Ib Business Steeple Analysis –

Every country has its own legislations however in the course of achieving their aims and objectives, businesses face challenges from both within and outside of their organizations. Those internal and external opportunities and risks will effect a firm’s gradual performance, therefore to analyze these factors and understand them to carry out effective decisions we use something called the STEEPLE analysis. STEEPLE analyses and examines the context in which the authority operates.Identifies key issues that exists (or are emerging) in the internal and external environment, by suggests how these will or may impact on the future strategy and resources. The factors are identified in these 7 areas: Social: Factors that include cultural aspects and include health consciousness that represents opportunities and threats to a business. They include aspects like income distribution, demographics, labor/social mobility, poverty levels e. t. c. For example Multiculturalism has led to a majo r boom in the trade of exports from different cultural backgrounds.Starbucks is known as a respectable employer and a business that values the workforce. They were even mentioned in the ‘Fortune Top 100 companies to work for’ in 2005. Technology: The efficiency of spending on technological advancements that may benefit or become a problem to the company. For example the new technological advancements can hinder the development of the business because of the high costs that are put into advancing the technology can interfere with the performance of the business.Hong Kong consumers are mostly capable in using computer based platforms because of highly technologically savvy population the consumers tend to look at the factor of convenience to their advantage. Therefore Starbucks has an opportunity to start a platform that will essentially provide to this need of consuming the wide public. Economic: The economic state of where the business operates is defined by inflation, unemployment, economic growth and international trade.Not only are there these four variables that determines the state of the economy but the consumer and business confidence level also determines the state of the economy that they are operating in. For example the actions of rival firms can alter performances of businesses. Hong Kong has faced a considerable flow of traffic involving tourist and travelers present in Hong Kong. A lot of mainlanders and travelers from neighboring regions have started swarming in Hong Kong due to the opening of Disneyland in 2002.The large rise of the number of consumers available in Hong Kong, whom are mostly very well off have therefore raise the consumer confidence overall. External environment: The factors that may effect any business activity and issues that should be addressed in any business strategy carried out. They include business strategies like the potential cost and benefits of a joint venture, marketing planning (like threats from othe r rival businesses), business propositions (whether to further expand the business internationally or not). Starbucks company has the opportunity to expand its global operations.Starbucks has already created branches located all globally. There are just as many Starbucks available in Hong Kong have opened over 60 new shops by the end of 2005. New markets for coffee such as India and the around the Pacific rims are beginning to emerge. Political: Government legislations like employment law, consumer protection rights, copyrights and trademark and regulations used as boundaries for the business to operate within. For example the Hong Kong government’s minimum wage policy that sets a boundary for all businesses to operate within.As Hong Kong (HKSAR) has been under the rule of mainland China for several years after the handover by the British government. Nevertheless it has business friendly laws in the land. These liberties allow Starbuck Coffee Company to be capable of operatin g internationally in Hong Kong. However it has to follow the general legislations and regulations imposed by the HK government. Legal: The government imposes various rules and regulations to ensure the protection of the general public from the negative aspects of businesses. These legislations are normally to protect consumers, competing firms, employees, the social environment e. . c. Ethics: The moral principle that should be considered during decision making in a business. For example, what is the right thing to do and what is the wrong thing to do. Minimum wage is morally right because there are people that work for the least amount of wage possible where you can not even afford a meal for a day. For those that are in need, minimum wage is morally right. Starbucks as an organization has strong ethical view and an ethical mission statement with strong ethical values as follows, ‘Starbucks is committed to a role of environmental leadership in all facts of our businessâ€℠¢.

A good leader Essay

INTRODUCTION There has been always considerable discussion about connection between great leaders and good followers. It is said that in order to be a good leader person should be a good follower. In my point of, a good leader is the person who also has been a good follower, person who has proven oneself ability to follow the instructions, who can subjugate one’s will to the will of others who has undertaken the responsibility of leadership, able to make constructive comments and debate issues when necessary and able to stand up for the principles in which one believes. The person who can manage to perform about mentioned missions can be called a good follower. However, it does not mean all good followers become always good leaders. There are some people who are astounding as choir singers but awful as choir directors. There are many great followers who are not good leaders. Nevertheless, it should be noted that good leaders and good followers usually posses the same characteristics and responsibilities which may be the main reason for considering an opinion that a good leaders also obliged to be a good follower. Leaders the ones who have brought our life many changes, make differences and make our life more interesting and interactive. But, if there were not followers there would not be a good leader, as, followers the most essential assets of a good leader. 1. Some people understand a leader simply as somebody whom people can follow or as someone who guides or directs others, while others define leader as a person who affects a group of people towards the achievement of a goal. With regard to follower, follower is a person who follows another`s teachings and  belief, one who admits the command, guidance and leadership of another one (www.vtaide.com). Some held conception that to be a good leader you ought to be a good follower. In order to be a leader, a person at first should learn how to be a good follower. Initially, majority of great leaders followed in the footsteps of other good leaders and utilized training to achieve their leadership goals. In order to have followers, a good leader must have ability to comprehend his or her followers and what the followers desire from the leader. And, the best way to implement it, the leader should be a good follower. As, rich people usually cannot understand poor people`s condition, if only the rich did not experience the poverty in their own life. The poor people can comprehend each other better because they have similar problems. Moreover, we are all followers in some spheres of our lives. And in this case, we can obtain some essential qualities and skills which help us to become a good leader. The reason for this is training which considered as a powerful tool in order to attract one’s vision to higher sights, increasing their performance to a higher standard, and forming a personality beyond its usual limitations to its full potential. For instance, in the history, the Apostle Peter had made a lot of mistakes before he followed Jesus. After following Jesus for three years Apostle Peter and his fellow-disciples â€Å"turned the world upside down†( John C.Maxwell,1998) Besides, leaders and followers divide some characteristics. 2. These are the following qualities: Awareness Ð ¡urrently, leÐ °ders have to know about different audiences including board members, customers, coworkers, colleagues, and the audience on the whole. You oblige to know what it tÐ °kes to bring them Ð °long, if you desire to be good a leader. In order to be a follower you should educate yourself how to be conscious of the requirements of public as well as their potential to â€Å"make one`s life hell from one second to the next† (Barbarra Kellerman) .Good followers study to read public and comprehend what distresses and stimulates them. Diplomacy When good followers meet a co-worker with frantic political beliefs or an offensive manager, they are maybe not going to struggle every fight. To take  part in a position of the follower is less risky, easier, and often simpler. Good followers observe how to handle with those who possess dissimilarities while not disregarding those differences. That is an essential leadership feature, for the reason that a manager or leader cannot afford to be unconscious to the relations of those people who surrounds him or her (www.success.bz). Courage Being a good follower indicates owning the bravery to disagree if you believe your manager, superior or leader is acting something incorrectly. That is always complicated, but it demands the strength of belief which is very essential to good leadership. Being a good leader is complex in methods that are rather alike to being a good follower. It means paying attention, being engaged, having the bravery to cry out when something is not proper way. Also, it means possessing the power and activity to encourage a leader or manager who is implementing things wisely and well. Collaboration In many cases, the leader influences if and how the goals are accomplished while followers are able to implement or break. Even though the leader may receive most of the credit, in many business sectors, followers are the people who are acting much of the creative work. Leaders who have been good followers comprehend how to work with people who can help to bring out the well enough in them. One of great leader said that â€Å"Was it the imaginative collective of team members at Apple, or did Steve Jobs really invent the iPod and iPhone? Currently, leaders may be reckoned up not only by how much is accomplished or produced, but by the quality of its members and the team or organization† (Ronald E. Riggio). Critical Thinking You need to be able to believe for yourself, in order to be a good follower. The best followers encourage and help the leader when he or she is acting the correct thing, and stand up to the leader when he or she is directed in the wrong direction. Many of the same qualities that we are enraptured with leaders competence, motivation, intelligence-are similar characteristics that we desire in the very best followers (www.lifehack.org). Besides, leaders, in spite of their degree, they also must follow. 3. Even though, leaders and followers share the same qualities, also, there is still much dissimilarity between them. Leader has to be isolated and independent in order to rely on himself. A bright example of this can be seen in the book called â€Å"Ender`s game†Ender had been isolated in order to make him struggle. That was the only way he would ever have been otherwise. Moreover, it made him untrusting, angry, strong and lonely. But, maybe these qualities made him a better soldier† (michaelhyatt.com). . Leader is usually the person who is being relied on his followers. Followers only must be efficient during the struggle. They have to be capable to implement the commands by their leader, with own skills. In other cases, it is not so essential to be that competent. They could ask aid from their leader or friends. But, leaders, cannot ask for aid from his followers because, otherwise his followers may consider him incompetent. Being a leader is not as easy as being a follower. Leaders illustrate inventiveness; when they have a general clutch for a project they can strategically lay out the most appropriate way to reach the final goal while followers require step by step instruction and expect direction to follow by the leader. They need regular approval and guarantee, in case, something goes wrong. Leaders are not content with simply expecting for the next step because they are very active. They disdain inactivity and when there is lack of progress. They are motivated by subjugating any obstacles in their way and accept responsibility. With regard to followers, they escape from amenability and would prefer when somebody else is â€Å"amenable† instead of them. Also, they agree with inaction as long as a leader does not motivate them to carry out the objectives. When followers usually experience obstacles in certain kind of work, they are not capable to manage with them alone. Leader is the one who can help to a follower how to handle with difficulties. Leaders are not afraid of a strong sense of anxiety or fear; on the contrary they prosper on it. They show that they have ability to manage with everything and very quick in making decisions. They attack fear and tackle it head on and show it who the boss is. With reference to followers, when they have to make a decision, they usually feel fear which causes to escape from a challenge without any real exculpation. Because they try rarely to make something new and they are not capable to risk (Dale Carnegie, 2010). Followers disdain any alterations and attempt to avoid them. Leaders are innovators and  intuitive so they accept changes. Moreover, they are aware that sometimes it is possible that some changes can be very beneficial and may help people to achieve their objectives as well as improving and flourishing their experiences too. 4. Like many traits of the prominent people, being a good leader is an elusive characteristic and very complicated to describe. Many people have different conception of a great leader. But, in my view, a good leader is the person who, first of all, has ability to make impossible things possible in order to be distinguished from other people and his followers. Also, a leader needs to comprehend what objectives and purposes are to be accomplished and needs to stick to those objectives and purposes and by never compromising with the truth. Even though, there are times when leader may have to yield a little, bend a little, but he should always have a clear vision of the final objective that he and his followers have wish to achieve. He must focus completely and totally to attaining the aim, by not permitting himself to be diverted, inactive, complaisant and negligent (www.fastcompany.com).In order to be a good leader, I would try to be quicker to evaluate and criticize myself in order th at I may benefit from my personal self-analysis and amend myself constantly and try to not to be hurry to adjudicate others. A good leader has to listen to constructive remark and must hear frank complaints and reckon up them with good criticism in order to appeal that which is affirmative and positive to the achievement of the objectives to which I am dedicated. If, I were a leader the first thing I would do is analyzing the aim which is needed to achieve and arranging everything in proper way. Analyzing includes not only finding out the goals, but, it also comprises followers or people who will work with you and what is the best appropriate method to attain the goal with the help of your team. When you analyze your followers, you will be aware what they desire and which qualities and abilities they have and how to help them to overcome and turn their weaknesses into the strength in order to achieve common goals. Moreover, it is vitally essential to work out and develop a strategy in order to attain objectives with a help of your team and find out your concur rents and enemies and how to overcome them so as to become more powerful and successful. A bright example of a great leader that I would like to take is Alan Mulally who is CEO of Ford Motor Corporation and also has taken the third place in the list of Great leaders in the world (Fortune  Magazine, 2014). He says that â€Å"One of the most essential tasks of the leader’s work is intensifying the process we are utilizing to attain our objectives. Furthermore, it is not only the way of simply asking, â€Å"How are we doing?† It is requiring, â€Å"How are we performing against the project? What are the spheres that demands particular attention? At the end of the year, what strategies have we worked out to ameliorate our fulfillment in next year?†(Rirk Kinkland, McKinsey Publishing 2013). 5. Some key qualities that I would like to possess and implement, if I were a leader are the following: Honesty and Responsibility An essential and basis element of a great leader is honesty. Your business and followers are a reflection of yourself, and if you are honest and behave yourself ethically it will be a key value for your followers to follow suit. Moreover, if you are not honest, responsible and reliable person you will not have people who will follow you. So, if your co-workers and followers do not trust you, it is impossible to be a leader. It is very important for the people who will follow you to be sure that they can rely on you and that you keep your promises. Also, the good leader should be dedicated towards his or her job because it shows that you feel responsibility. However, a good leader also must differentiate the people and followers whom he can trust in order not to be sure that his followers will always support him during attaining the goals. Communication Good communication skills aid the leader to communicate easily and to share ideas or exchange with opinions with his followers. Also, it is important to elude misunderstanding in an organization because knowing what you desire to be implemented might seem transparent in your head, but if you try to clarify it to somebody else and it may be comprehended in a different way which may cause to a problem. So, being capable to succinctly and clearly describe what you want to be accomplished is vitally essential. Besides, a leader should possess this trait to communicate with his client with various backgrounds. Vision Being a great leader also includes possessing and developing vision. It means having â€Å"vision† to forecast the future as if it were already here. A bright  example can be Steve Job, who often performed this. He created a transparent picture in minds of people how a new output would alter the world — before even it was launched. He had ability to make humans excited about the future which he imagined in his mind. Good leaders must develop the talent of vision in them as well as in followers to encourage them to be better in those skills which they possess. It helps to commit innovations and attain common goals. Positive Attitude A good leader should have a positive thinking and attitude in order to stimulate confidence and acquire inner strength. It is essential to remember, that confident and calm leader is a good example for his followers to feel the same. Besides, a great leader must motivate his followers and people around. If your followers feel happiness and are motivated, there are more chances to reach the best achievements and moving ahead. Also, a good leader must be capable to solve problem and find the solution to every problem which he encounters in life and not avoid it. And, it is usually easier to find solution to the problem when you are calm, confident and have positive mind-set. Conclusion By way of conclusion, it can be marked that being a leader is more complicated than many people expect it. Being leader requires many efforts, hard work and a plenty of affirmative traits which hare complex to attain. With regard to followers, it is easier to be a follower rather than being a leader. Even though, followers and leaders share similar qualities, not every good follower can become a good leader because there are many differences as well. One of the main differences between them is responsibility. Leaders oblige to be responsible not only for their actions, but, as well as they must be responsible for deeds of their followers. Furthermore, leaders are braver, creative and more inclined to risk. People who try to avoid challenges are better to be followers than being a leader of a group of people. I think every leader must always learn in order to be very smart and try to obtain more knowledge and experience in different kind of spheres. But, the main task of leaders to help people to achieve common goals and direct his followers. Also, leaders have to always try to  be a great person who can change the world to the positive side and make it better. References 1. Barbara Kellerman [2009] â€Å"How Followers are Creating Change and Changing Leaders† Available [online]: http://www.fastcompany.com/3029840/bottom-line/5-ways-being-a-good-follower-makes-you-a-better-leader [March 17, 2009] 2. Carol Giannantonio[2011] â€Å"A Great Leader Is A Great Follower† Available [online]:http://www.success.bz/articles/1833/a_great_leader_is_a_great_follower [July,2011] 3. Dale Carnegie [2010] â€Å"How to Win Friends and Influence People† Available [online]: http://www.lifehack.org/articles/productivity/15-best-leadership-books-every-young-leader-needs-read.html [February, 2008] 4. Fortune Magazine[2014] â€Å"Fortune ranks the World’s 50 Greatest Leaders† Available [online]: http://fortune.com/2014/03/20/fortune-ranks-the-worlds-50-greatest-leaders/ [March, 2014] 5. Gwen Moran[2007] â€Å"A person who influences a group of people towards the achievement of a goal† Available [online]:http://www.vtaide.com/gleaning s/leader.htm[September 26, 2007] 6. James M. Kouzes and Barry Z. Posner[2010] â€Å"The Truth about leadership† Available [online]: http://www.fastcompany.com/3029840/bottom-line/5-ways-being-a-good-follower-makes-you-a-better-leader[September, 2010] 7. John C. Maxwell [1998] â€Å"The 21 Irrefutable Laws of Leadership † Available from:http://michaelhyatt.com/why-the-best-leaders-are-great-followers.html [September, 2008] 8. Rik Kirkland[2006] â€Å"Leading in the 21st century† Available [online]: http://www.mckinsey.com/insights/strategy/leading_in_the_21st_century_an_interview_with_fords_alan_mulally [ November, 2013] 9. Ronald E. Riggio[2013] â€Å"Leaders lead. Followers followâ€Å"Available[online]: http://www.fastcompany.com/3029840/bottom-line/5-ways-being-a-good-follower-makes-you-a-better-leader[April, 2014]

How does Shakespeare use the theme of love to create a comedy?

â€Å"Twelfth Night† is a romantic comedy with true love at its heart. The play does have occasional dark undertones but generally the genuine love and the misunderstanding make it a comic play. It was written originally for the Twelfth Night celebrations after Christmas in 1602. These celebrations were light hearted and a time for revelry. It was sometimes known as the â€Å"Feast of Fools† and normal behaviour and sensible acts were suspended at this time. Authority was turned up side down. In most universities, private houses and the law schools, a Lord of Misrule was elected. Usually a servant became Master of the Household for a short period of time. He organised dances, masques and make-believe activities. Everything was allowed; pranks, deception, etc., ruled this period between 25th December and 6th January. Afterwards, everything goes back to normal and the original hierarchy is once more obeyed.Love Poem Even though comedy is a large part of the play, love is most definitely the main theme. There are love triangles, love based on disguise and true love al involved in the lives of the characters. The play transforms one type of love for another, for example, selfish self-love is transformed to genuine love. This aspect shows that true love wins through in the end. Shakespeare uses all of the different types of love to create comedy towards the audience. For example, the self-love is so masochistic that the audience looks on with humour with the over-exaggeration. Unrequited love also makes quite a big romantic impact because the character is seen making a fool of themselves. Twelfth Night is a mixture of all emotions; an audience will laugh, cry and fume at the characters that Shakespeare creates. There are three characters at the heart of the play involved in a love triangle. Orsino is the first that we are introduced to. Shakespeare represents Orsino as a parody of the romantic lover, in love with the idea of love. He is comic at times because of his obsession and the exaggerated language he uses to talk about love: QUOTE: ACT 1, SCENE 1 â€Å"If music be the food of love, play on Give me the excess of it, that surfeiting The appetite may sicken and so die† This quotation shows how melodramatic Shakespeare makes Orsino. It is so exaggerated that the audience would find him comical as he is portrayed as thinking that no other experience is as good as his intense feeling for love. He is obsessed by Olivia and is comical because of his obsessive nature. He also frequently seems quite fickle in his feelings which adds to his comic nature: QUOTE: ACT 1, SCENE 1 â€Å"Enough; no more. ‘Tis not so sweet now as it was before† This quotation is an example of how Orsino changes his feelings in an instant. Later Orsino is talking to Viola/Cesario about men and women in love. He claims to be the model lover, talking about his love for Olivia: QUOTE: ACT 2, SCENE 4 â€Å"For such as I am, all true loves are Unstaid and skittish in all motions else† His lines are made particularly funny and he seems unperceptive because the audience is aware that Cesario is of course a woman and that despite what Orsino says about women having less capacity for love than men, Viola/Cesario in fact loves him a lot and much more constantly than he loves Olivia. This is a good example of dramatic irony. Shakespeare satirises Orsino's exaggerated obsessive form of love. The second character involved in the love triangle is Olivia. Orsino and Olivia are quite similar in a number of ways but their main similarity is in their characters. They both provide comedy in the play because of their obsessive love and their fickleness. Examples of this for Olivia are her obsessive love for her dead brother and Cesario and how she changes from seven years mourning to loving Cesario and then changing from Cesario to Sebastian. A quotation for her obsessive nature is: QUOTE: ACT 3, SCENE 1 â€Å"Have you not set mine honour at the stake And baited it all with th'unmuzzled thoughts That tyrannous heart can think† Here, Olivia is openly expressing her love for Cesario which ends up being comical because it is unrequited. She pours her heart out which adds to the nature of the scene. Olivia criticises Orsino's stereotypical view of love because it doesn't sound real to her. Her actions towards love are actually much the same but she does not realise this, making her hypocritical and therefore criticising her own way of thinking. Also, she claims that she will never love again but that all changes when Cesario comes into the picture. Shakespeare creates her character to be an unrealistic and vain, top-class person which shows through in her language. Orsino praises her for her looks, not for her as a person and this once more accentuates their similarities and comic personal lives. This act depicts how shallow Orsino is. One of the most comical parts of the play to do with Olivia is when she falls in love with Cesario, or who the audience knows is Cesario. This is highly amusing for the audience as they know the truth and they watch Olivia make a fool of herself. Shakespeare uses love from Olivia to Viola to create a high point of comedy throughout the play. He uses over-exaggerated language once more to really highlight the shallow feelings of Olivia: QUOTE: ACT 1, SCENE 5 â€Å"Let him send no more Unless (perchance) you come to me again To tell me now he takes it† This quotation is Olivia talking seductively to Cesario, once more openly expressing her feelings for â€Å"him†. Again, comical to the audience, for seeing a woman flirt with another was a very amusing but unheard of thing at the time when this play was performed. When Sebastian appears on stage a comical effect takes place because we can imagine the blank looks on the characters' faces as an identical twin becomes part of the plot. Sebastian becomes a love interest to the fickle Olivia, once more creating comedy because of her changeability. By making Olivia so fickle and over-exaggerated Shakespeare creates a large amount of comedy based around her and the people she is involved with. The third and final part of the love triangle is Viola. She disguises herself as a man and serves Orsino which is comic first-off because of how she changes herself. The audience sees the change and therefore can compare the different reactions and feelings between the characters of Viola and Cesario. The audience would be used to this kind of dramatic behaviour, as a long tradition of plays at this time had these kind of comic complications. They would find it excessively funny seeing a beautiful woman able to disguise herself as a man yet no other characters able to notice. This is dramatic irony for the audience is let in on the secret but still can watch everyone not in the know create a jolly and comic atmosphere. Viola is sometimes witty and is involved in a range of comic situations most of them involved with the love complications in the play. The funniest single scene involving Viola has to be her comic duel with Sir Andrew which is set up by Sir Toby because both men are rivals for Olivia though of course neither does actually love her. There are several comic moments involving Viola where she gets herself caught up in situations that accentuate the comic nature of the play. Ironically Orsino fails to realise that his wonderful new servant is actually a woman despite the hinting conversations they have: QUOTE: ACT 1, SCENE 4 â€Å"Thy small pipe is as the maiden's organ† Here Orsino is speaking and commenting on Viola's unnatural high, shrill female voice yet he still does not catch on that she is actually a woman. This also has a slightly bawdy tone to it which was very popular at that time and would definitely have made the audience laugh. At the end of the scene the audience realises the romantic comedy is underway as Viola reveals her true feelings for Orsino: QUOTE: ACT X, SCENE X â€Å"I'll so my best to woo your lady (Aside) Yet a barful strife Whoe'er I woo myself would be his wife† The language here is romantic and wistful for Viola has to assist someone else, who she perceives not worthy of his love, to love Orsino although underneath she has true romantic feelings for him. Then Orsino sends Cesario to woo Olivia who falls in love with Viola! This is ironic and what starts off the love triangle. Shakespeare writes a speech for Viola to say to Olivia which is romantic, lyrical and paints vivid romantic pictures. It is also quite comical for the audience as they realise Olivia is in love with Viola. Viola can actually be quite witty and we can see this in her conversation with Maria: QUOTE: ACT 1, SCENE 5 â€Å"Some mollification for your giant Sweet lady† Viola is being rude and sarcastic to Maria referring to her as a â€Å"giant†, therefore commenting on her lack of height. This is a small indication of what the real Viola is like underneath her male costume. By the end of the Act, Viola realises that Olivia has fallen in love with her, creating yet more amusement among the audience. Comedy is also involved when Orsino fails to realise Viola's feelings despite some heavy hints: QUOTE: ACT 2, SCENE 4 â€Å"Of your completion†¦..About your years, my Lord† These are just two of the lines or hints that Viola says when she is in Orsino's company. Viola says a long speech about the sincerity of her love. Shakespeare really goes all-out on the imagery in this section which reflects how Viola is feeling. It is a powerful insight into her life and feelings which is then cast into a shadow by Orsino's weak and misunderstood response. QUOTE: ACT 2, SCENE 4 â€Å"But died thy sister of his love, my boy?† This is comic because even though Viola is her heart out for him, he is too bound up in his love affairs to notice. The duel is a very comic moment because Viola and Sir Andrew are both terrified of each other thanks to of the crafty ways of Sir Toby. He also urges them both on to the fight. Viola's aside line would make the audience laugh: QUOTE: ACT 3, SCENE 4 â€Å"Pray God defend me! A little thing would make me tell them how much I love of a man† This would be very comical for the audience for it reveals Viola's fright and nervousness towards the fight. Also she is supposed to be a man but everyone thinks that her slightly feeble attitude towards the fight is cowardly, and they would probably also doubt her masculinity therefore resulting it into and ironic and comic situation. In the final scene there is a mounting sense of comic confusion, particularly when Olivia thinks she has married Viola then Sebastian himself enters. You could see what confusion this would amount to on stage – everyone looking from Viola to Sebastian and back again. Shakespeare creates a huge amount of confusion with Viola because of her mistaken identity. Comically, everything turns out more or less well for her and Shakespeare successfully uses love to create comedy. Shakespeare creates characters primarily for comic effect in this play and each of them are in some way involved in the theme of love. Sir Andrew is one of these. He is a figure of fun, but can also be seen as a sad person. The audience feels sympathy for him while laughing at his antics. He has been tricked by Sir Toby into believing he is in love with Olivia, which shows how easily he can be manipulated. Therefore he is constructed as a comic character. Sir Toby tells him to do stupid things like dance wildly, his appearance is comical to the audience (long, lanky figure, rather dim expression) and most comical of all he repeats Sir Toby's words but misunderstands them: QUOTE: ACT 1, SCENE 3 â€Å"Good Mistress Accost I desire better acquaintance† He gets confused with what people say and this puts a very comical and stupid air about his character. Shakespeare always portrays him as foolish. But he also has speeches which make you feel slightly sorry for him: QUOTE: ACT 2, SCENE 5 â€Å"I knew t'was I for many do call me fool† Even Sir Andrew is aware that people call him a fool which is a funny, yet heartfelt feeling put across by Shakespeare. Another poignant yet comic line is: QUOTE: ACT 2, SCENE 3 â€Å"I was adored once too† A famous line for you can tell his sorrow at being unloved yet you can laugh at his pathetic view on love. The main comic scene for Sir Andrew is the duel in Act 3, Scene 4. Shakespeare uses Sir Andrew for a key element of plot development in Act 4after fighting. Sir Andrew is terrified at the prospect of fighting someone and proceeds to do cowardly actions and act pathetically. This would seem hilarious to the audience because of how Shakespeare portrays Sir Andrew leading up to the fight and during it. Sir Andrew is left unhappy and alone at the end for everyone is married and have a happy ending. He does not but still his false love and stupidity casts him to be an important part of the play. Malvolio is another character who Shakespeare uses to create comedy in relation to love. He is a Puritan, satirised by Shakespeare, and filled to the brim with self love. Malvolio is not a sincere Puritan because of the letter plot in the box tree scene. This cleverly arranged plot reveals what a hypocrite Malvolio is about lusting after Olivia, as he frowned upon Sir Toby and Maria before, but when it relates to him he doesn't care. This scene is the first comic element of Malvolio; the letter tricks him into smiling inappropriately and wearing awful clothes to impress Olivia, obviously all of this failing dismally in winning her affections, dramatically increasing the comedy of Malvolios character. In Act 3, Scene 4, the trick is revealed and Malvolio appears very ridiculous as he realises what a fool he has been. Sir Toby is very rude and cruel to him which makes him realise how unhappy his life is and how much disrespect people have for him. These elements do put a damper on the comic play but Malvolio does contribute with his comedy and love based antics. Although Shakespeare uses the theme of love primarily to create the comedy, the play also has much darker undertones. Feste is an ironic commentator on human nature and on the way in which people behave when they are in love. He has a very different perspective on love to the aristocratic figures in the play. Shakespeare ends the comedy with an epilogue from Feste, telling some very bitter thoughts about human nature, love and life. It ends with: QUOTE: ACT 5 SCENE 1 â€Å"But that's all one, our play is done And we'll strive to please you every day This is an acceptance of the sad conditions of life. A very unexpected end to a comedy. Feste is philosophical in all of his bitter songs and they all have poignant lines in them: QUOTE: ACT 2 SCENE 3 â€Å"Youth's a stuff will not endure This is a saying that youth, love and beauty will not last forever. Another sad line is: QUOTE: ACT 2 SCENE 4 â€Å"Sad true lover, never find my grave This tells us about how people hide away and die for love. Feste provides us with comedy about love but his main role in this play is to make the audience come back to their senses and realise the reality of life. Overall, this play has many ways to show how love and comedy combine to make a story of passion and heartbreak, love and unhappiness. Every character I have analysed here contributes towards the intense tone of the play, giving comedy and love to the audience. Yes, there are a few who reveal the darker undertones but these characters are essential in making the play as provoking, passionate and realistic that it is. QUOTE: ACT 5 SCENE 4 â€Å"A great while ago the world begun With hey, ho the wind and the rain But that's all one, our play is done, And we'll strive to please you every day†

COmpare and Contrast Essay Example | Topics and Well Written Essays - 1000 words

COmpare and Contrast - Essay Example ast four cases that include Lindile Mbotya v Minister of Police, Lamula et al v Minister of Police, Mhando v Attorney General and Another, and Gervas v Said Mohamed Ndeteleni. Lindile Mbotya v Minister of Police is a South African case that was decided in the High Court of South Africa, Eastern Cape Division of Port Elizabeth. Lindile Mbotya (Plaintiff) sued the Minister of Police (Defendant) for an alleged unlawful arrest and detention seeking damages in the region of 250,000 South African Rand. The plaintiff sued based on the fact that the arrest and detention was done without probable cause and that it was malicious. A member of the South African Police Services did the arrest in the employ of the defendant. The defendant refuted the allegations stating that the plaintiff was arrested and detained lawfully in accordance with the provisions of Section 40(1) (b) of the Criminal Procedure Act 51 of 1977 based on the arresting officer’s suspicion that the plaintiff had committed an offence. was within the confines of the law in exercising his discretion to arrest the plaintiff. The high court ruled in favor of the plaintiff based on aspects such as unlawful arrest and the circumstances that led to the deprivation of liberty, for instance improper motive, and harsh conduct of the arresting officers. The damages were awarded not to enrich the plaintiff but to offer solatium for the injury caused and also based on the plaintiff’s constitutional rights. Mhando v Attorney General and Another is a similar case to the above case in the sense that Mhando (Plaintiff) sued the Attorney General and Another (Defendant) for wrongful arrest, detention and prosecution by the police and sought damages for that. The case was also held in a High Court, but at Dare salaam in Tanzania. Unlike in the above case, the defendant here filed a written statement of defense and also followed it by a notice of preliminary objection that the suit was time barred. Unlike the first case,

What characteristics of the opposite gender do heterosexual males and Research Paper

What characteristics of the opposite gender do heterosexual males and females consider most important for sexual and marriage partners - Research Paper Example Many theories have been conceptualized based on the findings of the researches. Cross-cultural evidence proves that men tend to place more value on physical attractiveness while women seek earning potential and possession of resources as valuable traits of potential romantic partners. (Buss et al, 1990). Matlin (2008) explains this gender difference in trait preferences for a partner as based on an evolutionary psychology approach. According to this approach, people’s preferences have roots in evolution where men prefer young, attractive, healthy-looking women who are likely to pass on men’s genes to the next generation. On the other hand, women are drawn to men who are economically stable to ensure that their future children are well provided for (Matlin, 2008). This is consistent with the findings of Sakalli-Ugurlu (2003) where women were found to be more concerned about the future security of their future families than men are. Some have very high standards in their choices that nobody comes to par and they end up alone. Men and women hold different views on mate selection. This study aims to explore those differences, specifically on the traits they hold dear in prospective partners. ... These preference for so-called luxuries are held more by more affluent women in western cultures than women in poorer and more traditional cultures (Geary, Virgil and Byrd-Craven, 2004). Men consistently have admitted their primary preference for a partner’s youth and physical attractiveness as well as a mate’s chastity and sexual fidelity (Buss et al, 2001). This may be explained by the social structural theories. In most cultures, women view marriage as a ticket to material comfort so they search for potential husbands based on their economic potentials and resources. However, as cultures evolve, women have become more empowered in creating their own material abundance through their careers and as they gain economic equality with men, they now focus less on a potential mate’s resources and status and more on aforementioned relationship â€Å"luxuries† such as kindness, honesty and a sense of humor. This theory is backed up by Eagly & Wood (1999) who foun d that the structural features of societies may dictate mate preferences. For example, gender differences in preferences for a mate’s earning potential (men) and homemaking skills (women) may be strongly influenced by the economic status held by men and women in various societies. Following the tradition of large-scale studies of Buss (1990) and Eagly and Wood (1999), Lippa (2007) was likewise engaged in a more modern study involving an internet survey sponsored by BBC, wherein over 200,000 participants ranked their preferred traits in potential mates. The 23 trait choices were age, ambition, communication skills, dependability, domestic skills, face attractiveness, fitness, fondness for children, hands, health, honesty, humor, industriousness, intelligence,

Critical Analysis of the article provided Essay

Critical Analysis of the article provided - Essay Example These two approaches are the most applicable to the situation prevailing in the healthcare industry, as revealed by the author. The first ethical issue that is obvious in the article is the practice by pharmaceutical firms to entice doctors, with lavish fees and expense, into promoting their own drug as against the other drugs present for the same medical condition. This is achieved through the screen of "medical education." However, this education provided by paid doctors is entirely one sided and favors one company's drug, in comparison with other drugs used for the same medical condition. This practice may lead to the promotion and use of harmful drugs, as has happened several times in the past. The companies get the credibility of the doctors, who they pay for promotion, to promote even under-researched drugs which are known to cause harm to the users. Another ethical concern is that concerning the doctors, who agree to become drug representatives by forgetting the moral responsibility that comes with the medical profession, and suppressing their critical faculties in exchange for monetary compensation. The author was himself one of the doctors who became a drug representative for a particular drug - at first with a clear conscience and in the belief that he is helping to educate other doctors in the benefits of the drug in question, then with a guilty conscience, in withholding some negative information that he came across about the drug he promoted. The author says that the monetary and other benefits provided by the pharmaceutical firms are so large that it clouds the critical faculties of the doctors involved and makes them commit immoral behavior. Another concern brought forth is the unethical marketing strategy used by the pharmaceutical firms in order to make the most profits, even from under-researched or harmful drugs, before the harmful effects of the drugs become full public knowledge leading to a ban on such drugs. The profit motive leads them to commit further unethical acts by recruiting doctors to promote unscrupulous drugs by attracting them with large amounts of money and other benefits. They involve other institutions in this unethical behavior, such as the pharmacies, the American Medical Association, medical research firms and others. There are two basic approaches applicable in this situation. These approaches are used in analyzing the above concerns as below. Utilitarian Approach The Utilitarian theory of ethics is also a consequential or teleological theory. It believes in the "happiness principle" of ethics. "Utility" or "Greatest Happiness Principle" is the foundation of morality according to this theory. Actions are right in proportion to the happiness they promote and wrong in proportion to the pain they produce. So, any action that "promotes the greatest good to the greatest number" is morally and ethically correct according to this theory. There are two types of utilitarianism: Act utilitarianism and Rule utilitarianism. Act utilitarianism postulates that any action that promotes pleasure and an action that leads to the greatest pleasure or good to the greatest number of people, even if produces pain in a few, is basically morally correct. In this sense, the action of the author and other doctors, and the firms which are employing this particular marketing strategy for untested drugs are actually promoting the greatest good

Effect of Credit Crunch on Banking Sector in the UK Dissertation

Effect of Credit Crunch on Banking Sector in the UK - Dissertation Example 33 Figure 1.2: UK Banking Sector - Northern Rock Example 34 Figure 1.3: Business and Financial Services Growth Relative to Overall UK GDP Growth 35 Introduction The origin of the credit crunch was in the US in the year 2007. Several evidences proved that UK had also been affected due to the credit crunch (Ball & Et. Al., 2009). This report will analyse several aspects regarding the impacts of the credit crunch on the UK banking sector. General Statement The report will be dealing with the impacts of the credit crunch on the UK. It is a broad aspect hence the topic has been specified through restricting its focus only on the banking sector. Therefore, the prime research statement undertakes the analysis of the impact of credit crunch on the banking sector. Specific Statements In order to draw the ultimate findings of the research statements, the following specific statements will be evaluated ‘The Credit Crunch Explained’ ‘Credit Crunch — Banks Stop Lendingâ €™ ‘Banking Sector Timeline - From Credit Crunch to Present Day’ ‘Bankers Made 'Astonishing Mess'’ ‘UK Banking Regulation’ Requirement for Further Investigation The scope of study is huge as it encompasses the entire banking sector of the UK. Due to the constraint of time, it might not be possible to conduct an immense research. The study can be more concrete if increased number of real evidences could be included. Moreover, views of the managers or the finance managers of the banks in the UK can be taken into consideration to acquire the in-depth analysis of the topic. It is evident that the impact of credit crunch will not have similar implications to the big and small banks. Therefore, it can be stated that there is a further scope of investigating the differences of the impact in between the... The origin of the credit crunch was in the US in the year 2007. Several evidences proved that UK had also been affected due to the credit crunch. This report will analyse several aspects regarding the impacts of the credit crunch on the UK banking sector. The report will be dealing with the impacts of the credit crunch on the UK. It is a broad aspect hence the topic has been specified through restricting its focus only on the banking sector. Therefore, the prime research statement undertakes the analysis of the impact of credit crunch on the banking sector. The scope of study is huge as it encompasses the entire banking sector of the UK. Due to the constraint of time, it might not be possible to conduct an immense research. The study can be more concrete if increased number of real evidences could be included. Moreover, views of the managers or the finance managers of the banks in the UK can be taken into consideration to acquire the in-depth analysis of the topic. It is evident that the impact of credit crunch will not have similar implications to the big and small banks. Therefore, it can be stated that there is a further scope of investigating the differences of the impact in between the smaller and the bigger banks. The primary objective of the project is to determine the impact of the credit crunch in the banking sector of the UK. The concept of the credit crunch is related with the banking sector as it is based on the lending procedure. It indicates that basic concepts are needed to be conceptualised.

Reflective journal on management skills Article Example | Topics and Well Written Essays - 250 words - 3

Reflective journal on management skills - Article Example They were possibly held by unavoidable situations elsewhere. Secondly, I also thought that at least having made an effort to make it to class, they should have been allowed to go over the whole session before seeing the lecturer in camera to explain themselves. Nowadays as a manager I have come to understand that everything happens for a reason and that man is prone to error. What is important in whatever situation as a manager is to have a listening ear. It is important to allow subordinates to express themselves every time there is a crisis. This helps one to first have a grasp of the reasons behind whatever action has been taken by employees. Listening is a human virtue. It is central to managerial principles and has thus been central to my managerial style too. As per Hamilton (2010: Pg. 12 ) allowing two-way communication in organisation also helps forestall potential fallouts in future as one is able to come up with preventive mechanisms One thing I know for sure is that listening works miracles even in situations that seem so bad. Dialogue is the key for survival in the current competitive world. It is what all the business moguls have used across all ages. Dale Carnegie has advocated for it so have Henry ford and Andrew Carnegie among many others. So as manager I know I have discovered my tool and I can attest to the enormous impact this has had on my operations. I now shun highhandedness and value dialogue and respect for my subordinates. The commonwealth bank Australia is one of the largest and most versatile financial institutions in Australia. It has been in operation since 1912. It currently boosts of over 1000 branches plus an equally large distribution of ATMs. The bank offers a number of customer-tailored services and solutions key among tem being a number of affordable mortgage options and foreign funds transfer services. In of the programs aimed at encouraging diversity, the Commonwealth Bank Australia has set up a special intranet site

Law dis6 Essay Example | Topics and Well Written Essays - 250 words

Law dis6 - Essay Example It is these decisions that lead to success or failure of the business hence its ability to offset the loan. The organization structure is therefore an important factor to consider when deciding about the loan. A Pre-bureaucratic structure would be best as the business is medium-sized, requires limited specialization and the structures allows for quicker decisions which are imperative in a restaurant business. How realistic and achievable the business plan is, the borrowing history of the partners, the values of the collateral provided by the partners, the ability of the partners to offset the loan in the period provided should the business fail and the ability of the guarantors, if any, to offset the loan should the partners fail to do so. The nature of the business would make a considerable difference. In a franchise, there are less teething problems as the brand name is already established. The business model is already tested as the franchisor is successful. However on the considerations, one must appreciate that the decision making of the entrepreneurs is limited as the franchisor has a significant say in the operation of the business hence their growth may be limited to a certain level. The amount of fees to be paid to the franchisor as royalty as well as what the franchisee is to pay as training and advisory fees. The fees should not be too large as to hinder leave too little money for the daily operations of the business. Another factor to consider is the role in decision making of the franchisor which should not be too large and the duration of time that the franchise is supposed to take place. The creditor ought also to consider the business format- whether trade name franchising or business format franchising The Franchise Disclosure Document (FDD) which should be made available to the franchisee by the franchisor, two weeks before payment of any fees. The document contains

Gambling should be legalized Essay Example for Free

Gambling should be legalized Essay What is gambling? According to www. dictionary. com gambling is taking a risk in the hope of gaining an advantage or a benefit. Gambling has been around for centuries and has been dated way back to 1492. People have been gambling in America ever since America was found. There are numerous underground cards clubs and casinos all over the country and in major cities. People gamble on everything: sports evens, dice, and cards. Even though people gamble every day in the United States, it is still illegal. People do gamble everyday, so why is it not legal. Gambling should be legalized. There are tons of ways to gamble. Anybody can pretty much gamble or make a bet on anything. Some major games though are cards. People play games such as poker or blackjack. Also, betting on horses and dogs has been around quit a bit. The biggest form of gambling though is the lottery. Most of these games and events are already legal such has the track and the lottery, but why are regular games like poker and blackjack illegal? Why gamble? What good can come from gambling? Gambling can help our economy by keeping money here in out on state. Proponents say it keeps money in the state (Legalized Gambling 2). Another huge reason on why gambling should be legalized in the fact that it would draw a huge number of tourism to our state. It could also attract potential tourist to the area. Tourist with money to spend, not just in the casinos, but at local restaurants, hotels and shops (Legalized Gambling 2). This statement not only proves that it would bring tourist, but also that the local area would thrive as well because tourist would be spending money at other places such as hotels and restaurants. It would make the state richer. Why not gamble? According to the Legalized Gambling article in paragraph three some people say that gambling would increase crime, which in return would mean would need more police and more money spent on the police. Many feel that casinos will cause an increase in crime which means increased money spent on police (Legalized Gambling 3). Many say it would cause people to become addicted, and the homes and families of these people would be ruined. Some also believe that more Arkansans will develop gambling addictions which will lead to decay in the homes of these people and a general decay of family life in Arkansas (Legalized Gambling 3). Although this article in referring to Arkansas, the points are very relative to our state of Pennsylvania. If gambling were legalized, there would be more jobs. Jobs are very important especially now in our society. Hundreds of people do not have jobs. Jobs will be open for new casino card dealers for example. More transportation will be need for people to get to the casinos, and since there will be more people coming we will need transportation to other areas as well. Also, the local businesses like hotels and restaurants will be booming. As a result, more jobs will be needed to up keep these facilities. Not only will gambling supply more jobs, but also the local taxes will go down. All gambling winnings are taxable. When a person wins the World Series of Poker, the winnings are taxed. Also, the casinos will have to pay taxes, which will result in lower taxes such as school taxes and so forth. This will keep most of the money in the state as well. Over in Jersey, gambling was one of the main sources of income for the state back in 1857. Legal gambling has become a $10 billion industry in New York, New Jersey, and Connecticut, and the states, which are collecting $500 million a year in gambling revenues, are becoming more dependent on it to balance their budgets (Janson 1). Back in 1857 the economy was bad but gambling didnt even become stunned by the economy. Despite a clouded economy, wagering is up in all three states in each of the last three years in almost every form of legalized gambling (Janson 2). Back then it was making a killing. We can only imagine what it is bringing in now. Gambling is the sole reason to go to Las Vegas. Who would want to go a desert on vacation where temperatures can get into the hundreds? Gambling is the only thing that is going for Las Vegas. With out gambling no one would go, and look at how much money Las Vegas is bring in off of the tourists coming from all over the world, all because of gambling. So when people do gamble where does the money go? Where gambling in legal money gets divided up. 84% returned to the public, 15% for commission, and 1% breakage or surplus (Freeman 167). This shows that at the racetracks 84% go back to the people who are gambling, 15% goes to the brokers, and 1% is the breakage or surplus. That is how the money works in the racetracks. Each state deals with the money differently though. These percentages include the deductions for monies for both Track and State. Each state has laws specifying the division of this percentage between Track and State. Some states use a sliding scale. The higher the volume of business, the higher the percentage paid to the state (Freeman 166). As shown here the state taxes are included. Also, commission is used in all racetracks, and this provided jobs for many people. Another good reason why gambling should be legalized is because people can make a ton of money. If people would be smart about things they could maximizes their profits. These people are called pros. Professional poker players, like Johnny Moss, make all their money from playing cards. Gambling, if done right, can be easy pickings for people. Gambling is a calculated technique for making money (Thompson 27). Basically this is saying that if people are not stupid with their money that they will win. For example, if a person is playing Texas Holdem, a type of poker, then they should only play superior starting hands like Ace King, or Ace Ace. The reasoning behind this is because these starting hands have the best odds or chances of winning. By calculating odds people can beat the game. As mentioned before, gambling can be beat. A good way to make money is to play games where the people have control. Luck can only take a person so far. In casinos, most of the games, like the slot machines and roulette, have odds favoring the house or the casino. It is wise to stay away form these games. Instead, people should play poker or blackjack, where there is a little more skill involved. Luck can only take a person so far. According to Basil Nestor Luck has an influence, but skill has a more pronounced effect (13). This means in the long run, skill will produce more money. In card games there is a rake. The rake is a percentage of the winnings that goes to the house or casino. This is how the casino makes money of the game. For example, if a person just won a $100 pot in poker and the casino rakes ten percent, then that person would only get $90. Another nice thing about casinos is that the more a person gambles, the more they will get. Casinos always give out free things. For the high rollers, or people that spend a lot of time and a lot of money gambling, casinos usually give them free rooms and free tickets to shows. If a person is doing well, the casino may give them free food or free money to play with. There reason for this is to keep that player there. Statistically, the house or casino has better odds, meaning that the chances of a person winning are lower than even. So, eventually the casino will win. So, they try to keep that player there for as long as they can because they think the odds will catch up with them, but as mentioned before there are ways around that Gambling will help our state out tremendously. The state could use more jobs. Some taxes will go down. It just seems to be a no brainer. Why would we not legalize gambling? People say that it will ruin homes and lead to addiction. Well, for all those people that are concerned about that, dont gamble. No one will twist your arm to gamble. Gambling will bring so much to the state of Pennsylvania. All the tourist will need a place to stay. Thats where our local hotel and motels come in. The business will increase drastically. All the tourists will need a place to eat. Our restaurants will serve that purpose. With all this, all these businesses will need to up keep with everything. So, as a result, there will be more jobs available. The casinos will also cause taxes to go down. With all the money the state will be receiving from the casinos, they wont need to tax the people of the state. We already have the lottery and bingo and, these are forms of gambling. How come the lottery and bingo are exactable to our society and games like poker and blackjack are not? Is there that much of a difference? Gambling will do more good than bad.

Examining the history and background of intangible assets

Examining the history and background of intangible assets In the majority of 20th century, tangible assets is considered to be the main source of the commercial value, which include fixed asset such as buildings, land, manufacturing as well as financial assets such as bonds and their valuation. They were shown in the financial statement after valuation which is based on their cost and/or outstanding value. However, it is not mean that people do not recognize or pay any attention on intangible assets, though the specific value of intangible assets is not clear and recorded in the balance sheet. Even now, the priority companys evaluation on profitability and performance is still focus on those assets excluding intangible assets, for example, predicting return on investment, evaluating the value of fixed assets or equity. Because there are no recording value of intangible assets in the accounting book, they are not included in price relative measurements as well, such as price and book value ratio. But in the last 25 years of this century the awareness of creating value for the shareholders changed dramatically, people start to keep eyes on intangible assets and their valuation. Though people do not pay so much attention on the benefit from intangible assets, it is not mean that management of the company are not aware of the importance of such assets. It seems that most of successful businesses are due to successful corporate management of intangible assets such as brands, patents, technology and employees, but still lack of explicit valuation on such assets. Their values are summarized in the whole value of the assets, no any recording Independently. The owners of some major brands, such as Coca-Cola, Procter Gamble and Nestle did do some actives to protect their intangible assets and recognized the importance of their brand, but there were still not intentions on intangibles on the stock market to substitute for investors concerned about their assessment of the value develop from tangible assets. We will discuss some important cases below with evidences to support what I have said above. So this report will trace the history and background of intangible assets(Brands mainly) to look for the answer why intangible assets(Brands mainly) should be recorded Independently in financial report and analysis the benefits by using cases in practice. We will also discuss the manners of brands valuation and the benefits. Those two main contents will be discussed Independently and both are focus on theory and practice. The date and information are researched form internet and some related books. A table will be quoted with proper referencing(see reference). Introduction Structure of the report The main body of the report is consist of six chapters. In chapter one, introduction In chapter two, the theory on reporting brands In chapter three, Benefit from brands in practice In chapter four, The social value of the brand In chapter five, The theory on brand valuation manners In chapter six, the function of brand valuation in practice In chapter seven, conclusion In chapter one, it is about the theory of intangible assets under IAS 38 and FASB. Including, the definition of intangible assets by IAS 38, manner of recognition and measurement of intangibles, useful life of intangibles. It will illustrate gradually which types of intangibles should be recognized on the financial statement and how to valuate from the basic knowledge point. A brief introduction to the theory of three main valuation approaches (income approach, market approach and cost approach) will be involved. In chapter two, I will using three UK companies (Coca-Cola, Amazon and Sony Ericsson ) in different sectors as case studies to show the application of theory to practice and also get feedback by compare those company approach of intangible assets. Aiming to find out the what is the effect recording intangibles in the financial statements has on the interpretation of corporate financial performance. Get the manner how to maintain the asset value of companies brands. In chapter three, I will try to indicate several recommendations base on above expound. Assuming suggest the historical cost of intangible assets are disclosed on the corporate balance sheets while the fair value of intangible assets to be disclosed in financial statements to enable enterprises to reflect a more complete and realistic accounting information. Background to the topic Acquired the brand in the late 20th century, waves of 80 caused a great deal of goodwill accounting standards, the majority can not be a reasonable approach to handling the economy. Transactions led to the goodwill accounting in the debate on the balance sheet, including Nestle Rowntree, United Biscuits acquisition and divestitures Kebler purchase, the Metropolitan made Pillsbury and Danones acquisition of Nabisco European business. The so-called goodwill accounting practice does not involve the growing importance of intangible assets, with the company to make acquisitions they think the punishment is valueenhancing results. They either face the profit and loss account (income statement), or they had to write off the amount of reserves and the end of the acquisition of the asset base than ever before in many cases a large number of lower amortization expense. In countries such as Britain, France, Australia and New Zealand is still possible to recognize the acquisition of identifiable intangible brand value, and proposed the acquisition of these companies balance sheet. This helps solve the problem in good faith. Then, as the brand recognition of intangible assets used by a gray area of accounting, at least in the United Kingdom and France, so companies do not encourage including a balance sheet on the brand, but not unable to do so. In the mid-80s, Reckitt Colman, the British firm, to its Airwick brand, which recently acquired the balance sheet value; major metropolitan area and Smirnov did not brand it as part of the acquisition, with Heublein. At the same time, some newspaper groups to its acquisition of the rise of their balance sheet value. To the late 80s, on the balance sheet was the understanding of brand value within the company led to valuable financial assets, internally generated brands, similar recognition. 1988, Rank Hovis McDougall (RHM), the UKs leading food group, to play their brand of power heavily in the successful defense of Goodman Field Wattie (GFW) hostile takeover bid. RHMs defense strategy includes an exercise to demonstrate the value of RHMs brand portfolio. This is the first to establish an independent brand value, the value of this is possible, not only when they acquired the brand, and when they were created by the company itself. Successfully resisted the bid GFW, RHM in its 1988 financial accounts of the value of all internally generated intangible assets, and get the brand on the balance sheet. In 1989, the London Stock Exchange approved the concept of brand valuation allowed by the RHM shareholders approved the acquisition of intangible assets included in class test. This proved to be a major wave of consumer products companies to promote brand awareness to their balance sheets as intangible brand value. In the UK, including Cadbury, city (when it is 50 billion purchase of Pillsbury), Guinness, Li Bo (when it acquired the Hilton), and United Biscuits (including Smiths brand). Theory on reporting brands The FASB and other accounting bodies have stated that the financial reporting should provide information: that is useful to potential investors and creditors and other users in making rational investment, credit, and similar decisions; that helps current and potential investors, creditors, and other users in assessing the amounts, timing, and uncertainty of prospective cash receipts and net cash inflows to the enterprise; and that describes the economic resources of an enterprise, the claims to those resources, and the effect of transactions, events, and circumstances that change its resources, and claims to those resources (Nearon, 2003). Today, including Louis Vuitton, LOreal, Gucci, Prada and PPR many companies have recognized the acquisition of their balance sheet brand. Some companies already use the brand value and provide historical performance indicators as a financial brand value, as an investor relations tool, the balance sheet of their brand identity. In accounting standards, the United Kingdom, Australia and New Zealand have been allowed to acquired range of leading brands in the balance sheet, and provide information on how to deal with detailed guidelines of goodwill acquired the road. In 1999, the UK Accounting Standards Boards FRS 10 and 11 of the acquired goodwill in the balance sheet treatment. International Accounting Standards Board and International Accounting Standard 38, after the suit. In the spring of 2002, the Financial Accounting Standards Board Accounting Standards Board released 141 and 142, giving up centralized accounting and laying about recognition of acquired goodwill in the balance sheet of the detailed rules. There are indications that most of the accounting standards, including international and British Standards, will ultimately converted to the U.S. model. This is because most of the U.S. capital markets to raise capital or business in the United States must abide by international companies with account ing principles generally accepted in the United States (GAAP). All the main provisions of these accounting standards, the acquisition of goodwill needs to be used on the balance sheet and amortized in accordance with its service life. However, if the brand can claim unlimited life intangible assets not subject to amortization. Instead, companies need to be tested for impairment annually. If the value is higher than the initial valuation of the same or higher in the balance sheet value of assets remains unchanged. If the impairment of the value of low, need to write the assets down to a lower value. The recommended method of valuation is the discounted cash flow (DCF) and the market value approach. Valuation of the need for business unit (or subsidiary), generated revenue and profit performance. Once the acquisition accounting treatment of goodwill is to improve financial reporting for intangible assets such as brand an important step. It is still not enough, because only with goodwill recognized and reported in detail down to a minor footnote account. This has led to distortions, McDonalds brand and does not appear in the companys balance sheet, even though it is estimated to be about 70 percent of total stock market value (see Table 2.1), but the Burger King brand recognition of the balance sheet . There is still a quality brand is recognized in the balance sheet valuation. While some companies use a brand specific valuation methods, other less sophisticated valuation techniques, often doubt values. Financial report on the introduction of line is a long-term enterprise value of the real debate is likely to continue, but if there greater consistency, greater brand assessment approaches and the report of the brand values, corporate asset value will become more transparent mu ch. Benefit from Brands in practice The growing awareness of the value of intangible assets, with companies in the gap between book value and stock market valuations are increasing and the market value of these shares in the merger and acquisitions in the late 80s surge of premium paid. Now, it may be argued that, in general, mostly from the derived value of corporate intangible assets. Asset Management attention will undoubtedly greatly increased. The brand is a special kind of intangible assets, in many enterprises is the most important asset. This is because the economic impact of the brand. They affect the choice of customers, employees, investors and government agencies. In the world of abundant choices, this effect is a commercial success and the key to shareholder value creation. Even as a non-profit organizations have begun to embrace receive donations, sponsors and volunteers the key assets of the brand. Some brands also show a remarkable durability. The worlds most valuable brand, a Coca-Cola is more than 118 years, and the worlds most valuable brand, the majority of more than 60 years. Compared with surviving a string of different business owners, estimated to be 25 years or so.2 average life expectancy of many brands. A number of studies attempt to estimate the contribution of brands to shareholder value. In Interbrand and JP Morgan, a correlation (see Table 2.1) concluded that the average brands account for more than a third of shareholder value. Research shows that brand and create significant value both as a consumer or business brand or both. More than 70 percent of McDonalds shareholder value, brand accounts. Coca-Cola brand accounted for 51 percent of Coca-Cola stock market value. While this is true, the company has other drinks, such as Sprite and Fanta brands of large-scale combinations. Harvard University researchers and South Carolina3 and the Best Global Brands list in the select company Interbrand4 show that companies with strong brand is better than respect for the market in a number of indicators. It also shows that a portfolio from the worlds best brand, brand value was significantly higher than the weighted implementation of the MSCI World Index and the Morgan Stanley Capital International to focus on the S P 500 index better. Today, the key and leading enterprises in the management of intangible assets. For example, the Ford Motor Company to reduce investment in intangible assets, tangible benefit of its asset base. In the past few years, it has spent more than 12 billion U.S. dollars acquisition of Jaguar and other famous brands The social value of the brand The economic value of the brand, its owner is now widely accepted, but their social value is not very clear. Brand building to do any other value than all of them is the value that they create large social costs? 7, the popularity of global brands, so many brands around the world the focus of discontent. They believe that as a brand and exploiting workers in developing countries between the homogenization of culture and other issues directly linked. In addition, the brand has been accused of stifling competition, sully, to encourage monopoly and limit consumer choice of the capitalist system of the United States and Germany. On the contrary argument is that brands create substantial social as well as increasing competition as a result of the economic value of improving product performance and brand owners on the stress behavior of socially responsible way. The basis of race performance, and price, this is the nature of brand competition, and promote product development and improvement. And there is evidence that the promotion of companies than others in their class to do their own brands more often be more innovative in their respective categories. A European brand Association8 European PIMS study showed that fewer brands of products launched less significant investment in the development of small and less than rival brands of product advantages. Almost all of the non-branded half of the sample, compared to product development, nothing more than a brand less than a quarter samples. Though 26 percent of non-branded producers of new products have never made an important, a figure far below a collection of seven percent for the brand. Need to keep the brand relevant R D promotion, increased investment, leading to product improvement and development of the ongoing process. Brand owners are responsible for their quality and brand products and services, and their moral behavior. As the business from the brand value and sales and stock price, the potential costs of the act is far greater than any benefit directly immoral, than the monitoring costs and business ethics. A number of high profile brands have been accused of unethical behavior. Interestingly, these are already developing voluntary codes of conduct and internal control systems use some of the brand. This is not to say that these brands have been successful elimination of the unethical business practices, but at least show their will to address this issue. The gap between the companys more honest to admit that they have the moral behavior of the bridge, they will appear more credible. Nike, a number of suppliers in developing countries, the employment system of the criticism of a company, now post the results and factory workers www.nikebiz.com external audit and interview. The concerns of multinational companies is understandable, taking into account a 5% drop in sales of brand value may result in the loss of more than one billion U.S. dollars. It is in their economic interests of the clear moral. Theory on Brand Valuation Manners Some have always attached importance to the economic value of the degree of brand and other intangible assets, but it is only established in the late 80s the valuation methods may be fairly claim to understand and assess the specific value of the brand. Of: on a single brand values is now widely accepted. For those concerned with accounting, transfer pricing and licensing agreements, mergers and acquisitions valuebased management, brand valuation plays a key role in business today. Brand Valuation approach Unlike such as stocks, bonds, commodities and real estate assets, there is no brand value, will provide similar active market. Therefore, to reach an authoritative and effective way, to the growing number of brand evaluation model. Most fall into two categories: à ¢Ã¢â€š ¬Ã‚ ¢ research-based brand equity evaluation, and à ¢Ã¢â€š ¬Ã‚ ¢ purely financial-driven approach (1) Research-based approach There are numerous brand equity model, using consumer research to assess the relative performance of the brand. Not to the brands financial value, but they measure consumer behavior and attitudes, there is a brand of economic performance. Although these models are complex and complexity vary, they all tried to explain, explain and measure the impact of consumer behavior point of view. They include: 1, such as different levels of knowledge (foreign aid, finance, spiritual), knowledge, familiarity, relevance, specific image attributes, purchase consideration, preference, satisfaction, perceptions and recommendations of the wide range of measures. Some models add, such as market share and relative price behavior measures. Through different stages and the depth of the statistical model, which measures whether a rank order, to provide from the barrier, leading to a conscious choice and purchase, or relative of their overall consumer concepts, provide an overall score or measure brand equity. A combination of indicators of a change or expected to affect consumer behavior, which in turn would affect the financial value of the brand. However, these methods do not distinguish between, such as other influential factors, design and brand development. Therefore, they did not provide specific sales targets and between the financial performance of the brand a clear link. A strong brand can be the basis of these indicators, but still can not create a financial and shareholder value. Understanding, interpretation and measure of brand equity is essential to assess the brands financial value. After all, they are the key to consumer purchase behavior measures, given the success of the brand. However, unless they are an economic model, they are not sufficient to assess the economic value of the brand. (2) Financial-driven approach Cost-based approach is defined as all historical or replacement costs incurred, so that the current state of the brand needs a brand value of aggregation: in development costs, marketing costs, advertising and other communications costs combined, and so on. These methods fail because there is no direct correlation between financial investment and increase the brand value. Financial investment is the establishment of an important component of brand value, as long as it is targeted effectively. If not, it may not make a difference in beans. Investment demand significantly exceeded the advertising and promotion, including research and development, employee training, packaging and product design, retail design. Factors in brand valuation (1)Comparable. Another method is to reach a whole new thing on the basis of comparison value. However, comparability is difficult in the case of the brand, because, by definition, they should be differentiated, so are not comparable. In addition, in the same category of brand value creation can be very different, even though most other areas, such as the target groups basic business, advertising expenditures, price promotion and distribution channels are similar or identical. Comparable offers an interesting cross-examination, but, even if they can not rely solely on brand valuation. (2)Premium price. In the premium price method, the value of the net premiums of the present value of future price of a brand without the brand through a common command or equivalent. However, the main purpose of many brands is not necessarily to obtain higher prices, but to ensure the highest level of future demand. The value of these brands is to ensure the future generation, rather than the protection of a premium. This applies to a number of durable and non-durable consumer goods. This approach is flawed, because one of the few common brands can compare the premium price equivalents. Today, almost everything is brand, and in some cases can serve as a store brand as a brand producers charge the same or similar prices strong. Competition between brands and product price differentials can be indicators of its strength, but it will not be the only and most important value contribution to the basic operations of a brand. (3)Economic use. This is a driver of brand equity measures or means of financial measures to a complete lack of any financial or marketing component to provide a brand of integrity and strong economic valuation. Economic use method, which in 1988 developed a combination of brand equity and financial measures, and has become the most widely recognized and accepted brand valuation method. It has been used for over 3500 worldwide brand valuation. Economic use is based on the basic marketing and financial principles: à ¢Ã¢â€š ¬Ã‚ ¢ Marketing principles related to business functions, the implementation of the enterprise brand. First, the brand will help create customer demand. Customers can be individual consumers and businesses under the Consumer The nature of the business and purchase conditions. Customer demand into income through the purchase quantity, price and frequency. Second, brand loyalty and long-term security by buying customers. à ¢Ã¢â€š ¬Ã‚ ¢ related to the financial principles for the future expected net profit, widely used in the commercial concept of present value. The brands future earnings to determine, and then discounted to net present value of the discount rate, reflecting the risk of achieving these gains. Brands valuation steps In order to capture a complex brand value creation, take the following five steps: 1. Market segmentation. Customer brand choice, but the influence of different brands in the market determined the operation. Split brand and market access of non-overlapping homogeneous consumer groups, such as by product or service, sales channels, consumption patterns, purchasing maturity, geography, existing and new customers for the standard, and so on. The value of the brand in each segment and the segment of the valuation of the sum constitutes the total value of the brand. 2. Financial analysis. To identify and forecast revenue and generated by the brand established in step 1 for each different part of the intangible benefits. Intangible income is income minus operating costs, the brand, the use of the applicable tax rates and the cost of capital. This concept is similar to the concept of economic profit. 3. Needs analysis. Assess the role of the brand to play in the promotion of products and markets, the demand for business services, and determine what proportion of intangible earnings is measured as an indicator of the brand is called by the brands target role. This is done by first identifying the business needs of a variety of brand drivers, and then determine to what extent each driver is directly affected brands. The role of branding index represents the brand produced by the percentage of intangible earnings. Proceeds from the sale multiplied by the brand index of the role of intangible benefits. 4. Competitive benchmarking. Decided competitive advantage and disadvantage in brand specific brand derived discount rate, reflecting the expected future earnings of their risk profile (which is measured by an indicator known as the brand strength score). This includes a wide range of competitive benchmarking and market the brand, stable leadership, trends, support, geographic footprint and legal protective structure evaluation. 5. Brand value. Brand value is the net present value of brand earnings, discounted by the brand discount rate forecast (NPV). Net present value calculation includes both the forecast period and a later period, reflect the brands future ability to continue to generate income. A brand valuation of the market in a hypothetical example is shown in Table 2.2. This calculation is a useful model of brand value in various situations, such as: à ¢Ã¢â€š ¬Ã‚ ¢ Forecast market and investment strategies; à ¢Ã¢â€š ¬Ã‚ ¢ Identify and evaluate the communication budget; à ¢Ã¢â€š ¬Ã‚ ¢ calculate the return on investment on the brand; à ¢Ã¢â€š ¬Ã‚ ¢ assess the opportunities, lack of new or developing markets; and à ¢Ã¢â€š ¬Ã‚ ¢ tracking brand value management. The function of brand valuation in practice The application of brand valuation has been greatly expanded since its founding in 1988, it is the most strategic use of marketing and financial decisions. There are two main types of applications: à ¢Ã¢â€š ¬Ã‚ ¢ Strategic brand management, brand valuation focused on the domestic audience the tools and process management to improve the economic value of the brand. à ¢Ã¢â€š ¬Ã‚ ¢ financial transactions, the brand valuation of brand-related transactions with outside parties, all kinds of help. Strategic Brand Management Economic value of brand awareness, increase brand equity for the effective management of demand. In the pursuit of increasing shareholder value, companies are keen to establish the brand in line with other corporate assets, as well as management procedures throughout the company. Simply because the traditional research-based measurements proved to understand and manage the economic value of less than the brand, the company adopted a new management tool brand value. Brand valuation can help them build brand management valuebased system. As creating economic value of brand management and brand of all the key investment decisions. Diverse, including American Express, IBM, Samsung Electronics, Accenture, United States of America, British Petroleum, Duke Energy Corporation and Fujitsu road brand value, to help them re-focus on its branded business, and create a brand decision-making and investment on economic grounds. Many companies are making the brand value of the remuneration of senior marketing managers to create the part of the standard. Brand valuation of these companies find the following help: à ¢Ã¢â€š ¬Ã‚ ¢ the decision on business investment decisions. By making the brand assets and other tangible and intangible assets, different asset allocation of resources between the types, you can follow the same economic conditions and reasons, for example, capital allocation and return requirements. à ¢Ã¢â€š ¬Ã‚ ¢ Measuring the return on investment on the brand based on brand value in the investment rate of return, you can directly reach relative to other investments. Brand management and marketing service providers, measurable performance goals specifically related to the value of brand equity. à ¢Ã¢â€š ¬Ã‚ ¢ make decisions on brand investment. By priority according to brand, customer base, geographic markets, products or services, their distribution channels, etc., the brand can spread the cost of investment, influence and determine the cause maximum benefit. à ¢Ã¢â€š ¬Ã‚ ¢ decision making licensing subsidiary of the brand. A subsidiary of the license will be responsible for the management and use of the brand, and asset management to pay more stringent than the one to be free. à ¢Ã¢â€š ¬Ã‚ ¢ turn into a profit center, from a cost center, connecting brands and brand marketing ROI (from the subsidiarys brand use fee). The relation between investment, the returns from the brand to become transparent and easy to manage. Remuneration and career development of marketing staff can link to the development and brand value measurement. à ¢Ã¢â€š ¬Ã‚ ¢ allocation of marketing costs in the interests of the various business units from the brand equity. à ¢Ã¢â€š ¬Ã‚ ¢ Organization and optimization, for example, using different brands in the business (corporate, product and subsidiary brands) according to their contribution to the economic value. à ¢Ã¢â€š ¬Ã‚ ¢ assess the co-branded initiatives according to their economic benefits and risks to the companys brand value. à ¢Ã¢â€š ¬Ã‚ ¢ determine the appropriate brand after the merger by a clear economic reasons. à ¢Ã¢â€š ¬Ã‚ ¢ Manage the brand more successfully migrate to a different value of the brand as a better understanding of the results, therefore, nothing to lose or get, if the brand migration occurred. à ¢Ã¢â€š ¬Ã‚ ¢ The brand value of building brand value, providing focused, brand performance on the basis of the best understanding of the measures taken action, the driver scorecards. à ¢Ã¢â€š ¬Ã‚ ¢ managing a brand portfolio across multiple markets. Brand performance and brand investments to assess the basis of comparison with the same combination from brand to improve the overall return. à ¢Ã¢â€š ¬Ã‚ ¢ the economic value of brand communication as appropriate to create a capital market to support share prices and financial assistance. Financial transactions Brand valuation of financial applications include the following: à ¢Ã¢â€š ¬Ã‚ ¢ assessment of the subsidiary companys brand in the fair trade price. Brand royalty income tax return the way you can to the company headquarters. Brand may authorize the international subsidiaries in the United States, subsidiaries in different countries. à ¢Ã¢â€š ¬Ã‚ ¢ identify the brand of brand equity through brand licensing to third parties the best use of royalty rates. à ¢Ã¢â€š ¬Ã‚ ¢ Capital of the brand balance sheet under U.S. GAAP, international accounting standards and accounting standards in many countryspecific. Brand value is used for both initial and periodic valuation of a derivative of the value of impairment testing. à ¢Ã¢â€š ¬Ã‚ ¢ establish a brand in the mergers and acquisitions, asset prices and the value of clearly defined brand increasing trade. à ¢Ã¢â€š ¬Ã‚ ¢ determine the contribution of the brand, a joint venture to establish a joint venture distribution of profits, investment demand and stock. à ¢Ã¢â€š ¬Ã‚ ¢ Use the brand in debt, the economic exploitation of the brand rights for the mortgage securitization facilities. Conclusion As global competition is becoming increasingly severe, and many competitive advantages, such as technology and become more transient, the brands contribution to shareholder value will increase. The brand is a small number of assets that can provide long-term competitive advantages. <

Tender Reports in Construction

Tender Reports in Construction Tender report is an analysis or evaluation report that was prepared by a quantity surveyor about the tenders which submitted by the tenderers. This report was prepared to give suggestions to the public sector client, i.e. the government or the private sector employer about the best contractor for the project through evaluating the submitted tender documents in various aspects and to establish a price for the ensuing contract. After taking the recommendations from tender report and advice from the consultants into consideration, the client or employer will select his or her preferable choice of contractor. The throughout process and results of the tender evaluation are keep confidential. Upon the submission of tenders from the tenderers, a Tender Board or a Tender Assessment Panel will be formed. Tender Board or Tender Assessment Panel is a group of independent officers which included the quantity surveyor, to carry out a tender receipt process for competitive tenders, revise and confirm best and final offers. The tender board meets on a set date at a specified time to open and process tender documents submitted which they then forwarded to acquisition teams for commercial, technical and financial evaluation. The Tender Board will ensure that tenders are opened and processed in an open and transparent way. In addition, the tenders will be evaluated and recommendations will be made to the the client and the Tender Board. The approval and acceptance of a tender is made within the validity period of tender, which is normally 60 days as set in the tender document. To avoid the extension of one tender, tender should be evaluated and recommendation made within 30days from the date set in the handing over of tender. In case tender has to be extended due to unavoidable circumstances, agreement from the recommended tendering party should be obtained at least two weeks before the expiry of validity date. Generally, the tender evaluation process can be divided into two stages, i.e. preliminary stage evaluation and final stage evaluation. The preliminary stage of tender evaluation or also known as Preliminary Analysis, comprises of analysis on completeness of tender, analysis on compulsory documents and analysis on minimum capital required for the project, whereas the final stage of tender evaluation comprises of analyses on technical and financial capabilities of the tenderers. Besides that, arithmetical check will also be carried out on the tenders along the tender evaluation process. Before the tenders to be taken into consideration, the precondition of tender evaluation is the tender must be submitted before the tender closing date and time set out in the Letter of Invitation to Tender, i.e. usually before 12.00pm noon of the tender closing date. If the tender was submitted later than that, it is fall under the category of late tender. Late tender will not be accepted or of submitted, not opened for further consideration due to reasons of fairness and accountability. This is normally applied to public sector projects where the standards pertaining to transparency and accountability are especially high. However, the decision whether to open and consider such a tender is purely at the discretion of Tender Board and the private sector employer. Furthermore, tender amended by the tenderer on his or her own initiative whether in writing or other forms, without consent from the project client or employer will also be rejected for consideration. After that, the Quantity Surveyor will conduct the preliminary or first stage of tender evaluation process, i.e. Preliminary Analysis. It is an assessment system based on a few precondition set to determine whether the tenderers are qualified to be considered for the next stage evaluation. Purposes of this assessment system are to ensure that the tenderers to be considered are reasonable in term of tender price, complete of required documents and have sufficient capital to commence works. Firstly, the Quantity Surveyor will analyse the tenders whether the tenderers have offered the reasonable tender price. For government projects, if the number of tenderers is less than 10 persons, the department estimate or consultants estimate will be used for the comparison of tender prices. Usually, a variation price of 15% of department estimate or consultants estimate for tender prices offered by tenderers is assumed reasonable. If the number of tenderers is 10 persons or more than that, the Public Works Department will adopt the cut-off method to shortlist the tenderers for further evaluation. A cut-off price is established as the minimum tender price which is assumed feasible and reasonable to be accepted in accordance to market price through a statistical method. This is to avoid project implementation failure due to the contractors inability to undertake or complete the works caused by awarding contract to a tenderers with too low or unrealistic tender price. Therefore, usua lly only tenderers with tender price above or equal to the cut-off price will be considered and evaluated. In addition, completion period proposed must not exceed the range of estimated completion period. Then, the Quantity Surveyor will check the aspect of Completeness of Offer or Tender submitted by the tenderers. Some elements of Completeness of Tender which taken into consideration are the Form of Tender must be signed, the signature must be the authorized person, tender price must be stated in the Form of Tender, registration with Contractor Services Center (PKK) or Construction Industry Development Board(CIDB) must be valid and have stated the proposed completion period. Only tenders that complete and free from any deficiency or mistakes which may affect the current contract practices in legal aspects, are qualified to be considered. Tenderers which failed to do so, their tenders will be mentioned as INCOMPLETE to the client and stated the reasons. The following process is to check the aspect of Sufficiency of Compulsory Documents. All tenderers are obliged to submit all compulsory documents needed which stated in the Instructions to Tenderers for the tender evaluation purpose. The compulsory documents are the company auditors report, bank accounts monthly statement, banks report on company financial status and report on current project by resident architect or resident engineer or project manager. These documents are needed to prove whether the tenderers have sufficient financial capability, i.e. possess minimum sufficient capital to start the works. Without submitted the compulsory documents, especially for company financial documents, tender evaluation cannot be carried out and that tender is not qualify to be considered and can be rejected. Besides, an analysis on minimum capital required for the project will be conducted. The analysis will be done on the companys current assets, current liability, bank account statement, fixed deposit, bonds, credit facilities from bankers or suppliers, overdraft and bank loan. Hence, the company financial documents submitted by the tenderers will form a basis or proof for this evaluation aspect. For government projects, the minimum capital analysis is made through calculation of 3% of the Builder Works value based on department estimate. Along the tender evaluation process, the Quantity Surveyor will carry out the arithmetical checks on the tender documents. It comprises of correcting arithmetical errors in extensions, casting, etc and isolating palpable errors on pricing, but the tender amount remains unaltered. This measure is to correct mistakes for the purpose of future variation. A detailed examination of Bills of Quantities including comparison of prices will also be carried out on all tenders submitted. If the tenderers have fulfilled all the requirements in the preliminary stages evaluation, then the tenderers are considered or qualified for the final stages evaluation. The final stages evaluation is carried out based on a marking or scoring system which the marking are made objectively and quantitatively for each criterion assessed. Firstly, it will analyse the tenderers first aspect of technical capability, i.e. experience. Assessment is made based on the total value of same and similar nature of tendered works completed in the past five years. This is to get know that whether the tenderer is capable or have similar nature of works experiences for the tendered project. Next, it will analyse the tenderers second aspect of technical capability, i.e. financial. It is based on the total annum value of project predicted to be provided from the tenderers various sources of finance. It is important to prove that the tenderer has the financial capability to execute the project. Marks are given according to their financial capability. After this, it followed by the third aspect of tenderers technical capability assessment, i.e. the technical workers and possession of basic plant and machinery. Assessment is made based on their technical workers, such as architects, engineers, quantity surveyors, technician, and polytechnic and technical works assistants. The tenderers need to submit the KWSP statement and photocopies of Certificates of Workers Qualification to prove that they have qualified and enough number of technical workers to execute the tendered works. The lists of plant and machinery with supporting documents are also required to submit for the evaluation. Lastly, it will analyse the tenderers current works performance. This analysis is aimed to ensure that the tenderers do not have projek sakit, i.e. projects lagged behind 30% or more from the schedule of works or works programme. In addition, it is important to ensure that the tenderers do not have problems of employments determination by other client or employers. After the both preliminary and final stages of tender evaluation have completed, the results, justification, recommendation, and tenderers necessary detail information and facts will arrange and compiled together in a systematically way to form a tender report and submit to the client or employer. In conclusion, tender report is produced to assist the client or employer in decision making process in order to select most suitable and capable contractor to complete the project within specified time and quality.