Business Information System Of Multimedia - Myassignmenthelp.Com

Question: Talk about the Business Information System Of Multimedia. Answer: Presentation Brilliant TV is a half and half TV that is incorporated with a customary TV with a web association. This intelligent mixed media set has highlights of Web 2.0 and it tends to be depicted as intermingling among PCs and level screen TV. Savvy TV has TV highlights with set top boxes alongside extra highlights of intuitive media, web and OTT (Over-the-top substance) (Lee et al. 2013). Keen TV gives the highlights of home systems administration access and gushing media. Savvy gives the additional advantage that it has no conventional remote as it very well may be associated with a tablet or portable application. Through versatile, TV's sound, channel, menus can be changed. Brilliant TV accompanies applications where clients can watch recordings, stream films and web based life arrange. Shrewd TV is light in weight and it can without much of a stretch be introduced on the divider. This report will feature the upper hand of Smart TV just as the security issues in regards to this. Watchmen serious powers and conventional techniques Watchmen five powers In the Smart TV showcase, three significant players are Lenovo, Dell and HP as these three take up practically half piece of the overall industry. Bartering influence of clients: In Smart TV showcase, the dealing influence of the clients' is low as in getting the new innovation; clients are happy to pay additional cash. Be that as it may, in the event that different organizations offer assistance quality, additional highlights on a similar cost, at that point clients' capacity can increment. Dealing intensity of providers: in the event that the producers of Smart TV don't fabricate the materials, they have to take help of providers from Asia Pacific nations like China, Taiwan and Japan (Shin et al. 2014). These providers don't drive up the costs of the items, subsequently this power is moderate. The danger of new contestants: Barriers of another section in the market is high as new electronic organizations are entering the market of home diversion adornments. The new innovation is continually refreshing the Smart TV and if there should be an occurrence of significant changes in innovation, another section can increment in the market. Adversaries: Market contention is high as the contenders can be Lenovo, Asus, HP, Dell, Samsung and others. Substitutes: Substitutes powers are high as different organizations are doing consistent exploration to enter the market with new innovation and items. Clients can supplant Smart TV with some new innovation. In the event that, the client can't buy Smart TV, they can buy comparable results of PC, PC or PC. Doormen conventional methodologies An organization's productivity relies upon the business' other significant players choice. Conventional techniques are significant for company's economical upper hand. There are two sorts of procedures that a firm can take, for example, minimal effort technique and separation system. Cost authority: Manufacturers of Smart TV can make the items in huge amount as this technique will assist with bringing down the cost. The firm can take the normal cost, if Smart TV as of now exists so as to accumulate more benefit. On the off chance that. The producer of Smart TV needs piece of the pie, they can take the system of low-valuing (least overall revenue). In the event that the market is full grown, the cost of the item would decrease. Cost initiative procedure has quality in getting to the capital interest in an industry as creation resources. Productive assembling of Smart TV with including extra highlights can bring piece of the pie. Also, an association can give Smart TV in an affordable manner that empowers the firm to be beneficial in since quite a while ago run. Separation: As expressed by Addo et al. (2014), the associations attempt to be remarkable results includes that would be esteemed by the clients. In Smart TV, the associations can concentrate on highlights, quality, structures and innovations; in any case, the cost isn't a factor in this situation. Faithful clients can follow through on a significant expense if the item is premium quality. Picking best applications for savvy TVs For purchasing a Smart TV, clients can concentrate on the image nature of the Smart TV, big screen and applications highlights. A portion of the makers of Smart TV give empowered keen applications and clients can download others in the event that they need through the web. So as to purchase a Smart TV, just disregard the a large portion of the details in the end help the clients and greater screen (best picture quality) is best for Smart TV as it bolsters the vast majority of the applications. Presently TVs are accompanying HDR quality with 4K goals. Additionally, UHD (Ultra High Definition) Smart TVs give more pixels that pull in the clients (Sicari et al. 2015). In getting to the applications, producers must discharge it on Google Play or iTunes. Television designer must have this application which one finding by clients. Clients can discover the applications on Google store and they can introduce these on TV. The absolute best applications are iPlayer, All 4, VUDU, HBO Go, Spotify and You Tube. Conversation in regards to protection of Smart TVs The vast majority of the Smart TV designers worries about the protection highlights of Smart TV as a large portion of Smart TV have new innovations which are not made sure about. Savvy TV can record the information and transmit to the outsider. The outsider can create the history and information of the clients. In such manner, Samsung Smart TV accompanies new voice acknowledgment innovation that gathers the data from the clients and sends to the outsider. As expressed by Lee et al. (2014), advanced spying is the new idea that emerges with the new Smart TV innovations. Samsung's voice orders are transmitting to the outsider and it disrupts the guideline of the worldwide protection strategy. Also, designers are attempting to refresh the firmware in halting the information move to the outsider. Security issues in Smart TV and information sharing issue In todays world, it is evaluated that 13.4 billion individuals utilize the web association through mobiles, tablets, broadband or different machines. Security issues can happen in any web associated framework and Smart TV isn't out of this. Avast pronounced that Vizio Smart TV empowering root access to Smart TVs hidden Linux working framework. Through USB gadget, the Smart TVs SSID worth can be misused (Addo et al. 2014). Knowing this blemish, programmers can assault any home apparatuses. This imperfection can follow the clients in second-by-second premise and give segment subtleties of the clients. Reference Addo, I.D., Ahamed, S.I., Yau, S.S. what's more, Buduru, A., 2014, June. A reference engineering for improving security and protection in Internet of Things applications. InMobile Services (MS), 2014 IEEE International Conference on. 2(1), pp.108-115. Lee, S.H., Sohn, M.K., Kim, D.J., Kim, B. what's more, Kim, H., 2013, January. Keen TV collaboration framework utilizing face and hand signal acknowledgment. InConsumer Electronics (ICCE), 2013 IEEE International Conference on. 3(1), pp.173-174 Lee, W.P., Kaoli, C. what's more, Huang, J.Y., 2014. A keen TV framework with body-motion control, tag-based rating and setting mindful recommendation.Knowledge-Based Systems,56, pp.167-178. Shin, N., Kraemer, K.L. furthermore, Dedrick, J., 2014. Worth catch in worldwide creation systems: Evidence from the Taiwanese gadgets industry.Journal of the Asia Pacific Economy,19(1), pp.74-88. Sicari, S., Rizzardi, A., Grieco, L.A. what's more, Coen-Porisini, A., 2015. Security, protection and trust in Internet of Things: The street ahead.Computer Networks,76, pp.146-164.

Moral Responsibility in Business

Moral Responsibility in Business Moral obligation Moral obligation is the deliberate inferable duty guaranteeing that demonstrations purposely and purposefully did by balanced people dont cause injury to others. Wilmot (2001) contrasts the speculations that from a business point of view, moral duty can be depicted as the nature of corporate conduct by which the dependable organization shows such attributes as knowledge, reasonability and good grit, anyway from another viewpoint can be considered to mean constraining partnerships answerable for their activities much as one would a person. As per Constantinescu and Kaptein (2015), moral obligation regarding results in corporate settings can be attributed people inside the enterprise, the company itself, or both, characterizing these as individual good duty, corperate moral duty and Summative Corporate Moral Responsibility. There is a typical held customary conviction that the item itself doesnt signify duty itself and that the client has extreme obligation anyway this has been contorted after some time to fuse items risk and the impacts thereof. As indicated by Federwisch (2015), an individual or gathering is ethically answerable for an occasion up to three premises are met, specifically in the event that they made the occasion happen, they acted inside the limits of reason and they could have kept the occasion from happening. A case of this is the Perrier embarrassment in 1992, when a US creation site found jugs containing the harmful concoction benzene. Perrier was ostensibly the market lead with over 60% deals got from abroad fares. Having no alternate course of action for item review, the administrations starting reaction was to make the occasion look like a confined occurrence, anyway when benzene was distinguished in Perrier all around, this was recognized as an indefensible clarification. So as to endeavor to look after notoriety, an item review of 160 million containers from 120 nations was actuated at an expense of over $250m. Lamentably, there was a deferral in real life from the organization and poor dynamic alongside poor correspondence prompted lost notoriety among customers (Caesar-Gordon., 2015). Along these lines, Perrier adequately left business, being raised by the Nestlã © collaboration. This can be stood out from the prior impacts of the Johnson and Johnson Tylenol occasion when in the eighties, parcels of the agony executioner Tylenol were intentionally defiled with cyanide and put upon the racks bringing about a few passings. Promptly, the administration body at the makers settled on a moral choice as per their moral viewpoint and stopped the promoting effort from the item, reviewed 31 million containers Tylenol represented 17% of the organizations overall gain, causing an expense of $100 million. Eventually, the choice end up being exceptionally fruitful. While beginning misfortunes were clear, and stock costs in the firm plunged, open trust in the firm was reestablished by the activity and inside two months of the occasion, the stock costs recouped and the organization recaptured its market position (Benoit, 2012). There are in any case, models in which the conditions become a hazy area, strikingly in the assembling of items that are intended to cause hurt, making a Catch 22 in the subject of good obligation. Constantinescu and Kaptein (2015) offered the conversation starter, is there any point in talking about the profound quality of associations when this could be rendered repetitive considering existing enactment in that capacity, do morals transend law. Near ethical quality recommends they do in that a firm might be acting inside the limits of lawfulness, yet still perform unscrupulous activities. A case of this is the creation of deadly implements. Firearms are intended to execute. They may not be utilized as, for example, they can be utilized for certain non-deadly donning rehearses for example target, recorded and skeet (mud pigeon) anyway that dos not take away from the way that the essential method of reasoning for the structure of a weapon is to be able to slaughter. As such it gets h ard to demonstrate that the item was abused comparative with its structure particular while keeping up that the activity met with the conditions laid out before that indicate obligation. As per Kurtzleben (2015), it isn't accurate that firearm makers are not obligated for their merchandise, nonetheless, they have explicit legitimate securities against risk that not many different enterprises can share, to be specific the Protection of Lawful Commerce in Arms Act of 2005-this doesnt clear arms makers from obligation relating to surrenders in the development of the thing anyway it provides the system by which utilization of the gadget inside its planned reason can't accepted be delegated abuse subsequently, in the event that such a weapon was utilized to make hurt an individual, at that point it is proceeding as it was expected and an argument can't be purchased against the producer. On the off chance that on the other hand during the procedure, the weapon falls to pieces and damages the client then the producer is obligated. Wilmott (2001) brings up the issue that the utilization of corporate obligation being focused on the association as opposed to the activities of an individual emerges in light of the fact that the likelihood of determining blame among a perplexing association is far-fetched along these lines the result is sketchy. This prompts assessment of the idea of disciplines brought about by the relative association which may frequently seem mind boggling and unbalanced, anyway this can ponder the idea of the discipline being control or prevention, and can be exacerbated by the impact of notoriety and picture considering a positive result. References Benoit, A. (2012, November 11). Johnson and Johnson: Recalling, Reassuring, and Reviving. Recovered March 11, 2017, from https://bizgovsoc4.wordpress.com/2012/11/11/johnson-and-johnson-reviewing consoling and-resuscitating 2/ Constantinescu, M., Kaptein, M. (2015). Commonly upgrading duty: a hypothetical investigation of the collaboration systems among individual and corporate good obligation. Diary of Business Ethics: JBE; Dordrecht129.2 (Jun 2015): 325-339. Caesar-Gordon , A. (2015). Exercises to gain from an item review .Retrieved March 04, 2017, from http://www.prweek.com/article/1357209/exercises learn-item review Federwisch, A. (2015). The Ethics of Product Usage. Recovered March 11, 2017, from https://www.scu.edu/morals/center territories/business-morals/assets/the-morals of-item utilization/ Kurtzleben (2015), http://www.npr.org/areas/itsallpolitics/2015/10/06/446348616/actuality registration firearm producers absolutely liberated from obligation for-their-conduct Wilmot, S., (2001). Corporate good duty: What would we be able to deduce from our comprehension of associations? Diary of Business Ethics: JBE; Dordrecht30.2 (Mar 2001): 161-169

Book review Essay Example | Topics and Well Written Essays - 1000 words - 4

Book survey - Essay Example After her sister Rosa bites the dust from being harmed, Clara turns into a recluse. Esteban, Rosa’s life partner, is caught up with making a fortune and explicitly abusing worker young ladies since he feels that he is qualified for because of his monetary status. After choosing to visit the old del Valle house, Esteban meets Clara and they immediately become drawn in and wed. After they are hitched, Ferula, Esteban’s sister, moves in with them. After a year, Esteban and Clara bring forth their first kid, a little girl named Blanca, who, as she gets more established, experiences passionate feelings for Pedro Tercero. Before the finish of that late spring, Clara ends up to be pregnant with twins, young men to be named Jaime and Nicolas. Prior to the introduction of her young men, Clara’s guardians bite the dust in a fender bender, bringing about the decapitation of her mom, Nivea. Clara isn’t quickly recounted what has happened to Nivea, in dread of difficulties with her pregnancy, yet she despite everything discovers. She embarks to discover the head, helped by Ferula. During this overwhelming time, Ferula and Clara become truly close; inevitably, Ferula and Esteban are battling for Clara’s consideration and love. At some point, Esteban returns home to discover Ferula and Clara in bed together, and he quickly shows Ferula out of the house, yet not before she can revile him with a forlorn life. Over the long haul, Blanca and Pedro’s love extends, however they realize that Blanca’s father could never endorse, as Pedro is from an alternate class. A long time later, Esteban gets some answers concerning his daughter’s relationship by Jean de Satigny, who just needs to make sure about himself in Esteban’s budgetary life either as his colleague or his child in-law. While trying to isolate his little girl from her sweetheart, Esteban attempts to execute Pedro, hurting his own significant other simultaneously, who at that point builds up a quiet connection among her and her better half. Be that as it may, years not far off,

Green shoots - Free Essay Example

Introduction The whole world is aware of the improvements seen in the global economic system. Green Shoots seem to have become the favourite term for the financial gurus. But as is with ever theory, this too has its share of critics, with a school of thoughts terming these green shoots nothing but weeds. While the debates continue between the gurus and the critics as does the battle between the bulls and bears, the winners seems to be the stock markets, which are seeing increasing flow of funds. Just to get the facts right, the Sensex level has more than doubled since March 2009 when the key benchmark index stood at around 8000. The Q1FY10 results of the Indian corporates have been encouraging as the deterioration in the health of financials and business overall seems to have ceased, boosting the investor confidence. The economic indicators have improved and the FII flows have resumed their way into the Indian markets. Economic situation in India has stabilized after arrival of late monsoon and Indias GDP is expected to grow at about 7%. The factors playing a spoilsport are the possible threat of rate hikes by the Reserve Bank of India (RBI) and a growing fiscal deficit which is estimated at 6.8 percent of gross domestic product, which is a 16-year high. However, irrespective of the grey areas as regards Indias financial health, there is no denying the fact that the current environment seems lot more promising than that a year before. The past year was a nightmare for the global financial markets. The dramatic turn of events, which were unraveled post the subprime crisis claimed many world renowned and legendary business houses. Cash was king and no amount of pursuing would have led one to part with it for any form of other asset, as such investments were plummeting. Equities markets were collapsing like a pack of cards and the liquidity seemed to have suddenly evaporated out of the financial system across the world. But, now, after the intervention of the governments and federal banks across the world, the system is coming back to life and the investor optimism is slowly seen returning. The emerging markets are seeing the much needed liquidity return in to the economy. The credit-starved corporates, who were just managing to survive, are suddenly fuelling ambitious dreams. And to realize them, they have entered the primary markets with all their might to again woo the investors. Optimal Capital Structure Modern Finance Theory propounds that the capital structure of a firm should be chosen to maximize the value of the firms assets. It says that a company can select that option from amongst the various financing alternatives which adds maximum value to the firm. This requires some technique of measuring the cost and risks associated with these financing alternatives. The companies should aim at attaining optimal capital structure by selecting more efficient financing alternatives. Optimal capital structure refers to the use of equity, debt and other hybrid financing alternatives in such a proportion that it minimizes the cost of capital and risk while maximizing stock prices. One of the most important issues in corporate finance is responding to How do firms choose their capital structure? Determining the optimal capital structure has for a long time been a focus of attention in many academic and financial institutions. There are various methods for the firm to raise its required funds; the most basic instruments are stocks or bonds. The mix of the different securities is known as its capital structure, so it can be defined as the combination of debt and equity used to finance a firm. And the target capital structure is the ideal mix of debt, preferred stock and common equity which adds maximum value to the firm. The Popular Tools of Financing in the Domestic Markets Initial Public Offering (IPO) In case the company decided to go to the public and offer equity, the company, which so far was private limited becomes public limited through the mode of IPO, which, on one hand brings huge funds while leaving the controlling position in the hands of the promoters, but on the other hand the company has to comply with the complicates rules laid down by the regulatory authority of the stock markets. The IPO route is also chosen by some large privately owned companies who are looking forward to go public. The Indian corporates have developed a bad taste for the Initial Public Offerings (IPOs) after the clouds of instability settled over the financial markets, world over since 2008. The cold response generated by the largest of IPOs deterred the new entrants from testing waters in the last year and half. IPOs have been one of the most popular fund raising routes for Indian companies in the past. A small start-up during its initial days of struggle attracts money from the venture capitalists and private equity players. However, once the scale of operation begins to grow, it reaches a stage where the company, in order to unleash its complete potential and to fulfil its dream ambition requires enormous funds. To facilitate the transition of the companys future plans into reality, it can either dilute the equity or bring in debt. And very often the extent of funding cannot by satiated by debts, as no financial institution would part with their funds just to appear as a creditor, when they can get a slice of the companies equity for the huge sum. So the equity dilution comes as a lucrative option, where either general public is offered a stake in the equity of a company or a third party is offered a lump sum stake. The revival of investor interest in IPO market during the second half of 2009 is more likely to get a boost this year. As many as 50 companies have already filed the draft prospectus with the Securities and Exchange Board of India (SEBI). Indian Inc. raised about Rs 20,000 crore through the IPO route in the year of 2009. With the government planning to dilute its stake in a host of profit making public sector companies by way of IPOs and follow-on public offers (FPOs) fund raising is expected to go up to Rs 50,000 crore in 2010. Qualified Institutional Placement (QIP) The year 2008-09 was not a really exciting year for the IPO markets in India. Similar dry spell was also seen in case of the relatively new tool of Qualified Institutional Placement (QIP), which saw lack of activity until recently. Qualified Institutional Placement (QIP) is a fund raising tool, wherein a company that is already listed on a stock exchange can issue equity shares or convertible debentures, or any other security (except warrants) which can later be converted into equity shares, to a Qualified Institutional Buyer (QIB). Other than preferential allotment, QIP is the only other speedy fund raising route for private placement by any company. Its better than other methods, since it does not involve many of the common procedural overheads, such as the submission of pre-issue filings which need to be made with the market regulator SEBI. Before the introduction of QIPs, the Indian listed companies, in a bid to make raising capital in the domestic markets simpler, resorted to raising funds from the overseas market by issuing Foreign Currency Convertible Bonds (FCCBs), American Depository Receipts (ADRs) and Global Depository Receipts (GDRs). In order to prevent the over dependence of the Indian corporates on the foreign capital, the market regulator SEBI had introduced QIPs in 2006, which enabled listed companies to raise money from domestic markets in a short span of time. Since their introduction, QIPs have proved to be attractive for companies as the issue cost is lower, the process is simpler and faster (no prior filing of draft offer document with SEBI), and compliance requirements are lighter as compared with ADRs/GDRs. Although QIPs were first introduced in May 2006, they actually gained momentum only in 2007. The QIP route stagnated in 2008 when the markets went into a bear grip. Ending the long gap in the QIP issues was the Unitech QIP. The issue saw as many as five large foreign institutions pick up about 15% in the companys shareholding for $325 million in mid-April of 2009. Unitechs QIP was followed by similar issues coming from IndiaBulls Real Estate which was worth Rs 2,657 crore and PTC India worth Rs 500 crore. As per the information provided by Prime Database, Indian companies had successfully raised a total sum of Rs 32,543.34 crore through 66 QIPs since its inception in May 2006. In 2006, there were 16 QIPs by Indian companies, followed by 41 in 2007. The appetite for QIPs diminished in 2008, and the markets witnessed only 8 placements, as fund raising became challenging in the wake of the global financial turmoil. In 2009, Indian companies had raised close to Rs 33,000 crore by way of 45 QIP issuances. Majority of share prices have seen significant correction since January 2008, when the markets were trading near their life-time highs. As a result of lower prices and improved liquidity in the system, recent times have seen has seen more buying interest from institutional investors. As many as 73 companies have expressed their intentions to raise funds through QIPs of approximately Rs 100,000 crore. Companies interested in QIP issues include Tech Mahindra, Sterlite Industries, Hindalco, JSW Steel, Reliance Comm. and Essar Oil Why a sudden rush of IPOs/QIPs? The Indian markets saw large selling of over Rs. 50,000 crore by FIIs in the year 2008. These outflows were a result of the global economic slowdown, where the entire financial systems had collapsed and stock markets across the globe were crashing to new lows in long time. It was the worst financial crisis witnessed in decades since the Great Depression of the 1930s. It is important to understand that this crisis basically stemmed from the realty market of US, where sub-prime markets saw big numbers of failures and foreclosures in servicing the loans. This led to a vicious cycle of cash crunch, which impacted the Mortgage Backed Securities (MBSs) built upon these defaulting homeowners loans. These MBSs were sold to the investment banker, who further repackaged these securities into unregulated asset backed security called collateralized debt obligations (CDOs), which is essentially repacking the MBS into categorized by the rating agencies into different tranches based on their assessed value by these agencies senior tranches (rated AAA), mezzanine tranches (AA to BB), and equity tranches (unrated). A huge chunk of these CDOs was brought about by the commercial bank in greed of huge incomes as a reward for higher risk associated with these securities. But this was not meant to be as these securities turned out to be toxic for the banks as the payoff coming from the homeowners stopped. This led to a severe credit crunch, which spread throughout the monetary system thanks to the greedy bankers. Now, this rot of the US home markets quickly spread to other markets world over as directly or indirectly, all the nations in the world had some interest in this leveraged asset class. It follows that Indian markets also reacted to this development in the expected negative way as the FIIs secured their positions by booking profits, which caused massive spells of corrections in the Indian benchmark indices. The FDI investment dried as a result of the liquidity crisis. As a result of this, those sectors, which needed heavy CAPEX to survive, were groping desperately for some sort of help from the government. The companies in the real estate and infrastructure sectors saw severe downturn, and many realty companies, who were starving for money, found it difficult to stay afloat, as the projects came to a screeching halt, the banks were reluctant in providing credit and home prices and sales kept falling. After much intervention from the government and the Reserve Bank the Indian markets started showing signs of recovery much before their European and American counterparts. Limited exposure of the India markets to derivatives like the CDOs and other MBSs was a major reason for India to emerge as a relatively insulated economy, safe from the dangers of the western markets. The domestic demand in the country has been strong, giving the markets a strong support. Also the election of a stable UPA government added to improving market sentiments amongst domestic investors. The comparatively swift recovery of India made it an interesting destination for FIIs who were looking for safer shores to invest. The revival in market sentiments came as a big relief to these ailing companies, who were rushing to raise money, majorly to retire expensive debt and restructure their balance sheets. The revival brought in a fresh wave of opportunities for these companies to consider the IPO/QIP routes to raise funds. Companies in the real estate and infrastructure sectors were especially looking at QIPs as a means to either retire debt or to fund ongoing projects. The major reason for increasing interest in the QIP route for fund raising is its time-effectiveness. While an IPO issue can take anything from 4 months to as long as a year, QIP issues on the other hand can be wrapped up within a span of 4-5 days. The 45 QIP issuances done during the year 2009 have resulted in a mark-to-market (MTM) profit of around 21.60 per cent, which is equivalent to about Rs 7,050 crore for the QIBs. The year 2009 can easily be labeled the year of the QIPs. And moving forward in 2010, till the time we see some serious appetite in overseas markets for instruments like converts/ADRs/GDRs, QIPs shall continue to dominate the fundraising space. Foreign Currency Convertible Bonds (FCCBs) FCCBs are a popular mode of raising money from the foreign soils, which is as much a benefit to the issuer as it is to the investor. It has the features of both equity as well as debt. FCCBs are typically issued as interest bearing or zero coupon bonds and are convertible during their tenure into equity. FCCBs are a popular source of raising money as they have considerable benefits for both the investors and issuers of the bonds. Similar to any other debt instrument FCCB brings the benefit of capital protection along with the chance to capitalize on any appreciation in the companys stock prices by means of conversion. This is very beneficial to an investor who will invest in such bonds. As for the issuing company, FCCBs are a source of low-cost debt as the coupon rates on such bonds are lower than the average lending rates prevailing in the markets. But in recent times of liquidity crunch and the market meltdown FCCBs have turned out to be a double-edged sword. Firstly, FCCBs were a concern due to the swelling foreign exchange losses of the Indian companies. Along with the MTM losses on derivatives, companies also had to make provisions for interest expenses on the issued FCCBs, following the severe decline of the Indian rupee. Later, the problem of high conversion prices for outstanding FCCBs made its presence felt in the midst of falling stock prices, underscoring the possibility of their non-conversion. In fact, the conversion price of their foreign currency convertible bonds in most cases is several times higher than their current market prices (refer to the table given below). To deal with the situation, the companies were left with two options. One was to redeem the bonds, which could raise the companys debt obligations that were already significant in some cases. The other was to reset the price to current market price, which could result in dilution of the promoter holdings, as it would mean issuing more equity shares in the market. Realizing the no-win situation that some of the Indian companies were in because of large outstanding FCCBs; the RBI had permitted the buyback of FCCBs in November 2008 (subject to fulfillment of specified conditions) through new ECBs (External commercial borrowings). A few months later the RBI allowed buyback through rupee resources as well. Private Equity Private Equity (PE) is the security of companies that are not listed on a public exchange. And as such these securities are not traded in the secondary markets. PE comprises of funds and investors who directly invest into private companies or buyout public companies that causes delisting of public equity. PE is an attractive financing option for small and emerging companies, who are planning to expand their operations and need capital for the same. PE makes more sense to Small and Medium Enterprise (SMEs) as compared to other options such as QIPs because of two major reasons. First is the added advantage of the financial and operational acumen that a PE investor brings to the company. SMEs can greatly benefit from the expertise of the PE investor. Secondly, since most of these SMEs are not listed on any stock exchanges, raising capital becomes a difficult task for them. PE provides them with the opportunity to raise funds without the need to be registered with a stock exchange. Private equity has witnessed phenomenal growth over the last few decades as institutional investors, seeking higher returns, embraced this alternative to traditional asset classes. The last few years leading into the current financial crisis was a boom period for private equity in terms of the size and number of deals, driven primarily by buoyant credit markets that have since squandered. In the year shrouded by an aura of uncertainty, India witnessed 287 deals in 2009 at a disclosed value of $4.43 billion compared to 502 deals with a total disclosed value of $11.98 billion in the year 2008 and 488 deals with an announced value of $15.61 billion in 2007. Some of the large private equity deals in 2009 included KKR and CPP Investment Boards $255 Mn investment in Aricent Inc., Siva Ventures Ltd. acquisition of 51% stake in S Tel Ltd. for $230 Mn and TPG Capitals $200 Mn investment in Mumbai based Indiabulls Real Estate. With respect to high value deals there were 14 and 9 deals over $50 Mn and $100 Mn respectively in 2009 as compared to 30 and 25 deals of over $50 Mn and $100 Mn respectively in 2008. Treasury Stocks Stake sales Both, the Sensex and the Nifty are today trading at levels near their 30-month highs. And many corporates are rushing to make the most of the current market rally. Consequently, promoter stakes sale and treasury stock sale has witnessed a significant rise. The highly leveraged firms, who are unable to raise further capital from other conventional sources, resort to this route, where in a bid to raise funds, these cash strapped companies promoters decided to sell a part of their stake or sell of the shares accumulated in the company trust and use the proceeds for financing their business activities. The trust structure or treasury stock gives the flexibility to a company to sell its shares at an appropriate time without undergoing the expansion of capital. Just a couple of days back on the 5th January 2010 Reliance Industries Ltd. (RIL) sold a part of its treasury stock for Rs 2,675 crore second such transaction in less than four months. The amount raised by this sale of shares, which were originally held by a trust, would be utilized for the proposed acquisition of LyondellBasell, the Netherlands-based petrochemicals company. In the process RIL sold 258.50 lakh treasury stocks at an average price of Rs 1,035 apiece, which was a 5% discount to RIL stocks December 31 closing price of Rs. 1089.40. Just a couple of months back, Reliance Industries (RIL) raised another Rs 3188 Cr from treasury stock sale held under Petroleum Trust. The company plans to utilize the raised capital to acquire some oil blocks overseas, following the dip in their valuations. The trust, which is a part of RIL, sold around 1% of its stake or 1.5 crore RIL shares at an average Rs 2,125 apiece. After the first RIL treasury sale episode, we saw an outbreak of activities in this space. The RIL treasury sale was immediately followed by a spell of promoter stake sales from various corporates in the open market. Taking advantage of the bull run in the stock market, the promoters of Construction firm Jaiprakash Associates, wind turbine maker Suzlon Energy and pharmaceutical giant Cipla sold off a portion of their treasury stake in the open market to cumulatively raise Rs 2,540 crore. The Tulsi Tanti family who are the promoters of Suzlon Energy sold off approximately 70 million shares out of their holdings (roughly 4.5 % of their total stake in the company) for nearly Rs 678 crore at Rs 96.85 per share. Procceds of this transaction will be used to support the operational expenses of Suzlon, which is sitting on a debt in excess Rs 12,000 crore. Jaiprakash Associates raised Rs 1,190 crore by selling around 45.4 million shares. Similarly, Cipla raised around Rs 672 crore by selling off shares to FIIs and Domestic institutional investors at Rs 263.75 apiece. Conclusion The green shoots seems to be the new buzz word as the monthly and quarterly indicators of the global economic health give away better numbers indicating the bottoming out of the recessionary phase or even early signs of recovery. But at same time one must forget that markets are not always a perfect indicator of the economy. It has often been observed that bull runs in the markets come much before actual economic recovery takes place. Certain aspects of the Indian economy are still not very convincing. Declining exports, inflationary pressures, declining kharif output are all indicatives of a fragile recovery. But what can be said is the fact that a bullish market is always bustling with fund raising activities. Be it IPOs, QIPs, PE or FCCBs. These activities come to a halt as soon as the economy enters a recessionary phase and the cash supply gets tight. A bull run is perhaps the best opportunity for a corporate to raise funds, with surplus cash being available with investors and when market sentiments are strong. So as we are on the edge of a fresh beginning of a bull run, the corporates have smelled the winds of change. To make the best of this opportunity, India Inc is shoring up its resources to enter the arena and win this round. PE funds in India have accumulated large cash surplus, which was raised in anticipation of a long bull run. Since the meltdown reduced investment opportunities, we can expect the utilization of these idle funds in the near future. IPOs and QIPs have already made the entry, the promoters are out there planning their moves indulging in open market activities of encashing this opportunistic rally and we can be sure that the FCCBs would soon follows once the consolidation happens, the financial markets gain traction and the markets resume the smooth upward journey. References Agence France-Presse (AFP): Bernanke sees green shoots of US recovery (Mar 15, 2009). Business Standard: Nomura revises Indias GDP forecast to 7% (Jan 03,2010). The Economic Times: Need to balance growth, fiscal deficit: FM (Dec 30, 2009). Determining the optimal capital structure by agricultural enterprises by Adrienn Herczeg. The Economic Times: IPO arena hots up (Jan 03,2010) Business Standard: Cos plan to raise Rs 50K cr in 2010 (Jan 03,2010). The Economic Times: What is QIP? (Jun 05, 2009) The Economic Times: India Inc lines up Rs 30K cr QIPs (May 30, 2009). The Economic Times: India Inc may take QIP route again for funds in 2010 (Jan 2, 2010) Business Standard: Recent QIPs give 39% returns (Oct 14, 2009). The Economic Times: FII inflows hit record Rs 80,000 cr-mark in 2009 (Dec 24, 2009). CNBC TV-18 : Why is India Inc taking the QIP route (Jun 10, 2009) Nimesh Shah, MD Fortune Capital Business Line: FCCB Double-edged sword (Dec 28, 2008) Business Standard : FCCB redemptions put India Inc in a Catch 22 situation (Oct 3,2008) ANNUAL DEAL ROUNDUP 09 : VCCEdge Reuters: KKR, CPP investment buy Flextronics pie in Aricent for $255 Mn (Sep 22, 2009) VCCircle : Siva Redials Telecom With 51% Stake In S Tel ( June 20 2009) The Times of India : RIL raises Rs 2675 crore via treasury stock sale (Jan 5,2010) Business Standard: Rally prompts promoters to sell treasury stock (September 24, 2009) The Hindustan Times : Indias recovery fragile, says RBI governor (Nov 27, 2009)

A Brief History of Banking Reform After the New Deal

As president of the United States during the Great Depression, one of President Franklin D. Roosevelts primary policy goals was to address issues in the banking industry and financial sector. FDRs New Deal legislation was his administrations answer to many of the countrys grave economic and social issues of the period. Many historians categorize the primary points of focus of the legislation as the Three Rs to stand for relief, recovery, and reform. When it came to the banking industry, FDR pushed for reform. The New Deal and Banking Reform   FDRs New Deal legislation of the mid- to late-1930s gave rise to new policies and regulations preventing banks from engaging in the securities and insurance businesses. Prior to the Great Depression, many banks ran into trouble because they took excessive risks in the stock market or unethically provided loans to industrial companies in which bank directors or officers had personal investments. As an immediate provision, FDR proposed the Emergency Banking Act which was signed into law the very same day it was presented to Congress. The Emergency Banking Act  outlined the plan to reopen sound banking institutions under the US Treasurys oversight and backed by federal loans. This critical act provided much-needed temporary stability  in the industry  but did not provide for the future.  Determined to prevent these events from occurring again,  Depression-era politicians passed the Glass-Steagall Act, which essentially prohibited the mixing of banking, securities, and insuranc e businesses. Together these two acts of banking reform provided long-term stability to the banking industry. Banking Reform Backlash Despite the banking reforms success, these regulations, particularly those associated with the Glass-Steagall Act, grew controversial by the 1970s, as banks complained that they would lose customers to other financial companies unless they could offer a wider variety of financial services.  The government responded by giving banks greater freedom to offer consumers new types of financial services. Then, in late 1999, Congress enacted the Financial Services Modernization Act of 1999, which repealed the Glass-Steagall Act. The new law went beyond the considerable freedom that banks already enjoyed in offering everything from consumer banking to underwriting securities. It allowed banks, securities, and insurance firms to form financial conglomerates that could market a range of financial products including mutual funds, stocks and bonds, insurance, and automobile loans. As with laws deregulating transportation, telecommunications, and other industries, the new law was expected to gen erate a wave of mergers among financial institutions. Banking Industry Beyond WWII Generally, the New Deal legislation was successful, and the American banking system returned to health in the years following World War II. But it ran into difficulties again in the 1980s and 1990s in part because of social regulation. After the war, the government had been eager to foster homeownership, so it helped create a new banking sector—the savings and loan (SL) industry—to concentrate on making long-term home loans, known as mortgages. But the savings and loans industry faced one major problem: mortgages typically ran for 30 years and carried fixed interest rates, while most deposits have much shorter terms. When short-term interest rates rise above the rate on long-term mortgages, savings and loans can lose money. To protect savings and loan associations and banks against this eventuality, regulators decided to control interest rates on deposits.

Impact of Taylorism and Fordism on Management - 2026 Words

Management is a very complex field and has evolved over a long period of time. Globalization has affected every part of our lives and not even management has been spared, thus forcing new approaches to management to be developed in line with global demands. The oldest school of thought was the scientific management by Frederick Winslow Taylor. His main objective was to improve economic efficiency through application of scientific principles to labour process and establish one best way to do things. Its main impact was efficiency along with deskilling and dehumanisation of workers. Fordism was another school named after Henry Ford after spending much devising ways improving productivity of automobile companies ,especially Ford Motor†¦show more content†¦Taylorism also entailed selecting right people for right jobs and eliminating those who are slackers or unproductive. It was introduced during the era of mechanisation and automation hence laid the ground for automation of industrial processes and also offshoring. Fordism Fordism was established by Henry Ford of the Ford Motor Company. His main aim was to make the industry productive although some scholars would attribute it to development of Taylorism as most of scientific management principles were incorporated in Fordism. Taylor developed the idea of division of labour but Ford perfected it by breaking down the production process into small segments with each segment being handled by single person in an assembly line (Beynon Nichols 2006). Ford also eliminated the use of humans and replaced them with special-purpose machines thus perfecting the automation process started by Taylor. These machines produced standardised mass products for customers for mass consumption. By operating on regulation principle, Ford wanted to ensure workers’ standard of living are raised in proportion to their productivity hence his era was that of high-wages as also emphasised by Taylor. This high wage was to enable these workers to consume the mass products that were being produced. The system also offered job securityShow MoreRelatedDescribe and Critique on Scientific Management1284 Words   |  6 PagesReport Title: Describe and critique the Scientific Management approach pioneered by Frederick Taylor Content Page Executive Summary 2 Who Is Frederick W. Taylor? 3 Scientific Management 4 Fordism 5 Criticisms of Scientific Management 6 Neo - Taylorism 7 Conclusion 8 Reference List 9 Executive Summary This study aims to analyze and discuss both industrial benefits and social implications of Frederick Taylor’s scientific management approach. 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Female Genital Mutilations (FGM) free essay sample

An analysis of the legal and constitutional rights available today against FGM. This paper explores the issue of Female Genital Mutilations (FGM). The author presents the views of Amnesty International and the Feminist Majority Foundation on this issue. In addition, the author will examine the available legal or constitutional rights as a means of merely managing this global situation. Female Genital Mutilations (FGM) for more then a decade now has been the major concern for International organizations. FGM according to these organizations is not only violation against humanity but also human rights, thereby declaring it a constitutional and a legal issue. The Amnesty International, for example, have indicated that FGM is not necessary but only a cultural ritual that people perform from age old, pre-dating Islamic periods. Hence, it does not have any religious significance but a continuation of barbarian rituals. In this regard it is important that one weigh the pros and cons of the issue whether it has any weight from a constitutional or legal stand point of view. We will write a custom essay sample on Female Genital Mutilations (FGM) or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The following discussion investigates this issue in the light of various media and intervention methods that could be utilized by the community.