Greek Myths And Its Impact On American Culture - 1155 Words

Greek myths are stories that explain the meaning of life and teach moral lessons through the values of heroes, gods and mortals. In Ancient Greece, myths were an important part of the culture, first being told orally and in poems, then seen in architecture and theatre. Homer, the Greek poet, wrote epic poems such as the Iliad and the Odyssey, which are still revered and read extensively today. Greek myths have carried over to contemporary American culture, appearing in movies, children’s toys, clothing and books and the values of Greek myths are entrenched in today’s society. Notably, heroism is a prominent value that plays a major role in Greek mythology and continues to influence American culture today, as heroes inspire society with their nobility, bravery and patriotism. Heroism is an important value in Greek mythology and is seen in Greek heroes, including Hercules, Achilles, Odysseus and many more. Heroism is defined as the attributes of a hero, consisting of brav ery, compassion, cunning and strength. In Greek mythology, there are countless battles in which these qualities are prevalent. Hercules uses his strength to strangle the Nemean Lion, Jason shows his bravery while retrieving the Golden Fleece from the distant land of Colchis, and Theseus uses cunning when making his way through the labyrinth and killing the Minotaur. In the story of Perseus, King Polydectes sends Perseus on a dangerous mission to bring him the head of Medusa. Athena guides Perseus to theShow MoreRelatedHercules in Popular Culture1719 Words   |  7 PagesI chose to explore and analyze instances of the great Greek/Roman hero, Heracles (Hercules), appearing in popular culture and the effect his myths had on early civilizations. Considered by most to be the greatest of the Greek folk heroes, Hercules was the embodiment of masculinity and physical power. 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During the Gilded Age (1876-1900), Were the Presidents...

The Gilded Age will be remembered for the accomplishments of thousands of American thinkers, inventors, entrepreneurs, writers, and promoters of social justice. The Gilded Age and the first years of the twentieth century were a time of great social change and economic growth in the United States. Roughly spanning the years between Reconstruction and the dawn of the new century, the Gilded Age saw rapid industrialization, urbanization, the construction of great transcontinental railroads, innovations in science and technology, and the rise of big business. Afterward, the first years of the new century that followed were dominated by progressivism, a forward-looking political movement that attempted to redress some of the ills that had†¦show more content†¦Mechanization and marketing were the keys to success in this age: companies that could mass-produce products and convince people to buy them accumulated enormous amounts of wealth, while companies that could not were forced out of business by brutal competition. Railroads were the linchpin in the new industrialized economy. The railroad industry enabled raw materials, finished products, food, and people to travel cross-country in a matter of days, as opposed to the months or years that it took just prior to the Civil War. By the end of the war, the United States boasted some 35,000 miles of track, mostly in the industrialized North. By the turn of the century, that number had jumped to almost 200,000 miles, linking the North, South, and West. With these railroads making travel easier, millions of rural Americans flocked to the cities, and by 1900, nearly 40 percent of the population lived in urban areas. By the twentieth century, the rise of big business and the large migration of Americans from the countryside to the cities caused a shift in political awareness, as elected officials saw the need to address the growing economic and social problems that developed along with the urban boom. Progressives believed that the government needed to take a strong, proactive role in the economy, regulating big business, immigration, and urbanShow MoreRelatedEssay about History: World War I and Bold Experiments7600 Words   |  31 Pages1918 –1929 Part 5 Essential Questions After studying the chapters in Part 5, you should know how to answer the following questions: 1. Why and how did American society industrialize during the late nineteenth century? 2. What were the causes and consequences of urbanization? 3. How did political change and progressive reform gain momentum after 1900? 4. How did the United States emerge as a world power by 1918? 5. What tensions between the old and new existed in the 1920s? The 1920 Census

Compare and Contrast the Marketing Strategies of Li Ning Free Essays

English Language Centre Cover Sheet | Draft| X| Course Work Submission| Put an X in the box to show whether this is a draft or a credit-bearing coursework assignment Full Name (in pinyin)| | Yinqin Wang| English Name (optional)| | | ID Number| 1101133| Class (e. g. Y2_EEE_A1)| Y2_BAD_A2| Programme| Business Administration| Module Code| EAP105| Assignment Title| Compare and contrast the marketing strategies of Li Ning domestically and internationally| Submission Deadline| 22 October 2012 before 20:00| EAP Tutor’s Name| Jacqueline Banki| Final Word Count| 1057| I certify that: * I have read and understood the University’s definitions of COLLUSION and PLAGIARISM (available on p. We will write a custom essay sample on Compare and Contrast the Marketing Strategies of Li Ning or any similar topic only for you Order Now 31 of the current Academic Student Handbook of Xi’an Jiaotong-Liverpool University and in the 2011 ELC Student Handbook Appendix 2, 4, and 5). With reference to these definitions, I certify that: * I have not colluded with any other student in the preparation and production of this work; * this document has been written solely by me and in my own words except where I have clearly indicated and acknowledged that I have quoted or used figures from published or unpublished sources (including the web); * where appropriate, I have provided an honest statement of the contributions made to my work by other people including technical and other support staff. I understand that unauthorised collusion and the incorporation of material from other works without acknowledgement (plagiarism) are serious disciplinary offences. By uploading my assignment onto ICE, I formally declare that all the above statements are true. Scoring – For Teachers Use (teachers may change descriptor labels below as needed)| Marker| Initials| C| O| G| V| R| Final Mark| First – red pen| | | | | | | | Second – green pen| | | | | | | | Third (if needed)| | | | | | | | For Academic Office Use| Other Penalties| Date Received| Days Late| Late Penalty| Marker Initials| Format (Y/N)| Plagiarism Code| Collusion Code| | | | 1. | | | | | | | 2. | | | | Compare and contrast the marketing strategies of Li Ning domestically and internationally With Chinese economy developing rapidly recent years and the huge success of 2008 Beijing Olympics, Chinese sportswear market has emerged a blooming scene. Not only the mighty foreign brands such as Nike and Adidas win the favor of Chinese people, which took 10. 5% and 7. % of mainland sportswear transactions respectively in 2011, the domestic brands such as Li Ning and Anta also occupy large market share (China Daily, 2012). Li Ning, the Chinese domestic sportswear brand which bears the name of renowned Chinese gymnastic athlete Li Ning, acts a leading role in Chinese sportswear market. Only secondly to Adidas, Li Ning possesses 7. 2% market share and keeps expanding (China Daily, 2012). Not satisfied with its immense domestic achievement, Li Ning strives for more enormous stage and switches its target to international market since 2011. Notably, on the one hand, the domestic marketing strategies of Li Ning, such as opening and streamlining numerous retail stores, are somehow quite different from the international strategies like using e-commerce approach. On the other hand, the strategies domestically and internationally also share several similarities like attaching importance to branding. The emphasis of this essay is to compare and contrasts the domestic and international marketing strategies of Li Ning. Although to some extent few of these strategies are alike, Li Ning has largely followed diverse approaches domestically and internationally. To begin with, there are some similarities between the market strategies of Li Ning domestically and internationally, such as investing more in branding to cultivate its long-term competitiveness. Specifically, both domestic and international strategies take steps to sponsor famed athletes or sports team to advertise the high quality and advanced functionality of its products, which aims to make people hold a favorable impression of Li Ning. For instance, in 2012 London Olympics, various overseas medal candidates like Spain’s basketball team were signed with Li Ning (Brandchannel, 2012). Also, Li Ning grasped Chinese top gold medal forecasts in multifarious sports events like ping pong and badminton, which includes Lin Dan and Wu Mingxia who enjoy the high popularity among Chinese people (Brandchannel, 2012). Especially, the athletes who are sponsored by Li Ning are inspired to publicize Li Ning not only by wearing its products. For example, immediately after Lin Dan won the gold though the spectacular final game, the logo of Li Ning at the jersey of Lin was tugged to display a gesture of appreciations, which makes the effect of advertising cracking (Brandchannel, 2012). Furthermore, domestic strategies are also similar to international strategies in targeting young generations. Domestically, Li Ning replaced old logo and slogan to make the brand more abut to the generation born after 1990s as well as establishes new â€Å"sixth-generation stores† which attracting young clients (China Daily, 2011). World widely, Li Ning also focuses on young people because they are unbiased to Chinese brands, accustomed to shopping online and generally spend so much time surfing the Internet, which opportunely corresponds to the e-commerce strategy of Li Ning (Ad Age, 2011). Although the domestic and international strategies share some similarities, they nevertheless employ fundamentally different approaches in a number of key areas, such as using different channels to sell products. In other words, the strategies domestically direct to sell inventories mainly in solid shops, whereas the international strategies prefer using e-commerce, event marketing and digital media. In detail, numerous retail shops spread all over China are owned by Li Ning. Also, confronted the cooling Chinese economy in recent times, in order to raise the efficiency of entity sales, the company adopts measures that streamlining the network of the retail stores and entering lower tiers cities to speed eliminating premium brands by merger and acquisition(China Daily, 2012). When it turns to worldwide, to shun retail channels, Li Ning established its appropriative e-commerce sites as the only passageway to its products and released a delicate teaser video heavily on its Facebook page and twitter account (Voight, 2012). Also, microsites and events are relied to induce online buzz (Voight, 2012). In addition, the domestic and international strategies are dissimilar in the slogan and the images they are intended to shape. Domestically, Li Ning created a new slogan â€Å"make the change† to indicate that greatness is not undying, only changes can be perpetual, which not only nettles the slogan of Nike â€Å"Live through your greatness†, but also remodels the impression of Chinese people on Li Ning as a more high-end brand (Brandchannel, 2012). Internationally, the slogan â€Å"straight out of new China† demonstrates that its products leverage its rich Chinese culture and are diverse from the cheap, rough made-in-China goods as old perception considered (Voight, 2012). Furthermore, with regards to new marketing segments need to be expanded, Li Ning focus on Children garment domestically while women market segment internationally. Cooperated with local children garment firm Paclantic to design more attractive children sports and leisure clothing, the clothes could be sold in the franchised stores and affiliated shops of Li Ning in China (Wang, 2012). Nevertheless, the market segment of women who do not need intramuscular figures and desire equal positions with men are attached importance to by the international strategies of Li Ning (Warc, 2011). In summary, this essay has made comparisons and contrasts between the marketing strategies of Li Ning domestically and internationally. The domestic strategies, like the international ones, have strong sponsor awareness and also aim to attract younger generations. Despite that the international and domestic strategies have to some degree implemented similar strategies; essentially approaches are adopted in crucial areas, such as using different slogans, selling products by different channels and expanding different market segments. Although the e-commerce method ingeniously avoids complex retail channels internationally and the notion to achieve long-term profits domestically seem to be reasonable, Li Ning may ot achieve so many profits as they expected, because its vague brand positioning might cause the confusion and misconstrue of domestic people and its international consumers may despise Li Ning for its imitative logo and slogan which have some resemblance to Nike and Adidas. It is suggested that Li Ning should slow down its expansion and invest more to raise the quality and make some innovations instead of having large inventories discounted as a result of expanding too fast. Also, to have explicit brand positioning is crucial. Nonetheless, as Li Ning keeps adjusting corresponded to the changing situation and creating new products, it is too early to definitively judge whether Li Ning will have a promising future. References list Ad Age (2011). China’s Li-Ning Takes on Nike, Adidas With U. S. E-Commerce Site. [online]  New York: Ad Age. Available from: http://adage. com/article/cmo-interviews/china-s-li-ning-takes-nike-u-s-e-commerce-site/231642/. (Accessed 12 October 2012) Brandchannel (2012). London 2012: Success as Li-Ning ‘Makes a Change’ in Olympics Strategy. [online] New York: brandchannel. Available from: http://www. randchannel. com/home/post/2012/08/13/London-2012-Li-Ning-081312. aspx. (Accessed: 12 October 2012) China Daily (2011). Li Ning expects business to slow. [online] Beijing: China Daily. Available from: http://www. chinadaily. com. cn/bizchina/2011-01/18/content_11874065. htm. (Accessed: 12 October 2012) China Daily (2012). China’s sportswear brands nurse Olymp ics hangover. [online] Beijing: China Daily. Available from: http://www. chinadaily. com. cn/business/londongames/2012-07/02/content_15542591. htm. (Accessed: 12 October 2012) Voight, J. (2012). Video Is Lifeblood of Li-Ning’s ‘New China’ Sneaker Launch. online] Charlotte: ClickZ. Available from: http://www. clickz. com/clickz/news/2166538/video-lifeblood-li-nings-china-snea ker-launch. (Accessed: 12 October 2012) Warc (2011). Li-Ning plans global push. [online] London: Warc. Available from: http://www. warc. com/Content/News/Li-Ning_plans_global_push. content? ID=e7907838-2cd7-4859-ae44-f1695abdbd52;q. ( Accessed: 12 October 2012) Wang, W. (2012). Li Ning rejoins race in children’s wear market. [online] Beijing: China Daily. Available from: http://www. chinadaily. com. cn/business/2012-05/12/content_15276320. htm. (Accessed: 12 October 2012) How to cite Compare and Contrast the Marketing Strategies of Li Ning, Papers

Financial Risk Management Telstra Corporation Limited - Free Sample S

Question: Discuss about theFinancial Risk Managementfor Telstra Corporation Limited. Answer: Introduction Financial risk management is considered to be the ultimate practice of economic value in a company by using instruments so as to manage risks exposure such as market risk, credit risk, and liquidity risk (Black, Kirkwood, Williams, Rai, 2013). Financial risk management usually occurs when a particular investor or a fund manager analyzes and attempts to quantify the probability of losses in securities and they undertake the proper action given their risk tolerance and investment objectives. This assignment discusses the aspect of financial risk management in Telstra Corporation Limited and how the company uses Hedge accounting rules in its operations. Telstra Corporation Limited Overview and Business Activities Telstra Corporation Limited is known to be the biggest media and telecommunication company domiciled in Melbourne, Australia. The company makes and operates telecommunication systems and markets mobile, pay television, internet access, voice, and various other telecommunication products. The company was formed in 1901 as a result of Australian Federation. Telstra Corporation Limited has a long history in Australia as it initiated its operations as a government department and later was privatized as it has been undergoing a change strategy in order to become more consumer focused under its CEO, David Thodey. In the FY2016, the company had revenue of A$27.1 Billion, operating income of A$6.3 Billion and a net profit of A$5.8 Billion respectively. The company is considered to be the leading Technology and Telecommunication Company in Australia that basically offers a full range communication products and competing in all the communication markets (Telstra Corporation Limited annual repo rts, 2015, 2014 2013). The company offers about 17.2 Million mobile phones, 7.0 Million fixed voices products and 3.4 Million retail fixed broadband products. Telstra Corporation Limited has faced competition from Optus which is the Australian second largest communication firm and a number of small providers. The company usually operates through four divisions; Telstra Retail division that provided telecommunication services and products (Chang, Gonzlez Jimenez, 2013). Global Enterprise and Services division that offers sales for both government and business clients, Telstra Wholesale division that provides a range of telecommunication services and products delivered via Telstra Corporation Limited network and carriage services providers. Financial risks Telstra Corporation Limited exposed to According to the companys FY2015 reports, the risks associated with the firm operations comprise of credit risks, market risks and liquidity risks. Market Risk According to the firm, a market risk is considered to be the risk that the future cash flows or fair value of the firm financial instruments will basically fluctuates because of variations in the market prices (Christoffersen, 2012). Interest rate risk: The aspect of interest rates usually keeps fluctuating thus exposing the company to floating interest rate Credit Risk Credit risk is another risk that a company may not be able finishes its obligations under a financial security that leads to the company making a financial loss. The company faces credit risk exposure on all financial assets that include statements of financial position and assets. Yes, the company is exposed to these risks next year (Black et al. 2013). According to the company financial report, these risks are assessed as significant for the company within the next year because it assists the firm evaluate its operation success and allow the firm to maximize profits as it minimizes expenses on diverse activities that do not produce any return on investment. Liquidity Risk Liquidity risk is another risk that is basically associated with the company operations that includes the diverse arising from the company operations. These kinds of risk usually cause the company incapable to settling any financial obligation or even reposes financial assets at all. Primary Offsets to Mitigate Risks As most of Telstra Corporation Limited activities are exposed to diverse financial risks, the company executives seek to mitigate these risks through employing diverse finance instruments such as securities. The company uses the following aspects as primary risks for mitigating risks; Fair value interest rate risk management: In order to manage the interest rate risk, Telstra Corporation Limited decides to maintain the proper mix between the fixed and floating interests borrowings and also using the interests rate swap contracts (Dong, Kouvelis, Su, 2014). These types of activities are often evaluated so as to make sure that hedging techniques are aligned with interests rates views. Management of credit risks: For the company to minimize this kind of risk, the company only deals with the creditworthiness counterparties. The credit trustworthy and the credit rating is often monitored by the aggregate cost of the concluded transaction which is basically separated among approved business partners since there is no vital credit risk exposure to a single partner (Hull, 2012). Telstra Corporation Limited mitigates this kind of risks by ensuring that its business operations are performed effectively. Management of Liquidity Risks Telstra Corporation Limited management assesses its short term and long term funding since it is usually their responsibility. Adequate banking facilities, reserves, and reserve borrowings are basically maintained by the firm so as to minimize the liquidity risks as it is often monitored to make sure that the firm has sufficient resources to avoid this type of risks. Financing plans such as taking unsecured bank overdrafts and unsecured banks facilities are basically maintained so as to ensure that the company has enough resources for utilization. Overall Approach for Managing Risks The following are the approaches that form the overall risks management; Development of risk management framework: This framework is developed and implemented in Telstra Corporation Limited as it is inconsistent with the accounting standards used in Australia (Brigham, Ehrhardt, 2013). The Risk management framework identifies, monitor and assesses the risks. The aspect also develops and implements the process of risk management. Enhanced responsibilities: According to the aspect of risk management, responsibilities are categorized among the Audit and Risk Management member, board and the company management. Each group embraces its responsibilities as they will make sure that the company mitigates its risks at all levels. Review: The risk management policies and framework are often monitored are regular bases to measure its success (Conway, 2012). Telstra Corporation Limited often monitors and evaluates its risk management frameworks so as to check for effectiveness and replace any framework and policy that is ineffective. Adoption: Telstra Corporation Limited adopts the risk management policy and framework so as to ensure that the company productions are enhanced. Telstra Use of Hedge Accounting Rules Hedging describes the manner in which Telstra uses the financial instrument and in this case the derivatives to manage the exposure to financial risks. The gain or loss that is accrued to the underlying item that is an item that has been hedged is anticipated that it moves in a reverse direction to the gain or loss incurred on the derivative that is a mechanism that has been hedged hence offsetting the risk position of Telstra. Hedge accounting for this case heightens a technique that enables a perspective where the gains or losses to be matched with the instruments and items that have been hedged in the equivalent period of accounting to minimize the unpredictability in the income report (Kaplan, 2012). The standard of accounting that is applicable for Telstra is AASB 9-Financial Instruments which necessitates that certain norms are encountered in order for the application for hedge accounting. Telstra is also obliged by AASB Financial Instruments; Revelations to deliver some precise exposes in respects to the activities for hedging. Types of Hedges Fair Value Hedges Fair value hedges objective is to transform the interest borrowings that are fixed to rate of interest rate borrowings that is floating. Telstra enters into interest rate and swaps in cross currency to moderate the acquaintance of the company to fair value of the long term borrowing changes. AASB9 permits a component of the borrowing margins for Telstra with the cross currency swaps to be submitted in equity. The element is included in the interest on borrowing in the income report over the outstanding maturity of the borrowing. Hedge for Cash Flows The objectives of Telstra hedging for cash flow are to hedge the revelation that ascends from the inconsistency in future for cash flows of interest and foreign currency arising from borrowings that accept interest at adjustable rates or are foreign currency denominated. Hedging for cash flow is also encapsulated to alleviate the exposure of foreign exchange that arise from foreseen connections in the future (Klettner, Clarke, Boersma, 2014). The contracts of forward foreign exchange for Telstra are used to hedge a certain quota of the highly likely projection dealings that are denominated in foreign currency. The contracts in hedging for foreign currency risk for Telstra that arises from changes in the spot rates. 2015 2014 2013 High probable forecasts Millions Non Capital Items Within 1 year ($801) ($306) ($431) Capital Items Within 1 year ($135) After 1 year ($2) Borrowings Within 1 year ($539) ($1,156) ($264) Within 1-5 year ($4,168) ($2,485) ($3,768) After 5 years ($4,559) ($4,055) ($4,465) ($10,204) ($8,002) ($8,928) Hedges of Net Investment in Foreign Operations The exposure of foreign exchange for Telstra ascends from investment in operations in a foreign country. The possibility ascends from the transaction of the net assets of the enterprises from their functional currency in AUD. The enterprise term the contracts for forwards in foreign currency, swaps that are cross currency and borrowings made in foreign legal tender as hedges for the risk. Derivatives not in a Designated Hedge Relationship Telstra hold some financial instruments derivatives that are not legally designated in hedging relations as normal offsets realizes substantial the equivalent accounting outcomes. The primary composition include the contracts of forward in foreign currency that are encapsulated to economically hedge the movement of fair value that is attributable to fluctuations in the rate of exchange which include trade creditors from trading activities and other obligation and balances of assets that are denominated in foreign currency. Method of Determining Hedge Effectiveness The implementation of AASB 9 (2013) has led to a smaller amount ineffectiveness being recognized as definite cost of hedging may now be left out from the relationships that are designated for the hedges (Mayorga, Sidhu, 2012). The company utilizes the preference to disregard foreign currency base extents from the designated fair value and cash flow associations. The reserves for cash flow hedge is attuned to the lower of the collective gain or loss on the hedging mechanism and the cumulative alteration in fair value of the hedged time. The alteration does not effect in any ineffectiveness that is material. References Black, S., Kirkwood, J., Williams, T., Rai, A. (2013). A history of Australian corporate bonds.Australian Economic History Review, 53(3), 292-317. Brigham, E. F., Ehrhardt, M. C. (2013). Financial management: Theory practice. CengageLearning. Conway, S. L. (2012). Guidelines for Corporate Governance Disclosureare Australian listed companies conforming?. Journal of the Asia-Pacific Centre for Environmental Accountability, 18(1), 5-24. Chang, C. L., Gonzlez-Serrano, L., Jimenez-Martin, J. A. (2013). Currency hedging strategies using dynamic multivariate GARCH. Mathematics and Computers in Simulation, 94, 164-182. Christoffersen, P. F. (2012). Elements of financial risk management. Academic Press. Dong, L., Kouvelis, P., Su, P. (2014). Operational hedging strategies and competitiveexposure to exchange rates. International Journal of Production Economics, 153, 215-229. Hull, J. (2012). Risk Management and Financial Institutions,+ Web Site (Vol. 733). John Wiley Sons. Kaplan, R. S., Mikes, A. (2012). Managing risks: a new framework. Klettner, A., Clarke, T., Boersma, M. (2014). The governance of corporate sustainability: Empirical insights into the development, leadership and implementation of responsiblebusiness strategy. Journal of Business Ethics, 122(1), 145-165. Mayorga, D. M., Sidhu, B. K. (2012). Corporate disclosures of the major sources of estimationuncertainties. Australian Accounting Review, 22(1), 25-39. Telstra Corporation Limited annual reports. (2015, 2014 2013). Retrieved fromhttps://www.telstra.com.au/content/dam/tcom/about-us/investors/pdf-e/2016-Annual-Report.pdf Telstra Corporation Limited risk management. Retrieved fromhttps://www.telstra.com.au/content/dam/tcom/about-us/investors/pdf%20D/governance-at-telstra.pdf