Overview Of The Indian Commodity Market Finance Essay - Free Essay Example

Sample details Pages: 12 Words: 3703 Downloads: 9 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? In India market for futures are from a very long time back , it was there in early 1800s. After Independence, the Forward Contracts (Regulation) Act, 1952 (FCRA, 1952) was passed to promote and regulate this market with Forward Markets Commission (FMC) being set up in 1953 in Mumbai as the regulator. Commodity derivatives were banned in the late 60s, but were revived again in the 80s.After the successful equity market reforms of the 90s, the Government of India tried to replicate similar reforms for the commodity derivatives markets and in 1999 suggested that the Minimum Support Price (MSP)as a price-hedging instrument could be replaced with derivatives markets. Don’t waste time! Our writers will create an original "Overview Of The Indian Commodity Market Finance Essay" essay for you Create order National-level multi-commodity exchanges were permitted to be set up on conditions of being backed by internationally prevailing best practices of trading, clearing and settlement. The national commodity exchanges follow electronic, transparent trading and clearing with novation, similar to the equity market [See Box 2]. At present, 105 commodities have been approved for trading out of which 95 commodities are actively traded. The development of the commodity derivatives market in India like many other countries has been hindered by policy reversals on concerns regarding its effect on prices and supplies of essential commodities. This apart, integration of spot and futures market is cited as a critical factor for further growth of commodity futures in India. According to Nair (2004), the major stumbling block for the development of commodity futures markets in India is the fragmented physical/spot market with government laws and various taxes that hinder the free movement of commodit ies critique draws attention to the prevalence of bilateral deals in local exchanges, the lack of price transparency both in the (fragmented) futures and spot markets for many commodities and the absence of certified warehouses. At present 22 Exchanges are recognised/registered for forward/futures trading in commodities. Most of the commodity exchanges in India are single commodity platforms and cater mainly to the regional requirements. However, three national-level multi-commodity exchanges have been set up in the country to overcome the problem of fragmentation. These exchanges are: 1. National Multi Commodity Exchange of India (NMCE) 2. Multi Commodity Exchange of India (MCX) 3. National Commodity Derivatives Exchange of India (NCDEX) NMCE (National Multi Commodity Exchange of India) It is the first state of the demutualized multi-commodity Exchange, National Multi Commodity Exchange of India Ltd. (NMCE) was promoted by commodity-relevant public institutions, viz., Central Warehousing Corporation (CWC), National Agricultural Cooperative Marketing Federation of India (NAFED), Gujarat Agro-Industries Corporation Limited (GAICL), Gujarat State Agricultural Marketing Board (GSAMB), National Institute of Agricultural Marketing (NIAM), and Neptune Overseas Limited (NOL). While various integral aspects of commodity economy, viz., warehousing, cooperatives, private and public sector marketing of agricultural commodities, research and training were adequately addressed in structuring the Exchange, finance was still a vital missing link. Punjab National Bank (PNB) took equity of the Exchange to establish that linkage. Even today, NMCE is the only Exchange in India to have such investment and technical support from the comm odity relevant institutions. These institutions are represented on the Board of Directors of the Exchange and also on various committees set up by the Exchange to ensure good corporate governance.. NMCE commenced futures trading in 24 commodities on 26th November, 2002 on a national scale and the basket of commodities has grown substantially since then to include cash crops, food grains, plantations, spices, oil seeds, metals bullion among others.. MCX( Multi Commodity Exchange of India ) :- Headquartered in Mumbai, Multi Commodity Exchange of India Ltd (MCX) is a state-of-the-art electronic commodity futures exchange. The demutualised Exchange has permanent recognition from the Government of India to facilitate online trading, and clearing and settlement operations for commodity futures across the country. Having started operations in November 2003, today, MCX holds a market share of over 85%* (as on March 31, 2012 MCX had a market share of 86%) of the Indian commodity futures market. The Exchange has more than 2,170 registered members operating through over 3,46,000 including CTCL trading terminals spread over 1,577 cities and towns across India. MCX was the third largest commodity futures exchange in the world, in terms of the number of contracts traded in CY2011 4.2 PURPOSE OF THE STUDY In India, as derivatives only futures trading in commodities is allowed. These trading are delineated into agriculture and non agriculture commodities. There has to be a systematic approach to reap benefits from commodity futures. These markets are driven by news, rumors, data release aspects and many more .These all things sometimes results in market volatility so assessing the risk mitigation possibility through use of futures is necessary and also the use of other derivative instruments like options. These complicated aspects make the research desk inevitable in brokerage firm. Hence the study is useful to understand the future market trends , analyze the hedging effectiveness of commodity futures and the need of options in commodity market. 4.3 SIGNIFICANCE OF THE STUDY To get to know the hedging effectiveness of the futures as it is many times talked that the futures increases speculative trading rather than hedging tool and to find out wheather price discovery mechanism is there and how efficient is it in hedging price risk, It also covers the need of commodity option in the market and its use as an hedging tool. 4.4 LIMITATION OF STUDY The study is limited to Kolkata and Bangalore brokerage houses only. Limited number of respondents i.e.50 as it was not easy to get data from the corporate. Time constraint was a major limitation. Not covered the industrialist and farmers who trade in commodity market to hedge the production risk.. 5.1 INTRODUCTION This part of the research paper shows the detailed analysis and related interpretation of the collected data in a detailed manner . This analysis and interpretation is based on the research methodology mentioned in Chapter 3 and the micro analysis of the Indian commodity market .In this Chapter initially the analysis of the respondents is done and then it moves on to analyse the the primary data and further to conclude a secondary research is also done from the data sources as earlier mentioned in Chapter 3. 5.2 RESPONDENTS PROFILE The number of respondents taken in for this research is 50. Basically the respondents are those people who trade in commodity market. Majority of respondents are from Kolkata and Bangalore, respondents are from all the age groups . Out of 50 , 20% of respondents are professional people like Chartered Accountants, Company Secretary, and MBA who trade in commodity and other financial instruments and rest are the people who trade in commodity market, respondents also includes the people orking in for brokerage houses who deals in commodity. 5.3 ANALYSIS OF DATA The analysis is done on both primary data and Secondary Data. Exchange in which respondents trade. Chart 5.1: Preference for Commodity Exchange Source: Primary Data 60% of the respondents prefer MCX as the commodity exchange for their investment, whereas NCDEX is preferred by 29% of the sample, and rest of the respondents prefer options other than MCX and NCDEX. Preference for the type of Commodity among Investors. Chart 5.2 : Type of Commodity trade Source: Primary Data Bullion, Metals, Agricultural Products are the most preferred commodity types by 49%, 18%, and 33% of the respondents respectively. Opinion about Indian Market Commodity market volatility. Chart 5.3 : Opinion about Indian commodity market volatility 48% of the respondents are of the opinion that Commodity Market in India is highly volatile, and 43% percentage of respondents feel that the volatility of the Indian Commodity Market is moderate, whereas it is thought to be low volatile by 9% of the respondents. Level of participation in commodity market. Chart 5.4: Level of participation in commodity market Most of the respondents are very active at trading in Commodity Market, whereas 31 % of the respondents are found to be less active in the Commodity Market. 5.3.4 Relationship between Mitigation of risk and level of participation by an investor Table 5.1 :- Cross tabulation of level of investement participation and mitigation of risk. How_Active * Mittigation of risk Crosstabulation Count Mittigation of risk Total Least Priority Less Priority Neutral High Priority Highest Priority How_Active Very Active 1 1 0 4 10 16 Moderate 1 4 8 3 5 21 Less Active 2 2 7 2 1 14 Total 4 7 15 9 16 51 Chart 5.5: Cross tabulation of level of investment participation and mitigation of risk Interpretation: Cross tabulation analysis shows that activeness of a trader in a market have a important role in taking up mitigation of risk. Active trader gives highest priority to Mitigation of risk on the other hand moderate and less active traders are not motivated towards risk mitigation. 5.3.5 Cross tabulation Relationship between investors level of participation and Pure investment Purpose Table 5.2 : Cross tabulation relationship between investement level of participation and investement purpose How_Active * Pure_Investement_Purpose Crosstabulation Count Pure_Investement_Purpose Total Least Priority Less Priority Neutral High Priority Highest Priority How_Active Very Active 3 3 6 3 1 16 Moderate 3 5 5 5 3 21 Less Active 1 2 1 3 7 14 Total 7 10 12 11 11 51 Chart 5.6: Cross tabulation relationship between investement level of participation and investement purpose Interpretation :- Through this cross tabulation we get to know that investors who are less active they make investement in futures with pure investement purpose . On the other hand very active and moderate investors are more neutral towards pure investement purpose. Factor analysis : Factors taken into account are Risk mitigation, Parking of excess cash , Pure investement purpose and To offset price volatility. Table 5.3 : Factor analysis of Risk mitigation, Parking of excess cash , Pure investement purpose KMO and Bartletts Test Kaiser-Meyer-Olkin Measure of Sampling Adequacy. .615 Bartletts Test of Sphericity Approx. Chi-Square 14.924 Df 6 Sig. .41 Interpretation :-Kaiser Meyer Olkin Values range between 0 and 1. A value near to 1 indicates a high correlation and suggests that the data is reliable whereas a value near 0 indicates that correlation is less than partial correlation. KMO value should be greater than 0.5, otherwise we need to collect more data or some of the factors should be eliminated. There are Four categories of value on the basis of KMO value. (0.5-0.7 is mediocre, 0.7-0.8 is good, 0.8-0.9 is great, greater than 0.9 is superb) In this case, the KMO value is .615, so the data falls in the category of mediocre. It means that the data are fair enough to carry on the factor analysis. Further, there should be some relationship between the variables, if we need to carry out Factor analysis. So the significance value should be less than 0.5. In this case the sig value is 0.04 which shows that the data are related to each other, so we can carry out Factor Analysis Communalities Initial Extraction Mittigation of risk 1.000 .432 Pure_Investement_Purpose 1.000 .687 Parking_Excess_Cash 1.000 .774 To_offset price volatility 1.000 .710 Extraction Method: Principal Component Analysis. In this case we assume that the initial variance is common, so the communalities initially are 1.But in the extraction column, the variance has changed for every factor. For Example, variance of .710 signifies that variable 1 is 71% common to variance of other factor Component Matrixa Component 1 2 Mittigation of risk .187 .630 Pure_Investement_Purpose .818 .135 Parking_Excess_Cash -.863 .170 To_offset price volatility .098 -.837 Extraction Method: Principal Component Analysis. a. 2 components extracted. Testing of Hypothesis 5.4.1 Regression Analysis On the primary data collected for determining the impact of various independent variables like Easy money, Speculators , Demand ,Supply, Expiry date on dependent variable i.e. price. Table 5.4 : Regression analysis of independent variables like Easy money, Speculators Demand ,Supply, Expiry date on dependent variable i.e. price. Variables Entered/Removed Model Variables Entered Variables Removed Method 1 Easy Money, Speculators, Demand, Supply, Expiry_Datea . Enter a. All requested variables entered. Model Summary Model R R Square Adjusted R Square Std. Error of the Estimate 1 .761a .679 .531 .74737 a. Predictors: (Constant), Easy_Money, Speculators, Demand, Supply, Expiry_Date ANOVAb Model Sum of Squares df Mean Square F Sig. 1 Regression 33.743 5 6.749 12.082 .000a Residual 24.577 44 .559 Total 58.320 49 a. Predictors: (Constant), Easy_Money, Speculators, Demand, Supply, Expiry_Date b. Dependent Variable: Price Coefficientsa Model Unstandardized Coefficients Standardized Coefficients t Sig. B Std. Error Beta 1 (Constant) -.980 .791 -1.238 .222 Demand .511 .122 .436 4.202 .000 Speculators .487 .100 .496 4.872 .000 Supply .037 .150 .027 .248 .805 Expiry_Date .146 .151 .107 .966 .339 Easy_Money .170 .123 .151 1.380 .175 a. Dependent Variable: Price Interpretation : The second table of interest is the Model Summary table. This table provides the R and R2 value. The R2 value is 0.679, which represents the simple correlation and, therefore, indicates a degree of correlation. The R2 value indicates how much of the dependent variable, Price of the commodity , can be explained by the independent variables, Demand , speculator , Supply, Easy money , Expiry date . In this case, 67.9% is the effect which is fair enough. 3. The next table is the ANOVA table. This table indicates that the regression model predicts the outcome variable significantly well. In the Regression row go to the Sig. column. This indicates the statistical significance of the regression model that was applied. Here, P 0.000 which is less than 0.05 and indicates that, overall, the model applied is significantly good enough in predicting the outcome variable. 4. The next table is Coefficients which provides us with information on each predictor variable. This provides us with the information necessary to predict Price from , Demand , speculator , Supply, Easy money , Expiry date . It is seen that Demand and Speculators contribute significantly to the model (by looking at the Sig. column). 5. By looking at the B column under the Unstandardized Coefficients column we can present the regression equation as: Price = -.980 + 0.511(Demand) + .487 (Speculators) 5.4.2 Regression Analysis An analysis of investors perception about Indian commodity market and there participation in the market as independent variable. And its impact on risk mitigation strategy as a dependent Table 5.5 : Regression analysis on factors determining mitigation of risk Interpretation :- The second table Model Summary table. This table provides the R and R2 value. The R2 value is 0.669, which represents the simple correlation and, therefore, indicates a degree of correlation. The R2 value indicates how much of the dependent variable, Price of the commodity , can be explained by the independent variables, How active an investor is there in the commodity market and opinion about volatility in the commodity market. In this case, 67.9% is the effect which is fair enough. 3. The next table is the ANOVA table. This table indicates that the regression model predicts the outcome variable significantly well. In the Regression row go to the Sig. column. This indicates the statistical significance of the regression model that was applied. Here, P 0.000 which is less than 0.05 and indicates that, overall, the model applied is significantly good enough in predicting the outcome variable. 4. The next table is Coefficients which provides us with information on each predictor variable. This provides us with the information necessary to predict Price from ,How Active an investor participate and his opinion of Indian commodity market . It is seen that contribute significantly to the model (by looking at the Sig. column). 5. By looking at the B column under the Unstandardized Coefficients column we can present the regression equation as: Price = 6.128 + 0.767(How Active) + .548 (Volatility) 5.4.4 About price discovery mechanism in future market Chart 5.6 : Future market price discovery process Interpretation :- As the Price discovery mechanism is concerned 28% of the respondents say that it depends on the future and spot relationship, 25% says its reflected first on spot, 23% on futures, 24% says market is efficient. So with this conclusion we can say that it is not very clear which way the price is discovered. 5.4.5 Factor Analysis :- Of the factors which can help in determining wheather price discovery mechanism exist in the commodity market factors taken into consideration are efficient market, price reflects first on the spot market, information first reflects first on the futures market and their exist a relationship between futures and spot prices KMO and Bartletts Test Kaiser-Meyer-Olkin Measure of Sampling Adequacy. .557 Bartletts Test of Sphericity Approx. Chi-Square 19.164 df 6 Sig. .004 Interpretation :-Kaiser Meyer Olkin Values range between 0 and 1. A value near to 1 indicates a high correlation and suggests that the data is reliable whereas a value near 0 indicates that correlation is less than partial correlation. KMO value should be greater than 0.5, otherwise we need to collect more data or some of the factors should be eliminated. There are Four categories of value on the basis of KMO value. (0.5-0.7 is mediocre, 0.7-0.8 is good, 0.8-0.9 is great, greater than 0.9 is superb) In this case, the KMO value is .557, so the data falls in the category of mediocre. It means that the data are fair enough to carry on the factor analysis. Further, there should be some relationship between the variables, if we need to carry out Factor analysis. So the significance value should be less than 0.5. In this case the sig value is 0.04 which shows that the data are related to each other, so we can carry out Factor Analysis Correlation Matrix Efficient Futures_Market Spot_Market Closely_Related Sig. (1-tailed) Efficient .003 .147 .014 Futures_Market .003 .009 .218 Spot_Market .147 .009 .074 Closely_Related .014 .218 .074 5.4.6 Cross Tabulation To check the need of commodity options and to find out particularly in which commodity the financial instrument ids much needed. Importance * Agriculture Products Crosstabulation Count Agriculture Products Total No Yes Importance Very Important 9 14 23 Not Important 9 2 11 Indifferent 3 8 11 Total 21 24 45 Importance * Bullion Cross tabulation Count Bullion Total No Yes Importance Very Important 17 6 23 Not Important 3 8 11 Indifferent 6 5 11 Total 26 19 45 Importance * Metals Cross tabulation Count Metals Total No Yes Importance Very Important 20 3 23 Not Important 10 1 11 Indifferent 10 1 11 Total 40 5 45 Importance * Fossil/Energy Crosstabulation Count Fossil/Energy Total No Yes Importance Very Important 21 2 23 Not Important 9 2 11 Indifferent 11 0 11 Total 41 4 45 Interpretation :- This cross tabulation analysis is done to determine the need of commodity options in the market and also to know in which commodity product option is needed. So as per the data collected it shows that the commodity option is needed in the market it is much need derivative tool in the agriculture commodity. 5.4.7 Purpose for which commodity option can be used in the market Chart 5.6 : Purpose for which commodity option can be used in the market Interpretation :- As the chart shows that the investment in commodity option will be more for making profit through movement in the price and also it will be used as a risk mitigation tool. 5.4.8 Research based on Secondary Research Comdex index futures and spot Correlation :- This analysis is done in order to check the movement of futures and spot . As per the analysis correlation shows negative correlation .31. Which denotes movement in price of one effect the other inversely. Conclusion :- This shows that the movement in the price of one effect the other so there exist a price discovery mechanism between these two prices. 6.1 FINDINGS From the research we got to know that on the basis of an individual participation level in the commodity futures market determines his needs for investment. It is found that an active investor invest in futures market to mitigate the risk so it can be considered that the futures are being considered as a hedging tool. On the other hand non active investors in the commodity futures main motive is either making a pure investment or offsetting the price volatility in the market. Factors like mitigation of risk, parking of excess cash, offsetting price volatility and pure investment are the main reasons for trading in commodity futures. It is found that the factors like Supply , Demand , Speculators , Easy Money , Expiry date all have a direct effect on the price of the commodity and there exist a correlation among them. It is also found that there exist a relationship between individual perception of commodity market and there investment decision. As per the research done it is found that investor who view commodity market as volatile and are also active in market they in commodity futures for risk mitigation i.e. they consider futures as a hedging tool. On other hand who feels commodity market is not that volatile it is moderate on less volatile and they are too active in market there investment purpose is more as pure investment or offsetting price volatility. It is found that factors which help in price discovery mechanism like market efficiency, reflection of market information first on the spot market, effect of market information first on the futures market and that spot market and futures market are interrelated and helps in determining. As per the secondary research done on the datas collected of 3 index traded fund on MCX of India both their daily spot and future prices of past one year daily historic price it shows a coo relation, which means that they are closely interrelated so it can be said that market information are reflected on both the prices so futures can be said to discover price because of co orelation. As the research area also analyse the need of commodity option in the market it comes out with a finding that commodity option is much needed item especially in the agri commodity sector 6.2 CONCLUSION :- To conclude presently the Indian commodity market is getting very popular the volume of trade has increased so this has resulted in increasing the efficiency level of the market . But as India being a agriculture driven country and agri market mainly depends on the monsoon which is very uncertain so hedging against the price risk through commodity futures can be good idea and it has proved effective too in past and in other commodity too like energy, bullion, metals commodity futures can be a effective tool. Apart from futures in order to encourage commodity market commodity option too is about to be introduced in the market and as per the research investors are really looking forward for it and that too especially it will be great help in the agricultural sector. 6.3 SUGGESTION Commodity market is a good place too invest in it can help in mitigation of risk like price in risk in todays inflation effected scenario. Commodity market can help in securing a certain price level through the use of futures. Through the use of relation between futures and spot price discovery can be done so this can be used for arbitraging and speculating future trends in prices. With introduction of commodity option possibility in near future investement in commodity market will be emcouraged as it will provide a better hedge mechanism . So it can be said that it is worthwhile making an investement in commodity market now in order to hedge against the price risk, inflation risk and production risk . 6.4 SUGGESTION FOR FURTHER STUDY As my research is limited to areas like Kolkata and Bangalore soa further research can be conducted covering major cities. Sample size can be increased for getting a more clesr result . Respondents can include farmers and industrialist who trade in commodity market to hedge against their production and price risk More variables can be added which affect the commodity futures.

Helping Teens Avoid Bulimia And Anorexia - 1028 Words

Alexis WIlley Mrs.Gallos English 3 05 April 2017 How to Help Teens Avoid Bulimia and Anorexia Even though some teens have health conditions that make them very skinny or problems going on at home does not mean they have to hurt themselves. Teens need to avoid bulimia nervosa and anorexia nervosa. Some teens do not have self confidence in themselves. Many teens have died or get other medical conditions for becoming bulimic or anorexic. Bulimia nervosa is a life threatening eating disorder. Bulimia nervosa is where an individual binge eats and then immediately purges after they eat. How do they do this, they usually eat more than what they usually do in one sitting. They say that teens usually,† eat until the point of physical†¦show more content†¦( Graph ) Anorexics have many problems that they face, like depression, feeling left out, not fitting in, anxiety, and etc. The problem is that they do not like to talk about it and doctors try to get them to come out of there shell a little. When they see the doctor they always do a,† self evaluation†( Overview) because they want to examine the body and see how bad it has gotten. If they see them early, enough then they will not have as many medical conditions to worry about, but if they wait a long time,then there is a possibility that it is too late and there organs have already began to shut down. So it is very important that they have someone with them when they go through treatment because a lot can happen and they need the support from family or friends that care. Bulimia is very hard to diagnose because teenagers just do not come out and say that there bulimic. Also was families because , denial is common in family members because they do not want to believe that their child has a disorder† ( Bulimia and Teenagers). Bulimics usually get diagnosed with more than one problem because there body is destroyed on the inside. 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End Justifies the Means free essay sample

First, lets try to understand the sense in which the word justifies is used in the familiar statement that the end justifies the means. After that we can consider the problem you raise about whether it is all right to employ any means good or bad so long as the end is good. When we say that something is justified, we are simply saying that it is right. Thus, for example, when we say that a college is justified in expelling a student who falls below a passing mark, we are acknowledging that the college has a right to set certain standards of performance and to require its students to meet them. Hence, the college is right in expelling the student who doesnt. In most societies, killing a human being is seen as a bad thing to do. But what do you do when a country declares war against you? The end in this case is the end of the war. We will write a custom essay sample on End Justifies the Means or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page If you do nothing and stick to your moral grounds, you will be destroyed, but the war will be over. If you take up arms to defend yourself, you are violating your moral code for the sake of stopping the war.. An enterprise can succeed only if it has a goal. To achieve that goal an effective method should be adopted. The method can be harmless with no violence in it. Or it can be hard and cruel which calls for a lot of violence. In both cases the goal is the same. Only the method of achieving it is different. The proverb, a very disputable one, means that if the goal is good the methods adopted for achieving it do not matter. It can be good or bad. The Florentine statesman, Machiavelli, in his book THE PRINCE advocated this doctrine. According to him, it is justifiable to go to any extent for achieving a good cause. It may be necessary to use violence sometimes. It will be harmful to some people. But all that can be justified if the goal is good. Some great Indian leaders and thinkers like Gandhi have opposed this doctrine. According to them it is not only necessary that goal should be good but the means adopted for achieving it should also be good. In some countries governments  resort  to anything for suppressing riots. When peaceful requests and talk fail to bring about the desired result, they use sheer force to suppress such riots. They argue that it is for the common good of the ublic. Whatever be the truth, the doctrine ‘the end justifies the means’ happens to be a very controversial one which provokes much thinking and dispute. This phrase, originating from Niccolo Machiavellis book The Prince, is interpreted by some to mean doing anything whatsoever that is required to get the result you want, regardless of the methods used. It does not matter whether these methods are legal or illegal, fair or foul, kind or cruel, truth or lies, democratic or dictatorial, good or evil. Some agree that the statement is correct; however, others don’t see it that way. . When a man reaches worthy means with unworthy methods, how does that feel within a human soul? Because people have a Conscience, whenever they like it or not, people have to feel for others when they do something bad.. Another view, the benefits from something outweigh the process attained. For example if somebody cured cancer, but he/she had to kill one cancer patient to find the cure. They would say that the fact that they cured cancer made the loss of one life to save many worth it. The other way would mean something like the process makes the outcome worth it, which doesnt make much sense. On the other hand, if the end is worth the cost, then it is fine to eliminate the undesirables. However, the problems arise when judging if it is worth it, and if the undesirable might be of potential value later. For example, assassinating undesirables that are murderers is justified in that it saves future lives.

SWOT Analysis Al Capones

Introduction Al-Capone’s restaurant came into existence in 1927 under the initiative of Gladys Meyers. The restaurant is located along the shores of Fox River and operates in a big and spacious house. In the course of its operation, Al Capone’s mission is to achieve sustainable growth by providing its customers with an untouchable dining experience (Al Capone’s, 2012).Advertising We will write a custom essay sample on SWOT Analysis: Al Capone’s specifically for you for only $16.05 $11/page Learn More The firm’s operations are guided by one major objective, which entails offering its customers great and diverse wines, spirits, micro-brews, and foods. Al Capone’s focuses at maintaining the real taste of food and alcohol beverages that it offered during the 1920’s. In addition to positioning itself as a unique drinking point, Al Capone’s also focuses at offering its customers unique entertainment. One of the ways through which the firm attains this goal is by entering into contracts with renowned music bands such as Dixieland stars and saxophonists such as Johnny Waters, Franz Jackson, and Glenn Koch. These elements are some of the main areas that have contributed towards the firm’s survival (Al Capone’s, 2012). SWOT analysis Strengths Strong brand – Branding is one of the avenues through which organizations can derive their competitive advantage. According to Healey (2008), branding entails a continuous commitment to deliver product meaning and promise to customers. The restaurant has managed to maintain the quality of products it offered during the 1920s. As a result, it has developed a strong identity within the society in which it operates. People travel for long miles in order to enjoy the tasty spirits, great food, and lively entertainment within the restaurant (Al-Capone’s, 2012). Customers who patronize the hotel experience the roaring characte ristic of the hotel that persisted during the 1920s and 30s. This element has played a critical role in enhancing a strong attachment with the society. Consequently, the firm has been in a position to nurture a strong level of customer loyalty. According to Healey (2008), customer loyalty is a key ingredient in the survival and success of firms considering the high rate at which the business environment is transforming. Product diversification- Since its inception, Al Capone’s has been able to diversify its product offering. The firm has achieved this by adopting a multiproduct strategy. The strategy enables firms to become more diversified hence improving their performance. Effective integration of multiproduct strategy is realizable by integrating the concept of focusing. Consequently, firms’ management teams have to focus on the most profitable product to integrate in their product offering (McDaniel, Hair, Lamb, 2008).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Al Capone’s has integrated multiproduct strategy by incorporating a variety of foods, wines, spirits, microbrews, cigars, and steaks. The quality of products offered by the firm has significantly contributed towards the development of strong brand recognition. One of the ways through which the firm has attained this element is by positioning itself optimally as a unique steakhouse. The firm offers sizeable meat steaks compared to other steakhouses in Chicago, which greatly appeals customers. Its product diversification strategy has consistently enabled Al Capone’s achieve effectiveness in satisfying customers’ needs (Al Capone’s, 2012). Effective pricing strategy– Organizations can derive their competitive advantage from effective costing. One of the ways through which firms can achieve this aspect is by producing at a lower cost compared to competitors , which provides firms with an opportunity to set the price of their products competitively (Andreasen Kotler, 2003). Al Capone’s is cognizant of the fact that consumers are price conscious. Consequently, the firm has incorporated a pricing strategy that takes into account the consumers’ purchasing power. One of the ways through which the firm has attained this goal is by integrating a special menu popularly known as â€Å"recession proof†. The special menus are available on Fridays and Sundays. The menus constitute unique foods. Unique location- The restaurant is uniquely located along the Fox River. Its location provides customers with an opportunity to explore the wilderness for to access the restaurant, customers travel through the wilderness, past gambling dens, and hoodlum haunts, which contribute to a high level of customer satisfaction. Strong human capital– Firms can derive a high competitive advantage by offering effective and efficient custome r service. One of the ways through which they can achieve this aspect is by training their employees on how to offer quality and optimal services. In the course of its operation, Al Capone’s has managed to develop strong brand recognition by ensuring that customers get excellent services. Upon patronizing the hotel, customers are welcomed by hostesses dressed like flapper. Additionally, serving is splendid laced with customer friendliness, which enables customers to derive a unique experience (Al Capone’s, 2012).Advertising We will write a custom essay sample on SWOT Analysis: Al Capone’s specifically for you for only $16.05 $11/page Learn More Weaknesses Poor accessibility  Ã¢â‚¬â€œ Sales revenue of restaurants is greatly dependent on the size of traffic. Consequently, it is paramount for hotels and restaurants’ management teams to ensure that customers can easily access their premises. One of the ways through which this g oal is attainable is by ensuring that the restaurants are strategically located (Garvey, Dismore Dismore, 2011). Accessing the restaurant is not easy especially for new comers for the restaurant is located in rugged terrain surrounded by hills and forests. The roads leading to the restaurant are poorly lit. Additionally, the address to the restaurant is hard to find. The signs directing customers to the restaurant are fixed on trees along the road. In most cases, consumers prefer travelling to guesthouses and restaurants that are conveniently located. When selecting their drinking and dining choices, time is one of the major considerations that consumers take into account (Garvey, Dismore Dismore, 2011). The restaurant does not have a parking lot. Customers are forced to park their cars along the river and trek to the restaurant. This aspect presents a major security threat to customers and their property, hence a major weakness of the Al Capone’s Lack of market leadershipà ¢â‚¬â€œ The firm has not optimally positioned itself in the restaurant industry. Despite the firm being in operation for a long duration, the firm has not managed to position itself as a market leader, which limits the firm’s ability to deal with changes occurring in the restaurant industry (Boone Kurtz, 2011). Low rate of product innovation– The firm has not implemented an effective research and development strategy. This aspect has limited the firm’s ability to improve its products and service offering. The firm continues to operate in its traditional format, which might limit its ability to adjust to changes in consumer tastes and preferences. Low scale of operation- The firm operates in only one location. Despite the firm being in operation for almost a century, it has not incorporated the concept of market expansion. This aspect has greatly limited its ability to tap the prevailing market opportunities. Its operation in only one location has reduced the fi rm’s ability to attain the benefits associated with economies of scale. Opportunities Innovation  Ã¢â‚¬â€œ Al Capone can increase its profitability by undertaking continuous product and service improvement. Over the years, the firm has positioned itself as a renowned entity with regard to the provision of tasty wines, great foods, and lively music. The firm’s management should focus on how to add value to its product and service offering. This move will allow the restaurant to gain more customers and thus raise its sales revenue.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More One of the strategies that the firm should consider in its quest to be innovative is by adding new flavors (Bilton, 2007). Product innovation will significantly enable the firm to deal with alterations in consumer purchasing behaviors. The firm can also engage in new product development. The technological revolution especially with regard to information technology presents Al Capone’s with a timely chance to grow by exploiting the opportunities that come with the revolution. This assertion arises from the fact that Al Capone’s can use emerging technologies to create market awareness in its marketing practices. Social media is one of the technologies that the firm should focus on. In addition, it should improve its marketing practices by integrating different social networking forums such as Facebook, Twitter, Google plus, and blogs (Chaffey, et al., 2003). New distribution channels – Al Capone’s can enhance its profitability by establishing new outlets in the US. Currently, the firm operates in only one outlet, which limits a large number of customers from accessing its products. In the process of establishing new outlets, it should identify the most optimal location where the outlets will be situated. It is also important for the firm to focus on maximizing its profitability by venturing in emerging markets. Change in consumer lifestyle  Ã¢â‚¬â€œ Currently, consumers are increasing becoming more adventurous, which presents a great opportunity for the firm to increase its profit. Its unique location and the opportunity for customers to experience the wilderness in accessing the hotel present a convenient opportunity to win a large number of customers. Additionally, the increase in degree of health-consciousness amongst consumers in their consumption pattern presents an opportunity for the firm. Al Capone’s should exploit the change in customer lifestyle by ensuring that it offers healthy food products. Currently, the societ y is undergoing significant social transformation. One of the transformations is associated with growth of domestic tourism. Increase in consumer disposable income  Ã¢â‚¬â€œ The US has experienced a stable economic growth over the past decade. Despite the adverse effects of the 2008 economic recession, the numerous economic stimulus packages implemented by the US government have significantly contributed to economic restoration. Consequently, there is a high probability of consumers experiencing an increment in their disposable income. This aspect will translate into an improvement in their purchasing power. The increment in consumers’ purchasing power might translate into a shift in their purchasing behavior; for example, they may refocus on consuming in luxurious hotels. Threats Change in consumer tastes and preferences – The firm’s profitability may be affected by alterations in consumer tastes and preferences. For example, the high rate at which consumers are becoming health conscious may affect the firm. Findings of previous studies conducted associate eating red meat with increased risk of predisposing people to cancer and heart diseases. This realization has made most consumers to become very conscious of their eating patterns (Bakalar, 2012). This emerging evidence is a threat to the survival of the firm considering the fact that steak constitutes one of its main dishes. Economic recession – The firm faces a major threat emanating from changes in the external business environment. One of these threats relates to occurrence of an economic recession. Recession may adversely affect the firm through a reduction in the firm’s sales revenue. The recent economic recession made most American consumers to focus on purchasing necessities rather than luxuries. In the event of the recession recurring, the firm’s profitability may be affected adversely. Increased competition  Ã¢â‚¬â€œ The US restaurant industry is under going significant transformation due to increased competition. Some of the major industry players include Kentucky Fried Chicken, Darden Restaurants, Outback Steakhouse, and Taco Bell. More firms are venturing into the hotel industry in an effort to exploit the emerging opportunities. Al Capone’s does not have control over the activities within the industry. For example, the US restaurant industry is experiencing an increment in the number of steakhouses being established (First Research, 2012). As a result, there is a high probability of the firm experiencing a decline in its profitability. Legal reforms  Ã¢â‚¬â€œ During the 1920s and 1930s, the restaurant experienced a major threat emanating from the imposition of the prohibition era. The prohibition era was imposed through enactment of the Lever Food and Fuel Control Act. The legislation aimed at reducing the â€Å"evils† associated with alcohol. The US government imposed legislation that prohibited importation, s ale, and transportation of alcoholic beverages. The legislation had adverse effects on the survival of the firm because customers count not patronize and enjoy at the hotel freely. The threat posed by legal reforms persists even today. In 2009, the US government proposed to increase alcohol tax. The objective of the tax is to assist in funding the country’s national healthcare reforms. The enactment of the proposal would result in the tax levied on a 750 ml bottle of alcohol increase from $ 0.21 to $ 0.70. This change will translate into an increment in the price of alcoholic drinks, which will affect Al Capone’s sales revenue adversely. Conclusion and recommendations Al Capone’s has managed to develop a number of internal strengths, which have enhanced its survival. Its ability to offer quality products and adoption of product diversification has enhanced its ability to satisfy its customers. Additionally, the restaurant’s unique location and its effecti veness in maintaining the quality of products and service offering have contributed towards the development of a strong customer loyalty. Its effective pricing has enabled the firm to be consistent in attracting and retaining customers. Despite these aspects, the firm experiences a number of weaknesses such as low rate of product innovation, failure to develop market leadership, and poor accessibility. The firm faces a number of opportunities and threats from the external environment, and thus to survive into the future, it is important for the firm to consider the following. The firm should allocate more resources to continued research and development in the quest to remain relevant in the ever-changing market place. This move will effectively improve the firm’s ability to satisfy its customers. Its innovativeness should also incorporate devising strategies on how to improve its distribution channel. The firm should incessantly carry out market studies in order to monitor a nd adapt to the prevailing market trends coupled with creating contingency plan to face the future confidently. The market research should focus on customers and competitors. Reference List Al Capone’s. (2012). History of Al Capone’s hideaway steakhouse. Web. Andreasen, A., Kotler, P. (2003).Strategic marketing for nonprofits organisations. London, UK: Prentice Hall. Bakalar, N. (2012). Risks: More red meat, more mortality. Retrieved from https://www.nytimes.com/2012/03/13/health/research/red-meat-linked-to-cancer-and-heart-disease.html?_r=0 Bilton, C. (2007). Management and creativity: From creative industries to creative  management. Malden, MA: Blackwell Publishers. Boone, P., Kurtz. D. (2011). Boone and Kurtz contemporary marketing. Mason, MA: Cengage Learning. Chaffey, D., Mayer, R., Johnston, K., Ellis-Chadwick, F. (2003). Internet marketing,  strategy, implementation and practice. London, UK: Prentice Hall. First Research. (2012). Restaurant industry pr ofile. Retrieved from http://www.firstresearch.com/Industry-Research/Restaurants.html Garvey, M., Dismore, H., Dismore, A. (2011). Running a restaurant for dummies.  Hoboken, NJ: Wiley. Healey, M. (2008). What is branding? (Essential Design Handbooks). Switzerland: RotoVision. McDaniel, C., Hair, J., Lamb, C. (2008). Essentials of marketing. New York, NY: Cengage Learning. This essay on SWOT Analysis: Al Capone’s was written and submitted by user Scott Rhodes to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Meaning of the Term Black Church and Its Importance

Meaning of the Term Black Church and Its Importance The â€Å"black church† is a term used to describe Protestant churches that have predominately black congregations. More broadly, the black church is both a specific religious culture and a socio-religious force that has shaped protest movements, such as the Civil Rights Movement of the 1950s and 1960s. Origins of the Black Church The black church in the United States can be traced back to chattel slavery in the 18th and 19th centuries. Enslaved Africans brought to the Americas a variety of religions, including traditional spiritual practices. But the system of slavery was built on the dehumanization and exploitation of enslaved people, and this could only be achieved by depriving slaves of meaningful connections to land, ancestry, and identity. The dominant white culture of the time accomplished this through a system of forced acculturation, which included forced religious conversion. Missionaries would also use promises of freedom to convert enslaved Africans. Many enslaved people were told they could return to Africa as missionaries themselves if they converted. While it was easier for polytheistic beliefs to merge with Catholicism, which ruled in areas such as the Spanish colonies, than the Protestant Christian denominations that dominated early America, enslaved populations constantly read their own narratives into Christian texts and incorporated elements of their previous faiths into Christian frameworks. Out of this cultural and religious acculturation, early versions of the black church were born. Exodus, The Curse of Ham  and Black Theodicy Black pastors and their congregations maintained their autonomy and identify by reading their own histories into Christian texts, unlocking new routes for self-realization. For example, many black churches identified with the Book of Exodus’s story of the prophet Moses leading the Israelites escape from slavery in Egypt. The story of Moses and his people spoke to hope, promise and the benevolence of a God which was otherwise absent in the systematic and oppressive structure of chattel slavery. White Christians worked to justify slavery through the employment of a white savior complex, which  in addition to dehumanizing black people, infantilized them. They insisted that slavery was good for black people, because black people were inherently uncivilized. Some went so far as to claim that black people had been cursed and slavery was the necessary, God-intended punishment. Seeking to maintain their own religious authority and identity, black scholars developed their own branch of theology. Black theodicy refers specifically to theology that answers for the reality of anti-blackness and the suffering of our ancestors. This is done in a number of ways, but primarily by re-examining suffering, the concept of free-will, and God’s omnibenevolence. Specifically, they examined the following question: If there is nothing that God does that is not good in and of itself, why would he inflict such immense pain and suffering on black people? Questions like this one presented by black theodicy led to the development of another type of theology, which was still rooted in accounting for the suffering of black people. It is perhaps the most popular branch of black theology, even if its name is not always well known: Black Liberation Theology. Black Liberation Theology and Civil Rights Black Liberation Theology strove to incorporate Christian thought into the black community’s legacy as a â€Å"protest people.† By recognizing the social power of the church, along with the safety it offered within its four walls, the black community was able to explicitly bring God into the daily liberation struggle. This was famously done within the Civil Rights Movement. Although Martin Luther King Jr. is most often associated with the black church in the context of civil rights, there were many organizations and leaders during that time who leveraged the church’s political power. And although King and other early civil rights leaders are now famous for their nonviolent, religiously-rooted tactics, not every member of the church embraced nonviolent resistance. On July 10, 1964, a group of Black men led by Earnest â€Å"Chilly Willy† Thomas and Frederick Douglas Kirkpatrick founded The Deacons For Defense and Justice in Jonesboro, Louisiana. The purpose of their organization? To protect members of the Congress For Racial Equity (CORE) against violence from the Ku Klux Klan. The Deacons became one of the first visible self-defense forces in the South. Although self defense was not new, the Deacons were one of the first groups to embrace it as part of their mission. The power of Black Liberation Theology within the black church did not go unnoticed. The church itself came to serve as a place of strategy, development  and reprieve. It has also been a target of attacks by numerous hate groups, such as the Ku Klux Klan. The history of the Black church is long and not over. Today, the church continues to redefine itself to meet the demands of new generations; there are those within its ranks who work to remove factors of social conservatism and align it with new movements. No matter what position it takes in the future, it cannot be denied that the black church has been a pivotal force within Black American communities for hundreds of years and those generational memories are not likely to fade.

Black Beauty Essays - Employment, Job, Occupations, Free Essays

Black Beauty Essays - Employment, Job, Occupations, Free Essays Black Beauty Persuasive essay Would you like to get a high paying job? Then you need to go to school. Without an education you cant get a get good job. An education is what you need. An education is a great accomplishment. A higher education can get you a higher paying Job. Without money you cant get things, and Without education you would be working at McDonalds or something, if you had a education you could be something better, now if You want to be a lawyer you need a degree. Thats why an education important. Getting an education is what the smart thing to do is. Dont get me wrong though its hard to get an education. I think the main reason why people drop out is because they probably get bored and cant take it going to school. The way I see it is you place in your head that when you get out of collage your going to get a great high paying job. I guarantee that if you get an education you will get a high paying job. Now dont you want a high paying job?

W3 Asig Selection Criteria and Data Warehouses Essay

W3 Asig Selection Criteria and Data Warehouses - Essay Example When there is a need to add, modify, delete or display data, the application system simply makes a "call" to the RDBMS† (RDBMS Functionality, n.d., p. 1). As the administrator of a data warehouse for a hotel chain with leading presence in 10 western states in the United States, the criteria to be used to select the RDBMS for the head organization’s data warehouse are as follows: load balancing, parallel processing options, query governor, query optimizer, query management, load utility, metadata management, scalability, extensibility, portability, Query tool Application Program Interfaces (APIs), and administration (Ponniah, 2010). The tools for the data warehouse are aptly illustrated in the figure below: These criteria are relevant in terms of ensuring that all pertinent information could be accessible and available to authorized users and stakeholders at actual time frames. For instance, higher management would require pertinent data particular to the actual number of customers of the hotel over the 10 different states as of a particular date, then, the RDBMS would enable integration of inputs from local sites to be generated as a comprehensive data at the head office. Another example would be determining the total number of hotel rooms that could accommodate a corporate outing or seminar at an identified state and date. As such, the RDBMS could locate which among the 10 hotels could provide the needs of the clientele, as requested. Likewise, Ponniah (2010) also revealed that it is relevant to select the server hardware. In addition, the paralleling options were emphasized to be designed according to the need to perform interquery and intraquery parallelization (Ponniah, 2010). In addition, software tools that are to be installed in the data warehouse must be compatible and consistent among the hotels within the 10 states to enable decision makers to view and use needed information in the most accurate manner. Finally, one should be able to select