How Can College Students Manage Their Money Essay

How Can College Students Manage Their Money - Essay Example A student should also be able to separate wants from needs and prioritize the most significant things. â€Å"Scholarships.com† explains that a good plan must be put into action after identifying the differences between wants and needs (Web). Understanding wants and needs helps in tracking a student’s spending and making sure that a student has sufficient resources in the event of an emergency and enhances making informed money management decisions. Moreover, a student may opt for a checking account that reduces fees on withdrawals or fund transfer and therefore shopping around to find a bank with convenient ATM’s near campus may hugely reduce some unnecessary costs. Just in line with the banking, a student should be able to keep an eye on the account balance before spending against it thus reducing cases where a student budgets for money that is perhaps not existing. Additionally, most students misuse credit cards hence attracting dangerous financial position.   Many students currently use credit cards in carrying out their transactions thus making it easier to amass a large amount of debt while in college. A student should go easy with the credit cards and understand that the easiest way of spending beyond one’s means is charging the credit card (â€Å"Scholarships.com† Web). Students should, therefore, use credit cards sparingly and avoid paying interest on even simple things such as on a bag of chips.

Problem-Solution Essay Example | Topics and Well Written Essays - 1000 words

Problem-Solution - Essay Example Many of them do carry excellent grades in their bachelors or at schools which are never a true reflection of their own selves. Partly the problem is because of the tight academic schedules the institutions are maintaining and partly because the faculty are unable to encourage and inspire their pupils to learn the concepts and understand their applicability too. Previously institutions or universities never used to maintain such demanding schedules, therefore the faculty used to have all the time in the world to prepare the students for the academic challenges. Presently Universities are more bent on sending number of batches out rather than worrying about the quality of the academics offered. For the academia this, indeed has become the greatest worry, especially in a developing country like India. The challenge is up the academia to offer a solution which can make the students saleable to the corporate. The fact that is quite disturbing is that the problem is not because of the grades the students were receiving but because of the poor quality of assessment that is taking place in offering the grades and parameters used to offer grades. The sublime truth is that presently in schools and colleges at bachelor's level we are teaching students' concepts without application (especially in India). All the time the teachers will be focusing on the teaching of concepts and the students will be focusing on learning the concepts. However the student is not aware of how to apply this particular concept in a real time situation. There by all the meaning of education is lost without a trace. The identified problem areas are: The grades are not reflecting the competency of wards in their subjects, This problem is because they are learning concepts all the time without knowledge of application of concepts in a real time situation, the examination system is designed to test their remembering skills rather than testing their conceptual skills, Poor selection of parameters such as written examination and in descriptive mode to analyze application of concepts. Study importance: The study is of prominence in colleges and schools because without learning the application of the concepts in real time situations if the student is exposed to the rigors the academics at higher levels then there is every possibility he/she can become a burnout very soon. Moreover because of the excellent grades they are receiving in colleges and schools because of an insufficient evaluation system, the student feels that he has acquired sufficient skills to enter into a university or take a job, in reality he is not. Challenge for the faculty: The big challenge for the faculty is the fact that they have to make the student understand the ground realities so that ice breaking can be done. Ice breaking is an exercise normally carried out in schools and colleges to make the students feel comfortable realize the persons they are will be easy in the later stages. Once the ice breaking is done then the faculty can turn his/her attention to the task at hand. That is to

Borderline Personality Disorder Essay Example for Free

Borderline Personality Disorder Essay In 1938, the term â€Å"borderline† was first used by A. Stern to describe individuals â€Å"on the border† of psychosis (Koerner and Linehan, 2000). Individuals afflicted by Borderline Personality Disorder, BPD, have unstable sense of relationship, mood, and identity. They exhibit low confidence on professional, sexual, and family relations and frequently experience depression, disappointments, and anxiety. In connection to these, BPD patients are inclined to substance abuse, antisocial acts, erratic lifestyles, suicidal attempts, and self-mutilation. Specifically, BPD patients of ages below than 18 years are commonly diagnosed with identity confusion. The BPD cases have a prevalence of about 0. 2-4 percent in the general public and approximately 15-25 percent among the hospitalized psychiatric cases with co-occurrence of eating disorder and substance abuse (Koerner and Linehan, 2000). Different hypotheses offer a possible etiology for BPD. Some of which ascribed it to the brains constitutional defects in different neurotransmitter systems like in the serotonergic, andrenergic, dopaminergic, and cholinergic systems while other hypotheses associated it to the history of learning disabilities, encephalitis, head trauma, severe hyperactivity, and epilepsy (Koerner and Linehan, 2000). On the other hand, in terms of developmental perspective, the excessive frustrations during childhood, physical-sexual abuse, constitutional predisposition, early parental loss, arrest in normal development, traumatic separation from parental figure and post-traumatic stress disorder are considered as contributing factors in the BPD development (Koerner and Linehan, 2000). Meanwhile, a long term psychotherapy involving reality-oriented or analytic techniques along with drug medications which include mood stabilizers, antipsychotic, and antidepressants is the therapeutic mainstay. Borderline Personality Disorder and Marital Relations Borderline Personality Disorder is a mental illness which causes unstable behavior, self-image, moods, and interpersonal relationships to the affected individuals. Eventually, these instabilities will result to disruption of self-identity, family life, long-term planning, and work performance (Sholevar and Schwoeri, 2003). As well, a BPD patient may experience anxiety, violent bouts of anger, and depression for several hours or even a day leading to substance abuse, aggression, and self-injury. About two percent of adults, mostly women, affected by BPD suffer from instability of emotion regulation which often leads to self-injury and suicidal attempts (Sholevar and Schwoeri, 2003). Consequently, the disruptions of self-identity and cognition of the affected individual cause distortion on his or her gender identity, long-term goals, jobs, values, jobs, and career plans and in the long run may result to unworthy or bad perception about his or her self. As such, the afflicted individuals, more often than not, feel low self-esteem, empty, mistreated, bored, and misunderstood. In severe cases, BPD patients tend to feel lack of social support and isolated which may lead to impulsive avoidance of perceived abandonment. In relation to these, individuals with BPD are susceptible to turbulent social relationships (Sholevar and Schwoeri, 2003). They are prone to frequently agitated relationships and tend to abrupt shifting of attitude from love and admiration to anger and hate towards their family and friends. Hence, they easily idealize and develop attachment to other person; however, in the occurrence of conflict, their attitudes suddenly shift to anger and hate the person they are formerly attached to. In addition, even to their family circles, BPD patients are sensitive to rejection and separation issues. They tend to exhibit other behavioral problems such as risky sex, excessive eating, and extraneous spending (Sholevar and Schwoeri, 2003). The American Psychiatric Association (2000) postulated that a BPD patient most probably may have a chaotic and unstable marital relation which is attributed to the distortions in his or her affects, thoughts, and behaviors. Since, children in this kind of marriage are negatively affected by the behavioral exchanges between the couple, BPD treatment in terms of its cost and mandated implementation became a significant issue. Moreover, the study of Daley, Burge, and Hammen (2000) suggested that the presence and the degree of a personality disorder largely predict the impairment of an intimate relationship. As such, the results of their study fundamentally supported the significance of BPD perspective as not merely just a categorical diagnosis but as a continuum of severity. Whereas every woman in their study was diagnosed with BPD potential, women with more subclinical BPD characteristics tended to practice maladaptive romantic lives (Daley, Burge, and Hammen, 2000). This observation generally implied that the utilization of categorical approach in BPD assessment through systematic diagnostic threshold in inadequate in the detection of variations in the relationship behavior among individuals. Nonetheless, at subclinical levels, the BPD symptoms were not directly linked with dysfunctional marital relationships (Daley, Burge, and Hammen, 2000). Even though every personality disorder has an association with romantic dysfunction, the BPD symptoms failed to generate significant contributions beyond the other Axis II pathology (Daley, Burge, and Hammen, 2000). This signified the crucial role of a factor which underlies every personality disorder under the Axis II pathology for the determination of relationship adjustment. Borderline Personality Disorder and Dysfunctional Marriage In 1938, the relationship between personality disorder and dysfunctional marriage was first noted by Terman, Wilson, Johnson, Buttenweiser, and Ferguson (South, Turkheimer, and Oltmanns, 2008). They hypothesized that the unique attributes of every individual impart them the possibility for relationship dissatisfaction. In 1995, the vulnerability-stress-adaptation model for marital relations was proposed by Karney and Bradburry (South, Turkheimer, and Oltmanns, 2008). This model illustrates the role of individual differences along with interpersonal processes in the achievement of marital satisfaction. The model postulated that personality traits and couples vulnerability directly determine the couples endurance and their behavioral exchanges with respect to the stressful circumstances in their marriage. In relation to these, the symptoms of personality disorder have been tied up with serious couples conflict and marriage violence. Specifically, the partner-violence studies through behavioral analogue and factor-analytic techniques found that borderline personality and antisocial traits of individuals are predictors of the occurrence of violence in married life. Nevertheless, through developmental research, the relationship of personality traits during childhood and adolescent years with temperament and abusive behaviors in an intimate relationship has been reported (South, Turkheimer, and Oltmanns, 2008). For someone married to a partner with BPD, the frequent turmoil in their relationship can either make their bond stronger or at worst, result to hatred and divorce. More often than not, dealing with the love-hate nature of marital relations is exasperating for every couple. In particular, an individual can hardly understand a partner who at one time offers love and adorations then all of a sudden will just lose temperament and fall into horrific rages. This scenario would make the spouse of the BPD patient dumbfounded for the hastily anger may seem came from nowhere at all. The relatives of a BPD patient may experience stress and feel helpless as they witness their loved one suffering from self-destructive BPD symptoms (Sholevar and Schwoeri, 2003). The immediate caregivers, the parents or the spouse are more susceptible to chronic stress due to the pitiful condition of the patient which at worst may even lead to psychological trauma especially for the patients children. For instance, as the patient engages into self-destructive behaviors like self-injury, burning, or suicidal attempts, the immediate caregivers are vulnerable to post-traumatic stress disorder because they directly observe the patients high-risks behaviors as they respond for help. In line with this, the spouse of the patient may experience guilt as he or she tries to figure out the cause or his or her liability in the BPD development of the patient. Meanwhile, close relatives may want to support the patient but are afraid to do so because of the harm they may possibly beget from the self-harm behaviors of the patient. As well, family members may become impatient due to the patients disruptive behaviors. Nonetheless, family members, friends, and relatives may have inadequate knowledge about BPD; thus, they can hardly understand and give empathy to the patient. In the long run, the relationship turmoil between the couple along with the stress and guilt of the patients spouse cause impatience, hatred and may even lead to divorce. Still, the atmosphere at home has a great impact on the personalities of the couples children. For example, the eldest among the siblings are often tasked to look after the needs of the patient while the youngsters are instructed to keep away from the patient to avoid emotional trauma or the possible physical harm they may beget. Moreover, the extended family like uncles, grandparents, and close friends can also be affected as they relay aegis to the patients family. Couples Therapy An individual with a spouse afflicted with BPD can adapt to the behavioral problems of his wife or her husband by understanding the nature of BPD. Along with drug medications, therapeutic counseling is widely used to save marital relations from the consequences of BPD behaviors. Both Lachkar and McCormack in 1998 and 2000 respectively, suggested the creation of â€Å"holding environment† for couples with one partner having BPD (Oliver, Perry, and Cade, 2008). In this approach, each partner, rather than withdrawing or projecting, is conditioned for the recognition of his or her subjective experiences. In particular, Lachkar proposed three fundamental functions: containment, empathy versus containment, and self-object (Oliver, Perry, and Cade, 2008). In containment, the counselor mirror and defuse the negative affects and projections in order to provide new means of images and experiences to the couple. On the other hand, the empathy or mirroring versus containment is necessary for the containment balance. The couple also needs to experience empathy and mirror-back their statements and behavior to them. Thus, the counselor must know how to employ either one or the other so as to facilitate the effective relationship functioning and the healing process of traumatic experiences. Lastly, the self-object functions are designed for the structural repair of the self. In 2003, Fruzzetti and Fruzzetti identified the five functions for a complete dialectical behavioral therapy (Oliver, Perry, and Cade, 2008). Skill acquisition or enhancement is the first function in which specific skills are taught to individuals in every session. Next in line is the skill generalization wherein the learned skills are applied to real life setting through planning and telephone advising. The client motivation or behavior change is the third function which requires the collaborative effort of the client and the counselor in identifying and changing the dysfunctional patterns. Then, the crucial skills and high level of motivation are the required functions in the development of enhancement and motivation capabilities of the counselor. Finally, the environment structuring is a required function to ensure the desired outcomes. Gottmans Approach In 1999, Gottman proposed the different levels for a sound relational house which include: marital friendship foundation which consists of admiration and fondness, cognitive space for ones spouse, and turning toward versus turning away; override of positive sentiment versus the override of negative sentiments; conflict regulation which involves dialogue establishment and physiological soothing; and the creation of shared system of meaning such as meshing narratives, dreams, metaphors, and rituals (Oliver, Perry, and Cade, 2008). Furthermore, Gottman argued that resistance can hardly be avoided in the therapy because it resulted from the disruptions in the various level components of a sound relational house of the relationships internal working model (Oliver, Perry, and Cade, 2008). Hence, BPD patients suffer from the distortions of internal working models with respect to relationships and the self. Gottman further believed that the resistance due to the psychopathology of the individual is brought by his or her stable steady state, characterized by high negativity, and by the disruptions in the individuals means of influencing and influence acceptance (Oliver, Perry, and Cade, 2008). Dialectic Behavioral Therapy In 1980s, at the University of Washington, Marsha Linehan developed the Dialectic Behavioral Therapy or DBT after the failure of the standard behavioral therapies she has employed in treating women with chronic suicidal attempts (Koerner and Linehan, 2000). The DBT is an intensive and multimodal approach in the treatment of BPD. This form of therapy incorporated the cognitive-behavioral techniques with the time-tested Western contemplative and Eastern meditative medication approaches. These approaches with opposing notions, acceptance, and change were all integrated by means of a dialectical framework which can serve as a guide in the formulation and implementation of medication strategies. Since then, DBT has been utilized in the treatment of parasuicidal behavior among BPD cases and in other psychotic disorders. On the basis of biosocial maintenance and etiology of BPD, the DBT was developed in order to provide a plausible explanation for the BPD attributes with consistency on behavioral theory and empirical research findings (Koerner and Linehan, 2000). As posited by the biosocial theory, the BPD development is triggered by a dysfunction in the emotion regulation system during childhood brought by the interaction of the emotionally susceptible child to the invalidating environment. The immediate individuals in the childs environment, either unknowingly or intentionally, invalidate the childs emotional experiences which in turn result to the elevation of the childs emotional responses which aggravate the environmental invalidating responses. Further, the biosocial theory argued that the child and the environment have biodirectional relationship; thus, both influence the continuous elevation and deescalation of the borderline behaviors. The DBT treats BPD behaviors as spontaneous products of dysregulated and maladaptive attempts of emotions regulations (Koerner and Linehan, 2000). This model illustrated the characteristics of both individual and environment wherein the latter inhibits the development of the capabilities and potentials of the former. As such, BPD patients have low distress tolerance, interpersonal, and self-regulation skills. Hence, for any treatment approach, the development and enhancement of skills, capabilities, and motivation of every patient must be given prime importance. On the other hand, the therapeutic relationship between the BPD patient and the therapist poses a dialectic tension in which they can find themselves at the opposite sites of a particular issue. The therapeutic process then attempts to synthesize these opposing views resulting to a new dialectical tension. For instance, the therapist may perceive that the suicidal tendency of the patient is the root cause of the problem while the patient may take this behavior as the solution. The possible synthesis of these positions may result to the notion that committing suicide is a maladaptive solution to the problem at hand. Then, this new position may necessitate the learning of new skills so as to smoothly adapt the patient into the present state of life. DBT Treatment Stages Since DBT is a multimodal approach, the treatment is categorized into several stages, each of which has its own goals (Koerner and Linehan, 2000). In Stage I, the behavior is out of control as the individual possesses debilitating and pervasive problems. The first stage aims to facilitate the achievement of action control and stability as well as the natural life expectancy by preventing suicidal behavior, the development of the capability of helping individuals in reducing severe impediments, and the achievement of necessary skills for such tasks. In the following stage, the individuals have attained reasonable action control. The Stage II then intends to gain understanding and at the same time to reduce the impact of early traumatic experiences, and to strengthen the individual’s endurance in emotional experiences in the absence of psychological trauma. In the third stage, the focus of treatment is on the resolution of residual problem behavior which hinders the attainment of personal goals. The BPD patient, with self-trust and respect, takes a pivotal role. Finally, Stage IV aims for the sustenance of personal freedom and goals. This last treatment stage facilitates the patient’s achievement of spiritual fulfillment, vast awareness, and connection to the universe. Empirical Findings The randomized controlled DBT trials proved its efficacy on BPD behaviors such as suicidal tendency, substance abuse, depression, binge eating, anxiety, and other personality disorders across various populations (Koerner and Linehan, 2000). In addition, a substantial number of nonrandomized controlled DBT trials have shown efficacy similar to the randomized controlled. Thus, in general, the results of DBT studies indicated its superiority against non-DBT controlled trials in the prevention and reduction of problem behaviors like substance abuse and suicidal behavior as well as treatment dropout and hospitalization, and the improvement of the general and social functioning of the BPD patients. References American Psychiatric Association. (2000). Diagnostic and Statistical Manual of Mental Disorders, 4th ed. Arlington, VA: APA. Daley, S. E. , Burge, D. , and Hammen, C. (2000). Borderline Personality Disorder Symptoms as Predictors of 4-Year Romantic Relationship Dysfunction in Young Women Addressing Issues of Specificity. Journal of Abnormal Psychology, 109 (3), 451-460. Koerner, K. and Linehan, M. M. (2000). Research on Dialectical Behavior Therapy for Borderline Personality Disorder. The Psychiatric Clinics of North America, 23 (1), 151–167.

Development of Corporate Governance in Nigeria

Development of Corporate Governance in Nigeria   Literature Review The code of corporate governance Over the years, Nigeria has experienced rapid development with regards to corporate governance. This can be noted in the 2003 Code of Corporate Governance (SEC Code), the 2006 mandatory Code of Corporate Governance for Nigerian Banks post consolidation (CBN Code) and most importantly the 2007 Code of Conduct for Shareholder Associations in Nigeria (SEC Code for shareholders). {(now revised in 2011) update the dates for the different codes}. According to Grienenberger (1995), corporate governance can be defined as The legal and practical system for the exercise of power and control in the conduct of the business of a corporation, including in particular the relationships amongst the shareholders, the management, the board of the directors and its committees, and other constituencies. The main issue with corporate governance is that it is often viewed as the separation between ownership (shareholders) and control (managers). Jensen and Meckling (1976) state that managers will only be as incentivized to add value to shareholders in proportion to what they stand to personally gain. Schacht (1995) then argues that corporate governance represents the friction that managers and owners of public companies face in the involvement of the productive level of shareholders in corporate policy and administration. Nigeria was a British colony therefore it adopted the corporate governance system of the British and its history of corporate governance stems from the colonial times when the private sector was dominated by British companies (Okike 2007, Ahunwan 2002). After she gained her independence in 1960, there was a great economic liberation and the government developed domestic ownership and control of the Nigerian private sector (Akpotaire 2005). The framework of corporate governance adopted was still that of the British. For instance, there was the replacement of the Companies Ordinance of 1992 by the 1968 (how can the 68 replace the 92) Companies Act but the biggest influence was the UK corporate law (Adegbite and Nakajima, 2010). It is not unimaginable that since the corporate governance of Nigeria mirrors that of the British so closely, the effectiveness would be somewhat guaranteed. Unfortunately this has not been the case. It could be easily explained by the fact that the corporate la ws and regulations in the UK are not complementary, reflective or applicable in the Nigerian business environment (Adegbite and Nakajima, 2010). Okike (2007) states that though the framework of the corporate governance in Nigeria mirrors that of the UK, the same cannot be said in terms of application or ingrained principles. Ultimately, it seems the legal or corporate governance codes governing corporations have not been developed with the peculiarities of Nigeria in mind. The issues that are specific to the cultural and political environments have also been ignored (Okike, 2007) and these are of utmost importance especially when considering the unstructured and informal nature of the Nigerian economy (Yahaya, 1998). In the years that follow, I believe this error was trying to be corrected by making codes to reflect Nigeria as a country and her corporate environment. According to Adegbite et. al (2012) The primary statute empowering shareholders in Nigeria to intervene in a companys affairs is the Company and Allied Matters Act (CAMA) 1990 (as amended). In addition to this as stated above was the 2003 Code of Corporate Governance (SEC Code). Adegbite et. al (2012) goes on to state that this code has as one of its core focuses to promote the rights and responsibilities of shareholders. It expressly states that the company or board should not discourage shareholder activism whether institutional or by organised shareholders groups. It further states that the annual general meetings (AGMs) should be an avenue for shareholder participation in the governance of the company. Furthermore, there should be a director who represents the interests of minority shareholders who occupies a seat on the board. Okike (2007) believes that these are all efforts of the Corporate Affairs Commission (CAC) and the Securities and Exchange Commission (SEC) to promote shareholder activism as well as the rights of minority shareholders in the Nigerian corporate governance code. As a result of all these developments, there have now been an emergence of many private initiatives which have been encouraged by the government such as The Independent Shareholders Association of Nigeria (ISAN), the Nigerian Shareholders Solidarity Association (NSSA), the Proactive Shareholders Association of Nigeria (PROSAN), the Association for the Advancement of the Rights of Nigerian Shareholders (AARNS) amongst other shareholder associations. These have developed mainly to give minority shareholders a chance in a sector that has been dominated by majority shareholders when it comes to block voting. The issue of Politics and its impact on Shareholder Activism In a recent study, Adegbite et. al (2012) state that an environment of unhealthy and vast politicking is created when shareholder activism is used as corporate governance mechanism in Nigeria. It is believed that this is as a result of the countrys brand of politics, in other words expressing that this is a challenge that is quite peculiar to Nigeria. It denotes that though shareholder activism is somewhat a universal practice, certain characteristics of different regions warrant an understanding before said practice can be carried out correctly. Most literature on shareholder activism is based on the Anglo-Saxon construction of markets as prior to independence from the British, the Anglo Saxon-based system of corporate law and regulations was in place in Nigeria (Adegbite and Nakajima, 2010). This is founded on the neo-liberal conception of democratic politics where there is freedom and rights within legitimate institutional boundaries. Also, under the same umbrella of this ideology is shareholder activism, as it is an essential characteristic to the financial markets (Adegbite et. al 2012). This has led to little thought being given to the effect that the post-independence stage of political democracy has on the way in which different things are practiced and in particular, shareholder activism. Given these points, lets look further into the democratic political state of Nigeria. Nigeria gained her independence on October 1, 1960. In the 56 years of her independence, she has been vastly ridiculed with the plague of corruption. This has been evident in the politics of the nation, the way business is conducted both local and international and the general way of life of her people. Unfortunately, we follow this through many years of various scandals such as Cadbury 2014 and infamously Shell 1990 to present. It would be almost obvious that this corruption tremendously affects the business environment and by extension, shareholder activism. This can be evidenced by looking at independent corruption indexes. In appendix 1, we see extracts from various reports from the Transparency International (2013) which is a non-governmental organisation. These reports show Nigeria ranking 136 out of 178 countries (178 being the most corrupt country) in the corruption index as well as having a score of 26 (100 being corrupt free). More importantly, in the index of corruption b y political parties, Nigeria scored 4.7 out of 5 (5 being extremely corrupt). This data is one that cannot be ignored in the analysis of the political environment of the country having a direct/indirect effect on shareholder activism. Adegbite et al. (2012) also compare the World Bank index which is based on six broad measures: (1) voice and accountability, (2) political stability, (3) government effectiveness, (4) regulatory quality, (5) rule of law and (6) control of corruption. Three countries are examined namely Nigeria, Denmark and the United Kingdom. The latter mentioned countries score very low on the corruption index in the Transparency International reports and so its no surprise that in the World Bank Anti-Corruption and Governance Index, the same results are observed with Nigeria scoring less than 28% in all 6 categories while Denmark and the United Kingdom score higher than 80% across the same categories. These results all highlight the same issue. It is the implications of the Corrupt and greed driven Nigerian politics and political culture on business conduct, corporate governance and shareholder activism in particular (Adegbite et. al 2012). In light of all of this, it would be unfair not to mention that there are steps taken to mitigate this issue of corruption especially in the attitude towards corporate governance. Only a few years ago, the Central Bank of Nigeria (CBN) dismissed the Chief Executive Officers and Executive Directors or eight Nigerian banks on charges of corruption, fraud and bad corporate governance (Adegbite and Nakajima, 2010). These steps are definitely in the right path to getting the country to where it needs to be but the fact still remains that this is a serious consideration when addressing corporate governance and shareholder activism in Nigeria. As this has been established, the different matters around shareholders associations and institutional shareholders have been discussed below. Institutional shareholders and Non-institutional shareholders (shareholder associations) The Nigerian Stock Exchange (NSE) has been in existence for about 46 years. It has over 260 listed securities including 10 Government Stock, 55 industrial loans (Debenture/Preferences) stocks and 195 equity/ordinary shares of companies with a total capitalisation of about 875.2 billion naira. Shareholding in Nigeria has grown rapidly to an estimated 10 million (Amao and Amaeshi, 2008). There have been a series of events such as the privatisation programme in Nigeria that has massively impacted the share ownership. In the early stages of the programme, the privatised companies offered over 1.3 billion shares for sale to the public. There was a huge influx of first time buyers as well others amounting to over 800,000 shareholders. Between 1989 and 2005, over forty government-owned companies were privatised (Tanko II, 2004). Small individual shareholders coming together to form shareholders associations and large individual shareholders are categories of Non-institutional shareholders. (Crespi Renneboog, 2010; Poulsen et al., 2010; Song Szewczyk, 2003; Uche, C., Adegbite, E. and John Jones, M. 2016). The way in which shareholder activism is carried out and achieved by small and large individual shareholders is mainly attributable to their shareholdings (Connelly, Tihanyi, Certo Hitt, 2010; Crespi Renneboog, 2010; Johnson, Schnatterly, Johnson, Chiu, 2010; Uche et al., 2016). Due to the amount of shareholdings that small individual shareholders possess, they are at a disadvantage in the matter of having influence over management. In order to combat this, small individual shareholders often combine voting rights with that of other shareholders thus increasing their influence when engaging in shareholder activism. By doing so, they bypass the need for large block holding. Coordination by small individu al shareholders is then achieved by using organizations such as shareholders associations. While this teamwork doesnt result in the influence of corporate strategy or board nominations, Strickland et al. (1996) states that it brings about certain advantages such as successful shareholder-initiated proposals documented in countries such as the United States of America. Shareholders associations are a registered group mainly consisting of small individual shareholders while Institutional shareholders is a term for entities which pool money to purchase securities, real property, and other investment assets or originate loans. Institutional shareholders include banks, insurance companies, pensions, hedge funds, REITs, investment advisors, endowments, and mutual funds. In this section, the relationship between these two will be analyzed as well as the effects their union or otherwise has on shareholder activism. According to Uche, Adegbite and John Jones (2016), prior literature has shown how beneficial collaborations between shareholders associations and institutional shareholders have been in shareholder activism. Examples of this is institutional shareholders using their proxy votes to support shareholder proposals. However, there has been little work done in this area regarding a developing country as well as the effect that activism carried out by shareholders associations has on institutional shareholders (Uche, Adegbite and John Jones, 2016). According to Mulgan (2000) and Uche et al., (2016) Accountability is considered to be an activity that requires the accountee to engage in questioning, assessing and criticizing when holding the accountor to account. It is believed to be a two way conversation between accountee and accountor. Uche et al., (2016) notes that the accountability relationship theory isnt discussed in a corporate environment by Mulgan (2000) but similar characteristics have been identified in the relationship between the board members and management. These characteristics were identified by Roberts et al., (2005) as questioning, probing, discussing, informing and encouraging. In addition, it is evident that shareholder activism share these same features. This is because Institutional shareholders and shareholders associations involve in discussion, probing and questioning management at AGMs and other private meetings (Uche et al., 2016; Roberts et al., 2006; Solomon and Darby, 2005). These conversations with shareholders associations and institutional shareholders also allow companies to gain insight into different issues on social, ethical and environmental issues which in turn aids in promoting corporate matters aime d at the public (Solomon and Darby, 2005; Amao and Amaeshi, 2008; Johed and Catasus, 2015). As mentioned in earlier sections, Nigeria is home to many shareholders associations. There are more than thirty organisations unlike other more developed countries such as the United Kingdom which usually has only one association engaging in shareholder activism (Amao Amaeshi, 2008; Adegbite, Amaeshi Amoa, 2012). Uche, Adegbite and John Jones (2016) importantly highlights the importance of the structure of shareholders associations in Nigeria. These associations are made up only of small individual shareholders. The reason this is important to note is because of the impact it has on strategies carried out by the organisations. It also indicates the amount of influence or lack thereof that these organisations may have on the management of companies and thus shareholder activism. In shareholder activism, the expectation is that the shareholders are able to exert a certain level of influence over management of a company which will allow them to facilitate change in strategic outcome or managerial decisions (Ryan and Schneider, 2002). This influence is much easier when there is an independence between the activists and management of the company involved. This can be seen in the analysis between institutional shareholders, shareholders association and management within the boundary of shareholder activism (Uche et al., 2016; Becht et al., 2008; Catasus and Johed 2007; Crespi and Renneboog, 2010; Ingley and Van der Walt, 2001; Johed and Catasus 2015). The independence noted in relationships between shareholders associations and managements of companies allow for the association to have an increased influence over management (Uche et al., 2016; Poulsen et al., 2010) A lack of independence is noted in easily pressured institutional shareholders. This causes these type of investors to rather guard the relationships formed with managements of the company involved for their own benefits .This type of behavior is usually noted in passive institutional shareholders than active institutional shareholders (Uche et al., 2016; Almazan, Hartzell and Starks, 2005; Brickley, Lease and Smith 1998; Marler and Faugere, 2010). Prior literature has shown that there is a difference in the way various institutional shareholders carry out shareholder activism. This allows them to benefit in different ways from the way others carry out their activist activities (Uche, Adegbite and John Jones, 2016). Active institutional shareholders will benefit from things such as coordinated voting with other institutional shareholders or shareholders associations while the same may not be the case for institutional shareholders that are passive. Passive institutional shareholders as the name suggests, have a more laissez-faire attitude towards shareholder activism. They prefer to avoid any direct activist activities while benefiting from that which active shareholder institutions and shareholders associations have fought for (Brav, Jiang, Partnoy, Thomas, 2008). These passive institutional shareholders in Nigeria are usually hedge funds or pension funds who focus on short term benefits and dont want to disrupt the business relationships built with these companies. It is argued that shareholders associations dont experience this same dynamic between them and management of any company in questions regarding shareholder activism (Uche et al., 2016; Stratling, 2012). However, according to Uche et al., 2016, Adegbite et al., 2010 and Yakasi, 2001, it has been reported that some shareholders associations in Nigeria develop relationships with management because of financial benefits obtained outside of the business relationship. This then leads to a lack of independence and hinders the shareholders associations from acting as accountees and holding the accountors (management of the company in question) to account. Prior research notes that different shareholder groups have different agendas that they pursue and though these may be similar in multiple cases, they can also differ. This is as a result of their interests and time horizons being different (Uche et al., 2016; Goranova Ryan, 2014; Ingley Van der Walt, 2001). Individual shareholders usually invest smaller stakes over a short period of time while institutional shareholders such as pension funds will invest massively over a long period of time. Fundamental differences such as these cause conflicts between the groups in shareholder activism. For instance, hedge funds prefer short term pay puts thus are more short term oriented (Uche et al., 2016). Ultimately, in Nigeria, institutional shareholders do not participate enough in shareholder activism especially in comparison to shareholders associations. As noted in earlier paragraphs, due to the small holdings of individual shareholders who make up shareholders association they are not able to practice shareholder activism as effectively as they should (Uche et al., 2016; Amao Amaeshi, 2008; Okike, 2007; Yakasai, 2001). Despite this, it has been noted that shareholders associations have been of great help in holding management of companies accountable by resisting the fraudulent sale of corporate sales and sacking of poorly performing corporate executives through shareholder activism (Uche et al., 2016; Aderinokun, 2003; Chigbo, 2000). The Nigerian Securities and Exchange Commission (SEC) code (both 2003 and the revised code in 2011) avidly encourage institutional shareholders and organised shareholders groups to actively engage in shareholder activism so as to improve practices (SEC Code, 2003; SEC Code 2011). While institutional shareholders are not there to usurp the role of monitoring agencies, they are in a better position to pressurise companies to take shareholder accountability and interest more seriously (Chung Talaulicar, 2010; Roberts et al., 2006). In the face of previous scandals and governance and accountability problems in Nigeria, institutional shareholders now have another opportunity to fight for improved governance practices so as to create better shareholder values (Ahunwan, 2002; Bakre, 2007; CBN, 2006). According to Yakasai (2011) and Ajogwu (2007), Institutional shareholders are in a better strategic position than small shareholders to engage with corporate managers. Their influence can bridge the gap of communication between shareholders and really have an impact on corporate governance practices. All of this highlights the importance of both institutional shareholders and shareholders associations to practice shareholder activism (together and independently) independent of management of companies so as to relinquish all forms of bias in order to improve the effectiveness of shareholder activism in Nigeria. RESEARCH METHODOLOGY Introduction This chapter illustrates the methodology used in this research to achieve my results. Research methodology is crucial to any research as it highlights the reasoning behind methods chosen to achieve the aims and objectives of this research (Kothari, 2004). The purpose of this paper is to clearly state what Shareholder Activism is and take a closer look into Sub-saharan Africa, more specifically Nigeria. It will also highlight three main areas that grossly affect the practice of shareholder activism in Nigeria as well as offer suggestions that could make the experience a much more efficient and effective one. To achieve this, this chapter has been divided into various sub sections namely, research philosophy, approach, strategy, time horizons, data collection and data analysis. Research Philosophy Research philosophy is an over-arching term relating to the development of knowledge and the nature of that knowledge. (Bandaranayake, 2012). According to Saunders, Lewis and Thornhill (2003), research philosophy is dominated by three main views namely Positivism, Interpretivism (Social Constructionism) and Realism. Positivism as described by Saunders, Lewis and Thornhill (2003), is a view that often adopts the philosophical science of the natural scientist. This research perspective is one of utmost objectivity, completely independent from the researcher and unaffected by the research or its results. Interpretivism/Social Constructionism views reality as based on human practices formed by human interactions with others and the world in which they live in, developed within a social context (Crotty, 1998). The intent of this approach is to understand the subjectivity of reality of the people being analyzed in order to deduce the background and reasoning of their motives in a way thats applicable to them. (Ramanathan, 2008). The key differences between Positivism and Interpretivism (Social Constructionism) are highlighted in the table below by (Ramanathan, 2008). Saunders, Lewis and Thornhill (2003) state that Realism is applied to the study of human subjects, recognizing the importance of understanding peoples socially constructed interpretation and meaning, or subjective reality, within the context of seeking to understand broader social forces, structures or processes that influence, and perhaps constrain, the nature of peoples views and behaviours. According to Saunders, Lewis and Thornhill (2003), it will be misleading to think of any research philosophy as better than the next. Ultimately, all three philosophies serve different purposes depending on the objective of the research. Nonetheless, business situations such as shareholder activism are complex and unique to different individuals circumstances and environment. Shareholder activism in Nigeria cannot be discussed without addressing the corporate governance environment of the country. According to Grienenberger (1995), Corporate governance can be defined as the legal and practical system for the exercise of power and control in the conduct of the businessof a corporation, including in particular the relationships amongst the shareholders, the management, the board of the directors and its committees, and other constituencies. This definition highlights two things that are very important. This is the fact that this is a legal and practical system. Every country has its own legal system that may derive its origin from many things such as the country which it was colonized by to the general way of life of the people. This in fact is the same for how business is conducted as well. Therefore, it is without doubt that an understanding of the countrys systems and the way in which things are done is essential for any well informed analysis to be made. This has therefore led me to choose interpretivism/social constructionism as my research philosophy as I believe that the characteristics of this philosophy such as aiming to increase the general understanding of the situation, gathering rich information from which ideas are induced and including stakeholder perspectives are all exactly the approaches I need to undertake in order to appropriately understand all the drivers involved in shaping shareholder activism in a developing country such as Nigeria. Research Approach When considering what research approach to use in research, there are two theories available. These are: Deduction (Testing theory) and Induction (Building theory). Deduction approach as the name implies involves the researcher having a proposed theory (usually involving two or more variables) which they then collect data against, analyse and draw conclusions in support of or opposing the original thesis (DeGracia et al., 2014). Induction approach on the other hand involves observing different cases or scenarios and then developing a general hypothesis around ones findings (DeGracia et al., 2014). This approach allows for a less rigid methodology and openness to varying explanations of what is going on (Saunders, Lewis and Thornhill, 2003). The table below shows the differences between Deduction and Induction approaches to Research by (Saunders, Lewis and Thornhill, 2003). Box 4.1 Major differences between deductive and inductive approaches to research Deduction emphasises Scientific principles Moving from theory to data The need to explain causal relationships between variables The collection of quantitative data The application of controls to ensure validity of data The operationalisation of concepts to ensure clarity of definition A highly structured approach Researcher independence of what is being researched The necessity to select samples of sufficient size in order to generalize conclusions Induction emphasises Gaining an understanding of the meanings humans attach to events A close understanding of the research context The collection of qualitative data A more flexible structure to permit changes of research emphasis as the research progresses A realisation that the research is part of the research process Less concern with the need to generalise The induction approach will be taken as this research looks into human behaviours and social construct within a certain environment. Furthermore, I will be making use of qualitative data alone to suit the approach adopted by Saunders, Lewis and Thornhill, (2003). This is because my research is looking into the problems associated with the lack of effectiveness of shareholder activism in Nigeria. This means that I am looking into the issues surrounding application, human behavior towards corporate governance and shareholder activism. Therefore, the induction approach as well as the use of qualitative data is the best way to get the different stakeholder perspectives and gather the right information within a less rigid structure that will enable the appropriate analysis to be conducted. 4.4 Research Strategy According to Saunders, Lewis and Thornhill, (2003), there are different research strategies namely: Experiment Survey Case study Grounded theory Ethnography Action research Cross-sectional and longitudinal studies Exploratory, descriptive and explanatory studies. For the purpose of this research, grounded theory will be used. This is because it is mainly used in the inductive approach and will allow for a more thorough insight into the issues associated with the objectives set in this research by using interviews (Corbin and Strauss, 1990). My source of data will be interviews and archival records as it allows me to capture insights into events associated with shareholder activism through the personal accounts of individuals experiences (Hendry et all., 2007; Useem et al., 1993). As this research paper is focused on Nigeria, I have limited access to data as I am currently in the United Kingdom. Therefore, I have conducted telephone interviews with seasoned individuals practicing shareholder activism because it was more cost and time efficient to do so. I believe using these will give me a well-rounded view of the issues that need to be identified. Time Horizons There are two types of time horizons focused on by Saunders, Lewis and Thornhill, (2003) namely Cross-sectional studies and longitudinal studies. Cross- sectional studies have to do with research on a particular hypothesis at a particular time, while longitudinal studies involve researching a certain phenomenon over an extended period of time. This research focuses on Shareholder Activism in Nigeria, over the years there has been very little written on this subject matter. My aim is to add to the body of knowledge which exists in current times. In this case, I will be applying cross-sectional studies and focusing on the periods from the early 2010 to present day 2016. Data Collection The main research method in this paper will be the interviews conducted with persons that are knowledgeable on the subject. As I am not very conversant with the subject matter, speaking with these people will aid in expanding my knowledge. It is quite expensive to travel to Nigeria from the United Kingdom therefore, telephone interviews will be conducted as it will save time and costs. I also plan on using archival records as I believe this will provide context to my research thus allowing me to form a well-rounded grounded theory. Data Analysis Various solid articles and books will be used to aid in my coding and analysis of the intervi

Reckitt Benckiser entering a new (Non-EU) market

Reckitt Benckiser entering a new (Non-EU) market The company manufactures household, personal and consumer healthcare products. Such as Dettol anti-septic, Veet, Strepsils, Airwick, Vanish etc. In 1823, Johann A. Benckiser founded Benckiser chemical industry. Later in 1940, the company was rented by Issac Reckitt. He also bought a starch mill in Hull and diversified into household products renowned for starch washing blue and black lead for shoe polishing. Since 1913 till 2009, RB has come across through diversification and joint venturing in Australia and USA. RBs mission and objectives. The mission of RB highlights both purpose and its value. Which include- To delivers better solutions in household, health and personal care to consumers. To do constant innovation. Deliver fast-acting solutions that help make life easier. The objectives of RB is to generate growth by expanding globally and produce powerful and durable brands. RBs marketing characteristics. Reckitt Benckisers marketing flair is for the consumer. Each product has its own portfolio. The key role for marketing in global is the priority to 19 branded products. RB is consistantly developing and delivering the innovated pipelines and maximising international brand equality. RBs three main strategic pillars of marketing are: innovation, brand equity and developing products for global use. RB has become NO.1 amongst the market competition in the UK. And is continuously backing up its core brands. RB is operating over 60 countries and sells its brand across worldwide. RBs brands are divided into 6 categories: surface care, e.g: Cillit Bang,Harpic,Woolite, Amphyl. fabric care, e.g: Vanish, Calgon. dishwashing, e.g: Finish, Electrasol, Fairy. home care, e.g: Lysol, Air Wick. health and personal care, e.g: Dettol, Clearasil, Veet, Scholl, Nurofen, Gaviscon, Strepsils, Bonjela, Aerogard, Mucinex, Mortein. food. e.g: Kit Kat, Red hot, Butter original. RBS Sale Performance. RB performed beyond its expectations even in the critical economic climate in 2009. In 2000,the companys net revenue doubled and quadrupled market capitalisation. The shareholders recieved approx. 200% against a market average of 22% over the past 5 years. RB is one of the league in terms of its production innovation. The company gained almost 40% of revenue through its innovations during the last 3 years. RB is consistently working on its margins and looking forward to manage its costs. And targets to turn an average sales growth of 7% into 17% profit over the next 5 years. RBs future success relies on the commercial drive, and ambition of its employees. RBs major competitors in the UK are Procter and Gamble (PG), which holds the revenue of $79bn for the year 2009. And Unilever, with revenue of $41bn in 2008. In 2008, despite pricing pressure and raw material price inflation, RB has balanced its revenue growth by reducing costs that helped in rise in its operating margins by 0.8% to 23.4%. The company re-invented its container for Vanish brand to use 70% less plastic than original big tub. Marketing goals objectives. To expand. To promote its powerful brands worldwide. To achieve global market leadership. Market Penetration and Market Expansion. Achieving High Gross Margins. New Product Development and Entrepreneurship. International Market planning. Market research is a vital to decision making process in marketing plan. The research include the best opportunities for investment in the market. The political, financial, cultural, legal and regulatory, competitors, consumers need to be taken into account that effects the business. Due to a lot of competition in UK and in order to gain maximum profit, RB has intentions to promote its 19 powerful brands to international market. Internal External analysis of RB. The internal analysis defines the key features of the company. The areas in consideration to analyze are: Resource capabilities, Configuration and coordination of activities, Company performance, Structure of company and characteristics of its culture. The figure describes; Stars as RBs products which have the high share in the growing market. When the market slows down, these products become the cash flows. And when the market shares are lost and it stops growing, they become Dogs. Cash cows are the products of high market share in low growing market. These products usually defend Reckitt Benckisers competitors. Dogs define the products of low market share in low growing market. These products are usually not profitable. Question Marks are the dilemma creating products. If market shares stays continues low, these products becomes Dogs. External Analysis: It normally relates to the opportunity and threats existing in environment. The areas to analyse that effects the company are: Customers, Competitors, Culture and company performance, Market size and growth, Environment in which the company operates. Political Factors. As every government have its own business policies in the country of origin. This factor follows the formal and informal regulations influencing the business. The political issues can rise in the form of trade restriction, employment, tariffs and political stability. Hence, Reckitt Benckisers business can be influenced by the fast growing consumer goods. Economical Factors. This relates to the nature of the economic system in the particular country. Capital market is the key factor to be considered. Social Factors. The environment relates to the value system of society determined by its nation. Social factors consist of the costs, customs, structures, heritage, wealth and income as well as the labour mobility. Therefore, the nature of goods to be produced depends upon the demand of the people. A code of conduct is needed to be followed in the business. Technological Factors. This is a major factor that influence on business. Technology determines the quality of goods to be produced. It can also affects in terms of investment Since there are many factors that effects the business both internally and externally, therefore, it is essential for a company to continue cope with the market challenges by innovating new brand and products. SWOT factors. Strength. The Strength of the branded products are; (e.g. of Clearasil, Strepsils, Kit Kat, Bonjela), Clearasil is good for all skin types, it is a unique face wash designed to combat bacteria. Strepsils is a best treatment to help prevent sore throat, this product is without any side effects. Kit Kat chocolate is famous amongst all, and usually targets to children. Bonjela is best to prevent mouth ulcers and comes in different flavours that attract all. Also there is one suitable for babys teething problems. Weakness. Sometimes these products are not perceived as an everyday use. Some people might not like taste or smell. Shape not user-friendly. Opportunity and threats. According to RBs competitive analysis, there is a wide range of opportunities which will help the new products capitalize a greater market share. The products ability to gain real consumer insight and to develop products and variants according to the consumers needs. These opportunities are focused by professionals of sales and marketing, research, development, supply chain and the experts of information services and human resources. The threat to RB is that the other main players in the antibacterial category have positioned their brands for everyday use against bacteria. Pricing and other competitive strategies have also been taken over by the development of information technology. The pricing strategy of the consumer goods manufacturing company can affect the supply and demand of products. Justification. Reckitt Benckiser is moving fast in a challenging working culture. The company has intentions to go global. RB is focusing on innovation in order to compete with the local market. As UK is recovering from economical crises, there is a good opportunity for Reckitt Benckiser to expand its business into an International Market to raise its profits. Marketing strategy. RBs Market Penetration tells about the existing markets and existing products. That means the company sells the existing products to its existing customers. Market development tells about the new market and existing products. That means RB markets its existing product range in a new market. Product development tells about the existing markets and new products. This means a new product to be marketed to RBs existing customers. Business Diversification tell about the new markets and new products. This is where RB market completely new products to new customers. RBs strategy is to obtain a highly focused portfolio concentrating on its 19 most profitable brands. The marketing stragety of RB is; Competition: RB is consistently focusing to deliver the fast growth in the sector. Expansion: This is RBs consistent and highly successful strategy. The company focuses on markets with its growth potential. For example, by investing in the relatively new Automatic Dishwashing category rather than in the congested Laundry Detergent category. Instead of investing in generic households products the company also focuses in the fast growth demand of skincare. Market analysis in general. In generally, the market analysis for the chain of RBs products is: Location which include all Suburban, urban, small, big and developing countries. Demographics. All male, female, children, old aged from birth to lifetime. All people who care for their well being and household. Market entry strategy. There are various strategies to enter into a new market. For example; by growing trading blocks, Counter trading, Piggy backing and Barter. Counter trading: In this method, a person agrees to buy goods on a commitment that the seller also buys his products in return of time, finance or balance of compensation of products. Barter: In this method direct exchange of goods is occurred for another. Piggy backing: In this method, the organisation with less exporting skill uses the services of the skilled exporter. For example: The fertilizer manufacturers of Zimbabwe could piggyback with the South Africa who both import potassium from outside their countries. Methods for new market entry (based on mission and philosophy of the company). The methods to enter into a new market are as followed; Partnership/ Joint Venture, In joint venture two or more investors share ownership and control over a firm operations. The advantages of Joint ventures are; Foreign partner has the vast knowledge about the market in his country. Joint financial strength is established between the partners. They also have disadvantages: Partners may not sometime negotiate. The recovery of capital can become impossible. To license, Licensing is the method of foreign operation where a firm in one country agrees to permit a company in another country to use the manufacturing and processing provided by the licensor. For example: United Bottlers in Zimbabwe have the licence to make Coke. The licensing cost is signing the agreement and policing the implementation. The disadvantages are: There is a limited form of participation e.g. in length of agreement or specific product manufacturing. Direct/Indirect investment. Direct investment includes- Government, distributors and agents. The advantage of direct investment is that it is the direct means of entry. And also it is the source of supply for the third country. The disadvantages are that the partners may lack the management skills. Also there could be different views of opinions amongst the partners. Indirect investment includes- Counter trade, export management or a trading company. By indirect investment, the investor is not directly associated with the profit and loss of the firm on which the money is usually spent. Brief profile of chosen market. Peru: Peru is known as a private sector market based driven economy, in which government expenditure including consumption and transfer payments are low. The market oriented reforms and privatizations are carried out during 1990s and in 2001 the country has promoted trade and investment. Since 1993, the foreign investors have been allowed for investment in all economic sectors. Finance, supportive government regulation and market opportunities are available in Peru. Alternative entry method. The alternative method to enter into foreign market is by expansion of product line or geographically. More the product line or the geographic area is expanded the greater is the managerial complexity. But usually this process requires high margins of investment. And can become risky due to lack of knowledge of the new market. Another way is of exporting. Exporting manufacturing goods is less risky and gives opportunity to get to know about the foreign markets. Also reduces the potential risks of operations. The disadvantage is mainly that buyers in the desired foreign country are usually very careful as they perceive transport, currency, quality and quantity problems. Exporting and Why I have chosen this entry method? I have chosen export method because it is relatively low of cost to enter international market. The organization can also build economies of scale and expand its profits. Implementation on carrying out the project. The project is implemented by considering 4Ps, 1.Product. Selling chain of 19 branded products of Reckitt Benckiser. Consisting household, health and personal care and food. Product mix. The 5 products that are ideal for product mix for consumer needs are: Clearasil, Dettol, Fairy, Gaviscon and Mortein. Product Life Cycle. The products to be export are the rapidly growing consumer products. Therefore their average life cycle is 30 days to 2 years. 2. Positioning. Reckit Benckiser has intentions to position against its competitor. In relation to product attribute. The primary positioning of the products for example Clearasil is that it is the no.1 antibacterial face wash suitable for family. It has the ingredients that its competitors do not have. 3. Pricing. The products are priced at premium to its competitors. There will be discount and allowances for the employees. The shipping cost is also to be considered. 4. Promotion / Distribution. The company should sell the products to the appointed distributors and sub distributors who are responsible for further to deal with the wholesalers or retailers in the chosen country. But it is also known that RB has a facility of intensive distribution methods for products all over the geographical area. The company provides direct delivery to key accounts i.e. USC, METRO AND MAKRO. Each channel has a coverage to supermarkets, general stores etc even in the rural areas. Marketing budget of the company. The current marketing budget of RB allocated to the brand selling is 20% of total net revenue. Gantt Chart. GANTT CHART BY AMAL KHAN. EXPORTING RECKITT BENCKISER PRODUCTS IN PERU. Task Date Date Date Date Date Date Date 15/10/2010 17/10/2010 18/10/2010 21/10/2010 27/10/2010 16/11/2010 17/11/2010 Planning Market- Research. Manufact- uring prod- ucts. Finding establish- ing links in foreign. Negotiation. Packaging. Distribution Transp- ortation.

Persian Gulf War Essay -- essays research papers

The Persian Gulf War all started because of one country’s greed for oil. Iraq accused Kuwait of pumping oil and not sharing the benfits, and Kuwait was pumping more oil than allowed under quotas set by the Organization of Petroleum Exporting Countries, it decreased the price of oil, Iraq's main export. Iraq's complaints against Kuwait grew more and more harsh, but they were mostly about money. When Iraqi forces began to assemble near the Kuwaiti border in the summer of 1990, several Arab states tried to intervene the dispute. Kuwait didn’t want to look weak so they didn’t ask for any help from the United States or other non-Arab powers for support. Arab mediators convinced Iraq and Kuwait to negotiate their differences in Saudi Arabia, on August 1, 1990, but that meeting resulted only in charges and countercharges. A second meeting was planned to take place in Baghdad, the Iraqi capital, but Iraq invaded Kuwait the next day, leading some people to think that Ira qi president Saddam Hussein had planned the invasion all along.   Ã‚  Ã‚  Ã‚  Ã‚  The Iraqi attack began shortly after midnight on August 2. About 150,000 Iraqi troops, many of them veterans of the Iran-Iraq War, easily overwhelmed the unprepared and inexperienced Kuwaiti forces, which numbered about 20,000. By dawn Iraq had assumed control of Kuwait City, the capital, and was soon in complete control of the country. The United Nation Security Council and the Arab League immediately condemned the Iraqi invasion. Four days later, the Security Council forced an economic restriction on Iraq that forbidden nearly all trades with Iraq. Any armed attempt to roll back the Iraqi invasion depended on Saudi Arabia, which shares a border with Iraq and Kuwait. Saudi Arabia didn’t have the power to fight Iraq alone .So Saudi rulers did eventually open the country to foreign forces, in mainly because they were worried by Iraq's aggressive negotiations also U.S. intelligence reports claimed that Iraqi forces were well positioned for a strike against Sa udi Arabia. Beginning a week after the Iraqi take over of Kuwait and continuing for several months, a large international force called the â€Å"international coalition† gathered in Saudi Arabia. The United States sent more than 400,000 troops, and more than 200,000 additional troops came from Saudi Arabia, the United Kingdom, France, Kuwait, Egypt, Syria, Sene... ...ps. The UN continued to maintain most of the economic restriction on Iraq after the war, and several coalition countries enforced other sanctions. The sanctions allowed Iraq to sell limited amounts of oil for food and medicine if it also designated some of the revenue to pay for damages caused by the war. Until December 1996, Iraq rejected this deal as an violation on its power. Hussein also complicated matters by mobilizing forces on the Kuwaiti border in late 1994 and by interfering with the work of UN inspectors. This interference almost led to new military conflict in 1998, but a UN binding agreement allowing the inspectors to resume work averted the immediate crisis. Reports that Iraq was continuing to block inspections prompted the United States and Britain to launch a four-day series of air strikes on Iraqi military and industrial targets in December. In response, Iraq stated that it would no longer comply with UN inspection teams, called for an end to the sanctions, and t hreatened to fire on aircraft patrolling the no-fly zones. Through early 1999, Iraq continued to challenge the patrols, and British and U.S. planes struck Iraqi missile launch sites and other targets.

Entrepreuer :: GCSE Business Marketing Coursework

Entrepreuer Entrepreneur, one who assumes the responsibility and the risk for a business operation with the expectation of making a profit, the entrepreneur generally decides on the product, acquires the facilities, and brings together the labor force, capital, and production materials. If the business succeeds, the entrepreneur reaps the reward of profits; if it fails, he or she takes the loss. Entrepreneurial leadership is vital to an individual and to a corporation?s success. Entrepreneurial firms are a major source of innovation and change. They create jobs, new tax revenues, and other transfers of money. At a time when U.S. productivity growth is lagging behind other countries, and when our large corporations are laying off workers and focusing on core businesses, entrepreneurial firms assume a more significant role; They do what large companies are not doing The process itself consists of the set of activities necessary to identify an opportunity, develop a business concept, and then manag e and harvest the venture. As a process, it has applicability to organizations of all sizes and types. The entrepreneurship construct has three underlying dimensions: innovativeness, or the development of novel or unique products, services or processes; risk-taking, or willingness to pursue opportunities having a reasonable chance of costly failure; and proactive ness, or an emphasis on persistence and creativity in overcoming obstacles until the innovative concept is fully implemented. In 1953 the US government created an independent agency called the Small Business Administration. Its functions are to make loans to small businesses unable to obtain financing from private sources on reasonable terms, to help small firms sell