The Uk Has a Multi Party System Rather Than a Two Party System

The UK has a multi- party system rather than a two party system. Discuss. A political two party system is one where two parties have complete dominance over voting, in terms of seats and the general vote. The multi- party system however describes a system where more than two parties have the ability to win role as government. In this essay I will give a balanced argument on whether Britain is a two party, or multi- party system.Throughout a significant period in history, 1945-79, a two party system was obviously predominant; the Labour and Conservative parties being the only two with the possibility of achieving majority vote and therefore forming a government. People voted for the party which represented their social class e. g. Conservative for middle class and Labour for working class. The clear distinction between which social classes would benefit from the two parties rule kept these two parties as a high percentage of the vote. In the elections leading up to 2005 Labour and Con servative seats were a significantly high number compared to other parties e. . in 1992 Conservatives had 336 seats, labour-271 and other parties 44, meaning no other party had a real chance of winning, no matter what the vote favoured, which incidentally also supported the two dominant parties with 41. 8% Conservative votes, 34. 2% Labour votes and only 19% of votes for other parties. The structure of the House of Commons also supports this idea because the two main parties sit on opposite benches in parliament, creating a government vs. opposition system, where the two main parties move between these two seats, currently with Labour as the opposition.The first-past-the-post voting system also supports this idea because it doesn’t allow smaller powers a chance for a place in power, as they don’t have enough MPs in comparison to stronger parties. Although, the Liberal Democrat’s seats in parliament have increased significantly, if it weren’t for the votin g system, their numbers are likely to have doubled. Although people have started to look towards more minor parties such as the Green Party who want to deal with important current issues such as war, as well as their main focus-the environment, these parties are still not gaining enough votes or seats to make them significantly prominent.This leaves the continuation of two ruling parties. It could be argued, however, that the two party system which was once in place is declining, meaning more parties have a realistic chance to achieve role as government. In the last thirty years the support for the Conservative and Labour parties has been gradually decreasing, leaving them with only 67% of the vote at the 2005 general election, which was the smallest percentage they’d gained since 1918.This is an example of partisan dealignment because the working class started to transfer their party support to Conservative instead of Labour. The Liberal Democrats support was significantly i ncreasing, leaving them with 22% of the vote in the 2005 election as well as 62 seats. Their seat numbers had been increasing since 1974 when they only had 14 seats in parliament, suggesting a change in the dominance of only two parties. Today, the Liberal Democrats, who haven’t been considered a main party since, are currently the weaker part of a coalition government, with Labour in opposition.This shows a clear end to the two party system, with three parties in significant places of power. Despite the two party voting system which has been practiced in different regions since 1997, a multi-party system still exists in the House of Commons because three parties currently have the majority of party power, meaning that it is the main structure of the UK party system. The current coalition government includes the Liberal Democrats who have not recently been considered as one of the two major parties.This shows that the two party system is no longer in place; which suggests tha t in the future more coalition governments could completely eliminate the two party system for good. Although it can be argued that the UK has a multi- party system at government level, a two party system seems to exist in different regions. For example, the two dominant parties in London are Conservative and Labour, whereas in the rural South it’s Conservative and Liberal Democrats.Therefore as a country the UK does not represent the two party system or multi- party system, examples of both can be seen in different political areas. To conclude, a balanced argument can be drawn in response to this statement but I personally believe, although in the past a continuing trend of a two party system has existed, today this system is declining, with Conservative, Labour and Liberal Democrats as the primary parties.

Crime Against Women Essay

Although, women may be victims of all kinds of crime, be it cheating, murder, robbery, etc., yet the crimes in which only women are victims and which are directed specifically against them are characterised as â€Å"crime against women†. Broadly, crimes against women are classified under two categories: (1) Crimes under the Indian Penal Code (IPC), which include seven crimes: (i) rape, (ii) kidnapping and abduction, (iii) dowry deaths, (iv) torture physical and mental (including wife battering), (v) molestation, and (vi) sexual harassment, and (vii) importation of girls. (2) Crimes under Special and Local Laws (SLL), which include seventeen crimes, of which the important ones are: (i) immoral traffic (1956 and 1978 Act), (ii) dowry prohibition (1961 Act), (iii) committing Sati (1987 Act), and (iv) indecent representation of women (1986 Act). It is equally important to clarify the concept of ‘violence’ against women. If we take ‘violence’ as â€Å"conduct which incurs the formal pronouncements of the moral condemnation of the community,† or â€Å"deviation from conduct norms of the normative groups†, the scope of cases of ‘violence against women’ becomes too broad. Narrowly, the term ‘violence’ has been applied to â€Å"physically striking an individual and causing injury† (Kempe, 1982; Gil, 1970), to â€Å"the act of striking a person with the intent of causing harm or injury but not actually causing it† (Gelles and Strauss, 1979), to â€Å"acts where there is the high potential of causing injury† (Strauss, 1980), and to â€Å"acts which may not involve actual hitting but may involve verbal abuse or psychological stress and suffering†. Megargee (1982: 85) has defined violence as the â€Å"overtly threatened or overtly accomplished application of force which results in the injury or destruction of persons or their reputation.† While understanding the concept of ‘violence’ and distinguishing it from concepts like ‘aggression’, ‘force’, and ‘coercion’, is both necessary and desirable, there is always the fear of getting bogged down in controversies relating to these concepts raised by various scholars. As a result, one may miss the very purpose of understanding broader aspects of the problem of â€Å"crime and violence against women†. ‘Violence’ must be recognised as a human phenomenon inasmuch as it consists of an act of one person which encroaches upon the freedom of another (Domenach, 1981: 30). Here, we consider the operational definition of violence as â€Å"force, whether overt or covert, used to wrest from the individual (the woman) something that she does not want to give of her own free will and which causes her either physical injury or emotional trauma or both†. Thus, rape, abduction, kidnapping, murder (all cases of criminal violence), dowry death, wife battering, sexual abuse, maltreatment of a widow and/or an elderly woman (all cases of domestic violence) and eve-teasing, forcing wife/daughter-in-law to go for feticide, forcing a young widow to commit sati, etc. (all cases of social violence), are issues which affect a large section of society. In the analysis of the problem of ‘crime against women’, we may focus on important issues like nature and extent of female crime in India, on identifying women who are generally victims of crime and violence, on those who are the perpetrators of crime and violence, on what motivates criminals to commit crimes or victimisers to use violence, and on measures which could contain the depersonalisation trauma of the victims.

CORPORATE FINANCE Essay Example | Topics and Well Written Essays - 2000 words

CORPORATE FINANCE - Essay Example The beauty of capital asset pricing model (CAPM) is that it not only helps the investors to calculate investment risk but also gives them a fair expected idea about the return on their investment (Fabozzi Frank, 1998). In the following paragraphs we will discuss the CAPM, its general theory, limitations and the reason of its adoption in the market The CAPM was initially presented and developed by John Lintner, William Sharpe and Jan Mossin autonomously (Bernstein, 1992). During the period of 1964-66, the idea of CAPM was presented by them in three different and exceedingly valued journals. CAPM was considered as a misleading model at its early stage because the business community thought that professional investment management was mainly a misuse of time. This misconception about CAPM remained dynamic for next ten years. After a decade, investment experts came to know the CAPM and recognized it as a significant mean to assess the expected risk in the investment. Capital asset pricing model (CAPM) is actually financial and economic related model which determines the rate of return of an asset in a well-diversified portfolio and thus subsequently determines its value. Capital asset pricing model (CAPM), determines the price of an asset in association with reward-to-risk ratio. Here 2. Risk is the assets non-diversifiable risk (ÃŽ ²), also referred to as systematic risk, or market risk. The ÃŽ ² (beta) here is the measure of the risks involved in a particular stock or portfolio in relation to the overall market risk. A share’s beta factor is the measures of measure of its volatility in terms of market risk. The beta factor of the market as a whole is 1.0. Market risk makes market returns volatile and the beta factor is simply a yardstick against which the risk of other investments can be measured. Risk or uncertainty describes a situation where there is not first one possible outcome but array of potential returns. Risk is measured as the beta factor

How can we combine Homeric texts and archeology to learn more about Essay

How can we combine Homeric texts and archeology to learn more about elite behaviour in Greek Society What are the difficulties - Essay Example What they help archaeologies in achieving are the clues of the things they need to study. They provide a road map on what to explore and the direction to take in the study of these ancient remains. Among the clues that have been provided before are the study and the investigation of the ancient Greek world in the tradition of Schieman digging at Troy with the hand of Iliad. To enhance the understanding of the past human activities, archeologists often utilize classical texts in conjunction with archeology to understand past way of the Greek world. The study of the past is also instrumental as it helps archeologist in understanding the contemporary way of life in relation to the origin of human activities. This paper focuses on how classical text in conjunction with archeology helps in the understanding of the ancient and the elite behavior of the Greek society as well as the probable problems that are likely to be faced in the study of past and present human activities. ... He wanted that that entire he does to come out to be beautiful (Kardaras 2011). The narrative rivets this thought by explaining how Walt was dying for excellence. He always wanted the best products and always did awesome jobs. Through the narrative, it is also beautiful to learn that Walt’s craziness and obsession with aretes, excellence pushes him into the production of the purest meth (Ross, & Hook, 2006). During the moments of war, archeologists through the script and text analysis discovers that during the moment of greatness and war, Homeric heroes displayed the strength and the might of aretes during the war. In search of recognition and honor, Walt took his good time in the meth lab to come up with exceptional and the most refined weapons. The second value held by the Homeric that inspires Walt is Kleos: that is, the urge to personal glory and might. In other words, the Greeks wanted to be known for something. In this case the subject wanted to be known for arete. Throu ghout the story, it is evident that the major motive that drives one to work is the desire to achieve something significant. The Greek education and culture have been dominated by the pursuit of excellence and the urge to greatness: personal glory. The Homer’s and Illiad are paeans and pursuant of arete. These very urges and desires still dominate the contemporary Greek way of life. A noble and apos aretes in Homer, is indicated by the acuity of his prowess in war and the excellence of his weapon manufacturing. In athletics, he is seen as a person who is peaceful and admirable (Sissa, & Detienne 2000). Both of these occasions, war time and moments of peace are all of immense value in show casing the

Horizontal integration of industry in late 19C. Compare and contrast Essay

Horizontal integration of industry in late 19C. Compare and contrast Old & New school business historian's approach to explanin Carnegie & Rockefeller - Essay Example This essay compares and contrasts ‘Old School’ and ‘New School’ perspectives of horizontal integration. The old school perspectives on horizontal business integration emerged from theorists during the early part of the 20th century until the 1970s. This is contrasted with the new school forms that took on varying paradigms between the 1970s and the present day. The old school perspectives on horizontal integration largely emphasized biographical information of the participants. For instance, in the case of Rockefeller conflicting biographical perspectives on his life were considered, with one view emphasizing his contributions to social progress and innovation, and the other casting Rockefeller as a greed obsessed shark. One considers Rockefeller’s horizontal integration through Standard Oil as he systematically Within these perspectives historians such as Mathew Josephson labeled Rockefeller a ‘robber baron’ citing examples such as cheating and unfairness, as well as the diminished living conditions of many of the lower-tier workers involved in his operations. Sti ll, other theorists herald these actions as cutting edge entrepreneurship. Andrew Carnegie was another prominent individual examined by the old school and new school perspectives on industrialization. Similar to old school perspectives on Rockefeller, old school perspectives divide Carnegie’s horizontal integration through his Carnegie Steel Company along critical progressive lines and that heralded him as an industrial statesman. Individuals such as Harold Livesay, writing in an old school perspective, considered him a ‘master moneyman’ for his financing capabilities. He is also heralded for revolutionizing internal business elements and only engaging in horizontal integration when necessary. New school approaches consider corporate this organizational structure and management strategy. Prominently articulated by Alfred Chandler, this ‘Chandlerian new school

Annotated Biblography Bibliography Example | Topics and Well Written Essays - 750 words

Biblography - Annotated Bibliography Example Haseena Lockhat try to disassociate the practice with the Islamic religion, it is believed by many at the village level to be a religious requirement with even scholars divided on hadith interpretation concerning it (Von der Osten-Sacken, and Uwer) When F.G.M has been attributed to North Africa or sub – Saharan Africa, it is a common practice in the Levant, the Arabian Peninsula and the Fertile Crescent which are Islamic with information lacking only due to the curtailing of freedom for feminists and free civil society in these state (Von der Osten-Sacken, and Uwer). Differences the west and the Middle Eastern societies on sexual matters is also a problem since it is easy to lean about them concerning the west but they are very secret in the latter culture with Islamic laws being restrictive on these matters which is also complicated by the lack of sex education in the institutions of learning of the latter culture. Differences in interpretation of Hadith make the proponents to argue that Prophet Mohammed did not ban it and thus it is admissible in Islam, making it a big problem. This article will be used on the proposed research to address the problem of FGM in Muslims as it is a serious problem in Islam which requires serious attention, so that the walls of secrecy can be broken in Islamic areas where it practiced, and victims educated on their human rights and dangers involved. The process of FGM involves the removal of all or part of the female genitalia to fulfill cultural or any other non therapeutic reasons. Study by Baasher (1982) indicates that F.G.M was practiced in ancient Egypt and related it to the belief in the bisexual nature of gods. The report by Ballal (2000) and Sanderson details the existence of the practice in Europe and the U.S.A in the second half of the nineteenth century (Afolayan & Oguntoye, 76). The report also details that in Africa the practice exists in nations like Egypt, Northern Sudan, Ethiopia, Djibouti, Somalia, Kenya and

Human Capital Concept Worksheet Case Study Example | Topics and Well Written Essays - 1250 words

Human Capital Concept Worksheet - Case Study Example InterClean is acquiring EnviroTech and a number of their workers. This will permit them to expand their internal and outside labor markets the length of with breach the entrance for new workers to be hired into the business. 1. Dreher, G. & Dougherty, T., (2001). Human Resource Strategy. The McGraw-Hill Companies, Retrieved November 23, 2006, from University of Phoenix, rEsource, MBA/530-Human Capital Development. http://ecampus.phoenix.edu/secure/resource/resource.asp David Spencer announced the gaining of EnviroTech, which is one of the main home competitor in the corporate advertise. 60 workers from EnviroTech determination are compound with InterClean workers (Scenario, 2006). Integrating recruitment practices with strategy is a basic technique for prospector firms. InterClean is a main player inside the sanitation scene, future productivity will pivot on satisfying the customers' up-and-coming need for future solution replica (Scenario, 2006). The plan of the corporation is to give the customers with far above the ground excellence foodstuffs. If we analyze then we come to know that HRM implications are a lot of. ... Applications of Organizational Behavior To Management David Spencer announced the gaining of EnviroTech, which is one of the main home competitor in the corporate advertise. 60 workers from EnviroTech determination are compound with InterClean workers (Scenario, 2006). Integrating recruitment practices with strategy is a basic technique for prospector firms. InterClean is a main player inside the sanitation scene, future productivity will pivot on satisfying the customers' up-and-coming need for future solution replica (Scenario, 2006). The plan of the corporation is to give the customers with far above the ground excellence foodstuffs. 1. Scenario, (2006). InterClean, Inc. Retrieved November 22, 2006, from University of Phoenix HRM Implications If we analyze then we come to know that HRM implications are a lot of. The need for alter and the dream for the new corporation must be methodically communicate. Compensation, reimbursement, and preparation systems must be included and deploy in a way that will add to new managerial objectives (HRM strategy, 2001). Communication is the main key in any modify. Factors and matters connected with effective strategy expansion in human resources. Company official to HR staff, Training and growth budget is tight. The novel hires have to need negligible compass reading. Train managers to put into practice the changes. The HR policies be supposed to be updated to bring into line with the new course of the association (scenario, 2006). Compliance will be a main issue that must be addressed. The sales employees need to be cultured on fulfillment issues (Scenario, 2006). Training and employees growth is a main issue within Human Resources. "Computerized ability

Ethical Considerations in Business Decisions and Operations Essay

Ethical Considerations in Business Decisions and Operations - Essay Example Liberation of the financial services sector in the USA in the late 1990s translated to the freedom of financial institutions to offer a wide range of financial services to clients. Banks are allowed by the Securities and Exchange Commission to offer securities as they deem okay to their clients where it is the major financial players who usually benefit. The advantages of such a scenario are that it is good for the banks which are businesses just like any other hence interested in maximizing income. Banks also argue that distributing securities to established investors as opposed to small ones is a sure way of raising the much-needed publicity for small firms launching in an IPO. This happened between WordCom’s Mr. Ebbers and Salomon Barney through Mr. Grubman - an underwriter who enabled Mr. Ebbers to make $11 million in four years from IPOs (Romar, 2006). Ethical concerns, however, arise in cases involving very close relationships with financial institutions, analysts, and i nvestors. A case in point is the close relationship between Mr. Ebbers and Mr. Grubman which resulted in high rankings for WorldCom even when its stocks were actually falling. In the end, there was a misrepresentation of information to shareholders that kept them in the dark about changing fortunes (WorldCom's stocks had fallen by nearly 90% by the time Mr. Grubman came clean) finally leading to losses when WorldCom went bankrupt (Gini and Marcoux, 2008).... This was only sustainable through continued acquisitions hence when the government denied WordCom the permission to acquire Sprint in 2000 the management had to focus on raising value of the previous acquisitions which would be accompanied by fall in share value. In 2002, WordCom filed for bankruptcy admitting to financial adjustments of operating expenses as capital expenses to a tune of $9 billion in three years (Moberg and Romar, 2003). The situation at WordCom reveals a need to protect shareholders from bearing losses since they are the ultimate losers in the scenario where a company files for bankruptcy. The suggested protection needs only transparency and accountability in acquisition alongside ensuring that the GAAPs are strictly adhered to. This can be achieved through undertaking proper audits of acquisition processes since wholesome shelving of acquisition is waste of an opportunity for growth. Ethical Considerations when Banking Firms offer Special Clients Privilege in â⠂¬Å"Hot† IPO Auctions Liberation of financial services sector in the USA in the late 1990s translated to the freedom of financial institutions to offer a wide range of financial services to clients. Banks are allowed by the Securities and Exchange Commission to offer securities as they deem okay to their clients where it is the major financial players who usually benefit. The advantages of such a scenario is that it is good for the banks which are businesses just like any other hence interested in maximizing income. Banks also argue that distributing securities to established investors as opposed to small ones is a sure way of raising the much needed publicity for small firms launching in an IPO. This happened

Discuss how demand-side policies and supply-side policies can be used Essay - 1

Discuss how demand-side policies and supply-side policies can be used to stimulate economic growth - Essay Example Literature has shown both the policies have relative influence on economic growth (Ajisaf and Folorunso, 2002). The purpose of this paper is to analyze the impact of monetary and fiscal policies on economic growth. Various studies reveal while money supply has a positive impact on economic growth performance, the choice of inflation rate has no substantial impact on economic growth performance or GDP growth rates. This paper also highlights the implications of the great recession of 2008-2009 on microeconomic theory and policy. In general, both fiscal and monetary policies look for attaining relative macroeconomic stability by maintaining stable prices and ensuring controlled inflation. Various studies show that that monetary policy alone is not capable enough to control inflation, and therefore, it should be supported by other fiscal, non monetary and non fiscal measures. Fiscal measures are extremely efficacious to control government expenditure, public and private investment, and personal consumption expenditure. Policies for taxation and public spending are formulated and implemented by governments all over the world. These policies have been the central point of economic and political debates, and can have greater influences on economic growth. Having existed for long time, the debatable topic in economic theory, research and economic policy-making is the effect of fiscal policy on economic growth. Economists mention fiscal policy as being an important determinant for growth. The population and techno logical progress are exogenous factors which drive steady rate growth in the neoclassical model. The growth rate can be affected by fiscal policy in transition to steady state (Esterly and Rebelo, 1993). Price stability is maintained by the central bank by controlling money supply in an economy. The money supply measure comes under monetary policy and this is the way through which

Strategy Essay Example | Topics and Well Written Essays - 4000 words

Strategy - Essay Example It has 760 stores in UK and 30 countries around the world. (Annual Report) M&S profits peaked in 1998 when it crossed the  £ 1 billion mark that year. It was the highest achieved by a UK retail chain. From then until 2002 it was downhill. In 2004 a new CEO Rose took over the reins and M&S slowly but surely got back to making higher profits every year since, although they are still far from the billion pounds they made in 1998. (see Appendix 1) Several major factors affected profits, the barometer of public support and financial performance. Rivals had switched to source their products from abroad at cheaper prices while M&S continued with the costly UK suppliers. As a result margins came under pressure, sales became stagnant and profits plummeted. From a high of a billion pounds in 1998, the profits fell to a low of 145 million in 2001. M&S were forced to curtail their dependence on UK suppliers and resort to other means for sustenance. (see Appendix 1) The second factor was the company policy not to accept credit cards. This had become a universal phenomenon and denial was luring younger and more mobile customers away to other rival outlets that offered this facility. The third factor was that M&S had abandoned its high street image and had gone for low end products like rivals were doing and it suffered an image loss. It was earlier known for quality of its products and it was no longer a leader in that segment. This forced a serious rethinking in the boardroom and let to a total revamp in both control and strategy of the company. A new post of Chairman as well as a new one for a CEO, as against a combined post, were created and have since seen the company’s fortune turn around. M&S, chastened by the serious erosion in customer loyalty and profits decided to revert to its roots. In the first stage they went back to exploit their core competencies. M&S started off with introduction of a new range of classical clothing for women and it was reported

The concept of attention Essay Example for Free

The concept of attention Essay How do you define the concept of attention?   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The psychological concept of attention refers to the selective processing and concentration done by the brain.   Attention is something that focuses on a particular aspect of the environment, while the others are being ignored or unnoticed.   The attention of the individual is that part of the dynamic occurrences in the environment wherein the brain is concentrated on. For instance, when taking an exam, the attention is centered on the exam itself, but not on the people passing by the windows.    Hence, attention is a brain function that essentially centers on a particular event happening around the person.   Although one’s attention may not necessarily on external and occurring incidents, but like the case of daydreaming, on things that are present on one’s mind.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The level of attention of an individual can also have its variation, from focused attention to divided attention.   There are also instances when this attention becomes sustained or un-sustained, or even selective.   Dynamic neurological activities in the brain occur, which enables the person to generate a particular kind of attention. Can attention be consciously allocated to tasks?   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The attention of the individual can be consciously allocated to task, as the particular focus of a person can be something that is fine-tuned or dictated by the brain.   As was mentioned, different levels and types of attention can occur, and tasks are effectively done if there is focused attention.   Being primarily a neurological function, attention therefore can be a conscious effort by the individual, and if one so desires to focus attention on a task, then it is a possibility.   The mere desire to commit to a task creates a certain kind of stimulus that signals the brain to focus on such task.   This focused attention hence enables the individual to allocate oneself to that task dictated and determined by one’s consciousness.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The opposite of attention is being confused or distracted, and these psychological states can be something that is uncontrollable or unmanageable, in cases wherein the person has high physical stress or metal disorders.   In such cases, then committing one’s attention to a task would be a tedious and difficult task, as there are other neurological activities occurring in the brain.   This therefore removes one’s focused attention, and the attention becomes divided or alternating. What is the relationship between attention and cognition?   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The concept of attention is in fact a cognitive process, and in this sense, attention then plays an important role in cognition.   Cognition would ultimately be reliant on the focused attention of the individual, as this would determine the information processing and brain function of the person.   In addition, attention is argued to have connections to the working memory which enables the process of recognition and retention, depending on the attention level of the individual.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Scientific studies would show the neurological functions are triggered or have direct relationship to the ability of the person to focus his/her attention in a particular task, which then establishes the relationship between cognition and attention.   Cognitive processes can only have effective and sustained outcomes if the individual has focused attention. References Myers, David. (2008). Exploring Psychology. New York: Worth Publishers. Styles, Elizabeth. (2006). The Psychology of Attention. Hove: Psychology Press. Willingham, Daniel. (2006). Cognition: The Thinking Animal, 3rd Edition. United States:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Prentice Hall.

Introduction to Underwriting

Introduction to Underwriting INTRODUCTION TO UNDERWRITING Underwriting is an agreement, entered into by a company with a financial agency, in order to ensure that the public will subscribe for the entire issue of shares or debentures made by the company. The financial agency is known as the underwriter and it agrees to buy that part of the company issues which are not subscribed to by the public in consideration of a specified underwriting commission. The underwriting agreement, among others, must provide for the period during which the agreement is in force, the amount of underwriting obligations, the period within which the underwriter has to subscribe to the issue after being intimated by the issuer, the amount of commission and details of arrangements, if any, made by the underwriter for fulfilling the underwriting obligations. The underwriting commission may not exceed 5 percent on shares and 2.5 percent in case of debentures. Underwriting has become very important in recent years with the growth of the corporate sector. It provides several BENEFITS to a company:- It relieves the company of the risk and uncertainty of marketing the securities. Underwriters have an intimate and specialized knowledge of the capital market. They offer valuable advice to the issuing company in the preparation of the prospectus, time of floatation and the price of securities, etc. They also provide publicity service to the companies which have entered into underwriting agreements with them. It helps in financing of new enterprises and in the expansion of the existing projects. It builds up investors confidence in the issue of securities. The issuing company is assured of the availability of funds. Important projects are not delayed for want of funds. It facilitates the geographical dispersal of securities because generally, the underwriters maintain contacts with investors throughout the country. TYPES OF UNDERWRITING Syndicate Underwriting: is one in which, two or more agencies or underwriters jointly underwrite an issue of securities. Such an arrangement is entered into when the total issue is beyond the resources of one underwriter or when he does not want to block up large amount of funds in one issue. Sub-Underwriting:- is one in which an underwriter gets a part of the issue further underwritten by another agency. This is done to diffuse the risk involved in underwriting. Firm Underwriting: is one in which the underwriters applyfor a block of securities. Under it, the underwriters agree to take up and pay for this block of securities as ordinary subscribers in addition to their commitment as underwriters. UNDERWRITERS To act as an underwriter, a certificate of registration must be obtained fromSecurities and Exchange Board of India (SEBI). The certificate is granted by SEBI under the Securities and Exchanges Board of India (Underwriters) Regulations, 1993. These regulations deal primarily with issues such as registration, capital adequacy, obligation and responsibilities of the underwriters. Under it, an underwriter is required to enter into a valid agreement with the issuer entity and the said agreement among other things should define the allocation of duties and responsibilities between him and the issuer entity. These regulations have been further amended by theSecurities and Exchange Board of India (Underwriters) (Amendment) Regulations, 2006. ROLE OF UNDERWRITERS The primary role of the underwriter is to purchase securities from the issuer and resell them to investors. Underwriters act as intermediaries between issuers and investors, providing for an efficient of capital. The underwriters take the risk that it will be able to resell the securities at a profit. Perhaps the most visible and familiar element of the initial public offering process is the underwriter. The underwriter is the organization that is actually responsible for pricing, selling, and organizing the issue, and it may or may not provide additional services. With direct public offerings, there is no need for an underwriter. Selection of a good underwriter is of the utmost importance, but its important to understand that many underwriters are equally selective of their clients. Because an underwriters reputation depends on successful issues, few firms will be willing to stake their reputation on questionable companies. When selecting an underwriter, its important to seek out an established company with a good reputation and quality research coverage in your field. The decision may also depend on the kind of agreement the underwriter is willing to make regarding the sale of shares. For profitable and established private companies, it shouldnt be difficult to locate an underwriter willing to make a firm commitment arrangement. Under such an agreement, the underwriter agrees to buy all issues shares, regardless of ability to sell them at a particular price. For riskier or less established companies, an underwriter may offer best efforts arrangement for the initial public offering. A best efforts contract requires the underwriter to buy only enough shares to fill investor demand. Under this arrangement, the underwriter accepts no responsibility for unsold shares. Aside from fees and sales arrangements, most underwriters are fairly similar in their roles. An underwriter will assist in the preparation and submission of all appropriate SEC filings, helping potential investors make informed decisions about your offering. All underwriters are required to exercise due diligence in verifying the information they submit, so a certain amount of investigation should be expected from any responsible underwriter. In addition to SEC registration filings, the underwriter will create a preliminary prospectus that will become a major part of the issues marketing campaign. This document is also referred to as the red herring, after a small red passage in the document that states that the company is not attempting to sell shares prior to SEC approval. Once SEC approval is obtained, the underwriter and the corporation will embark on a road show to gauge and attract interest from investors. While the road show does not involve getting binding commitments from investors, it helps the underwriter determine the best strategies for pricing and issuance. After the initial public offering, the underwriter continues to provide services for the newly public corporation. For months or even years after the offering, the underwriter may continue to make a market for the stock, ensuring liquidity for investors and making the shares more desirable. Twenty-five days after the issue, the underwriter is also permitted to make statements or projections regarding the company and its prospects. ANALYSIS OF RESEARCH ARTICLES ARTICLE 1 ROLE OF UNDERWRITER IN INITIAL PUBLIC OFFERING (IPO) When a company wants to raise funds throughinitial public offering (IPO)it appoints aninvestment bank for underwritingthe issue. AnInvestment bankis also called asmerchant bank. There is no regulatory restriction to use the services of amerchant bankfor IPO. Since in an IPO a company participates for the first time, it doesnt have complete understanding of the rules and documentation, required to be submitted, to get a clearance from the regulator. Famous merchant bankers world over are Goldman Sachs, Credit Suisse and Morgan Stanley. Banks like Deutsche, Citi, UBS etc have investment banking wings. Underwriters assess and analyze firms current performance, firms future earnings potential, industry scenario, competition in the same sector, current local and global market situations etc. to decidethe issueprice/price band. They also work on the activities like completion of the mandatory documentation as required by the regulatory body. Underwriters charge a fee for this activity, which is generally a percentage ofthe issuesize. If the issue size is very large a syndicate of merchant banks takes up the task of underwritingthe issue. However onemerchant bankleads the other. MERCHANT BANKERS The merchant bankers are those financial intermediaries involved with the activity of transferring capital funds to those borrowers who interested in borrowing. They guarantee the success of issues by underwriting them. Merchant banks are popularly known as issuing and accepting houses. Unlike in the past, their activities are now primarily non-fund based (fee based). They offer a package of financial services. The basic function of merchant banks is marketing corporate and other services that are guaranteeing sales and distribution of securities and also other activities such as management of customer services, portfolio management of customer services, portfolio management, credit syndication, acceptance credit, counseling, insurance, etc. As per SEBI (Merchant bankers) Rules, 1992: Merchant bankers means any person who is engaged in the business of issue management either by making arrangements regarding selling, buying or subscribing to securities or acting as manager, consultant, advise or rendering corporate advisory service in relation to such issue management. MERCHANT BANKING Merchant banking activity was formally initiated into the Indian capital markets when grind lays bank received the license from reserve bank in 1967.grindlays started with management of capital issues ,recognized the needs of emerging class of entrepreneurs for diverse financial services ranging from production planning and system design to market research .even it provides management consulting services to meet the requirements of small and medium sector rather than large sector. Citibank setup its merchant banking division in1970.the various tasks performed by this divisions namely assisting new entrepreneur ,evaluating new projects ,raising funds through borrowing and issuing equity. Indians banks started banking services as a part multiple services they offer to their clients from 1972.state bank of India started the merchant banking division in 1972.in the initial years the SBIS objective was to render corporate advice and assistance to small and medium entrepreneurs. REGISTRATION OF MERCHANT BANKERS WITH SEBI It is mandatory for a merchant banker to register with the sebi. Without holding a certificate of registration granted by the securities and exchange board of India, no person can act as a merchant banker in India. Only a body corporate other then a non-banking financial company shall be eligible to get registration as merchant banker. The applicant should not carry on any business other than those connected with the securities market. All applicants for merchant bankers should have qualifications in finance, law or business management. The applicant should have infrastructure like office space, equipment, manpower etc. The applicant must have at least two employees with prior experience in merchant banking. MERCHANT BANKERS IN INDIA There are 135 merchant bankers who are registered with sebi now in India. There are public sector, private sector and foreign players registered with sebi. The below are the examples of few of the merchant bankers in each of the public, private and foreign players. PUBLIC SECTOR MERCHANT BANKERS SEBI CAPITAL MERKETS LTD. PUNJAB NATIONAL BANK. IFCI FINANCIAL SERVICES LTD. KARUR VYSYA BANK LTD. STATE BANK OF BIKANER AND JAIPUR. PRIVATE SECTORS MERCHANT BANKERS: ICICI SECURITIES LTD. AXIS BANK LTD(FORMERLY UTI BANK LTD.) BAJAJ CAPITAL MARKETS LTD TATA CAPITAL MARKETS LTD. ICICI BANK LTD. RELIANCE SECURITIES LIMITED. KOTA MAHINDRA CAPITAL COMPANY LTD. YES BANK LTD. FOREGN PLAYERS IN MERCHNT BANKING. GOLDMAN SACHS(INDIA)SECURITIES PVT.LTD. BARCLAYS SECURITIES(INDIA)PVT.LTD. BANK OF AMERICA.N.A. DEUTSCHE BANK. DEUTCHE EQUITIES INDIA PRIVATE LIMITED. SERVICES OF MERCHANT BANKS PROJECT COUNSELLING: Project counseling includes preparation of project reports,deciding upon the financing pattern to finance the cost of the project and appraising the project report with the financial institutions or banks.it also includes filling up of application forms with relevant information for obtaining funds from financial institutions and obtaining government approval. MANAGEMENT OF DEBT AND EQUITY OFFERINGS This forms the main function of the merchant banker.he assists the companies in raising funds from the market.the main areas of work in this regard include: instrument designing, pricing the issue, registration of the offer document, underwriting support and marketing of the issue, allotment and refund, listing on stock exchanges. ISSUE MANAGEMENT Management of issue involves marketing of corporate securities viz. equity shares, preference shares and debentures or bonds by offering them to public. Merchant banks act as per SEBI guidelines, the merchant banker arranges a meeting with company representatives and advertising agents to finalize arrangements relating to date of opening and closing of issue, registration of prospectus, launching publicity campaign and fixing date of board meeting to approve and sign prospectus and pass the necessary resolutions. Pricing of issues is done by the companies in consultant with the merchant bankers. MANAGERS, CONSULTANATS AND ADVISERS OF THE ISSUE: The managers of the issue assist in the drafting of prospectus, application forms and completion of formalities under the companies act, appointment of registrar for dealing with share applications and transfer and listing of shares of the company on the stock exchange. Companies can appoint one or more agencies as managers to the issue. UNDERWRITING OF PUBLIC ISSUE: Underwriting is a guarantee given by the underwriter that in the event of under subscription, the amount underwritten would be subscribed by him. Merchant banking subsidiaries cannot underwrite more than 15% of any issue. PORTFOLIO MANAGEMENT: Portfolio refers to investment in different kinds of securities such as shares, debentures or bonds issued by different companies and government securities. Portfolio management refers to maintaining proper combinations of securities in a manner that they give maximum return with minimum risk. RESTRUCTURING STRATEGIES: AA merger is a combination of two companies into a single company where one survives and other losses its corporate existence. A takeover is the purchase by one company acquiring controlling interest in the share capital of another existing company. Merchant bankers are the middlemen in setting negotiation between the companies. Merchant bankers assist the management of the client company to successfully restructure various activities, which include mergers and acquisitions, management buyouts, joint ventures among others. OFFSHORE FINANCE: The merchant bankers help their clients in the following areas involving foreign currency: Long term foreign currency loans Joint ventures abroad Financing exports and imports Foreign collaboration arrangements ROLE OF MERCHANT BANKER IN A PRIMARY MARKET ISSUE MANAGEMENT: Merchant banker is the intermediary appointed by companies in the primary market issue. It has to look at the entire issue management and work as the manager to the public issue. References: http://lastbull.com/iporole-of-underwriter/

The Aircraft Structural Layout Engineering Essay

The Aircraft Structural Layout Engineering Essay Introduction The A380, when first produced was one of the newest and most technologically advanced civil airliners in the world, hosting the use of new materials, new manufacturing techniques and overcoming many engineering problems that the sheer size of the aircraft procured. The requirement for an ultra high capacity aircraft, UHCA , came about at the conclusion of the cold war; international conflict and tensions were dissipating and international travel became more viable. Airports were becoming more and more congested and Boeing was monopolising the civil air transport market Airbus needed something to new and preferably big to combat these issues. The A3XX was conceived in 1988 and developed over the years until what we know now as the largest passenger airliner in the world; the A380. The eight was chosen to reflect the structure of the airframe, the two floor arrangement and the fact that in many Asian countries the number eight is considered as a lucky number. At the time, the aircraft was the latest feat of engineering for the aviation industry; if not for engineering in general. Its technological advances are something to admire but there were several problems to face this pioneering project. Many new manufacturing practices and techniques had to be developed; along with the logistical problems of combining over one hundred international partners contributing parts. Then the huge task of transporting the various oversized parts to the assembly line in Toulouse, France. Designers were confronted with countless questions, how to transfer the immense loads the aircraft would come under? How will the undercarriage distribute the weight of such and still be manoeuvre efficiently in existing airports? How much power would an aircraft of such size require? Noise levels to comply with newly implemented restrictions? The 3Es were imposed during the design process; environment, economy and energy. This report will discuss the options and solutions that were chosen to overcome the many problems mentioned above. DESCRIPTION OF THE STRUCTURE OF THE AIRFRAME The complex number of airframe components were all put together as one part and were analysed and optimised using very advanced computational fluid dynamics. The A380 is quite a blunt aircraft and this helps by cutting drag by 2% as opposed to other desings. The designer enhanced many aspects of the A380 such as the wing body fairing and the wing. This enabled weight to be saved without creating drag consequences. The airframe of the A380 was built to last 25 years. On Page 5 of Appendix F a detailed cutaway can be seen of the A380. Also in Appendix A Figure 3 an overview of the components of the A380 can be seen. Full specifications of the A380 can be seen in Appendix E. Nose Section The nose section was difficult to engineer as the double deck design created a deep profile requirement. There is a large pressure bulkhead which is above and behind the nose gear bay. It is made from a double curved panel stiffened by longitudinal stringers which are locally welded. This bulkhead panel is unique as it is designed to form part of the cock pit floor. The unpressurized nose gear bay is in the forward lower part. Fuselage The fuselage of the A380 is the biggest in the world and the most complex ever made by Airbus. For example, just taking the middle section of the fuselage, there is a large amount of components. There are three doors, the belly fairing, main landing gear bay, centre wing box, two wing gears and the body gears. Although the structure of the A380 is relatively traditional new materials were used. This will be discussed in more detail later in the report, here is a summary; the semi monocoque structure of the fuselage is formed from very advanced aluminium alloy. There are plastic frames in the tail cone section reinforced with CFRP, carbon fibre reinforced polymer. The skins of the upper and lateral fuselage, forward and aft, are made from GLARE, glass fibre reinforced aluminium laminate. The centre fuselage however is made from aluminium alloys and glass fibres with imbedded adhesive. This is a very advanced way to save weight. This was not the only reason advanced composites were used; they also have better damage tolerance and fatigue. The fuselage is 230ft long and has two main types of cross section. It is spherical until frame 31 then aft of this it becomes ovoid. This can be seen in figure 3 of appendix B where four possible cross sections for the A380 are compared. For interest only there is a sketch in Appendix C which shows what the A380 could have looked like with the horizontal double bubble fuselage cross section. Also in Appendix A Figure 2 a comparison can be seen of the A380 (marked A3xx) and the Boeing 747 cross section. The rear section is unpressurized. The tail section and the forward unit section form this. The tail section is separated from the rest of the fuselage by a CFRP reinforced plastic rear pressure bulkhead. The rear section is attached to aft section of the fuselage. This runs from frame 74 to 95. The rear fuselage section is a very complex set up. This is because it has to support the fin and horizontal tailplane. The substructure is reinforced with highly loaded aluminium frames as well as resin frames. The panels that attach to the substructure are chemically milled CFRP skins. Welded stringer panels are used in the lower fuselage. They are machined with integrated stringers in tandem. This creates stronger panels. The upper shell is strengthened by GLARE. There are areas of high stress within the fuselage such as around the wing root area and the frames that run the length of the fuselage. These areas are machined. Areas which are less loaded are extruded, for example the upper shell. The upper deck and the main deck are constructed in a similar manner, a floor grid supported by cross beams and frames in turn supported by vertical struts, but use different materials. The upper deck uses CFRP crossbeams which connect to the frames by a shear joint. The main decks cross beam is made from advanced aluminium lithium alloy. There are two stairways within the fuselage. By door one is the double width stairway for in flight activity. In the curvature of the rear pressure bulkhead is another stairway made wide enough for service equipment and a stretcher. The belly fairing has an aluminium substructure which supports panels made of a nomex honeycomb and hybrid epoxy skin sandwich. Deformation occurs between the fuselage structure and the belly fairing and this means loads from the fuselage are transferred to the fairing. Also there is a metallic strip in the rear section of the fairing it allows bending loads to be absorbed as it enables the composite shell to flex. Wings Due to the above wings of the A380 are the biggest ever made. They cover 9104sqft with a chord of 13ft and a 261ft6inch span and have an aspect ratio of 7.52. The sweep angle is 33.5 degrees at the 25% chord mark. The dihedral is 5.6 degrees at the tip. The wings are very complex. The leading edge has six slat sections and two droop noses. The trailing edge has three single slotted fowler flaps. The ailerons, outer flaps and spoilers are made from composites. The inner flap is metallic. The wing itself has three ailerons and eight spoilers. Also the wing supports two engine pylons and the wing landing gear. A kruger flap would have been on the inboard leading edge but because of the huge depth of the A380 wing a droop nose device was included. It is completely sealed which means it makes the wing stall inboard and it pivots around a fixed point. The wings frame is made from a CFRP and aluminium alloy hybrid centre box and a metallic outer part. The centre box consists of a root rib, rear, front and centre spars with skins above and below. The centre box is joined to the fuselage by frame fittings. Diagonally orientated struts support the floor structure above. The wing frame can be split into two parts the inboard frame, from ribs 1 to 17, and outboard frame, from ribs 17 to 49.They are differentiated by the fact that the outboard from has no centre spar, only front and rear. The spar material changes from aluminium at the middle point between the engines as a weight saving device. Twenty three of the forty nine ribs are made partly from CFRP. The winglets take aerodynamic loads in roll. The A380 winglets have a 13ft chord, are at a length of 119ft away from the fuselage and are an optional item in the specification. Tail The tailplane in totality is a height of 79ft5inches and has a 99ft span. To put this into perspective this is almost the span of an A320 wing and the same chord as the A340. The tailplanes support from the fuselage has been spoken about previously. The tailplane is attached to the fuselage using two rows of lug and shear bolts. This is a similar concept the A340 design of this area. The frame that supports the tailplane is before the first row of lug bolts at frame 108. There is also double curvature of the skin at the root of the tailplane. This is because the airflow locally around the stabilizer will be greater than mach 1. The double curvature enables any drag rise to be dispersed. Between frames 99 and 100 is the single trim screw. Rear of the tail cone is the rear fairing made up of titanium firewalls and is home to the APU (Auxillary Processing Unit) exhaust. The APU itself sits just forward of this within the tailcones CFRP frame and stringers. A revolutionary design that utilises a single torsion box with a lower and upper rudder has been used for both the fin and rudder. The fin box for example consists of a rear and front spar that span the whole fin with a framework of ribs made from CFRP and resin. The end fittings are made from aluminium alloy. The vertical stabiliser is 48ft high and has a chord of 39ft6inches with a taper ratio of 0.39 and an aspect ratio of 1.74. The horizontal stabilizer has an integral fuel tank. The lateral loads of this stabilizer are taken by a heavily reinforced structure. The landing gear bays surround the cargo compartment between the aft cargo section and the centre wing box. The walls (inner and upper) are made from self stiffened panels. DISCUSSION OF THE PRODUCTION AND ASSEMBLY PROCESS With an aircraft of such size choosing the final assembly site was going to cause problems. The decision would have to involve a political and logistical discussion as to decide the options that were going to be best for the whole process. A collaboration between many companies throughout the airbus group and some other specialist companies was going to be vital to getting the highest quality for the aircraft. . The five largest contributors to A380, by value, are Rolls-Royce, SAFRAN, United Technologies, General Electric, and Goodrich. Airbus sized the production facilities and supply chain for a production rate of four A380s. Many newly created and some most advanced manufacturing techniques were used in the production of the A380 to allow this rate to be achieved. Production Companies across Europe built the major structural sections in France, Germany, Spain, and the United Kingdom; other components came from across the world. JAMCO made the upper deck floor carbon cross beams and the stiffners and stringers for the fin centre box. Shin Maywa was contracted for the main wing root fillet fairing and the wing ramp surfaces. Yokohama made the water and waste tanks. Korean Aerospace Industries constructed the lower outer wing skin panels. Australian company Hawker de Havilland built the large wingtip fences. Chinese company AVIC make the panels of the landing gear bay. Hamilton Sundstrand produced the air generation system. Canadian Pratt and Whitney make the Auxillary Power Unit. Honeywell made the flight management system. American company Eaton provided the high pressure hydraulic system and the high pressure hoses. Parkers Aerospaces Electronic Systems Division provides the fuel management systems. Rockwell Collins supplies the avionics full duplex AFDX Ethernet switch. A final example of the multi-corporate build is Goodrich developing the evacuation slides. The construction of such an aircraft required huge amounts of money to be spent in order to design and build the sites that could cater for the A380 components. For example Airbus UKs build site at Broughton received a brand new  £35million building to contain the wing construction. Each manufacture site was delegated different areas of manufacture; these were split into or aircraft component management teams (ACMTs) then further split into combined design build teams (CDBTs). carrying on from above the wing construction was in Broughton but the Wing assembly was delegated to Filton. ACMTs were created for wing nose, centre fuselage, forward and aft fuselage, propulsion, empennage, landing gear, systems, interior and final assembly. The use of breaking down the ACMTs into CDBT allowed for responsibility if components had issues, late deadlines etc. As stated earlier, new production techniques were introduced. Laser beam welding; involves a highly accurate automated laser beam, typically carbon dioxide or solid state YAG (yttrium-aluminium-garnet) laser, which was introduced into manufacture in 2001. It has a built in inspection unit leading to much quicker and quality welds. This technique was used to attach the stringers of the lower fuselage shell skins, reducing dramatically the weight, need for fasteners and time taken of previous technique (reaching a production speed of 26ft a minute when welding the stringers it). This manufacturing process was also used for the curved bulkhead panel and lower fuselage skin. Another manufacturing technique which revolutionised the A380 manufacture was an advanced robotic milling machine. It had a fixed axis and spun up to 24000 rpm and operated under a shower of lubricant. This was utilised in the manufacture of the aluminium alloy cockpit window frames. Assembly Assembly of such an aircraft was going to be an epic logistical journey. Getting the parts to the final assembly hall in Toulouse was going to be the hardest part as a new technique for spatial alignment had been created. This groundbreaking feature of the assembly was vital; the positioning system aided by lasers (41/40 single station unit) aligned jigs to subassemblies with high tech optics to attach the fuselage and the wings together. It was very advanced as it calculates exact dimensions of sections and is interfaced with a CAD system which could derive structural qualities and average tolerances. Techniques adopted by previous Airbus models used the A300-600ST Beluga aircraft to transport large parts; however this was not going to be as much use for the A380. This meant another option of travel was going to be used. Land and water was going to have to be used to get all components to Toulouse. The decision as to where the final assembly should be located caused friction within the airbus family at first. The German airbus section had to be appeased by using its Ville de Bordeaux, Roll-on Roll-off sea vessel (RORO) as seen in Figure 5, to allow the choice of Toulouse as Final Assembly. Parts from across the world where transported to Europe to respective manufacturing areas and eventually moved to France. Two main transport systems were utilised in the assembly of the A380. Air transport used of a number of guppy aircraft, devised by Felix Kracht, to manufacturing sites. By sea the RORO vessel travels to four different countries in Europe collecting parts; then transfers them to Paupac. From there it is transported by canal and road to Toulouse. The front and rear sections of the fuselage are loaded on to RORO in Hamburg, northern Germany, whence they are shipped to the United Kingdom. The wings; transported by barge to Mostyn from Filton in Bristol and Broughton in North Wales, where the ship adds them to its cargo. In Saint-Nazaire in western France, the ship trades the fuselage sections from Hamburg for larger, assembled sections, some of which include the nose. The ship unloads in Bordeaux. Afterwards, the ship picks up the belly and tail sections by Construcciones Aeronà ¡uticas SA in Cadiz in southern Spain, and delivers them to Bordeaux. From there, the A380 parts are transported by barge to Langon, and by oversize road convoys to the assembly hall in Toulouse. The original pathways that were going to be used for transportation were simply not sufficient enough; therefore new wider roads, canal systems and barges were developed to deliver the A380 parts. After assembly, the aircraft are flown to Hamburg to be furnished and painted. It takes 3,600 litres of paint to cover the 3,100 m ² exterior of an A380. DISCUSSION OF THE CHOSEN MATERIALS USED IN THE STRUCTURE The A380 was very progressive in its design. Forty percent of its structure consisted of carbon composites and advanced metal alloys. The wing structure for example was constructed with a carbon fibre wing box. They used monolithic CFRP as it was found to be one and a half tonnes lighter than using aluminium alloys. The fin also created in this manner with a solid laminate CFRP fin box cured in an autoclave. This was also utilised in the rudder, horizontal stabilizer and elevators. CFRP was employed in other areas of the plane too not just external components. Pressure bulkheads and upper deck floor beams were also made of this material. The vertical tail is made of a CFRP truss structure. The wing skin was changed from aluminium alloys to composites in the design process. Thermoplastics were used for lots of components. For example the ribs in the fixed leading edges of the vertical and horizontal stabilisers. Also for the secondary support holding the interior furnishing and the cabin trim. Impact resistant thermoplastics were used on the wing leading edges. The A380 as an engineering feat used revolutionary materials. For example GLARE. The acronym stands for glass fibre reinforced aluminium laminate. It was used for the upper fuselage shell. The material was tested in 1990 and consists of alternation layers of 0.015inch aluminium sheet and glass fibre reinforced bond film. This material is revolutionary because it has better corrosion, fatigue and damage resistance properties than aluminium. It is also less dense with a weight saving of between fifteen and thirty percent. The weight saving was about 500kg in construction. This material is exceptional as the glass fibre layers between the aluminium stop cracks propagating and even operate as a load path. Aluminium alloy was utilised massively within the production of the A380. One area where it was exploited was the windows in the cockpit. The frames were made from AL7040 aluminium alloy. A strengthened variant of the alloy was used as the bird impact shield. The windshield fairing was also redesigned to use aluminium. It consists of aluminium skins, which were chemically milled, covering machined ribs and extruded stringers. Aluminium alloy was used as a substructure for the massive belly fairing. It supported panels which utilised modern materials. The panel core is a nomex honeycomb core which is covered in a hybrid carbon glass fibre epoxy skin. Titanium was utilised in the fairing also with a corrosion resistant variant being used for stringers and frame roots. The intuitive designers saved weight and increased performance wherever they could. The engines pylons where mostly made from titanium, however they had a secondary structure made from thermoplastic carbon and aluminium. An epoxy CFRP was used for the nacelle cowl and fan cowl skin. These advanced materials were used as they reduced the weight of the structural form, made it more aerodynamic and improved the performance of the aircraft. Take the centre wing box as a case study. 2,200 pounds of weight was saved by using composites, mainly carbon fibre, for 50% of the 23ft by 20ft by 7ft structure. Component weight reductions also reduce stresses on the planes structure. However the designers did not always go for the composite option. They considered the benefits and disadvantages carefully. For example the wing. There were many drawbacks to having a fully composite wing which were not balanced by being 1500 pounds lighter. For example the huge structural join now required would weigh more than the composite weight loss. This additional weight then required the wing to be strengthened as it had lost the bending relief moment. A more obvious drawback is the greater manufacturing costs of using composites. DISCUSSION OF THE WEIGHT GROWTH WITH SERIES DEVELOPMENT Throughout out the design phase the aircraft had been considered as passenger aircraft, with a freighter option considered as a sustainable use for the aircraft as well. However this was put on hold being postponed in March 2006 after both launch customers cancelled their orders. With an aircraft this size small component changes were going to have huge effects on weight. An example of this is when the engines had to comply with the QC/2 noise regulations many changes occurred to the engine. This had a knock on effect with the wings, fuel volume, control surfaces and the structure that holds the wing; greatly affecting the weight of the aircraft. The passenger variants of this aircraft are very versatile, but having the ability to carry up to 555 passengers and luggage, as is the case with the main A380-800 model, into an aircraft is going to significantly increase the weight. Other variants of the passenger are an extended range model with a shorter fuselage and only 481 passengers is the A380-700. Also a VIP aircraft has been ordered by HRH Prince Alaweed bin Talal bin Abdulaziz Alsaud which is known as the A380-Flying Palace. Also the United States Air Force is looking at the A380 as a replacement for the Presidential Air Force One aircraft; which is a Boeing 747 at present. A proposed stretch version the A380-900 has been proposed; it would be 12 frames longer be able to carry 656 passengers (three class layout) and would have an increase MTOW. The A380-800C11 a passenger/cargo plane is an in between variant which can carry 11 cargo pallets as well as passengers. The other main variant is the A380-800F dedicated freighter, a shelled out A380-800 model, with a capacity of 25 pallets on the upper deck, 33 pallets on the main deck, and 13 pallets on the lower deck. With a total available volume of 948.m3 it allows for a payload up to 150,000kg over 10,371km; this is almost double the capability of the Boeing 747-400F. The large range means no need for stopovers when crossing large oceans meaning quicker delivery times.But this required some of the composites to be replaced by aluminium-lithium alloys to allow for this greater loading; inevitably increasing the weight of the aircraft. More structural strengthening was undertaken fortified frames, more substantial skins and stronger landing gear. Figure 9 shows a comparison between the weights of the two main variants mentioned above. CONCLUSION The A380 is a world leading aircraft in not only in the ability to carry more passengers than any other aircraft it the market but because of the ground breaking technologies, new manufacturing techniques and the use many new materials. It is a very unique aircraft. The airframe structure is an engineering feat; the high loads and stresses due to the sheer size of the A380 were dealt with by an innovative airframe made viable by the use of advanced computational fluid dynamics. These allowed for big decreases in weight due to the design and helped reduce the effects of drag. The production and assembly process was a fairly political global project which involved the coordination of more than 100 companies. New techniques such as 41/40 single station unit used in assembly along with the laser beam welding. Collaboration of all the companies brought together by the Ville de Bordeaux the RORO ship, overland road convoys and fleet of guppy aircraft. Mad from 40% composite materials with a host of new materials being utilized across all areas of the aircraft. They reduced the weight dramatically and aided in aerodynamic properties. These are the main reasons that allow the A380 to be such a mammoth. The undercarriage design consists of a two wheel forward retracting nose bogie a six wheel rear retracting body bogie and two four wheel sideways retracting wing bogies. Extremely clever in design creating highly ground maneuverable aircraft. At the moment only the A380-800 model is in production and being used to travel to many worldwide destinations. The A380-800F model is still on hold due to companies cancelling. In this report I have discussed the structure of the airframe. I have also considered the influences of the production and assembly process, the structural materials used and the reasons behind them, the undercarriage design in terms of position and retraction and the weight growth with series development. Figure bank Figure 1: Airbus A380 Cutaway Figure 2: A380 Cutaway (Flight Global)

Essay --

PATIENT CONFIDENTIALITY Patient Confidentiality is where a patient's medical information should be kept confidential. This concept can even be dated back to the Hippocratic Oath. When a patient goes to see his or her doctor, that patient expects to have his or her information kept confidential. They trust the medical practitioner to keep the information between them and related medical practitioners. For instance, you do not want people to find out about a disease you have and you to be affected by their knowledge of this.This establishment of trust along with medical ethical guidelines dictates this to be a duty for the doctors. Also, a person’s medical laws are meant to be kept confidential and not to be shared with anyone as dictated by law. This law is known as Health Insurance Portability and Accountability Act (HIPAA). There are many instances where a medical practitioner can release this information without your consent, but none of these reasons should benefit the physician in any way. When you buy health insurance, you need to authorize the release of medical records to the...

Hamlet, Act 1 Scene 1 Essay -- essays research papers

One of the best known pieces of literature throughout the world, Hamlet is also granted a position of excellence as a work of art. One of the elements which makes this play one of such prestige is the manner in which the story unfolds. Throughout time, Shakespeare has been renowned for writing excellent superlative opening scenes for his plays. By reviewing Act 1, Scene 1 of Hamlet, the reader is able to establish a clear understanding of events to come. This scene effectively sets a strong mood for the events to come, gives important background information, and introduces the main characters. With the use of this information, it is simple to see how Shakespeare manages to create stories with such everlasting appeal. In Hamlet, Act 1, Scene 1 proves to be a vital element to understanding the play. One important task it serves is to determine the mood of the play. From the beginning of the scene, the reader is aware of the atmosphere of mistrust and uncertainty lingering in the air. When the reader is first introduced to the main characters outside the castle, they are suspiciously asking each other to identify themselves. Everyone seems to be on edge from the start, as if anticipating something. Another factor that reveals a mood of wariness and caution is how the night is dark, the air is chilling, and the characters speak of "the bitter cold," (p. 9, ln.8). This evokes a mood of foreboding and mystery. At one point, Fransisco ends his watch thankfully because, "he is sick at heart," (p.9, Ln. 10). Shortly after the atmosphere is created, the reader is introduced to the idea of a ghost, which sets a mood of dread and eerieness. The men speak of the ghost with great fear, and are very apprehensive to witness it again. Also introduced is the impression of death and the supernatural. Although it is assumed that the ghost is that of the late king, it is also presented that perhaps it is a demon, posing as the king. And if it is a ghost, why has it returned? The appearance of a wordless ghost is an important dramatic device that Shakespeare uses to rivet attention to the action, as well as to set the tone of the story. With use of such elements, Shakespeare effectively paints a distinct mood for the remainder of the play. In addition to setting a mood for the story, the first scen... ...uced in Act 1 Scene 1 is Horatio. He is a true friend and confidant to Prince Hamlet. When the men learn of the ghost, Horatio decides that they must let Hamlet know of what they have seen. This in turn, begins the plot. From his description of Julius Caesar and the times of the Romans, we also learn that he is very educated and intelligent. Horatio is well informed and very aware of the circumstances surrounding him. Nearer to the end of the scene, the presence of Prince Hamlet is introduced, although he is not yet present on the scene. By studying Hamlet, it is plain to see that this is a timeless story of mystery, drama and sometimes humour. In order to achieve such greatness, there is a specific criteria that the author must meet. In history, Shakespeare was renowned for writing riveting opening scenes for his plays. From these superior introductions, the reader is exposed to many important factors. Mood, background data and characters are all vital aspects of the play which are shown in the first scene alone. With this information, the reader is armed with the tools that will help them better understand and appreciate the amazing events to come.

The Politics of Humor :: essays research papers fc

  Ã‚  Ã‚  Ã‚  Ã‚   THE POLITICS OF COMEDY   Ã‚  Ã‚  Ã‚  Ã‚  Is this thing on?   Ã‚  Ã‚  Ã‚  Ã‚  In efforts to promote voter education, laughter is perhaps the best strategery.   Ã‚  Ã‚  Ã‚  Ã‚  Comedy and tragedy prove one in the same, as the saying goes. The variability of the twosome, however, substantiates rather inconsistently in politics, an arena overflowing with participants who take themselves too seriously. And where a potential candidate attempts to utilize comic relief, one often discovers the result to be rather tragic.   Ã‚  Ã‚  Ã‚  Ã‚  In lieu of the consequences politicians may endure with the mere utterance of a poor joke, most tend to stray from the possibility of Meet the Press turned comedy hour. Especially when their reputations are at stake; politicians are well aware, according to Mark Katz, humorist and speechwriter for Bill Clinton, that â€Å"a good joke will last about a week†, whereas a â€Å"bad joke will be reprinted in you obituary.†   Ã‚  Ã‚  Ã‚  Ã‚  Perhaps responsibility lies within the confines of a narrow-minded media, exhibited as a threat to be avoided rather than a tool to be implemented. But certainly with just cause; â€Å"the news media are poorly suited to their role as the principal intermediary between candidates and voters,† rooted in the conception of politics as â€Å"game† and a â€Å"business† rather than a â€Å"struggle† over national policy.   Ã‚  Ã‚  Ã‚  Ã‚  The aforementioned incidents occur frequently, but not absolutely, should candidates appropriately utilize humor. The war on terror provides unavoidable roadblocks on an already-tumultuous campaign trail, and even primitive technology such as television suffices in establishing the general 9/11 ‘fear climate’. The presumption of a candidate’s entrepreneurial priorities over his public relationship undermines the use of humor as the candidate’s ultimate weapon.   Ã‚  Ã‚  Ã‚  Ã‚  The primarily noticeable aspect of political campaign humor pertains to its absence. Undoubtedly humor â€Å"is used more sparingly than songs in political commercials† ; the commodity appears even more so in the early campaign efforts of the mid-nineteenth century than recent endeavors. Humor’s effectiveness originates from its multilevel success in the campaigning process. Involuntarily proliferated by an ever-expanding press, the ideal candidate would employ comedy because of its effervescent facility of concurrent humanization and advertisement. Moreover humorous politicians formulate an equally comical and less aggressive response within the entertainment realm, successfully intertwining the sphere of pop culture with the relatively unscathed territory of political science. The general consensus regarding the benefits of humor relates to its malleability; it can â€Å"be employed to attack the opposition, or it can serve to enhance a campaign.à ¢â‚¬    Ã‚  Ã‚  Ã‚  Ã‚  While it can be argued that humor refers to a conscious campaign maneuver on the part of its source, as a tool it only succeeds with regard to the respective candidate.

Plavix Case Study

Patent Games: Plavix Case Study Columbia Southern University Abstract This case study illustrates the conflict between patent protection and preserving a pure competitive market. Pharmaceutical companies are granted patent rights to newly developed drugs for a limited amount of time. Through legal means they are able to form monopolies and maximize their profits. a parent company can move to delay the release of its generic comparison through legal and illegal measures. In the following case Bristol-Myers Squibb fell victim to their own anti-competitive practices. Why did Bristol-Myers Squibb and Sanofi-Aventis seek a settlement?Apotex had was near the conclusion of the government mandated 30 month stay brought on by Bristol-Myers Squibb to delay them from releasing their generic form of Plavix(Chen, 2011). Bristol-Myers Squibb chose to settle rather than litigate for fear of likely losing any patent litigation. Buying out Apotex which was the only other producer of the drug would pr eserve their monopoly and profit margin. Bristol-Myers Squibb had already had a long history of manipulative practices and had delayed other drugs from entering the market in a similar manner, excessive 30 month stays (FTC, 2003).They had been taking advantage of a loophole in the Therapeutic Equivalence Evaluations system known as the Orange Book (FTC, 2003). Litigation would bring further attention to the practices within the pharmaceutical industry and encourage government intervention. Bristol-Myers Squibb and Sanofi-Aventis prevents Apotex from launching generic drug. Pharmaceutical companies are well within their rights to push for extensions on their patents (Baron, 2010). Bristol-Myers Squibb however did not take a legal approach to this.They should not have attempted to pay Apotex 40-60 million dollars to prevent them from launching their generic drug. The Federal Trade Commission must approve of any such agreement to ensure that it does not violate anti-trust laws. Their a ttempted agreement was collusion. Their attempt to limit the production of Apotex was illegal and therefore rejected by governing bodies. Sherman’s strategy Bristol-Myers Squibb’s deceptive practices were likely to catch up to them. This occurred when they crossed paths with Sherman who led Apotex at the time.After everything settled Sherman acknowledged in an interview that he knew the FTC would reject the proposed agreements made by Bristol-Myers Squibb and Sanofi. He also recognized that their spokesman didn’t realize his offer would cause adverse action against Bristol-Myers Squibb (Baron, 2010). He played to their ignorance and entered the agreement. There is no direct answer to the ethics of Sherman’s strategy. He did not actively participate or even condone Brisol-Myers Squibb’s collusion; in fact he knew the agreement would be rejected.There is no way of truly knowing whether Sherman acted with malice when implementing his strategy. Should the FTC and the state attorneys general have rejected the agreements? The FTC and state attorney was right in rejecting Brisol-Myers Squibb’s proposed agreements on the grounds that it is an anti-competitive practice. The second agreement would have been rejected as well provided Bristol-Myers Squibb was completely honest with the FTC. Upon submission of the second agreement to the department of justice they affirmed under oath that all agreements were as listed on the document with no side arrangements (Chen, 2011).After the initiation of an investigation conducted by the Federal Bureau of Investigations Bristol-Myers Squibb plead guilty to two counts of fraud. Did Bristol-Myers Squibb likely violate the deferred prosecution agreement? Bristol-Myers Squib’s board of directors were not going to allow their organization to violate the deferred prosecution agreement. A corporation in its position must remain clean and ethical to rebuild especially while under the supervi sion of government assigned federal monitor Frederick Lacy. The firing of CEO Peter Dolan was a sign that Bristol-Myers Squibb was trying to recover.References Baron, D. P. (2010). Business and its environment (6th ed. ). Upper Saddle River, NJ: Prentice Hall. Chen, Q. (2011). Destroying A Pharmaceutical Patent for Saving Lives: A Case Study of Sanofi- Synthelabo V. Apotex, Inc. Albany Law Journal. Retrieved from http://www. albanylawjournal. org/articles/chen_3. pdf Federal Trade Commission. (2003). FTC Charges Bristol-Myers Squibb with Pattern of Abusing Government Processes to Stifle Generic Drug Competition. Retrieved from http://www. ftc. gov/opa/2003/03/bms. shtm Plavix Case Study Patent Games: Plavix Case Study Columbia Southern University Abstract This case study illustrates the conflict between patent protection and preserving a pure competitive market. Pharmaceutical companies are granted patent rights to newly developed drugs for a limited amount of time. Through legal means they are able to form monopolies and maximize their profits. a parent company can move to delay the release of its generic comparison through legal and illegal measures. In the following case Bristol-Myers Squibb fell victim to their own anti-competitive practices. Why did Bristol-Myers Squibb and Sanofi-Aventis seek a settlement?Apotex had was near the conclusion of the government mandated 30 month stay brought on by Bristol-Myers Squibb to delay them from releasing their generic form of Plavix(Chen, 2011). Bristol-Myers Squibb chose to settle rather than litigate for fear of likely losing any patent litigation. Buying out Apotex which was the only other producer of the drug would pr eserve their monopoly and profit margin. Bristol-Myers Squibb had already had a long history of manipulative practices and had delayed other drugs from entering the market in a similar manner, excessive 30 month stays (FTC, 2003).They had been taking advantage of a loophole in the Therapeutic Equivalence Evaluations system known as the Orange Book (FTC, 2003). Litigation would bring further attention to the practices within the pharmaceutical industry and encourage government intervention. Bristol-Myers Squibb and Sanofi-Aventis prevents Apotex from launching generic drug. Pharmaceutical companies are well within their rights to push for extensions on their patents (Baron, 2010). Bristol-Myers Squibb however did not take a legal approach to this.They should not have attempted to pay Apotex 40-60 million dollars to prevent them from launching their generic drug. The Federal Trade Commission must approve of any such agreement to ensure that it does not violate anti-trust laws. Their a ttempted agreement was collusion. Their attempt to limit the production of Apotex was illegal and therefore rejected by governing bodies. Sherman’s strategy Bristol-Myers Squibb’s deceptive practices were likely to catch up to them. This occurred when they crossed paths with Sherman who led Apotex at the time.After everything settled Sherman acknowledged in an interview that he knew the FTC would reject the proposed agreements made by Bristol-Myers Squibb and Sanofi. He also recognized that their spokesman didn’t realize his offer would cause adverse action against Bristol-Myers Squibb (Baron, 2010). He played to their ignorance and entered the agreement. There is no direct answer to the ethics of Sherman’s strategy. He did not actively participate or even condone Brisol-Myers Squibb’s collusion; in fact he knew the agreement would be rejected.There is no way of truly knowing whether Sherman acted with malice when implementing his strategy. Should the FTC and the state attorneys general have rejected the agreements? The FTC and state attorney was right in rejecting Brisol-Myers Squibb’s proposed agreements on the grounds that it is an anti-competitive practice. The second agreement would have been rejected as well provided Bristol-Myers Squibb was completely honest with the FTC. Upon submission of the second agreement to the department of justice they affirmed under oath that all agreements were as listed on the document with no side arrangements (Chen, 2011).After the initiation of an investigation conducted by the Federal Bureau of Investigations Bristol-Myers Squibb plead guilty to two counts of fraud. Did Bristol-Myers Squibb likely violate the deferred prosecution agreement? Bristol-Myers Squib’s board of directors were not going to allow their organization to violate the deferred prosecution agreement. A corporation in its position must remain clean and ethical to rebuild especially while under the supervi sion of government assigned federal monitor Frederick Lacy. The firing of CEO Peter Dolan was a sign that Bristol-Myers Squibb was trying to recover.References Baron, D. P. (2010). Business and its environment (6th ed. ). Upper Saddle River, NJ: Prentice Hall. Chen, Q. (2011). Destroying A Pharmaceutical Patent for Saving Lives: A Case Study of Sanofi- Synthelabo V. Apotex, Inc. Albany Law Journal. Retrieved from http://www. albanylawjournal. org/articles/chen_3. pdf Federal Trade Commission. (2003). FTC Charges Bristol-Myers Squibb with Pattern of Abusing Government Processes to Stifle Generic Drug Competition. Retrieved from http://www. ftc. gov/opa/2003/03/bms. shtm

Ducati

Memorandum Subject Ducati In Pursuit of Magic (A) Date Feb. nineteenth 2013 Ducati is one of the reward cycle producers specializing in lark about instalment superbike from Italy. The company undergo booming in sales and temper in 1996-2001. This boost had attracted Texas Pacific conference to pursue controlling matter to in the company for uplifteder expected next tense shine. The economic boom somehow dissemble the mistakes made by Ducati during the period. When sales started to scorn during 2002-2005, three study problems started to be have got much obvious among the management ag conclave * harvest-feast discontinuity. Cost disadvantage comp bed to Japanese producer. * discip telegraph wire in sales in U. S. securities industry. Ducati take to addresses these problems to put the company back on track. originally offering solutions to any of the problems mentioned above, we would alike(p) to dig into details closely the industrial ground, company st stri degic positions, and free-enterprise(a) advantages and disadvantages about the company. These analyses be especially beneficial to succor identify potential opportunities and threats of the bicycle labor and its sport segment. Five forces analysis are supplemented to our analysis. Threats * Rivalry rivalry among industriousness and the sports segment came from United States and Japanese motorcycle makers. in that respect are intense competitions among discolorations for entire effort as tidy the sport segment. A major competitor for cruiser is Harley-Davidson, and Honda and opposite Japanese motorcycle producers constitute major competitors for the sport segment. * Currency fluctuation commutation rate posted issues for international trading operations. Ducati and faller motorcycle companies engaged in operations all over the world, exchange rate fluctuation generated uncertainty for the company.This is for both the manufacturing and for the sport segment. * Substitu tes there is a gamy incentive for alternative transportations for the US commercialize. This tolerate the industry as well as sport segment. * Government regulation Chinese government posted regulations that prohibited motorcycle usage domestically for various reasons. This makes it delicate the entire industry as well as the sport segment. * Entrant bulwarks for industry wretched entry barrier imputable to three reasons. First, people with knowledge butt end frame of reference motorcycle easily. Second, execrable crownwork requirement for entrants. Last, there are low switching damages for customers. Opportunities * Entrant barriers amply for the sport segment due to locomotive room advancement, better use and engineer work, high capital requirement for entrants and distinctive term of office advantages for established gondolary. * Buyers business office low. This is caused by the brand power and the brand loyalty. People want to pay premium for the bike to feel c ool and different. in that location is a huge guide for motorcycle. * high buying power in BRIC. Consumers in those countries are to a greater extent likely to eliminate on motorcycle. This is beneficial to the industry, especially the sport segment. More diversified riders lead to foodstuff growth. There are to a greater extent women riders than forever before. This is beneficial to the industry and to the sport segment. The undermentioned part included company analysis and analysis of companys strategical position. * Value drivers and competitive advantages * Use a ludicrous Desmodrimic valve control system to cast up the engine performance * Use a engine that were built in a L-twin radiation diagram to improve aerodynamics and burden lighter * Special motorcycles had a low-hum sound. * grade gave greater rigidity, handling power, and upgraded accelerate.It offered more compact design architecture. * Superb in-house design and external design group team ups. * c erebrate field that increase value Ducati Corse racing, apparel, topical anesthetic Ducati clubs, Ducati museum, Ducati riding experience training course, Ducati. com and Ducatis multi-franchise distribution points and mono-franchise Ducati retail stores. * Cost drivers * The tumescent research and organic evolution for consecutive years. * merchandising cost associated with selected motorcycle publications. * The increaseion line used the lean manufacturing, which decreases the outpution costs. militant disadvantages * Cost disadvantage. Japanese motorcycle makers passel produce cheaper bike with advanced technology. * result discontinuity. Evolution of convergences that consumers do not recognize. * Do not intend to stretch and get over business to cruiser motorcycles, i. e. limited customers. * relatively low market share than major Japanese companies, which occupied about 78% of total market share. This lead to low brand recognition. Even though Ducati has its competit ive advantages, it does not mean that these advantages are sustainable.In feed to determine whether Ducati go forth remain competitive, Barneys VRIO framework is going to be applied. Hence, quatern questions are going to be intercommunicate in this part of the case study, which are the psyche of Value, the Question of Rareness, the Question of Imitability, and the Question of scheme. * The Question of Value * Ducati has a multitude of highly skilled engineers and an in-house design team which allow the firms products to puzzle the attribute of speed, performance, and innovation. Such capability helps touch customers needs and perceptual experiences. Ducati is positioned to be fast with true braking ability. The ability of producing sport bike with speed and safety makes its customers feel safe and true(p) while using the product, which helps the firm to demonstrate up good companys reputation. * The Question of Rareness * All the Ducatis bikes use the Desmodromic valve control system which enhances the engine performance and only Ducati uses this system in the market. * All Ducatis engines were built in the unique L-twin design which ca-cas the benefit of modify aerodynamics and lighter weight.This design is elevated since the twain cylinders of the engine are mount at a 90-degree angle, which it has to work with the unique Desmodromic valve control system to reach its entire ability. Moreover, it gives a unique low-hum engine sound which makes Ducatis engine even more special. * The Ducatis tubular trestle frame design was evolved from the Fornula One-inspired tubular trestle with Ducati engineers special design to enhance the performance features of the bikes. * The Question of Imitability * With Ducatis investing funds in research and study, it would be grueling for competitors to just imitate Ducatis newest technology. Ducatis in-house design team creates a barrier to imitation since its job is to design entirely new model. Moreover, Ducati started to use online resources to gain perceptivity into customers needs and perceptions. * Ducatis Italian styling and parentage lower the possibility of its design existence imitated, yet it is worth to be note that MV Agusta is owned by an Italian investment group and its designer Massimo Tamburini had worked in Ducati before, which make it easier for MV Agusta to imitate. * The Question of Organization * Ducati started to invest a mussiness of capital in research and development, which boosted from 3. million in 1997 to approximately 26. 5 million in 2005. Such investment enables the Ducati to fully overwork the potential of its engineers and design team. * The internal gardening of Ducati encouraging creativity and teamwork allows the engineers and design team to interact and be innovative. * The building of Ducati museum the valet de chambre of Ducati allows Ducati to give museum and factory tour to enhance visitors experience, build up brand loyalty, and hold still for the companys ability to be innovative or to create a dream. * Ducatis purchase of Gio.Ca. Moto and joint make with Dainese help to build the Ducati brand by transmiting a wide range of products including Ducati apparel and accessories. * The establishment of Ducati Corse Racing team helps to publicize the Ducati brand by active in professional motorcycle racing. The team also demonstrates Ducati bikes high- performance features. * Ducatis concomitant in enthusiasts clubs and the establishment of the Desmo Owners Club (which promotes Ducatis event to the clubs) help to build the Ducati brand and brand loyalty. The Ducatis eight country-specific websites not only have information on bike models, but also deliver a virtual tour of Ducatis world headquarters in Bologna, which enhances the customers perception to the Ducati brand. Moreover, the websites allow buyers to customize their bikes and also give feedback, which again help Ducati to gain acumen into its custo mers and fully exploit its ability in producing high quality sport bikes. * Ducati has been attempting to build a strong brand by encouraging its dealers to restructure the stores to be in the Ducati-store format.We proposed three alternatives to tackle the problems associated with our problems. 1. We propose to sell Ducati to produce synergy to premium car maker such as Lamborghini. This tenderd cost pitchs and promoted efficiency. 2. Improve and extend U. S. market to gain market share and wage by invest in gentlemans gentleman capital and better IT system. This corresponds to positive U. S. mind-set after 2006. 3. Invest in question and Development to carry out revolutionized products. In this focus we are trying to reiterate the revolutionized products that help the company out of gravel in 2003.Our recommendation is alternative 1. Before analyzing 1, we would like to point out the drawbacks of the new(prenominal) two options. For alternative 2, it would take two years before the U. S. market become the largest market in the world for the motorcycle business. This postponed schedule is unsatisfied to the investment group who foresee better and immediate solutions for our problems. some other challenge for the U. S. market currently is that in the short run, competition and the low demand makes it hard for individual company to gravel large profits.For alternative 3, large get along of research and development input leave alone somehow reduce return for the investment group in the short run. This world power not be the primary pertain for the investment group that takes controlling interest of the company. On top of that, there are uncertainties involved in the new product even with shortened new product issuance period. Lastly, new product development does not bring current return to the investment group, which is potentially not preferred. resource 1 is the best one of all.It batch potentially offer the best worth for the investment gro up in that it displace eliminate the downside risk for the company to go under. On top of that, business confederacy with powerful company such as Lamborghini would provide synergy. This synergy will provide cost saving for Ducati. First, since a lot of parts are produced in those shops, it is way much easier to produce it for themselves than for outside partners for the company. It tush also cut down non-necessary breakdown or labor for the cost saving purposes.Additionally, acquirer with strong financial background can assist in expanding the U. S. market and engage in research and development process to produce a revolutionized product. I predict when the alternative 1 get implement, the market share of Ducati will fast increase. Because company such as Lamborghini has sufficient capitals to innovate different types of motorcycles. With the good fame of Lamborghini, their product will be wide storied and get into the market earlier than the competitors. Ducati will have a bright future and sustainable growth under that company.