20 Empowering Quotes About Positive Thinking

Do you feel that life has been unfair to you? Do you feel that people and situations have let you down? Dont hover on these bad thoughts. Instead, embrace the power of positive thinking.  Here are a few quotes that might pep you up. Nelson MandelaI learned that courage was not the absence of fear, but the triumph over it. The brave man is not he who does not feel afraid, but he who conquers that fear. Denis WaitleyWhen you are in the valley, keep your goal firmly in view and you will get the renewed energy to continue the climb. Abraham LincolnMost folks are about as happy as they make up their mind to be. Thomas EdisonMany of lifes failures are people who did not realize how close they were to success when they gave up. Dr. Joyce BrothersSuccess is a state of mind. If you want success, start thinking of yourself as a success. Mahatma GandhiA man is but the product of his thoughts. What he thinks, he becomes. Norman Vincent PealeChange your thoughts and you change your world. Dale CarnegieIf we think happy thoughts, we will be happy. If we think miserable thoughts, we will be miserable. HenleyI am the master of my fate, I am the captain of my soul. Henry FordWhether you think that you can, or that you cant, you are usually right. Winston ChurchillA pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty. Oprah WinfreyThink like a queen. A queen is not afraid to fail. Failure is another steppingstone to greatness. T. S. EliotKeep true, never be ashamed of doing right; decide on what you think is right and stick to it. Henri MatisseThere are always flowers for those who want to see them. Robert H. SchullerIt takes but one positive thought when given a chance to survive and thrive to overpower an entire army of negative thoughts. Bill MeyerEvery thought is a seed. If you plant crab apples, dont count on harvesting Golden Delicious. Ellen GlasgowNo life is so hard that you cant make it easier by the way you take it. Hubert HumphreyOh, my friend, its not what they take away from you that counts. Its what you do with what you have left. Susan LongacreReach for the stars, even if you have to stand on a cactus. Emory AustinSome days there wont be a song in your heart. Sing anyway.

Failure of Three Regulation in Financial Crisis Essay

Since the year 2008, many countries had been suffered from a financial crisis or Hamburger crisis, because of the mistaken policy, complex financial system etc. which cause a severe shock to the financial system globally. From this impact, the federal government of United State of America (USA) and other countries had injected a large fund for retrieving this situation significantly. Therefore, it can be explained that understanding the main causes of the financial issue can assist each country to clarify problems. The purpose of this essay is to elucidate regulatory failure in 3 major types: first, misguided intervention in the U.S. second, failure of financial risk management, next, the lack of transparency regulation in private and†¦show more content†¦Also, the US GDP increased nearly 25 percent during 2006 to 2007. During the lowest interest rate, people used credit to own a house, credit cards or car. The economic system was shifted to a high level as same as the inc reasing of household mortgage debt has rose to 75 percent during 5 years (2000-2005). It can be explained that US household received more chances to own a houses, housing market had been promoted considerably. It seems to be good news for global financial market, especially US government, because of the positive result which was responded by homebuyer and investor hastily. On the other hand, hiding some information such as a long term effect from interest rate, the ability to pay debt, and the fluctuation of housing market, most borrowers and investors could not know both sides information (It is called ‘Moral Hazard’). Banks and non-banks needed to gain more profit neither borrowers could not pay a debt nor had a financial problem , and US government only concerned about the increasing of economic system and GDP rate. Even though, banks would be suffered from the increasing number of poor-credit that were unable to pay a debt (sub-prime borrowers or NINJA (No Job, No income, assets), fortunately banks could sell a list of sub-prime borrowers to Fannie Mae Freddie Mac or non-banks. Unluckily, the housing demand could not stand at the peak for long time. A housing demand and aShow MoreRelatedThe Crisis Of The United States1305 Words   |  6 PagesAs a result of the crisis, there were many different impacts on both the U.S. and global economy and one of them being buyouts and acquisitions within the U.S. financial institutions. Just to name a few of the acquisitions and failures that occurred due to the crisis, Lehman Brothers, Merrill Lynch and Bear Stearns were among the largest investment banks. â€Å"Lehman Brothers declared bankruptcy, Bear Stearns was bought by JP Morgan Chase and Merrill Lynch was bought by Bank of America.† (Chang, 14)Read MoreThe Financial Crisis : Deregulation Or Over Regulation?1175 Words   |  5 PagesThe Financial Crisis: Deregulation or Over-regulation? As evidenced by the plethora of explanations concerning it, the 2007-08 financial crisis that originated in the United-States is highly complex. The literature presents various causes, most of which can be placed on either side of a debate between government intervention and laissez-faire of market mechanisms. 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There wasn’t a lot of information about corporate governance. After some big corporate failure that hit the economy, it has become obvious that corporate governance matters. After the collapse of Enron,Wordcom,..a new regulation was born (Sarbanes Oxley).The law was implement to increase transparency and to promote integrity and accuracy inside the companies. UnfortunatelyRead MoreFactors Responsible For The Global Financial Crisis1430 Words   |  6 Pagesfactors responsible for the global financial crisis in 2008-09 which started in US and later spread across the world. By now, a lot of studies have been done on the global financial crisis of 2008. We explain briefly the role of the financial engineering which leads to combination of various financial securities, the actual risk of which is not clearly assessed and hence leading to the financial crisis. There were also some serious lapses in regulation and failure of the rating agencies in assessingRead MoreFinancial Crisis During 2008 Hit The Economy, People Panicked1261 Words   |  6 PagesAssignment 2 When the financial crisis during 2008 hit the economy, people panicked. In an attempt to stabilize the market, the government took action. The various actions taken in 2008 by the Department of the Treasury and the Federal Reserve Bank, as well as the new regulations proposed and implemented by the Securities and Exchange Commission, were generated to reduce and mitigate the systemic risk created by the Money Market Mutual Funds. These actions and regulations, as well as the systemicRead MoreThe Financial Crisis Of 2007-20091490 Words   |  6 PagesThe financial crisis of 2007-2009 resulted from a variety of external factors and market incentives, in combination with the housing price bubble in the United States. When high levels of bank and consumer leverage appeared, rising consumption caused increasingly risky lending, shown in the laxity in the standard of securities screening and riskier mortgages. As a consequence, the high default rate of these risky subprime mortgages inc urred the burst of the housing bubble and increased defaultsRead MoreGovernment Intervention And Laissez Faire Of Market Mechanisms1369 Words   |  6 Pages2007-08 financial crisis that originated in the United-States is highly complex. The literature presents various causes, most of which can be placed on either side of a debate between government intervention and laissez-faire of market mechanisms. On one side, it is argued that financial actors are responsible for the crisis as a result of their use and distribution of complex and risky financial products, and their irresponsible lending. On the other side, the arguments centre on policy failures, orRead MoreThe Reasons For European Sovereign Debt Crisis1437 Words   |  6 PagesAccording to the analysis above, the euro crisis could be partly ascribed to previous financial crisis in 2008. After deeply investigation, the failure could have a lot of thing to do with government regulation and management. The reasons for European sovereign debt crisis could categorized into two main issue; income and solvency problem as analyze above. Hence, this part will examine the failure of both private and public sectors from the angle of accounting. With the accounting aspect, the conceptRead MoreIntroduction: The financial sector has been hit badly by the financial crisis in 2008. The1600 Words   |  7 PagesIntroduction: The financial sector has been hit badly by the financial crisis in 2008. The increased competition between banks induced executives to take excessive risk to maximize bank’s profit, as their performance compared to other competitors is measured by the revenues they achieve to financial institutions and its stock value (Kashyap, Rajan et al. 2008). Banks went into trouble especially after the expansion of mortgage finance and facilitating loans to homebuyers with the lowest possible

Internet Privacy Essay Thesis Example For Students

Internet Privacy Essay Thesis Internet Privacy: Is the Internet as safe as everyone says?As every generation comes they bring with them a new invention from cars to television to the telephone the basic existence of man, in my eyes, is to advance both technologically, thus making life better for us all and also scientifically. Man wants to know all we want to be able to answer all the questions out there as every day goes by we get closer and closer to answering some of our questions. Everyday new cures for diseases are found and also new diseases are discovered, new discoveries are made in various fields, at the same time however new problems are arising. Man in every era has depended on some form of tool to help him to his tasks whatever they may be, a tool to make things easier. This tool is technology; technology does not have to be the modern thoughts of computers. Technology is the science of technical processes in a wide, though related field of knowledge. That is the definition given by The New Lexicon Websters Dictionary of the English Language. So technology can be anything as long as it helps us advance. It can be anything like a plough to help a farmer, a television to help the media and the telephone to help us communicate. The latest technology of the 20th Century is the Internet and it has placed a great mark on our society. It is the new place to be where business can advance, people can interact worldwide at the click of a mouse and this has revolutionarily changed the world. In the world of the Internet there are millions of members worldwide and that means it is a very profitable arena. In an area where there is money there are criminals and that is where the modern criminals of the world are behind computer screens. They may be credible individuals in society and they could also be credible corporations and organizations that are finding a quick way to make money and by doing this they are breaking ethical rules of society (even though it is hard to determine the ethics of the internet) and one of these crimes is the violation of the privacy of others. I have logged on to the internet and have felt safe, like anyone should that logs on to the net, that I am the only one viewing my mail or cruising the net, I feel like I am the only one that knows where I have been and that no one is tracking me. After all the things I have just mentioned only happen in the movies, they are Enemy of the State type of things, and it could not possibly happen to you am I right? Wrong. By holding this thought one is including themselves in a large group of consumers, world-wide, who are unaware of the multitude of information they are placing on the World Wide Web, simply by using it as it was designed to be used. All it takes is a visit to any site to place personal information about yourself on the internet. (Buffalo University). The best way, at least for me, to understand the Internet is not to view it as a one way street but instead as a two-way road. The one way view of the internet is that it provides us with information and entertainment, this is what many people use the internet for and that is the one way view they maintain though it is not wrong there is more to it. That is where the two way view comes into effect while an individual is surfing the net the people that maintain the web sites are also getting information that information is on you. It is a two way street because you get what you want and they get what they want, which side gets the more information is very debatable, solely on the premise on how much you treasure your privacy. It is disturbing to know that one can be tracked all over the World Wide Web just from their mouse clicks. This may be happening to many of us, our browser alone gives as away simply. .u9a3342c5afe09f62494b9d0611b2ae42 , .u9a3342c5afe09f62494b9d0611b2ae42 .postImageUrl , .u9a3342c5afe09f62494b9d0611b2ae42 .centered-text-area { min-height: 80px; position: relative; } .u9a3342c5afe09f62494b9d0611b2ae42 , .u9a3342c5afe09f62494b9d0611b2ae42:hover , .u9a3342c5afe09f62494b9d0611b2ae42:visited , .u9a3342c5afe09f62494b9d0611b2ae42:active { border:0!important; } .u9a3342c5afe09f62494b9d0611b2ae42 .clearfix:after { content: ""; display: table; clear: both; } .u9a3342c5afe09f62494b9d0611b2ae42 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u9a3342c5afe09f62494b9d0611b2ae42:active , .u9a3342c5afe09f62494b9d0611b2ae42:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u9a3342c5afe09f62494b9d0611b2ae42 .centered-text-area { width: 100%; position: relative ; } .u9a3342c5afe09f62494b9d0611b2ae42 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u9a3342c5afe09f62494b9d0611b2ae42 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u9a3342c5afe09f62494b9d0611b2ae42 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u9a3342c5afe09f62494b9d0611b2ae42:hover .ctaButton { background-color: #34495E!important; } .u9a3342c5afe09f62494b9d0611b2ae42 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u9a3342c5afe09f62494b9d0611b2ae42 .u9a3342c5afe09f62494b9d0611b2ae42-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u9a3342c5afe09f62494b9d0611b2ae42:after { content: ""; display: block; clear: both; } READ: English Is the Only Foreign Language Worth Learnin? Essay Just from our browser someone who wants to can find out could probably find out which computer you are coming from, what software and hardware you are using, details of the link you clicked on, and possibly even your email address (junkbusters.com) This is a lot of information about us that we may not want out there. Our browser is giving all this information out through cookies. A cookie is a unique identifier that a web server places on your computer: a serial number for you personally that can be used to retrieve your records from their databases. Its usually a string of random looking letters long enough to be unique (www.junkbusters.com). This is a very bad thing that destroys the founding of privacy if you cannot surf the Internet without half the consumer-retailing world knowing about, that is a very horrible thought. When I view a particular page that is of interest to me and I want to some more information on the products they offer I usually fill an on-site registration form, along with me so do many users of the Internet. By providing the information to the company I am under the assumption that they will send the information I need to me and that they are under an ethical code to respect my privacy. Well in the world of the Internet, and in this day and age ethics might as well be a dream. The forms we fill online may ask for basic information like my name, address, phone number and email address and maybe my personal interests, however the sad part is that all this information is most likely being gathered for marketing purposes. It is often sold to other interested parties willing to buy my information along with those of hundreds of others, so that they may push their products upon them. There are companies emerging over the Internet that can get almost any piece of information on you that you hold dear to your self. The Internet has unleashed a new beast, a beast that has no name but that has no respect for privacy. If tomorrow morning the United States Postal Service announced that all mail had to be sent in a clear envelope there would be a huge ruckus. That would involve everyone from a custodian to the president of a major organization; this is because we all have something that is private to us that we do not want strangers to know about. What is very disturbing is when it comes to protecting your privacy, banks and brokerage firms tend to squirm. By law they must record Social Security number, the marker that can unlock the data in all too many other accounts (Forbes pg. 187). If your money is not safe, if one knows how much money you have in this society then you are at a disadvantage. In this society I feel every thing is measured by the contents of your bank account, to achieve the dream many work hours and hours upon end to make ends meet and to have all their labors exposed to the whole world can be a very painful thing. While researching this paper I came across an interesting article done by MSNBC it was about a man named Glen Roberts who lives in Oil City which is in northwestern Pennsylvania. Mr. Roberts had obtained through legal means, thanks to the Internet and to be more specific the electronic Congressional Record to obtain the social security numbers of prominent members of the United States military. He then displayed these numbers on his site to display to the world how insecure the Internet was. This is not some secret military document that someone hacked into, and these are not the Pentagon Papers, Roberts said. This is information that is put into public libraries all across the country with taxpayer dollars (www. .u0608a003ddccc58cfe24ea756358346c , .u0608a003ddccc58cfe24ea756358346c .postImageUrl , .u0608a003ddccc58cfe24ea756358346c .centered-text-area { min-height: 80px; position: relative; } .u0608a003ddccc58cfe24ea756358346c , .u0608a003ddccc58cfe24ea756358346c:hover , .u0608a003ddccc58cfe24ea756358346c:visited , .u0608a003ddccc58cfe24ea756358346c:active { border:0!important; } .u0608a003ddccc58cfe24ea756358346c .clearfix:after { content: ""; display: table; clear: both; } .u0608a003ddccc58cfe24ea756358346c { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u0608a003ddccc58cfe24ea756358346c:active , .u0608a003ddccc58cfe24ea756358346c:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u0608a003ddccc58cfe24ea756358346c .centered-text-area { width: 100%; position: relative ; } .u0608a003ddccc58cfe24ea756358346c .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u0608a003ddccc58cfe24ea756358346c .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u0608a003ddccc58cfe24ea756358346c .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u0608a003ddccc58cfe24ea756358346c:hover .ctaButton { background-color: #34495E!important; } .u0608a003ddccc58cfe24ea756358346c .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u0608a003ddccc58cfe24ea756358346c .u0608a003ddccc58cfe24ea756358346c-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u0608a003ddccc58cfe24ea756358346c:after { content: ""; display: block; clear: both; } READ: Why We Cant Wait By Martin Luther King Jr. Essaymsnbc.com). After reading the article on he MSNBC website I searched for Mr. Glen Roberts page and found it. From there I was able to discover the social security numbers of many prominent members in our society including. General Colin L. Powell whos social security number is 113-28-4024 and Bill Gates whos social security number is 539-60-5125. These were all available from his Internet address: http://www. glr.com/media After viewing the contents of this website I thought to my self if the numbers of prominent members of society are openly available to many then what would prevent the numbers of normal civilians from being available. Many experts agree that once you have the social security number of an individual you have the key to their whole life. No safeguards are being taken to adequately protected. The Internet in my opinion is a young domain and many are taking advantage of it by breaking strict moral and ethical values. To prove my point on how insecure the internet was and how the privacy of others were not being protected I took the liberty of finding out what information I could find on Mark Preut. He is my Debate coach and also American Government teacher, in one minute (I timed myself) I came up with was his address, phone number, map of the town he lived in. If I had looked on further I know I could have found more but then I would be contradicting my self on the matter of privacy. The Internet is a dangerous place we need to be careful. It is understandable that the founding fathers did not take into account the invention of the Internet let alone the computer. However they did believe in a sense of privacy that sense of privacy has not been applied by this government. To that matter it has not been applied to any other government which has control over events on the World Wide Web. It is a shame there is no little or no privacy in this new world created by man, the world known as cyberspace.

Response to Shakespeare Essay Example

Response to Shakespeare Essay I will take several points of the play into account, such as: individual characterisation; attitudes to life and love; and the fate, destiny, coincidence and the star-crossed side of events. By the end of this assignment, I hope I will have answered this question.To introduce the assignment, I am going to give my views on the play, before looking at each aspect of it in close detail:My first impression was that I thought there were several reasons as to why this is a good play, including the way it makes us think about the plot, and so in turn, how it makes us think about the real world outside it. For example, we see two young people (Romeo and Juliet) fall in love. This may make us impose questions about our own lives, such as where our own love lives are going, and if the reader is in a relationship, whether it has potential (perhaps like Romeo and Juliet could have had), or if it will never work out given foreseeable or unforeseeable circumstances (such as Romeo, with his suppose d fascination with Rosaline).The second impression I got from it was from Rosaline, another character in the play, as she helped us to get an insight into the life of Romeo. I personally doubt that he really did love Rosaline, and that he actually wanted to fantasise over a woman who he knew he cold never (realistically) have a relationship with. This could be vital for my assignment, because the attitudes to love between Romeo and Juliet could have killed them, in the sense that Romeo felt that he needed to immediately commit suicide when he saw the person he loved, dead.The final impression that I got was that the characters in the play seem as if they have their own different personalities. For example, Romeo is so easily led by his love life, but yet he never acts upon what he feels, by getting together with the woman Ay me, the sad hours seem long (i.i.160) in other words, he is depressed with his love and keeping it to himself, rather than telling the woman (Rosaline in this case). Juliet however is a lot different Conceit, more rich in matter than in words (ii.vi.30) in other words, she thinks that people would be better off if you acted upon your dreams, and made them into reality. This shows that these two characters had different attitudes to the same thing which shows that they had their own personalities.Overall, I am expecting this play to be quite fascinating and enjoyable. Romeo and Juliet is world renowned, and is generally recognised as being a brilliant play, with its author being one of the most famous writers in world history. On the offset, the plot and characters seem to be integrated together very well, to produce a well balanced and easy to understand play. Overall, I have high expectations of this play.To answer the question, I am firstly going to look at the fate, destiny, coincidence, and the star-crossed (Prologue.6) aspect of the play. I personally feel that fate, destiny, coincidence, and the star-crossed aspect, do play an i mportant part in the play.Here is a list of quotes regarding the fate and destiny side of events:* Give me my Romeo, and when I shall die,Take him and cut him out in little stars(iii.ii.20-21) Juliet here is saying that when she dies, she will take Romeo with him and they will be up with the stars together and eventually that did happen.* Then love devouring death(ii.vi.7) Romeo here is saying that their love will be departed because one, or both of them will die (like a vicar saying Till death us do part during a marriage service, meaning hopefully you wont part marriage until one of the couple die)* Too like the lightning, which doth cease to beEre one can say, it lightens(ii.ii.119-120) Here, Juliet is describing the love between her and Romeo as lightning, possibly because lightning will represent their powerful, and electric love. But also, lightning only lasts a few seconds, so maybe fate is telling us that their love wont last for very long.* That I must love a loathed enemy (i.v.140) She thinks fate has come upon her, because she thinks she must love him because it was meant to happen. She doesnt give herself the option to try and not love Romeo.I think coincidence and destiny had quite a lot to do with the plays events, although the characters themselves brought some of the events on. Coincidence, I feel had the largest part to play in the events that were to lead to the deaths, as far as the characters were concerned. For example, If Peter, the Capulets servant was to never ask Romeo I pray sir can you read? (i.i.57), Romeo would never have got invited to the Capulets party, the place where Romeo and Juliet were eventually going to meet for the first time.I think the star-crossed method also played an important role within the play. This is because the characters referred to the stars often, either in a good way, or in a bad way.From forth the fatal loins of these two foes,A pair of star-crossed lovers take their life (prologue.5-6)This quote in the prologue (the introduction) of the play basically tells us that the story was destined to take its course in the way it did, because the ill-fated couple were born lovers, destined to end up in disaster because thats what the stars would lead them to. I think this quote alone makes destiny a very important aspect of the play and question, because the prologue actually tells the story, and tells us what will happen in it. If you saw the prologue as Shakespeares truthful speech on what he wanted to happen, then destiny would have to be what killed Romeo and Juliet. However, if you saw the prologue as Shakespeares mystery element to the play (where it may or may not happen), then it may or may not be destinys fault that Romeo and Juliet died.I am now going to look at the conflict side of events. This is one of the main areas in which the dramatic mood and events was used to create the drama, by creating tension and mystery with the conflict. The most obvious way I can describe what I m ean by tension and mystery is the very first scene, involving the fiery character Tybalt. Basically, two members of the Capulet household, Sampson and Gregory, start taunting two members of the Montague family, Abraham and Balthasar. Basically, this brawl turns into a fight, which another character, Benvolio tries to stop. Eventually, Tybalt comes along, and as the fiery tempered character he is, starts to attack Benvolio. Tybalt laughs in the face of Benvolio, when he asks Tybalt to part these men with me (i.i.67), and immediately starts taunting Benvolio, saying, I hate hell, all Montagues, and thee (i.i.69). Eventually everyone started fighting. This shows that conflict was in the play from the startAlso, this makes all sorts of questions and thoughts run through the heads of people who havent read or seen the play. Who are these characters? What is their relationship with Romeo and Juliet like? How well do they know them or get on with them? Why did the Capulets and Montagues st art fighting? And the most important question of all what will this lead towards later in the play, as far as Romeo and Juliets deaths are concerned? We could also say this is the perfect start to Romeo and Juliet, as well as a very good conflict between the characters. This is because it makes us want to read on, to try and answer all these questions I have just raised. However, more importantly for us with this assignment, it gives a us an impressions as to what the fiery character Tybalt is like.Tybalt is one of the main characters, and in his own right partly responsible for Romeo and Juliets death. The story is very complicated, but basically, Tybalt kills Mercutio, Romeos close friend, and so Romeo kills Tybalt. This forces Prince Escalus to banish Romeo from Verona, because he had already warned the town not to fight any more as he was sick of the conflict between everyone. This caused all the following events, mainly Friar Lawrences plan for Romeo to return to Verona to col lect Juliet, so they could leave Verona together. But this plan went wrong, and as we know, it ended up unintentionally killing them instead. Because of this, we could blame Tybalt for their deaths. Although it seems Romeo was to blame for being banished, I see this as an attack of revenge, and not a regular fight. Benvolio thinks this tooBut by and by comes back to Romeo,Who had but newly entertained revenge (iii.i.173-174)In other words, Benvolio is saying that although it was a little harsh of Romeo to murder Tybalt (by entertaining revenge), it wasnt an act of murder, because Tybalt had done exactly the same thing as Romeo, only he murdered Romeos best friend.Im now going to talk about some other of the main characters who I think caused Romeo and Juliets deathFriar Lawrence: Although Friar Lawrence only directly influenced the deaths once; he does influence them quite a lot indirectly. He mainly acts upon what Romeo and Juliet are faced with, and tries to sort it out for them. For example, Friar Lawrence comes up with the plan for Juliet to pretend shes died of grief, because of Tybalts (her cousins) death.And, with wild looks, bid me devise some mean,To rid her from her second marriage (v.iii.239-240)Here, Friar Lawrence is basically explaining that Juliet came to him for help, so she could get out of marrying the man her parents wanted her to marry (Paris). This is why Friar Lawrence accidentally created all this chaos just to be a helping hand to her.The only direct effect he had could have been the worst one he could have made he married them. Although he wasnt sure a marriage between them would work, providing the fact that they were still teenagers, and also providing the fact that their families feuded, he still married them, because This alliance may so happy prove (ii.iii.91). Basically, he thought that if he did marry them, he would bring the two families together To turn your households rancour to pure love (ii.iii.92). I thought this was sli ghtly optimistic, but I personally think that if Romeo and Juliet want to be married, then thats all that counts, not what their families would think to it.Prince Escalus: The prince only caused one main event, but it turned out to be fatal. Im not entirely sure it would have changed things for the better if he had punished Romeo differently for causing Tybalts death, but never-the-less, it couldnt have turned out as worse as it with his punishment as banishment! Prince Escalus gave the wrong sentence to Romeo, by banishing him, as he said only two or three days before then that he would execute anyone who would fight again in VeronaIf you ever disturb our streets again,Your lives shall suffer the forfeit of the peace. (i.i.95-96)Basically, if anyone fights in the street again, then his or her life will suffer badly, because if they arent banishment, then they will get a death sentence. When he caught Romeo and Tybalt fighting, he decided to banish Romeo -Let Romeo hence in haste,El se, when hes found, that hour will be his last (iii.i.197-198)In other words, if hes ever seen in Verona again, he shall be executed. I cant help but think that if Tybalt hadnt caused that fight in the very first scene, Prince Escalus would have overlooked what happened, as he always had done before. This would mean Friar Lawrence wouldnt have come up with his ingenious plan, and perhaps things would have turned out for the better.The families (the Montagues and Capulets): I think that the families are to blame for everything! Capulet and Lady Capulet try persuading Juliet to marry someone she doesnt want to marry, even after her cousin (Tybalt) had just died! In the script, this doesnt seen so special, but if we put it into perspective, it will seem a lot different. If a 14-year-old girl today was suddenly told she had to marry someone, without even knowing about it until a few days before the ceremony, I dont think it would be well received by the girl, or by the general public. T he most overwhelming thing I saw was in the third act, just after Romeo had murdered Tybalt, whereby Lady Capulet, Tybalts relative, was bad-mouthing the Montagues instead of mourning Tybalts death!He is a kinsman to the Montague;Affection makes him false, he speaks not true (iii.i.179-180) (Referring to Tybalts death)This is really bad, because she is correctly blaming Romeo, but for the wrong reason. By this, I mean that no matter what Romeo would do, he would always lie and in this case, it would be his fault no matter what he had done! This seems as if she didnt care about her relatives death, and was more concerned about getting the Montague family into more trouble! Overall, this shows that the families cared more about feuding, than their childrens lives, so perhaps they could be to blame for that reason.Peter (a servant): The early scene with Peter was the best example of coincidence in the play. I believe coincidence ruins a play, because it wouldnt usually happen in real l ife, and therefore appears to be a flaw in the plot to me. I think this wasnt so much bad coincidence, but Shakespeare saw the flaw he would have, bringing the Capulet and Montague families together at a party, so he had to do something to get them to meet which would seem like no easy task. Basically, Peter couldnt read, but yet he had to post invitations to the people who the Capulet family invited. When he asks Romeo to read the letters, he responds by asking Romeo if he would go to the party to drink a glass or two of wine be not of the house of Montagues, I pray you come and crush a cup of wine (i.ii.81-83). This is quite well thought out in my opinion, because it seems like the situation is feasible, so perhaps using coincidence in this scene wasnt such a bad idea, and didnt seem like a flaw in the plot to me.Getting back to the point If Peter could have been able to read the letters, then Romeo would probably not have been invited to the Capulet party, and would probably no t met Juliet. This is why I think Peter could have caused their deaths. This concludes my character analysis.One final aspect I am going to look at is the time Shakespeare was writing. This can be explained easily. Basically, Shakespeares 16th century audiences would have thought differently to us as their beliefs were based upon a lack of scientific knowledge, and their day-to-day lives were affected by their lack of technology. For example, It was typical of feuds to run in families (i.e. with the Capulets and Montagues); it was typical of huge sword fights to occur in the streets (i.e. The Capulets and Montagues in a huge brawl in the first act); and finally, where we see popular holiday resorts such as the Caribbean as being exotic, Shakespeares audiences thought that Verona in Italy was an exotic setting. Basically, Shakespeares audiences thought incredibly different back then, and although it may explain some of the events that have happened, such as the fighting and feuding, it doesnt completely explain why Romeo and Juliet had to die in the play.To conclude, I will put all this evidence together and try to form a clear explanation, as to what exactly killed Romeo and Juliet. I think that destiny, coincidence and the star-crossed theme is concerned, could have killed Romeo and Juliet it all depends on how you look at it. If you took the fate idea in the Prologue (where it tells you of their deaths, as I explained earlier) seriously, then it would definitely be fates fault.As far as the characters are concerned, I think that almost every character has been integrated together in a particular way; to all somehow kill Romeo and Juliet. I dont think there is one (main) character in the play that didnt do something or another, to either directly or indirectly contribute to their deaths in some way.Conflict played a reasonably large part in their deaths. The constant fighting in the streets made Prince Escalus banish anyone who was to fight (i.e. Romeo when he killed Tybalt). The conflict then though was due to the family feuds, as the fights were mainly between the Capulets and Montagues. It is hard to say, but I dont think this caused their deaths, simply because they werent fought because of Romeo and Juliet.Overall, I couldnt say who or what killed Romeo and Juliet and be 100% sure of it, but I personally believe it was destiny. This reason may not seem justified as far as the actual play was concerned, but in the prologue, it tells of their deaths this was a really important part, if not the most important part of the playFrom forth the fatal loins of these two foes,A pair of star-crossed lovers take their life (prologue.5-6)Basically, we knew all along that they would die during the play, so we couldnt change what would happen to them it was destiny. Therefore, to answer the question, I dont think that the deaths of Romeo and Juliet could have been avoided. Response to Shakespeare Essay Example Response to Shakespeare Essay It is undoubtable that the play of King Lear is predominately of evil, which is ultimately overcome by the forces of good. There are many variations of evil depicted in this play among them are greed, violence, hatred, madness, betrayal, avarice and envy. The most prominent form of evil, and one of the earliest in the play, is greed. Gonerill, the oldest daughter, introduces this firstly after Lear stated that due to old age he was worn out and wanted to leave the affairs of his kingdom to younger strengths so that he might have time to prepare for death. To do this he divided his kingdom into three, and that each third would be a dowry, one for each of his three daughters, he then asks Gonerill how much she loves him. Gonerill, realising that because of Lears infirmity in old age, she would be well rewarded on giving the right answer, replies saying that she loves her father more than she can say and more than anything else including her own freedom: We will write a custom essay sample on Response to Shakespeare specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Response to Shakespeare specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Response to Shakespeare specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Dearer than eyesight, space, and liberty. (1.1.56) This answer is greatly exaggerated especially as she stated that she loves Lear more than life itself: No less than life (1.1.58) In her greed Gonerill would say anything to get what she wanted, which was as much as possible therefore she covered the lack of love with extravagant words. Lear accepting this answer as a true declaration of her love for him rewarded Gonerills greed with one third of his kingdom. On asking his second daughter, Regan, Lear is told that she is the same as her sister and so worth the same only that Gonerills answer came short of the love that she has for her father: I am made of that self mettle as my sister And price me at her worth. In my true heart I find she names the very deed of love; Only she comes too short, (1.1.69/72) Knowing that she would also get a third of the kingdom like her sister she declared that she hates all joys compared to the pleasure that she has in loving her father: That I profess Myself an enemy to all other joys (1.1.72/73) On hearing this from Regan, Lear is more than pleased and rewards Regans greed also, with a third of his kingdom equal to the third that he gave to Gonerill. Edmund the bastard son of Gloucester introduces another instance of greed in the play. Edmund was both greedy and envious of his older, legitimate brother, Edgar. Edmunds envy was due to the fact that his older brother was the legitimate son of Gloucester and therefore entitled to inherit the whole of Gloucesters estate upon his fathers death, while he would inherit nothing, thus the greed. Edmund would do anything to inherit the wealth including betray his own brother: Well then, Legitimate Edgar, I must have your land. Our fathers love is to the bastard Edmund Cordelia in fear of appearing greedy in the way her sisters did stated that she loved her father according to her duty as a daughter and no more: I love your majesty According to my bond, no more nor less. (1.1.91/93) You have begot me, bred me, loved me. I return those duties as are right fit, (1.1.96/97) This proclamation of Cordelias introduces two more evils into the play, the madness that Lear displays being one of them. This madness made him unable to distinguish that Gonerill and Regan were not speaking the truth about their profound love for him and that Cordelia loved him the most of all. Therefore when Cordelia spoke the truth about her love and said that she did not love him above all else, Lear became enraged and subsequently disowned his most favoured daughter, sharing the last third of his kingdom, which would have been her dowry, between Gonerill and Regan: Here I disclaim all my paternal care, Propinquity and property of blood, And as a stranger to my heart and me Hold thee from this forever. (1.1.113/116) With my two daughters dowers digest the third. Let pride, which she calls plainness, marry her. (1.1.128/129) He also presented the Duke of Albany and the Duke of Cornwall with a `coronet` between them along with the power that it retained: Beloved sons, be yours; which to confirm, This coronet between you. (1.1.138/139) Lears madness is also apparent when Kent, Lears most loyal and trusted friend, tried to intervene and spoke up for Cordelia saying quite literally that Lear was mad and needed saving from himself and that Gonerill and Regan had empty hearts and did not love their father like they claimed. Be Kent unmannerly When Lear is mad. What wouldst thou do, old man? (1.1.145/146) Thy youngest daughter does not love thee least, Nor are those empty-hearted whose low sounds Reverb no hollowness. (1.1.152/154) Lears anger grew and he turned on Kent showing us yet another evil, violence, threatening Kents life if he said more: Kent, on thy life, no more! (1.1.155) Continuing Kent explains that Lears threat means nothing because he would gladly give his life for that of his king and that he is only acting to ensure the kings own safety: My life I never held but as a pawn To wage against thine enemies; nor fear to lose it, Thy safety being motive. (1.1.156/158) Enraged all the more Lear chooses to `reward` Kents audacity with banishment from the kingdom allowing him five days to prepare to leave, but, if he remained in the kingdom on the sixth day he would be killed: Take thy reward. Five days we do allot thee for provision To shield thee from disasters of the world, And on the sixth to turn thy hated back Upon our kingdom. If on the tenth day following Thy banished trunk be found in our dominions The moment is thy death. (1.1.172/178) Shakespeare uses various techniques to capture the attention of his Elizabethan Audience and to keep them entertained, one of these is the expressive and imaginative language that he used especially in some of Lears speeches. He uses a very powerful speech when Lear realises that Gonerill has deceived him and does not truly love him: Hear, nature, hear! Dear goddess, Hear! Suspend thy purpose if thou didst intend To make this creature fruitful. Into her womb convey sterility, Dry up her organs of increase, And from her derogate body never spring A babe to honour her. If she must teem, Create her child of spleen, (1.4.272/278) Shakespeare uses repetition: Hear, nature, hear! Dear goddess, hear! To get the audiences attention, this technique is used throughout the play, most often when Lear is angered and trying to make something known, Lears speeches were among the most powerful and Shakespeare would have wanted their full attention during this time in the play. Another of Lears speeches used by Shakespeare depicts, well, the constant referral to the planets and gods by all of the characters in the play: For by the sacred radiance of the sun, The mysteries of Hecat and the night, By all the operation of the orbs From who we do exist, and cease to be, (1.1.109/112) This constant referral is another of the techniques used by Shakespeare to capture the attention of his audience. The Elizabethans would have had a general interest in the stars and planets as the telescope had been invented in the early 17th century and therefore it was now possible for them to be seen properly for the first time. Edmund also brings astronomy and astrology together during one of his speeches: Treachers by spherical predominance, drunkards, liars, And adulterers by an enforced obedience of planetary Influence. (1.2.123/125) My father compounded with my mother under the Dragons tail, and my nativity was under Ursa Major, (1.2.128/129) Shakespeare also used another topic of general interest to the Elizabethans; he makes a referral to disease. This was because during the Elizabethan era the bubonic plague was rife and as a result the playhouses often had to be shut down in order to stop the spread of the disease when someone with the plague had been there: Kill thy physician and thy fee bestow Upon the foul disease. (1.1.163/164) Among the various evils illustrated in the play of King Lear I believe that greed is not only the most prominent but also the most important to the complete work. Without the evil of greed Lear would never have expressed such anger and hatred at his daughters, Cordelia would never have been disinherited and finally killed and Kent, Lears most faithful friend would never have been banished. Thus many of the other evils in the play were introduced as a result of the greed, Lears madness also played an important part in this as his infirmity caused him to be unable to notice the truth about his daughters feelings for him. In addition to this, the language that was used by Shakespeare brought Lears speeches to life and to memade them all the more powerful.

10 Things I Hate About You Film Review Example

10 Things I Hate About You Film Review Example 10 Things I Hate About You Film Review – Coursework Example Shakespeare Meets Modern Day High School 10 Things I hate about you. Director:   Gil Junger Karen McCullah Lutz,  Kirsten Smith, Stars: HeathLedger,  Julia Stiles  and  Joseph Gordon-LevittGood acting performances, mildly witty dialogues and a Shakespearean adaption ( Taming of the Shrew) make this 1999 teen oriented movie â€Å"10 Things I hate About You† and interesting watch. Although I am not much into teen movies and stumbled on this one due to entirely unforeseen circumstances, I was surprised to see a non-irritating teen movie.Kat (Julia Stiles future agent Parson in Bourne Identity) and Bianca (Larisa Oleynik) are sisters but despite their blood relation, their personalities are exact polar opposites. Bianca, the younger is one of those cheesy teenage girls in the college that are just too popular for their own good. On the other hand Kat (as in Shakespeare’s Kate), the older one, is one of those tomboyish girls in the college who are Emo enough to hat e everything but still have a soft yet unseen desire in their hearts." Kat and Biancas father, Walter (standup comedian Larry Miller), has a rule that in order to for Bianca to date someone her older sister Kat has to get a date first. As night of the prom party approaches Bianca finds herself being the object of affection of two boys, Joey Donner (Andrew Keegan) and a typically Hollywood style shy and kind guy ( a species that don’t really exist in real life) Cameron James (Joseph Gordon-Levitt – future Arthur in Inception!). As an unwilling duo (e.g. Pak and USA), Joey and Cameron select a prospective candidate for Kat: Patrick Verona (Heath Ledger future Joker in The Dark Knight), the local bad boy. They conjecture that (however unlikely it might seem) that of they could pay Patrick to hook up with Kat then one of them can then date Bianca. However, the following events turn out to be entertaining, as Patrick, like Shakespeare’s Petruchio, has to take extra o rdinary measures to tame the feminist and quick-tempered Kat.The unfolding plot then provides us with witty dialogues and we observe that the movie is almost loaded with double entendres and many dialogues have double meaning. Although the script language is a little weak (usual for a teen movie), Kat’s and Patrick’s acting as well as the accompanying music is a treat to watch and that is what makes it stand out among the flood of sub standard teen movies in the market.Director Gil Junger has done a decent job in directing the movie and has come up with a bright idea of adapting the Taming of The Shrew in a modern setting. The movie is rated PG 13 for sexuality-laced words, crude dialogue and alcohol fueled scenes.Baffa, Eric. IMDB.Com. 1999. .

economic growth essays

economic growth essays Economic growth refers to the rate of increase in the total production of goods and services within an economy. Economic growth increases the productivity capacity of an economy, thereby allowing more wants to be satisfied. A growing economy increases employment opportunities, stimulates business enterprise and innovation. A sustained economic growth is fundamental to any nation wishing to raise its standard of living and provide a greater well being for all. Gross domestic product (GDP) is the monetary value of all final goods and services produced in Australia over a specific period of time, usually a year. It is the total value of production within the economy. The total value of production is the total value of the final goods or services less the cost of intermediate goods purchased. GDP at market prices (nominal GDP) measures the value of total production at the present price level. That is, GDP at market prices measures both the total physical volume of goods and services produced and the prices at which these goods and services are sold. GDP at market prices has considerable usefulness when measuring the growth rates and relative importance of different industries or sectors within the economy. The method for measuring GDP at market prices is implied by the following formula; [(current year quantity) x (Current year price)]. However GDP at constant prices is the most common method of measuring economic growth. GDP at constant prices excludes the effect of price variations and allows for the measurement or comparison of real or actual production levels. Because of this, GDP at constant prices is usually referred to as real GDP. Real GDP is measured by the following formula; [(current year quantity) x (based year price)]. A more reliable measure of economic growth is real GDP per capita; this measurement takes into account both the total production of the nation and the total population. Real GDP per capita measures the ...

Aspects of sustainable transport mode. ( buses in scotland ) Thesis

Aspects of sustainable transport mode. ( buses in scotland ) - Thesis Example In any case, the success of such initiatives requires the active participation of governments. The above issue has been made clear in the case of Scotland where the private bus operators have introduced a series of schemes aiming to align their firms’ activities with the principles of sustainability. The success of this effort is examined in this study; the support of the Scottish Government towards these efforts seems to be important; it should be updated, though, in order to meet the needs of these firms in the terms of sustainability. It is proved that private bus operators across Scotland have made significant efforts in order to promote sustainability their firm’s daily activities; however, often the principles of sustainability are not fully applied; measures need to be taken in order for sustainability to become an actual part of bus industry in Scotland. Sustainability is a concept widely developed internationally; the increase of this concept’s power is mainly related to the deterioration of environmental conditions globally; sustainability can help to the limitation of the effects of human activities on the environment. However, the above target can be achieved only if the principles and the mission of sustainability are clearly understood by the initiators of the relevant projects. The needs of sustainability can be identified in the definition of Hakkinen (1997, 138): ‘the ecological criteria for sustainable development are the preservation of biodiversity and adaption of human activities to the natural resources and tolerance of nature’. The aspects of sustainability explored in this paper are related with a specific industry, the bus industry; therefore, it is in this context that sustainable policies in Scotland will be evaluated and criticized. Bus is an essential means of transport in Scotland; because of its importance for the

Curbing the Costs of College Textbooks Essay Example | Topics and Well Written Essays - 1500 words

Curbing the Costs of College Textbooks - Essay Example The federal government has even involved itself in the issue by passing a recent law that forces publishers to tell professors how much-required texts will cost their students, and colleges must inform students during class registration what books they will need to purchase for each course. The best and most fair solution for everyone when it comes to textbook pricing is to move away from physical printed and bound books to electronic and downloadable texts. Publishers have every right to make money, but students should have the ability to save themselves money wherever possible while working towards their diplomas. Problems with the current system Students today spend a lot of time and effort when it comes to buying textbooks. Once their class booklists are in hand, the students have a few options as to where to buy their books. There’s the school bookstore, which will usually carry new and used copies of required books, and will buy back some books from previous purchases. S tudents may also look for their books online, at sites like Amazon.com or eFollet.com, which often offer a larger selection of used copies than the campus bookstore and often at a lower price (Bernard B5). Yet there are a lot of roadblocks when it comes to finding a cheaper, used copy of a textbook. According to a national survey conducted by the Public Interest Research Groups (PIRG) of required college texts, the books are revised and issued as new editions â€Å"every three to four years regardless of changes to the subject† (Allen 6). Why is this a problem? Because the older editions are then considered outdated and are made unavailable to students by the publisher. The older editions cannot be traded in for cash or credit at the student bookstore or sold online at Amazon.com or eFollet.com. Students enrolling in classes where the new editions are required must buy the books new since used copies are not available. Students also complain that many times they are only requ ired by their professors to read a couple of chapters in a single textbook – despite having to purchase the entire book (Allen 7). In the 1980s through the early 1990s, it was a fairly common practice for professors to offer â€Å"course packets,† which were photocopied chapters from several different textbooks and were made available to students for only the cost of the photocopies. These packets were widely considered by publishers to be a blatant violation of copyright law, leading to a lawsuit against a Kinkos in Ohio who was handling the photocopying order for Ohio State University. The publishers won the suit and course packets began disappearing not only from OSU but from colleges everywhere. (O'Shaughnessy 1-2) In 2010, the federal government passed a law as part of the Higher Education Opportunity Act (HEOA) requiring that book publishers tell professors up-front, in all marketing materials, how much the book will cost the student. The idea behind this provisi on of HEOA was described as â€Å"an effort to get professors to be aware of what their choices were really costing their students† (Smith A5).  

Visionary Mr Mineka Wickramasingh Essay Example for Free

Visionary Mr Mineka Wickramasingh Essay Brief background on CBL (Munchee) It was the visionary Mr Mineka Wickramasingha in 1960 who wanted to expand his family business from the chocolate market. It was at the same time that CARE looked at sources of nourishment for the poverty stricken. It was a substitute of a biscuit that Mr Wickramasinghe proposed looking to expand on those lines. At that time the market leaders were Maliban. They were the ones who were awarded the contract. Due to lack of space, CBL was first launched at Dehiwela in his own premises to produce a high protein biscuits for schools. From this footing Munchee, has marched forward to capture 80% of the market of the local market. For over 40 years the brand has developed a certain nostalgia that is irreplaceable by any other brand. The taste is enjoyed young and old alike. There vision is to become the number one biscuit in Asia. Product portfolio CBL now produces various food items which have become house hold names in Sri Lanka. CBL expansion is not only with biscuits to which consumers are more familiar, they also have chocolates under brand name ‘Ritzbury’ since 1990s. The other brands are Tiara and Lanka Soy. There are numerous subcategories under each product. There are jellies, soya base products, cereal products, herbal porridges, soups and much more. Sub Categories under the Munchee brand Sweet biscuitsCrackers Puffs Savory Biscuits Cream Biscuits Marie Cookies Assorted HerbalWafers These are premium and hand-moulded chocolates. They come in boxes and slabs. Can be as a coated biscuits or wafers or beans or candy bars. It is in different flavours, type, and size. Sub Categories Chocolate Coated Biscuits Chocolate Slabs Miniature Caterers RangeChocolate Coated Beans Chocolate Coated Balls Chocolate Coated Candy Bars Specialty ChocolatesChocolate Coated Wafers Soft sponge cake made to perfect texture and taste Layer Cake Portion Cake Butter Sponge Cake Swiss Roll Company performance Ceylon Biscuits is of undisputable quality. CBL has shown a growth both in sales and profit for the last 5 years. Revenue had doubled from Rs.1.9 to Rs 5,2 Billion by 2005. Group turnover grew by 48% that same year. Net profit that year was Rs.533 Mio. This was the highest recorded profit for this company. CBL profit gradually grew, as it caught on to an international market. By 2011 sales revenue has grown by 25% in comparison to 2010. The overall profit margin was around 9% for the recently past five years. If ever the company saw a small decline it was due to industrial unrest. This biscuit is spread over 95,000 retail outlets all around Sri Lanka. CBL exports to 36 international destinations. It has been able to spread it’s fame in South Asia as well. Some of the countries of export are USA, Canada, Australia, UK, Hong Kong, China, India, Maldives and even the Middle East countries. The annual export revenue is about US $ 4 to 5 million. CBL has many awards for its entrepr eneurship. These awards are Exports in the Gold Category, Product Brand of the Year for four consecutive years, Anugu International Food Fair award. The daily production is around 150 tons. The annual production is around 45,000 tons. The company’s labor force is about 3,500. Company sustainability relies on strict norms on quality, texture and taste. For this it uses the latest technology, innovative marketing, research and development. The three C analysis There are three phases that need to be carefully scrutinized in order get a total overview of the product. Customer analysis Of the main brand Munchee, the customer analysis will be done on a sub category -Marie widely known as â€Å"Tikiri Marie –or Munchee Tikiri Marie. It is a small sized biscuit. The market segment chosen were children. Presently it is packed in a ‘keep fresh pack’ sold at a economical price. The advertisement that was done on a range of media was presented in the most attractive way, backed by lyrics that set a smile on the lips of any child. It was later that Maliban put a Marie range into the market. But by then Munchee Tikiri Marie had taken the market by storm. Competitor analysis There has been great potential for a children’s biscuit in the market. CBL had limited resources, especially in production technology which restricted revenue. It was the consumer preference that motivated CBL to keep producing the Marie Biscuit. At one point in time 50% of the production was Marie. Yet, the company was unable to raise profits. Maliban held strong to its position. No advertising, trade promotions or merchandising was able take over the market share that Maliban held. Maliban Marie has an unique flavor that was unmatchable. Volume market share (Total Biscuit Market-February 2005) Communication analysis This is a (B2C) nature of business. The company has used campaigns such as Tikiri Marie scholarship program.-Munchee Tikiri Shishyadara. Expansion programs worth Rs. 500 million Rs. 300 million for state of the art plant. It was known as Plant 6 from Italy. CBL went to war using all types of media from TV, newspaper, radio, magazines, even websites to introduce a new Marie. There was a series of advertisement for Tikiri Marie- from ‘Kohomada Tikiri Mole’ to the first day in school. All campaigns had been embarked under their corporate moto-‘A crowning success’. This was CBL communication approach of tacking Maliban. Target market for Munchee Tikiri Marie The brand â€Å"Munchee† has not only spread over domestic market but also the export market. Munchee is now exported to over 36 countries. Munchee can be seen in Gourmet Shops in Australia, supermarket like Wal-Mart, K-mart worldwide in countries like UK, Germany , Italy , Middle-East , Canada and Japan. South East Asian region is spread over 11 countries. When Munchee is target marketed in this area, it must be the same target market as of the other South Asian countries. It is the high quality, texture and taste that captivate any child in any country. Because of this CBL must ensure that they do not loose the perception of ‘a biscuit for children.’ As it is not being partnered by any company as it was in UK the brand name can prevail. Here CBL needs to position its product, thus no private label will be needed either like NTUC of Singapore and Supreme brand in China. Segment for Marie Geographical segmentation-South Asia, Europe, America, UK Demographical Segmentation Age, taste, texture, income Behavioral segment- instant, nutritious Product positioning of Marie Brand Identity vs. Competition (Source- AC Neilson) Premium quality, Innovative and value for money brand available at arms length of desire. Scope of this Integrated Marketing Communications Plan It looks in to objectives, strategies, and tools in communication used to successfully bring about integrated marketing. The plan will discuss ways to launch a program to communicate product. Marketing objective Increase the sale of Munchee Buiscuits. CBL is looking to increase sales by 5% within the next two years. With this to increase the market share by 5% at the end of the second year. Increase the company profile while enhancing the product among the target market. Munchee also wishes to strengthen Brand image among South East Asian countries as a healthy, nutritious biscuit. Communication Objective Awareness program to reach 20% of target market through television, newspaper advertising and web promotions. At least 5% the target market must purchase the product. Issues and Challenges The target market may have other preferences in biscuits. This entirely depends on texture, flavor, taste, shape and size. Thus the promotions/advertising will have to be attractive, creative and innovative in order to reach the hearts and minds of South East Asian Children. Situational analysis Current problem facing product * The target audience may not be reached. * They may prefer other biscuits. * Difficult to build brand loyalty in the food industry. Identifying target * The target market is chosen taking taste and nutrition in to consideration. * Targeting people who looks for low price but has to be of quality. Selecting a Market to Target South East Asia Geographic segmentation Children of the age 1-16 , Middle class Demographic segmentation Target market Instant, nutritious Behavioral segmentation The target market that has been chosen is of the geographical location of South East Asia region among a demographic target of children between the ages of 1-16. In modern South East Asia food in freely available for purchases for people who are one the move. This biscuit provides nutrients that are good for children and is an easy snack in a keep fresh pack. It is instant food for hungry youngsters. Positioning through Marketing Strategies * Introductory price * Chance to taste Competition Product Comparison There are companies like DIMOs that offer discounts to Government servants but no company has offered it to Bankers. AMW is the first to get into this program. Barriers to Entry * The awareness in low. * Banks have tied with other automobile companies, on a separate basis for their leasing requirements and the staff gets their vehicles also leased through those companies. * Buyers may go for second hand as the economic situations are tough. Competitor Differentiation | Chery QQ| Micro Panda| Features | Small hatch back with comfortable interior, Three Cylinder DOHCMPI 12V Petrol 812 CC engine Chery is imported from China and marketed in Sri Lanka by David Peiris Motor Company| Micro car, Volvo tech, 1300 cc engine. Made in Sri Lanka. Comes with and without air bag.| Target Market| Working professionals| Working professionals| Strengths | Low price, Brand backing | Made in Sri Lanka| Weakness | Small range of customers, No discount| Small range of customersNo discount| Consumer Behaviour – problems faced in addressing communication message There is nothing extraordinarily attractive about the AMW Maruti. But the interior is appealing. It is economical on the fuel. There is a one year warranty on the car. These are some of the aspects in regards to the car that a consumer will look at. Then the consumer is going to look at the company that selling the car. Associated Motor Ways Ltd is one of the oldest automobile conglomerates in Sri Lanka. They are the sole distributors of Suzuki vehicles in Sri Lanka and are affiliated with several brand names in the motor industry such as Nissan, Yamaha, and Goodyear. Addressing the problems with the vehicle such as no extra ordinary beauty about the vehicle or that there is fume emission from the vehicles which is hazardous to the external environment, what AMW concentrates on is the interior of the car and how economical it is. The Maruti is good on fuel. The size makes it easy to handle. This car is val ue for money. Branding Bankers are likely for a discount program where the vehicles are leased giving a bank loan. Maruti is likely to stay in the minds of the buyer due to features of the vehicle, the interior and the engine capacity in relation to the other brands of this same model which where given under competitor analysis. The Maruti is a more durable and dependable brand. Position statement This promotion is available only for bankers that are permanent in their jobs and the loan facilities are available. Any other financing will not be permitted. The discount is available for all colours of Maruti. Promotion The promotion is done within Colombo and its near suburbs. For this promotion 50% of the budgeted funds are allocated. This was first circulated to family and friends, for the word of mouth is the cheapest and the best way of promoting a discount program. Gradually as the awareness starts to increase it will be circulated among banks, first on a personal basis to call whose contacts can be acquired. Then the leasing managers or the staff managers in charge of staff leasing will be approached. Depending on the geographical location, banks will be approached in regards to the promotion. Once the approval has been obtained by the management, posters will distribute to main branches. These are known as power position advertising. The dealership logo will be indicated in the poster. A list of the eligible staff members will be collected and a web based mailer will be sent out to them. Permission will be acquired to post the promotion on an intranet facility that is accessible only to the relevant bankers of the targeted bank. A car may be sent out to the main branch for display. Once the initial promotions have been done in and around the main branches where web may not be the best promotional attribute a news paper advertisement will be posted. The news paper will carry a pictureous depictation of the car with a Brand Ambassador. The Brand Ambassador can be a cricketer or any other sportsman who is working in a bank indicating that this is the best leasing offer ever. These adds will have to run every often and it must be made sure that the adds are not too small to see. It may be preferable to advertise in a Sinhalese paper when thinking of promoting the discount program among the suburbs. There has to be creativity, innovation and an even flow for an advertisement to catch the eyes of the reader. A Saturday or Sunday paper is preferable as people have more time than on a weekday to read the paper. Television can be used as last resort. This is expensive but can be the most influential method of advertising. This is a sure a way of information gathering for viewers. The television adds usually have a lasting impression on the viewer. This is a sure way of assuring results for IMC. There are many highly watched channels of those the cheapest but the most effective can be used. The TV add can play between programs. The programs after which the add will be aired will have to be carefully chosen. It will need to depend on viewer’s discretion. The advertisement can go on for a period of 6 months at least. The web based marketing is another method by which advisement can be done. This is the most modern method. Some of the websites frequently visited by banke rs are Facebook, ESPN, Google, YouTube, Digg.com, Myspace, and Perezhilton.com. The most popular of them all is Facebook, Google, and Youtube. All these websites focus on online advertisements. Websites like Facebook taps a large audience. This not only enables promoting to bankers but also lets others know the car sale. This is a good way to get other companies to tie up with the dealership of AMW. Communication Tactical Calendar | Jan| Feb| Mar| Apr| May| Jun| Jul| Aug| Sep| Oct| Nov| Dec| Poster| | | | | | | | | | | | | News paper| | | | | | | | | | | | | TV| | | | | | | | | | | | | Web| | | | | | | | | | | | | Display| | | | | | | | | | | | | Budget The largest potion that is 50% of the budget is for promotion. Of the 50% promotional budget 30% will be allocated for television commercials, the remainder 20% for news paper, posters, display and web. The remainder 50% will be allocated for Brand Ambassador and miscellaneous expenses. The total allocation for the budget is Rs. 2,000,000/- Measurement system Implementation Controls Monitoring, review and control will be done by the dealership company with the collaboration with the bank that is leasing the vehicle. The review to be done on a monthly basis. Progress against targets to be analyzed. For this a marketing plan has to be drawn out. A target market needs to be chosen and a pilot project done before, the discount program is advertised. Once the dealership feels that this can be a successfully implemented then monitoring has to be undertaken. This has to be done carefully. Gap analysis done on a regular basis. Correction actions need to be taken if there is no progress within the first three months of advertising. Dealership may go back to the drawing board and redo the marketing plan again. Quality Assurance Around this time the company was receiving a number of complaints regarding its biscuits breakages, poor taste, quality etc. Rather than ignore the issue, CBL decided to place an emphasis on investigating the cause of the complaints, and took corrective action, including formula changes, to reduce the high number of returns at the time. Setting up better procedures for packing, product handling and transportation, the company prepared for its future growth. It conducted daily taste tests of its own products and organized regular taste panels to compare its products with those of its competitors. It also methodically documented the specifications of all products being manufactured knowledge that had previously been passed on through practice and word of mouth. As the demands on the Quality Assurance department began to rise, the company decided in 1996 to seek ISO certification Today, quality assurance remains an area of particular pride for Munchee. The department plays a critical role in product testing and development of production process controls and systems. High hygiene standards for toilet habits and hair, together with regular swab tests of employees are strictly enforced. Every shipment of incoming materials is tested for quality and those that fail are rejected. Following a complaint, products are collected from customers and subject to laboratory analysis. In 2004, CBL received HACCP certification for food safety together with SLS certification for its biscuits23.. With these in hand CBL became the only confectionary company in Sri Lanka to acquire all relevant quality certifications for its line of business i.e. SLS, ISO 9001:2000, ISO 1400124 and HACCP. Product Development Product development also became an area of increased focus. While CBL had begun operations with a line of distinctive biscuits, along with some generics. However, in the recent years the push for higher turnover had resulted in innovation playing a secondary role. Some of the biscuits that had made Munchee distinctive, were neglected in favor of more mass consumer products. CBL began formulations and potential improvements to flavor and quality. The company also began to actively investigate and keep up with new technologies and machinery by participating regularly at trade exhibitions and through membership in industry associations. Distribution Around this time CBL took the decision to rethink its methods of distribution and undertook to overhaul its sales and distribution efforts in favor of a much bolder plan. Up to this point the company had depended almost completely on wholesalers to sell its products as a hassle free means of managing its distribution efforts. As a result, while CBL had the logistic and cost advantages of maintaining a lean sales team, the company suffered due to its dependence on the enthusiasm of its wholesalers to push its products. CBL decided to bite the bullet and invest heavily in its sales force. It expanded its distribution reach, increasing its number of distributors, changed the demarcation of sales regions into much smaller areas for more intensive sales efforts and recruited the regional and senior sales personnel required to cope with this new direction. 5.4.4 Customer Intimacy With the changes to its sales force, CBL was forced to face up to the fact that it was very removed from its consumers. The company recognized that it had been paralleling the moves and decisions made by Maliban rather than acting on real consumer insights. CBLs focus had been very much product centric concentrated on improvement of its formulation and production technology. It developed its products in isolation and once developed attempted to market them. Little attention had been paid to market research, even on an informal basis. Moreover, CBL began to understand that its customer was a new, youthful generation whose tastes and style were very different from the consumer of the previous ten years. Beginning in 1996, the Board itself acknowledged this changed attitude by beginning to go to the field on a regular basis to a top down attempt to gauge market perceptions and trends. The newly developed sales force provided feedback from consumers and distributors and the company took the further step of setting up a separate subsidiary to plan its marketing activities and to become more responsive to market needs an gaps. The holding company became primarily responsible for improving product quality and procedures. 5.4.5 Image Building CBL also recognized that in order to grow it had to become a better known name as a company. Partly as a result of its multiple brand names, CBL itself was relatively unknown as a corporate entity. Embarking on a campaign to raise the profile of the company, CBL engaged the services of a consultant, and set out to gain greater corporate recognition for itself among both consumers and the business community. The publics lack of knowledge of the breadth of the companys activities was hindering its activities as a holding company, particularly for purposes such as tapping the capital market. With the help of its consultant, CBL set about establishing a public image for itself. This was done primarily through the print media. Every week or so, an article regarding the company and its various corporate activities and Latest initiatives, including its export plans and CSR, appeared in the newspapers. Competitiveness Behaviour The Biscuit Wars Around 1995, CBL had hit a wall in terms of increasing its turnover. Limited by its existing production technology and consumer tastes, t its highest growth opportunity lay in the Marie biscuit market. While CBLs Marie25 biscuits now made up 50% of total production, the company was unable to meaningfully increase its sales and market share of the Marie category. It had attempted a variety of marketing activities including extensive advertising, merchandising and trade promotions, but was still not able to take sufficient market share away from Maliban. The Munchee Marie biscuit was at this time essentially a knockoff of Malibans Marie and used very similar packaging. However, despite much effort and testing, eBL was not able to exactly reproduce the Maliban Marie flavor. Although market share was a (then) respectable 10% and despite fervent urgings from its own sales team to the contrary to be more like Maliban, CBL decided that the time had come to change tactics and be different in order to try to break through the turnover barrier. The Tikiri Marie Campaign Munchee hit on the winning concept of launching its own Marie as Tikiri Marie – a petit sized Marie biscuit using an aggressive campaign entitled Tikiri Mole†, to bring the little biscuit to the attention of consumers. The campaign targeted children with the use of attractive advertising and proved a real turning point in Munchees growth and image. The biscuit was so successful that the smaller sized Tikiri Marie became the number one Marie biscuit in the Sri Lankan market, with a phenomenal 50 per cent of Marie market share and eventually forced the giant Maliban to acknowledge Munchee as a significant market player by playing copy cat and resizing its own Marie. 7 Part of Munchees success with Tikiri Marie stemmed from Malibans complacency and its failure to react to this attack on the Marie category. The Tikiri Marie campaign brought into effect other changes at CBL such as the introduction of Munchees keep fresh pack, which ensured better product freshness. Followin g its success with Tikiri Marie CBL expanded the use of the fresh pack to the entire Munchee biscuit range. The company also commenced a Tikiri Marie scholarship program for school children in 1997 entitled Munchee Tikiri Shishyadara which it continues to this day. Now in its eighth year, the program provides 120 deserving children with scholarships of Rs. 1000 per month for one year with fresh applicants being selected annually. By 1998, the cumulative effect of the changes made through the 1990s, resulted in CBL achieving a 30% market share of the biscuit market (up from 20% at the start of the 1990s) and topping the Rs. 1 billion turnover mark. This was a major milestone for CBL, both internally and externally. The company was becoming better known, both to consumers for its brands and quality products and to the industry for its investments in good technology. CBL reinforced this reputation by committing to a Rs. 500 million expansion program Rs. 300 million of which was spent on a large state of the art plant from Italy. Plant 6 as it was known, was CBLs largest capacity plant thus far with five lines that could handle both hard and fermented dough. This action by CBL sent a strong message, to its staff and associates, about CBLs optimism and confidence in the companys future growth commercialization of this new plant, CBL planned to introduce a new range of biscuits to tackle Maliban head-on. 6.1.2 The Lemon Puff Battle CBLs next strategic attack on Maliban came in 2001 with its Lemon Puff. The Munchee Lemon Puff had a solid 30% market share but as was the case with Marie, failed at growing sales further as a me too product. CBL decided to re-Launch Lemon Puff, by promoting it as a sandwich biscuit with a higher quantity of lemon cream. The campaign was heralded by an intensive television campaign directed at capturing the attention of a new market. What the company did not reveal in its advertising was that the cracker itself had been vastly improved, through a new formula and upgraded technology. It was in fact a noticeably better overall sandwich biscuit than Malibans Lemon Puff rather than just being a look alike with more cream. Going against the advice of its advertising company, Munchee replaced the traditional yellow packaging, synonymous with the Lemon Puff category, with a white wrapper. The superior moisture and odour barriers of the new metalized wrapper combined with the new pillow pack technology, which used only two seals to achieve increased air-tightness, better preserved the crispness and freshness of the sandwich biscuit. This had been a problem that had plagued both companies puffs for decades. Consumers who tasted the Munchee Lemon Puff for its extra cream (not enough cream was a complaint associated with both Lemon Puffs for years) were pleasantly surprised and rapidly switched loyalty to the Munchee Lemon Puffs. Thus Munchee demonstrated that it was in touch with tastes of its consumers and used their feedback to improve its biscuits. The impact of the product changes were felt immediately. Munchees market share in puffs went up from 30% to over 50% within a mere four months following this relaunch, and grew the entire puff category from 12 to 16%. As a result, Malibans share of Lemon Puff which had been a staggering 70% plummeted to 29%. By now Munchee had 45% of the local biscuit market and was vying with Maliban for market leadership. CBLs next big ch allenge was clear take on Maliban in the cream cracker market. Despite Munchees success at growing its sales, Maliban still had nearly 75% of the lucrative cracker market while Munchee was at a meager 23%. The Maliban cream cracker was well accepted and entrenched in the market. CBL had to find a way of breaking through with an innovative cream cracker to take on this market. 6.1.3 The Cream Cracker Assault The following year, in 2002, CBL re-Iaunched its cracker as a Super Cream Cracker, enriched with vitamins in a bold campaign, with live broadcast of two music shows held simultaneously in Colombo and Anuradhapura before massive crowds As they had done with the Lemon Puff, CBL used a new metalized pillow-pack with a contemporary look to break away from the traditional solid red Maliban packaging synonymous s with cream cracker and re-formulated the cracker to deliver a crisper and tastier product. The Munchee strategy of delivering a superior quality product that convinced consumers to switch brands proved a success and the results were phenomenal. Cracker sales grew, expanding its own market not merely taking over competitor share. Growth in sales nearly tripled and Munchees market share in cream cracker immediately doubled to 40%, reaching 50% the foHowing year. Today, of the total cream cracker category, which makes up 20% of the total domestic biscuit market, Munchee owns a 60% sh are. Super Cream Cracker accounts for 30% of the companys turnover, with a profit margin of over 25%. Munchee continues to fight aggressively for market share. Its most recent marketing campaign entitled Podi Badaginne† targets the large 500 gm pack market, previously serviced by loose crackers. The focus is to use the cracker as a substitute for a full meal for chummary factory workers who are already provided with two meals from their work place. The company has again demonstrated its knowledge of customer needs and changing trends and lifestyles in Sri Lanka as the record 128% growth of this heavy use pack from 2004 to 2005 shows. Business Expansion Beginning from the 1990s, CBL began looking at other areas in the food and confectionary industry to expand its businesses activities. 6.2.1 Ritzbury One of the first areas CBL explored was one naturally complementary to its existing line of business: chocolate. At one time, the company had produced chocolate for Nestle and had some exposure to Nestles chocolate operations. Launched in 1991, Ritzbury chocolates began with chocolate coated (enrobed) biscuits. The company went through much teething pain in developing the right quality chocolate for its use. It struggled to develop a workable formulation one that tasted good while withstanding the melting and rancidity caused by the tropical Sri Lankan weather. Ritzbury gradually developed its market by first growing its range of coated biscuits, then expanding to chocolate candies and hand made chocolates, and only recently moving into the traditional slabs the largest market category. The companys strategy is to provide innovative eye-catching products to its consumers and thus differentiate from its competition. Ritzburys first entry was Chunky Choc (chocolate covered biscuits sandwich with butterscotch cream filling), followed by Chit Chat (chocolate coated wafer with hazelnut cream) and Chocolate Fingers (chocolate coated finger biscuit). Another innovation for Sri Lanka was Pebbles (brightly colore d, sugar coated chocolate candies). The Ritzbury range includes Nik Nak, (chocolate coated vanilla cream wafer), Go Nuts (colored chocolate coated peanuts), Choosy (liquid chocolate stick) and Choco-La individual nuggets. Although it started out originally as a poor number four, Ritzbury recently beat Kandos (Ceylon Chocolates) to the number two spot in the chocolate market. However, at 21 % vs. 42% Ritzbury has only half the market share of market leader Edna and a long way to go to become number one. Further, Edna has itself shown to be very aggressive and quick in bringing out innovative products to the chocolate market. Ritzbury for its part, offers over 60 differentiated items, at the full range of price points and with a dedicated sales force certainly provides its consumers affordability and access. Despite being a small local brand, it offers consumers a complete range of chocolates and chocolate coated products and for other products frequently provides comparable alternati ves to more expensive imported products. Examples are Pebbles as an alternative to Smarties, Chit Chat to Kit Kat and Go Nuts to MMs. Yet, apart from the hand molded specialty chocolates and coated biscuits products, the company has yet to fully convince local consumers that the quality of its slab range is on par with that of imports or Kandos. By 1997, following its first biscuit war and having grown its market share in the biscuit market to a respectable 30%, CBL began to focus on sales of Ritzbury. One hindrance to improving growth CBL realized was the then single chain of distribution it used for both biscuits and chocolates. In practical terms what this implied was that once a retailer had gone through purchases of the more established Munchee list of biscuits they would have little money left for Ritzbury chocolates. Ritzbury sales were materially affected and it became evident that an alternative would have to be sought out. One option was to increase the breadth of the CBL range in order to afford to maintain a second line of distribution. 6.2.2 Pancho Snacks With this in mind, CBL decided to enter the snack food market in 1998 under Ritzbury. Named Pancho, this snack range was made up primarily of extruded snacks. However, despite the companys sustained efforts with Pancho and the separate sales force, the impulse buy snack market proved a disappointing arena for CBL. Despite the introduction of two products under a new line named Catch Me together with a re-Launch of Pancho in 2000, the company found that it could only succeed in this market with a near continuous stream of promotions. Although CBL persevered in snack foods for nearly five years, it was eventually forced to close up this operation and admit failure. With the aim of an expansion of its range still in mind, CBL next entered a completely unfamiliar food market. In 2000 due to its own financial difficulties, Yanik Incorporated, an investment bank, was selling its 79% stake in Soy Foods (Lanka) Limited, a public listed company manufacturing textured vegetable protein (TVP) n uggets. Soy Foods was a loss making number four player in the market but had pioneered a number of soy products under the brand Lanka Soy. CBL seized this opportunity to expand its range, encouraged by its present Managing Director who had experience in the soya area. CBL purchased the stake in Soy Foods at Rs.9/share and took over operations in September 2000; by 2002 the company had been successfully turned around and had become a viable entity. This was the success story that CBL had been searching for. The Soy Foods line allowed CBL to maintain a dual distribution network, one for its biscuits and another for chocolates and soy. The effects of this isolation of chocolate sales from biscuits were immediate and notable. By 2002 Ritzbury had made impressive inroads into its competition and grown market share to over 15%. 6.2.3 Lanka Soy In 2000 when CBL bought over management of Soy Foods (Lanka) Ltd. from Yanik it was a loss making company. Despite being the pioneer in the local soy market, Lanka Soy was at the time selling only 50% of the volumes of the market leader Raigam, with a 15% market share. The companys growth was stagnating in a rapidly growing market, and many smaller competitors were cashing on its market with lookalike products. The ambitious strategy set out for a turnaround of the company was to aim to make it not merely profitable but the market leader. CBL decided that not only was it necessary to grow Lanka Soys market share, through a fresh look and product, it was going to grow the total product market through a change in positioning. Thinking very innovatively, the company decided what was needed was to position soya not just as a vegetarian food, but as a more economical substitute for the protein content of a main meal. Touting advantages such as convenience, price and the lack of freezer requirements together with newly introduced catchy features such as interesting shapes and flavors, a whole range of new branded soy products were launched under the Lanka Soy umbrella. Given that at the time, chicken flavored soya was the most popular soya product the company decided it would introduce interesting flavors to accompany new presentation efforts. In order to take the competition head on, it improved the taste of its traditional range, while also increasing its product range. It developed not one but a range of chicken flavors, under the brand Chikosoy, consisting of tandoori, masala, roast and chilli chicken flavors. For the traditional vegetarian market, it introduced the Vegesoy range a further four flavors of mushroom, hot and spicy, Chinese chop suey and Indian rasam. But its piece de resistance was a completely new entrant Malusoy. This range of not merely fish but also seafood flavors truly tapped into a very strong local preference for seafood. Malusoy comprised spratts, devilled prawns, cuttlefish and ambul thiyal flavors. Packaging for the four new sub brands was done using a range of appealing eye-catching colors, with a unique logo designed for each. Advertising again interestingly was carried out individually on a sub brand basis. For example, Malusoy used a two column poster conveying the advantages over canned fish. The company also took the extra step of providing a sauce sachet to provide a one step cooking process. Emphasis was placed to introduce the cooked product to consumers by way of cookery demonstrations and street promotions. In particular, Malusoy was aimed at areas with little coastal access. Sales efforts were overhauled, re-demarcating a network to reach 35,000 outlets with designated representatives for supermarkets, catering and restaurant sectors. The results were strong. By early 2002 Lanka Soys market share had jumped to 25% hitting 30% and market leadership a year later. Malusoy to eBLs surprise turned out to be Lanka Soys front runner in sales. The strategy to offer consumers, as a household, their daily main dish at a price less than half the price of canned or fresh sea food was highly successful. Within 24 months Malusoy sales exceeded 500,000 packets a month, making up over 14% of the total soy market. Due to the sudden launch of many interesting products at the same time Lankasoy established itself as trend setter and frontrunner of the soya product market. 6.2.4 Tiara Cakes eBLs next expansion was within the local confectionary business -the lucrative Rs. 4 billion plus local cake market. eBLs main biscuit and chocolate operations had traditionally taken place at its home factory located along with its head office in Pannipitiya. However in 2002, the company invested Rs. 1.5 billion to set up eBL Foods International (eBL Foods), a Board of Investment (BOI) approved company in Rannala, about one hour away. Awarded a 10 year tax holiday, eBL Foods has a mandate to manufacture bakery products and chocolates the former includes a new line of cakes under the brand name Tiara. The new venture commenced operations in September 2004 with a new line of portion cakes individually wrapped sponge layer cakes, marketed under the Tiara sub brand Okay, The product line also includes swiss rolls. CBL Foods boasts a state of the art plant intended primarily for cakes and a Clean Room,,33 to guarantee freshness for a shelf life of up to eight months. Due to production constraints faced elsewhere however the 110,000 square foot modern facility also includes manufacturing and packing for chocolates, wafers and biscuits the latter including both hard and soft dough. CBL expects that its group tax slab will come down to 32.5% as a result of CBL Foods tax advantaged status and the shifting of these manufacturing of chocolates, wafers and biscuits, which previously came under Ceylon Biscuits tax slab. The company uses a formula to determine profit and is taxed at the preferential rate of 15% on its export. 6.2.5 Other Snacks In 2004, CBL invested Rs. 50 million to acquire a 60% stake in Cecil Food (Pvt) Limited (Cecil Food) an organic manufacturer of dehydrated fruit products, fruit juices, desiccated coconut and cashews primarily for the export market. Though the company had been in existence for 10 years and exported to 20 countries, it was facing financial difficulties. CBL brought to Cecil Foods the financial strength and management experience that it needed, while the founder retained a 25% stake. CBLs main interest in Cecil Food was its exposure to rural agriculture and its export and local market potential. The company presently exports to countries including the US, UK, Germany, Taiwan, Australia, New Zealand, Malta, UAE, Saudi Arabia, Qatar and Bahrain. Armed with CBLs financial backing the company has overcome its working capital needs. CBLs infusion of capital has enabled the purchase of new equipment and is now looking at expanding sales to tap the local market. Cecil Foods also has a 100% o wned subsidiary Cecil Fruit Canneries which concentrates on natural fruit juices for both the domestic and export markets. CBL intends to launch this range to the domestic market by introducing a line of fruit juices in novelty pouches. Export Markets CBL has also set its sights on growing its revenues through tapping sales in overseas markets. Although CBL had been exporting biscuits from inception, around 1997, the company began to export regular container loads to the United States, Canada, Australia and India, while also investigating at lucrative export markets such as the Middle East. India became a particular focus, with the company beginning its own marketing effort there. By 2000 CBL was also exporting to the US, Canada, Australia, UK, Sweden, the Middle East, Hong Kong, Mauritius, Fiji Islands and the Maldives. Although the export sector took a long time to stabilize, export orders now go out to 36 countries, exceeding Rs. 110 million in value (USD$ 1 million) in 2004/5. Exports to the UK, Middle East and Canada are mainly to the so called ethnic markets catering to the Sri Lankan diaspora, but in other countries demand is slowly establishing into in the established biscuit market through chain distributors. While most e xports are under private labels that it, outsourcing for foreign biscuit companies CBL has managed in some instances to establish its own brand. This is particularly the case in Australia where the company has taken the additional step, as it did in India, of setting up its own marketing effort by establishing a company representative as market manager. Australia is now the main export market for CBL, having overtaken the United States. CBL also enjoyed some recent success making inroads into western Africa. 6.3.1 Entry into India There are four accepted methods for a company to enter a foreign market: exports, licensing, joint ventures and direct investment, which often represent an evolution in the degree of interest the company develops once it is present in the market. Beginning with straightforward exports from the mid 1990s and early exports of containers to India in 1999 CBL took the next step in developing the Indian market by investing Indian Rupees 3.6 crores (36 million) to purchase Parrys Confectionary based in Pondicherry, about an hour from Chennai. Setting up a 100% owned subsidiary Ritzbury India, CBL began manufacturing operations for the first time outside Sri Lanka. The acquisition provided CBL with a six line 350 ton a month manufacturing plant. The company entered the Indian market with the Munchee and Ritzbury brands, for distribution in Tamil Nadu and Kerala. While the chocolates were manufactured in Sri Lanka, most of the Munchee range was baked in India. CBL produced nine varieties of biscuits including Marie, Glucose biscuits and several creams at the Pondicherry plant. This manufacturing base in India proved to be both a blessing and a distress to CBL. On the one hand, it became a strong negotiating tool for CBL at a time of labour unrest. CBL was able to take a tough stance, threatening closure and the moving of its entire manufacturing operations to its base in India. However, on the other hand, distribution arrangements provided by Parrys proved to be less than satisfactory. The company began a losing battle in trying to distribute its products. Revenues were far below expectations and Ritzbury India further faced a number of detrimental tariffs in South India. Despite a Free Trade Agreement with India, and a reduction of duty to 3%, the state sales tax in Tamil Nadu was increased by 8% for imported goods effectively nullifying any duty concessions. Following a second acquisition in India, CBL decided to completely dispose of its Chennai operations at a loss , dissolving Ritzbury India. In 2003 CBL heard about the sale through court auction of Bakemans, once the third largest biscuit manufacturer in India with a market share high of 13% of the total Indian market. Outbidding its Indian competition in July 2004 CBL successfully acquired the assets of Bake mans at a cost ofRs .. 300 million. Along with the premises the company also gained six biscuit lines from the acquisition, two of which it chose to bring to Sri Lanka for installation at CBL foods to allay its present capacity constraints. Based in Patiala in the state of Punjab, CBL set up CBL India with plans to commence commercial production in the near future, using one biscuit line. Having recruited Bakemans former CEO, who had been directly involved in the companys rise to its one time number three position, CBL has ambitious plans for India and its manufacturing operations there in the future. Tentatively speaking of a Munchee-Bakemans brand name, CBL aspires to become number three in India within two years of operations and have the same type of success at retail that Dilmah has achieved in India CBLs challenge in India is to find a mass consume r line of biscuits similar to Marie and Cream Cracker in Sri Lanka. Glucose biscuits are an area that the company will have to examine, given their present popularity in India, but to compete with established players such as Parle-G and Britannia, CBL will need both a reliable distribution network and an attractive proposition for the Indian consumers to give it a try. The use of the Bakeman name, which would certainly aid the latter, is presently an issue. If CBL is able to use the Bakeman brand name in some form it will cut down market establishment time considerably. CBLs strength is that it has the innovation to develop a product to suit this market and it has proved in Sri Lanka that it has the quality and taste to convince consumers to switch to its brand. What remains to be seen is whether it will have sufficient insight into the Indian market to correctly select what that winning product and distribution strategy should be. Other Indian Ventures In 2004 CBL entered into an agreement with Ferrero of Italy to distribute and undertake manufacturing on Ferreros behalf. Ferrero is the world renowned producer of Nutella, Tic Tac and Ferrero Rocher and Mon Cherie brands of chocolate and another family owned business. Presently the agreement entails the manufacture of boxes for Tic Tac, Ferreros signature mini mint, intended to be extended to the manufacture or finishing of the mint pill also. CBL distributes Ferrero Rochers foil wrapped boxed chocolates, Nutella and Tic Tac for Ferrero in Sri Lanka and India. Manufacturing commenced in August 2005, packing pills imported from Australia into the boxes. Distribution is intended for Sri Lanka, Africa, India and Pakistan. The linkup with Ferrero is another example of CBLs chairmans dynamic personality and relationship building skills. Following initial contact in India, CBLs directors visited Ferreros head quarters in Alba, Italy, which Ferrero reciprocated with a visit to Sri Lanka. The company has expressed an interest in using Sri Lanka as a base for South Asian activities, moving its present activities from India, convinced of CBLsabilities as a business partner. CBL in turn hopes the association will expand its knowledge base through contact with the 60 year old Italian family business. Business Unit Contribution Biscuits Turnover from Munchee biscuits, the biggest contributor to group turnover, grew 30% in the financial year 2004/5 and early results for 2005 show this trend continuing. Past years sales have grown at a similar overall pace, although specific products have shown even higher growth rates at times of changes and innovation. Profit margins on biscuits range from 20-25% with products such as Super Cream Cracker, Tiffin and Chocolate Puff being the most profitable. Biscuit sales are presently constrained primarily by production capability, with demand strong and the company intending to increase its production lines in 2005/6. To try to keep up with demand, CBL has brought down two lines already from its recent acquisition in India and plans to import a new 2 ton per hour machine from Italy, expected to be installed in early 2006. Group Performance While CBLs overall growth has been strong over the past five years with revenues more than doubling from Rs. 1.9 to Rs. 5.2 billion over the period, profit increases have been even higher due to various tax benefits. In 2005 CBLs group turnover grew 48% to Rs. 5.2 billion and net profit after tax grew 63% to Rs. 533 million, the highest ever in the companys 36 year history. Sales surpassed the previous year across all areas of biscuits, chocolates, Soya and exports. The tremendous bottom line growth clearly indicates the contribution accrued from CBL Foods tax advantaged status. In comparison the 2004 figures were 11% top line and 23% bottom line growth. On average, overall profit margin has been near 9% over the five year period. This is taking into account FlY 200112 which differs due to both the industrial unrest that CBL faced for two months of that financial year as well as the exhaustion of the tax benefits afforded by the 1988 Investment Tax Allowance. The companys latest earning per share figure (EPS) is an astonishing Rs. 53.12 and more impressively has grown from Rs. 36.75 in 2003. This EPS figure reflects the extraordinary growth that CBL has experienced over the last 10 years. EPS in the late 1990s was actually in the Rs. 3000 range on the companys original ordinary share capital of Rs. 390,000 (made up of 39,000 Rs. 10 shares). Path Forward Ceylon Biscuits faced with production capacity constraints for its biscuits, as demand has grown well beyond forecasts. It has adopted the following three pronged approach to increase capacity: a) bringing down two biscuit lines from India from its Bakemans operation for immediate capacity expansion, b) importing a brand new large capacity plant from Italy and c) future capacity expansion of its Indian manufacturing operations. CBLs future growth will come from increasing exports of its established products and diversifying by leveraging its domestic logistics and distribution capabilities to market its other products. The company is also increasingly open to looking at new opportunities, an example being manufacturing for Italian chocolate maker Ferrero. The companys core competencies for the future will be investment in technology, financial strength, sales and marketing competency and focused management. Key challenges will be dealing with its production restrictions and becoming able to compete on a global basis by 2007. CBLs greatest test will be when the Indo Lanka FTA final phase permits Indian biscuits to be imported duty free beginning 2007. CBL intends to examine becoming listed on the Colombo Stock Exchange over the next few years. Since the desire for listing does not seem to be driven by financial needs only, it is still unclear what CBL will gain from this step. The company wishes to formalize its procedures in order to firm up its financial transparency and professionalize its organization structure and operations to ensure future continuity and success. There is a sentiment that going public will enforce the discipline required to ensure this. CBL is well poised with a business model to ensure ongoing value creation. It has spent time building strong brands that have future earnings potential. The brands have proven their competencies in that they have been replicated across new markets with success. However there are some concerns that need to be explored. Managing export markets Export marketing could be more aggressive the model adopted by Munchee for Australia of establishing a marketing office seems the proven route to establish and develop key markets. We see some amazing possibilities for synergies for CBL in inviting someone of the caliber of Merrill 1. Fernando Chairman Dilmah to its board, perhaps even offering Dilmah some equity in an export division or forming a separate export company, who could help with establishing relationships with some of Dilmahs retailers and distributors in Australia. One way or another, the use of a different model to fast track export market expansion is advisable. 5. Managing Indian market entry This is the second greatest challenge facing the company. India is an amazingly dissimilar market to Sri Lanka despite certain cultural similarities. It is fragmented with over 15 million retail entities, the largest number in the world. The organized retail sector in India is only 3%. However, over 51 % of its population is under 25 years of age and the fastest growing sector is the retail high-end supermarkets -expected to grow over three fold in the next five years (from US$8 billion to US$25 billion). Beginning with three malls in 2003, India had 25 by 2005 and is building 200 more. The pace of change is phenomenal. It makes sense to enter this high-end retail Focus on core competencieslRefocus on Sales and Marketing CBLs passion for quality, capacity to build brands and technological and production innovativeness are great competencies to be retained. Skills like marketing and sales are always unstable. Such skills are in demand, pressures are great and often new challenges are looked for in different cycles of growth. No proper product management system or category management is in place. It is important to have some depth to the marketing department. And while CBLs success speaks volumes for the capabilities of its current Director of marketing there is a need for a diversity of approaches and opinions so that marketing efforts do not grow stale. Key mid level appointments need to be made. Customer intimacy! Product leadership / Managing brand TOM In spite of CBL making all the right moves, and succeeding in achieving higher scores than Maliban in most of the consumer research categories (see chart below), Munchee is still behind in brand Top-Of-Mind (TOM) recall. This is despite Munchee having strong market noise levels in share of voice and especially with the competition making so many mistakes. Part of the gap between Munchee and Maliban in top of mind recall can be explained by the long history of Maliban as a market leader, and that it was the dominant player for a very long time. Part of the gap between Munchee and Maliban in top of mind recall can be explained by the long history of Maliban as a market leader, and that it was the dominant player for a very long time.