The Importance of the Earl of Kent in Shakespeares King...

The Importance of the Earl of Kent in King Lear The Earl of Kent plays a small but important part in Shakespeares play King Lear. From the beginning scenes to the end we see a minor character that is used to show the values that Shakespeare believed in. Whether Kent is an example of the dutiful servant or plays the intermediary between Lear and Cordelia he is essential to the functioning of the plot. The role of Kent is important because of the use Shakespeare has for his character in giving the reader an example of what the values are in the play. In Kent the reader sees a man who is loyal to his King but is not blind to the wrong that this King has committed Kent is also able to defend his King even though he has†¦show more content†¦Lear no longer wants the burdens of being the ruler he only wants the prestige that goes along with the job. Kent realizes that Lears older daughters, Regan and Goneril, do not deserve to rule Britain and that he has made a mistake by giving them power at the cost of his own. Kent sees what Lear cant see. Once you hand your power over to someone your own standing suffers. The loss of the Kings standing is seen in the way Oswald has lost respect for the King. After Kent has come back to Lear, in disguise, the reader sees the first challenge to the Kings power. Upon inquiring of Oswald where Goneril is. Oswald ignores the Kings request and leaves him unanswered. It is here that we see the lost respect for the King because of the loss of his power. It is in this scene that we see Kent take on the role of protector. Kent forces Oswald out of the Kings presence because of his lack of respect and duty to his King. Oswald is another minor character that Shakespeare uses to build his plot on as well as to illustrate what some of the vices of the time were. He is the negative counterpart of Kent. We see Oswald again after Lear leaves Goneril to go to Regan for assistance and the treatment he thinks he deserves. Kent is sent by the King to tell Regan of the Kin4s approach and of the lack of respect he has been shown by his other daughter. When Kent meets up with Oswald again, Kent attacks Oswald because of the dishonor he has done to the King as well as theShow MoreRelatedEssay about Lears Character Development in Shakespeares King Lear1210 Words   |  5 PagesLears Character Development in Shakespeares King Lear Though King Lear, of Shakespeares play, King Lear, wrongs both Cordelia and Kent in his harsh treatment against them, the unjust actions of Regan and Goneril against King Lear cause him to be a man more sinned against than sinning (3.2.60-61). 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His plays have been revalued and reinterpreted in terms to the complexities and especially ‘milieu’ ofRead MoreNatural Law Of Shakespeare s King Lear1664 Words   |  7 PagesDr. Andreacchi ENG4U1 January 6, 2015 Natural Law in Shakespeare’s King Lear King Lear is one of the most famous tragedies, which was written by Shakespeare between 1603 and 1606. During that period, the social unrest swept across the whole England, and the rise of capitalism led to moral turpitude. With the high-speed economic development, many old ethics and moralities had been gradually forgotten and destroyed. Therefore, King Lear can be seen as a true portrayal of the social phenomenaRead MoreShakespeares Use of Madness as a Theme in King Lear2035 Words   |  9 Pages Edgar first assumes the disguise of Poor Tom as Lear and the Earl of Gloucester enter the cave in which Edgar is hiding. Since Edgar was banished, similar to Kent, who is also present later in this act, he must conjure up a disguise. 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Marketing Research on a Wig Store in Vienna Free Essays

1. Executive summary †¢ Marketing Problem Introduce a new wig distributor to the Viennese market. †¢ Purpose of Research Project The purpose of the research is to find out if there is potential growth for a wig business in Vienna, and what kind of wigs are the most demanded. We will write a custom essay sample on Marketing Research on a Wig Store in Vienna or any similar topic only for you Order Now †¢ Method Primary research will be focused on understanding the needs and wishes of our major target group- religious Jewish women, secondary research will be focused on our positioning against competitors on the Viennese market. Qualitative Research The purpose of the qualitative research is to collect, analyze and interpret data by focus groups, which also include samples from wig collection to figure out the preferences of our main target group. †¢ Quantitative Research In our quantitative research the main aspect of consideration was the questionnaire that we distributed in main community centers (Beit- Halevi, Jewish Heritage Centre of Lauder Business School, Sephardic Centre and Main Synagogue of Vienna). †¢ Qualitative analysis This topic is mainly about analysis of the focus group and finding out the results from it, analyzing them. Quantitative data analysis conclusion 6 With the result of our questionnaire and the comparisons with other data, we were able to reach precise results. †¢ Final analysis and results After all the collected data and its results, we have managed to find out the result of our research. †¢ Conclusion and recommendations Here we make recommendations and a final conclusion on the wig demand in Vienna, preferences of our main target group, how should our service look like and the growth potential of wig business industry in Europe in the role of new distributors. Appendix A – Questionnaire This appendix has the complete questionnaire, which our respondents answered. †¢ Appendix B – Questionnaire in Hebrew This appendix has the Hebrew questionnaire, which our respondents answered. 2. Statement of research purpose and objective 2. 1. Marketing problem 2. 1. 1. Marketing research Problem: The purpose of this marketing research project is to find out whether the wig business has any growth potential in Vienna. We would like to find out who could be our immediate customers and who could be o ur potential customers. We are looking to see if we currently have any competition in this industry in Vienna and what are the chances of there being further competition in the future. Additionally, we will try to figure out what is the market price for the 7 wig industry and adjust our products to the market price. We aim to study and understand how to make marketing research for the potential growth of the wig industry in Vienna. 2. 1. 2. Marketing decision Problem: For our marketing research project, we want to unravel the question of whether or not the wig industry has any growth potential in Vienna, Austria. This question will require us to answer more than one marketing question regarding this dilemma. Firstly, according to the current state of our research we do not have any specific knowledge/information regarding the demand for wigs in Vienna, Austria, amongst different groups of customers. Secondly, we do not have concrete knowledge regarding our possible competitors in the wig market. In addition to that, as of the current situation we do not have any specific targets for the prices we would like to charge for our wigs and the preferences of our main target group. . 2. Purpose of research project In China there is a manufacturer of wigs called ‘Sarah Wigs’, and we would like to be its distributors in Europe. Our first milestone is Vienna, Austria. We want to conduct an exploratory research first of all in order to know the potential growth of the wig business in Vienna, Austria and then in case we get positive results- we will be able to open up a chain of wig store al l over Europe and get profits from this business. Research Questions we will have to answer : †¢ †¢ †¢ How large scaled is market and demand for our product? Who are our potential customers? How large is demand on our product in Vienna? How can we find out there age, gender, respect of income and their willingness to pay for our product? 8 †¢ †¢ †¢ †¢ †¢ What are the prices we should be charging for our wigs? Will it be profitable for us? What are the main types of wigs preferred by Jewish religious women living in Austria? How should our service look like? What could be the potential demand for wigs in the future? Who are our competitors in a given market and how can we predict the level of sales we should expect over the next five years? 9 3. Research design and methodology 3. 1. Secondary research Before conducting primary research we needed to conduct secondary research. We divided secondary research into three parts. First we would gather information from the internet (from blogs, web-sites, discussions) and try to analyze general priorities, characteristics and values of Kosher wigs’ consumers who are married orthodox Jewish women. We knew it would be a great challenge to find out precise and accurate information about the demand and uses amongst married orthodox Jewish women who are also Viennese residents from the worldwide web, but still we knew that the information even if not 100% accurate and even though not going into much detail would be helpful for us to see what the demand for kosher wigs in Vienna is. We needed to have enough knowledge about kosher wigs’ consumers as well as about the rules and obligations according to the Jewish Halakha law. We found out that the Halakha law is the same for every married Orthodox Jewish woman, no matter of her place of residence, to cover one’s hair after getting married. Only after finding out some general information we would narrow our research and specifically focus on consumer behavior in kosher wigs’ market in Vienna. We would like to gather information from already existing wig companies located in Vienna. However, once again because the field of research is very narrow we had to research a lot and at the same time be very specific and accurate on what our research target was. For this reason we decided to contact Jon Renau an international wig company located in Vienna which provides kosher wigs/Sheitel with Kosher certification under the Bedatz Hecksher from the Bais Din of Rabbi Gross in Eretz Yisroel. Our third step would be to conduct an experimental research in a given wig company and observe the natural consumer behavior during natural circumstances. Our main research 10 question was to find out the current demand for kosher wigs in Vienna, Austria at present. We also wanted to find out the characteristics of the most desired and purchased wigs (paying a close attention to quality, length, and type amongst other things). We further wanted to find out what is the average price consumers are willing to pay for kosher wigs. The main advantage of this kind of secondary research was that we would be able to gain reliable data from an already existing company and we would be able to use this data figures to plan for the future when it comes to our company. First as planned we gathered information from internet web-sites and blogs about Kosher wigs. We wanted first to find out what is the primary concern for a married orthodox Jewish woman wearing a wig. As we found out the main concern for consumers is to have the certified proof that the wigs are manufactured under rabbinic supervision according to Halakha law and that the wigs do not contain any Indian hair in them. We also wanted to find out the general attitude of a married orthodox Jewish woman towards wigs and correspondingly her willingness to pay for it. As we found out Jewish women don’t find wigs as a luxury but as a requirement and obligation required by the Jewish religion. For this reason Jewish women don’t find wigs as a luxury but as a pure obligation and requirement to properly observe their religion. For this reason their average willingness to pay for natural wigs is high and on average ranges from 900-1200 Euros. After secondary research would be gathered from the internet we decided to conduct secondary research from real businesses, from an already experienced wig company located in Vienna which specifically focuses on providing kosher wigs to married orthodox Jewish women living in Vienna. Taking into consideration all these facts we chose the Jon Renau company. Jon Renau is a family owned business that has become an international leading manufacturer of wigs, hairpieces, hair additions and hair extensions. We visited one of the 11 main representative offices of Jon Renau, which is located in Vienna. We contacted Andrew, the store manager, through his Rabbi- Rabbi Wolf and asked the following questions: 1. What percentages of your total sales are the sales of kosher wigs? Andrew told us the following: â€Å"When we were opening representative office in Vienna we thought that demand for specifically Kosher Wigs wouldn’t be high taking consideration the small population of Jewish married women in Vienna. However nowadays according to our analysis on average 200-300 wigs are sold monthly to people living in Vienna out of which up to 30 are Kosher wigs. On Average it’s 10 % of our income and considering the small population demand turns out to be high. † 2. What the mostly desired characteristics of the purchased wigs are? Andrew said that it is very hard to answer this question because even in this narrow field taste is very different. However, he said that 60% of women purchasing kosher wigs prefer European natural hair, and the favorite colors are black and brown. 3. What is the average price a married orthodox Jewish woman is willing to pay for a wig? According to their statistics on average women are willing to pay 800 Euros and more, depending on the type of hair used, length, color and where the wig was manufactured. 3. 2. Qualitative research – focus group 3. 1. 1. General We conducted one focus group to collect our qualitative research data. There were eight women who attended and took part in the focus group. Our focus group was recorded and consisted of a number of open-ended questions. 3. 1. 1. 1. Group selection The selection of our members was based on the following criterion: 12 †¢ †¢ Gender, they all had to be women Age, we wanted to have a wide range of ages. Anything from 18 years old to 75 years old. †¢ †¢ †¢ Religion, they all had to be orthodox Jews City of residence, they all had to be Viennese residence English speakers, as we will conduct the focus group in English thus all participants have to speak English. 3. 1. 2. Place Due to a lack of budget, we had to be quite strict with our expenditure costs and thus decided to limit the cost expenditures for the conduction of the focus group to an amount of no more than â‚ ¬500. This meant that we could spend up to â‚ ¬200 on a place to hold the event of the focus group. Knowing that all the women who would attend the focus group would be married orthodox Jewish women, we had to choose a modest (not too fancy) place where we could provide kosher refreshments. Hence, we conducted the focus group in the Lauder Business School Mensa, where we provided light refreshments and soft drinks. 3. 1. 2. 1. Asked questions The majority of the questions asked were open-ended questions. This will allow our participants to voice their opinion and have discussions with us and the other members participating. We will be asking the following question during our focus group. 1. Tell us a little bit about yourself? 2. How many wigs do you own and how often do you wear them? 3. What is your preferred color of a wig? Why is it preferred? 4. What do you consider a good quality wig and what types of hair do you like for your wig? 13 5. Where do you usually purchase a wig, and why? 6. What is the average price you are paying for a wig and what influences your decision? 7. Will the fact that the company is donating 10% of its revenues to a charitable organization influence your purchasing decision? 8. Which wig from our samples did you like the most, and which the least. Explain why? 9. Will you consider buying a wig from us- ‘Sarah Wigs’ in the future, and if so how much would you pay for this. 3. 3. Sampling plan In the beginning of the project we faced a decision upon what sampling methods to use. We decided to use cluster sampling (probability samples) for our questionnaire and convenience sampling (nonprobability samples) for our focus group. Cluster sampling: this type of sampling first divides the targeted population into subpopulations. We took our Viennese Jewish population and divided it into three subpopulations where we were mostly likely to encounter orthodox Jewish married women. We divided our population into the following subpopulations: †¢ †¢ Jewish ethno groups – according to synagogues Jewish schools in Vienna – where mothers pick their children up Convenience sampling: this form of sampling obtains a sample from convenient elements. This means that participants are selected because they fit the criterion of those people who we seek to obtain information from. We used this form of sampling for our focus group and approached the women in places where we know they are most likely to be orthodox Jewish married women. 14 3. 4. Data collection instrument To answer the main questions we had in our project proposal plan we came up with a questionnaire and a list of questions for our focus group. These questions had to answer our four main questions from the proposal but even more so in further depth. Our four main questions in the project proposal were as follows: 1. Who are our potential customers? 2. What is the current demand for wigs in Vienna, Austria? 3. What are the prices we should be charging for our wigs? 4. What could be the potential demand for our wigs in the future? We conducted a questionnaire to answer these questions in more depth and detail. The purpose of the questionnaire was to answer the following questions: 1. Do you live in Vienna? This will answer our questions about roughly how many customer we will have in Vienna, as we will open our store in Vienna. 2. What is your age? This will be helpful for our general information about our potential customer. 3. Which ethno religious group do you belong to? This will answer our question about what ethno groups are residing in Vienna and if these ethno groups are the ones who pay much emphasis to the wig wearing Halakha law. . Which movement do you belong to? This will answer our question about what streams of Judaism do those potential customer who are residing in Vienna belong to and if these Jewish streams are the ones who pay much emphasis to the wig wearing Halakha law. 5. Have you ever used a wig? 15 6. Why not? These two questions above will allow us to see if this individual is a potent ial customer for us. 7. Do you own a wig? 8. Why not? These two questions above will allow us to know which individuals are potential clients and which are not. 9. How many wigs do you own? This will allow us to have a rough estimate of what the demand for wigs will be. 10. How often do you purchase a new wig? Here we will answer our question of what is the frequency in which these women purchase new wigs. 11. How often do you use wigs? Here we will be able to see who will be a more frequent customer and who will be an occasional customer, as a woman who will tell us that she uses her wig on a daily basis is one who is likely to purchase new wigs more frequently, whilst a woman who tells us that she rarely uses her wigs is one that is less likely to be a frequent potential customer of ours. 2. What color of wig do you prefer? This will answer our question regarding the preferences in the colors of wigs that our potential customers will have. We will be able to know what colors are most favorable amongst our potential customer group and thus assist us in knowing what products we should supply and more or less in what quantities. 13. What type of hair do you prefer? 16 Li kewise, this will answer our question regarding the preferences in the type of hair for the wigs that our potential customers will want. We will be able to know what hair type is most favorable amongst our potential customer group and thus assist us in knowing what hair type wigs we should supply and more or less in what quantities. 14. What types of wigs do you mostly own? This question will once more give us further in-depth regarding the preferences of the types and styles of wigs that our potential customers like the most and will assist us in knowing what wigs we should supply at our store, once opened. 15. What is an average price of your currently owned wigs? ( in â‚ ¬) This question will allow us to know the average price we should charge for our average wig. 6. What is your net family annual income( in â‚ ¬) This will further give us insight about the abilities of our potential customers. We will be able to see roughly what socioeconomic group we are dealing with and thus adjust the products we supply accordingly. 17. Where did you buy these wigs? This question will allow us to see who our main competit ors are which will allow us to further investigate and after investigation plan a means to provide our potential customers greater satisfaction than they currently get from our competitors. 18. Have you ever heard of our company? This question will allow us to see how many of the potential customers know about us and about the service we plan on providing. It will allow us to see how much marketing we need to do, where and to whom. 19. Where did you hear about it? 17 This will allow us to see in which places we are already known and in which places we are not yet known. 20. Will the fact that a company is donating tithe from every sold wig influence your purchasing decision? This question will answer a few matters of interest that we have in finding out. †¢ Firstly, it will give us further in-depth into how we need to conduct our marketing campaign. Secondly, it will allow us to promote ourselves to our potential customers and future potential customers by creating an image of our company, as a company who does charitable work and so on and so forth. 21. What would you expect from your new wig? This will answer our question of what are the main expectations our potential customers have from purchasing a wig and thus allow us to meet these criterions. The purpose of the focus group was to answer the following questions: 1. Tell us a little bit about yourself? Find out a bit more about our potential customers; get some more insight to their personal life, religious life, etc. Get insight into what ethno religious group do they belong, what religious stream do they fellow and so on and so forth. This will answer our question about what ethno groups are residing in Vienna and if these ethno groups are the ones who pay much emphasis to the wig wearing Halakha law. 2. How many wigs do you own and how often do you wear them? Here we will be able to see who will be a more frequent customer and who will be an occasional customer, as a woman who will tell us that she uses her wig on a daily basis is one who is likely to purchase new wigs more frequently, whilst a woman who tells us that 8 she rarely uses her wigs is one that is less likely to be a frequent potential customer of ours. (We acknowledge the fact that different ethno religious groups have different frequency usage, part of the time they may wear a wig and part of the time they may use headgears) With regards to the part of the question concerning the quantity of wigs they own, this will allow us to ha ve a rough estimate of what the demand for wigs will be. We will also be able to see the frequency in which these women purchase new wigs. 3. What is your preferred color of a wig? Why is it preferred? This will answer our question regarding the preferences in the colors of wigs that our potential customers have. We will also be able to generate information about underlying reasons of the preferences of our main target group. This will assist us in knowing what products we should supply and more or less in what quantities. 4. What do you consider to be a good quality wig and what types of hair do you like for your wig? This will allow us to have further insight regarding what quality are our potential customer looking for when purchasing their wigs. What criterion do our wigs need to meet in order for them to consider it to be a good quality wig. With regards to the second part of the question this will help us to understand the preferences in the type of hair mostly demanded. 5. Where do you purchase your wigs? Please specify the name of the store, the name of the website, the name of the magazine, or the name of the factory from where you order it, and why? This will give us information about who our main competitors are and what competitive advantages do they have. 10. What is the average price you are paying for a wig and what influences your decision? 19 This will give us insight about what are the prices our potential customers are willing to pay for a wig and thus will allow us to adjust our pricing accordingly. 6. Will the fact that the company is donating 10% of its revenues to a charitable organization influence your purchasing decision? This question will answer a few matters of interest that we have in finding out. †¢ Firstly, it will give us further in-depth into how we need to conduct our marketing campaign. Secondly, it will allow us to promote ourselves to our potential customers and future potential customers by creating an image of our company, as a company who does charitable work and so on and so forth. 7. Which wig did you like the most and which of the wigs did you like the least? Please, explain why. After providing the sample wigs to our focus group members, we will able to have a better understanding of the priorities our target group has. 8. Would you consider buying a wig from us (Sara’s Wigs) in the future and if so how much would you pay for this wig? This will show us how many potential customers we in actuality have. This will give us insight about what are the prices our potential customers are willing to pay for a wig and thus will allow us to adjust our pricing accordingly. The last two questions were presented to our participants after having shown the sample of our wigs. 3. 5. Experimental research The main purpose of our experimental research was to observe consumer behavior and find out if the kosher wig market business is profitable in Vienna. Thanks to the Jon Renau 20 Company and their extremely kind store manager, Andrew we were able to conduct this experiment for one month. Our experiment was of such a nature: †¢ For one month we observed consumer behavior with which we were able to answer following questions: ? On average how many kosher wigs are sold in a month? ? What are average monthly profits that the company makes? ? What wigs do customers like best? ? What wigs do customers like least? We observed that out of 280 wigs sold in a given month 27 were kosher wigs. The profits made from these 27 wigs amounted to 24,400 Euros. 8 wigs purchased were European manufactured ones, and most desired colors were black, brown and blond. Surprisingly to us the most desired length of wigs was short and customer ages ranged between 23-50 years old. This experiment was extremely advantageous to us as we were able to observe consumer behavior in a natural environment without any artificial questions to which people had to think and answer theoretically . 3. 6. Data collection and data entry In order to make more in-depth marketing research we had to do secondary research as well as primary research. Secondary research was divided in two parts. †¢ First we searched for general information and opinion about what are the main concerns and characteristics of Kosher wigs in Internet (from blogs and web-sites) †¢ Only after that we narrowed our research and focused on one specific company who sells kosher wigs in Vienna. After secondary research we conducted primary research and also divided it into two parts; qualitative and quantitative. We conducted focus groups where we used non- 21 representative (convenience sample). We specifically chose married Jewish orthodox women who would discuss their opinions and concerns and give us sufficient information to help us see what the demand for kosher wigs in Vienna, Austria is. In quantitative research we used cluster sampling. In our research we applied the following types of research methods: †¢ Secondary research ? Information gathering from already existing sources ? Experimental research †¢ Primary research ? Survey ? Focus Group 22 4. Data analysis and results 4. 1. Qualitative data analysis results †¢ Is there a demand for a new wig store in Vienna? According to our focus group we have seen that our main target group, Jewish religious women are greatly interested in a new wig distributor in Vienna. Due to the fact that covering one’s head in Jewish religion is both – a Torah commandment and a tradition, the percentage of women wearing wigs is very high among all Jewish religious women, namely Ashkenazi Jews and some Sephardic. For instance, after conducting a focus group we understood that a lot of different aged women are ready to purchase wigs for themselves and their daughters, cousins, and sisters , etc. and that there is a demand for a shop offering kosher certified wigs. However, the exceptional cases comprised low- class women, which thought our prices to be too high. Low-class women thought there is no need for a new wig distributor in Vienna, they didn’t like our price ranges and claimed that there are already stores offering wigs, and moreover it is much cheaper to order wigs online. Even after sug gesting that we would like our price to include 10% â€Å"mesuda†- donations to poor children and orphanages, they were not willing to pay â‚ ¬1200 for a wig, a price of wig charged by our suppliers, the company ‘Sarah Wigs’ in China. We explain it with two reasons. First of all, donations are obligatory in Jewish religion, and a person should anyways donate 10% of his income to charity, so there is no need for our suggestion to those people who are scarce of monetary resources. Secondly, religious life can be sometimes very expensive, including higher costs on kosher food, maintenance of a lot of children, costs on accommodation in the Jewish districts. Therefore, low-class families cannot afford purchasing a wig for this price. However after watching sample wigs we offered they agreed the quality to be 23 ood, and admitted they would like to receive such kind of a wig as a present. Since our target group is initially middle-class and wealthy women it would be a challenge assessing them. Surprisingly, we found out which kind of service our potential customers would like to experience. In order to understand the psychology of these women, we should look inside the traditions and rules of life according to which th ese people have been living almost for 6000 years. They are very modest and extremely conservative. While the conversation they complained about the lack of privacy in the wig stores. For instance, some of them consider showing their hair among other women as something of an immodest behavior. So one of their wishes was to have a private service in a wig store, where they could feel comfortable and try all the variety of wigs. However some of them didn’t have problems with trying out wigs in a common hall. General reception of our sample wigs was very good. Independently of the age, annual income and ethno religious group, they liked the quality of our wigs. They liked the type of hair used, how naturally they looked, and the way they are made, the material used inside. In conclusion, our focus group and the reaction to the samples provided indicate that there is a demand for a new wig distributor in Vienna, offering one-to-one service. †¢ What is the average age consumption in the market? And how much they are willing to pay? We described our main target group as Jewish religious women, but who is considered to be a woman in a Jewish religion. Is there any specific age when girls become women, and start covering their heads? After an extensive research conducted on our target group, we found out this is not about a specific age. For instance, a girl becomes a woman after getting married, and since she is married covering her head is obligatory. Therefore, the average age consumption for 24 our product is 18 – 82, as 18 is considered the allowed age to get married in Judaism (YAAKOV, 2006) and 82 is the average age of death among women in Austria (Pavlov, n. d. ). Due to this fact, women of different ages participated in our focus groups. We found out that the demand for our product didn’t depend on the age, but rather on the income and social level of the family of this woman. Our first focus group mostly consisted of women of a middle and high class, with annual income higher than â‚ ¬20,000. They were very surprised with the prices we offered for our wigs. When we showed them our sample wigs, they were willing to pay more than â‚ ¬1500. Our second group was quite intensive about pricing, and said their purchase decision depends highly on the purposes of their purchase. For instance, a lot of women have more than one wig. Purchasing a new wig for a special occasion, celebration or holiday is very popular. Therefore, they were ready to pay more for a holiday wig. A holiday wig is the one usually with a natural hair, handmade and preferably a long one. Moreover, the fact that we are going to donate 10% of each wig bought to charity was perceived very positively by women of middle and high class. In a nutshell, we understood that for all the women the price is mostly connected with the hair type we use in our wigs, whether it is handmade, and its readiness to be worn. Surprisingly, we found out interesting moment in a consumer behavior of our main target group. When a woman comes into a shop, she wants to see the final product, the wig ready-to-wear, which should be only adjusted with small details. †¢ Which preferences do our customers have mostly? We noticed two main preferences our target group has with regards to the length of the wig and also the type/quality of the wig. 25 Surprisingly it was the opposite of what we were expecting. We were sure that the younger generation would prefer somewhat fashionable and longer wigs than the older generation (that would rather prefer stricter and shorter wigs). However what we noticed was that the younger women prefer the strict and middle-length wig because they are going to be married or just have been married and they are still very excited about the idea of a wig, the meaning behind it (that a woman should show her real hair only to her husband because the hair is a very sensual thing). But the older women are more likely to purchase longer wigs with different haircuts because they would like to innovate with their style. For instance, they ate tired of the same image all their life. About the type and the quality of the wig almost every woman in our focus groups agreed that it should be handmade and only natural hair. The style of the wig they prefer was quite different, but women were opened for innovations. Mostly all women are accustomed to wearing a wig with a bang, for it seems to be more natural. But nowadays we are living in the 21st century, there are more innovations with every passing day- women are expecting their new wig to look natural without a bang. Moreover, part of the women was at first hesitating about Asian hair we use but after we gave them our sample wigs for a trial, they changed their opinions. In order to further create a positive image of our company, we need to think about some women- community events in which we will be able to demonstrate wigs to women who are still hesitating about the quality of the Asian hair. †¢ How our service should look like? According to our focus group we came to several conclusions with regards to the service we should provide to our customers. On the one hand, our main goal is to ensure that our shop doesn’t contradict to any Torah commandments, Jewish laws and traditions. The first and the most important thing for us would be to ensure that all wigs are kosher, that they don’t contain 26 Indian hair. Almost all women agreed that absence of kosher certificate on the wigs would influence their purchase decision greatly (they will not purchase it). The next thing would be to provide private room for women who do not feel comfortable trying wigs in the common hall. For instance, some of the women consider showing their natural hair even to other women immodest. Our staff members will also be only female, in order for all the women to feel convenient. On the other hand, our target group will not only be satisfied with a purchase of a good quality wig. They don’t know how to treat their wigs in order for them to stay in the same shape they were bought. The women complained a lot about the â€Å"Internet shopping†, they felt being left alone after purchasing the wig. Therefore we are going to introduce the â€Å"buy and stay† concept. We will offer a ‘beauty salon’ service that will be specialized in taking care of wigs. ‘Sarah wigs’ will send one of their stylists that will be responsible for this specific service. Right after the women chose a wig from our variety, the stylist will adjust it to her head. Afterwards a woman will be able to bring her wig for a wash, restyling, or any other required procedure. Of course the prices for the women, which purchased our wigs will be significantly reduced. With the help of this salon we will make our customers feel more secure. They will know that we are nearby and ready to help with any problem that might occur. In addition we decided to provide a 3-5 years guaranty for our wigs (the number of years will depend on the precise wig). We want to do so because we see the scarcity of trust among our target group. 4. 2. Quantitative analysis and results With our data collection we gained answers to our research questions. The following information is the analysis of our questionnaire: 27 †¢ Question 1: With the collected data we identified the percentage of women who are living in Vienna. As it seen in Table 1 and Figure 1, 97% are living currently in Vienna, and 3% are not. Do you live in Vienna? Frequency Vienna Valid not in Vienna Total 243 7 250 Percent 97 3 100 Table 1: living in Vienna Figure 1: percentage of people who live in Vienna 28 †¢ Question 2 In the following graph you can see the distribution of the responders by age: 15-25 years11%, 26-35 years- 20%, 36-45 years- 33% (the majority), 46-55 years- 22%, 56-65 years7%, 65+ years- 5%. With this information we can determine our target group, to which we will address our products. What is your age? Frequency 15-25 26-35 36-45 Valid 46-55 56-65 55+ Total Missing Total System 28 50 81 54 18 12 243 7 250 Percent 11 20 32 22 7 5 97 3 100 Table 2: age of respondents Figure 2: age of respondents 29 †¢ Question 3: In this question we determined to which ethnicity group each respondent belongs. Ethnicity group determines the traditions, and after- the different moves in the Judaism, to which the religious women belong. For each ethnicity group there is different traditions regarding the usage of the wig. As seen in the table and the figure below, there is a large majority- 70% of Ashkenazi women, and 27% of Sephardic women. Which ethno religious group do you belong to? Frequency Ashkenazy Valid Sephardic Total Missing Total System 176 67 243 7 250 Percent 70 27 97 3 100 Table 3: the ethno religious groups of respondents Figure 3: the ethno religious groups of respondents 30 †¢ Question 4: In this question we found the breakdown of the different movements of Judaism regarding the women in Vienna. As seen in the table, there is a large majority of women that belong to the Chabad- 70%. Then, the Gur movement with only 8%, Lithaim- 6%, Reform- 5% and Others8%. Which movement do you belong to? Frequency Chabad Gur Valid Lithaim Reform Other Total Missing Total System 176 20 14 13 20 243 7 250 Percent 70 8 6 5 8 97 3 100 Table 4: To which movement the respondents belong Figure 4: To which movement the respondents belong 1 †¢ Question 5 Comparison of total number of wigs owned and age of respondents. In the following table we compared the two variables, age and number of total wigs owned. The majority of women between ages 26-55 own 3-5 wigs (age 26-35: 11%; age 36-45: 30%; 4655: 10%). How many wigs do you own? What is your age? Count What is your age? 15-25 1-2 How many wigs do you own? 3-5 5+ T otal 12% 0% 0% 12% 26-35 8% 11% 1% 21% 36-45 1% 30% 2% 33% 46-55 5% 10% 8% 32% 56-65 0% 0% 7% 7% 65+ 0% 0% 5% 5% 26% 51% 23% 100% Total Table 5: Comparison of age and number of total wigs owned Figure 5: Comparison of age and number of total wigs owned 32 †¢ Question 6 In the following question we compared the frequency of purchasing wigs and the net annual income in the family of the woman. 30% of women that have 20,000-29,000 euro annual income are purchasing a new wig once in 5 years (the majority of that segment), the majority of the group of 30,000- 39,000 euro income- 16%, is purchasing a new wig once in 2-5 years, and the majority of the group that has 40,000-49,000 euro income, as well as 50,000+ euro income purchases a new wig once a year (5% and 3%). How often do you purchase a new wig? What is your net family annual income( inâ‚ ¬) What is your net family annual income( inâ‚ ¬) less that 10,000 10,00019,000 20,000 29,000 once a year How often do you purchase a new wig? once in 2-5 years once in 5 years+ Total % of Total 1% 24% 42% 21% 9% 3% 100% % of Total 1% 18% 30% 4% 0% 0% 54% % of Total % of Total 0% 0% 0% 1% 5% 3% 9% 30,00039,000 40,00049,000 50,000+ Total 0% 6% 12% 16% 3% 0% 37% Table 6: Comparison of frequency of purchasing wigs and net annual income 33 Figure 6: Comparison of frequency of purchasing wigs and net annual income Question 7: †¢ In this table we measured the preference of wig colors. The majority of the women prefer black (39%) and brown colors (35%), 16% prefer blond wigs, and a small percent of 4% prefer grey hair, and 2% for red hair. What color of a wig do you prefer? Frequency black brown Valid blond red grey Total Missing Total System 98 87 41 6 11 243 7 250 Percent 39 35 16 2 4 97 3 100 Table 7: Preference of wig color 34 Figure 7: Preference of wig color †¢ Question 8: In this question we measured the percentage of respondents that prefer Asian or European hair. The majority (61%) prefers Asian hair, when 36% prefers European hair. Which type of hair do you prefer? Frequency Asian Valid European Total Missing Total System 153 90 243 7 250 Percent 61 36 97 3 100 Table 8: Which hair type do you prefer? 35 Figure 8: Which hair type do you prefer? †¢ Question 9: Here we determined the percentage of respondents that prefers factory made wigs or handmade wigs. The majority (62%) prefers handmade wigs, when 35% prefers factory made wigs. What types of wigs do you mostly own? Frequency handmade Valid factory made Total Missing Total System 155 88 243 7 250 Percent 62 35 97 3 100 Table 9: Preferable type of wig 36 Figure 9: Preferable type of wig †¢ Question 10: This table illustrates the preferable price of the everyday wig for the respondents. As seen, the majority of women are buying the wig for 401-600 euro (60%), 22% prefer to buy their wig for 250-400 euro, the small number of 6%, will pay 601-1500 euro, and 8% will pay 1501+. Average price of an everyday wig Frequency 250-400 401-600 Valid 601-1500 1501+ Total Missing Total System 56 151 16 20 243 7 250 Percent 22 60 6 8 97 3 100 Table 10: average price of everyday wig 37 Figure 10: average price of everyday wig †¢ Question 11: This table illustrates the preferable price of the holiday wig for the respondents. As seen in the table, the majority will pay 1001-2000 euro per one holiday wig (70%), 17% will pay 600-1000 eur0, and only 11% will pay 2001+ euro per wig. Average price of a holiday wig Frequency 600-1000 Valid 1001-2000 2001+ Total Missing Total System 42 174 27 243 7 250 Percent 17 70 11 97 3 100 Table 11: Average price of holiday wig 38 Figure 11: Average price of holiday wig †¢ Question 12: This table illustrates where the majority of the respondents buy their wigs. There is almost equal deviation between the 3 stores (32%- Magic hair team; 38%- Michaela Nagler; 27%- Stupnig Keg), and only 1% are buying in E-shops. Where did you buy these wigs? Frequency Magic hair team Michaela Nagler Valid Stupnig Keg E-shop Total Missing Total System 80 94 67 2 243 7 250 Percent 32 38 27 1 97 3 100 Table 12: place of wig purchase 39 Figure 12: place of wig purchase †¢ Question 13: This table illustrates the amount of respondents that heard about our wig store. The majority, however, never heard about us (65%). Have you ever heard of our company? Frequency yes Valid no Total Missing Total System 81 162 243 7 250 Percent 32 65 97 3 100 Table 13: have you ever heard about our company? 40 Figure 13: have you ever heard about our company? †¢ Question 14: In the following table, we analyzed the percentage of respondents that heard about our company, and from where they heard about us. The majority heard about us from word of mouth (56%), 49% heard about us from Jewish websites, and only 42% heard about us from Facebook. Heard Frequencies Responses N heard from facebook where did you hear about us a Percent of Cases 42% 56% 49% 146% Percent 30 40 35 105 29% 38% 33% 100% heard from word of mouth heard from Jewish website Total a. Dichotomy group tabulated at value 1. Table 14: From where do you know our company? 41 †¢ Question 15: In this question we analyzed whether the fact that our company is donating 10% from our income will influence the decision of purchase. The majority (36%- mostly yes; 33%- possibly) will be influenced of this fact, and only 5% will not be influenced at all. Will the fact that a company is donating tithe from every sold wig influence your Frequency not possibly Valid mostly yes yes Total Missing Total System 13 82 91 57 243 7 250 Percent 5 33 36 23 97 3 100 Table 15: Influence of the fact that the company is donating tithe from every sold wig Figure 14: Influence of the fact that the company is donating tithe from every sold wig 42 †¢ Question 16: In this question we analyzed the net annual income of the respondents. The majority (41%) have 20,000-29,000 euro income, 24% have 10,000-19,000 euro, and only 1% has less than 10,000 euro income. What is your net family annual income( inâ‚ ¬) Frequency less that 10,000 10,000- 19,000 20,000- 29,000 Valid 30,000- 39,000 40,000- 49,000 50,000+ Total Missing Total System 3 59 102 50 22 7 243 7 250 Percent 1 24 41 20 9 3 97 3 100 Table 16: net annual income (euro) Figure 15: net annual income (euro) 3 †¢ Question 17: In this question we analyzed the importance of several factors that concern customer preference about wigs. Descriptive Statistics N I would expect my new wig with a low price I would expect my new wig to be handmade I would expect my new wig to be made in europe I would expect my new wig to be made out of Asian I would expect my new wig to have a guarante e I would expect my new wig to be of bright colours I would expect my new wig to be made out of natural matrial only Valid N (listwise) 243 243 1. 8724 1. 13735 243 3. 9712 1. 33423 243 1. 5638 . 70348 243 2. 473 1. 91364 243 2. 8765 . 68724 243 2. 0576 1. 29716 243 Mean 2. 0658 Std. Deviation 1. 08511 Table 17: customer preference about wigs 44 Figure 16: customer preference about wigs 45 5. Conclusion and recommendations After conducting the secondary and primary research we got to know that a place to a new wig distributor in Vienna can be found. We found out that there is a demand for product in the form we want to sell, and the service we want to provide. During the secondary research we were exposed to the competition that already exists in the market, but in order to have to have competitive advantage we will provide ‘buy and stay’ service, which will fill in the lack of security our customers have. In addition we came to know what are the exact preferences of ou r target group with the help of quantitative and qualitative analysis, which type of hair, length, color and style are in demand. With the help of the focus group we conducted, we understood the psychology of these women and underlying reasons for their consumer behavior. This will help us to market our product successfully, providing all the services related to it, and to communicate our company effectively. Moreover, we found Vienna as the representative capital city amongst big cities in Europe. Our research indicates that we can penetrate the Viennese wig market successfully, therefore we predict approximately the same level of demand in other major European cities. We can expect the growth of our company in Europe within 5-7 years. As a recommendation, it is required to make a further research on wig demand amongst cancer ill patients and wealthy people as part of our initial target markets. 46 6. Appendix 6. 1. Survey sample in English Questionnaire Nr. _______ Wigs demand questionnaire Interviewer: Please read all questions to the respondent as they appear on the questionnaire. Only read the bold text. Interviewer instructions are in italics. Circle the figure corresponds to the respondent’s answer choice. Example : 2 Int. : Introduce yourself to the respondent. Mention that you are a business student conducting a survey as a part of marketing research class. Briefly inform the respondent that this survey is about a wig demand. At the beginning, may I ask you a few questions to determine if you are among the persons ho I am supposed to interview? 1. Do you live in Vienna? RESIDENCE If NO thank respondent and terminate interview. 2. What is your age? 15- ­? 25†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚ ¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 1    AGE 26- ­? 35†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 2 36- ­? 45†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 3    46- ­? 5†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 4    56- ­? 65†¦Ã¢â‚¬ ¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 5    65+†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 6 3. Which ethno religious group do you belong to? Ashkenazi†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 1 ETHNICITY Sephardic†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 2    4. Which movement do you belong to? Chabad†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 1 CHA Gur†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 1 GUR Litaim†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 1 LIT Reform†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 1 REF Other†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 1 OTH 47 5. Have you ever used a wig? Yes†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 1a? Q   7 USAGE No†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 2   a? Q 6 6. Why not? Record the first response REASON a? Q 21 7. Do you own a wig? Yes†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 1   a? Q 9 OWNERSHIP No†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 2   a? Q 8 8. Why not? Record the first response REASON 9. How many wigs do you own? 1- ­? 2†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢ € ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 1    TOTAL How to cite Marketing Research on a Wig Store in Vienna, Essays

Data Management in Cognitive Financial Systems †MyAssignmenthelp

Question: Discuss about the Data Management in Cognitive Financial Systems. Answer: Introduction Financial statement analysis is widely used technique for assessing the business organizationsfinancial performance and financial position. In financial statement analysis, ratio analysis is the tool that is used for the same. In this report, financial statements analysis by using ratio analysis of Elders Limited has been done. Various types of ratios have been calculated and interpretation of same has been done. Liquidity ratios, profitability ratio,solvency ratios, efficiency ratios has been calculated and analyzed in this report (Aggarwal Gupta, 2016). General meaning of ratios and information extracted from ratios of Elders Limited has been conducted in this report. In this report, ratio analysis of three consecutive three years i.e. 2014, 2015 and 2016 has been undertaken. Elders limited areone of the largest agriculture based or agribusiness organization in Australia.An Elder limited islisted atstock exchange of Australia as EDRSF and has been traded all over. Elders limited wereestablished in 1839and has been leading the rural business area since then. Currently size of Elders limited has reached to greater level of heights in terms of scopeand coverage of business operations. Current market of Elders limited includes Australia as well as other countries as well.Elders limited areengaged in providing agriculturalservices and various agricultural products. Financingservices to farmers, real estate and banking services, livestock and grain trading and many other products and services related to agriculturalsector. Particulars Formula 2016 2015 2014 Gross profit margin Gross profit / sales x 100 18.25 % 19.54 % 19.11 % Net profit margin Netprofit / sales x 100 3.15 % 2.54 % 0.21 % Gross profit margin is theprofitability ratio that is used to analyze primary profit earning ability of the business organization. Gross profit margin analyses sales revenue and gross profit earned during the reporting period. Gross profit margin is calculated in percentage terms and profit earning capacity from core business operations of the business entity can be analyzed by the same. In case of Elders Limited, gross profit marginhas shown adequate results during all three reporting years. Management of Elders Limited is able to earn higher level of sales revenue and able to control cost of sales during all three years (Salehi, Seraj Mohammadi, 2014). Gross profit marginof Elders Limited suggests stability in terms of earning capacity. Trend of gross profit margin has shown greater stability and ability of Elders Limited to maintain same level of sales revenue and control cost of sales effectively. Therefore it can be concluded that gross profit margin of Elders Limited has shown effective and attractive results in terms of their basic business operations. On the other hand, net profit margin or ratio is used to analyze cost management and cost control efficiencies of the business organization. Net profit margin is used by various stakeholders in decision making process related to various aspects. Net profit margin is mainly analyzed by banks, funds providers, and prospectiveinvestor, share holder and other external stakeholders. In case of Elders Limited, their net profit margin in all three years has shown adverse management or adverse control over cost or expenses. Net profit marginalso determines how stable and liquid business organization is and in this case Elders Limited has proved to be less attractive business organization (Wahlen Wieland, 2011).As compared toearning capacity of competitors Elders Limited has only able to generate 3.15% in latest financial years. Despite of higher gross margin, they has adverse profitabilitybecause of less efficient management as they are not able to control cost or expenses (Lam, 2009). EfficiencyRatio Particulars Formula 2016 2015 2014 Receivables Turnover Sales / Debtors x 365 4.36 times 4.32 times 4.72 times Asset Turnover Sales / Average assets 2.37 times 2.61 times 2.77 times Efficiency ratios are generally used for the analysis of how efficient business organization is, In terms of their business operations. Efficiency ratios are used to analyze business performance of the entity during the reporting period or financial year. Efficiency of business is mainly assessed from its working capital management and day to day business activities. Therefore in this case, receivables turnover and asset turnover ratios have been used. Receivable turnover ratio is used to analyze efficiency of the business organization in terms of debtor management. Receivable turnover ratio denotes time taken in collecting or turnaround receivable of the business organization during the reporting period. Receivable turnover ratio of Elders limited has shown adequate results as they are able to rotate or maintain cash conversion cycle at lower level in all three years (Bartlett, 2011).In all three years, Elders limited is able to maintain constant level of receivable turnover and this has supported management in maintaining liquidity in the working capital. Elders limited are able to turnaround or collect cash from debtors in less than 5 days. This shows efficiency in credit management and effective credit policy adoption. On the other hand, asset turnover ratio has been used that denotes asset utilization efficiency of business assets of the business organization. Since assets are procured to be used in business activities of the business organization. Therefore there shall be effective utilization of same in the business operations. In case of Elders Limited, asset utilization in the business operations has show great results. As their asset turnover ratio is more than 2 times in all three years. This denotes that business assets are used to earn sales revenue more than 2 times of total assets in all three years (Ribera et al., 2016). Liquidityratio Particulars Formula 2016 2015 2014 Current ratio Current assets / Current liabilities 1.13 times 1.09 times 1.01 times Quick ratio Quick assets / Current liabilities 0.83 times 0.77 times 0.73 times Liquidity in the business operations or in working capital management can be defined as the level of cash or cash equivalent maintained in order to meet current obligation during the reporting period or day to day obligations. Every business organization is required to maintain liquidity position in their working capital. Liquidity in working capital management is required in order to manage day to day operations. For this purpose, current assets and quick assets havebeen used for the analysis. Current ratio can be defined as the ratio which is used for the purpose of establishing relationship current assets and current liabilities of the business organization. Current ratio of the business organization denotes level of liquidity or cash availability with the business organization to effectively manage their working capital. Elders limited areable to maintainadequate level of liquidity in its business operations as their current ratio is more than 1 in all three years. Current ratio of Elders limited says that they are available with sufficient cash or cash equivalents with them all 3 years, so as to manage their day to day business expenses. On the other hand, quick ratio has also been used for assessing deeper liquidity position of the working capital (Davis, 2015). Quick ratio does not undertake into account those assets on which cash or cash equivalents has been incurred or investment has been done i.e. inventories and prepaid expenses. In case of Elders limited, quick ratio shows moderate level of working capital management. As their quick ratio is at lower side in all three years.This can risk their cash position and may lead to higher financing cost (if they use bank overdraft or any other short term source of finance) SolvencyRatio Particulars Formula 2016 2015 2014 Financial leverage Total debt / Total equity 4.69 209.02 - Interest coverage ratio Earnings before interest and tax / Finance cost 3.5 times 3 times 1.13 times For every business organization maintaining solvency position is the prime requirement in terms of maintaining adequate level of debt and equity. Solvency position can be accessedthrough capital structure of the business organization. Optimum level of capital structure shall be maintained by the business entity so as manage its solvency risk (Tomczak, 2014). In this case, financial leverage and interest coverage ratio has been used to assess solvency position of Elders limited. Financial leverageis the ratio that I used to analyze solvency position of the business entity. In order to calculate financial leverage of the business organization capital structure analysis is required to be carried out. Debt structure is analyzed in order to calculate financial leverage. In this case of Elders Limited, financial leverage has been used to analyze level of debt used to finance assets of the Elders Limited. In case of Elders limited, financial leverage in last two years has shown adverse results because their debt is higher than their equity. Higher utilization of debt possess risk in the capital structure and solvency is at higher risk. Elders limited has reliedmore on using debt for supporting assets, therefore this has resulted in higher solvency risk in 2016 and 2015. In the year 2014, debt is not used in the business operations (Soyode Bande, 2016).Interest coverage ratio is used to analyze solvency position of the business entity in terms of ability of paying interest or financial cost of using debt in the businessorganization. Interest coverage ratio uses earnings before interest and tax of the entity and then analyzes it with financial cost of the year.Elders limited have been able to manage and maintain better solvency position in last two years 2015 and 2016 terms of interest coverage ratio as their interestcoverage is more than 3 times as compared to finance cost.In the year 2014, they have faced solvency issue in terms of interest coverage. Prospective and current investorsof the Elders limited will be satisfied with the results. Share market performance Particulars 2016 2015 2014 Share price movement See chart below Earnings per share 0.57 0.45 0.06 Earnings per share are the indicator of how much earnings has been available for equity shareholders during the reporting period. Earnings per share are the indicator of share price of the business organization or in other words it affectsshare price. Earnings per share is the per unit earnings of the shareholders who has invested in the business organization.In case of Elders limited, their earningsper share during the last three years from continue business operations have been at adverse side (Swamy, 2014). Main reason behind low earnings per share is lower net profit margins earned during the reporting period. Therefore this will not attract more investors to invest in business of Elders limited. Share price of the business organization is measured by incorporating various internal and external environmental factors of the business organization. Share price of shares of business entity denotes effectivenessin terms of market operations. Elderlimiteds share price movement during last three consecutive years denotes that acceptable level of fluctuation. Higher fluctuation on the share price denotes instable business performance and ineffective market efficiencies. But in case of Elder Limited, their share price in last three years has moved to higher side. It can be seen that in 2014, share price of Elder limited is less than $ 1and has shown worst result. In 2015 and 2016, Elder limited has improved their market and businessoperations efficiencies. Therefore this has resulted in increase in share price in both 2015 and 2016 years. Conclusion From the analysis of above report it can be analyzed that there Elder limited is able to maintain adequate level of business operations or able to manage business operations. From the analysis of profitability ratio, it can be concluded that cost or expenses shall beeffectively managed by the Elders limited. Gross profit ratio has shown great results. In terms of liquidity ratio, liquidity in the working capital of Elder Limited is at adequate level. It can be concluded that, efficiency of business management has been at efficient side because of adequate receivable and asset turnoverratios. Elder limited is solvent business entity as suggested by interest coverage ratio and financial leverageof last 3 years. It can be concluded that, overall business management of Elder limited has shown attractive and effective results. Recommendation After conducting ratio analysis on the financial statements of Elders limited, following recommendation has been made to effectively manage their business operations: In order to manage or reduce administrative and operational cost, total quality management capabilities shall be implemented. This will reduce cost and expenses and ultimately increases net profit margin. Asset turnover ratio shows effectiveness of assets in utilizing to earn more sales revenue therefore Elder limited shall procure more assets to generate more sales revenue. Financialleverage is required to be maintained and more use of internal funds i.e. equity and reserves shall be undertaken (Value, 2013). After analysis of share market performance of Elder limited, it is recommendedto current investors to hold their investment in equity shares of Elders limited as their liquidity and efficiency has reflected positive sign of development. Therefore investors are recommended to hold share in Elders limited and if possible more investment shall be made in equity shares. References Aggarwal, N., Gupta, M. (2016). Returns from Financial Statement Analysis Among Low Book-to-Market Stocks: Evidence from India. IUP Journal of Applied Finance, 22(2), 47-61. Bartlett, M. (2011). Calif. State Charters To Provide Efficiency Ratios. Credit Union Journal, 15(36), 1. Davis, P. (2015). BBT Chief Provides Updates on MA Deals, Liquidity Ratios. American Banker, 1(F304) K F Lam. (2009). In the determination of weight sets to compute cross-efficiency ratios in DEA. Journal of the Operational Research Society, 61(1), 134-143. Ogiela, L, 2012. Data management in cognitive financial systems. International Journal of Information Management, International Journal of Information Management. Ribera Boigues, S., Zargari, Ahmad, Chapman, Hans, Joshi, Nilesh. (2016). An Empirical Factor Analysis of Efficiency and Profitability Ratios in the U.S. Retail Industry, ProQuest Dissertations and Theses. Salehi, M., Seraj, A., Mohammadi, R. (2014). The Effect of Intellectual Capital on the Profitability Ratios in the Banking Industry: Evidence from Iran. IUP Journal of Bank Management, 13(1), 38-52. Soyode, A., Bande, B., 2016. Predicting corporate financial troubles with accounting ratios : Evidence from Nigeria. Journal of Financial Management Analysis, 29, 1, pp. 38. Swamy, M. (2014). Case Studies of Corporate Misgovernance: A New Approach to Financial Statement Analysis. International Journal of Business, 19(1), 99-112. Tomczak, S. (2014). Comparative analysis of liquidity ratios of bankrupt manufacturing companies. Business and Economic Horizons, 10(3), 151. Value, D., 2013. A Guide to Useful Ratios for Understanding Your Social Enterprises Financial Performance. Demonstrating Value, pp.7-8. Wahlen, J., Wieland, M. (2011). Can financial statement analysis beat consensus analysts recommendations? Review of Accounting Studies, 16(1), 89-115.

Predicting School Violence Essays - Motivation,

Predicting School Violence This is an overview of the types of constructs which one might look at to determine if a student is in a high risk category for acting out in a violent manner, and the types of tests which would measure those constructs. We will look at some of these predictors, the constructs they attempt to measure, and how this might aid in predicting future behavior. There have been a lot of studies, interventions, programs, and models designed to reduce or predict violence among our youth. The strongest predictor being past violent behavior. Most of these studies have been linked to some type of deficiencies in the home environment and school environment. The overwhelming question facing America now is - Why would a student who has almost anything he desires, living in an upper middle class neighborhood, bring a gun to school with the purpose of killing his classmates and teachers? The question for researchers is - Can we predict which students are likely to engage in this type of behavior? The resounding answer so far seems to be negative. There is not any test, inventory, or self-report scale which can tell us which students will act out in this manner. However, reviewing the literature there appears to be different types of measurement when looked at aggregately, might identify those students who would be at higher risk although they do not show a past history of violence and therefore fall outside of the previously researched areas. Some of the things we would hope to assess in identifying violence-related attitudes, beliefs, and behaviors among youths would be broken into three categories: 1. Attitude and Belief Assessments - aggression, couple violence, education and school, employment, gangs, gender roles, television, handguns 2. Psychological and Cognitive Assessments - aggressive fantasies, role models, attributional bias, depression, psychological distress, fatalism, future aspirations, hopelessness, hostility, moral reasoning, perceptions of self, responsibility, self-efficacy, impulse control, self-esteem, empathy, and social consciousness 3. Behavior Assessments - concentration, aggressive behavior, conflict resolution skills, drug and alcohol use, handgun access, leisure activity, parental control, social competence, social problem solving skills, victimization, disciplinary and delinquent behavior. 4. Environmental Assessments - exposure to violence, family environment (adaptability, bonding, cohesion, relationships), quality of life, quality of neighborhood Assessment of Self-Esteem One of the psychological and cognitive assessments we choose to look at is self esteem. Self-esteem has been viewed in different ways. Block and Robins (1993) have viewed it as a global entity: "we view self-esteem as the extent to which one perceives oneself as relatively close to being the person one wants to be and/or as relatively distant from being the kind of person one does not want to be, with respect to person-qualities one positively and negatively values". Self concept theory has stressed that self-esteem is an attitude about oneself as a whole (global self-esteem) as well as one's functioning in specific areas of concern to oneself (specific self-esteem). Relatively little is know concerning relationships between a child's self-esteem and observations of the child's behavior. Most have come to a clinical assumption that children with externalizing behavior suffer from poor self-esteem. The other issue about self-esteem revolves around whether or not it is a stable trait or a fluctuating state. Heatherton and Polivy (1991) referred to the short-lived changes in an individual's self-esteen as "state" self-esteem and developed a scale to measure it called the State Self-Esteem Scale (SSES) which is a 20-item Likert-type scale designed for measuring temporary changes in individual self-esteem. There are three self-esteem factors in the scale: Academic Performance, Social Evaluation, and Appearance. Coefficient Alpha for the scale equals 0.92. Linton (1996) conducted a study to test its validity by comparing it with the Rosenberg Self-Esteem Scale. It consists of ten items answered on a four point scale from "strongly agree" to "strongly disagree". The scale has a Guttman scale reproducibility coefficient of 0.92 and a test-retest correlation of 0.85. Her results showed a significant correlation between self-esteem measures on the Rosenberg Self-Esteem Scale and four components on the SSES. She demonstrated that SSES measures four distinct components within the state self-esteem construct and provides evidence that there is a fluctuating nature of self-esteem. It also supports the use of the SSES for study within the adolescent populations. Another study by Frankel (1996) compared Piers-Harris Self-Concept Scale(PHS) and the Child Behavior Checklist Inventory (CBCL) with the Pupil Evaluation Inventory (PEI) to get a better understanding of why children with internalizing problems (withdrawal, somatic complaints and sadness) consistently demonstrate low self-esteem, while results of children with externalizing behaviors (aggression, poor impulse control, and non-compliance) have been inconsistent.

The Changing View of Slavery essays

The Changing View of Slavery essays Justus Engelhardt Kuhn and Robert S. Duncanson held respected reputations for their artistic abilities. Kuhn was the first Maryland portrait painter, of German descent from the Rhine Valley who continued his painting until his death in November 1717. Duncanson was a pre-Civil War African-American painter widely recognized as one of the great landscape artists. Given the time period and background of the two artists, one can expect their artwork to also differ in style, content, and meaning. Kuhns Henry Darnall III as a Child and Duncansons Uncle Tom and Little Eva appropriately reflect societys different and changing views towards slavery during each of the artists time periods. The first stark difference that stands out about the paintings certainly has to be the setting. Despite the fact that both paintings contain some form of a master and a slave, the setting certainly is different. Kuhns painting is set on a balcony with a balustrade behind the child along with formal gardens and pavilions behind that are complete fictions. During that time period, no properties in America looked like this. Kuhn was meeting the illusory desire of Colonial gentry to seem like important extensions of European culture (Pohl 65). This type of grandeur did not begin to be realized for another century or so, when Americans were actually able to accumulate wealth comparable to Europe. These types of aristocratic pretensions (Pohl 65) made it seem appropriate that there would also be a strict division of class during the time. With such a class difference, one can deduce that servitude or some form of slavery would also be accepted during the time period. This argumen t is validated by the fact that the slave population was growing dramatically during the first half of the 18th century when the number of slaves rose from 15,000 to 100,000 (Pohl 64). The setting for Duncansons painting is sligh...

How to Locate TreeView Node By Text

How to Locate TreeView Node By Text While developing Delphi applications using the TreeView component, you may bump into a situation where you need to search for a tree node given by only the text of the node. In this article well present you with one quick and easy function to get TreeView node by text. A Delphi Example First, well build a simple Delphi form containing a TreeView, a Button, CheckBox and an Edit component- leave all the default component names. As you might imagine, the code will work something like:  if GetNodeByText given by Edit1.Text returns a node and MakeVisible (CheckBox1) is true then select node. The most important part is the GetNodeByText function. This function simply iterates through all the nodes inside the  ATree  TreeView starting from the first node (ATree.Items[0]). The iteration uses the  GetNext  method of the TTreeView class to look for the next node in the ATree (looks inside all nodes of all child nodes). If the Node with text (label) given by  AValue  is found (case insensitive) the function returns the node. The boolean variable  AVisible  is used to make the node visible (if hidden). function GetNodeByText(ATree : TTreeView; AValue:String; AVisible: Boolean): TTreeNode;var Node: TTreeNode;begin Result : nil; if ATree.Items.Count 0 then Exit; Node : ATree.Items[0]; while Node nil dobeginif UpperCase(Node.Text) UpperCase(AValue) thenbegin Result : Node; if AVisible then Result.MakeVisible; Break; end; Node : Node.GetNext; end;end; This is the code that runs the Find Node button OnClick event: procedure TForm1.Button1Click(Sender: TObject);var tn : TTreeNode;begin tn:GetNodeByText(TreeView1,Edit1.Text,CheckBox1.Checked); if tn nil then ShowMessage(Not found!) elsebegin TreeView1.SetFocus; tn.Selected : True; end;end; Note: If the node is located the code selects the node, if not a message is displayed. Thats it. As simple as only Delphi can be. However, if you look twice, youll see something is missing: the code will find the FIRST node given by AText.

Unemployment during the Great Recession Assignment

Unemployment during the Great Recession - Assignment Example This means that these individuals are working in low paying freelance, contractual and part time jobs and out of these individuals who constitute the 26%, 27% of the employees were only working with a retirement plan and 39% were working with a health insurance. According to Allan S. Blinder, an economist at the Princeton University stated that in the next two decades, the US employers are going to outsource and about 22% to 29% of the US jobs will be available to offshore employees. The statistics of the US Bureau of Labour Statistics show that during 1979 to 2000, the number of temporary workers working within the US rocketed up from around 0.4 million to 3.9 million which is an eye opening increase of 760 percent and during 2000, the total percentage of the workforce of the US working as temporary/part-time workers was 2%. The condition of the US work force is such that they are constantly working day and night since they are being paid in accordance to piece rate or an equal syst em. They do not have time to take part in social life and they even have to ignore their recreational side. This is because they know that the job market is in such a bad position that if they seem to produce less even as freelance or part-time workers, they will end up losing their jobs. During 20009 the government of the US increased the minimum wage of employees to $7.25 but this increase is on lower than the minimum wage paid 30 years down the road in context of real value. Another major concern is the pay accordance to education, those who were earning minimum wages during 1979 at least had a high school degree this constituted a total of 57.5% of the total workforce of 1979 (Economic Policy Institute 2012). During 2008, the number of people of the workforce who had a high school degree has increased to 71.9% but the minimum wage rate has

Generally Accepted Auditing Standards (GAAS) Essay

Generally Accepted Auditing Standards (GAAS) - Essay Example ements are prepared in accordance with the accounting standards with a view to provide reliable, comparable and very useful information to various stakeholders, but also they are duly audited fairly and reported properly. Given the multiplicity of transactions involved, it is not easy for the ultimate owners to go through each and every entry so as to safeguard their interests. Auditors normally perform such functions. In the United States, the American Institutes of Certified Public Accountants have prescribed Generally Accepted Auditing Standards in order to facilitate fair auditing procedures. These Auditing standards mostly deal with what auditors should be performing, how they should do the fieldwork and what they should report. These auditing standards specify that audition function should be done by qualified auditors with appropriate technical skills and proficiency, free from such mental attitude that may obstruct auditing process and should have the capability of giving independent opinion on the books of accounts and accounting practices followed. Further, the auditing standards discuss the importance of checks and balances to be instituted by auditors in the fieldwork not only concerning auditing and accounting procedures but supervising assistants. And, finally, the standards provides a very good description of the meaning of independence that needs to be exercised by auditors while providing opinion. It has to be fair on the issue of comprehensiveness of accounting procedures, their sufficiency, transparency and ability to provide such opinions. Given the institutional feature of corporate America, there is a need to understand the meaning of corporate governance. Though the subject attracted a wider interest with formulation of Cadbury Code by London Stock Exchange in the early 1990s, the collapse of giant organizations like Enron and Worldcom attracted wider interest in United States and elsewhere internationally. The fall of various public

Master Slave Dialect Essay Example for Free

Master Slave Dialect Essay The insightful analysis of Hegel in his Phenomenology of Spirit concerning the development of self consciousness revolves around the important impulse to â€Å"Self Consciousness† in which he details the master/slave dialectic. Contrary to preceding German Idealists, Hegel does not hold the assumption that the conscious agent is self conscious a priori; rather, the agent must establish this notion of self-conception through experience. This experience become developed through time and is therefore associated with the concept of â€Å"history†. It can even be claimed that any development of self consciousness must be conditioned historically as much as it draws upon the demands of desire and the means to its sating. Self consciousness is therefore far from innate with regard to individual agent. This break with tradition appears to be in arguing that self consciousness emerges out of non-self consciousness over time in a process which is conditioned historically. Commentators are however not in agreement in regard to the specifics of this historical process and its holistic ontological location, particularly in the nature of the process which underlies the development of self consciousness. Alexandre Kojeve finds Hegels dialectic of the mater/slave relationship to be referring to historically conditioned, material processes. The basic question concerns the amount of historicity required for the development of self consciousness: is it a purely external process brought about by the conflict between two living beings, or is it an internal struggle that encompasses the conflict between various faculties? Kojeve argues for the former interpretation. Kojeve on the Historicity of the Master/Slave Dialectic Kojeves analysis of the master/slave dialectic integrates Marxist conception of class struggle with Hegels phenomenological account. Beginning with Hegels view of desire, Kojeve holds the assumption that the physical creature is the basic unit of consciousness and the locus of desiring. It is from this foundation that humans, together with animals, have desire referred to as the drive to alter external shapes or forms of being to that which would suit their own interests and being. Desire seeks to transform the world, to negate the external object in its own existence and put it to the use of the desiring being. Kojeve, for instance, points to the desire of hunger as a clear example of a desire that a being has that negates the very existence of an object through radical change. The essence of human being lies in this power of negation; he argues that man is negating action, which transforms given being and by transforming it, transforms itself (Kojeve, 1980: 38). The difference that lies between human desire and animal desire is that human desire goes so far as to surpass itself. Humans possess desires that result in the negation of their conception as natural beings. This leads to the possibility of self consciousness which needs â€Å"transcendence of self with respect to self as given† (ibid 39). The key to this transcendence could be human desire if it focuses on that which liberates oneself from that mode of being. The ability to desire non-being is characteristically human and enables an individual to free himself from the concept of being that so enslaves human life. Instead of corresponding to the pulls and pushes of nature, humans can employ desire to transcend the mere â€Å"freedom of the turnspit† and achieve self consciousness. Kojeve is stressing on the biological basis of the master/slave relationship by labeling biological drives â€Å"desires†. The major difference between humans and animals is the ability of humans to desire non-being or death. According to Kojeve, the ability to desire non-being is the extreme limiting case of human freedom. Humans are free from their essence in the most basic way possible; they can opt to end it through their own desires. It is at this point that a desiring consciousness makes the realization that there are more than objects of desire in the world. The desiring subject becomes cognizant of other conscious beings in the world. According to Kojeve, a conscious being can only be satisfied when the other desiring conscious meets its desire for recognition. This is not a natural reciprocation from other beings, and the consequent lines of action are competitive in nature. There exists a struggle between the two agents in a life and death fight for recognition of the other. It appears that since humans demand recognition from the other being and possess the capacity to transcend natural animal desires through the desire of non-being, a struggle ensues between these desires. It seems as if Kojeve is arguing that freedom and ultimate worth reside in the ability of the being to defy nature and desire, and risking destruction in the face of inclinations towards natural preservation. Why is this risk being taken? The non-essential end of this endeavor is identification from another desiring consciousness. The only moment that animals seem to risk their lives is when they are pursuing the means to preserve their life. Humans on the other hand can defy nature to achieve desired recognition from other creatures of the same capabilities. Recognition cannot be gained from any animal in this scheme. It must be from a being that can also risk all of its natural prerogatives in the pursuit of the same end of recognition. Kojeve conceives of Hegels transition from a life and death struggle to one in which no being dies as a last and irreducible premise in the Phenomenology. It appears to be a mere assumption that the deadly struggle ends in one being assuming the role of the master and the other of the slave. According to Kojeve, this results from the ability of the master, and the inability of the slave to resist his natural instincts for survival. The master was strong enough to continue risking his life, while the slave eventually succumbed to his natural desires and attempted to preserve his life through assuming the role of the slave. Kojeve suggests that, â€Å"the vanquished has subordinated his human desire for recognition to the biological desire preserve life. The victor has risked his life for a non-vital end† (ibid 42). At the beginning of the struggle, the two agents appear to be unequal with regard to resolution and stamina. The one who is to be the slave is not capable of continuing the struggle and is therefore forced into subjection as the only way of preserving his life. It must be judged therefore that if both agents had similar resolution and power, the struggle could possibly and with both being slain. This is of course a condition that would not aid the establishment of self consciousness or the extension of biological life, perhaps explaining which Hegel stresses on the ascendance of one master and the servitude of one slave. The work of the slave is the intermediary between the master and the world of nature. According to Kojeve, it is this work that enables the master to satisfy all his needs without personal expectation; the master desires while the work of the slave bends nature to meet these desires. From the masters perspective, desire is followed by immediate satisfaction. From the perspective of the slave, the desire of another is answered with their labor, which then results in the others desire being satisfied. In this scheme, the master is tied to the drives of nature; while he could risk his own natural drives to secure recognition from the subjugated other, his courage and freedom then faded into a mere pursuit of particular biological desires. According to Kojeve, the master remains a natural being, an animal since he maintains this state of egocentric desire and the satisfaction of desire. The actual action of negation and transformation that is achieved in the instantiated relationship of the master and the slave appears in that of the slave. He is the one that is acting and transforming the world, whereas the master merely has desires qua natural being. Given this foundation, Kojeve realizes that the base is set for the possibility of a historical process which is holistically the history of the Fights and the Work that finally ended in the Napoleonic wars and the table on which Hegel wrote the Phenomenology so as to comprehend both those wars and the table. History starts with the resolution of the initial struggle into two classes, those of the master and slave. All material products and future struggle are to be comprehended within this simple framework of master/slave dialectic. History is nothing but a product of the master/slave struggle, made up of entirely of such struggles, and is no more when such struggles end physically. The materialist tendencies in such a conception is quite evident especially when Kojeve remarks that man must always be either master or slave, and that beings must be in a relation with each other for them to be at least considered human. The extreme historicity of the master/slave dialectic is obvious in this conception which is important in describing not only the progress of world history but also the universal history, offering in details the interaction of humanity with the rest of the natural world. According to Hegel, the slave interacts with nature. It therefore follows that natural history details the progress of slave overcoming nature and bending it to its will. The will of the slave is however not the operative force here; instead, it is the masters mediated will that drives the slave to his interaction with nature through his labor. According to Kojeve, it is this fundamental interaction with nature that enables the dialectic reversal of the masters dominance and the slaves subservience in the Phenomenology. The reading of Hegels master/slave dialectic by Kojeve is quite materially founded in its historicity. It involves conflict of individuals or groups, and requires that they resolve into two groups; those that fear death and become the slaves and those that can surpass this fear of death by risking their life and become masters. History starts with this struggle, and the entire history is the continuation of this struggle until the slaves are finally freed from the tyranny of the masters. The sources of this ultimate freedom are work, fear, and service, but only after the slave journeys through a series of ideologies, by which he seeks to justify himself, his slavery, to reconcile the ideal of freedom with the fact of slavery (ibid, 53). The final point of history, according to Kojeve, is when the physical struggle between mater and slave ultimately ceases. History reaches its final point since it is nothing but the constant struggle between masters and slaves. It is in this note that Kojeve ignores much of Hegels true purpose behind Phenomenology. Inadequacy of Kojeves formulation The materialist reading of the master/slave dialectic has been characterized by much criticism owing to what it has ignored concerning Hegels phenomenology. In emphasizing on the purely external struggle between two agents, such a reading simplifies the integral, internal role of another in the establishment of the subjects self consciousness. Kojeve unduly restricts the master/slave analysis in Hegels Phenomenology to the external struggle between two creatures. The true reading of this dialectic must encompass other perspectives as well. The master/slave dialectic can be explicated from three perspectives. The first is the social which is exclusively adopted by Kojeve. This reading focuses on the physical, actual struggle of persons or groups to acquire recognition and power. It is however not enough to take this social perspective for the entire master/slave dialectic. The psychological perspective complements it, which regards the dialectic as an interpersonal struggle within the individual ego. With this regard, the master and slave are various powers or patterns of the mind itself. The latter perspective is one of fusion between the previous two perspectives; the ego is changed by internal processes that are set in motion due to the external struggle between agents. As far as the limitations of the social perspective is concerned, there is no problem with Kojeves analysis. The actual disagreement with Kojeve is enabling the historicity of the psychological account of the master/slave dialectic without reducing it to material conflict between physical agents. The heart of Hegels though is the Platonic parallel between conflict in the stater and conflict in the individual agent. According to this interpretation, the quest for harmony will enable the master/slave dialectic on the levels of both the social and the psychological. The psychological perspective on this dialectic is required to comprehend the succeeding development of self consciousness. Vital to this conception is the idea that the faculties of the ego must contend in order to act because a single comprehensive faculty, regardless of the number of egos, would render them either completely static or completely destructive. Therefore, internal conflict must underlie any external conflict. There is thus the possibility of giving a psychological interpretation of the master/slave dialectic as a struggle within the soul, of the ego striving for self consciousness. Problem with Kojeve according to Carl Schmitt and Emmanuel Levinas The fundamental commonality between Schmitt and Levinas is their replacement of a Hegelian conception of politics as a struggle for recognition emanating from an originary battle to the death with the view that the originary relationship is rather between the rescuer and the victim, always in the presumed presence of some third whose ethical position is not known. At the end of a century that is characterized and dominated by the dialectic of revolution and counter revolution, a shift to Levinas and/or Schmitt can help in understanding the post cold war linkage between the global and the local as a humanitarian relation between the rescuers and the victims and a political doctrine of preemptive third party intervention. Lavina argues that, by relating to beings in the openness of being, understanding finds a meaning for them in terms of being (Lavina, 2006: 87). With this regard, understanding does not invoke them but only names them. Understanding therefore carries an act of violence and of negation. Violence is therefore a partial negation. This partial negation can be defined by the fact that without disappearing, beings are within ones power. Violence denies the independence of beings. Possession is the means whereby a being, while existing, is partially denied. Lavina holds that it is not merely a fact that the being is an instrument and a tool, that is, as a means, it is also an end. According to Lavinas, peace is the paradigmatic ethical relation between one and another in proximity. As a relationship of pure exteriority of two neighbors, each of whom is incapable of knowing the others inner life, peace is entirely different in its origin and demands from the political pursuit of justice. Lavinas sees the responsibility for other human being as anterior to every question. Lavinas acknowledges politics as involving comparison, reciprocity and equality which is external to ethics and is always about peace rather than justice, and presumes human incommensurability. The specific political distinction to which political actions can be reduced is that between friend and enemy according to Schmitt (Schmitt, 1996: 26). The antithesis of friend and enemy does not contradict to the relatively independent criteria of other antitheses. He conceives of the distinction between friend and enemy to denote the utmost degree of intensity of union or separation, association or dissociation. It can exist both in theory and in practice without having to draw from other distinctions. His view shifts from that of Kojeve in the sense that he conceives of the other not to be necessarily an economic competitor. In other words, he does not view master/slave dialectic in the sense that Kojeve views it. According to him, a political enemy does not necessarily have to appear as a competitor. According to him, only the actual participants can correctly identify, comprehend and judge the concrete situation and settle the extreme case of conflict. Each participant, he argues, is in a position to judge whether the adversary intends to negate his opponents way of life and therefore must be repulsed or fought in order to preserve ones own form of existence (Schmitt, 1996: 27). Terrorism as it pertains to master slave dialect Terrorism is an ideology of violence meant to intimidate or cause terror for the aim of exerting pressure on decision making by state bodies. It encompasses a series of acts that are meant to spread intimidation, panic, and destruction in a population. These acts can either be carried out by individuals and groups that are opposing a state or acting on behalf of the state. The question of violence is closely connected with sovereignty. The master slave dialectic must be a violence that makes sense, violence that results in the production of sense in the form of man and history. Terrorism on the other hand is a senseless violence that lays waste without recognition. In order to produce history, the master slave dialectic must produce the positions of master and slave. Because the master has not encountered death in all its terrifying reality as the absolute master and the slave has, the slave possesses the power over the master. In this situation, the act of terrorism is a struggle between masters and slaves. The terrorists have confronted the reality of death. Having defeated the slave, the master forced him to work. This labor implies that while the master is idle, the slave labors at transforming the world. The transforming labor of the slave eventually gives it the power to take up once the liberating Fight for recognition that he refused initially for fear of death. Terrorism thus becomes an element of a struggle between the master and the slave. According to master slave dialectic, the course of history is determined by this struggle.