism. Social Darwinism believes that man survives and prospers in nature because he is the organism that is fit enough to do so. In a battle between man verses nature, and even man versus society, only the strong shall survive, while the weak will parish. Faith and belief no longer have any bearing on the members of tomorrow’s society, only strength.   his theory is presented many times in Crime and Punishment. Alyona and Lizaveta both perish because they are not capable of defeating Raskolnikov. Alyona also did not survive because Raskolnikov’s beliefs were stronger than her will and intentions. Svidrigailov cannot conquer the constraints society has placed upon him, and in turn, he commits suicide. The only exception to this theory is Raskolnikov. His inner strength of intelligence may be strong, but his physical and emotional abilities do not coincide with Darwin’s notion of fit. Raskolnikov’s survival is from his redemption. He reaches salvation because he chooses to, and therefore he survives because he chooses to. He does this through his own realization and rationalization. The psychologist and theorist Sigmund Freud (1856-1939) believed that an individual’s decisions are not always determined by the rational state of mind. He believed that all humans possess three distinct decision making chambers of human behavior. He refers to the first of these as the id. The id is the childhood and instinctual need of the individual. This is the sector that satisfies an individual’s wants and desires, accomplishing them at no fear of risk. The second portion of human behavior is referred to as the ego. The ego is the rationalist, the sector that makes decisions that benefit the individual and society. Freud believed that the majority of all individuals make decisions based on their ego. The final and third division of an individual’s behavior is called the superego. The superego is the ideal individual. This individual makes decisions that should be made; he does things the way they should be done in his opinion, and no matter what the results may be, has no reason for regret. Though most of the characters in the novel make decisions based upon their ego, it is evident and apparent that Raskolnikov does not. He knows what he believes to be right and wrong, and tries to right the wrongs in society with his superego. Though he is the only one to use his superego, all of the other Freudian sections of human decisions exist in the work. Throughout the novel, Svidrigailov uses his id. His encounters with women, prosperity, and fortune are not prolific because he deserves them, but because he wants them. It is his id that leads him to his desire for an end to suffering, and his death near the end of the novel. Sonia and Dounia both rationalize their actions through their ego. Though Sonia does not and should not be a prostitute, she knows that it is the only way for her family to survive. Dounia is in a similar predicament. She did not wish to marry Luzhin, but his wealth and proposal to help Raskolnikov rationalized her to stay. Later, her ego permits her to marry Razumihin for his compassion, admiration, and companionship. This use of the id, ego, and superego supply a Freudian element to Dostoevsky’s work. With all of these theories analyzed, computed, and settled, we can end this critique where we began: â€Å"I teach you the Superman. Man is something that has to be surpassed. What have you done to surpass him? † Is Raskolnikov a Superman? Well, he follows Kierkegaard’s existential statement of â€Å"I believe, therefore I am,† which means that he surpasses the common man who merely â€Å"thinks. † Through the ideas of Hegel, his teleological movements from crime to punishment all serve a justified purpose in benefiting his moral and rational states. He overcomes the common man through the salvation he obtains from this linear evolution of trials. He suffers not from Marxist classes, but from internal struggle, excluding him as a member of the proletariat, or common man. Though not physically or emotionally fit to survive, his confession becomes his salvation, his survival, and his disclaimer in the Darwin theory of surviving. The common man may survive because he is fit to survive, but Raskolnikov survives because he chooses to survive. Unlike Freud’s theory that the everyday man lives his life through his ego, Raskolnikov makes his decisions based on his superego, doing things not just because it would be rational, but because that it the way it should be done. So then, â€Å"Is Raskolnikov a Superman? † Yes.

Economic Impact on Gas Prices essays

Economic Impact on Gas Prices essays Gas prices are up over 40 cents a gallon from this time last year. What impact will that have on the overall economy? A recent USA Today poll showed that 55 percent of people who make under $20,000 a year consider gas hikes a financial hardship. Only 30 percent of people who make $50,000 a year called the increases a hardship. If the recent gas price increases reflect the state of the economy in the late 1970s, with lines at the pump and inflation, do not worry too much. The United States is not as dependent on crude oil as it used to be in the 1970s. As a result, the United States will not face such an economic shock as it did when gas prices skyrocketed in the late 1970s. In the 1970s, energy accounted for 8.7 percent of every dollar in the gross domestic product compared to 3 percent today. But, just because the United States lost some of its dependence on crude oil, does not mean that higher prices at the pump will not affect the country. The country is at an economic low, and high gasoline prices can dampen these boom times. Consumers pay more at the grocery store, the hardware store, and the taxi to get where they need to go. A certain taxi company in Texarkana, Ark. has not increased taxi fares in 13 years, but that will now change because of the huge dent in company profit. Taxicab companies, with approval, will start implementing a $1 surcharge to cover the abnormal gas prices. Airline industries are also implementing a $20 surcharge because of the artificially high fuel prices. Shipping companies are charging retail companies more for the shipping. As a result, the increased costs are passed on to the consumer. ...

Organized labor essays

Organized labor essays Organized labor, during the period from 1875 to 1900, was not as successful in improving the position of workers as one was hoping it would be. There are many results that arose from these organized labor attempts that prove how unsuccessful they actually were. These results include the collapse of many labor unions such as, NLU, Knights of Labor, and ARU, the failure of many strikes such as, the Great Railroad Strike, the Haymarket Riot, and the Pullman Strike, and the techniques used by management to defeat labor. The National Labor Union, otherwise known as NLU, was organized following the time of the Civil War. This labor union was created by William Sylvis. The NLU had a couple of main goals. One goal was to return to the ways of early America; the time when workers controlled the average workday and could actually make a decent living and not have to work their heart and soul out for pennies a day. They demanded eight hour work days, on average, eight hours for work, eight hours for rest, eight hours for what we will. They wanted equal opportunities for craft workers, skilled and unskilled workers, and even reformers. The only exclusions were those involved with banks, defending (lawyers), and the disbursement of liquor. At their height, more than 600,000 people were involved with this union, making it the first largest national union. By the early 1870s, the NLU had created their own political party, a third party. But, to much disappointment, in the elections of 1872, they lost, heavily. With the Panic of 1872 and the Depression in the mid-1870s, the NLU collapsed. The Knights of Labor was established in 1871 by Uriah Stephens, a Protestant. Many were drawn to this organization. These Knights were led by Terence V. Powderly and was open to any variety of the working class. In 1878, they fought for equal pay for women and even le...

Freelance Editors for Indie Authors

Freelance Editors for Indie Authors Do you want to make your book the best it can be? Of course you do. But how do you do that? If you are an indie author, as so many of us are these days, it is essential that you work with both a professional editor and an experienced cover designer. The process for finding these pros is pretty similar but today we are going to take a look at how to find the perfect-fit editor for you and your book. Editors come in two general categories: a.) developmental editors who work with you right out of the gate to help you understand your market, conceptualize your book, organize the material, avoid repetition, keep it moving, engaging, fresh and original, and b.) copyeditors and proofreaders who make sure your completed manuscript is error-free and professionally designed. How Do You Find A Good Developmental Editor? Good is the key word here. A good editor is likely to be a professional editor who has had lots of experience in the traditional book publishing world. Once you have located an editor you feel may be right for your book, find out where she has worked and what published books she has worked on. Make sure she has had experience editing the kind of book you are writing. This is very important. And where do you find this person? = Get a referral. Check around, ask other writers, your friends, agents at writers conferences. = Look online. Go to Google and type in Freelance Editors.   Of course, you can type in Freelance Copyeditors and Proofreaders or Freelance Book Designers, too, if thats what you happen to be looking for. Also, you can check out our recently published guide The Self-Publishers Ultimate Resource Guide www.bookdocs.com The Independent Editors Group (full disclosure, Im a member of this group. www.bookworks.com The Self-Publishers Association www.bibliocrunch.com Bibliocrunch www.consulting-editors.com Consulting Editors Alliance www.digitalbookworld.com Digital Book World www.elance.com Elance www.the-efa.org Editorial Freelancers Association www.mediabistro.com Media Bistro www.publishersmarketplace.com Publishers Market Place = Chat with the editor. Define your goals. Feel free to ask him for his credentials and for the titles of a few of the published books he has worked on. If he has not worked on any books that have been published = Be clear about the fee structure. Does she charge = Ask about the time line. How long does she expect the editing process to take? This depends on how quickly you get the revisions back to her, but make sure you both agree on what is a reasonable amount of time for this project to take. = Ask if he has had experience with self-publishing. This is not essential, but sometimes an editor who knows his way around self-publishing, or who can at least refer you to others who do, can be a big help for first time indie authors. Always remember, this is your book. You are the creator, the artist, and your name is on the cover. When you disagree with your editors suggestions, trust your instincts and go with what you feel is right. You are the boss and thats as it should be.

Use of coconut oil as a renewable resource in 2050 Research Proposal - 1

Use of coconut oil as a renewable resource in 2050 - Research Proposal Example The fuel triggers environmental effluence that leads to universal heating (Natural Resources Defense Council, 2005). Given the effect, the world is now moving towards the use of renewable energy and the coconut oil is emerging as a possible source. The negative effect of the petroleum oil has made policy makers and environmentalists to research on renewable fuels that is environmental friendly. Among the possible source of fuel that can be put in place by 2050 is the coconut fuel. According to Alamu and his fellow scholars, the fuel is growing in popularity and scientists are working on a research that foresee the extensive use of the oil (Alamu, Dehinbo, & Sulaiman, 2010). Countries that would benefit from the fuel will be more than the current countries that produce the petroleum fuel. Every country in the coastal region can benefit from the product. The notion is that the coconut fruit grows widely in the coastal region, and a healthy tree can produce up to 120 fruits per annum (Alamu, Dehinbo, & Sulaiman, 2010). The fuel produced from the fruit can be used to power a diesel engine and therefore become a direct adjunct to diesel (Saxena, 2014). The productivity of the fuel is increasing as the stakeholders realise the impor tance of the fuel. The south pacific region is one of the areas that has acknowledged the importance of the fuel (Namakin, 2007). In this region, industries are adopting the use of the green fuel. The production of the fruit has been heightened to reduce the cost associated with the high demand of the product. The countries in this area are using the coconut fuel to produce electrical energy according to the FAO report (FAO, n.d.). Since the petroleum oil is cannot be replenished back, the long-run cost will be high. The high cost usually makes most of the countries to spend a lot on the oil. The cost incurred in importing fossil fuel have been cut, therefore, saving on

Argumentative Position essay Example | Topics and Well Written Essays - 1000 words

Argumentative Position - Essay Example Apparently, the older generation has never been very keen on technology but as times change, there has been an emphasis on utilization of technology in many areas such as businesses, industries and homes. This development has forced the older generation to adjust with the advancing technologies even though they use them quite minimally. On the other hand, the younger generation was exposed to technology at an early age. As technology develops, young people seem to adjust quickly and efficiently with it. Their appetite for technology is insatiable as evident in some individuals who cannot function normally without communication gadgets such as mobile phones, tablets, personal computers, and the internet (Ito et al. 1). This has introduced many changes in the interaction process between different people. I believe that technology advancement has brought detrimental effects in the way that people socialize and experts can confirm that a generational divide has been established between à ¢â‚¬Å"digital natives† and â€Å"digital immigrants†. The generational divide between â€Å"digital natives† and â€Å"digital immigrants† is obvious. As a digital native, I have always found it easier to interact with others using my mobile phone and my personal computer. On the other hand, my parents can be termed as â€Å"digital immigrants† as they have started using these technologies some time later in their lives as a necessity to keep up with the changing home and work environment. Dr. Mizuko Ito and his team conducted a research showing that there were conflicts occurring between the older generations and the younger generations owing to the fact that they viewed the importance of technologies differently. They discovered that the young generation had adapted social media, online games, and technological gadgets such as mobile phones and iPads in their culture. They found out that technology and its accessories were

Anti-car theft system Coursework Example | Topics and Well Written Essays - 1750 words

Anti-car theft system - Coursework Example GSM based anti-car theft is based on operation through the consideration of GSM module and micro controller programming (Chandra, 2005). The system used in the security comprises GSM which functions as an intermediate between the car owner and the entire car system. The system is responsible for both receiving of calls for system activation and also its deactivation and sending a text message to the owner. The output of the system is fed in to the microcontroller. The microcontroller is considered the main brain behind the entire system with a written program stored in the Read Only Memory. The controller with the direction of the written program connects and coordinates the system of operation through different aspects. The connection occurs when the system is active as it monitors both the car doors and the boot of the car to each if there is opening of the car by a stranger. The system also works to demobilize the car by disconnecting the ignition line from the battery supply through the actuator(Eberspächer, Vögel & Bettstetter, 2001). The design also works with the start up an alarm for the purpose of al ert. If the system is inactive there will be disabling of all the outputs and sensor inputs. In the project, there was utilizing of the design through locally assembled microcontroller and other few basic components of electronic components to achieve both the controller and the controlled. Microcontrollers have been seen to be used in performance of the simple security task inn which performance of humans might be able to degrade over time(Halonen, Romero & Melero, 2003). The engineering technique that has been used in the design is that which makes it reliable,durable and capable for offering guarantee security at all times, the power supply that has been used provides the voltage and current which is required for effective performance

Events Management Law Essay Example | Topics and Well Written Essays - 2500 words

Events Management Law - Essay Example Also the overall situation while reviewing the terms of the contract. But it would not be wrong to mention that, in this case, the requirements of the audience were not considered during such previous deliberations. The main questions that arise is this: Are the basic needs of the audience, viewed in the light of shows conducted by highly acclaimed and successful divas as the present one, subservient to such demands and is it necessary to bend rules and conduct to suit individual requirements, much to the detriment of common health and safety norms. The laws relating to law of tort could be applied in this particular instance which could hold the organising groups responsible for deficiencies in public services by not providing basic amenities to the viewing public. There are also elements of lack of car or imputed negligence which could become cause for later action. It needs to be reaffirmed that in such events, the onus of proving that standards of care were maintained would lie on the organisers who have take up the responsibility for stage managing this concert. It would be first of all, necessary to take up aspects of health and safety laws since providing for necessary air- conditioning would come primarily under public safety standards. Apparently, there has been a deficiency in service, and audience comprising of around 12,000 people had to endure 90 F heat and resultant health detriment. It is quite possible that the section of audience who have suffered health loss could file suits against event management organisers for reparation of health damages due to exposure to excessive heat and related hazards. The organisers could seek remedies under insurance coverage schemes, or exclusion clause. The main idea behind exclusion clauses is to limit or exempt the extent of liability in the event of any problem relating to performance of agreed contract. The conditions for the enforcement of the exclusion clause

Environmental Management and Quality System Essay

Environmental Management and Quality System - Essay Example In addition, it is a formal approach to managing the aspects of an organization’s activities, products, and services that have or could have an impact on the environment (Sheldon & Yoxon, 2002). According to Muchemu (2008), a quality management system is the organization’s structures, processes, procedures, and resources needed to implement quality management. The international and national standards are used to form the foundation for effective quality management systems (Schlickman, 2003). Hallmark is the largest greeting card company in the world owned by a family since it was started more than a century ago. It has an ISO9001 and ISO14001 certified system and other certified systems like BRC, SMETA/SEDEX Ethical, and FSC. In addition, it has other non-certified systems like ISO18001, PEFC, and ISO26000. Having this certified systems means that it is dedicated to management review, legal compliance, continual improvement, internal communications, traceability, concer ns/ incidents and training. This organization has environmental objectives that build to a strategic plan for each area of operations business. It also has personal objectives via appraisal process and independent verification of achievements. The Hallmark’s approach to implementation of environmental management system is by identifying key performance indicators, improvising a mean of measuring those performance indicators and designing a way of improving those performance indicators. One of the key performance indicators that the company has chosen in its approach to implementing environmental management system is to reduce water consumption by a further 5% by the end of this year, based on a 2009 baseline. The company measures this performance indicator using the monthly water usage figures provided for each site by the Yorkshire water company. In the company implementation approach, it aims to improve this key performance indicator by increasing awareness about water cons umption and the costs it brings to the company among all its employees. Moreover, the company is introducing an initiative on reducing water usage. This will be working with cross-functional teams to ensure a reduction for resources that the company uses in its processes. Another key performance indicator that Hallmark decided to use in its approach to implementing an environmental management system is ensuring a reduction in its carbon footprint by a further 2% by the end of this year compared to a 2008 baseline. In this approach, the company uses the annual reporting on energy consumption, LPG consumption and diesel consumption to measure this key performance indicator. To achieve various improvements on this performance indicator Hallmark has designed an energy management team that consists of cross-functional members. This team has been holding several meetings to discuss possible energy reduction initiatives that require being introduced. Moreover, the company has also designed staffs awareness program to educate its staffs on maximum energy utilization and effective energy saving techniques. To continue working towards recycling 95% of all solid wastes by the end of this year is another key perform

Events Management Law Essay Example | Topics and Well Written Essays - 2500 words

Events Management Law - Essay Example Also the overall situation while reviewing the terms of the contract. But it would not be wrong to mention that, in this case, the requirements of the audience were not considered during such previous deliberations. The main questions that arise is this: Are the basic needs of the audience, viewed in the light of shows conducted by highly acclaimed and successful divas as the present one, subservient to such demands and is it necessary to bend rules and conduct to suit individual requirements, much to the detriment of common health and safety norms. The laws relating to law of tort could be applied in this particular instance which could hold the organising groups responsible for deficiencies in public services by not providing basic amenities to the viewing public. There are also elements of lack of car or imputed negligence which could become cause for later action. It needs to be reaffirmed that in such events, the onus of proving that standards of care were maintained would lie on the organisers who have take up the responsibility for stage managing this concert. It would be first of all, necessary to take up aspects of health and safety laws since providing for necessary air- conditioning would come primarily under public safety standards. Apparently, there has been a deficiency in service, and audience comprising of around 12,000 people had to endure 90 F heat and resultant health detriment. It is quite possible that the section of audience who have suffered health loss could file suits against event management organisers for reparation of health damages due to exposure to excessive heat and related hazards. The organisers could seek remedies under insurance coverage schemes, or exclusion clause. The main idea behind exclusion clauses is to limit or exempt the extent of liability in the event of any problem relating to performance of agreed contract. The conditions for the enforcement of the exclusion clause

The Porters Five Force Analysis Research Paper Example | Topics and Well Written Essays - 2000 words

The Porters Five Force Analysis - Research Paper Example Product innovation and wider range of products is another platform for competition. Companies need to expand their reach to cater to more and more customers, both geographically and demographically. Competition will intensify in relation to environmental measures and energy use, as customers' attitudes to the environment become gradually more important. In this scenario, basic technological trends will lead to a variety of technical vehicle-related innovations. With the shift in focus to customer retention and loyalty, companies now have to invest in better customer service to ensure customer satisfaction. Better service also includes better geographical advantage to serve where the customers are located. There is little bargaining power for buyers in the luxury car segment as there are numerous buyers scattered all around the globe. There is better transparency and huge amounts of information available to buyers regarding the pricing and cost of manufacture of cars and hence they have some leverage in negotiating the purchasing price. This advantage is mostly over-ridden by the fact that buyers for this segment are mostly individuals and are not grouped together for a collective advantage. Since luxury cars are sold typically by the company or direct dealers, there are few players in the distribution channel at present. Luxury cars have lower or no resale value as compared to economy cars. This is an enormous factor that influences buying decisions in the case of luxury cars. Bargaining power of suppliers The suppliers to large premium segment manufacturers would typically be large and medium manufacturers themselves. Since quality is the biggest product differentiator in this segment, it is imperative that companies choose their suppliers with care and efficiency. In such a case, it would be difficult to replace or change suppliers with ease. As a result they have some flex in determining product pricing, delivery and distribution. Threat of new entrants The threat of new entrants in this segment is very low due to the many entry barriers that exist in this industry. There are too many well established companies with stiff competition among them. A huge amount of capital is required to enter into this sector. There should also be tremendous amount of tacit and explicit knowledge of products and constant innovativeness to compete in this industry. The luxury car segment is driven by quality and goodwill as well and this comes with time and experience in the sector. With all the above barriers, few companies would look into entering this industry . However, there is the threat of companies already existing in the auto industry, entering into the luxury car segment. Many companies, which originally were small and economy car makers, have now entered into the luxury car segment and are giving the bigger and better established giants in this segment a run for their money. Threat of substitute products The most prominent substitute to cars is public transports such as buses, taxis and aircrafts. The bigger companies in the premium car segment have taken steps to compete with public transportation by manufacturing luxury buses and providing pick-up service in their premium cars as part of the hospitality sector. The other