Wednesday, September 2, 2020
Question: Assignment 1 1.1. Clarify the idea of procedure, state and clarify vision, strategic, targets and center capabilities of British Airways. 1.2. Survey the issues associated with vital arranging. 1.3. Clarify key arranging procedures that associations can utilize, for example, BCG development share lattice, and apply to British Airways. Errand 2 2.1. Complete an (inward) hierarchical review of British Airways especially thinking about qualities and shortcomings (utilizing SWOT), authoritative culture, and benchmarking (to decide current position and execution of BA comparative with different organizations in the business). 2.2. Attempt an outer natural investigation of British Airways utilizing PESTEL model (large scale condition), distinguish openings and dangers present in the outside condition (utilizing SWOT), and industry examination (utilizing Porters 5 Forces structure). 2.3. Utilizing Stakeholder Mapping Technique attempt examination of the British Airways partners and clarify the significance of undertaking partner investigation. Undertaking 3 3.1. Introduce and assess conceivable elective future methodologies of British Airways identifying with meaningful development (level and vertical coordination, related and inconsequential expansion), constrained development (sit idle, techniques depicted in Ansoffs Matrix showcase infiltration, advertise improvement, item advancement) and conservation. 3.2. Select a proper future methodology for British Airways to seek after utilizing Porters Generic Strategies. Assignment 4 4.1. Look at the jobs and duties of the supervisors and (undertaking) colleagues in executing methodology, identify with British Airways, assess on the case of a particular technique (expanding the quantity of trips on Dubai administration in the Middle East, or propelling trips to Seoul in South Korea). 4.2. Assess what assets (budgetary, HR, time, materials and gear/innovation) will be required to execute another methodology for British Airways. 4.3. Talk about targets and timescales set to effectively understand a specific British Airways technique, and utilize these objectives and timescales for assessment. Answer: Errand 1 Arrangement 1.1 English Airline needed to turn into the Global Airline of the world. The system includes the arranging and execution on the ground. BA have purchased the various aircrafts to turn into the second biggest carrier of Europe and 3Rd biggest of the world. The carrier has followed the way of inorganic development by securing different aircrafts (Carpenter and Hanssens, 1994). The system to incorporate an organization with an International Airline of decision if reflect in its vision, strategic, and objectives of the organization. The organization has additionally fabricated the center capabilities in a since quite a while ago race to support and satisfy the goals of the investors. Vision: The drawn out arrangement of the organization to continue in the business as a Global, premium and work and concentrate just in the flying industry. This will bring about creation a huge organization in Aviation business. Crucial: strategic the benchmarks, the organization need to accomplish for the time being. The objective is set for the transient like cost cutting, increment benefit accomplish achievement by increment income. Objectives: The objectives are intended for accomplishing the vision of the organization. The objectives resemble to turn into the aircraft of the decision, increment the tasks, going into the new geologies and so forth (Giapponi and Scheraga, 2010). Center skills: The adaptability and quality of the organization accomplished in the timeframe by making strides like merger and procurement become the ability over the long haul that help Airline to accomplish the target of the organization. Arrangement 1.2 The issues that engaged with the key arranging is the execution at the ground level, the agreeableness of the new strategies by the representatives, acknowledge the workers of the gained organization as the friends, the worker's guild arrangements and so on. The technique ought to be adjust to the basic goals of the organization and the representatives for example the goal is to vanquish the opposition by diminishing the cost, the expense can be decreased either by cutting the avoidable costs like free food or by cutting the worker quality. In spite of the fact that the goal is same yet there will be part of issues and issues if staff quality is chopped down (Six Carrier Mutual Aid Pact: A New Concept of Management Strike Strategy in the Airline Industry, 1960). Arrangement 1.3 The BCG grid is Cash dairy animals, stars, question mark and Dogs. Pooches: The zone of business where the speculation required is low/Nil and the profits/Cash streams are low however steady. The BA have edge in the London showcase and the incomes are steady the organization has just made the generosity in the business sectors and receiving the rewards. The opposition cannot beat BA in this market Money Cows: The Middle East market is the money bovine. It is developing business sector and the center point for the carriers and associate with south east Asia. The venture will give high and stable returns for the organization (Althonayan and Sharif, 2010). Stars: The stars is the US advertise. BA is third biggest carrier organization, initial two are from the US. In US advertise the incomes are high, the speculations are high because of rivalry and the customer need to spend on the ordinary up degree on administrations to continue contending and dealing with its offer in the market. Question Mark: The question mark are the territories were the organization isn't making a big deal about the benefits. BA is engaged eventually premium administrations yet at the same time working inside the Europe on short separation. It doesnt match to its vision and mission so in this way these operational regions to be shut down. Errand 2 Arrangement 2.1 English Airways is driven to the representatives, channel accomplices, clients driven, execution and greatness based. This make them a one of a kind blend of the qualities that is increased over a procedure improvement and securing of different carriers. The decent variety of the representatives, the nearness in the worldwide urban communities, the adaptability of taking quick choices, the economies of scale settle on them a carrier of the selection of workers (Brueckner et al., 2015). We will do the SWOT examination point savvy:- Quality: The multi culture, broadened, huge activities, minimal effort accomplished because of economies of scale, snappy choices to work in Profit making geologies and center methodology in the aircraft business. Shortcoming: The sufficiently large to move or reorient business, multi mix of worker's guilds, the maturing staff of gained organizations, preparing issues to normalized the tasks (Carpenter and Hanssens, 1994). Openings: The representatives are the quality of the any help industry and the fulfilled worker carry pleasure to the customer by serving great. BA can utilize this solidarity to carry separation to the client solace and experience. The way of life of equivalent chance to workers lessen the whittling down and in this way cost of the organization. The assorted variety and worker quality will assist the BA with concentrating on the new possible topographies of business (Czipura and Jolly, 2007). Dangers: The representative become the shortcoming when he joins the opposition. There are courses which are not productive and BA need to close procedure on such courses and cut down the positions. These individuals will join the opposition and will turn into the dangers, as they are prepared, beneficial for the fulfillment and accordingly the cost will descend for contender. Arrangement 2.2 PESTEL: The full scale condition impact any business. The full scale condition comprise of political, natural, social, innovative, lawful. Aircraft business is profoundly controlled by the individual governments. The simplicity of working together makes business manageable. The social acknowledgment is significant on the grounds that the staff, the accomplices originates from the general public so brand worth ought to be reflect certainty among the individuals. The business require advance utilization of innovation. The flight business required part of ventures on headways from the security and wellbeing perspective. The lawful framework ought to be sufficiently vigorous to give the equity to the organization in the event of any misfortune occur. The BA ought to work in such nations which can give these absolute minimum required security for running the activities (Digman, 1980). SWOT: The quality, shortcoming, openings and dangers of the British carriers are as per the following. The quality is the economies of scale and huge activities with trips to 148 areas of the world. The shortcoming is the enormous workforce which is powerless because of reason of significant expense. The dangers is from the full scale condition where the fuel costs are insecure and make the business unviable quickly. The open doors are in the new topographies where the business has no opposition and make great benefits (Diversification as an elective development procedure for the aircraft business, 1982). Watchmen 5 Forces; The danger of the new participants in the market, the dependability to be worked with the clients, the drawn out consent to be finished with the corporates to benefit the administrations so the opposition need to trust that since a long time ago run will support. The bartering intensity of purchasers is risen because of rivalry, the structure of rivalry to be stayed away from by business direction procedures. The dangers of substitute like on the short take, trains, ship ought not remove BA business so the cost ought to be to such an extent that substitution won't be compelling. The providers like fuel, cooks ought to be reliant by making long haul agreements and steadfastness to be diminished over the time. The option ought to be there to stay away from strike like circumstances. Arrangement 2.3 The partners are the channel accomplices of the British carriers. It is one of the center fitness of the BA, the partners are clients, representatives and sellers. The fitness of the partners increment the quality of the organization, the organization is worldwide working in various geologies and it got hard for the focal supervisory group to control the general tasks and s
Saturday, August 22, 2020
Reason for a Literature Review Essay Reason for a Literature Review to recognize what has just been done/found, comparable to the exploration subject that is being considered and addresses the topic of what necessities to occur straightaway. give a concise outline of research youve read. Exhibit that you comprehend the subject and include huge information inside the field of study and afterward present a defense. Putting forth a defense might be an investigation of research, study, or theoretical contention. Additionally, make certain to incorporate an enticing contention. Toward the finish of a writing audit you ought to recognize a hole or confusion inside the data (distinguish and investigate the hole). My way to deal with composing this writing survey was to some degree like the composition of a standard article. Ive utilized this methodology in past assignments Ive finished including, for example, a story and a commented on book reference. They all have comparative attributes. Thank heavens for this! It gives me a thought of where to begin. I accept these normal attributes are the fundamental subject of the bit of composing and proof/textuality of your point from different readings. Textuality is utilizing bits of composing from different attempts to help your points.Ã Beware, however these articles may fill in as a guide, they likewise have numerous distinctions. What would it be a good idea for you to do straightaway? *Ponders* Information! Data! Data! Be clever, bolster your cases, legitimize your answers. It is significant that you do this in the right way. My most noteworthy exhortation is approach your educator for a companion survey guide and use it as you compose. This will guarantee that your composing is clear, sorted out, streaming, and elegantly composed. In the event that you feel as if you can't do this for yourself, Id propose having another person perused your writing survey so anyone might hear. Dailyns basic strides to composing a writing survey; these are my own thoughts so I have no confirmation on the off chance that they really worked until I recieve criticism. Im trusting I arranged this one. How would you approach writing surveys? Good karma, and until next time. Fare thee well. Writing Reviews What this freebee is about This present will clarify what a writing audit is and offer experiences into the structure and development of a writing survey in the humanities, sociologies, and sciences. Acquaintance OK.Ã Youve got with compose a writing survey. You dust off a novel and a book of verse, settle down in your seat, and prepare to give an approval or disapproval as you leaf through the pages. Writing audit done. Isn't that so? Wrong! The writing of a writing audit alludes to any assortment of materials on a theme, not really the incredible abstract writings of the world. Writing could be anything from a lot of government leaflets on British frontier strategies in Africa to academic articles on the treatment of a torn ACL. What's more, an audit doesn't really imply that your peruser needs you to offer your own input on whether you loved these sources. What is a writing audit, at that point? A writing audit examines distributed data in a specific branch of knowledge, and some of the time data in a specific branch of knowledge inside a specific timespan. A writing audit can be only a basic rundown of the sources, however it for the most part has a hierarchical example and joins both outline and amalgamation. An outline is a recap of the significant data of the source, however a blend is a re-association, or a reshuffling, of that data. It may give another translation of old material or join new with old understandings. Or on the other hand it may follow the scholarly movement of the field, including significant discussions. Furthermore, contingent upon the circumstance, the writing survey may assess the sources and prompt the peruser on the most appropriate or pertinent. In any case, how is a writing survey unique in relation to a scholarly research paper? The fundamental focal point of a scholastic research paper is to build up another contention, and an exploration paper will contain a writing survey as one of its parts. In an exploration paper, you utilize the writing as an establishment and as help for another understanding that you contribute. The focal point of a writing survey, notwithstanding, is to sum up and orchestrate the contentions and thoughts of others without including new commitments. For what reason do we compose writing audits? Writing audits furnish you with a convenient manual for a specific subject. On the off chance that you have restricted time to direct research, writing audits can give you a diagram or go about as a venturing stone. For experts, they are valuable reports that stay up with the latest with what is present in the field. For researchers, the profundity and broadness of the writing audit accentuates the believability of the author in their field. Writing surveys likewise give a strong foundation to an examination papers examination. Exhaustive information on the writing of the field is fundamental to most research papers. Who composes these things, at any rate? Writing surveys are composed at times in the humanities, however for the most part in technical disciplines and sociologies; in examination and lab reports, they establish an area of the paper. Here and there a writing audit is composed as a paper in itself.
Friday, August 21, 2020
Lab Report Final Draft Paper The understudy directed the test given, utilizing safe lab rehearses, that found the extremity of two separate solvents, and it has been appeared through test celebrates that the speculation shaped in the start of this investigation is valid. It has been deducted from this trial that solvents which break up, or get, water dissolvable inks are polar, while solvents that disintegrate, or get, non water solvent inks are non-polar. Acquaintance In request with decide the extremity of two solvents, ooze and senseless clay, an analysis is being led that will give information to figure an end on the issue. This lab will answer whether the tried solvents are polar or non-polar, just as whether the inks utilized are polar or non-polar. Data was given in the start of the lab clarifying that solitary polar solvents will disintegrate or get polar ink, and just non-polar solvents will break up or get non-polar solvents. Chromatography will be utilized to check ends made on the extremity of the inks. Foundation The lab gave data as the premise to the examination. It was given that polar solvents just get or break up polar substances, just as that monopole solvents just get or disintegrate monopole substances. We will compose a custom exposition test on Lab Report Final Draft explicitly for you for just $16.38 $13.9/page Request now We will compose a custom exposition test on Lab Report Final Draft explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer We will compose a custom exposition test on Lab Report Final Draft explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer Likewise, in the lab presentation, the data analyzes covalent and ionic bonds instructing that he extremity qualities of substances are because of their nuclear structure and atomic shape. For instance: Water is a polar particle because of the electrons being shared between the oxygen iota and the two hydrogen iotas. As the electrons are pulled near the oxygen iota it leaves a marginally positive charge outwardly of the hydrogen particles, while the opposite side of the atom contains a somewhat negative charge. The information on the extremity of water is a control inside this investigation. Target Using the information on polar and non-polar particles, we can watch the heartsickness of the impacts of the test on the inks, and decide the extremity of the solvents. Speculation Knowing the sythesis of the Slime being fundamentally water, the ooze will break up or get the water solvent inks and the senseless clay will get the non-water dissolvable inks. Materials and Methods Materials: (1) 250 ml Beaker 5 ml 4% Borax Solution Dry Erase Marker (1) 10 ml Graduated Cylinder (1) 100 ml Graduated Cylinder Filter Paper (Disk) Filter Paper (Square) 0. G Guar Gum Highlighter Permanent Marker 1 Popsicle Stick Silly Putty Ruler Wooden Stir Stick [emailprotected] Roller Pen Distilled Water Newspaper Notebook Paper Scissors Part 1: Making Slime 1. Weigh out 0. 5 g of guar gum into a 250 ml measuring utencil. 2. Measure 50. 0 ml of refined water into a 100 ml graduated chamber and empty it into the 250 ml recepticle that contains the guar gum. 3. Quickly mix the blend with a wooden mix stick for three minutes, or until the guar gum is broken down. 4. Measure 4. 00 ml of a 4% Borax arrangement into a 10 ml graduated chamber and add it to the guar gum and water. . Mix the arrangement until it becomes sludge. This will take a couple of moments. In the event that the sludge remains excessively runny, include an extra 1. Ml of the 4. 0% Borax arrangement and keep on blending until the ooze is the somewhat runny or gooey. 6. When you are happy with the sludge, empty it into your hands. Be certain not to drop any of it on to the floor. 7. Control the ooze in your grasp. Record perceptions made about how ooze pours, extends, breaks, and so on. In Part 1 of the Data segment. Alert: Slime is elusive and whenever dropped it can make the work territory smooth. . Spot the sludge once again into the recepticle and WASH YOUR HANDS. Section 2: Slime and Putty Ink Tests 1 . On a bit of journal paper make one 20 25 mm long sign of every one of the inks you are trying (indelible mar ker, highlighter, Dry Erase, and [emailprotected] Roller Pen). Space the imprints at any rate one inch separated. Utilize a pencil to name each stamp with its portrayal. A. Water solvent inks incorporate those in highlighters and certain pens. B. Water insoluble inks incorporate those in a changeless pen/markers, newsprint, and a dry-delete markers. 2. While the inks are drying, select an entry or an image in the paper to test with the ooze. 3. Build up a speculation expressing whether you accept the ooze delivered in Part 1 will get newsprint ink. Record this speculation in the Post-Lab Questions area. At that point, sever a little bit of ooze that is 3 5 CM in measurement. Delicately place this piece on the paper print, at that point cautiously get it once more. 4. Watch and record in Table 1 whether the ink was gotten onto the ooze. 5. Sever another little bit of ooze. When the inks from Step 1 have dried delicately place the ooze on the principal spot on the scratch pad paper, at that point cautiously get it. Rehash this for every one of the inks. Watch and record which inks were gotten (broken up) by the ooze in Table 1. 6. Rehash this ink testing two additional occasions for exactness. 7. Speculate which inks the senseless clay will get in the Part 2 of the Data segment. At that point, play out the ink tests with the Silly [emailprotected] as indicated by the strategy sketched out in Steps 5 6. Section 3: Chromatography of Ink Samples 1. Utilize a pencil or scissors to jab a little opening in the middle off bit of channel paper (see Figure 7). 2. Recognize the channel paper uniformly separated roughly 2 CM from the little opening with the two insoluble inks and the two solvent inks that were utilized in Part 2, Step 1. 3. Get a h bit of channel paper. Overlap the paper into equal parts a few times with the goal that it makes a restricted wick. . Supplement the wick into the opening of the spotted paper with the goal that it is over the highest point of the channel paper by roughly 2 CM. 5. Fill a 250 ml measuring utencil 3/4 full with water. 6. Set the channel paper on the container with the goal that the base of the wick is in the water. The paper should hang over the edge of the measuring utencil with the spotted side up. 7. Permit water to go until it is around 1 CM from the edge of the channel paper. Expel the channel paper from the container. 8. See which inks moved from where they were initially spotted. Record your perceptions in Part 3 of the Data segment. In the test, we were given the above guidelines on the most proficient method to make ooze. Senseless clay was given in the lab pack. A 25 CM mark was made on scratch pad paper utilizing four sorts of ink: highlighter ink, cloister adherent ball roller pen ink, perpetual sharpie ink, and dry eradicate marker ink. There was additionally a paper cut used to test the solvents on the paper ink too shaping the aggregate of 5 trial gatherings. The inks are the needy factors in this examination. The solvents were then put on every one of the five inks, multiple times each, to check whether they got or broke down the inks. The solvents are the free factors n this analysis. The consequence of whether the dissolvable picked or broke up the ink was recorded. In the wake of finishing this piece of the test, channel paper was set on a recepticle filled % full with water, with a wick put through the channel paper into the water. Spots of the four individual inks were put on the channel paper. The responses of the inks, as the water went up the wick into the channel paper were recorded. The trial can be investigated further in the above trial procedural advances. Results, Data, and Observation Table 1: Results of Ink Testing for Silly [emailprotected] Name of Ink Picked up (broke up) Did not get Trial 1 Trial 2 Trial 3 Newsprint Table 1: Results of Ink Testing for Slime x The above chart represents the discoveries in the investigation. The senseless clay got, or broke up, both the dry eradicate marker ink, and the paper ink. The ooze got, or broke down, the highlighter and unfit roller pen ink. Neither the senseless clay, nor the sludge, got or disintegrated the indelible marker ink. At the point when the ink was set on the channel paper and water was set in the container as the dissolvable, the highlighter and the roller pen ink were both broken up and pulled toward the wick. The indelible marker and the dry delete marker both ere unaffected by the water. Conversation, Data Interpretation, and Experimental Conclusions Seeing the outcomes in the tables above shows the extremity of both the inks and the solvents utilized. Water is a polar atom which bolsters the aftereffects of the chromatography too. The data of the water solvency of the inks utilized was given in the start of this test, and the data was confirmed by the chromatography, which indicated the inks that broke up in water. Both the highlighter and the roller pen were solvent inks. Knowing this, and in knowing the properties of water, implies they are, in truth polar. In the wake of seeing the sludge break up and get hints of both of these inks, it tends to be reasoned that the ooze is polar too. The paper ink, indelible marker, and dry eradicate marker were insoluble inks. The paper ink was not checked by chromatography, nonetheless, both the indelible marker ink, and the dry eradicate marker were; they didn't move over the channel paper when water was included. In observing that the senseless clay got the dry delete marker ink, and the paper ink, it tends to be reasoned that the senseless clay is a non-polar dissolvable. Mistake was found in my analysis in observing that the non-polar dissolvable didn't understand or get the indelible marker.
Tuesday, May 26, 2020
1 Introduction The post earnings announcement drift (henceforth PEAD) has been the most resilient and widely researched phenomenon since it was first noted over four decades ago by Ball and Brown (1968). This delay in prices assimilating earnings information poses a challenge to the semi-strong form of market efficiency which assumes efficient incorporation of new publicly available information into stock prices (Lui et al 2003). A number of explanations have been put forward to explain the PEAD phenomenon. Bernard and Thomas (1989) explained the phenomenon by two competing theories; 1) failure to adjust abnormal returns fully for risk (inadequacy of the CAPM) and 2) delay in response to earnings reports either due to failure by the investors to assimilate available information and/or that costs involved limits immediate exploitation of earnings information. Earlier academic research, on this phenomenon was based on the US market where PEAD was first observed, but eventually research was extended to other markets such as UK (Lui et al 2003), Spain( Forner et al, 2009) and New Zealand ( Troung, 2010). The findings across markets variedmarkets varied due to methodological issues, risk pricing models, behavioural models as well as country specific factors. This essay seeks to summarise and critically discuss the findings and explanations given by researchers on different markets about the anomaly drawing particular attention to methodological issues, risk pricings models and be havioural aspects. 2 Methodological Issues (International Comparisons) The way in which data is collected matters because it may lead to methodological problems and variance in results. Table 1 summarises the methodology employed in academic papers across different market. US and New Zealand papers used event time to track stock and construct portfolios, this method is subject to look-ahead bias and the requirement of cutting off values using deciles in early research design could be misleading. UK and Spain studies applied a calendar time method to fix these problems and provided an easy way of implementing investment strategies. Table 1 here? Earnings measurement variables are decided after the data collection. Though SUE probably is the most commonly used measurement for earnings, it can be calculated in very different ways in different circumstances. The selected US and UK papers standardize the unexpected earnings by its prior forecast errors, this adjustment allowed comparison of firms with different volatilities. Spanish study scaled the unexpected earnings with book value of equity at beginning of the year and New Zealand paper scale earnings with stock price prior the announcement to address the mispricing problem. Analyst forecast based measurement is also widely used, though this approach gives an investor a more timely comparison, biased analyst forecasts is always a serious drawback. Traditional method is to track the revision of analyst forecasts over time. In contrast, the New Zealand study tracks the gap between actual earnings and forecasted earnings presenting a new way to partially solve this problem. Studies across four countries all tried to explain the post earning drift with various risk factors. Original CAPM, Fama French three factor models and conditional versions of them are commonly used to address systematic risks impact on earnings. US study tested the significance of the overall economic influence using Chen Roll and Ross 1986 five factor model. Market macrostructure factors such as market value, firm size and book to market ratio are widely used and implied ways to track firms specific characteristics. As evident from the US and New Zealand papers, factors and models which are irrelevant to risk such as investors behaviour, momentum effect and transaction costs are continuously studied by researches. In Spain the investor conservatism bias model was applied along with the overreaction, the underreaction and the gradual-information diffusion model in order to explain post earnings drift from the behavioural finance perspective. Although researches conducted in these four countries have some similarities, different variables, procedures, and tests were applied to the area which is important from a researchers point of view. Due to differences in culture, institutional characteristic and market efficiency, its hard to standardize methodology and a claim cannot be made on which measurement is the most accurate.. 3 Test results for risk related models and factors Risk related models tried to regard post earnings drift as compensation for risk in the efficient market. The inadequacy of CAPM and other asset pricing models is widely tested worldwide. Differences in market depth, data limitation, errors of methodology and risk misspecification can result in inconsistent outcome across countries. Moreover, results can differ with the risk model prediction. Forner (2008) found a negative relationship between CAPM beta and PEAD profits in Spain while other countries showed a positive sign. In Forners study, arbitrage risk is positively related to the earning profits, which is contradicting to Mendenhalls (2004) conclusion based on US sample. Though results vary worldwide, most researchers conclude that risk is insignificant on return difference, and neither the systematic risk nor other risk factors are able to explain the PEAD phenomenon separately or jointly. PEAD effectively remains after the risk adjustment and in order to fully understand and explain the PEAD phenomenon, factors other than risks must be considered. 4 Behavioural Factors Based on US data Bernard and Thomas (1989) found that a large proportion of the drift was due to investors adopting a naive assumption that earnings follow seasonal random walk and failing to understand the correlation between current earnings and future quarterly earnings. The claim of naivety was refuted by Bartov et al (2000) who observed that the drift is smaller in firms that were largely held by institutional investors indicating more sophisticated investors than claimed by Bernard and Thomas. However, almost all investors are guided to some degree by psychological biases regardless of whether they are individual or institutional investors. Barberies et al (1998) posit that investors exhibit conservative behaviour and representative bias that leads to underreaction to earnings announcement. This suggests that investors seem to be conservative and do not act immediately to earnings news on the premise that the positive earnings growth is temporary and that it will eventuall y revert. For institutional investor, the delayed response probably can be explained by rule which put constrains on arbitrage and insider trading. Daniel et al (1998) departing from the underreaction based explanation hypothesizes that investors experience a combination of overconfidence and self attribution bias and tend to exhibit patterns of overreaction to privately sourced information which generate short-term momentum. On the other hand, underreaction to publicly obtained information will produce a long-term reversion in stock return. However, when this model was tested in Spain where the momentum effect is weak, there was no significant evidence showing the relationship between overconfidence and overreaction. This is because Spanish culture is regarded as less individualistic and people give more weight on public information thus exhibiting a low level of self attribution and overconfidence (Forner, 2009). Hong et al (1999) theory on the other hand presented a signifi cantly different theory based on interactions between heterogeneous agents namely the newswatchers and momentum traders and observed gradual diffusion of firm specific information which lead to initial underreaction and subsequent long term overreaction. Unlike in the US, the undereaction in Spain is not significant. This is due to the code law legal system and low level of investor protection, insiders have less limits to trade on the information they obtained and the price adjust quickly which weaken the momentum effect (Forner, 2009) 5 Conclusion Post earnings announcement drift phenomenon was observed across different markets since 1968 and although many academic studies were conducted and lots of trading strategies were applied, the anomaly persists. Different methodology is adapted across countries to measure the magnitude of post earning drift. Though more and more proxies are used, each measurement has its own shortcomings. Differences in market efficiency, market depth and transparency and accounting regimes may lead to biased measurement starting from the data collection stage. Risk factor models try to explain the post earnings announcement drift under efficient market hypothesis and the effectiveness of model is largely dependent on market specific features. Difference in media coverage could influence the information dispersion and delay investors response to share price. Return is also affected by country specific macroeconomic indicators, market size, regulation on insider trading and speculative activity. Even in US and UK where the markets are more efficient compared to other countries, the risk models failed to fully explain the drift. Behavioural approaches address the persistence of drift from a different perspective based on investors sentiments, heuristics bias and limits to arbitrage. Nevertheless, investors behaviour varies due to cultural differences and their sophistication level. Although most investors may suffer from overconfidence bias, investors in highly individualistic cultures may react to earning announcement differently than those from low individualistic culture. Limits to arbitrage put constrain on investors early exploration of earnings announcement and increase the difficulties in correcting the anomaly. Because of the differences in market and behavioural factors, no standardize approach can be used. Therefore, strategies aimed to exploit benefit from the post earnings announcement drift should take into account countries specific features. References Ball, R. and Brown, P. (1968) An empirical evaluation of accounting income numbers, Journal of Accounting Research, 6, pp. 159-178 Barberis, N., Shleifer, A. and Vishny, R. (1998) A model of investor sentiment, Journal of Financial Economics, 49, pp. 307-343 Bartov, E., Radhakrishnan, S., Krinsky, I., 2000. Investor sophistication and patterns in stock returns after earnings announcements. The Accounting Review 75, 43-63. Bernard,V., K.Thomas., (1989), Post Earnings Announcement Drift: Delayed Price Response or Risk Premium? Journal of Accounting Research, Vol.27, pp.1-36 Cameron Truong, Post earnings announcement drift and the roles of drift-enhanced factors in New Zealand, Pacific-Basin Finance Journal, Volume 18, Issue 2, April 2010, Pages 139-157 Chan, L., Jegadeesh, N. and Lakonishok, J. (1996) Momentum strategies, Journal of Finance, 51(5), pp. 1681-1713. Daniel, K., Hirshleifer, D. and Subrahmanyam, A. (1998) Investor psychology and security market under- a nd overreactions, Journal of Finance, 53(6), pp. 1839-1885. Forner, C., Sanabria, S. and Marhuenda, J. (2009) Post-earnings announcement drift: Spanish evidence, Spanish Economic Review, 11(3), pp. 207-241. Forner, Carlos and Sanabria, Sonia ((November 1, 2009): Post-Earnings Announcement Drift in Spain and Behavioural Finance Models European Accounting Review Forthcoming. Available at SSRN: https://ssrn.com/abstract=1498029 Foster, George, Olsen, Chris, Shevlin, Terry, 1984. Earnings releases, anomalies, and the behaviour of security returns. The Accounting Review 59 (4), 574-603 Hong, H. and Stein, C. (1999) A unified theory of underreaction, momentum trading, and overreaction in asset markets, Journal of Finance, 54(6), pp. 2143-2184 Liu, Weimin, Strong, Norman, Xu, Xinzhong, 2003. Post-earnings-announcement drift in the UK. European Financial Management vol 9(1), 89-116. Richard R. Mendenhall, 2004. Arbitrage Risk and Post-Earnings-Announcement Drift, Journal o f Business, pp. 875-894 Foster et al (1984) also concurs with this reason Ball Brown(1968), Foster et et al(1984), Bernard Thomas(1989)
Saturday, May 16, 2020
Sample details Pages: 10 Words: 3074 Downloads: 1 Date added: 2019/02/20 Category Literature Essay Level High school Tags: To Kill a Mockingbird Essay Did you like this example? The novel To Kill a Mockingbird take places in the sleepy Alabama town of Maycomb where the Finches live. The narrator of the story is the youngest child of the two children of the Finches, a little girl named Jean Louise Scout Finch. The story is happening during the time of the Great Depression. DonÃ¢â¬â¢t waste time! Our writers will create an original "To Kill a Mockingbird: Plot Overview" essay for you Create order Scout lived with her father and her brother. Her father, Atticus Finch is a lawyer with high moral standards at the time. Her brother, Jeremy Atticus Ã¢â¬Å"JemÃ¢â¬ Finch who is four years older than her is a curiously and athletic young boy. Her family is considered wealthy compared to others. One Summer, Scout and Jem met up with Dill, Charles Baker Ã¢â¬Å"DillÃ¢â¬ Harris a boy come to the neighborhood on summer, and become friend with him. They play together and exchanged stories. Dill got hooked by the mysterious of the story about Boo Radley, Arthur Ã¢â¬Å"BooÃ¢â¬ Radley a mystery of the town. The next summer Dill came back, and three were trying to take a look at Boo this time but got stopped by Atticus. He told them to think from another personÃ¢â¬â¢s perspective before they do anything. But, on DillÃ¢â¬â¢s last day of summer at Maycomb, the three of them sneaked into the Radleys property and got a warning shot by Nathan Radley, BooÃ¢â¬â¢s brother. They immediately escape from there but JemÃ¢â¬â¢s pants got stuck and left back at the Radleys fence. When he gets back to take it the pants was mended where its torn and neatly folded hanging over the fence. Scout goes to school for the first time that fall and she hates it. The following winter, Scout and Jem also experience another mystery consider to be Boo Radley. They consistently found a mysterious gift from a certain treeÃ¢â¬â¢s knothole near the Radley house. When they tried to communicate with the mystery giver by leaving a note at the tree, they find themselves looking at BooÃ¢â¬â¢s brother plugged up th e knothole with cement the next day. On the coldest time of winter, Miss Maudie Atkinsons house catches on fire, ScoutÃ¢â¬â¢s favorite neighbor. While she and Jem, shivering, watching Miss MaudieÃ¢â¬â¢s house burning to the ground near Boo Radley house, someone gave her a blanket over her shoulders. When she comes back home she then found out it was likely Boo Radley who gave her the blanket. Atticus take a case to his hands. He, as a lawyer of the town, has been appointed to be a defender for a black man named Thomas Ã¢â¬Å"TomÃ¢â¬ Robinson who has been accused of raping a while young lady named Mayella Violet Ewell. She is from the Ewell family which is a low layer citizen, some even call them Ã¢â¬Å"trashÃ¢â¬ , of the town. Because of this, the Finches received harsh criticism from some heavily racist of Maycomb. Despite knowing this case is almost impossible to win, the white jury at the time will never believe a black manÃ¢â¬â¢s words over a white girlÃ¢â¬â¢s, Atticus took the case it. He knows Tom is innocent and against all the odds he still wants to prove it. When Atticus, Jem, and Scout came to the family Christmas gathering Scout beat up her cousin Francis when he called her father a Ã¢â¬Å"nigger-loverÃ¢â¬ and that he is ruining the family name. Calpurnia, the Finches black cook, took Scout and Jem to a local black church, there were some shocked bu t at the end, they warmly embraced the children. At Maycomb, Jem cut off the tops of an old neighbor ladys, Henry Lafayette Dubose, bushes. He got punished by Atticus for this and he has to read for her out loud six days a week, two hours per day, for a month. When Mrs. Dubose died Atticus revealing to Jem that he was helping her to break her morphine addiction. Atticus has shown him that what Mrs. Dubose is what real courage is, the will to fight a fight that you knew you canÃ¢â¬â¢t win, and not a man with a gun. The next summer, AtticusÃ¢â¬â¢s sister, Alexandra Ã¢â¬Å"Aunt AlexandraÃ¢â¬ Hancock, come to live with the Finches. She is a proper and old fashion lady, and she wants to shape Scout into a Southern feminine ideal woman like her. At this time Dill ran away from his family to Maycomb, because of his mother and new father donÃ¢â¬â¢t seem interested in him. He stayed at the Finches house when TomÃ¢â¬â¢s trial getting close. The night when Tom moved into the county jail to receive the trial. Atticus guarded outside the jail to prevent the possibility of lynching. Jem and Scout caught up to a hunch and sneak out of the house, Dill followed them, to check on their father. While they were looking at Atticus, a mob gathers in front of the jail door and told Atticus to let them lynch Tom and also threaten Atticus. Jem senses som ething and ran to Atticus along with the others. Jem recognized one of the men from the mob and asked politely about his son, and thanks him. This made the man answer to her and bring the crowd out of their mob mentality, and dispersing the mob. The trial has come, Atticus told the children to stay home but sneak out to the court and got a sit in the Ã¢â¬Å"colored balconyÃ¢â¬ along the black community. The court started with the Ewell family telling the story as Tom got called by Miss Mayella to do some work, but instead of doing the work Tom jumped on her forcefully beat her up and rape her. Then ran when her father, Robert E. Lee Ã¢â¬Å"BobÃ¢â¬ Ewell, appeared. Tom told a different version of the story as Miss Mayella tried to kiss her by hugging him from behind and this made him scared and ran away while her father burning in rage when he saw it. The Ewells testified that Tom beat Mayella by his left arm but in reality, Tom left has been dysfunctional from a long time ago due to an accident. TomÃ¢â¬â¢s innocent was clearly shown by this. Atticus call out for everyone in the court as they should not be blind by racism and they should do what is right. But still, all of the white-jury pronounced Tom is guilty. While Atticus told Tom that there is still a high chance the higher up of the country will believe his innocent and let him free, but Tom couldnÃ¢â¬â¢t wait and tried to escape out of jail. Tom was shot to death. This incident made Jem doubt about heavily justice around him. After the court, Bob Ewell loses his job. This brings Bob to tried to get back on everyone connected to the court. He threatening Atticus that he will not let him be for humiliated him in the court and vows revenge. He also tried to break into the JudgeÃ¢â¬â¢s, Mr. John Taylor, house. He even attempted to do something to TomÃ¢â¬â¢s wife but couldnÃ¢â¬â¢t because of TomÃ¢â¬â¢s former employer, Mr. Link Deas, said that he will put him in jail if he tries to walk near her or his property. On Halloween, Scout and Jem go to a Halloween party but on their way home, they heart someone follows them. It was Bob Ewell, he tried to take revenge on the Finches children. He knocked Jem unconscious and tried to stab Scout with a knife but got stop by Boo Radley. While struggle with Boo and receive a fatally wound. Scout and Jem went back to their him with Boo carrying Jem. Atticus took care of Jem and called the doctor and rep ort this to the police. Mr. Tate comes back after investigating the scene and said that Bob is dead. This made Atticus consider for a court for his son and BooÃ¢â¬â¢s legal defense but Mr. Tate stops him. They arguing and Mr. Tate says he might be not much but tonight Bob Ewell fell on his knife, then went away with his car. Atticus sat down and ask Scout does she understand what just happened. She said that she understands that Mr. Tate was right. Atticus surprise and asked her what did she mean. She says that itÃ¢â¬â¢d be like shooting a Mockingbird. Atticus regain his smile and thank Scout. Scout then walks Boo home while imagining how Boo views this town, she and her brother. Boo went inside his house and never appear in front of Scout again. But to Scout, he is now a human being, a kind one, and not a scary mystery of Maycomb. She then went back home and let Atticus read for her till she sleeps. 2. Focused Character 2.1. Jean Louise Ã¢â¬Å"ScoutÃ¢â¬ Finch In To Kill a Mockingbird, Jean Louise Ã¢â¬Å"ScoutÃ¢â¬ Finch is the narrator of the story. She is an American wh ite girl. The story begins with Scout being six years old. She lives with her father, her brother, and their black cook in Maycomb. She is intelligent and be able to make logical conclusions inside her head were clearly the influent of her father, Atticus. We could considerate that Scout is more intelligent compared to the kids her age and is a tomboy girl by the standard of Maycomb. Even so, Scout is naive and extraordinary curious about her surround because of her inexperience. This cause Scout often fights with her brother Jem. Scout character changed over time by the teaches of her father and interact with her surround. She believes in justice but it got shattered when her father loses the court of Thomas Ã¢â¬Å"TomÃ¢â¬ Robinson. This changed her point of view and made she rethinks every action she took. In the beginning, Scout is an iconic tomboy where she solves everything with her fist. The part where she jumps on Walter Cunningham when the teacher mad at her, made the reader feel how Scout is just like every child blame on others, not themselves. Her rough image as a Ã¢â¬Ëlet the fist do the talkingÃ¢â¬â¢ is strongly appear here when she doesnÃ¢â¬â¢t scream or crying but just go straight to pick her fist as a solution resolver. This habit became rather sad when she hit Dill just because he didnÃ¢â¬â¢t pay attention to her. It is as if she still doesnÃ¢â¬â¢t know how to express her feeling in another way. But it is also made her strong a nd bravery, like how she decided jumps into the lynch mob to save her father. Even so, these behaviors made her father, Mr. Atticus, worries from the beginning of the story. Atticus needs to step in and talk to her when she started another fight with the subject about him. When he asked her to not fight and endurance it. ScoutÃ¢â¬â¢s respect for her father is so strong that it could make her conceals her own personality when she dropped her fist and walk away from a fight. She even feels noble just because she did what he ask him for three weeks, without the need of praise from Atticus. After experience three weeks of no violent Scout grown up as a bit. She learned that not everything needs to solve by her fist, but she showed us that she still not entirely throw the ideals all away when she said she would fight anyone who dares to pick a fight with her. As a tomboy as Scout is she still has a hard time when its come to get except by social. When Aunt Alexandra comes live with the Finches she forced Scout to change into an elegant lady. Her Aunt changed Scout clothes from pants to skirt made it hard to run, climb the tree or fight like the way she was before. Scout was angry and rebel against her aunt but after the courthouse of Tom, she starting t o see the role of an elegant woman in a new light. By looking at her role model Aunt Alexandra and Miss Maudie shocked at the dead of Tom but still could get over it and calmly having a tea party, not bursting into tears. Scout now look at the role of a lady is to have courage than just wearing girly dresses or cooking in the kitchen. The willpower that just likes of her fatherÃ¢â¬â¢s, the person she respects the most. This erases the hate of Scout for her gender. ScoutÃ¢â¬â¢s personality developed the most when it comes to the story with Boo Radley. At first, she is curious about his existent and fear of the unknown at the same time. As the story moves on Scout started to interact with Boo more, like when they receive gifts from him in the knothole of the Radley tree or when Boo gave her a wear in the cold winter, and this changed her feeling about the person named Boo Radley. Its changed from blindly scare of the unknown to think about the unknown. Scout started to wonder what is the characteristic of Boo and what is he think stayed inside the house for years. After the courthouse of Tom, Scout has known what seen real evil, made she think on her own about the monster everyone called Boo, among human. She then under that Boo is no monster, not like the monster she saw, but just a poor man. When Boo Radley saved her brother from Mr. Bob Ewell, she realizes that the person everyone called a monster and fear was just a kind man. She at the be ginning was just like others who believe in gossip and rumor changed her ideas and understand about the world. The four years of Scout wrote in the book, show us the rapid change of a child in their growing process. Scout was just a tomboy girl, kicking and punching, made her fist do the talking at the start. Then changed to a girl who thinks that not everything needs to solve by her fist. ScoutÃ¢â¬â¢s hates for her gender as a weakling lady changed to the image of respectable strong and determined, the strength of willpower and composure like Atticus. She realizes what is think is rightful and justice are not always true, the world is not just black and white of kind neighbor and evil Boo, but it is complicated. She needs to see it with her eyes and think to truly understand it. The character Jean Louise Ã¢â¬Å"ScoutÃ¢â¬ Finch has been described as if she is the evolution that human needed at the time. The equal in races and the logical head to think before judge others. We could understand that Scout made the right conclusion for everything she experience and induce. Also, we could see that Harper Lee intentions are everywhere in Scout eyes. 2.2.Jeremy Atticus Ã¢â¬Å"JemÃ¢â¬ Finch Jeremy Atticus Ã¢â¬Å"JemÃ¢â¬ Finch is ten years old when the story started, 4 years apart fro m his sister. He is a typical American boy who interests in football and guns. As a child of Atticus, he is composure and smart. But still, as a child, he is naive and inexperienced about the world. He also shows his emotional side when he misses his mom or shock about the court of Tom. JemÃ¢â¬â¢s character changes through the eyes of the narrator, his sister, Scout. As a big brother, he is calmer than Scout, he stops Scout fights. He usually plays with Scout but when the story moves on he stops playing with her. Still, as her brother, he looks after her but in a bossy way. His ideas about justice, evil and goodness, shattered due to the trial of Tom. This makes he became extremely emotional when Scout mention the subject. At the same time, it made him understand the true meaning of the society, the mass decide the truth. At the begging of the story, Jem is described as a brave kid. He a typical American boy who never back down on a daring challenge. He prefers physical bravery and holds no pride for his father who never plays sports or possesses a gun in front of him. He believes that to earn respect one must always show other his strong side. This idea changed when he saw At ticus take out the mad dog with a gun, then learned that his father was Maycomb best shooter. He now learned that humble is more important than pride. Then, he comes to interact with Mrs. Dubose for a month. When he learned she was fighting her own battle against drugs, his ideas about true bravery changed again. He learned that besides bravery, physical, there is also courage, mental. Atticus teaches him to not holds the idea of a man holding a gun is brave but a woman who took a fight that she canÃ¢â¬â¢t win is one. Jem still believes that this world is only about right or wrong, and the right always win. The night when Atticus watched Tom jail. He saw his father bravely stand alone against the racists, the lynch mob. He also saw his sister was the first one who ran to protect their father. The idea about the good will win enforced when he saw his sister dis group the mob. When the court of Tom ends, his ideas about the world changed. He has seen real evil in plain sight and saw the justice lose. He learned that what the mass believe will become the true, and one individual canÃ¢â¬â¢t easily win against it. This became a bit of a trauma for him, but at the same time strengthened his understanding of society. Through the eyes of Scout, we see Jem mature through time but got shaped by his father. As the story progress, we can see that Scout does not think much about his brother but we can still conclude that Jem learned that bravery is not just about physical but also about the courage to took a fight that one canÃ¢â¬â¢t win. He learns physical Ã¢â¬Å"braveryÃ¢â¬ need the mental Ã¢â¬Å"courageÃ¢â¬ too. Finally, he learned that the world is not about just black and white. That to be like his father, he needs to have the courage to fight against all odds. He graduates from a naive young boy to a mature man who understands the complicated problem of the world.
Wednesday, May 6, 2020
Sins of the Father The movie Ã¢â¬ËBoy in the Striped PajamasÃ¢â¬â¢, based on the book by John Boyne, isnÃ¢â¬â¢t exactly a feel-good film, but it is an awesome representation of the existence of good and evil, and the responsibility we have as human beings to distinguish between the two; for it is responsibility that distinguishes us from every other being. In my opinion, this is an important, life-changing film, with a significant message, and should be seen by all. The movie is told from the point of view of eight year old Bruno whose innate sense of morality and justice ultimately makes him the fallen hero of the story. The premise of the movie focuses on a friendship that develops between Bruno and Shmuel, also eight, and a victim of theÃ¢â¬ ¦show more contentÃ¢â¬ ¦Standing up on the swing to get a better view, he falls off of the swing and scrapes his knee. Pavel, runs to help Bruno, takes him inside and bandages his knee. Pavel, assuring Bruno that he will be just fine , sits down and begins to peel potatoes. Bruno then replies How should you know, youÃ¢â¬â¢re not a doctor, youÃ¢â¬â¢re a farmer. Pavel responds, Ã¢â¬Å"I was a doctor before coming hereÃ¢â¬ . Bruno is confused why the man would give up being a doctor to work on the farm and peel potatoes. Later that week, Bruno sneaks out and finds a door leading to a shed; he opens the window inside and gains the freedom he has been longing for. Bruno begins his exploration of the woods outside the compound. He runs quite a ways until he stumbles upon a large barbed-wire fence surrounding the farm. This is where he and Shmuel, the boy in the stripped pajamas, meet for the first time. Although separated by a fence, the boys talk and joke and get to know each other. A whistle blows and Shmuel must go, but the new friends say they hope to meet again soon. As weeks go by, Bruno continues to sneak away from the compound and the two new friends meet time and again. Bruno usually brings snacks and Shmuel speedily eats what he is given. Bruno is very curious about his new friend and continues to ask him questions about his life on the farm; he asks why they wear pajamas all day, and what the numbers on them mean. Shmuel tells him Ã¢â¬Å"because the soldiers took ourShow MoreRelatedAnalysis of the Film The Boy in the Striped Pajamas Directed by Mark Herman817 Words Ã |Ã 4 PagesThe best fictional movie of World War II is Ã¢â¬Å"The Boy in the Striped PajamasÃ¢â¬ directed by Mark Herman. The movie is based on the novel written by John Boyne and the story is told from a German childÃ¢â¬â¢s view during the Holocaust. The general message the director and writer so vividly portrayed is that of a childÃ¢â¬â¢s innocence and young friendship. 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Ã The Boy in the Striped Pajamas is an accomplished film made with incredible characterRead MoreBoy in Striped Pajamas1470 Words Ã |Ã 6 PagesIn Striped Pajamas : A Movie Analysis The film is an emotional experience highlighting the tragedy of innocence, using the point of view of an eight-year-old German boy to expose the raw psychological devastation of the era. Its an unnerving film with a knockout punch for an ending, but it feels more acceptable as an educational piece than a profoundly rewarding work of drama. This movie is based on a book that goes by the same name, The Boy in the Striped Pajamas, written by John Boyne. DirectorRead MoreAn Analysis Of John Boyne s The Boy s The Striped Pajamas 1503 Words Ã |Ã 7 PagesTitle: The Boy in the Striped Pajamas Author: John Boyne Publication Date: January 5, 2006 I chose this book because (respond in at least 2 sentences): I have watched the movie many times and I always wanted to know which was better and what the difference between the book and the film. Connecting with Character: Protagonist Bruno How do you relate to this character? Similarities Differences Beginning: Bruno wanted to meet Shmuel and become friends with him at first sight; He wanted to playRead MoreThe Boy in the Striped Pyjamas Portfolio6447 Words Ã |Ã 26 PagesTable of contents Introduction | 3 | Book report | 4 | Main characters | 5 | Themes | 7 | New book covers | 9 | Words and Phrases | 10 | Reflection | 11 | Film review | 12 | Interview | 14 | Song interpretation | 16 | Peer assessment | 18 | Vocabulary | 20 | Self evaluation | 22 | Introduction This portfolio documents my dealing with the book Ã¢â¬Å"The Boy in the Striped PyjamasÃ¢â¬ , written by John Boyne, and the corresponding film, which was released in 2008. The reason I
Tuesday, May 5, 2020
Question: Discuss the role an entrepreneur plays within an existing company and his/her own venture. Explain and evaluate a range of characteristics and skills which are necessary to become a successful entrepreneur. You should support your arguments with evidence from reading. Likewise you should illustrate your points with examples of well-known successful entrepreneurs. Explain how the necessary characteristics and skills helps the entrepreneur fulfil his/her role. Answer: Introduction- Entrepreneurship is basically planned for high school students and juniors, together with non-business student, who want to study about entrepreneurship, its function and value in our civilization, and how to get latest thoughts to marketplace both in the set up and business situation. This is an initial way proposed to offer students with a solid basis on how entrepreneurs and entrepreneurship play a key function in the 21st century overall economy.(Business, news and politics ,2012) In the lessons, we will judge, survey, and analysis the globe of entrepreneurship. Entrepreneurship is approached as a manner of view and performing, as thoughts and a manner. The attitude focus will be on the design of new offers, the ways that they appear into being, and factors related with their achievement.(Berry.T n.d.) The roles of the entrepreneur- The role of an entrepreneur is to handle risk factors for establishing a service or goods in the market place. Moreover, an entrepreneur takes every possible opportunity from the market for gaining competitive advantages.(B ,2005) Entrepreneur as risk- taker- Entrepreneur is a person who has the ability to take high risk for financial gain. In addition, an entrepreneur has the ability to predict the efficiency of the implemented strategy for understanding that whether the risk factor will be under control or not. Entrepreneur as business manager- Entrepreneur as a business manager create a border line between the management and the entrepreneurship. Entrepreneur with the productive services, inserting their own persons and property / assets at the clearance of the entrepreneur who can guarantee at a fixed compensation. The final profit amount is based on a scope of error in calculation by the entrepreneurs and non- entrepreneurs who do not compel the entrepreneurs to pay as much amount for the productive services they could be compelled to pay. (J ,2012) Entrepreneur as an exceptional leader- As an exceptional leader, he has to take care for the return on risk taking, capital use and production effort and ability or asset specificity. A successful leader should select supporters cleverly and apart from that, he should control the followers in an effective manner. In order to gain effective and exceptional outcome, a leader should seek innovative ideas from the followers. However, the leader should take the final decision for avoiding unnecessary crisis. (A ,2010) Entrepreneur as a viewer/ restorer- Entrepreneur basic role is to achieve the kind of adjustment or changes necessary to move the economic market towards the stability condition. With the change of static condition like population growth there is a need of improved production technology and the mobility of the capital and labor is also necessary to restore the stability. Entrepreneur as an innovator- For the long term success and stability in the market an entrepreneur should be innovative. In order to be significant, competitive and more successful you need to reinvent and challenging yourself by finding out the ways and searching for the new options that can retain your customer back.(D ,2010) Characteristics and skills of an entrepreneur- Characteristics and skills are an important part or a self made quality an entrepreneur should have. These are the pillars for a successful building or in other words these are the main elements of success. These involve determination, hard work, efficiency, management of the entrepreneurs as well as their confidence. It also includes their risk taking factor for increasing business modules and selling and promotion part of the products and the services. They should be fully passionate towards their goals and should be upto the mark for their choice of decisions. In other words, they are the persons who can make or demolish any organization. Following are some of the characteristics and skills of a successful entrepreneur. Characteristics- There are certain characteristics, which are really important for the getting successful outcome. The most important characteristic of a successful leader is passion. If a person is really committed to his work and knows very well and deeply about it this is called passion. Achieving their goals is the main priority as compared to earning any amount. And another key of successful entrepreneur is self confidence. If you have a confidence in your ability to succeed than only you can overcome any problem. (J ,2007)You should always take a positive approach about all the things you have done or you have to do. Another qualities of a successful entrepreneur self reliant as they dont have to wait for others to tell or order them what they have to do. They are the self starter and very much confident about making the decision. Entrepreneurs have other qualities as well like the ability to complete tasks, the willingness for taking risk. Generally, an individual try to avoid risk factors but on the other hand, self-confidence of an entrepreneur assists them to take the challenge. Apart from that, an entrepreneur understands that risk is a natural part of achieving goals. Another quality of entrepreneurs is creative. An entrepreneur tries to seek for innovative ideas for doing things. Finally, the entrepreneurs are courageous for learning new things. Entrepreneurs build a learning environment for learning new things from other people. These are some of the characteristics a successful entrepreneur should have for a successful career. Plan everything is an important characteristics as in business planning it is required to evaluate the business situation, research, compilation of data and conclusion based on the facts. Planning also includes the success of each small and individual plan to make it a big success as a whole.(T ,2015) Creating a competitive advantage is vary healthy nutrients for any of the business as it is the unique selling point by providing more advantages. It includes services, warranty, flexible payment options, lowest price, better consumer services and exchange benefits. Follow up constantly is an important aspect as it enables you to turn viewers into the consumers and also increases the value of sale and purchase from the existence consumers. Constant follow up helps to retain the consumers and keeping them joint with your business and providing them the products and services for a longer duration of time which further helps to make a strong business relationships. Skills- Entrepreneur should have some skills which help them to have a great success like- Ability to plan is the main skill for an entrepreneur as they must be able to develop a plan for achieving their goals including all the departments like finance, marketing production and hiring the productive and satisfied employers.(J ,2012) Communication skills are important as an entrepreneurship, he should be able to explain, discuss and sell their goods and services only through a good communication. And entrepreneur should be able to effectively interact with his business team. They should express themselves very clearly and they have strong interpretation, knowledge skills to understand forms of written business communication. Marketing skills is also important as an entrepreneurship. A company achievement or stoppage is all-dependent on whether the company reaches the market, advantage the marketplace and effect in those in the marketplace choosing to purchase. Most of the failure entrepreneur has started with new services or goods and apart from that, the marketing strategy for the new offerings were not effective to attract consumers. In order to get successful outcome from the implemented strategies, an entrepreneur should implement effective marketing strategies. Entrepreneur should have some good inter personal skills, to maintain the healthy relations especially with the people they interact like customers, clients, employees, investors, lawyers and accountants as well. Healthy relationship is the main bridge which covers the gap of success. (J n.d.) An entrepreneur should have the complete basic knowledge of the resources and to use them effectively. An entrepreneur must be able to manage every section of the business and they must make sure that all the positions including managers in their business are occupied by the efficient people. Team building skills is a important skill of entrepreneur. In team building entrepreneur is the leader, as he has to build the team with efficient team member for achieving organizational goals and objectives. In order to achieve the objectives successfully, it is highly important to implement effective leadership approach. It helps the leader to manage the workforce in an effective manner. A leadership skill is very important for an entrepreneur to be successful. A leader should create and promote a strong vision of the company among the employees. In order to motivate the company employees, the leader should reciprocate with the workforce regarding their issues. Focus for the target is very much important to ensure the business success. Strength and weaknesses of an argument using examples- Following are some of the strength and weaknesses of an argument using examples- Pay attention to your customers first- It is an example of Jon Beekman a graduate from Stanford graduate school of business is the CEO and founder of Man Crates. It is about paying attention towards your customers and a concept of what the customer needs. In order to understand changing needs and requirements of the consumers, it would be better to establish a direct communication with the consumers. Customers are the main priority in making a company successful and respectful. Tomorrow is always another day- It is an example of Scott Gerber TV commentator, a serial entrepreneur and founder of young entrepreneur council (YEC). This concept emphasizes that failure influences people to do better for achieving the same objective. Now I always reduce the possible chance of stoppages by reducing the problem. Therefore, we obtain backup faster and stronger when we do face a set beck.(W ,2014) Stability of your carrier is under your control- It is an example of Kristi Hines, who is a ghostwriter, freelance writer and a professional blogger. I am the kind of person, who has applied for a job for which I was not interested. However, I have applied that job for getting a security of job. I felt it was just because I was no truly passionate about my carrier. I have learned that you should have a passion that has the power to work more. Other examples of Entrepreneurs- Bill Gates, founder of Microsoft. Steve Jobs, co-founder of apple. Mark Zuckeberg, the founder of Facebook. Pierre Omidar, founder of Ebay.(J ,2015) Linkage between the role an entrepreneur plays and necessary skills and characteristics- It is an important link among the role of an entrepreneur plays and the essential entrepreneurial characteristics or skills. It was resolute that entrepreneurs normally have high entrepreneurial characteristics and by provided that an exact management to make it the best makes use of these characters for the industrialization and the growth process can be fast and strong. Entrepreneurs natures are tested in conditions of both opening a business and their result on the kind of rights. Characteristics of entrepreneurship have been resolved as being modern, threat taker and artistic, having idea and ability of flexible functioning and being focused on top level of working. Entrepreneurs have to apply all these qualities to make development of the business on the right track and to make it more successful.(M ,2012 Conclusion- Initial stage of a business is very difficult, time consuming and life changing. There are many more things that go into in sequence than directly provided the goods or service that your business offers, you will also be liable for your business assets, caring your business and individual resources, maintaining your business official, paying taxes, maintenance report, supervision staff and more. Characteristics of entrepreneurship have been resolved as being modern, possibility user and artistic. (Davidsson ,2008) Bibliography A, T 2010, 'Role of the enterpreneur', The Three Roles of Great Entrepreneurs. 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