Important Celebration Finance Chinese Essay Example Pdf - Free Essay Example

Sample details Pages: 6 Words: 1905 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Tags: Celebration Essay Did you like this example? Chinese New Year is an important celebration that necessary been celebrated by all the Chinese in the world. That is more than 1.3 million Chinese around the world (World Popolation 2012, 2013), therefore, Chinese New Year already be treat as a important festival that necessary be celebrated and be include as a public holiday for most of the Asia country such as Malaysia, Singapore, Taiwan, China, Hong Kong, and South Korea (Chinese New Year, 2013). Stock market will be always changes according to the variation of environment such as different holiday on different country will affect the stock price differently. Don’t waste time! Our writers will create an original "Important Celebration Finance Chinese Essay Example Pdf" essay for you Create order Chinese New Year is one of the holidays that will affect the stock market in most of the Asia country such as Malaysia. The stock market exchange will become anomalies on before, during and after the Chinese New Year period, which is known as Chinese New Year effect (Chinese Lunar New Year: Year of the Snake, 2013). Chinese New Year effect that occur in banking industry, may because by the different demand and purchasing on the market in before, during, and after Chinese New Year. For example, before the Chinese New Year is coming, most of the company will award yearend bonus to their employees. Besides, preparation before Chinese New Year such as buying some traditional New Year decoration, food, drink, clothing, shoes, and accessory. That will relatively increase the demand and purchase ability in a period of time (Chinese New Year, 2013). In this research, two stocks in same industry will be selected and the data period for both stock price and market index shall starts from 1st January 2007 until 2nd February 2012. Those will using the up to date data to observe the relationship between Chinese New Year and stock returns. Literature Review January effect or turn-of-the-year effect January effect or called turn-of-the-year effect is a good example of seasonal abnormal in security markets around the world. During turn-of-the-year, certain types of securities produce positive abnormal returns. Stock prices tend to rise during the starting of the last trading day in December and ending on the fifth trading day of January. Rozeff and Kinney (1976) found a seasonal pattern in the New York Stock Exchange (NYSE) index over the period of 1904 to 1974. The average monthly return in January was about 3.5 percent, while the average return in other months was just 0.5 percent. The average return in January appeared to be seven times higher than returns for other months (Lim, Ng, Chong, 2010). Keim (1983) found that the abnormal return is related to the stock market capitalization. As such, small capitalization stocks outperform large capitalization stocks in January, as small capitalization stocks post a higher abnormal return than large capitalization stocks. Reigan um (1983) confirmed that the January effect is a small capitalization phenomenon (Su, Dutta, Xu, Ma, 2011). The Weekend Effect Doyle and Chen (2009) suggested a weekday effect that the day-of-the-week changes over time. As pointed out by Cross (1973), the weekend effect involves negative returns to stocks between Friday and Mondays close has been analyzed in the literature. Several studies have investigated the reversal of the weekend effect. Brusa, Liu, and Schulman (2000) discovered that Monday returns for U.S. stocks were positive and the largest during 1990s. Brusa, Liu, and Schulman (2003) showed that weekend and reverse weekend effects exist in a wide range of industries and that the effects are similar across months. Brusa and Liu (2004) found that the positive Monday returns are concentrated in the first and third weeks of each month, while Brusa, Lui, and Schulman (2005) showed that the reverse weekend effect is correlated with the previous Friday return. Thus, positive Monday returns for large stocks are likely to be observed after positive Friday returns. Seasonal anomalies These seasonal abnormal include holiday effect, day-of-the-week effect, and month-end effect. Most of the interests are seasonality began in 1966 when a market technician, Arthur Merrill, identified an obvious trend of stock prices on certain days of the week, at certain times of the month, and around holiday seasons. Merrillà ¢ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢s (1966) work on literature aimed at both identification and explanation of these seasonal irregularities in asset returns. Several studies have studied the securities prices having abnormal returns over the weekend, that is, the day-of-the-week effect. French (1980) shows that US common stocks held over the weekend earn a small negative return (Does seasonality in the Kuala Lumpur Stock Exchange still exist). Gibbons and Hess (1981), and Keim and Stambaugh (1984) also provide empirical evidence that supports this weekly stock return. Ariel (1987) examines US. stock indices returns from 1961 to 1981 and finds stocks appear to earn positive average returns only around the beginning and during the first half of calendar months, and zero average returns during the second half. Holiday effect According to the efficient market hypothesis (EMH) by Fama (1970), stock prices follow randomly and past information cannot be used to predict the future. Therefore, there should be no abnormal returns on special occasions such as holidays. Lakonishok and Smidt (1988) significant return before US public holidays. These pre-holiday returns are two to five times higher than returns before a weekend and 23 times higher than those on normal days. These results are confirmed by several other studies, such as Pettengill (1989) and Ariel (1990). These studies all focus on developed financial markets (Dodd Gakhovich, 2011). A number of studies have also examined the post holiday effect. Lakonishok and Smidt (1988) find insignificant post-holiday returns until 1952 and significant positive returns afterwards. However, Kim and Park (1994) document negative post holiday returns for the UK, and Lee et al. (1990) for Korea and Singapore. The magnitude and statistical significance of pre hol iday returns may vary on specific holidays. Returns prior to religious holidays tend to be higher than returns of other holidays. Chan et al. (1996) show significant pre-holiday effects before cultural holidays in Asia. Specifically, Malaysia sees abnormal returns before Chinese New Year. Chinese New Year effect Gao and Kling (2005) also found a pattern of market return in both Shenzhen and Shanghai stock exchanges with the highest return in February, but it is insignificant as well. The explanation for the seasonal high return in February in China is that February is the turn-of-the-year in China, as the Chinese Lunar New Year usually begins in late January or sometime during February, rather than the calendar year. However, Zhang and Sun (2003) by examining the seasonal anomalies in China, reported that there is no January effect or a February Chinese New Year effect on the Chinese stock market. But a significant and positive March effect was found. The explanation is interesting that they consider that the March effect in China reveals the political nature of financial anomalies in the country. March is the political high season in China and in March political window-dressing is caused by political maneuvers (Chinese New Year, 2013). Methodology In order to examine the impact of C hinese New Year on the stock performance in 2012, we is required to select two stocks in the same industry and also searching for their daily stock prices from the yahoo finance. After that, download the daily market index of Malaysia such as FBM KLCI from the yahoo finance. The industry be chooses is financial industry and the two stocks be chooses is Hong Leong Bank and Public Bank. Next, the data period for both stock price and the market index are starts from 1st Jan 2007 until 2nd Feb 2012. The event window for these two stocks is -5 to +5 it is mean that is lags 5 days and leads 5 days are used for the detection of CNY effects. The event day is set as 0 and the period from 1st Jan 2007 to -6 serves for the estimation period. In terms of the calculation, we are required to estimate the daily returns for the both stocks that chooses and FBM KLCI. Second, regress the stock return against market returns in the estimation period (1st Jan 2007 until 2nd Feb 2012) in order to e stimate alpha and beta coefficient for the companyà ¢ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢s stock ( Hong Leong Bank and Public Bank). Third, apply the estimated alpha and beta coefficient in the Capital Asset Pricing Model (CAPM) in purpose to compute the expected return of companyà ¢ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ÃƒÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¾Ãƒâ€šÃ‚ ¢s stock in the event window by using Capital Asset Pricing Model (CAPM) formula. Capital Asset Pricing Model (CAPM) formula as follow: Where: = risk free rate = Beta = return on market Then, subtracting expected return from the estimated return in order to calculate the abnormal return (AR). The formula as following: Where: R = estimated return E(R) = expected return Where: P = Price t = Period of year Analysis Table 1 Event window of Hong Leong Bank Hong Leong Bank Date R(i) R(m) AR 2012/1/16 -5 0 -0.00924 0.002544 2012/1/17 -4 0.0018365 0.006802 -0.00083 2012/1/18 -3 0 -0.0013 -3.2E-05 2012/1/19 -2 0.0091325 -0.00038 0.008799 2012/1/20 -1 0.0090498 0.003849 0.007346 2012/1/23 0 0 0 -0.00045 2012/1/24 0 0 0 -0.00045 2012/1/25 1 0.0178576 -0.00191 0.018021 2012/1/26 2 0.0262024 0.002694 0.024873 2012/1/27 3 0.0085837 -0.00194 0.00876 2012/1/30 4 -0.0172418 -0.00484 -0.01612 2012/1/31 5 -0.0122486 0.005101 -0.01436 Graph 1 The table 1and graph 1are showing the stock price flow of Hong Leong Bank in the pre-Chinese New Year until post-Chinese New Year. According to the graph, we can realize that the stock price is flowing downward before the 3 or 4 days of CNY. In the financial industry, that will be a normal situation will be form before the CNY. This condition may be cause by the large funds transfer before the CNY especially for the company. Norma lly, most of the company will award the yearend bonus to their employees before the CNY (Chinese New Year, 2013). Bonuses usually be given is 2 or 3 month or more than 3 month per person, therefore, there will be a large funds transfer between the company and bank. Besides, for the individual will many increase their funds transfer in order to make some preparation before Chinese New Year such as buying some traditional New Year decoration, food, drink, clothing, shoes, and accessory. That many because by the Chinese New Year effect however that also may be affect other effect such as holiday effect. The magnitude and statistical significance of pre holiday returns may vary on specific holidays. Returns prior to religious holidays tend to be higher than returns of other holidays. Table 2 Event window of Public Bank Public Bank Date R(i) R(m) AR 2012/1/16 -5 -0.00152 -0.00924 0.000724 2012/1/17 -4 0.00304 0.006802 0.000778 2012/1/ 18 -3 0.004542 -0.0013 0.004557 2012/1/19 -2 0.001509 -0.00038 0.001264 2012/1/20 -1 0.003012 0.003849 0.00158 2012/1/23 0 0 0 -0.00035 2012/1/24 0 0 0 -0.00035 2012/1/25 1 0.001503 -0.00191 0.001687 2012/1/26 2 0.005988 0.002694 0.00488 2012/1/27 3 0.002981 -0.00194 0.003176 2012/1/30 4 0.005935 -0.00484 0.006944 2012/1/31 5 0.001478 0.005101 -0.00031 Graph 2 The table 2 and graph 2 are showing the stock price flow of the public Bank in the pre-Chinese New Year until post-Chinese New Year. For the stock price flow of Public Bank we can realize that there are pretty similar with the Hong Leong Bank, however this similarity may because by the Chinese New Year period effect. However the stock price of Public Bank may also be affect by the announcement that announce before the CNY which is on January 11, 2012 (Gerenal Announcement, 201 2). This announcement can be categories as a general effect and that will affect the performing of the stock market. General effect means that, this effect may be usually happen in any time anyway. Conclusion According to the two tables and graph above, we can realize that both of the graphs are showing the similes flowing in before, during and after the CNY. However, that is some different between this both stock that choose specially in middle of the CNY. In the middle of the CNY, the stock price of both bank are starting going upward. The stock price of Hong Leong Bank are direct climbed to a high point and then slipped. Public Bank stock price are starting going upward and slipped a little bit, after that direct climbed to a high point and then slipped. That may be related to the announcement that Public Bank announce on January 11, 2012.

Free Toefl Essay Samples Ideas

Free Toefl Essay Samples Ideas Knowing the most frequent IELTS essay topics lets you revolve around the most crucial vocabulary. It may also be beneficial to review other TOEFL writing samples to receive a better idea about what an excellent TOEFL essay appears like. Essay Writing Guide Here's an amazing app that is believed to be the encyclopedia in teaching. Writing about a different topic is a simple means to receive a very low score. A superb prep book can be absolutely the most important study tool you use, and we've got information on all the very best TOEFL prep books you should think about. There are two major means by which you can use the most frequent IELTS essay topics to your benefit. If you're going to succeed in the IELTS test you must be using and exposing yourself to English everyday. In your case, for instance, although you could be completing many writing practice tests, if you've got no professional feedback from a TOEFL mentor, you are not going to know whether you're improving. You recently heard that the community you are living in may be receiving a new high school, which is not yet been built. The majority of the questions are on current topics, therefore staying updated with what's going on in the world is really going to help you think of ideas. A library may be a location precisely where you can research, or it may be a location of run away from buddies or households or your duties, a nd is actually a shelter exactly where you could be ready to discover peace and calm therefore acting as your sacred site. Some folks feel your community would be a fantastic place to track down the university. Ok, I Think I Understand Free Toefl Essay Samples, Now Tell Me About Free Toefl Essay Samples! 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Analytical application Example

Essays on Analytical application Essay Factors Influencing Exchange Rate between the U.S. Dollar and Euro Factors Influencing Exchange Rate between the U.S. Dollar and Euro A look into the performance of dollar shows that it fell by 30% against euro in the year 2010. As Rahn (2003) points out, in the place of the 80 cents one had to pay for each euro in 2009, presently, one has to pay 1.24 dollars per euro. While some scholars argue that a further fall is in the pipeline, a rational assumption is that as dollar already reached its minimum, its value is likely to improve in the coming years. The various factors that are considered as influencing factors on dollar-euro exchange rate are the international real interest rate differential, relative prices in the traded and non-traded goods sectors, the real oil price, and the relative fiscal position (Dollar-euro currency exchange). A look into the various analytical works prove that the main reason behind the present fall in dollar value is the large trade deficit, which, in turn, was created by the flow of foreign investment dollars into the US economy. One can say undoubtedly that the world countries will not let the dollar go down as such a fall will adversely affect their own national interests. To illustrate, the US economy offers more return on capital than its European counterparts. As a result, foreign governments, especially the Asian giants like China, Japan and India, have purchased considerable amounts of US dollars as reserve backing for their own currencies. So, a significant fall in the dollar will have an adverse impact on these investor economies. Admittedly, the present day fall in dollar value is primarily as a result of the decline in private foreign investment and is in no way connected with foreign governments. Before its fall, dollar witnessed a sharp rise against the euro, and because of this growth, there arose a belief among private investors that dollar has become too expensive to afford. So, there was a natural shift towards euro as the only other option. As a result, dollar came down the way it went up. Now, experts point out that as far as America manages to offer a higher return on investment, it will remain as the primary destination of investment for foreign banks and private investors. As the demand for dollar will grow again, the current deficit will be overcome. However, there are certain governmental initiatives that have already tarnished the image of America as an investor-friendly nation. Some examples are the Patriot Act and the Sarbanes-Oxley Act. As a result of such provisions (as reported by The Economist ) that require extensive paperwork and offer the threat of privacy intrusion, foreign investors have lost interest in the America economy. In the opinion of Gene Epstein, in order for dollar to further collapse, there conditions should exist at the same time. First of all, there should be an existing weakness for dollar that makes investors look for other options. Secondly, there should be another more beneficial option, and thirdly, there is the need for a triggering event. It is pointed out by the scholar that the first option is already in place. This is so because dollar has already fallen by more than 30% in a period of one year. However, the problem is that there is no viable alternative at present for dollar. According to Eps tein (2011), this is so because while 61% of the foreign currency reserves are in dollars, the nearest rival euro only has 30% of the reserves. In addition, there is the debt crisis faced by the euro-zone. As a result of all these, one cannot consider euro as a viable alternative to dollar. The third point is the occurrence of a triggering event. In the case of dollar, a possible triggering event is the dumping of treasury notes on the secondary market by foreign governments. If such a measure is taken by countries like China or Japan, there will be panic in the market leading to dollar collapse. However, a look into the business tactics of these nations proves that such a step is unlikely from either of them. To illustrate, it is a known fact that China has nailed its Yuan to dollar in an effort to keep its exports to the US cheaper. Thus, if it resorts to such measures that will cause a fall in dollar, China will lose its position as the cheapest exporter. Very similar is the case of Japan too. The nation wants to promote exports to the US, and the only way in front of them is to keep dollar high. So, despite its 800 billion dollars of treasury notes, Japan will not try to dumb the dollars as far as the nation wants to depend on exports. However, one cannot turn a blind eye towards the distant possibility of other nations becoming better markets than the US. Still, as far as US is the best market in the world, the investors will not let dollar go uncontrollably down. References Dollar-euro currency exchange. Easy Forex. Retrieved from http://classic.easy-forex.com/en/Forex.dollareuro.aspx Epstein, G. (2011). Milton Friedman’s Euro Smack down. Barron’s. retrieved from http://online.barrons.com/article/SB50001424052702303544204576542853219931480.html Rahn, R. W. (2003). How far will the dollar fall? Washington Times, 30 December. The rise and fall of the dollar: Go with the flows. The Economist. Retrieved from http://www.economist.com/node/17956749

Egg Drop Experiment free essay sample

Drop The purpose of this lab, was to create a device to help an egg survive the fall from a fire truck without breaking. In this lab I used a beer holder and cotton balls and a gel pillow to help the egg survive the fall. My procedure was to put a few cotton balls in the beer holder then I put my egg in it, next I filled the rest of the holder with cotton balls. Finally I taped the beer holder to my weighted pillow and it weighed around 490g. My results concluded that my egg hit to hard and cracked on the concrete. As the projectile was falling it didn’t fall straight and landed right on the part holding the egg not the pillow as I intended. I thought my project would work if it would have fallen right. My cradle was soft and I thought it could have saved the egg. We will write a custom essay sample on Egg Drop Experiment or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page If I were to improve my project I would have used something harder as a base and tried to keep the egg more secure. I would have also tried to accelerate the time of impact to try and save the egg. After the drop I realized my egg had not survived. The egg hit the ground to hard and cracked along the top of the egg. There was contact between the egg and the surrounding objects to a point where it cracked the egg. My results were what I was expecting because I was not sure if the container would fall straight down or move like it did. I was disappointed but it was a nice attempt to save my egg. If I were to do this experiment differently I would have used something harder as a base and tried to keep the egg more secure. I would have also tried to accelerate the time of impact to try and save the egg.

Sharp Corporation Essay Example

Sharp Corporation Essay [emailprotected] CORPORATION: BEYOND JAPAN INTERNATIONAL BUSINESS MANAGEMENT . 3 . 8 TABLE OF CONTENT PROBLEM STATEMENT ANALYSIS DISCUSSION OF ALTERNATIVES RECOMMENDATION EXECUTIVE SUMMARY CITATIONS EXHIBITS 3 5 Sharp Corporation needs a major overhaul of its business model. Sharps previous model of make in Japan, sell overseas has been successful until recently. Currently, with the increased mobility in engineering talent and technology transfer, companies from new emerging markets such as South Korea and Taiwan are gaining the competitive advantage over Sharps outdated business model that no longer fit with he firms strategy or the business environment. Sharps previous president, Katsuhiko Machida, adhered to the principles of keeping manufacturing in Japan. 3 Following this principle had some advantages in the domestic market but had major disadvantages for fulfilling demand in the international market. Sharp is becoming popular in the international market with significant increases in foreign sales revenue (Exhibit 1). Due to the fact that all of its products were manufactured in Japan, Sharp were unable to keep up with the international demand for its product. With more than 54% accounting for nternational demand, implementing an effective supply medium to deliver its product is imperative for Sharps success2 (Exhibit 4). Some products lost as much as 10% of its value, in the shipment time duration it required to reach its target market. With Sharps products not flowing to the target market smoothly, competitors including South Korean and Taiwanese companies were gaining a competitive edge. Sharps inability to supply their product efficiently to the international market correlates to the negative effect on the domestic market as excessive company resources were being channelled elsewhere (Exhibit 2). The negative effect may also have been caused by the foreign exchange rate. With the majority of its inventory being sold abroad, Sharp now faced a new issue which was beyond its control. We will write a custom essay sample on Sharp Corporation specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Sharp Corporation specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Sharp Corporation specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The foreign exchange rate was susceptible to an array of different environments and varied consistently through time (Exhibit 3). The increase in the value of the US dollar meant operating income for Sharp was relatively lower as well. This is mostly notable in year 2009, when the Japanese Yen devalued the most against the US dollar $, which aided in the operating loss of millionl . No significant financial rovisions were taken in order to mitigate foreign exchange losses by Sharp. Sharp has been continuously investing large amounts in production facilities in Japan and then exporting key devices to be assembled in foreign countries. 4 Basing most of its operation in Japan, Sharp had the disadvantages of paying higher tax rates and costly infrastructure in comparison to its competitors who based their core businesses in key strategic locations with minimum tax implications and low infrastructure costs. 6 Also, due to excessive domestic investments, Japanese plants had turned into high alue added knowledge, while overseas plant lacked any of this traits which is detrimental for any overseas expansion strategy. Using the black-box approach Sharp has been secretive about its production and was unable to reap any benefits that might be possible through effectively engaging in value chain integration to suit their needs; while its competitors were readily exchanging and integrating industry knowledge. Sharps emphasis on combining knowledge and capabilities in ways other firms could not imitate is not feasible in the age of Globalization where satellite and internet communication is readily available to everyone. The increased mobility of crucial talent and technology transfer within the industry is something Sharp had not experienced 5 10 years ago. Sharps intellectual property is limited to the core operations of the company itself. 4 Due to this, Sharp were confined to the industry knowledge within their company and had limited access to RD from different companies within their value chain. Sharp did not have a stringent plan to remain as an industry leader in its LCD division as well. Most of the competitive advantage it gained is through using its proprietary LCD technology Four Primary Colour and by increasing the sizes of the TV. Sharps business outlook in the LCD market to gain competitive advantage by increasing the sizes of the TV, is not farfetched as the company is now beginning to realise that the customers had a threshold point on the sizes of TV they wanted. The new president of Sharp Mr. Katayama had a Globalization attitude to the companys business model. Sharp is in the verge of creating a new identity for itself. It is a major player in the industry and could not operate in an also ran basis that it used to in the past. It needed new alternatives to remain on the top and gain competitive advantages over its competitors. Starting production in an international market seemed unlikely in the previous business model which followed the make in Japan, sell overseas principles. With recent losses in the companys financial statements, and worsening economic conditions it is imperative for Sharp to overcome this limitation. Starting production in major markets and developing specialized knowledge internationally would divert the focus of heavy investment in Japanese plants/infrastructure. Access to lower-cost workers, technical expertise, lower transportation costs and productions inputs are a Just a few benefits Sharp ould be able to realize with the new business model. However, there were many risks associated with expanding production to a foreign country. Thorough investigation on the feasibility of this option needs to be scrutinized accordingly. Changing operating model from vertical integration to horizontal integration for the companys production technologies and manufacturing capabilities will give it a better standing in the competitive market. Forming alliances with local companies in major markets such as China, to establish a value chain would maximize efficiency and cash flow (Exhibit 5). Up until recently Sharp has been building plants in Japan for front-end processes with their own resources5. With its knowledge centres and infrastructure located solely in Japan, Sharp could benefit from it by bolstering cutting edge production technologies/manufacturing capabilities nationally and extending its technologies gradually to global sites. Aiming to create a value chain in the consumption area/maJor markets, encompassing each step from procuring materials through manufacturing and sales; an internal company concept known as local production for local consumption, would allow Sharp to receive a return on its roprietary technologies and technology assistance fees such as initial payments, royalties, dividends and revenues from Joint ventures. This serves to reduce risks involved in foreign exchange rates and the recovery of capital expenditurtes4. Sharp has already started this initiative with its Solar Cell product division, forming alliances with Italian power company Enel SpA3. This trend n other product divisions as well. s to follow suit for its Starting a new manufacturing plant outside Japan would be capital and labour intensive. It would also expose the company to various risks such as financial, olitical, environmental, and legal risks. Alternatively, integration through value chain approach would allow Sharp to mitigate some of the risks involved compared to starting a new plant and would not require intensive capital investment. Forming value chains would allow Sharp to access the benefits from well established businesses which are already firmly integrated in the local business environment. It would also allow Sharp to access and understand potential opportunity for future markets for its products as the current markets gets saturated. Integration with arious international value chain means Sharp would adapt an International Firm Management technique in the global business environment. Up until now, Sharp had minimum production technologies/manufacturing operations internationally and operated its production plants predominantly in a national level. Despite the potential benefits of global markets, Sharp must constantly monitor the match between the firms product and new markets to not overlook the needs of the buyers. Sometimes, the benefits of serving customers with an adapted product may outweigh the benefit of a standardized product5. The value chain will allow Sharp to perform distinctive, speedy and efficient R using open innovations and cooperation with partners to gain expertise in fields of technology that are new to Sharp8. However, while operating in foreign markets it should protect its intellectual property and industrial properties through various mediums of patent, trademarks and copyrights. Sharps previous model make in Japan, sell overseas has not been successful recently because the market has changed dramatically. Its operating model had not historically emphasized co-operations with other firms. With increased mobility in ngineering talent and technology transfer, companies from new emerging markets has made its previous business model obsolete. If Sharp wanted to remain as an industry leader it had to change its operation model to suit the Globalization environment. Integration with the international value chain to provide production technologies and manufacturing capabilities beyond national borders would allow Sharp to mitigate expensive legal risks, political risks, shipment cost, infrastructure cost (home/abroad) and foreign exchange fluctuations. It also opens an opportunity to new markets for Sharp as current markets gets saturated. While adapting to a new operating model, Sharp should always consider the risks implications such as global market trends, business partners, intellectual property rights, litigations, and technological innovations which may have significant effect on the financial statements. SHARP Corp. (2009) Opening New Frontier Annual Report, Consolidated Statement of Operations (p. 44) 2 SHARP Corp. (2009) Opening New Frontier Annual Report, Financial summary (p. 36) 3 SHARP Corp. (2009) Opening New Frontier Annual Report, New Business Model (p. 8) 4 SHARP corp. (2009) opening New Frontier Annual Report, Introducing a New Business Model (p. ) 5 John, J. W, Kenneth. L. W, (2012). International Business: The challenges of Globalization, Sixth Edition. Pearson Hall 6 Lehmberg, D. (2011). Sharp Corporation: Beyond Japan. Richard Ivey School of Business Exhibit 1: Various Equipment type sales in 2009 for Sharp Corporation Equipment type Audio Visual/ Communication 2 Health/Environmental Informatio n 4 LCDS Solar cells 6 Other Electronic Devices Exhibit 2: International Sales Vs Domestic Sales for SharpCorporation Exhibit 3: Foreign Exchange US $ vs Japanese (2007 2009) Exhibit 4: Sales by Region, Sharp Corporation Exhibit 5: Sharp Corporation (2009) Annual Report

Family By Pa Chin Essay Essays

Family By Pa Chin Essay Essays Family By Pa Chin Essay Paper Family By Pa Chin Essay Paper The social conflicts that are described mostly in Pa Chins novel, Family re the problems of being a filial son/daughter and the importance of being in a higher status. In the beginning, the novel begins with introducing the three sons who are the successors of the family. The eldest son, Junkie, is the one that will be the person to rightfully inherit the throne from his father and hold the family line. Even though there are three brothers and they all have the same mother and live in the same house, Junkies position is different from theirs. Because he is the first son of the first son (Pa, p. 293), his destiny has already been decided for him the moment that he came into the world (Par p. 5). And to become the filial son that he had to be, he must obey all orders from the elders, because in that way Junkie is showing his family and the world that he is capable of accomplishing these orders that are given to him and it shows that he is a devoted son to his family and to others. Although there are also orders that are put on Jimmie and Juice, they do not have as much responsibility as Junkie. : When their father makes the decision for Junkie to marry after graduation and tells him to quit his university studies and start to get a job; he agrees and completely goes with whatever his father says (p. 36). In this way, it is showing that Junkie is being a filial son and doing his rightful duties, but at the same time it makes him cowardly. It makes him become like a machine, a robot; doing whatever anyone says no matter how painful it is. It is understandable the Junkie is just trying to fulfill his duties and make sure that he does not go against his father or his grandfather or any elderly person, but still he loses all his freedom and basically his life. By doing what he does in the novel just basically means that he put his life into the hands of money else, someone who will control him for the rest of his life. And by the time that he is able to take control of his life and his goals, he would be old and not even capable of doing anything besides making orders all day to someone else. As for Jimmie and Juicer they are a bit more different. They understand the whole being filial to your elders thing, but they still do whatever to get what they want, especially Juice. Being the rebellious person that he is, he never listens and in fact wishes that he could leave his home and get the freedom that he wants. Juice knows of the whole family system and the whole fulfilling what your elders ask of you to do and understands it, but unlike his eldest brother, he wants to rebel. Throughout the novel, he wants the free life of being able to make decision for himself and so he disobeys the orders that are given to him. He forms a magazine article with his brother and other relatives, called Dawn, and from there he writes his own articles about the rebellion and publishes them. Even when Dawn is suspended, he and the rest of the members come up with a new magazine name, For the Masses, and intuition with their articles (p. 238). Juice is very bold and defiant that he shows no shame of calling out a person who has done wrong, like when he talked about Master Fen, shouting; That murderer-?old man Fen! (p. 250). Although Jimmie had tried to quiet him down, Juice continued and did not care whether anyone had heard him or not. It is not just the boys that have to deal with filial piety; Sin, although is a girl, also has rules of her own that is given by her mother and other elders. Being the only child that she is, her mother requires a lot from her. And seeing the main that her mother went through after her father has passed away, Sin did not want to disobey her mother. Although she too is like Juice, because of her mother, she is willing to listen and follow the orders that are given, because her mother is currently living a miserable life. Therefore when Chine- juju talks to her about cutting her hair and going to a co-De school and those many things, Sin cannot help but retreat from doing all that because of her mother. Some time ago made up my mind that should do what I want. But when the time comes when can do what want Hind of her toiling through miserable years of widowhood to bring me up, all the while loving me, caring for me, and it is now my turn to make her happy (p. 197) The pain that her mother have gone through, Sin wanted to get rid of it by being by her mothers side and comply with everything that her mother asks of her. Although she is only a girl and should being her duties that many other girls should being d oing; she strives for education and freedom of her own rules. When she hears from Jimmie about his school becoming coed, she immediately wants to transfer there. She wants to make a difference in the society and change the rules around, making all boys and girls being able to attend class together and learn the same things. Girls are human beings the same as boys. Why shouldnt they study in the same classroom? (p. 32) As seen from this quote, Sin believes that there should be equality between boys and girls and so she insists on going to a coed school even if her mother or her grandmother, or anyone in her family rejects it. Throughout the novel, there are a lot of situations where status is a problem, especially when it comes to being in a relationship. All three brothers encounter this and eventually two of them lose the love of their life, all because of being in a different status. The biggest problem in Sushis life overall is because of this that makes him not only want to disobey the elders but make a change in the society. Because he falls in love with Mining Fen who is of a lower class than he is, the two do not end up with one another. Therefore, it results in Juice to hate everyone in his family and for him to leave home for good. Because of Mining Fen is only a servant in the Gao household, she is to obey he orders that are given. She cannot be in any sort of contact with Juice or else she would get a scolding. In the beginning, Juice does not know that holding Mining Fen back and talking with her will cause her pain. He does come to realize and this is what makes him start to want to rebel and leave his home (p. 20). Hence, when Mining Fen commits suicide, he puts the blame on his grandfather. He does not understand why someone has to go through something such as being forced to become a concubine and live an even miserable when they already have no relatives and is of a low class. What he is most mad about is that fact that after, Mining Fen died, his grandfather still send another servant to take Mining Fangs place. She ended her life in the waters of the lake, and another girl, weeping, went to the Fen family to bury her youth to satisfy the passions of a lustful old dog (p. 228). In this quote, it really shows how much Juice hate how status is so important in a persons life, that it makes someone else end theirs just because they were Of a lower status. The social problems that are mostly showed in Pa Chins novel, Family; are he difficulties of being a dutiful son/daughter, the relationship between one of higher status and one of lower status, and the role of women equality during this time period. The three brothers lives have been very complicated the day they were born and having experiences so many conflicts during their twenty some years of life, they have finally come to a conclusion of rebelling and choosing the right path. Although they are at different paths at the end of the novel, the three of them are just beginning new journey of freedom and no more social struggles.

Dont Let These 3 Tools Out of Your Sight

Dont Let These 3 Tools Out of Your Sight Whether you’ve taken a break from work for family or personal reasons or have been in the same job since printer paper had those tear-off edges, it’s important that you keep your skills current. This obviously applies to your technical skills and job-specific responsibilities, but here are some simple professional areas to make sure you’re keeping up with the times. 1. GmailAside from their professional email address (their names @ employer.com), my parents still share a personal email address. Until AOL got hacked a year ago, it was an AOL.com address. This is not how to be current.I give this advice to the college freshmen I teach too- get yourself a gmail address with your real name in it. If yours is taken, try a combination with initials or underscores, but don’t get cute with the numbers. In fact, just don’t get cute at all- avoid RollerSkateDiva@Hotpants.com, for example.2. LinkedInWhile my dad is an avid Facebook oversharer (don’t wor ry, I made sure his profile went friends-only once he retired), my mom doesn’t want her face anywhere on the internet. If she’s looking for a new job someday, I worry that she won’t have the kind of positive professional presence that most employers look for. I’m lobbying to get her to set up a LinkedIn profile- it will only have professional information, it allows her to connect with colleagues and potentially useful members of her extended network, and it puts her firmly in control of the reputation her name has online.If you have a LinkedIn already, congratulations! Welcome to 2009! Make sure your summary has up to date contact info, including phone, your new professional email, and a few highlights from your resume’s achievements section.3. SkypeThis is apparently the post where I heckle my nearest and dearest, but my husband has some kind of Skype-induced rage syndrome. Somehow, every time he logs on to use it when he’s working from hom e or out sick, it won’t load or glitches or takes forever to update (the way programs you haven’t opened in a million years often do).My recommendation, should you be in the market for interviews that may ask you to call in over Skype, is to set up your profile (and give it a professional, recognizable handle) a few days early, and practice with a friend or relative you should really be calling more anyway. Practice logging in, locating your contact, initiating and receiving a call, and hanging up so you’ll be ready and professional come game time.  Staying Current is Key to Managing a Successful Career  Read More at www.social-hire.com