Business Essays Entrepreneurs Business Knowledge

trade Essays Entrepreneurs ancestry acquaintanceEntrepreneurs Business KnowledgeLiterature ReviewSeveral studies pick appear sh testify that enterpriserial groom believes be genius of the main contri scarceors of natural firms (Storey 1994). An increasing result of people in the UK argon bolt downing or argon considering starting up their own crease. These individuals atomic number 18 leafy veget up to(p)ly know as entrepreneurs. The word entrepreneur was of cut origin which evolved into averageings much(prenominal) as people who take essays, and founders of transacti anes (Hennessy 1980).They chip in evolved from simple(a) merchants to to a greater extent sophisticated corporate men. Entrepreneurs sess in any case be delimitate as people who organise and manage a traffic undertaking, assumptive the risk for the sake of profit (yourdictionary.com 2008), however at that place is much more(prenominal)(prenominal) to entrepreneurship than a simple defin ition.There argon varied symbols of entrepreneurs who possess true traits that sour them in(predicate) in stemma. Research carried out by Kortschak (2008) discusses cardinal traits that successful entrepreneurs subaltern and modal(a)-sized companies sh beMaking strategical decisions ground on limited data good entrepreneurs scarper to profess decisions found on 80% of the data they find to hand, as they recognise that waiting to learn more could mean a missed opportunity. instruction from shifts this trait is much seen in serial entrepreneurs who discombobulate experienced 1 or more commerce failures, which they often learn more from that mistake than the success. Understanding their own weaknesses the best entrepreneurs understand their atomic number 18a of expertise, strengths, and weaknesses. Even though they meet a general understanding of otherwise disciplines they realise they insufficiency knowledge in other aras for example, technical. In this ca se the successful entrepreneur would hire experts who bum complement their skills.Spot patterns and key data Kortschak (2008) identifies that the rough-cut surround in which an entrepreneur enters is dynamic where the bodily structure of the industry, the nature of the guest base, or they overall way of doing art has non yet been determined. favored entrepreneurs who run their companies are generally confident in building structure where none is in place in augmentition to identifying patterns they are subject to separate relevant in earnation from irrelevant data. Partnering success profusey with others success in employment is mainly about partnership. It is important for an entrepreneur to communicate salutary with others to exert with fel dispirited partners in agreeing product line organisation decisions and to communicate sanitary(p) with their team in accomplishing stemma objectives. Poor communication and being unable to act as with others results in an unsuccessful line of work. It has been said m each cartridge clips that in that location is an entrepreneur behind e very(prenominal) successful channel. This tail be due to a number of reasons except the one that galore(postnominal) lam to overlook is individualisedities. ace of the reasons for roughly successes is that the entrepreneur with the effective temper and attitude was right for that grumpy byplay, for example, Bill Gates was seen as The Visionary for his innovative ideas, and Anita Roddick, founder of ashes Shop was seen as The Improver as she desireed to improve the environment using natural ingredients in her products and ridding harsh chemicals and animal testing of cosmetics.Zahorsky (2008) identifies that there are nine personality types of entrepreneursThe Improver with this personality type the entrepreneur is more foc employ on using their company as a means to improve the world / environment. They have an susceptibility to run their wrinkle with high integrity and ethics. Example of an entrepreneur, Anita Roddick, founder of The Body Shop.The Advisor this crinkle personality types provides a high level of fiscal aid and advice to customers. The motto with this personality type is the customer is right and everything must be done to enrapture them. This personality types build their companies to construct customer focused. Example of an entrepreneur, John Nordstrom, offend of Nordstrom. The Superstar with this personality type the cable line is regulationly centred round the personal appeal and high energy of the superstar CEO and more than often the business is built around the entrepreneurs own personal brand. Example of an entrepreneur, Donald saddle horn, CEO of Trump Hotels and Casino Resorts.The Artist with this personality type the entrepreneur entrust tend to build their business around the unique talents and creativities they posses for other businesses demanding creativity much(prenominal) as web design. Example of entrepreneur, Scott Adams, creator of Dilbert.The Visionary an entrepreneur with the prophesier personality type will close to liable(predicate) be based on the future vision and thoughts of the founder. This personality type will have a high degree of curiosity to understand the world around you and set up plans to avoid the paradoxs. Example of entrepreneur, Bill Gates, Founder of Microsoft Inc. The analyst this personality type is often the basis for science, engineering, or computing firms that are well known for problem solving. The entrepreneur possessing this personality type will run their business as an analyst and always focus on fixing problems in a logical way. Example of entrepreneur, Gordon Moore, Intel Founder.The Fireball the entrepreneur with this personality type will be full of life, energy, and optimism. Their company would birth customers get the firm has a get it done attitude in a fun way. Example of entrepreneur, Malcolm Forbe s, Publisher, Forbes Magazine.The Hero the business run by the hero personality type would have an incredible will and exponent to lead their company through any challenge and can patch great companies. Example of entrepreneur, Jack Welch, CEO GE.The Healer the healer personality provides nurturing and harmony to their business and an ability to survive with an inner calm. Example of entrepreneur, Ben Cohen, Co-Founder of Ben Jerrys Ice Cream. An entrepreneurs business personality types and traits are whatsoever of the key success particularors that blend with the needs of the business. With this combination businesses excel further.The media gives a great count of attention to those who start their businesses with nonhing and turning it into bad successful organisation. An increasing number of entrepreneurs are young individuals with fresh ideas and an strenuous attitude. However an entrepreneurs age, educational background, and previous business-related experience is non as n earliest as important as his or her propensity to learn and willingness to bounce back from the obstacles associated with creating a unsanded business feat (a trait that successful entrepreneurs share).A typical entrepreneur starts their business by using their savings, re-mortgaging their house, or borrowing from friends or family at a low or interest free rate which can be dependable when starting out. Eventually the business starts to grow or the finance sources start to dry up, either way the business is in need of financial support, which is specify as detonator to implement a project it is usually used to mean money lent, or candour provided (mos.gov 2008).When little(a) businesses have rattling become successful and have a track record and then menace keen firms and banks will consider financial backing the business. Venture with child(p)ists are defined as professionally managed organisational presentors (Harrison and mason 1992). Even though banks are a popular and major source of finance for new and maturation businesses, they have become less willing to lend money to new judges (Mason and Harrison 1995, business paragon book).Research from Oates (1992) suggests that major retail banks are discerning to financing new ventures after the losses in the early 1900s. antecedent to this banks had been willing provide high levels of specie to finance start-up and stretch outing businesses, this was during the macro-economic boom of the middle 1980s (Murray 1994 business ideal book). However the recession interest this ontogenesis led to a considerable append in the number of small businesses failing.The bank of Englands quarterly bulletin in February 1994 reported that throughout the recession (1992 1993) business failures had risen to 55,000 a year. This compared to a more normal rate in the 1980s had more than doubled, and the vast majority of these failures were in the small business sector. Thus the effect of this was a substantial add-on in bad debts suffered by banks. The strain of these bad debts and their negative impacts on profits led to banks being reluctant to finance businesses that have upright started out.Smith (1994 business nonsuch book) suggests that many banks prefer to use short overdraft finance rather than ache-term, fixed-rate financial packages. This is because shorter-term packages are non as negative when the business experiences financial difficulties, however banks will give for new businesses that have an highly strong and promising proposal. This has led banks to avoid financing small / medium sized firms, thus leaving a gap in the mart for financing smaller businesses.The venture capital industry in the UK is very well developed but does not adequately cater for young businesses. Murray (1994, business angel book) views the venture capital industry as not being a major source of finance for entrepreneurial ventures. One of the reasons wherefore around ventu re capitalists avoid small business locatements is because they are not pleased with administrative tasks that come with these come outments, e supernumeraryly when the worryly croak is not substantial and does not compensate the issue forth of work required for young entrepreneurial ventures.According to Smith (1994 business angel book) venture capital firms focus more a great deal on management buyouts and the development of established existing businesses, rather than new ventures. Due to this stance of venture capitalists it has led them away from the small / medium sized firms, which also has resulted in a gap for new entrepreneurial ventures. The dodge ? below highlights some of the main differences betwixt business angels and venture capitalists.Table ? Business apotheosiss vc Venture CapitalistsSource www.1000ventures.comAs it can be seen from hedge there are many differences between business angels and venture capitalists. The table highlights an imperative point discussed earlier of business angels spend at the start-up / early stage of a small business whereas venture capitalists empower at a later stage of medium to large organisations. The table also bespeaks that business angels are more active and hands on in their aimments (active angels) whereas the venture capitalists are more strategic.The gap between family/friends and banks is often referred to as an justness gap. Financial Times interviewed jibe Jones (an extremely successful entrepreneur and investor) who quotes that there is a patronage gap out there for entrepreneurs starting out and that finance is available for them but very hard to find and at this stage for an entrepreneur it is probably the maven most biggest hurdle (Moules, Financial Times, 2006).The challenge of overcoming this equity gap is amongst one of the topmost reasons for small businesses not achieving their full effectiveness. According to an article in The Guardian most entrepreneurs overcome this o bstacle by obtaining finance from Business Angels (Kollewe 2007, Guardian). Business Angels are successful entrepreneurs running successful businesses, they invest in budding entrepreneurs in return for a plowshare of the business and tend to invest in businesses that have the potential to return a healthy profit.The term angel was originated by Broadway insiders in the early 1900s to describe flush theatre-goers who made high risk investments in histrionics productions (Mason 2005). The term business angel was given to those individuals who perform essentially the equivalent function in a business context (Benjamin and Margulis 2000). However, this type of business financing has only become significant since the 1950s and 1960s.Business angels are now defined as orphic, wealthy individuals who invest their own money as well as their age in small, young, unquoted companies with whom they have no family connections (Deakins and Freel 2003).BNET.com (2007) defines business angel s as an affluent individual who provides capital for a business, typically an equity investment. It is well known that angels rarely loan money without any strings attached (i.e. investment funds in return for a parting of the business equity) they most often conduct entrepreneurs and new businesses.Landstrom (1993) nations that most business angels have the same characteristics overall. He profiles them as heterogeneous group of people, as almost all business angels are or have been entrepreneurs from different backgrounds.However look for carried out by Coveney and Moore (1998) suggests that there is more to a business angel than serious wanting to make money. Coveney and Moore (1998) discuss that there are six different types of business angels. (See table 1 table of different angels in book page 11).Entrepreneur Angels these are the most active angels and experienced investors. They tend to have been successful entrepreneurs and now feel for ways to diversify their portfo lio or expand their current business. They are well known for making frequent and large scale investments, not just for financial gain but for satisfaction of making investments and interacting with the founders/managers. They are also considerable wealthier than other individual business angels.Corporate Angels these are companies that make angel type investments. These types of angels have been found to invest bigger funds than other business angels and have corporate resources at their disposal (Coveney and Moore 1998). They tend to invest mainly for financial gain. Income Seeking Angels are active business angels who make few and small investments for financial gain and to generate income/ dividing line for themselves. Wealth Maximising Angels are a group of active business angels who have made several(prenominal) investments in new and growing ventures, they make their investments primarily for financial gain. They are generally wealthy but not as wealthy as entrepreneur ang els. Latent Angels these angels are passive angels who have made one or two investments in the ultimo but not in the last three years. Latent angels are self made private individuals who are very wealthy and have vast amounts of funds to invest. When looking to invest latent angels will be concerned with location of the venture as they would prefer to invest in opportunities close to home, as shown in table (ba v svc)?. gross(a) Angels are angels who have not made an investment as of yet but are looking to finance new and growing businesses to create an income for themselves and to subjoin the return on their investment as much as they can. Virgin angels have fewer funds to invest than active angels. According to Mason and Harrison (1995)(business angels book) there are more sodding(a) angels than active angels and that if half of the virgin angels became active then the total informal venture capital market would grow to ten times the size of formal venture capital market.Mo st of the time angels prefer to be active angels as they like to invest in ventures and monitor their investments to ensure success. Similarly they prefer to invest in new young companies that are at their start-up stage and deep down close proximity to their home or work place (Harrison et al 2003). However research shows that although angels prefer to be active angels there are more virgin angels than active. (please see chart below). map ? Business Angel market could become 10 times largerSource www.1000ventures.comChart (above) shows that in 2000 there were more virgin angels recorded than active angels, this suggests that there are reasons for business angels not being active in investing in entrepreneurial ventures. If the virgin angels could find the right venture to invest in then the business angel market could potentially increase significantly. Could this be solved by angels den?Mason and Harrison (1995)(business angel book) tell obscure that most small / medium size d businesses are successful because of the right angel that has backed the business. This could also suggest that the wrong angel could mean failure of the business which is not the case as business angels have experience in all areas of running an organisation but are experts in certain areas, thus this does not mean the business would be unsuccessful.As mentioned earlier Business Angels fulfil an increasingly important financial backing niche, as banks only loan capital at interest, and venture capitalists invest relatively large sums generally when businesses wish to expand (see appendix I), which leaves the angels to support numerous new businesses each year.The critical issue for young vibrant businesses is finding sufficient funding for start-up and growth (Southon, Financial Times, 2008). Most entrepreneurs outgrowth look to banks, and venture capitalists for funding, these sources however can fund only a small pctage of businesses. It is now common for young businesses to find funding from business angels as they cater for this funding niche.The mesh of banks investing in entrepreneurs is lower than the venture capitalist investments (Fiet and Fraser 1994). Some of the benefits of banks entering venture capital finance are discussed by Fiet and Fraser (1994). One of these benefits suggests that the participation of banks would contribute to the exclusion of the widely reported capital gap that may exist for funding new ventures.However due to the low involvement of banks investing in new and young entrepreneurs this has increased the involvement of business angels.There have been surprisingly few attempts to compare business angels with non-investors (banks). This is largely due to the fact that their exact population is unknown, however as mentioned earlier a number of studies show that there has been a significant increase in late(a) years.It is evident from Fiet and Frasers (1994) research that business angels provide much more funds for new bus inesses than venture capital firms and banks, yet their existence is not as well known as banks. Mason and Harrison (1995)(business angel book) state that the reason for business angels not being well know as other investments is because many of the investments made by business angels goes unrecorded by the government due to the scale of investments.Research undertaken by Macht (2007) discusses the post-investment period of business angels and their involvement and impact upon their investments. This study focuses solely on business angels where a survey was administrated online and electronically to business angels to explore their involvement and impact on their investments after the investment had been made, then post-involvement. This was a useful analysis of why business angels invest and what motivates them.However the research does not consider the entrepreneurs or any other investment when the analysis was carried out. The study by Macht (2007) could add value to this resea rch when assessing what factors business angels contribute in their investment and what sets them apart from banks.There are many banks tossing loans to entrepreneurs to either start up their business or support the expansion of the business. Banks requires a thorough business plan submitted for them to evaluate whether the individual is extension worthy, whether they will be able to pay their loan, and within what timescale.According to Small Business Administration (SBA) the most common way entrepreneurs finance their growing or expanding business is through banks (SBA 2008). Banks provide the finance needed if the individual can demonstrate the ability to keep in business, and their ability to repay the loan and meet the firms other obligations. SBA (2008) state that a more difficult route of obtaining finance is from business angels and venture capitalists as these individuals and firms assist companies to grown in exchange for equity or partial ownership. (refer to appendix show a graph of a business life cycle, i.e. start-up, expansion, maturity etc).SBA (2008) claim that there is no much(prenominal) thing as one hundred percent financing and that it would be required from the entrepreneur to invest some funds into the business onwards a lender will provide financing, especially banks. However research has shown that business angels have financed entrepreneurial ventures one hundred percent based on the entrepreneurs idea / invention.Dragons Den has become a popular show on television where a group of angels form a vane to invest in budding entrepreneurs who pitch their business ideas to the business angels. It has become apparent from this program that business angels have provided one hundred percent finance in entrepreneurial ventures.When applying for finance to business angels they generally would want to know details of the entrepreneurs current financial website and background, however with banks it is much more complex than this. There are several questions a bank would need answers to before they would consider any practical diligence for a business loan such as, the specific purpose of the loan, the amount you are requesting, when and how capacious you would need the funds, how the loan will be repaid, what validatory will be used, and whether the business owners will provide a personal warrantee of some sort.A typical loan request involves the following componentsStatement of purpose outlining your purpose of the loan, what it will be needed for, and for how long etc.Business plan outlining what the business does and its short and long term goals.Financial statements this will outline the financial capacity and operation of the business which is important as it will give the lender an perceptiveness to how you have generated tax income in the past and how you will continue to do so in the future. A thorough complete loan application alone would not suffice when borrowing funds from a bank. gain military rank would need to be done on an individuals financial background to see if they are credit worthy, this is different to the evaluation of the business financials. According to Barclays Plc bank, there are three aspects of credit in making loans decisions which are outlined below.Character a check on your financial status and personal credit history.Capacity having sufficient hard currency flow to pay off the loan.Collateral providing assurance to the lenders as a last resort should the business not prove profitable.Collateral is a key aspect when applying for finance to a bank. Banks would want to lower the risk of lending as much as possible so that they would feel more confident the loan would be paid on time and in full, which is why they require security on assets, i.e. house, car.Majority of banks offer various loan packages for those wishing to start up or expand their business. This is with the intention to suit the loan to the needs of the particular business. For exam ple, a common loan that banks offer are the small business start up loan package, which are only available on a guaranty basis. The small business loans are not fully guaranteed by the organisation where normally if a payment default occurs the Government will recuperate the lender for its loss up to a certain percentage.To be bailable for a small business loan the firm must not exceed one hundred employees in a wholesale business, or generate more than $21 million in annual revenue (HSBC 2008). This varies for a manufacturing firm (please refer to appendix ? SBA slides 15). In addition to this, assistance cannot be proved to non-profit organisations, firms involved in illegal activities, or a monopoly situation or businesses engaged in pyramid sales. The small business loan can be used for many purposes such as, grease ones palms of land and buildings, long or short term working capital needs, or purchasing an existing business.Other loans offered by banks are special purpose loans, and underlying micro-loans. The special purpose loans serve specific markets such as export markets. The special purpose loan is designed to be short lived that is only required at times of market needs. The basic micro-loans are small loans for small businesses who struggle to obtain conventional financing but have good prospects for repaying the loan back.The micro-loans are under $35,000 but on average the loan size is $13,000, check to Halifax bank plc. These loans overhaul finance the equity gap however are subject to the entrepreneurs potential in repaying the loan. (need to find accurate referencing for these banks mentioned, also change $ to . P.s. click on slide link for info).As mentioned earlier, if approaching a business angel for finance then the business angel would need to know financial and background specifics of the entrepreneur and the venture. For an entrepreneur, preparing a business plan is vital whether it be for banks, venture capitalists, or busine ss angels. The hardest part to obtaining finance from a business angel is to actually finding business angels, as business angels are not as publicly known as banks nor are they known for financing as many investments as banks do. Similarly it has been hard for business angels to finance investments due to a lack of access to a come in of investments.Hughes (1996) found that business angels would invest more frequently if they had access to a better range of investments however he also stated that many potential ventures which meet the minimum criteria of business angels still goes unfunded. This shows that the right type of business angel cannot gain access to the right type of venture. recent research shows that in order to overcome the hurdle of the angel concussion the right investment, vice versus, business angels have come together to form networks (FT Moules 2007). This allows a group of angels to combine their funds together to offer larger investments for entrepreneurs ne eding larger finance.Thus the entrepreneur also benefits from having more than one business angel on board to provide the business with their expertise and knowledge. As mentioned earlier, Dragons Den is a group of business angels who invest in entrepreneurial ventures that are brought forward to them. There have been several cases where more than one angel has invested in the same venture.There has been further development of the tralatitious angel networks of meeting entrepreneurs face to face. Angels Den has been one of many to set an online networking website that specifically aims to connect entrepreneurs with business angels (FT Moules 2007). How this works is that the users of this benefit would pay a small fee of around 100 to pitch an idea to the websites private investors. If the idea is liked then entrepreneur must pay a larger fee of around 400 to pitch a full business plan. From this point if the investor is interested in the pitch then a face to face meeting is arra nged.The fees that are charged for these websites are to be said a fraction of the cost of traditional marketing, according to Financial Times 2007, Moules. Angels Den does not take equity venture in funded businesses or a percentage cut from completed deals, and the service is free to business angels (angelsden.co.uk). The website encourages business angels to join which is free for them to do so this is beneficial for entrepreneurs as it does not discourage business angels from joining hence increasing their chances of finding the right angel.This method is gradually becoming well known to the public thus increasing the exposure of business angels. It would and so become much easier for entrepreneurs to find business angels and not feel banks and venture capitalists are the only accessible alternatives for finance, especially for those that have poor credit and no security to offer banks. It would also be easier for the government to meter the investment activity on annual basi s and realise that business angels do make more investments than currently recorded that fill the equity gap (FT Mason, 2007).There had been attempts in the past to achieve similar objectives to the online networking sites as discussed above, these were referred to as business introduction services. They had tried to act as communicators between entrepreneurs seeking capital and interested potential investors however this service did not exist online. According to Hughes (1996) these organisations had not been very successful in overcoming the problem of filling the equity gap, which still exists to this day.An article by the businesszone.co.uk states that one of the most common mistakes that individuals starting out in business make is take for granted that they can reach their full potential by themselves. Whereas Dragons Den angels Theo Paphitis, and Peter Jones claim that the biggest mistake entrepreneurs make is over-estimating the value of their company and not having comme il faut cash to sustain the business. As Theo Paphitis quotes cash is king.Even though business angels seem to be more beneficial as investors than banks Drury (2008)(nzherald.co.nz) states that the vast majority of business angel deals do not proceed well. This can be because companies can often take much more time than the angel had thought and also more cash than forecasted. This could also be because the angel that has made the investment is a first time angel investor and thus lack experience. Drury (2008) also states that some angel investors may not know they are an angel yet as anyone moderately wealthy could potentially be an angel if they find a venture to invest in.There are many ways to define beneficial, prenhall.co.uk defines beneficial as producing or promoting a favourable result. In terms of investing in entrepreneurs and which investment would be beneficial for entrepreneurial ventures this can be measured by reviewing what factors are advantageous for the entrepre neur and their business.Some of the factors can include the followingFinance providedInterest rateExpertiseKnowledgeUsing business angel contactsInvolvement from the investor to improve thingsNo involvement from the investor, therefore less interference in the businessStudies have shown that business angels can provide added value beyond financial capital (Ehrlich et al 1994). Having a business angel invest in the venture can help sustain competitive advantage, which is beneficial for the entrepreneurs, as the angels bring more than capital to the business they can bring their experience, contacts, and expertise to progress the business further.The resource-based perspective argues that sustained competitive advantage is generated by the unique great deal of resources at t

Volkswagen Groups Strategy And Automobile Industry Marketing Essay

Volkswagen separates Strategy And Automobile Industry Marketing EssayThe MQB programme is an move curriculum of the Volkswagen Group. The confederacys strategic program or plan of the communication channel is known as Strategy 2018 irrefut able-bodied it is intentional to produce the Volkswagen Group glob altogethery innovator in the 2018. By developing a received, congruous list of parts from which to produce a number of automobiles, VW intends to stiffen the boilersuit time, which is normally pretendn to construct a car by 30%. One of the ways of judging the position of specific labor is evaluating by Porter quintet forces model. MQB go forth permit an spacious pecuniary nest egg beca procedure of economic climates of scale as easy as that the monetary savings testament permit the high utilization of high forcefulness crops in automobiles, which makes them slight dangerous and comfortably make.Key words automobile industry, MQB platform, strategy, kick y of scale, PorterIntroductionThe Volkswagen Group is located in Germany and is itemly among the worlds natural elevation automobile suppliers as salutary as the leading automobile company in the europium. The Group comprises 10 speck names and e very note features its own character and functionality as a separate entity in the commercializeplace. The companys strategic program or plan of the business is known as trategy 2018 plus it is designed to produce the Volkswagen Group globally innovator in the 2018. Volkswagen is soon striving to improve and enhance its product sale to be able to produce over 10 million automobiles annually, as headspring as to boost the return on product sales prior to evaluate to a minimum of 8%. To attain these objects, the MQB brass result be having a broad role. (Wiedemann, 2011)MQB PlatformThe MQB platform is an automobile platform of the Volkswagen Group. It stands for erman Modul arer Querbaukasten which atomic number 50 be translate d into odular Transverse Matrix, with which Volkswagen Group cease design a wide variety of transverse, FWD drive models by using the like bewilder of comp mavinnts. Usually, all(prenominal) automobile platform is designed specifically for a trade segment and is dual-lane amongst cars of similar size. Volkswagen, is now creating shared modular platforms to serve the destinys of its different divisions, thus the MQB platform is the virtually young and will be enforced for vast trade models with FWD cars. (Wiedemann, 2011)Together with the MQB platform the primary thins regarding improvement is the dimension that needed to be fixed between the firewall and the axles. The wheelbase, track as come up as rear overhangs along with comprehensiveness all can be developed as needed in the style. The MQB will handle various models of Volkswagen. For instance, it handles the following designs Gold, Passats, Jetta, Scirocco, Beetle, and VW CC. In the foreseeable future, about of these versions could theoretically be manucircumstanceure about the same assembly production line as soundly as it will regulartually be accomplishable to force MQB designs of various discolouration names collectively. The primary parvenue automobiles to be peed would be in line with the MQB is definitely the successor towards the Golf as easy as towards the next generation Audi A3 models. (Wiedemann, 2011)By developing a standard, compatible list of parts from which to produce a number of automobiles, VW intends to reduce the overall time, which is normally taken to construct a car by 30%. Normally, the vehicles by VW normally founder 40kg fish, which is lighter in weight as compare to the todays counterparts. One of the most notable attribute from the MQB is the standard placement of all new types of engines, which are alleviateing as well as accommodating the two new series of 4 piston chamber ground family series. The Groups engine as well as the gear parcel vari ations deep down the MQB system will probably be take down just by 90% due to the tell on new engines, and likewise the MQB allows the same mounting placement for all present substitute drive appraisals from propane and for hybridization designs. (Wiedemann, 2011)Working with a standard placement for all kinds of engines as well as transmissions is definitely a huge advantage. It could be a diesel-powered engine, electrical powered motor plug in hybrid arrangement or even gas based engines, all may be converge evenly which makes it ofttimes to a greater extent suitable. An unequaled proceeding can likewise be purchased with this uniformity in engine and in transmission. The predicted quantity of automobiles in the future with this bad-tempered sucker new platform is around 3.5 million which includes modest automobiles as well as normal sized sedans, also for the success of this project of VW will spend one thousand millions of dollars. Improving the automobile plants towards MQB system will certainly incur a grown amount of wrong but concurrently itll reduce the scathe of manufacturing by almost 20% and reduce the assemblage times by a remarkably 30%. (Horrell, 2011)One of the ways of judging the position of specific industry is evaluating by Porter five forces model. According to this theory, at that place exist five study forces in industry that de destinationines the overall profitability of that industry. Grundy (2006) evidenced that porter five forces model has boosted strateigic management to the new horizon of management world. (Grundy 2006)New entrance ThreatThroughout this automobile production business, this is certainly a marginal affright. Issues to look at in this threat contain all hurdle race to accessibility in market. For example, advance investment capital, reproach equity, regulation and state policies, and capability to deliver the merchandise (Porter, 1996) .As the Volkswagen is one of the leading and famous manuf acturers of automobile, so they have no threat of entry of new company. They are already the biggest automobile manufacturers in Europe. Moreover, in case of automobiles, customers usually p reference in that respect trusted brands and companies. Volkswagen is one of the leading automobile manufacturers so they have slight threat of any new entry in the market. Moreover, they are forever focusing on product innovation that is why they have slight risk from any new company entering in market. (Porter, 1996)Vendors talk terms PowerThe bargaining power of traffickers is also a major factor. It federal agency that exactly how strong could be the position of your trafficker. Exactly how much the vendor has influence over raising the rates of products? Vendors tend to be stronger if vendors are focused as well as properly organized, a weakened number of alternatives available in the market to products, their particular goods is usually most reliable or distinctive and you are usu ally not a major client to Vendor. Whenever vendors possess extra control over products as well as its rates which segment is importantly less appealing. It is reveal approach to produce win-win relationship with vendors. It is wise decision to acquire multiple-options of sum (Avila, 2001). In the automobile industry, it is generally referred to the supplier of spare parts engine parts, car accessories etc. It also includes the auto-unions. The vendors can charger high prices for the supplies as the VW MQB platform is a new reform in automobile industry so suppliers can charge extra amount. In order to avoid this problem, the company has to look for multiple suppliers for their machinery and raw materials. Strong vendors can annex the rate of their products that eventually increments the cost of industry. In this competitive market, the high vendor bargaining power can cause round serious reparation to the Volkswagen. (Avila, 2001)Alternative productsIf customers can examine to the level of contest or some new(prenominal) similar products and dish outs, and switch quickly there could possibly be a great danger of this particular force. Because of brand new motors, the particular switching cost is actually huge due to the fact a person will not be able to sell the brand new motor vehicle for the similar amount, he paid for it (Grundy A. N., 1997). The showtime-class honours degree of MQB is predicted to take the entire Volkswagen Group one single level nigh to their aim to become the particular worlds number-one motor vehicle producer, overtaking Toyota as well as commonplace Motors. Therefore, Volkswagen assemblage will face less chances that their customer will switch to some other cars. Innovation in products is the key element of Volkswagen success. There new MQB platform will help Volkswagen to produce more innovate motor vehicles and they can save up to 25 percent cost. These cost effective innovate motor vehicles will persuade customers t o buy the Volkswagen products. (Grundy A. N., 1997).Market CompetitionMarket contest means the level of rivalry between the current competing firms already in the market. take aim of competition relies upon on how many competing firms and their functionality. Market competition is high when Generally, there are usually number of limited or similar competing firms and significantly less whenever there is a definite industry leader. Buyers have less switching costs Market is developing Exit obstacles are higher and competitors stay and also remain competitive Fixed expenses are huge resulting massive manufacturing as well as decrease in pricesThese types of scenarios ca-ca the grounds for advertising and marketing wars, improvements, price wars and eventually rates increase and it is challenging to remain competitive (Mahan McGowan, 1998)All top manufacturer of automobile faces that kind of problem. The automobile industry is growing rapidly in European countries and like all ot her car manufacturers, Volkswagen has to face tough competition in market from existing competitors. Volkswagen is facing a tough competition from General Motors and Toyota. Though Volkswagen is considered as the leading automobile manufacturer in Europe, it still faces intense competition from its rivals. The MQB will definitely enables the Group to create both high-quantity as well as niche versions at the maximal quality as well as incredibly competitive prices in the long run and also world wide-vehicles which are separately designed for the needs of extremely diversified industry like as America, China, Europe and also growing markets like India. (Mahan McGowan, 1998)Negotiating Power of the customersCustomers refer to the particular buyers who in conclusion acquire the product or service or even the companies who deliver the particular industrys product or service to your final customers. Negotiating potential of customers refer to the actual ability of customers to cut dow n the price levels charged by companies in the market or raise the firms expense in the market by asking for improved quality as well as service of goods. Strong customers can get revenue from of a market by reducing the selling prices and raising the costs. They will buy in huge amounts. They have complete details regarding the product or service and the market. They will stress on high quality products and solutions. They pose liable threat of backward integration. In this way, they are regarded as a threat (Thurlby, 1998).Literature ReviewIn February, 2012, Volkswagen intends to make majority of their technology designs with its all-new MQB form and it is such a sensible decision, which will certainly provide enormous economic advantages to the company. Moreover, it is revealed that Audi as well as Skoda will be manufactured on the same platform the initial product example of this platform is in fact Audi A3. On the other side, the next generation Skoda is coming in the market by the ends of 2013, which will be entirely based on the VW and MQB platform. Exactly the same platform may also be used by the near future versions of the additional VW Soda, Polo and VW Vento. On the other hand, VW Polo coming from MQB platform, the Skoda of 2014 will be having the same size however will provide an extended wheelbase, therefore enhancing the room interior. Furthermore, the Skoda Fabia, of 2014 will likely to have a gasoline engine alternative along with80 BHP power as well as 1.2 Liter displacements. (Volkswagen group introducing, 2012)The MQB system platform, referred to as ong term structures, the working platform is adequately flexible to underpin automobiles like sharp Polo and for big sized Passat. Most importantly, it is being declared that these types of designs could theoretically be constructed on a single manufacturing range. This will likely allow Volkswagen to bring additional high size along with market automobiles at lowered costs. The working platform may also be lighter in weight than present architectures and permit for standard installing of gasoline as well as diesel-powered engines. (Volkswagen group introducing, 2012)On 2nd February, 2012 it was declared that the brand new platform is placed to appear under each of the brand new Audi and VW versions in the future years, which is more likely to come in some more. Were able to anticipate probably a manufacturing edition of anterior years Cross Coupe idea. (Colwell, 2012)Volkswagen declares the platform of MQB simple as ong term structures, make to manufacture products just like Polo, to a family automobile to as large as the Passat. Developed to be lighter in weight than each of the brands present similar systems, the MQB will even provide diesel, petrol, as well as several renewable energy power locomotives. The very first versions to come out on the brand new platform would be the fresh 7th era Golf, as well as the modish Audi A3 with sedan. (Colwell, 2012)Also, on 26th march, 2012, on VW annual income headline, it was exposed that the business produced 9.3 billion end-to-end the year of 2011, up greater than 50%, Michal Macht, the panel better half member responsible for group manufacturing, mentioned he following 2 to 3 years are great for all of us, and during this period we plan to wield the technological innovation to ourselves. We dont want to reveal our superiority however in the moderate to long-term were able to promote the technological innovation. We might need to consider the possibilities and examine whether or not they made impression. (Colwell, 2012)VW Group reports to create a lot more than 6 million vehicles to the platform throughout VW, Audi, Seat and Skoda brand names by way of 2018. the chief of Volkswageon, who was evidently offered a 14.2 million reward for the companys achievement, recently, stated the investment decision within the MQB framework would start to pay back coming from 2014. Winterkorn predicted the fact that the VW has expended obturate to 50 billion dollars over 4 years inside the establishing and employing the MQB system. (Holder, 2012)he brand new Golf has to be huge leap and much better than the vehicle it replaces, e stated. e have spent greatly in this particular technological innovation, however were confident the advantages is going to be obvious for the business. Making the MQB system as well as organizing the production facilities to generate it needs spending in 2012 and also 2013, however from whence on the repayment should begin to come. (Holder, 2012)Additionally, there are many brand names, much more sections, plus more automobiles ever is probably no more apparent than inside the Volkswagen, along with its Ten marquees as well as more than 200 models throughout the world. VW is currently making shared lift-up systems to assist the requirements of its various subsidiaries. The most recent is known as MQB. (Holder, 2012)In future, the platform of MQB will help in almost everything through the sensitive VW up to the giant Passat. Generally virtually any VW Group product which supports its engine sideways right in front from the cabin will probably be MQB, thats about 60 vehicles. Volkswagen intends to go ahead and take platform idea towards the extreme, even though it wont reveal particular minimal and optimum proportions, however to obtain a great idea of the array we could examine it to the present Passat (it isnt constructed using the MQB system platform, however its as sized alternative will probably be) there is in fact a 15 inches of wheelbase speared, however the actual width varies up to the 8 inches between two, and also the size variation is more than 50 inches wide. Therefore, its very diverse. (CarWale Team, 2012)MQB can nearly be looked at as the best training of certain component sharing, instead of just one particular system. It unfeignedly is flexible enough to allow for several elementary components to be made from li ghtweight aluminum through communizing all of the subsystems in the automobile (motors engines, headgear installation factors, as well as MIB, Volswageons flip-up infotainment technique, for instance), generation and crop can be more efficient and therefore revenue could be at the maximum. Moreover, the platform MQB is based on a brand new system that signifies a lot more than the usual framework which can be modified to be used in the wide pickax of products. Volkswagen referred to as it he central source of light as well as safe automobiles. It goes with supplying a chassis which can be extended or reduced to suit various automobiles, to just one that gives its electric cabling, motors, as well as air-conditioning devices, and transforming. (Volkswagen is leading, 2012)In the coming future, the discipline of MQB is anticipated to create the Volkswagen Group one stage nearer to its objective to become the worlds leading auto producers. As outlined by Macht, the brand new MQB sy stem platform will certainly make use of typical elements throughout Volkswagens various brand names as well as products however it will even standardize the production sequences throughout products along with worldwide production places. Even though identical strategies to normalisation along with modularization are already implemented by rivals of Volkswagen, in the old the company has struggled hard to have control on the marketplace. (Mike, 2012)FindingsThe MQB system enables the VW group to create globally higher quantity as well as market versions at very competing price in the long run. The MQB makes use of synergies within key technology as well as enables higher financial systems of scales with the manufacturing line. This would be the groundbreaking part of the auto growth and manufacturing. By using MQB system, VWs development and progression could be efficient and income can be at the maximum. All automobiles depending on MQB tend to be 40kg lighter in weight compared to their quick predecessors, this leads to increasing the gas mileage coming from all MQB-based versions. (Sathiyanarayanan, 2012)The recent MQB idea is having a main architectural benefit for VWs within the worldwide auto business, letting it to decrease the price and become more competing on costs. With this way it may gain share of the market from (TM) Toyota Motors and (GM) General Motors to turn into the worlds biggest auto producer. Due to the MQB system, versions additionally gain in performance and satisfaction. MQB enables the VW Group to create both higher volume as well as specialized niche products with the best quality and very competing prices in the long run and throughout the world. (Bidsar, 2012)MQB will permit an enormous financial savings because of economic climates of scale as well as that the financial savings will permit the higher utilization of high durability products in automobiles, which makes them less dangerous and well made. The standardization will e ven lessen the price of production of elements and offers capability of sourcing. The decrease in the price of procuring signifies that Volkswagen can offer functions and products of high quality vehicles in low reckon automobiles. The MQB system based automobiles will probably be both competitively priced and also with the price at the same time. Furthermore, it will likewise be packed with functions compared to the different brands coming in the market. (Bidsar, 2012)

Climate Change and Food Security

temper metamorphose and Food Security INTRODUCTION1.1 scene to the assume Our activities atomic spell 18 inimical to the environment, our daily work and behaviour domestically, industrially and crimson agriculturally threatens the stability of environment as well as balance wheel of the eco system of rules. We lots burn bushes to farm, we practice factory farm with let out due regard to the environment (oil), we cut/fell trees down without knowing that we atomic number 18 altering the eco- system and nature. All these gay activities argon big(p) the nature and at the end, we ourselves ar to face the sequels and be to be blamed.(Professor David Ukali, chairman of NEST, Nov, 2010)David Ukalis statement explains how clement activities lead to the backlash we experience in our environment today. Man suffers diverse environmental multifariousnesss as a result of inappropriate agricultural practices twin with unscrupulous lasts of various important elements in the en vironment. clime lurch is mayhap the closely serious environmental threat to the fight against hunger, malnutrition, disease and pauperization in Africa, in general through its repair on agricultural productivity. humour transpose is one of the most serious environmental threats facing existence worldwide. Climate transmute may already be impacting Nigeria as manifested by increased inundate, delayed rains, enhanced desertification, tack magnitude bush fires and nutriment in pledge.It carry ons kitchen-gardening in several ways, including its direct impact on fodder product. Climate transmute which is attri neverthelessable to the natural clime cycle and human activities, has unseemlyly affected agricultural productivity in Africa (Ziervogel et al. 2006).That there is a reassign in the spheric climatic system is no longer in doubt. For instance, the periods we used to withstand rain stand deviated its proportion in term of sun rays and that is why it has been generally agreed that this modality diversify which is present the greatest threat to man and life on planet primer coat is gaining acceptance and that in the coming decade the world will find nobleer temperatures and changing in precipitation takes which would lead to low/ shortsighted agricultural income. The issue of clime change has become more threatening non only to the sustainable development of socio- scotch and agricultural activities of any masses but to the kernelity of human existence (Adejuwon, 2004). Rough estimates suggest that oer the next 50years or so climatic change will probable have a serious threat to meeting spheric provender needs than any separate constraints on agricultural system. (IPCC 2007, BNRCC, 2008).Available consequence shows that climate change is ball-shaped sea direct rose intimately 17 cen fourth dimensiontres (6.7 inches) in the last century and the rate has doubled in the last decade, there has been a rise in the glo bal temperature even though the 2000s witnessed a solar output decline resulting in an unco deep solar minimum in 2007-2009, surface temperatures continue to increase, glaciers be retreating almost everywhere around the world including in the Alps, Himalayas, Andes, Rockies, Alaska and Africa, likewise its impacts but the most adverse effects will be felt brinyly by developing countries, especially those in Africa, due to their low level of coping capabilities (Nwafor 2007 Jagtap 2007).Nigeria is viewed as one of these developing countries (Odjugo, 2010). Nigeria is experiencing adverse climate conditions with adverse impacts on the welfare of millions of its population, as the planet warms, rainfall patterns shift, and extreme events such as droughts, floods, and forest fires become more frequent (Zoellick 2009). Many African countries, which have their economies largely based on stomach- sensitive bucolic intersection system like Nigeria, are in particular vulnerable to cli mate change (Dinar et al, 2008). This exposure has been demonstrated by the devastating effects of new flooding in the Niger- Delta region of the country and the various prolonged drought that are currently witnessed in some part of Northern region.According to Olanrewaju (2003), climatic change is any edition of long term climatic inconsistency. The recent changes in the climate have been linked with the increase in babys room gases (GHG) on the atmosphere in addition to anthropogenic activities and support emissions of other artificial chlorocarbons (Olanrewaju, 2003).Climate change is besides believed to result from the effect of global warming on the environment. Global warming is regarded by many battalion to be the most serious environmental challenge of modern propagation (Giddens, 2006). Global warming refers to the gradual rise of the priming coats clean temperature due to changes in the chemical composition of the atmosphere it is believed to be caused in part by humans, because the gases that have built up and altered the earths atmosphere are the ones produced in large quantities by human activities. Global warming means that many dry regions are personnel casualty to get drier and wet areas are going to get wetter. Climate change in Nigeria is a ticking time bomb and it exists flyspeck or even nothing to mitigate its effects.(Nnimmo Bassey, Nigeria.) Peer-reviewed explore accepted by the Journal of Geography and Regional Planning concludes that Nigerias average temperature has travel by 1.7 degrees in the period 1901-2005. The increase has been higher in the semi-arid regions and depress in the coastal zone the rate of change has increased since the 1970s.The consequence for the Nigerian volume is a geographical pincer threat from desertification in the north and coastal erosion in the south. Through a conclave of overgrazing, abuse of woodland for fuel and increasingly unreliable rainfall, the Sahara is advancing at an estimate d rate of 600 meters per annum, rising sea levels threaten Nigerias coastal regions the Niger Delta may be the source of oil wealth but its low-lying terrain crisis-crossed with waterways makes it exceedingly vulnerable to flooding and salinization i.e. the build-up of salts in soil eventually to toxic level for plant.Food protection is the outcome of forage system processes all on the solid nutrition chain climate change will affect food certificate through its impacts on all components of global, national and local food system. The definition of food security as adopted at the military man Food Summit (WFS) in November 1996 says that food security exists when all people at all times have physical or economic access to sufficient safe and nutritious food to meet their dietetic needs and food preferences for an active and healthy life ( FAO, 1996).One of the biggest threats is increase climate unpredictability, which makes subsistence farming hard-fought, the impact of th e change will be difficult to handle and it will be potentially very long lasting,Droughts are getting worse and climate uncertainty is growing, Climate change is therefore an unprecedented threat to food security (Medugu, 2013). Arid and semi-arid areas in northerly Nigeria are becoming drier, while the southern part of the country are getting wetter, as the weather gets warmer most of the aquatic life, the fish, run away to seek colder amnionic fluid thereby emptying Nigerias vast waters of marine resources, and which by extension means Nigerias reliance on imported fish and other sea foods increases. Climate change often appears very esoteric but in Nigeria it is real, Currently there is an increasing incidence of disease, declining agricultural productivity, and rising incidences of heat waves (Stringer et al., 2009).The threat that climate change poses to agricultural production does not only cover the area of harvest-time husbandry but also includes livestock and in fact th e total agricultural sector. The impacts of climate change on agriculture can be classified into biophysical and socioeconomic impact (Khanal, 2009). Climate can also affect the quantity and quality of feed stuffs such as pasture, forage, and grain and also the severity and distribution of livestock diseases and parasite (Niggol and Mendelsohn 2008). Climate change impacts the intravenous feeding key dimensions of food security, namely food availability, food stability, food accessibility, and food utilization.According to vision 2020 as declared by the government of deeply president Umar Musa Yardua in October 2009 stated that by 2020 Nigeria will have a large, strong, diversified, sustainable and competitive economy that effectively harness the talents and energies of its people and responsibly exploits its natural endowments to guarantee a high standard of invigoration and quality of life to its citizens the declared aims of Nigerias national agricultural insurance policy are firstly attain food security, secondly increase production and productivity, thirdly generate employment and income and fourthly expand exports and reduce food imports thereby freeing resources for critical infrastructure development and delivery of complaisant services. To achieve this aims, the problem of climate change as to be curtailed so as to enhance future possibilities of economic development and growth which is the major goal of the country.1.2 Statement of the ProblemIn Nigeria, agriculture has tended to be the main source of food, and a major source of industrial raw material, as well as the means of earning foreign exchange. It employs close to 70% of the Nigerias population. Agricultural practice in the country is predominantly rain-fed and therefore particularly vulnerable to the impacts of climate change, and a study report by ( Harvard line School) HBS in 2010 predicted that under a business as-usual scenario, Nigerias agricultural productivity could decline by between 10-25% by 2080, in certain parts a decline in rain-fed agriculture could be as high as 50%, exposure to extreme events makes subsistence and small scale farmers most vulnerable to climate change because of their limited capacity to adapt.Therefore, Nigerias vulnerability will be in two waysThe resulting impacts of climate changeThe impact of response measures this is because Nigerias economy is highly dependent on income generated from the production, processing, export and consumption of fossil fuels and associated energy-intensive products.As a result of the global climatic change, Nigeria has been affected greatly as there has been variations in the weather condition and also the frequent flooding that have led to the destruction of properties and also death of many Nigerians especially in the riverine area of the country.1.3 look for QuestionsThe research questions for the study are as follows1) What is the relationship between climate change and food security?2) What h as been the effect of global climate change on food security in Nigeria?3) What is the impact of climate change on food security in Ogun State?Objectives of the StudyThe simple election objective is to leaven global climate change and how it affects food security in Ogun State, Nigeria. It can be achieved through the pursual.1) Explaining the relationship between climate change and food security2) Identifying and analysing the effects of global climate change on food security in Ogun State.3) Illustrating the impact of climate change on food security in Ogun stateResearch HypothesesFor the design of this research some hypotheses are intended to be formulated and tested. The hypotheses are drawn from the objective research questions of the study. The hypotheses areHypothesis oneH0 global climate change does not have a great impact on food security in Ogun StateH1 global climate change has a great impact on food security in Ogun StateHypothesis twoH0 Adequate efforts have not bee n make to reduce the effects of global climate change on food security in Ogun State.H1 Adequate efforts have been made to go down the effects of global climate change on food security in Ogun State.Significance of the StudyEvery research work is a contribution to already existing knowledge. Therefore, as the world is dynamic and problems are a continuous part of mans existence and people will always continue to struggle for survival and as a result of this people will always be moved to enquire and factors responsible for such problems and then going beyond this to provide solutions for this problems. In as much as global climate change system prevalent in our country today and threatens the availability of food in the society, it is therefore pertinent to carry out this study so as to bring to the awareness and understanding of people the importance of a peachy agricultural system and environmental consciousness.Scope of the StudyThe scope of the study is primarily on global climate change and its impact on food security in Nigeria especially in Ogun state. It will examine the causes and consequence of the phenomenon of climate change and how it has generously affected the availability of food in Ogun state.1.8 Limitation of the StudyThe limitation to this study has been inaccessibility to data, time involvement in unplanned activities such as school meetings, seminars and so on.Methodology of the Study supplementary sources of data shall be employed in this work and they include pertinent books concerning the topic, newspaper, daybook articles, magazines, encyclopaedias and the internet shall be made use of. Primary sources of data would also be used as the topic of study is a recent phenomenon and is still in happening on daily basis and so the effects would be canvas by visits to the rural areas of Ogun states where agricultural practices are happening and also, primary tools would be applied as interviews would be conducted and questionnaires would be distributed.Sources of entropy CollectionSecondary sources of data are employed in this work and they include relevant books concerning the topic, newspaper, journal articles, magazines, encyclopaedias and the internet shall be made use of. Primary sources of data would also be used as the topic of study is a recent phenomenon and is still in occurrence on daily basis.Sources of Data CollectionThe effects of global climate change are canvas by frequent visits to the rural areas of Ogun states where agricultural practices are happening and also, primary tools would are applied as interviews would be conducted and questionnaires would be distributed.Interviews are conducted with the commissioner of agriculture in Ogun State Mrs Ronke Shokefun and the commissioner of environment Dr Lanre Tejuoso.Techniques of Data AnalysisDescriptive form of data analysis is employed in this project work as am going to be describing phenomenon that is in existence. Descriptive method of data analysis describes systematically the fact, qualities, characteristics of a given population, event or area of interest as factually and accurately as possible to proffer answers to questions asked by the problem of study. This study describes the events of global climate change and how it has interpreted a prominent position in affecting food security. abstract Of StudyThis research is made up of five chapters and each chapter analyses the chaseChapter one focuses on the introductory aspect of the research work which discusses the following background of study, statement of problem, research questions, significance of study, scope and limitation of study, objectives of the study, research methodology and so on.Chapter two attempts a literary productions review and discusses the theory-based framework. In this chapter we will be analysing previous arguments that have been laid out by scholars in the field of this study and so be use a thematic structure to help further our unde rstanding of the phenomenon of this study. The literature review aspect of this chapter helps the police detective to relate with the scholarly works and books in the field of study while the theoretic framework helps the researcher base his research on a specific theory that is in line and helps to further explain his research.Chapter three is an overview of global climate change and its effect on food and food security that is the major changes that have been experienced since the inception of climate change in Nigeria especially in Ogun State. Also, how it has disrupted the production and distribution of food in the society focalization mainly on the effects of global climate change and food security in Ogun state,Chapter four focuses on the analyses of data gathered and native explanation of the results gotten from the statistical data.Chapter five attempts summary of the study and makes recommendation, it also concludes the work.REFERENCESAnsel, E. Taofeeq A. (2010).Challe nges of Agricultural Adaptation to Climate Change in Nigeria a Synthesis from the books , Field Actions Science Reports Online, Vol. 4, 2010, retrieved on 17 December 2012 from http//factsreports.revues.org/678/volume 4.Apata, T.G. (2011) feat of global climate change on Nigerian agriculture An existential analysis CBN journal of applied statistics, volume 2 number1 pp.31-45.Ayinde, O. Muchie, M. Olatunji, G. (2011). Effects of climate change on agricultural productivity in Nigeria A Co- integrating Model Approach Journal of Human Ecology volume 35 number 3, pp.189- 194.Medugu, N. (2012) Nigeria and Global Climate Change issues as retrieved on the twenty-eighth of August 2013, from the website http//environmentalsynergy.wordpress.com/2012/07/01/nigeria-and-global-climate-change-issues/Odjugo, A.O. (2011) Climate change and global warming the Nigerian position journal of sustainable development and environmental protection, volume 1 number 1 pp.6- 17.Odjugo, A.O. (2010). Region al Evidence Of climate change in Nigeria journal of geography and regional planning volume 3 number 6, pp.142-150.Oyinbo, O, Rekwot, G.Z, Ugbagbe, O.O (2013). Socio- scotch Implications Of Climate Change On Food Security And Livelihood in Nigeria A Desk Review. Department of Agricultural and Economics and Rural Sociology Faculty Of agribusiness/ Institute For Agricultural Research. Ahmadu Bello University, Zaria, Nigeria.Yusuf, N. (2012) Climate change, social transition and Nigerias economic development journal of international NGO volume7, number 2, pp.35-38.Climate Change Challenge For Nigerias Food Security retrieved form http//bivnze.wordpress.com/2010/11/11/climate-change-challenge-for-nigerias-food-securityNational Planning Commission, Nigerias vision 20 2020, October 2009.National astronautics and Space Administration. Global Climate Change Vital signs of the planet, July 2013.1

Overview Of Wilmar International Limited Company Marketing Essay

Overview Of Wilmar transnational Limited Company marting assayWilmar world(prenominal) Type Public (SGX F34, ASXSGT) Industry Agribusiness Headquarters capital of Singapore Key people Kuok Khoon Hong, Chairman Products Palm Oil Revenue $23.89 adept million million million USD ( knock against 2010) Operating income $1.88 billion USD (March 2010) Total as objurgates 23.36 USD (March 2010) Total equity 30.31 USD (March 2010) Employees 80,000 Website Wilmar International Homepage Wilmar International Limited1 founded in 1991, is today Asias leading agribusiness group. It ranks amongst the largest listed companies by market capitalization on the Singapore Exchange (second largest as of Sep 2010)2. It is a Singapore-based investiture holding company that appends management services to its 400+ subsidiary companies3.Wilmar International business activities include inunct palm cultivation, viands oils refining, oilseeds crushing, consumer pack edible oils touch and merchandising , specialty fats, oleochemicals and biodiesel manufacturing, and grains processing and merchandising.Wilmars merchandising and processing department shroud (1) merchandising of palm oil and laurics-related products (2) operations of palm oil processing and refinery plants (3) crushing, further processing and refining of a range of edible oils, oilseeds, grains and soyabean. Its consumer products segment has oil bottling business in Peoples Republic of China, Vietnam and Indonesia. Its orchard and palm oil mill segment engages in oil palm cultivation and milling. different segment includes manufacturing and dispersal of fertiliser and ship-chartering services.Another winner of the company ar turn over a largest global processor and merchandiser of palm and lauric oils it has a largest plantation companies in Malaysia and Indonesia one of the largest palm biodiesel maker in the world a leading consumer pack edible oils producer, oilseeds crusher, edible oils refiner, specialty fats and oleochemicals manufacturer in China, in India, one of the leading importers of edible oils into East Africa. These atomic number 18 news active its successesPrimarily in the core agricultural business, Wilmar has chalked up US$21.3 billion in revenue following increased gross revenue volume in oilseeds and grains and consumer products as hearty as higher merchandising price of agricultural commodities.Under the deal, Wilmar is buying Malaysia-listed PPB OIl Palms Bhd, Kuok Oils Grains Pte Ltd and PGEO host Sdn Bhd for 4.1 bln sgd in an all-shargon deal.Wilmar will issue to the Kuok Group 2.4 bln new sh bes at 1.71 sgd each as payment for the acquisitions, giving the Kuok Group a 31 pct chance in the merged entity.The stake of Wilmar Holdings Pte Ltd in Wilmar International will be diluted to 48.5 pct from 81.90 pct after the merger is completed.Separately, Wilmar International say it is buying the edible oil and grains businesses of Wilmar Holdings , including the i nterest of Archer Daniels Midland Asia peaceable in the said businesses, for 2.5 bln sgd.(http//www.forbes.com/feeds/afx/2006/12/14/afx3254056.html12.14.06, 528 AM ET)2. CSR corporate brotherly Responsibilitties of the CompanyLike all the big and famed companies, they al ship delegacy focus on the responsibilities to the increasing demands of society for greater Corporate Responsibility, They atomic number 18 interesting in protect the environment, they participated into the Sustainable sourcing activities, and Community and Social Benefit,News from Businessweek.com/news / 2010, Wilmar International bought a CSR Ltd pelf unitBy Wendy Pugh and Luzi Ann JavierJuly 5 (Bloomberg) Wilmar International Ltd., the worlds largest palm oil trader, agreed to buy CSR Ltd.s sugar unit for A$1.75 billion ($1.5 billion), beating Chinas Bright Food Group Co.s bid for Australias biggest refiner.The offer includes A$1.35 billion in cash and A$403 million in assumed net profit debt, Singapore- based Wilmar said today in a statement. Sydney-based CSR is the worlds second-largest exporter of raw sugar and Australias No.1 producer of sugar- based ethanol and renewable muscularity generator from biomass.(http//www.businessweek.com/news/2010-07-05/wilmar-to-pay-a-1-75-billion-for-csr-s-sugar-business.html )In official website of the company, they wrote these as projection to the society Our business activities let a direct impact on livelihoods and quality of living, both on our employees and our neighbouring communities. The nature of our business means that we sometimes operate in the most remote parts of developing countries. We comport eudaimoniaed much from these countries and we wish to do our bit for these countries too. We recognise our ability, and our responsibility to rectify the quality of living conditions of our neighbours, especially for the rural poor.Our undertake is to ensure we incur meaningful and lasting benefits to the communities in areas where we operate, while we maintain the continual viability of our business. We imagine one of the best means to achieving this is to build open, honest and mutually serious relationships that promote harmony with them. To this end, we are committed to turn oerive socio- scotch policies and programmes in the local anaesthetic communities and economies we operate inIn a nutshell, we firmly believe that environmental conservation and economic prosperity done sustainable agriculture shag work in practice.(http//www.wilmar- internationalistic.com/sustainability/community.htm on March 04, 2011)And how do they face to mood changes? They said Human pressure on the global climatic transcription is largely the result of economic and industrial activities that commit increased the procession of greenhouse gases (GHG) into the atmosphere. Greenhouse gases, associated with the greenhouse effect and subsequent global warming, are caused by the accumulation of mostly carbon dioxide and oth er gases such as methane and nitrogen oxide in the atmosphere.We monitor our GHG emissions and are constantly looking for ways to reduce our carbon footprint in our plantation and industrial operations. For example, our mills make use of biomass to generate electrical energy, including agricultural wastes such as inane fruit bunches, tree fronds from the plantations, by-products from mills like shells and mill fibre. This helps to cut ware our consumption of fossil fuels, by reducing our dependence on electricity from the national and local grids, as well as diesel-fired plant generators.These biomass energy plants generate carbon-neutral electricity, and some are registered as Clean Development utensil (CDM) projects. Under the Kyoto Protocol, aprotocolto the United Nations Framework Convention on Climate Change (UNFCCC), industrialised countries (countries listed in Annex B) can do their commitments to GHG reduction, by participating in project activities in developing countri es, which are certified to reduce GHG emissions.(http//www.wilmar-international.com/sustainability/stewardship_climate.htm on March 6, 2011)The concept of High conservation Value Forests (HCVF) is defined by the Forest Stewardship Council as having outstanding and vital importance due to its high environmental, socio-economic, biodiversity, or landscape values. For example, the forested areas whitethorn contain rare, threatened or endangered ecosystems, or the areas may provide basic services of nature in critical situations such as erosion control. The concept is conceived as a way of reconciling socio-economic progress with environmental protection.(http//www.wilmar-international.com/sustainability/stewardship_land.htm on March 6, 2011)SubtainabilityBut while fulfilling these obligations, businesses are very much caught in a trade-off between the desire for economic produce and the imperative to protect the natural environment and safeguard the interests of the population from climate change and environmental degradation, to the imbalance between rising population and depleting resources, as well as the widening rich-poor divide.In our endeavour towards achieving business excellence, we have learned from others as well as from our own experience that sustainable development is the way forward. With this appreciation, striving for the right balance between maturation and sustainability becomes our principal goal.Amidst the impoverished regions of the developing economies in which we operate, our presence has brought relief and constancy to many who live on the poverty line.In our farming practices, we have also adopted a responsible plantation management approach that enables us to nurture natures biodiversity without compromising yields or plantation profitability.In a nutshell, we firmly believe that environmental conservation and economic prosperity by dint of sustainable agriculture can work in practice.At the equivalent time, we also recognise w e can do much to a greater extent to benefit the world with help and support from other stakeholders. This refers to engaging stakeholders through audition and addressing their concerns into our business decisions and actions, as well as forming strategic collaborations with them, where relevant.Indeed, palm oil production can enjoy longevity if operators subscribe to the same set of principles and adopt the same set of responsible best practicesThey take dish out the Employee Welfare also as Training and development have forever and a day been an integral aspect of continual investment in our serviceman capital, to enhance individual and organisation effectiveness. We work to ensure that every employee has an equal luck at career development.We also encourage our employees to take up overseas assignments or postings to further their learning.Health and safety are Wilmars top considerations concerning the employees. Wilmar pays sleepless consideration to the safety of our empl oyees at the workplace, for our plantation operations all over the world. We conduct regular trainings and implement programmes to foster awareness of occupational wellness and safety risks. Additionally, we inculcate stringent health and safety policies, as well as practices amongst our staff in all our operations.With a significant deal out of our employees based in the plantations, we take an extra interest in their welfare. This is reflected in a series of undertakings to support their work and livelihoods.We provide rice at subsidised rates for our employees. In areas where oil palm cultivation is not suitable, we have converted the flood-prone lands to paddy fields for rice cultivation. The produce is hence sold to employees at subsidised rates( http//www.wilmar-international.com/sustainability/community_welfare.htm on March 6, 2011) sightly look at the company website, we might have not a overall view of all, from another source we find out more about this SYDNEY/capital of Singapore (Reuters) Singapores Wilmar International Ltd (WLIL.SI) on Monday struck a surprise deal to buy Australian conglomerate CSR Ltds sugar business for A$1.75 billion ($1.47 billion), trumping Chinas Bright Food Group.By Michael Smith and Charmian KokinSYDNEY/SINGAPORE Mon Jul 5, 2010 317am BST(http//uk.reuters.com/article/2010/07/05/us-csr-idUKTRE66328B20100705)While other companies either struggled or sank during the economic downturn last year, Singapore-headquartered agribusiness group Wilmar International had a occupy 2009, continuing its growth schema of previous years and making ii large oleochemical investments. (http//www.icis.com/Articles/2010/09/30/9397836/wilmar-boosts-growth-in-oleochemicals.html on 30 September 2010 1849) volition Wilmar Hit The Property Jackpot?Despite this, a challenging run environment, let down margins and a hike in various expenses have brought about a 30% fall in Wilmars bottomline. Nevertheless, Wilmar generated 4.9 times increase in cash flow from operating activities. Notably, Wilmar was able to maintain its proforma net train at a healthy level of 0.7 times as at 30 September 2010, despite a 46.7% jump in net loans and borrowings. These speak volumes about the strong financial position Wilmar is in.(http//www.sharesinv.com/articles/2011/01/17/will-wilmar-hit-the-property-jackpot/ 17 January 2011)Why could they face with the world crisis? They were undertaking to protect environment, protect human work right, they had good policies to expand to another countries like China, and India which is along with the globalisation large champagne, so the company could be faced to world crisis in recent years.Another way, in the company website, they said Our business strategy involves building an integrated business model which captures the entire value kitchen range of the agricultural commodity processing business, from origination, processing and transportation to the branding, merchandising and distribution of a wide range of agricultural products.Our business model enjoys lower cost due to economies of scale, integration, logistical and distribution advantages, and superior market intelligence.(http//www.wilmar-international.com/business_index.htm on March 7,2011)I think this is the main key of the company which it makes them chasten the crisis, while the world is faced the big inflation. Due to lower cost, tack for big customers with large volume of quality goods, they keep on the success way to maintain the reputation and revenue of the company.This is its strategy over prehistoric few years, Significance Wilmars latest investment is in line with its long-run processing strategy and may see the company reap benefits in the future from rising commodity prices as palm oil is one of Indonesias main export commodities.(Singapore Daily Bulletin 08/02/11)The Markets it has focused are China, India Market to exploit the potential factors of these land while these countries are on the way to develop that is the large market, great number of labours, and good source of materials etc for its improvement. The globalisation Strategy of the company is that process. And they have success on this strategy sooner quickly, from 2006 until now.5. Vision, Mission, goalsAs the above evidence, we found out that the vision of WilmarOUR VISION To become the best, reliable, honorable oil palm plantation and put on the international level. OUR MISSION To manage healthy and innovative oil palm plantation and processing industry and to put priorities on quality and environmental sustainability through the implementation of Good Corporate Principles in ensuring the goals of all companies stakeholders.(http//recruitment-wip.com/ on March 7, 2011)And what are goals that is bring the value things to life for stakeholders, customers, environment, society and so on. citeWILMAR INTERNATIONAL LIMITED(Company Registration Number 199904785Z)(Incorporated in the Republic of Singapore) page 1 of 3NOTIFICATION PURSUANT TO RULE 704(11) OF SGX-ST LISTING manualList of persons, occupying managerial positions in the Issuer or any of its principalsubsidiaries, who are related to a Director, CEO or Substantial Shareholder of the Issuer.

Purpose Of The External Audit Report Accounting Essay

intend Of The External visit Report Accounting testThis assignment is pass to allow a password on the erudition of the impertinent size up report, an explanation how and why wording in the impertinent analyze report has evolved, as well as an explanation and discussion on the IAASBs objects and a comment on possible future developments.Purpose of the international audit reportWhen dealing with the purpose of the external audit report it comes down to who is being asked the question as in that respect ar many perceptions as to what bargonly the purpose actually is. The Institute of undertake Accountants in Australia believe The objective of the financial statement audit is to conduce credibility to managements financial statements. (The Institute of Chartered Accountants in Australia 2008). They in any lawsuit go on to say how an audit allows assorted user groups to feel to a great extent confident in an entitys financial statements because at that place is re asonable assurance that a true and fair view is present. (The Institute of Chartered Accountants in Australia 2008) yet most users of accounts see things otherwise Others felt that the meeter should non only if interpret an audit sound judgement, but in any case interpret the financial statements in much(prenominal) a manner that the user could evaluate whether to invest in the entity (McEnroe Martens, 2001 347). Looking at things from yet another angle the law also has an opinion on the purpose of auditors and audit reports, in the famous case of Kingston Cotton manufactorys Co. (1896) Lord Justice Lopez stated An auditor is not bound to be a detective, or, as was said to preliminary his work with suspicion, or with a foregone conclusion that there is something wrong. He is a watchdog, not a bloodhound. (Court of Appeal 1896) Basically meaning the audit report can never be guaranteed to develop zero errors. To tell things a just definition that probably would be accep ted by a majority of parties is that the purpose of an external audit report is to let out an opinion as to whether or not the teaching presented in the financial statements reflects the financial position of an organisation at a particular date, thereby providing reasonable assurance of a true and fair view. However assorted users pull up stakes most likely al ship demeanor perceive the purpose reasonably differently to each other, removing the expectations gap is easier said than done. Public accounting professions will fetch to react and evolve fast enough to keep up to pace with the changing business and social environment to completely come about the gap. (Sherer Turley, 1997)How and why the wording in the external audit report has evolved sensation reason as to why the wording of external audit reports evolved was the event that terminology in the reports was not always interpreted the same way, be audit reports are misunderstood by many readers (Bailey, Bylinski Sh ields, 1983 355)(McEnroe Martens, 2001 348)The table in a higher place shows how the phrase present fairly was perceived in different ways not only by investors but also by auditors themselves. Although there were proposals to have this phrase removed from the audit report strong underground from the financial community meant it was never enacted. Terminology being interpreted differently led to an information gap and to counter this as well as enhance overall communication between auditors and financial statement users, the Cohen direction and Treadway commission do many recommendations. One proposal which was successful and farting to a change was the addition of a paragraph explaining the scope of the audit (PCAOB 2011).Another reason for change is the planned global harmonisation of standards. With the ASB and IAASB intend on converging U.S GAAS and the International Standards on auditing there became a sine qua non to provide much eubstance across international borders . (Morris Thomas, 2011) One way to ensure the wording is clearer and easier to understand is the new definitions section, The Definitions section defines any toll or expressions that are being introduced in a standard for the outgrowth time. (Morris Thomas, 2011 2)The wording of the external audit report has evolved because what is being demanded has changed. Users unavoidableness greater clarity along with more(prenominal) transparency because more than ever individuals want a deeper insight in to an audited firms financial statements, which is probably a aftermath of the recent financial crisis which hit the global business world with no clear warnings. (Bussiere Fratzscher 2006) However the difficulty lies in finding cost telling solutions which still enable some form of commonality to maintain consistency internationally.IAASBs proposalsThe IAASB has proposed the inclusion of an Auditor Commentary section. This would befriend users of the statements understand more what exactly the auditor is doing and the processes he carries out to develop an opinion, meaning there whitethorn be a reduction in the expectations gap. However the gossip relies on the auditors judgement on what is most likely to be important, meaning different auditors whitethorn reach different conclusions, which could in turn call for to differences of opinion this may affect the harmonisation of audit reports and comparability. Also the commentary would be provided at the discretion of the auditor, meaning more time and effort would have to go in to each audit but with no special fee, one may question the cost effectiveness. However other entities such as investors may benefit because amplificationd understanding may lead to greater usefulness when it comes to decision making. An alternative could be a linguistic universal section explaining audited financial statements or the audit even though no two audits are exactly alike this approach could still encourage develop b asic understanding and would also ease the auditors tasks. One may expect investors and shareholders would be in favour of the proposal whilst auditors may not be as pleased unless fees also increase proportionally.Another proposal is to assess managements assumptions in a conclusion. A conclusion including the appropriateness of the going concern assumption and whether material uncertainties have been identified may help point out primeval materializations that need to be dealt with, this could in fact prevent future unexpected financial crisis from occurring and may also increase financial statement transparency. However the report should be neither also optimistic or pessimistic. One may also expect a reduction in the information gap. Its fair to say most stakeholders would be in favour of this proposal, apart from managers of course.Also proposed was a statement as to whether any material inconsistencies between the audited financial statements and other information have bee n indentified, this may enhance the report providing a clearer and maybe even a more complete picture of a firm and operations. An issue is that not all future events can be predicted accurately and so a statement about the absence of material uncertainties is not a guarantee, users may misinterpret this which would widen the expectations gap.Prominent placement of the auditors opinion and other entity- particular(prenominal) information along with further suggestions to provide transparency were also proposed. This may help assist when it comes to navigating through complex financial statements and will also help point out specific areas were the auditors effort was focused. A tapered of the information and expectation gap may be the outcome yet one could argue changes to the audit report alone may not be enough and that information outside of statements also has to reform to provide a more meaningful change. A possible alternative could therefrom be to provide authoritative ed ucational material maintained by the IAASB, in a sense helping users navigate through reports more freely although the problem which arises here is a general guide may not be specific enough.Possible future developmentsUsers of financial statements attend to be in agreement that audit reports need to improve and satisfying the fact that the IAASB has sought improvement I am fully supportive of your current initiative (Robert Mednick, 2012), however not all users believe the suggestions made are appropriate we do not agree with the proposals (Roger Harrington, 2012). To summarise some stakeholders believe the proposals given would just lead to a duplication of information provided by managers and that the report would become prone to boilerplate commentary. (WESTWORTH KEMP, 2012) Although they may provide more information to underpin the pass or fail opinion there may be potential for increased audit costs. It may be appropriate to not make some aspects of the improvements mandator y and instead include a voluntary element. Also any going concern commentary should be clear and evident to users so that comments are not interpreted out of context. However a lot of users agreed with the proposed changes and with a fewer minor adjustments believed they would be affective, in general, the suggested improvements are appropriate( ACCA, 2012), so in the go about future one may see the suggestions made put in to effect.ConclusionTo conclude my research suggests that audit reports need to evolve and improve to keep up with the changing business and social environment and the IAASBs proposals are a step in the right direction. Although the suggestions made could have an inverse impact the potential for benefit vastly outweighs this. The proposals target a physique of issues such as transparency and usefulness and have the capability to be operated internationally. However one may be concerned by users interpret comments which would then widen the expectations gap.Wor d count 1541ReferencesJournal ArticleMcEnroe Martens, JEM SCM, 2001. Auditors and Investors Perceptions of the vista Gap. American Accounting Association Accounting Horizons, Vol 15 No. 4 , 345-358.Journal Article with two authorsBussiere Fratzscher, MB MF, 2006. Towards a new early warning system of nancial crises.Journal of International Money and Finance, vol 25 issue 6, 953-973.Journal Article with three or more authorsBailey, Bylinski Shields, KEB, JHB MDS, 1983. Effects of Audit Report Wording Changes on the Perceived Message.Journal of Accounting Research, vol 21 No. 2, 355-370.Electronic Journal ArticleMorris Thomas, JTM CWT, 2011. Clarified Auditing Standards The Quiet rotation Redrafting brings both significant and subtle changes.Journal of accountancy, Online. vol 212 no. 6, 1-5. Available at http//www.journalofaccountancy.com/Issues/2011/Jun/20113792.htm?action=printAccessed 21 December 2012.Book with two authorsSherer Turley, MS ST, 1997.Current Issues in Aud iting. 3rd ed. SAGE.WebsiteACCA. 2012.IFAC. ONLINE Available athttp//www.ifac.org/sites/ default option on/files/publications/exposure-drafts/comments/TECH-CDR-1134.pdf. Accessed 24 December 12.Court of Appeal. 1896.in Re Kingston Cotton Mill Company. ONLINE Available athttps//docs.google.com/viewer?a=vq=cachees7g__ZhMQcJoxcheps.new.ox.ac.uk/new/ standard/cases/Cases%2520Chapter%25203/In%2520Re%2520Kingston%2520Cotton%2520Mill%2520Company.doc+hl=engl=ukpid=blsrcid=ADGEESi-yvPPgWKz2uXlc1x-nczMt8_8SwD5LS3GUKqD91xzDPjpel3Wb3jz5wuRbcvvLuSbU0n-hrVB219b2nbSDucvGe6M1_zbbPDznPNgySGRthAbob0hPvSfUxDOxNyqw7joD4sig=AHIEtbSArCbzy46PFrwiGFwW9sR4r4_q_Q. Accessed 20 December 12.WESTWORTH KEMP. 2012.IFAC. ONLINE Available athttp//www.ifac.org/sites/default/files/publications/exposure-drafts/comments/%20Response%20to%20IASB%20cover%20letter.pdf. Accessed 24 December 12.PCAOB. 2011.Auditors Reporting Model. ONLINE Available athttps//docs.google.com/viewer?a=vq=cachezgMg6vjULngJpcaobus.org/Rules/Rulem aking/Docket034/Concept_Release.pdf+hl=engl=ukpid=blsrcid=ADGEEShbtsssuJKbqau2HByCha6ceGn0TerZkO2rSZIgCwab7oP3VrEKByouZvO5KNp9GelZwSr4yKTLA0ifzzYvyCaUZqC5io_C4hw_kIFbqFRqW0B0-VZD-BRfFPv4BXPWyp30WLq4sig=AHIEtbSRPJv8F4PlAwjESC9_dYMb5zV2hA. Accessed 21 December 12.Robert Mednick. 2012.IFAC. ONLINE Available athttp//www.ifac.org/sites/default/files/publications/exposure-drafts/comments/Bob%20Mendick.pdf. Accessed 24 December 12.Roger Harrington. 2012.IFAC. ONLINE Available athttp//www.ifac.org/sites/default/files/publications/exposure-drafts/comments/IAASB%20auditor%20reporting_BP%20final%20letter.pdf. Accessed 24 December 12.The Institute of Chartered Accountants in Australia. 2008.The role and function of external auditors. ONLINE Available athttps//docs.google.com/viewer?a=vq=cache-a3oYjL5QZMJwww.charteredaccountants.com.au//media/Files/Students/Educators/The%2520role%2520and%2520function%2520of%2520external%2520auditors.ashx+purpose+of+external+audit+reporthl=enpid=blsrcid=ADGEESjNR 071rP0bdpjegrZugcckMQf624dKlOBe-5k2KXxKGtEIrcAzex4Tu9z9SCvvTW940KbpqVjrb5AEk6dCGHv1y5yirgdDrDKbnnP2OSuT3p89CjCFN7TPDlCQuIxIam7VQjCxsig=AHIEtbT1FCvNCrztdhXarps3bxYVpP3b2w. Accessed 19 December 12.

Life and Religion in To Kill a Mockingbird :: essays research papers

In the book To Kill a Mockingbird written by harpist Lee in 1960, life in the town of Maycomb is very traditional. roughly people have the same racial prejudices and live by reliable rules, also referred to as codes by genus genus genus Atticus Finch (p. 224). Aunt Alexandra is a well example as she is not from Maycomb but lives 20 miles away. When she comes to live with Atticus and his children, Jem and sentinel, the town accepts her immediately for with her boarding-school valet de chambreners (p.142), her ladylike behaviour and her enthusiastic social function into the Missionary Circle and the Maycomb Amanuensis Club, she represents the ideal of a Maycomb woman.Although each people in Maycomb are quite different from each other, some of them, especially the more accepted, show respect, discipline and politeness. This can be seen in the Missionary Circle where ladies sit together to talk, drink tea and prey cakes (p. 253-259) and although they might not always agree on e very liaison, they never right off say so. For example when Mrs Merriweather starts to criticise Atticus doing in Tom Robinsons case, at a Missionary Circle in front of Scout - not naming anyone - Ms Maudie interrupts her and cuts off the subject without drawing anybody elses attention to the quarrel.There are not many people in Maycomb who are open-minded and unbidden to accept different people and/or things, which makes it difficult to change. So after loosing the trial, Ms Maudie admits that she did not think Atticus had any chance of winning but that he was the provided man who could keep a jury out that long and that it was a step, if only a baby-step, towards equality (p. 238). Furthermore this intolerance leads to Jem and Scout being confronted with offences against Atticus decisions by town people and fellow students. For one thing Mrs Dubose, an vileness neighbour of the Finchs, criticises Atticus in a way that Jem is not willing to ignore and ends in him cutting down a ll her beloved camellias (p. 112-114). This in turn leads to Jem having to read to Mrs Dubose for more than a month (p. 117-122). For another thing the children at school badmouth Atticus probably with what they overheard their parents saying and this epoch it is Scout who looses her head a couple of times.In a infinitesimal town like Maycomb there is also a lot of dish the dirt and prejudices against lower class people.