The Motorcycle Industry Is A Consolidated Industry Marketing Essay

The Motorcycle Industry Is A Consolidated Industry Marketing Essay Harleys first segment is the motorcycle and related products business. It included designing, manufacturing, and selling primarily heavyweight touring and custom motorcycles and offering a broad range of related products that included motorcycle parts and accessories and riding apparel. The custom products charge a higher price because of its features, styling, and high resale value. New competitors have entered the marketplace because demand for the motorcycles has exceeded production. The demand is prospected to grow in the future, and the switching cost is low. Their customers are mainly male, middle age, married, and have some degree of education. Most buyers hold a motorcycle for recreational purposes rather than for transportation purpose. These buyers are mostly experienced motorcycle riders. Recommendation The international touring market is growing and is significantly larger than the U.S. touring market. Europe has the largest motorcycle, even larger than US. There is high potential in expanding business in Europe. However, the company holds a smaller market shares in the European market. Therefore, continuing to develop the European market should be a major issue for the company over the next few years. The following recommendations could be used in the European market. Not only should they target heavyweight motorcycles market, they can also target sport motorcycles market. The reason is that the European sport/performance market is four times larger than U.S., and is expecting to grow even more in the future. The company could distribute the Buell Motorcycle Companys product to the European market in order to establish a sporty image and able to directly complete with other competitors. Also, the company can build a motorcycle plant in the European by using strategy alliance or joint venture. Building the plant in the European can reduce the transportation cost and increase the companys international experience. Strategy alliances is suitable in this case since the company can create value from transferring competencies or sharing resources between diversified businesses in order to realize economies of scope. Harleys motorcycles are priced slightly higher than competitors. In the U.S. market, since the customers are brand, quality, and style loyalty. Instead of focusing on the price leadership strategy, they should focus on differentiate strategy. Therefore, under the current financial availability, they should be able to generate certain funds to run the Product Development Center, which bring together employees and suppliers to design the fashion products. At the same time, the company should focus on product development and product proliferation strategy. They should concentrate on creating new products or improving existing products in order to attract existing and new customers. The company should continue to build their enterprise. Since the industry does not have significant economies of scale, growth-via-acquisition strategy could be used. Harley-Davidson can merge or acquire weaker rival or smaller players. Taking over the weaker and smaller players will increase the entry barriers. Terms- ideas Competitive advantage is what sets an organization apart, that is, its distinct edge. That distinct edge comes from the organizations core competencies, which might be in the form of organizational capabilities the organization does something that others cannot do or does it better than others can do it. For example, Dell has developed a competitive advantage based upon its ability to create a direct-selling channel thats highly responsive to customers. Southwest Airlines has a competitive advantage because it is skilled in giving passengers what they want quick, convenient, and fun service. Or those core competencies that lead to competitive advantage also can come from organizational assets or resources the organization has something that its competitors do not have. For instance, Wal-Marts state-of-the-art information systems allows it to monitor and control inventories and supplier relations more efficiently than its competitors, which Wal-Mart has turned into a price advantage. Strategy -A Strategy is a long term plan of action designed to achieve a particular goal as differential from tactics or immediate achieve a particular goal, as differential from tactics or immediate action with resources at hand. Strategic Management-It is the process of specifying an organizations objectives, developing policies plans to achieve these objectives, and allocating resources so as to implement the plans. It involves development of mission and strategic vision. It is long run in the nature and provides the organization with a road map Concept of Strategic Management: Strategic Management in the context of the construction industry comprises the following seven areas: Vision, mission and goals -The starting point for all organization endeavors; establishing a vision provides each members with a direction to follow in all business practices members with a direction to follow in all business practices. Core competencies -The Business boundaries for an organization does best and where its strength resides organization do the best and where its strength resides. Knowledge Resources -The Combination of human and technology resources that provide the backbone for completing organization projects. 3. What do I want to do after Graduation?   With todays economy like it is, I have to find ways to stick out from my competitors. Therefore, with a business management degree, also known as a general management degree, I have a lot of different areas I can go into after school. For example, finance, human resources, information technology, marketing, operations management, and strategic management. With this degree I will be prepared to assume a wide range of managerial positions in the business field. But the big question is do I want to start looking for a job, stay in school and change my major or go on to graduate school? But first I have to ask myself what I want to do/ what of my life. The questions I have to ask myself are?   Is there an industry that interests you? For example: Financial services, technology, real-estate, or health care?   What type of company would I like to work for?   Ã‚  Ã‚  Ã‚  Ã‚   For example: Public or private, small or large, domestic or international   Then I need to develop a target list of firms that interest me?   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   For example: Identify and research the top 10 firms that interest me and also areas that they are located.   What type of job motivates me? For example: Do I want to be an accountant, sales person, financial analyst or marketing research associate? What are unique strengths about me? For example: I need to develop a list of the skills I bring to a potential employer such as time management, communication skills, ability to multi-task, listening skills, ability to get things done. Where do I want to live now an in the future?   The actual job search can be time-consuming and frustrating. However, there are steps I can take to insure I spend my time wisely and efficiently. What do I need to know?    What industry is the target company in? How large is the company? Who are their competitors? What type of products does the company produce/provide? Who are the companys customers / prospects? Is the company an employer of choice? What criteria does the company look for when hiring? Are these companies located in your geographic preference? Where do they have offices? (International) What is their reputation in the market?   A company has competitive advantage whenever it can attract customers and defend against competitive forces better than its rivals.   Companies want to develop competitive advantages that have some sustainability (although the typical term sustainable competitive advantage is usually only true dynamically, as a firm works to continue it).   Successful competitive strategies usually involve building uniquely strong or distinctive competencies in one or several areas crucial to success and using them to maintain a competitive edge over rivals.   Some examples of distinctive competencies are superior technology and/or product features, better manufacturing technology and skills, superior sales and distribution capabilities, and better customer service and convenience.   5. A niche strategy can be competitively attractive because     The focusers specialized competencies and capabilities in serving the target market niche give it strength in countering challenges from larger multi-segment competitors (who may not be easily able to put the capabilities in place to meet the specialized needs of the target market niche and at the same time satisfy the expectations of their mainstream customers). Also targeting the market niche acts as an entry barrier and gives it some measure of protection from other firms wanting to horn in on the niche. Rivalry in the niche may be weaker than in the broader market if there are relatively few players competing in the niche. Difficulties in matching the focusers competitive capabilities in serving buyers in the target market niche present a hurdle that the sellers of substitute products must overcome in order to be a factor in the niche. Examples of Focus Strategies   eBay -Online auctions Jiffy Lube International -Maintenance for motor vehicles Bandag-Specialist in truck tire recapping Porsche -Sports cars What Makes a Niche Attractive for Focusing?   Big enough to be profitable and offers good growth potential Not crucial to success of industry leaders Costly or difficult for multi-segment competitors to meet specialized needs of niche members Focuser has resources and capabilities to effectively serve an attractive niche Few other rivals are specializing in same niche Focuser can defend against challengers via superior ability to serve niche members Risks of a Focus Strategy    Competitors find effective ways to match a focusers capabilities in serving niche Niche buyers preferences shift towards product attributes desired by majority of buyers niche becomes part of overall market Segment becomes so attractive it becomes crowded with rivals, causing segment profits to be splintered 6. The car industry is an ongoing growing market where the environmental issues become more and more crucial due to the apparition of new legislations to preserve nature and avoid Global Warming. Therefore, in this case more precisely work with the niche market of electric vehicles. Actually, carmakers have to face the problem of excess capacity. They are producing more than they are selling. One of the reasons can be the decreasing demand due to the economical regression and also to the fact that cars last longer. Another reason is that they want to produce in large volumes in order to make the production cost decreased. So, they can be competitive on the market. Now, scale economies are a critical issue for car manufacturers. The concerns for the economy and global warming have forced the automobile industry to start developing alternatives for fuel vehicles. At first, the automakers showed a little interest into this concern and they did not want to look into the development of alternative energy sources at all because of the high cost and the many risks involved. Nevertheless, due to new legislations, automakers do not have the choice anymore. They have to come up with new technologies to make fuel-efficient cars or find alternative to normal fuel engines. At the end of the 20th century, car manufacturers came up with new technology to produce internal combustion engines with an electric motor and the development is ongoing. In todays society people are judged on the type of car they choose to drive. Of course, car manufacturers know about that fact and they target their potential customers to market their products. For example, anyone who drives a nice car is perceived by others as being wealthy and no one wants to be seen driving an unattractive car. Consumers also tend to feel better when they are driving a nice or a new car. Another feature of the socio cultural aspect for car is that auto makers have to keep in mind the growing environmental concerns and the need of fuel efficient vehicles. Many environmentalists are worried about the impact that the gasoline cars have on the environment and therefore search for alternatives. The automotive market is characterized by a very low number of entrants. In order to compete in this market the newcomers must be able to achieve economies of scale by adopting a cost saving strategy. Therefore, the car manufacturers must mass-produce to be able to offer cars to the customer at a reasonable price. At the same time, it requires an extreme amount of capital not only to be able to manufacturer the product, but also to keep up with the research and development of new products. 8. There is a HUGE market for tablets.   Many have said this is like a living room computer, as well, as an e-book reader.   It would also be a great entertainment device, on airplanes (if were allowed to use them), on the bus, and around town. Also the iPad will be ideal for bringing to meetings without the intrusion, distraction, boot up or power cables of a laptop. In the future the laptop will be staying in the office. The people that will benefit from this product a lot are doctors and also nurses. I think when the iPad launches it will be a big competitive advantage to the company because of what they have done in the past. Honestly, the iPad, will give Apple more power in the companys product line and also move the company forward toward being the spoke in the wheel that is the world of media and technology. Making something that fits between a smartphone and a laptop has been a goal for the consumer technology industry for more than a decade. The most recent attempt has b een the Netbook. The iPad easily makes Netbooks seem boring and staid, and too close to the same old form factor, the computer. My prediction is that the iPad will really shake up the competitors and really hurt their netbook business in the long run. And, the competitors will really struggle this time to find a way to create tablets that are equally as unique and competitive with Apple. Sure, they will create similar designs, but Apples ability to deliver a complete eco system of hardware, software, apps and services tied to the iPad is their real advantage. And with iPads starting at $499, it will make it much easier for Apple to push a new mobile computing agenda that goes well beyond the interest of techies and will tap into the mobile computing interest of a large market of consumers.The iPad is taking a different tack: taking tasks that were too big for an iPhone and puts them on a device that isnt pocket-sized, but is more convenient to carry around than a 13- or 15-inch lapt op. The iPad poses a real problem to competitors on a couple of fronts. The big one is the fact that Apple uses their own processor to power the iPad. No Intel tax in the bill of materials. I suspect that even with bill of material costs for screen and memory being an issue, Apple is still able to get margins of over 20% for the entry version at $499 because of this vertical integration of Apple internet protocol.   On the other hand, any competitor doing a tablet will have the screen and memory component costs as well as the processor costs and at a competitive price of $499, they would have much smaller margins to work with. Also, Apple is able to tap into its rich eco system of easy to use multi-touch interface and 140,000 apps that give it additional functionality from the start. At the very least, it puts them two years ahead of competitors who will try and create competitive products in this same category with similar app ecosystems. The economy -rich peo young class Apple has created a new market, everyone will soon try to follow. 2. A business has to understand the dynamics of its industries and markets in order to compete effectively in the marketplace. The forces that drive competition, is contending that the competitive environment is created by the interaction of five different forces acting on a business. In addition to rivalry among existing firms and the threat of new entrants into the market, there are also the forces of supplier power, the power of the buyers, and the threat of substitute products or services. The intensity of rivalry, which is the most obvious of the five forces in an industry, helps determine the extent to which the value created by an industry will be dissipated through head-to-head competition. Another point is both potential and existing competitors influence average industry profitability. The threat of new entrants is usually based on the market entry barriers. They can take diverse forms and are used to prevent an influx of firms into an industry whenever profits, adjusted for the cost of capital, rise above zero. In contrast, entry barriers exist whenever it is difficult or not economically feasible for an outsider to replicate the incumbents position. The most common forms of entry barriers, except intrinsic physical or legal obstacles, are as follows: Economies of scale: for example, benefits associated with bulk purchasing. Cost of entry: for example, investment into technology. Distribution channels: for example, ease of access for competitors. Cost advantages not related to the size of the company: for example, contacts and expertise. Government legislations: for example, introduction of new laws might weaken companys competitive position. Differentiation: for example, certain brand that cannot be copied. The threat that substitute products pose to an industrys profitability depends on the relative price-to-performance ratios of the different types of products or services to which customers can turn to satisfy the same basic need. The threat of substitution is also affected by switching costs that is, the costs in areas such as retraining, retooling and redesigning that are incurred when a customer switches to a different type of product or service. Buyer power is one of the two horizontal forces that influence the appropriation of the value created by an industry (refer to the diagram). The most important determinants of buyer power are the size and the concentration of customers. Other factors are the extent to which the buyers are informed and the concentration or differentiation of the competitors. This force is relatively high where there a few, large players in the market, as it is the case with retailers and grocery stores; Present where there is a large number of undifferentiated, small suppliers, such as small farming businesses supplying large grocery companies; Low cost of switching between suppliers, such as from one fleet supplier of trucks to another. Supplier power is a mirror image of the buyer power. As a result, the analysis of supplier power typically focuses first on the relative size and concentration of suppliers relative to industry participants and second on the degree of differentiation in the inputs supplied. The ability to charge customers different prices in line with differences in the value created for each of those buyers usually indicates that the market is characterized by high supplier power and at the same time by low buyer power. Bargaining power of suppliers exists in the following situations: Where the switching costs are high (switching from one Internet provider to another); High power of brands (McDonalds, Coca Cola) Possibility of forward integration of suppliers (Brewers buying bars); The nature of competition in an industry is strongly affected by suggested five forces. The stronger the power of buyers and suppliers, and the stronger the threats of entry and substitution, the more intense competition is likely to be within the industry. However, these five factors are not the only ones that determine how firms in an industry will compete the structure of the industry itself may play an important role. 5 Forces analysis The Porters Five Forces model is a simple tool that supports strategic understanding where power lies in a business situation. It also helps to understand both the strength of a firms current competitive position, and the strength of a position a company is looking to move into. Despite the fact that the Five Force framework focuses on business concerns rather than public policy, it also emphasizes extended competition for value rather than just competition among existing rivals, and the simpleness of its application inspired numerous companies as well as business schools to adopt its use. With a clear understanding of where power lies, it will enable a company to take fair advantage of its strengths, improve weaknesses, and avoid taking wrong steps. Therefore, to apply this planning tool effectively, it is important to understand the situation and to look at each of the forces individually. After identifying favourable and unfavourable forces for the companys performance and industrys attractiveness, it is important to analyse the situation and examine the impacts of the forces. One of the critical comments made of the Five Forces framework is its static nature, whereas the competitive environment is changing turbulently. By thinking through how each force affects a company, and by identifying the strength and direction of each force, it provides with an opportunity to identify the strength of the position and the ability to make a sustained profit in the industry. It is important for a corporation strategists goal to find a position in the industry where his or her company can best defend itself against these forces or can influence them in its favour, or is the goal to become part of the ongoing commerce with the intention to produce innovative ideas that will expand the size of the industry? Is it true that the environment poses a threat to the organisation, leading to the consideration of suppliers and buyers as threats that need to be tackled, or does it offer the ground for a constitutive industry player co-operation? Limitations of Porters Five Force Model Porters model is a strategic tool used to identify whether new products, services or businesses have the potential to be profitable. However it can also be very illuminating when used to understand the balance of power in other situations. At the heart of industry are rivals and their competitive strategies linked to, for example, pricing or advertising; but, he contends, it is important to look beyond ones immediate competitors as there are other determines of profitability. Specifically, there might be competition from substitutes products or services. These alternatives may be perceived as substitutes by buyers even though they are part of a different industry. An example would be plastic bottles, cans and glass bottle for packaging soft drinks. There may also be potential threat of new entrants, although some competitors will see this as an opportunity to strengthen their position in the market by ensuring, as far as they can, customer loyalty. Finally, it is important to appreciate that companies purchase from suppliers and sell to buyers. If they are powerful they are in a position to bargain profits away through reduced margins, by forcing either cost increases or price decreases. This relates to the strategic o ption of vertical integration, when the company acquires, or mergers with, a supplier or customer and thereby gains greater control over the chain of activities which leads from basic materials through to final consumption. Examples of Golf Equipment 1. The threat of new entrants into the market is moderate, indicators point in mixed directions. Companies within the industry can be separated into two parts: golf and sporting goods. To take the largest golf company, for example, Callaway. For a company like Callaway to enter into this market would require significant amounts of investment. One could assume that other sporting goods companies could diversify into golf similar to Adidas and Nike, but there are no large manufactures that are not in the market already. Brand preferences are very important to consumers. Callaway lists brand preferences as one of the top five reasons why consumers buy their clubs, is because of technology, quality, customer service and price. Capital requirements are low the production of clubs are very labor intensive and very little animation is in the manufacturing process. Access to distribution channels are very important the quality of the club which is largely based on the material of the club ar e very expensive. To obtain carbon fiber and specific alloys that few manufactures make would be troubling for a small company to maintain and economies of scale in purchasing power would be most evident here. Essay

Appendix a – Meditation Worksheet

Appendix A – Meditation Worksheet Veronica P. Sally-Garner PSY/211 ESSENTIALS OF PSYCHOLOGY Thursday, October 20, 2011 Instructor: Terry Browning Appendix A Meditation Worksheet Directions: Locate two resources on the Internet that explain meditation techniques. Copy and paste the web address into the top of the matrix. After reviewing the website, provide a brief summary for each source. Below your summary, list two interesting facts you learned from each site. Try the techniques you located in your Internet search. Provide a brief description of what happened in your experience. Be sure to answer the two questions below the matrix also. Web Address (URL):| http://bestmeditationtechniques. org/the-basics-of-meditation| http://www. mum. edu/meditation. html? gclid=CKOsutyS-KsCFQ1U7Aod9HlUKw| Summary of resource:| Things happen so quickly in this fast-paced world. Decisions are made without thought. This could cause stress to build and affect the way people deal with life. Everyone needs to stop and take a few minutes to calm down. So if life is stressing you out, it’s time to slow down. Meditation can help relieve stress and worries. The practice of meditation is a way to be still for a while and let our minds become focused until we become calm enough to deal with the daily pressures of life. | Mediation can mean different things to different people. Mediation can be defined in three main types: focused attention- concentration, open monitoring-contemplation, and automatic self-transcending – the Transcendental Mediation Program. Transcendental Meditation also known as TM. TM is the most widely practiced, most researched, and most effective method of self-development mediation technique. Two interestingFacts: | 1. Meditation can improve Concentration. Two commonly used exercises are: Mantra – a phrase or a sound that is recited repeatedlyBreathing – achieved by inhaling through the nose, letting the diaphragm (not the chest) expand and exhaling through the mouth 2. Breathing is an integral part of meditation. Proper breathing is required in many practices of meditation and is therefore an im portant tool to be possessed by people who wish to mediate. The practice of proper breathing while meditating slows down a person’s heart rate which leads to a relaxed mood. While this may sound easy, it can be quite challenging when done for the first time. | 1. Transcendental Meditation is the most popular technique. It is practiced by people of all ages, cultures, and religions. More than five million people worldwide practice this simple, natural technique. 2. People who practice Transcendental Meditation find themselves more alert, calmer, more energetic, dynamic, yet somehow wiser, as if you have a broader perspective on their daily activities and experiences. | What happened after you tried each technique? | After trying each technique one should feel relaxed and a sense of heighten awareness. Meditation helps the mind become less distracted. | After trying Transcendental Meditation one should have more confidence and higher self esteem. | 1. Do you think meditation leads to heightened sensation and perception? Explain why or why not. ————————————————- Mediation can lead to heightened sensation and perception. Each is different but ————————————————- complements each other. Sensation is the process by which we sense through touch, smell, ————————————————- sight, taste and smell. Perception is our way of interpreting what these sensations mean and ————————————————- how to make sense of it. 2. Have you considered integrating meditation into your own lifestyle? If so, list one strategy for fitting meditation into your schedule. If not, explain why. ————————————————- I have integrated meditation into my personal lifestyle with physical exercise. Physical ————————————————- exercise promotes overall fitness, helps manage emotional stress and relieves tension.

Henry David Thoreau and His Contribution to Transcendentalism Essay

Henry David Thoreau, a French descendant, was born in 1817 in Concord, Massachusetts; a graduate of Harvard College with no literary distinction. Throughout his life he executed a very strong Saxon genius, as his ancestors had been known. As an ordinary young man, he began to work for a living. After his graduation, he joined his brother in teaching in a private school, which he stayed for a while. He later left to enter into manufacturing work – making a different and better pencil. He was successful in his business but refused doing the same thing. He went back to school to teach and deliver lectures; became a private tutor to children of prominent families. He got employment, yet his life seemed no meaning for he thought of doing what he is called for. Only by then he will find meaning in his existence. For his friends, he was full of courage, had good cheer and deep affection for his family. His love for a simple living moved him to devote most of his writing about natural surroundings and natural history. His natural inclination in philosophic views made him wrote, which as young Henry, displayed independent thoughts that caught Mr.  Ralph Waldo Emerson’s interest about the boy. A good friendship actually started there between Mr. Emerson and Henry Thoreau, which despite age difference and of temperamental impediments found deep and lasting friendship. Thoreau worked for the family as tutor for Emerson kids. From Thoreau’s friendship with Mr. Emerson his ideology and inclination to the philosophy of transcendentalism began. As Ian Ward stated, â€Å"The interest in transcendentalism that Thoreau shared with his sometime mentor, Ralph Waldo Emerson, was born of this gestation, as was the comparable rejection of ideology which underpinned this new intellectual divinity.† Henry David Thoreau and Transcendentalism Transcendentalism as a movement began as a radical religious movement, which is opposed to conservative institution, though the philosophical concept was developed by Plato. Historically, transcendentalism according to Peter Carafiol, â€Å"is an intellectual property growing out of Kant and mediated by English and German Romanticism. † Formerly, it was dissatisfaction with Unitarianism with congregationalism and Protestantism, and with Catholicism, as the Carafiol said. For the Americans, transcendentalism frustrates the desire for definition by leaving out so many out of the problems scholars have raised about it. It involves an interpretation rather than exposition. It is a mental and a spiritual attitude sought to find the source of all truth within the nature of man. It is actually in the sphere of religion; the narrower sense of Unitarianism of religion. Thoreau gave a new outlook for transcendentalism since he is inclined to nature and surroundings. He was by character a scientist, which was evident in his writings and works. And his growing idea of transcendentalism was often inclined with science, which was opposed to the belief of others that identified Thoreau in the line of the scientists while others recognized him as a philosopher. Alfred I. Tauber, stated that, â€Å"he put himself at odds both with the idealist moralizing philosophy of Emersonian Transcendentalism and with ascendant professionalized positivistic science which divorced nature from the knowing subject.† Indeed, he was able to draw unity to different engagement to intellectual inquiry that he had, and despite competing interests, as Tauber further stated, â€Å"Thoreau was able to follow his own path in studying nature, guided by the same fierce independence that marked both his experimentation in personal economy and his political advocacy† through which, the term transcendentalism has been applied to science known as the doctrine of metaphysical idealism. At this crossroads of Thoreau’s life emerged his contribution in Transcendentalism and the view about metaphysical idealism. Thoreau’s Contribution to Transcendentalism (development in Henry’s life) Thoreau had lived a normal life just like anybody else that observed and experienced negative sides of life. However, upon his realization, he chose to reside in a house in the woods alone for sometime. During his life, he made some contribution to the American transcendentalism. Remarkably, Thoreau’s writings from letters to books contributed to the spread of Transcendentalism during his period. It made a significant effect on many campaign against social unrest and to the development of the concept of the philosophy. Thoreau’s writings would actually tour the reader about his life and his contribution to the movement. The following are some of the contributions that attributed to the development in his life. Manhood and Race Henry David Thoreau as a young boy was often working with his mother at the farm grazing pastures. From this experience, he drew his love for solitude and communion with nature. Already associated with Emerson, he moved and lived in a small house alongside the northern shore of Walden Pond where he spent his life cultivating beans and other vegetables and taking care of animals. His many desperations and desperation that he had seen around developed in him representative isolation. He had seen slaves, laboring men; men out of desperation had to work continuously for economy. So, he conceptualized these figures in general which means, it is worldwide phenomena that â€Å"men labor under mistakes,† that men labor for others while â€Å"other men were captive to their enterprise.† This scenario had been recorded in his book â€Å"Slavery in Massachusetts† in which he made arguments about the complex contradiction between rich and poor and in the end he thought both slaves in their own way. At this point, he made his way to clearly redeem and redefine manhood. Manhood during his period he saw men in order to follow the trend had to compete against each other and to enjoy inequality in the world of capitalism and dissonance. On the other hand, transcendentalists view each person as infinite with emotion, intellect, creative, dynamic, subjective, imaginative, and visionary. This means equality of rights and enjoyment of the blessings of God on earth. Thoreau experienced living alone in the woods just to realize how to live truly free and uncommitted to establish an original relationship with nature. There, he raised his own food, observed nature, and explored his inner self. In his book Walden, it is stated: â€Å"God himself culminates in the present moment†¦And we are enabled to apprehend at all what is sublime and noble only by the perpetual instilling and drenching of the reality that surrounds us.† His Civil Disobedience July 1846 when Thoreau decided to go to town for a shoe repair, when he was arrested for not paying tax. As early as 1842 Thoreau refused from paying tax. In his statement he said, â€Å"I did not see why the schoolmaster should be taxed to support the priest and not the priest the schoolmaster†¦Ã¢â‚¬  Though, he was seen as a rebel for his refusal of paying his tax, yet for his contemporaries, it was a display of non-compromise, which is a sign of principle. Because the underlying question in this action was â€Å"how are to respond to injury and evil? † Thoreau in his book â€Å"Civil Resistance† evoked the existing positive meanings of resistance; for him, it does mean, in Ballou’s phrase, â€Å"resistance of injury with injury† In other’s opinion, his philosophy of non-violent reaction is avoidance of involving politics in the issue. His is enlightened liberalism- a close-minded and concerned with the individual conscience and not collective action. As it is said, â€Å"Thoreau’s civil disobedience is the choice he makes when he has no choice but to act. † Thoreau’s Last Event in His Life Throughout his lifetime, he devoted his time searching for natural philosophy and science. His book Walden had the details of natural facts that believed to be the foundation for his transcendental flights. His purpose is to integrate or use Science to support his idea of the philosophy. As a young boy, he used to recreate something for a change, for he saw beauty beyond something like changing the water wheel. His life in the farm gave a lot of realization in life. The beauty that he saw being a sensitive observer found meaning and significance to every angle and function of the world. At this point would enter spiritualized self that communes into that microcosm. During his latter year, he became more systematic in his intellectual reorientation of factual details of his natural surroundings. He already developed mastery of a complex symbolic of visionary insights. As David Robinson tried to emphasized, â€Å"Thoreau’s immersion in scientific study and his contribution to the science of his day must be emphasized, so must his ambivalence about this work, and his insistence that it has been within a larger framework of philosophical inquiry† After sometime in the Walden Pond, he decided to leave for he realized that he still had several more years to live. For him, it is a â€Å"necessary and positive gestures, the signs of an essential stance of openness to new experience. † Thoreau’s life at the Walden Pond provided him the most productive period of his literary life. While his new life outside the farm fulfilled his emotional need for companion. He continued living and died at age forty four due to tuberculosis in 1862. Conclusion Thoreau was just one of the many contributors of the modern transcendentalism but his ideology is closely associated with living simply in nature. His life experiences contributed to his ideology that made him preferred to live independently and alone for two years at the Walden Pond. Throughout his life, he devoted his time earning for a living and writing books, letters, poem, and stories that became a great source of knowledge about his view of transcendentalism. In the process, Thoreau’s life and writings had been an instrument in the institution of some movements. For instance, since his ideology is associated with the masses or for the poor, it served an inspiration for political changed of socialist counties. There is a spiritual and social implication to that ideology; that countries like Bulgaria could relate to that especially his Civil Disobedience book. However, we could say that Thoreau’s approach is more on individual communion with God and nature for self-contentment.

Financial Institutions in India - Free Essay Example

Sample details Pages: 7 Words: 2167 Downloads: 7 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? Financial sector plays an indispensable role in the overall development of a country. The most important constituent of this sector is the financial institutions, which act as a conduit for the transfer of resources from net savers to net borrowers, that is, from those who spend less than their earnings to those who spend more than their earnings. Ok, now before continuing to explain the role of financial institutions in the development of industries, lets take a little bit brief detail of financial institutions in Indian context. Financial Institution: Financial Institution is not a new concept in financial history. The evolution of financial institutions must be differentiated from economic history and history of money. In Europe, it may have started with the first commodity exchange, the Bruges Bourse in 1309 and the first financiers and banks in the 1400-1600s in central and Western Europe. The first global financiers the Fuggers (1487) in Germany; the first stock company in England (Russia Company 1553); the first foreign exchange market; the first stock exchange. In financial economics, a financial institution is an institution that provides financial services for its clients or members. Probably the most important financial service provided by financial institutions is acting as financial intermediaries. Most financial institutions are highly regulated by government bodies. Broadly speaking, there are three major types of financial institution. Don’t waste time! Our writers will create an original "Financial Institutions in India" essay for you Create order Deposit-taking institutions that accept and manage deposits and make loans; Insurance companies and pension funds; Brokers, Underwriters and investment funds Functions of financial institutions: Why these institutions exit. Or simply saying, what are the basic functions of these financial institutions.? To know the role of these institutions, lets discuss its main functions that they provide. As we have already discussed that, there are numbers of financial institutions in financial market like banks, credit unions, asset management pension providing institutions, risk management institutions, which serve some purposes as follows: Accepting Deposits Providing Commercial Loans Providing Real Estate Loans Providing Mortgage Loans Issuing Share Certificates At the same time, there are several governmental financial institutions assigned with regulatory and supervisory functions. These institutions have played a distinct role in fulfilling the financial and management needs of different industries, and have also shaped the national economic scene. Here is the list of various financial institutions. Maharashtra State Financial Corporation The State Industrial and Investment Corporation of Maharashtra Ltd The Public/National Financial institutions All nationalized banks All scheduled banks All co-operative banks Regional Development corporations Housing Development Finance Corporation Export-Import bank of India So these are the various financial institutions existing in India. All have their own contribution in development of economy of India if we talk about that. Lets talk about State Bank of India (SBI). State Bank Of India: SBI (State Bank Of India) is the largest bank of India. It is considered as 29th most reputable company in the world according to Forbes. It is one of big four banks of India with ICICI bank, Axis bank and HDFC Bank. State Bank of India (SBI) was nationalized in July 1955 under the SBI Act of 1955. Seven banks of SBI formed subsidiary and was nationalized on 19th July, 1960. The State Bank of India is Indias largest commercial bank, as already said above. It serves 90 million customers through a network of 9,000 branches. It has largest ATM network all over India. There are six associate banks that fall under SBI, and together these six banks constitute the State Bank Group. All use the same logo of a blue keyhole and all the associates use the State Bank of name followed by the regional headquarters name. SBI Bank India has 52 Foreign Offices in 34 countries. SBI India serves the international needs of its foreign customers, in addition to conducting retail operations. Th e focus of the offices of SBI is India-related business. Few of the countries where SBI Bank has branches are as under: Australia Bahamas Bahrain Bangladesh Belgium Bhutan Canada France Germany And also other than these are USA, UK, South Africa and Sri Lanka. Functions of SBI: What are major functions of State Bank of India that are served? Lets try to find answer of that question then we will continue to discuss about its contribution to industrial development of India. As it comes under the category of Public/Nationalized banks, so it has directly link with public and other banks too. The State bank of India acts as an agent of the Reserve Bank of India and performs the following functions: It borrows money from the public by accepting deposits such as current account deposits, fixed deposits and saving deposits. It lends money to merchants and manufacturers for short periods. It also lends to farmers and co-operative institutions. It acts actually as the bankers bank. In discharging this responsibility, the bank provides loans to commercial bank when required and also re-discount their bill. It also acts as the clearing house of the commercial bank. State Bank of India also acts as an agent of Reserve bank of India. As an agent, the State bank of India maintains the treasuries of the State Government. It also performs various subsidiary services also. It collects checks, drafts, bills of exchange, dividends interest, salaries and pensions on behalf of its customers. So these are some of the functions that are performed by SBI. Contribution toward Industrial Development: Coming to major purpose of out term paper assignment, lets discuss about contribution to development of Indian Industries. As we know, financial institutions deal with various financial activities associated with bonds, debentures, stocks, loans, risk diversification, insurance, hedging, retirement planning, investment, portfolio management, and many other types of related functions. With the help of their functions, the financial institutions transfer money or funds to various tiers of economy and thus play a significant role in acting upon the domestic and the international economic scenario. The functions of financial institutions, such as stock exchanges, commodity markets, futures, currency, and options exchanges are very important for the economy. These institutions are involved in creating and providing ownership for financial claims. These institutions are also responsible for maintaining liquidity in the market and managing price change risks. As part of their variou s services, these institutions provide investment opportunities and help businesses to generate funds for various purposes. If we talk about SBI, the State Bank began an era of expansion, acting as a motor for Indias industrial and agricultural development that was to transform it into one of the worlds largest financial networks. Indeed, by the early 1990s, the State Bank counted nearly 15,000 branches and offices throughout India, giving it the worlds single largest branch network. Industrialization and Financial Institution: As we know that industrialization is the most important method by which any country can make its growth rapid and reliable. In the long-run it is regarded as the means to full employment, high productivity and better living standards. It is also the only way through which other objectives of national economic policy like removal of poverty, balanced regional development and national defense can be effectively realized. In India, at present, we have a fairly well-developed framework to cater to the financial requirements of the industrial sector, specifically of medium and long term finances. With a variegated structure, the financial institutions have played a signified part in the industrial development via investment market and have emerged as backbone of the financial system. State Bank of India has also contributed more in the development of industrial sector of India. Its roles fall in two categories: Qualitative Quantitative State Bank of India for carrying out its business operations, financial institutions implement different types of economic models. It like other financial institutions assists their clients and investors to maximize its profits by rendering appropriate guidance. This financial institution also imparts a wide range of educational programs to educate the investors on the fundamentals of investment and also regarding the valuation of stock, bonds, assets, foreign exchanges, and commodities. Since 1973, bank is actively involved in non-profit activity called Community Services banking. In the words of chairman of SBI, business is more than banking because by this we can touch the lives of people anywhere in many ways. At a macro level, SBI would likely be a key beneficiary of the economy returning back to a potential growth path through rising demand for loans as the economy rebounds to higher activity levels. Further, SBI could raise its productivity in the long run through p otential mergers with its subsidiary banks and through revenue/cost synergies. With this, the number of SBI associates would come down to five. Further with a continued rebound in capital market activity and the life insurance and AMC, the business is picking up steam. Whatever the case, it is evidently clear that though the stock is looking a little expensive today, it is and will remain a blue-chip till the India story hold good. If the economy is back on the fast track, the banking system will have to show a robust growth led by none other than this banking behemoth. As there is linear relationship between economic growth and financial institutions, without financial institutions interference, any country cannot imagine growth of its economy. Financial institutions not only help industries by providing direct loans and subsidies to them but also providing finance education and skills indirectly. Since liberalization, the government has approved significant banking ref orms. While some of these relate to nationalized banks like encouraging mergers, reducing government interference and increasing profitability and competitiveness, other reforms have opened up the banking and insurance sectors to private and foreign players. Currently, in 2007, banking in India is generally mature in terms of supply, product range and reach-even, though reach in rural India still remains a challenge for the private sector and foreign banks. In terms of quality of assets and capital adequacy, Indian banks are considered to have clean, strong and transparent balance sheets relative to other banks in comparable economies of Asia. The Reserve Bank of India is an autonomous body, with minimal pressure from the government. The stated policy of the Bank on the Indian Rupee is to manage volatility but without any fixed exchange rate. Currently, India has 88 scheduled commercial banks (SCBs) — 28 public sector banks (that is with the Government of India holding a stake), 29 private banks, these do not have government stake; they may be publicly listed and traded on stock exchanges, and 31 foreign banks. They have a combined network of over 53,000 branches and 17,000 ATMs. The public sector banks hold over 75% of total assets of the banking industry, with the private and foreign banks holding 18.2% and 6.5% respectively. And if we talk about SBI, it has largest ATM network all over India. SBI is a commercial bank. Commercial banks play an important role in economic development of developing country. Economic development involves investment in various sectors of economy. The banks collect savings from the people and mobilize saving for investment in industrial project. The investors borrow from banks to finance the projects. Promote the growth rate through the reorientation of loan policy. Special funds are provided to the investors for the completion of projects. The banks provide a guarantee for industrial loan from international agenci es. The foreign capital flows to developing countries for investment in projects. Besides normal banking the banks perform agency services for the client. The banks buy and sell securities, make rent payments, receive subscription funds and collect utility bills for the Government departments. Thus these banks save time and energy of busy peoples. Banks arrange foreign exchange for the business transaction with other countries. The facility of foreign currency account has resulted in an increase of foreign exchange reserves. By opening a letter of credit the banks promote foreign trade. The banks are not simply collecting funds but also serve as a guide to the customer investment of their funds. The policy of banks is an instrument in wide dispersal of credit in country. It is said that if the banking system in a country is effective, efficient and disciplined, it brings about a rapid growth in the various sectors of the economy. Conclusion: After a deep study about the role of State Bank of India in the development of industrial sector, we arrive at the conclusion that without the financial assistance, the industrial sector cannot seek growth and this financial assistance can only be provided by banking sector, and major contribution to this is by commercial banks. State Bank India generally acts as a development bank and provides short and long term loans to entrepreneurs to invest in new enterprises and adopt new methods of production. As soon as the SBI has caught growth, there has been noticeable growth in trade and industry. BIBLIOGRAPHY www.stockmarketsreview.com//state_bank_of_india_outperforming_itself_20091028_1000070/ https://en.wikipedia.org/wiki/Economy_of_India https://en.wikipedia.org/wiki/India www.statebankofindia.com/ https://www.slideshare.net/Mustafaseady/role-of-commercial-banks-in-the-economic-development-of-a-country www.blurtit.com/q212234.html www.akdn.org/india_economic.asp https://finance.indiamart.com/in_india/state_bank_india.html www.iimcal.ac.in/community/consclub/ppts/bankingAndFinance.pp