David Jones Essay Example

David Jones Essay Executive summary David Jones Limited is an Australian based department store chain that was founded by David Jones in the year 1838. Currently, the company has about 37 stores located in most Australian states and territories. The Australian department store industry is mostly dominated by large players which are David Jones and Myers, alongside smaller and independent companies. The report analyses David Jones’s external environment using Porter’s Five Forces model alongside the PEST model. The industry does not possess major threat from new entrants due to strong barriers to entry and strong competition for retail space. There is also a strong rivalry between competitors as limited space is being contested by major players alongside competing sales events meant to attract new customers. Online shopping is the most significant substitute for David Jones but is not as threatening as the hand on experience is not replicable by online shopping. Buyers or consumers possess a moderate amount of power as consumers are more careful of expenditure after the GFC and with the strong Australian currency, they can afford to purchase cheaper imported products. Supplier power is split in two, where more popular brands possess high power as they can choose whether to supply or not while smaller companies have considerably less as they depend on department stores to gain awareness and momentum. With the PEST model, it is shown that the department store industry is expected to show only a small amount of growth due to lack of confidence and increased spending. Also, government legislation is increasing David Jones’s fixed cost for operating by increasing employee wages, electricity bills and taxation. We will write a custom essay sample on David Jones specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on David Jones specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on David Jones specifically for you FOR ONLY $16.38 $13.9/page Hire Writer However modern technologies used such as Radio-Frequency Identification (RFID) can help reduce expense and achieve high performance. Increasing population, increasing importance of sustainability and also increasing multi-cultural growth, forces David Jones to adapt to satisfy these different needs and demands. The internal environment of David Jones is analysed using the value chain analysis and also analysing their resources and capabilities. The value chain analysis focuses on general management, HRM, technology development and procurement. David Jones provides financial services with an agreement with American Express via the use of credit cards. They also train and retain its over 9000 employees through constant development programs managed by their HRM department. David Jones focuses heavily on technology to manage their activities revolving around their products such as managing inventory levels and procurement. David Jones faces economies of scale when it comes to procurement as they possess multiple stores and tend to buy in bulk and also allowing products to be sold cheaper compared to smaller, independent stores. David Jones also focuses on partnerships with brands as they only sell final products, making contact with brands important so as to ensure exclusive distribution. Heavy investment is also placed into maintaining and improving store appearance to ensure the best consumer experience. In terms of resources and capabilities, David Jones possesses a few resources that build sustainable competitive advantage. The first major one is David Jones store locations as they are rare and hard to imitate due to the high cost and lack of availability. David Jones is also moving into the online market with a partnership with IBM to help improve online integration and give them a first mover advantage over Myers. Though the loyalty program employed by David Jones   contains points of differentiation, it is easily copied by Myers as the offerings are similar making it a temporary sustainable advantage at best. Improving service staff to act customer sales advisors may be a powerful source of differentiation, but as consumers are more tech savvy, this may become a strategic rigidity and is therefore viewed as a temporary competitive advantage. Industry Analysis Australian Department Store industry is a highly concentrated industry, with the big 4 companies account for over 80% of the market shares (Outlaw, 2012). New South Wales, Victoria and Queensland are the regions contributing over 75% of the 18. 9 billion industry revenue. Westfarmers (Target and Kmart) and Woolworths (BigW) are the two largest companies competing on low-cost strategies (Porter, 1980). Myers and David Jones, holding 15. 3% and 10. 5% market shares respectively (Figure 1), compete on differentiated strategies targeting the upper consumer market (Porter, 1980). Over 10% of the total working population are employed in this industry (Productivity Commission, 2011). In recent years, department stores industry has contracted since the hit of Global Financial Crisis creating shock on consumers’ confidence (Figure 2), despite Australia’s narrow escape from going into recession (Uren, 2009). As a result, the marginal propensity skyrocketed after GFC effect hit the economy from nearly mere 3% in mid-2007 to 12% in late-2008 (Figure 3). To stimulate the economy, RBA employs monetary policy by continuously lower cash rate since 2011 (RBA, 2012). Although 2012 has seen some increase in the industry revenue, IBISWorld predicted continuous decline until 2014 (Outlaw, 2012). David Jones announced in its ASX Release 40% decline in profit-after-tax in 2012 is expected, partly associated with costs involved in its new strategic initiatives (David Jones, 2012). Myer, David Jones’ closest competitors, experienced decreased total sales of 3. % and stated in the annual report that sales were disappointing due to challenging retail environment (Myer, 2011). Major retail chains, such as Zara and Gap, intensify the industry competition by opening their own branches in Australia (Productivity Commission, 2011). David Jones has 37 branches operating across Australia, except Northern Territory and Tasmania (David Jones, 2012). Sales revenue for David Jones was AUD2 billion in 2011, a 4% drop from previous year (David Jones, 20 11). The decline in sales revenue is expected for the income year ending 2012, despite reopening of its Melbourne CBD stores after 3 years redevelopment late 2011 (David Jones, 2012). As part of its ‘growing store network strategy’, two new branches in Highpoint (VIC) and Indooroopilly (QLD) has commenced construction and are due to open in 2013 and 2014 respectively (David Jones, 2012). Furthermore, it is planning to replicate the successful branch operation to the new stores and promised to build on its core strength. Figure 2: Consumer Sentiment Index Figure 3: Household Marginal Propensity to Save External Analysis Porter’s Five Forces New Entrants (low) Australia’s growing population attract new entrants to the market trying to capture the potential growth, as depicted by UK investment fund offer to overtake David Jones (Harper, 2012). However, the barrier to entry from the current major competitor is exceptionally high. The high industry concentration, with David Jones and Myers being the main players, are equipped with the funding allowing them to start price war blocking any interested entrants. As the industry is dependent on the population demography, all medium to high density regions are equipped with either Myers or David Jones (David Jones, 2012. Myer, 2012). It is more than likely that one will often find both stores located adjacent to each other. This limits the space available for new entrants as existing competitors are competing for such retail space. Thus, threat of new entrants is low. Rivalry (high) Rivalry among the department store industry has been increasing since 1980s, with major players have outlets throughout Australia both metropolitan and country areas. In order to operate efficiently and effectively, both large retail space and high volume traffic is required (Outlaw, 2012). Such space is rare, and every player is competing for it. Wide range of products and services is required as consumers are becoming more time sensitive (Drake, 2009). Sale events are often used as tools to attract consumers into their department stores, further emphasis the high competition in the industry. David Jones is competing for the higher segment than Kmart or BigW, hence must differentiated itself in non-price form as evident from its store decorations. Other formed of differentiation are value added products like own label credit card. With major retail chain, such as Zara, now operating independently in Australia, has increased the level of rivalry and threaten the existing retailers with their effective vertical integration allowing them to operate efficiently and quick stock turnover (Productivity Commission, 2011). Threat of substitute (low) The most significant form of substitute is online shopping which has become increasing legitimate form of shopping. With Amazon and eBay being the dominant player in the online industry, they are providing very wide range of goods and services on the online platform, allowing customers to browse products without limit on its location and range. However, they are not a major concern for the industry as consumers expected to have their hand on the products before making purchases especially in apparels retail. The current players are shielding themselves be offering online purchase services, with the growing trend to increase their online stock (David Jones, 2012). Niche market retailers posed as potential substitute for David Jones. However, they have little impact as David Jones captures the larger market. Power of buyers (consumers) (medium) Consumer spending drops as they become more price cautious after the post-global financial crisis, placing constraints on the David Jones and Myers (Productivity Commission, 2011). Intense rivalry among department stores has empowered buyers to enjoy vast savings as each strives to attract consumers into their stores. The strong dollar places challenge on domestic retailers as imports become relatively cheaper. David Jones need to work harder to attract customers to move out of the lower price alternatives, not only through enhanced shopping experienced but also through partnerships with AMEX and Quantas (Reilly, 2012). Power of Suppliers (medium) Retails such as Myers and David Jones, to some degree, depend on their supplier product line. One key aspect of differentiation strategy is get well-recognised brands to be selling exclusively at their stores. These power brands have relatively high power over David Jones, as demanded by consumers. Without them, consumers will go elsewhere where greater product selections are available. On the other hand, other minor brands require shop from, and David Jones can provide them with shop front across Australia. These manufacturers depend on David Jones for their shop front, hence David Jones has power over them. This interdependent relationship results in medium power of suppliers in general, as some may have higher bargaining power while others have less. Macro-environmental Forces Economic condition Although the global economy had started recovering from the global financial crisis, Australian retail industry is not completely unaffected. With an increased saving ratio, the industry was forecasted to only slightly climb up 0. 5% in this financial year, as Australian consumers do not have strong confidence in the market (IBISWorld, 2012). The declining consumer disposable income could lead to decrease in retail sales revenue. It had been found that David Jones’ profit went down by roughly 15 per cent with a drop of 8. 3 per cent in Consumer Sentiment (Appliance Retailer, 2011). Under this environment, consumers probably prefer discount goods instead of high-end products. Figure 1: Sales of David Jones for the past 5 years Political and legal Early 2010, the government introduced the New Modern Retail Award and the award has influenced the industry in many ways. For example, the employers have to pay double wages to employees if they work on Sundays (IBISWorld, 2012). In addition, an up to 19% jump of the electricity bill could be imposed on large retailers due to the government implemented carbon-tax (Renewable Energy News, 2012). Definitely, an increase in taxation would not only increase retailers’ fixed cost, but also increase consumers’ living cost and decrease their disposable income. Indeed, the power which comes from the government has great influence on the retail industry. Technological Retailers are able to cut expenses and achieve high performance because of advanced technologies that were broadly used in managing inventory and customer-relationship. Bar codes, EFTPOS and Radio-frequency identification (RFID) are the three most common instruments used in retail industry (IBISWorld, 2012). For instance, RFID could allow retailers to improve logistic efficiency by identifying accurate stock level, to reducing labour costs and preventing theft and theft. As the number of Internet users increased sharply from 6 million in year 2000 to   17 million in year 2010 (Internet World Stats, 2010), Internet shopping has become a trend among Australians. The development of transportation and secure online payment systems, like Paypal, made online shopping more attractive. Most department stores had built up websites, which support online shopping. Nonetheless, David Jones’ online shopping service might be still in the infant stage because of insufficient investment in technology (Bamp;T Magazine, 2012). Demographic Australias estimated resident population expects the Australian population would increase to between 30. 9 and 42. 5 million, which could be at least 1. 5 times to 2 times of today, by year 2056 (ABS, 2008). The demand of normal goods tends to keep growing. In other words, the department store could have broader development space. Socio-cultural As the population realized the significance of environmental sustainability, most department stores have implemented the idea of â€Å"sustainable environment† in their company policy. David Jones’ environment policy aims to operate and manage the company in a sustainable manner, such as reducing electricity consumption, promoting reusable shopping bags and building environmentally- sustainable stores (David Jones). Furthermore, growing number of immigrant have led Australia to be a multi-cultural nation. The Australian Bureau of Statistics expected that net the number of overseas migrants would grow instantly about 4000 quarterly until 2015 (2012). Culture diversity could change the original supply chain of department store in order to meet the new immigrants’ needs. Therefore, changing culture demographic could force department stores to have more brands, to suit different cultures. Internal Analysis Value Chain Analysis As support activities, the analysis takes into account general administration, HRM, Technology development and procurement. Even though David Jones is not recognised for having an excellent relationship with its customers, that’s one of the points over which the company watches. In terms of financial services, the company maintains an agreement with American Express for the use of credit cards in its stores (IBISWorld, 2011). The retail industry is responsible for nearly 20% of the jobs in Australia (David Jones, 2012), and David Jones itself employs over 9000 people (IBISWorld, 2011). The company claims to train and retain its employees, which means constant development programs (David Jones, 2012). The activities performed by the HRM department include hiring, remunerating, training, promoting, motivating, etc. Being such a huge retailing company makes it imperative for David Jones to have an efficient use of technology. Managing stocks, mapping sales, purchasing goods, supporting applications and other key activities rely on technology (David Jones, 2012). Besides, the growing of online shopping constitutes a new demand for the company: to offer an online store consistent to customers’ expectations. Turning down an eBay offer for online shopping (Arnott, 2012) is an indication of the company’s own commitment in the field. Procurement here can be faced as a source for economy of scale, since the company runs 37 stores in Australia (David Jones, 2012). Therefore, the model adopted must be of large scale purchasing. The primary activities include partnering with vendors, purchasing goods, managing and distributing inventory, operating stores and marketing and selling. Since David Jones only sells final products, the contact with the brands it sells is of primary importance. It buys from more than 600 suppliers (David Jones, 2012), and one key practice is maintaining partnerships with them. Currently, there are a few deals of exclusive distribution with some key vendors (Outlaw, 2012). Given the company’s size, economy of scale is a key factor on its purchases, making it possible for customers to buy cheaper than they would do in smaller stores. Almost 40% of the company’s sales consist of clothing and footwear (Outlaw, 2012), followed by 13% of electronics and household appliances. The company depends on sales forecast to manage its inventory. More details about how the company deals with these forecasts were not found. David Jones currently invests in the appearance of its stores, what means making them more friendly and attractive to customers, enhancing their experience of buying and reducing the time spent on queues. Since price is the major basis of competition in that industry (Outlaw, 2012), David Jones needs to watch over this point. Other factors are location of the stores (in this case, stores are very well located), brands offered (usually well-known brands) and promotion (Outlaw, 2012). Resources and Capabilities David Jones uses the resources and capabilities that they possess to allow them to maintain its current market share in the department store industry and also provides them with the necessary competitive advantage to continue advancing in the industry. However, resources alone are not necessarily sustainable competitive advantage and must possess four attributes, which are rare, valuable, inimitable, and possess no equivalent substitutes (Dess, Eisner amp; Lumpkin, 2009). David Jones’s primary sustainable competitive advantage comes from its large store base and store locations, with over 37 stores in major areas all across Australia (David Jones Limited, 2012). David Jones stores are situated in areas with high flow of traffic such as in larger shopping complex and within the central business district. These locations are costly to hold and act as barriers to entry for potential entrants in the market as competitors would require a large amount of capital cost to be able to compete, making it an inimitable resource. Aside from that, David Jones also bought two major city properties in Melbourne and in Sydney rather than leasing them which is another advantage as Myers continues to pay rent for those similar store locations (Bartholomuesz, 2010). Not only does David Jones save on costs over time, they are also able to invest more into the property or choose to sell the property for a large sum should the need rise. David Jones also places an emphasis on partnerships with different companies to improve their operations in their business. In the fiscal year of 2011, it is shown that David Jones’ online store only contributed only 0. 2% of total sales in a time where recent studies show that about 78% of Australian consumers expect to be able to use technology as a part of their shopping experience (Philips, 2012). Hence, David Jones is partnering with IBM to improve their online presence. IBM provides David Jones with an end-to-end multi-channel e-commerce platform to facilitate a consistent experience across all store mediums. This provides a substantial competitive advantage as there is no dominant online retailer in the Australian market yet (Philips, 2012). This gives David Jones the first-mover advantage, where a company attains an advantage associated with higher profit margins or increased market share by introducing a new process or product before their competitors (Kerin, Varadarajan, amp; Peterson, 1992). They are able to solidify their position in the online market by providing physical and digital integration for a sustainable competitive advantage. To ensure that they are able to maintain their market share, David Jones utilises loyalty programmes to encourage customer spending. David Jones has its own loyalty programme which is focused mainly on its own David Jones Storecard and David Jones American Express Card. David Jones encourages customers to join by providing benefits such as deferred payment options, invitation to events and also instant rewards (David Jones Limited, 2012). One differentiating factor of David Jones’ loyalty programme from major competitors such as, Myers is the partnership with Qantas to provide cardholders with frequent flyer rewards that is given only when card holders use the storecard when making purchases (Reilly, 2012). This not only creates switching costs for customers, but also makes it difficult for new entrants to imitate due to the partnership. Unfortunately, Myers also possesses similar offerings and is an easy substitute for the consumer base. Therefore, loyalty programmes only provide David Jones with a temporary competitive advantage if no further points of differentiation are created. Finally, David Jones also focuses on developing and training service staff to enhance their service to customers. In a similar fashion to Apple in-store service, David Jones has recently hired 200 more service staff to act as personal sales assistant and advisor to customers, with the goal of offsetting the poor image of customer service currently held by consumers (Stafford, 2012). This service is a powerful source of differentiation as the staff training is costly and difficult to be emulated by competitors. However, considering trends of consumers spending more time with online shopping it is unclear whether personalised sales services will benefit David Jones in the long run (Stafford, 2012). Sticking too closely to the past, might make this a strategic rigidity and will not provide any advantages. Therefore, this should be viewed as a temporary competitive advantage. Conclusion In conclusion, David Jones is an Australian based company that operates with 37 store outlets across major states in Australia. The department store industry is mainly dominated by large players with other smaller firms competing. The industry is concluded to be relatively attractive using the Porter’s five forces model. The changing demographic and technology alongside economic and political challenges influence David Jones to act accordingly to remain competitive. David Jones uses activities like human resource management and supply chain management to add value to the products sold. Finally, David Jones possesses a wide array of resources and capabilities, but only some may be considered sustainable competitive advantage. References Arnott, G. (2012). David Jones snubs eBay. Retrieved from http://www. powerretail. com. au/multichannel/david-jones-snubs-ebay Australian Bureau of Statistics. (2008). Population Projections, Australia, 2006 to 2101. Retrieved from, http://www. abs. gov. au/Ausstats/[emailprotected] nsf/mf/3222. 0 Bartholomuesz, S. (2010). Property could be the Difference Between David Jones and Myer: Bartholomeusz. Retrieved from, http://www. smartcompany. com. au/retail/20100923-property-could-be-the-difference-between-david-jones-and-myer-bartholomeusz. html Campbell, P. (2012). IBM David Jones Essay Example David Jones Essay Executive summary David Jones Limited is an Australian based department store chain that was founded by David Jones in the year 1838. Currently, the company has about 37 stores located in most Australian states and territories. The Australian department store industry is mostly dominated by large players which are David Jones and Myers, alongside smaller and independent companies. The report analyses David Jones’s external environment using Porter’s Five Forces model alongside the PEST model. The industry does not possess major threat from new entrants due to strong barriers to entry and strong competition for retail space. There is also a strong rivalry between competitors as limited space is being contested by major players alongside competing sales events meant to attract new customers. Online shopping is the most significant substitute for David Jones but is not as threatening as the hand on experience is not replicable by online shopping. Buyers or consumers possess a moderate amount of power as consumers are more careful of expenditure after the GFC and with the strong Australian currency, they can afford to purchase cheaper imported products. Supplier power is split in two, where more popular brands possess high power as they can choose whether to supply or not while smaller companies have considerably less as they depend on department stores to gain awareness and momentum. With the PEST model, it is shown that the department store industry is expected to show only a small amount of growth due to lack of confidence and increased spending. Also, government legislation is increasing David Jones’s fixed cost for operating by increasing employee wages, electricity bills and taxation. We will write a custom essay sample on David Jones specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on David Jones specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on David Jones specifically for you FOR ONLY $16.38 $13.9/page Hire Writer However modern technologies used such as Radio-Frequency Identification (RFID) can help reduce expense and achieve high performance. Increasing population, increasing importance of sustainability and also increasing multi-cultural growth, forces David Jones to adapt to satisfy these different needs and demands. The internal environment of David Jones is analysed using the value chain analysis and also analysing their resources and capabilities. The value chain analysis focuses on general management, HRM, technology development and procurement. David Jones provides financial services with an agreement with American Express via the use of credit cards. They also train and retain its over 9000 employees through constant development programs managed by their HRM department. David Jones focuses heavily on technology to manage their activities revolving around their products such as managing inventory levels and procurement. David Jones faces economies of scale when it comes to procurement as they possess multiple stores and tend to buy in bulk and also allowing products to be sold cheaper compared to smaller, independent stores. David Jones also focuses on partnerships with brands as they only sell final products, making contact with brands important so as to ensure exclusive distribution. Heavy investment is also placed into maintaining and improving store appearance to ensure the best consumer experience. In terms of resources and capabilities, David Jones possesses a few resources that build sustainable competitive advantage. The first major one is David Jones store locations as they are rare and hard to imitate due to the high cost and lack of availability. David Jones is also moving into the online market with a partnership with IBM to help improve online integration and give them a first mover advantage over Myers. Though the loyalty program employed by David Jones   contains points of differentiation, it is easily copied by Myers as the offerings are similar making it a temporary sustainable advantage at best. Improving service staff to act customer sales advisors may be a powerful source of differentiation, but as consumers are more tech savvy, this may become a strategic rigidity and is therefore viewed as a temporary competitive advantage. Industry Analysis Australian Department Store industry is a highly concentrated industry, with the big 4 companies account for over 80% of the market shares (Outlaw, 2012). New South Wales, Victoria and Queensland are the regions contributing over 75% of the 18. 9 billion industry revenue. Westfarmers (Target and Kmart) and Woolworths (BigW) are the two largest companies competing on low-cost strategies (Porter, 1980). Myers and David Jones, holding 15. 3% and 10. 5% market shares respectively (Figure 1), compete on differentiated strategies targeting the upper consumer market (Porter, 1980). Over 10% of the total working population are employed in this industry (Productivity Commission, 2011). In recent years, department stores industry has contracted since the hit of Global Financial Crisis creating shock on consumers’ confidence (Figure 2), despite Australia’s narrow escape from going into recession (Uren, 2009). As a result, the marginal propensity skyrocketed after GFC effect hit the economy from nearly mere 3% in mid-2007 to 12% in late-2008 (Figure 3). To stimulate the economy, RBA employs monetary policy by continuously lower cash rate since 2011 (RBA, 2012). Although 2012 has seen some increase in the industry revenue, IBISWorld predicted continuous decline until 2014 (Outlaw, 2012). David Jones announced in its ASX Release 40% decline in profit-after-tax in 2012 is expected, partly associated with costs involved in its new strategic initiatives (David Jones, 2012). Myer, David Jones’ closest competitors, experienced decreased total sales of 3. % and stated in the annual report that sales were disappointing due to challenging retail environment (Myer, 2011). Major retail chains, such as Zara and Gap, intensify the industry competition by opening their own branches in Australia (Productivity Commission, 2011). David Jones has 37 branches operating across Australia, except Northern Territory and Tasmania (David Jones, 2012). Sales revenue for David Jones was AUD2 billion in 2011, a 4% drop from previous year (David Jones, 20 11). The decline in sales revenue is expected for the income year ending 2012, despite reopening of its Melbourne CBD stores after 3 years redevelopment late 2011 (David Jones, 2012). As part of its ‘growing store network strategy’, two new branches in Highpoint (VIC) and Indooroopilly (QLD) has commenced construction and are due to open in 2013 and 2014 respectively (David Jones, 2012). Furthermore, it is planning to replicate the successful branch operation to the new stores and promised to build on its core strength. Figure 2: Consumer Sentiment Index Figure 3: Household Marginal Propensity to Save External Analysis Porter’s Five Forces New Entrants (low) Australia’s growing population attract new entrants to the market trying to capture the potential growth, as depicted by UK investment fund offer to overtake David Jones (Harper, 2012). However, the barrier to entry from the current major competitor is exceptionally high. The high industry concentration, with David Jones and Myers being the main players, are equipped with the funding allowing them to start price war blocking any interested entrants. As the industry is dependent on the population demography, all medium to high density regions are equipped with either Myers or David Jones (David Jones, 2012. Myer, 2012). It is more than likely that one will often find both stores located adjacent to each other. This limits the space available for new entrants as existing competitors are competing for such retail space. Thus, threat of new entrants is low. Rivalry (high) Rivalry among the department store industry has been increasing since 1980s, with major players have outlets throughout Australia both metropolitan and country areas. In order to operate efficiently and effectively, both large retail space and high volume traffic is required (Outlaw, 2012). Such space is rare, and every player is competing for it. Wide range of products and services is required as consumers are becoming more time sensitive (Drake, 2009). Sale events are often used as tools to attract consumers into their department stores, further emphasis the high competition in the industry. David Jones is competing for the higher segment than Kmart or BigW, hence must differentiated itself in non-price form as evident from its store decorations. Other formed of differentiation are value added products like own label credit card. With major retail chain, such as Zara, now operating independently in Australia, has increased the level of rivalry and threaten the existing retailers with their effective vertical integration allowing them to operate efficiently and quick stock turnover (Productivity Commission, 2011). Threat of substitute (low) The most significant form of substitute is online shopping which has become increasing legitimate form of shopping. With Amazon and eBay being the dominant player in the online industry, they are providing very wide range of goods and services on the online platform, allowing customers to browse products without limit on its location and range. However, they are not a major concern for the industry as consumers expected to have their hand on the products before making purchases especially in apparels retail. The current players are shielding themselves be offering online purchase services, with the growing trend to increase their online stock (David Jones, 2012). Niche market retailers posed as potential substitute for David Jones. However, they have little impact as David Jones captures the larger market. Power of buyers (consumers) (medium) Consumer spending drops as they become more price cautious after the post-global financial crisis, placing constraints on the David Jones and Myers (Productivity Commission, 2011). Intense rivalry among department stores has empowered buyers to enjoy vast savings as each strives to attract consumers into their stores. The strong dollar places challenge on domestic retailers as imports become relatively cheaper. David Jones need to work harder to attract customers to move out of the lower price alternatives, not only through enhanced shopping experienced but also through partnerships with AMEX and Quantas (Reilly, 2012). Power of Suppliers (medium) Retails such as Myers and David Jones, to some degree, depend on their supplier product line. One key aspect of differentiation strategy is get well-recognised brands to be selling exclusively at their stores. These power brands have relatively high power over David Jones, as demanded by consumers. Without them, consumers will go elsewhere where greater product selections are available. On the other hand, other minor brands require shop from, and David Jones can provide them with shop front across Australia. These manufacturers depend on David Jones for their shop front, hence David Jones has power over them. This interdependent relationship results in medium power of suppliers in general, as some may have higher bargaining power while others have less. Macro-environmental Forces Economic condition Although the global economy had started recovering from the global financial crisis, Australian retail industry is not completely unaffected. With an increased saving ratio, the industry was forecasted to only slightly climb up 0. 5% in this financial year, as Australian consumers do not have strong confidence in the market (IBISWorld, 2012). The declining consumer disposable income could lead to decrease in retail sales revenue. It had been found that David Jones’ profit went down by roughly 15 per cent with a drop of 8. 3 per cent in Consumer Sentiment (Appliance Retailer, 2011). Under this environment, consumers probably prefer discount goods instead of high-end products. Figure 1: Sales of David Jones for the past 5 years Political and legal Early 2010, the government introduced the New Modern Retail Award and the award has influenced the industry in many ways. For example, the employers have to pay double wages to employees if they work on Sundays (IBISWorld, 2012). In addition, an up to 19% jump of the electricity bill could be imposed on large retailers due to the government implemented carbon-tax (Renewable Energy News, 2012). Definitely, an increase in taxation would not only increase retailers’ fixed cost, but also increase consumers’ living cost and decrease their disposable income. Indeed, the power which comes from the government has great influence on the retail industry. Technological Retailers are able to cut expenses and achieve high performance because of advanced technologies that were broadly used in managing inventory and customer-relationship. Bar codes, EFTPOS and Radio-frequency identification (RFID) are the three most common instruments used in retail industry (IBISWorld, 2012). For instance, RFID could allow retailers to improve logistic efficiency by identifying accurate stock level, to reducing labour costs and preventing theft and theft. As the number of Internet users increased sharply from 6 million in year 2000 to   17 million in year 2010 (Internet World Stats, 2010), Internet shopping has become a trend among Australians. The development of transportation and secure online payment systems, like Paypal, made online shopping more attractive. Most department stores had built up websites, which support online shopping. Nonetheless, David Jones’ online shopping service might be still in the infant stage because of insufficient investment in technology (Bamp;T Magazine, 2012). Demographic Australias estimated resident population expects the Australian population would increase to between 30. 9 and 42. 5 million, which could be at least 1. 5 times to 2 times of today, by year 2056 (ABS, 2008). The demand of normal goods tends to keep growing. In other words, the department store could have broader development space. Socio-cultural As the population realized the significance of environmental sustainability, most department stores have implemented the idea of â€Å"sustainable environment† in their company policy. David Jones’ environment policy aims to operate and manage the company in a sustainable manner, such as reducing electricity consumption, promoting reusable shopping bags and building environmentally- sustainable stores (David Jones). Furthermore, growing number of immigrant have led Australia to be a multi-cultural nation. The Australian Bureau of Statistics expected that net the number of overseas migrants would grow instantly about 4000 quarterly until 2015 (2012). Culture diversity could change the original supply chain of department store in order to meet the new immigrants’ needs. Therefore, changing culture demographic could force department stores to have more brands, to suit different cultures. Internal Analysis Value Chain Analysis As support activities, the analysis takes into account general administration, HRM, Technology development and procurement. Even though David Jones is not recognised for having an excellent relationship with its customers, that’s one of the points over which the company watches. In terms of financial services, the company maintains an agreement with American Express for the use of credit cards in its stores (IBISWorld, 2011). The retail industry is responsible for nearly 20% of the jobs in Australia (David Jones, 2012), and David Jones itself employs over 9000 people (IBISWorld, 2011). The company claims to train and retain its employees, which means constant development programs (David Jones, 2012). The activities performed by the HRM department include hiring, remunerating, training, promoting, motivating, etc. Being such a huge retailing company makes it imperative for David Jones to have an efficient use of technology. Managing stocks, mapping sales, purchasing goods, supporting applications and other key activities rely on technology (David Jones, 2012). Besides, the growing of online shopping constitutes a new demand for the company: to offer an online store consistent to customers’ expectations. Turning down an eBay offer for online shopping (Arnott, 2012) is an indication of the company’s own commitment in the field. Procurement here can be faced as a source for economy of scale, since the company runs 37 stores in Australia (David Jones, 2012). Therefore, the model adopted must be of large scale purchasing. The primary activities include partnering with vendors, purchasing goods, managing and distributing inventory, operating stores and marketing and selling. Since David Jones only sells final products, the contact with the brands it sells is of primary importance. It buys from more than 600 suppliers (David Jones, 2012), and one key practice is maintaining partnerships with them. Currently, there are a few deals of exclusive distribution with some key vendors (Outlaw, 2012). Given the company’s size, economy of scale is a key factor on its purchases, making it possible for customers to buy cheaper than they would do in smaller stores. Almost 40% of the company’s sales consist of clothing and footwear (Outlaw, 2012), followed by 13% of electronics and household appliances. The company depends on sales forecast to manage its inventory. More details about how the company deals with these forecasts were not found. David Jones currently invests in the appearance of its stores, what means making them more friendly and attractive to customers, enhancing their experience of buying and reducing the time spent on queues. Since price is the major basis of competition in that industry (Outlaw, 2012), David Jones needs to watch over this point. Other factors are location of the stores (in this case, stores are very well located), brands offered (usually well-known brands) and promotion (Outlaw, 2012). Resources and Capabilities David Jones uses the resources and capabilities that they possess to allow them to maintain its current market share in the department store industry and also provides them with the necessary competitive advantage to continue advancing in the industry. However, resources alone are not necessarily sustainable competitive advantage and must possess four attributes, which are rare, valuable, inimitable, and possess no equivalent substitutes (Dess, Eisner ;amp; Lumpkin, 2009). David Jones’s primary sustainable competitive advantage comes from its large store base and store locations, with over 37 stores in major areas all across Australia (David Jones Limited, 2012). David Jones stores are situated in areas with high flow of traffic such as in larger shopping complex and within the central business district. These locations are costly to hold and act as barriers to entry for potential entrants in the market as competitors would require a large amount of capital cost to be able to compete, making it an inimitable resource. Aside from that, David Jones also bought two major city properties in Melbourne and in Sydney rather than leasing them which is another advantage as Myers continues to pay rent for those similar store locations (Bartholomuesz, 2010). Not only does David Jones save on costs over time, they are also able to invest more into the property or choose to sell the property for a large sum should the need rise. David Jones also places an emphasis on partnerships with different companies to improve their operations in their business. In the fiscal year of 2011, it is shown that David Jones’ online store only contributed only 0. 2% of total sales in a time where recent studies show that about 78% of Australian consumers expect to be able to use technology as a part of their shopping experience (Philips, 2012). Hence, David Jones is partnering with IBM to improve their online presence. IBM provides David Jones with an end-to-end multi-channel e-commerce platform to facilitate a consistent experience across all store mediums. This provides a substantial competitive advantage as there is no dominant online retailer in the Australian market yet (Philips, 2012). This gives David Jones the first-mover advantage, where a company attains an advantage associated with higher profit margins or increased market share by introducing a new process or product before their competitors (Kerin, Varadarajan, ;amp; Peterson, 1992). They are able to solidify their position in the online market by providing physical and digital integration for a sustainable competitive advantage. To ensure that they are able to maintain their market share, David Jones utilises loyalty programmes to encourage customer spending. David Jones has its own loyalty programme which is focused mainly on its own David Jones Storecard and David Jones American Express Card. David Jones encourages customers to join by providing benefits such as deferred payment options, invitation to events and also instant rewards (David Jones Limited, 2012). One differentiating factor of David Jones’ loyalty programme from major competitors such as, Myers is the partnership with Qantas to provide cardholders with frequent flyer rewards that is given only when card holders use the storecard when making purchases (Reilly, 2012). This not only creates switching costs for customers, but also makes it difficult for new entrants to imitate due to the partnership. Unfortunately, Myers also possesses similar offerings and is an easy substitute for the consumer base. Therefore, loyalty programmes only provide David Jones with a temporary competitive advantage if no further points of differentiation are created. Finally, David Jones also focuses on developing and training service staff to enhance their service to customers. In a similar fashion to Apple in-store service, David Jones has recently hired 200 more service staff to act as personal sales assistant and advisor to customers, with the goal of offsetting the poor image of customer service currently held by consumers (Stafford, 2012). This service is a powerful source of differentiation as the staff training is costly and difficult to be emulated by competitors. However, considering trends of consumers spending more time with online shopping it is unclear whether personalised sales services will benefit David Jones in the long run (Stafford, 2012). Sticking too closely to the past, might make this a strategic rigidity and will not provide any advantages. Therefore, this should be viewed as a temporary competitive advantage. Conclusion In conclusion, David Jones is an Australian based company that operates with 37 store outlets across major states in Australia. The department store industry is mainly dominated by large players with other smaller firms competing. The industry is concluded to be relatively attractive using the Porter’s five forces model. The changing demographic and technology alongside economic and political challenges influence David Jones to act accordingly to remain competitive. David Jones uses activities like human resource management and supply chain management to add value to the products sold. Finally, David Jones possesses a wide array of resources and capabilities, but only some may be considered sustainable competitive advantage. References Arnott, G. (2012). David Jones snubs eBay. Retrieved from http://www. powerretail. com. au/multichannel/david-jones-snubs-ebay Australian Bureau of Statistics. (2008). Population Projections, Australia, 2006 to 2101. Retrieved from, http://www. abs. gov. au/Ausstats/[emailprotected] nsf/mf/3222. 0 Bartholomuesz, S. (2010). Property could be the Difference Between David Jones and Myer: Bartholomeusz. Retrieved from, http://www. smartcompany. com. au/retail/20100923-property-could-be-the-difference-between-david-jones-and-myer-bartholomeusz. html Campbell, P. (2012). IBM

Life In New France essays

Life In New France essays The St. Lawerence was the largest river and most important river in New France. There were three cities in New France Quebec, Montreal, and Trois Riveriers. People depended on rivers and lakes for transportation. In warm weather they traveled by canoe, larger boats, or on rafts with sails. In wintertime they traveled by horse and sleigh on the frozen rivers. The French brought their customs and culture to New France and it became the way of life. All the land was owned by the king but was given to the seigneur to divide and give to the habitants. The seigneur would build a large house for him but he had to supply the habitants with church and a mill so the habitants could grind grain into flour. The habitants did not own the land but they were allowed to stay as long as they paid their dues. The people of New France had to produce their own food. The people of New France ate lots o meat from farm animals and also wild animals. They also grew trees that bare fruit. Most of their meals had milk or cheese. Their favorite foods were pies tourtiere and the wild game pie. In the early days in New France clothing was made from animal hides or from woven linen or hemp. Linen and hump came from plants that grew in New France. It was lined with leather or fur for warmth. Later on the habitants started to raise sheep. So the woman spun the wool to make clothes for them. Wool was very warm. They wore caps or bonnets on their heads. The cap was made with wool. Men wore leather breeches and leather jackets. The men and woman would ware moccasins to keep their feet warm. Children wore the same line of clothing like adults. The houses in New France usually had stone foundations. Houses in the 1600s were square-cut timbers. A cement-like substance called mortar filled spaces of the house. A house built in the ...

The connecting rod for a typical passenger car engine Essay

The connecting rod for a typical passenger car engine - Essay Example . During the casting or forging stage, the purpose should be to observe closer weight tolerances with improved balance weight.PM is the better choice in the material to be used for connecting rods, as it ensures closer weight tolerances and it is the best as far as the weight reduction objectives are concerned. This results in reduced machining time as well. This also eliminates, in most of the cases the weight balancing operation. While â€Å"squeeze casting† can give the advantages of both, forging and casting processes, below is a table giving the properties and application of various types of Cast Irons. The machining procedure for the manufacture of connecting rods usually is based on the following pattern. †¢ Rough grinding of faces Any grinder or a grinding machine, for removing the excess material acumulated during forging or casting operation, can do this operation. †¢ Machining of piston pin bore. The piston pin bore is taken as the reference hole for the connecting rod. Therefore, the final machining of the piston pin bore is required. Special honing machines can further hone the bore. †¢ Milling and broaching of faces at the end of crank bore This is an important operation, as the crank bore end has to match with the connecting rod end. Specialized milling and broaching machines are used for this purpose.

The difficulties that Indian learners might have in American's Essay

The difficulties that Indian learners might have in American's classroom to learn English - Essay Example Similarly, most of the languages in India have no difference between writing and pronunciation and this can result in confusion among the Indian learners in American classrooms. Thesis statement: The Indian learners in American classrooms face a number of difficulties because Indian languages (first language) alter the learner’s accent, there are differences in word order, sentence structures, sound systems, pronunciation, and these can affect the process of learning English. One can see that first language deeply influences a learner because the process of acquisition of the same is natural. Within this scenario, the first language determines a learner’s accent, and the same is related to dialectical differences within any language. For instance, if an Indian learner’s mother tongue is Hindi, his/her accent will be different from those who use English as their first language. If the Indian learner migrates to America and start learning English, the influence of first language (say, Hindi or other regional languages in India) may hinder him/her from following the native speaker’s accent in English. Shilpa S. Dave stated that, â€Å"For Asian Americans, accent is another way of pointing out that difference is a socially nuanced and a socially constructed reality† (5). If the Indian learner is totally exposed to English, he/she can easily escape from the influence of first language and can improve his/her accent related to the t arget language (English). To be specific, there are hundreds of different languages and variations of the same in India. Besides, the word order within the sentences in these languages is entirely different from English. An Indian learner is totally exposed to this word order and regularly applies it in writing and conversation. Tej K Bhatia stated that, â€Å"The order of words in a Hindi sentence is not as rigidly fixed as it is thought to be by

Gay Marriage Journal Essay Example | Topics and Well Written Essays - 500 words

Gay Marriage Journal - Essay Example ce same sex couples can prove to be better parents than opposite sex couples, as is suggested by Judith Stacey and Timothy Biblarz (as cited in Cooke, 2012, par.2). Family instability may take its toll on normal psychological development of children of both straight and same-sex couples, and so, it is not true that only gay parents prove to be bad parents by any means. They may prove to be better parents. Stacey and Biblarz argue that two men or women can raise kids better in terms of sexual growth, than a man or a woman in a traditional home setting. Kids of gay couples do not have to see one of their parents involved in extra-marital affairs. They do not have to see their moms and dads fighting with each other every day. Kids pay little attention to what the relationship between their parents is, or whether or not their relationship relates to societal norms or not. All they want is love, of parents towards them and also towards each other. So, the relationship between parents has nothing to do with children becoming homo- or hetero-sexual. Thus, gay marriages should be legalized without getting concerned about the parenting capabilities of the couples involved. Normandin (2011) argues that gay marriages should be banned because there is no interest or benefit attached to it that should be sufficient for its justification. He argues, with the support of scientific research, that the absence of one of the two sexes as parents is very detrimental for healthy mental and physical growth of children. In case of lesbian marriage, the absence of a biological father results in early sexual activity and adolescent misbehavior in children, since the role of father in children’s activities and mental and social health cannot be denied. In the same way, in case of gay marriages, the absence of a mother takes its toll on the development of young children, as fathers cannot respond to the needs of infants as mothers can. Hence, the absence of either a mother or father is

The Effect Of Government Expenditure Economics Essay

The Effect Of Government Expenditure Economics Essay Pakistan stood categorized in the sixties by high rates of growth and it was widely believed that this exclusive preoccupation with growth had resulted in concentration of income in a few rich families. It has been argued that the manufacturing sector received favorable treatment at the hands of government policy thereby redistributing income from agriculture to industrial sector through over-valued exchange rate for industrial Sector, provision of cheap credit, liberal import of capital goods at below equilibrium cost of capital. The relationship between government expenditure and economic growth has continued to generate series of debate among scholars. Government performs two functions- protection (and security) and provisions of certain public goods Protection function consist of the creation of rule of law and enforcement of property rights. This helps to minimize risks of criminality, protect life and property, and the nation from external aggression. Under the provisions of pu blic goods are defense, roads, education, health, and power, to mention few. Some scholars argue that increase in government expenditure on socio-economic and physical infrastructures encourages economic growth. For example, government expenditure on health and education raises the productivity of labor and increase the growth of national output. Similarly, expenditure on infrastructure such as roads, communications, power, etc, reduces production costs, increases private sector investment and profitability of firms, thus fostering economic growth. However, some scholars did not support the claim that increasing government expenditure promotes economic growth, instead they assert that higher government expenditure may slowdown overall performance of the economy. For instance, in an attempt to finance rising expenditure, government may increase taxes and/or borrowing. Higher income tax discourages individual from working for long hours or even searching for jobs. This in turn reduces income and aggregate demand. In the same vein, higher profit tax tends to increase production costs and reduce investment expenditure as well as profitability of firms. Moreover, if government increases borrowing (especially from the banks) in order to finance its expenditure, it will compete (crowds-out) away the private sector, thus reducing private investment. Furthermore, in a bid to score cheap popularity and ensure that they continue to remain in power, politicians and governments officials sometimes increase expenditure and investment in unproductive projects or in goods that the private sector can produce more efficiently. Thus, government activity sometimes produces misallocation of resources and impedes the growth of national economy. Public Finance is to provide information to all arms of government in other to provide useful data as done for the developed nations that transferred Pubic Finance technology to developing countries. However, the public finance technological transfer has not been used in developing countries to develop their economies. One of the assumptions might have been due to culture mingled with public finance information made available to policy makers. The realities have been x-rayed by public finance and practices. Thus, ID omen citied the following: Economic growth represents the expansion of a countrys potential GDP or output. 2. OBJECTIVE: 1. Short run relationship between government expenditure and economic growth of Pakistan. 2. Long run relationship between government expenditure and economic growth of Pakistan. 3. LITERATURE REVIEW: Ranjan KD, Sharma C Examined the effect of government development expenditure on economic growth during the period 1950-2007. The authors discovered a significant positive impact of government expenditure on economic growth. They also reported the existence of co integration among the variables. Easterly and Rebelo (2009) find that public investment in transport and communications in developing countries leads to higher economic growth. Abdullah HA, 2000 analyzed the relationship between government expenditure and economic growth. The author reported that the size of government is very important in the performance of economy. He advised that government should increase its spending on Infrastructure, social and economic activities. In addition, government should encourage and support the private sector to accelerate economic growth. Ogiogio GO Revealed a long-term relationship between government expenditure and economic growth. Moreover, the authors findings showed that recurrent expenditure exerts more influence than capital expenditure on growth. On empirical research using panel data, one can cite (among others) the papers by Devarajan et al. (1996) henceforth DSZ and Gupta et al. (2005) On the composition of government expenditure and growth for a sample of developing countries. DSZ found a negative (positive) and significant relationship between the capital (current) component of public expenditure and per capita real GDP growth for 43 countries over the period 1970-1990, while Gupta et al. (2005) found quite the reverse for 39 countries between 1990 and 2000. Lee et al. (2009), commenting on Islam (2009), observe that slope heterogeneity, even when random, causes major difficulties for estimation in dynamic panels. They contend that potential heterogeneity in growth rates of different countries renders the standard fixed effects panel estimator to be biased. Given the importance of slope heterogeneity as an econometric issue (see, among others, Baltagi (1995), and Pesaran and Smith (1995), we extend the methodology implemented by DSZ by explicitly modelling the potential cross-country heterogeneity in capital and current expenditure. The fixed effects panel estimator used in DSZ assumes that all the slope coefficients, adjustment dynamics and error variances are invariant across all countries. However, these assumptions are unlikely to hold, because countries are not unanimous in their views on the role of government expenditure in fostering growth, and this largely depends on the political stance of the party in power. The importance assigned to capital and current expenditures, i.e., the 1 commitment to spend on viable long-term capital projects vis-a-vis the spending on recurrent types of expenditure like wages and salaries, subsidies and pension arrangements, also vary across countries. The potential cross-country variations in the parameters of the level and composition of public expenditure are consequently modelled as a linear function of country-specific levels of current and capital spending in this paper. Wagner says, (1999:46) That there is a positive relationship between the per capital income of the citizens in a country with government spending such that the income elasticity of government expenditure is always greater than one. However, other researchers have discovered that the relationship is not always certain because there are periods when government expenditure in relations to the national income will decline when the elasticity of income to government expenditure is less than one. Ram Rati (1986) concluded that overall impact of government size and government expenditures on growth is positive. Rostow Musgrave model (1999:46) carried out a research on growth of public expenditure and concluded that, at the early stages of economic development, the rate of growth of public expenditure will be very high because government provides the basic infrastructural facilities (social overheads) and most of these projects are capital intensive, therefore, the spending of the government will increase steadily. The investment in education, health, roads, electricity, water supply are necessities that can launch the economy from the practitioner stage to the take off stage of economic development, making government to spend and increasing amount with time in order to develop an egalitarian society. To illustrate, models with varieties of capital goods is related to technological process corresponds to an expansion of the number of capital goods, the production function Barros (1979) Tax-smoothing hypothesis says that, if the marginal cost of raising tax revenue is increasing the optimal tax rate is a martingale. This implies that changes in the tax rate will be permanent and, given their different effects on growth, under the two types of growth models, very useful in empirically distinguishing between the exogenous and endogenous models. THEORETICAL BACKGROUND: According to the Keynesian there is increase in government expenditure, the country will grow, holding other things constant. Y = C + I + G+ (X-M ) Y = GDP C=consumption I= Investment (X-M)=Net exports 4. DATA AND METHODOLOGY: Data is collected on annual basis from the year 1972 to 2008 from various issues of economic survey of Pakistan and IFS (International Financial statistics) for GDP and government expenditure. That is converted into growth form. Oxmatrics software is used for estimation. Model: Y=f (GE) Where GE=Government expenditures The model is specified as Y=ÃŽ ±+ ÃŽ ² (GE) +  µ Where GE=Government expenditures  µ=error term Y = GDP growth 5.Estimation technique: Unit root Test: Both series GDP and GE are unit root. AS ADF greater than critical value so we can further proceed for co integration. Regression model: After regression disequilibrium saved the residuals , further test the residuals for stationary , so the residual is stationary it means co integration is exist between GDP and government expenditures. Unit root for disequilibrium: As ADF is less than critical value so the series is stationary and co integration exists. ERROR CORRECTION MODEL: Now check the long run relationship between government expenditures and GDP growth by ECM. This is error correction model Dgdp = + 0.9029*DLgov 0.8551*deq_1 So the value of dis equilibrium is negative and lies between 0 to 1 there exists long run relationship between two variables. 6. Policy implications: The results suggest that the economic growth can be achieved by increasing government expenditures. As we know that increase in government expenditures has also other implications for the economy and this study is limited in scope. So we suggest that government expenditures hike will increase GDP keeping other things constant.

Jill Bolte Taylor’s Stroke of Insight

Report I Title: Jill Bolte Taylor's stroke of insight Link: http://www. ted. com/talks/jill_bolte_taylor_s_powerful_stroke_of_insight. html Speaker: Jill Bolte Taylor Affiliation: http://www. drjilltaylor. com Jill Bolte Taylor is a Harvard-trained and published neuroanatomist who dedicated her career to research into the severe mental illnesses. She had a stroke while she was researching about biological differences between healthy brains and brains of individuals diagnosed with schizophrenia, schizoaffective or bipolar disorder at1996.One of her blood vessel exploded on the left side of her brain and it caused the stroke. In the seminar, she explains her observations about the 4 hour after the stroke as a neuroanatomist. According to her experience she could not able to walk, talk read, write or recall any of her life. In this talk, initially she explains the major functions of the brain with a real human brain. Then she clarifies her stroke according to these functions. She tells the results of her bleeding step by step with examples and helps us to imagine a stroke.After all she finishes her speech with explaining her feelings after she survived and recovered. Beside Jill Bolte Taylor’s stroke of insight video, I watched videos about being happy â€Å"Dan Gilbert asks, Why are we happy? †, about intelligence of plants â€Å"Stefano Mancuso: The roots of plant intelligence† and about brain damages â€Å"VS Ramachandran on your mind†. I generally watched the videos about brain and intelligence because I interested in the human intelligence and brain functions. Mr.Gilbert’s talk showed me the effects of our psychological immune system to be happy, Mr. Mancuso’s talk represented me the intelligence of plants which is similar to animals’ and Mr. Ramachandran’s talk helped me to illustrate the brain functions of human while he was talking about the brain damages. All of these topics were interesting but I mo stly interested in Taylor’s topic because she had a disease which is about her researches and she survived from it without any permanent damage. I liked to hear this neuroanatomy specialist’s own life experiments about brain disease.Favorite quotes and sentences: â€Å"I essentially became an infant in a woman’s body. † â€Å"For those of you who understand computers, our right hemisphere functions like a parallel processor, while our left hemisphere functions like a serial processor. † About Jill Bolte Taylor’s stroke of insight video, I did not understand why and how she felt that she is in nirvana after she woke up after the surgery. I strongly recommend this video to the other students because it is one of the most interesting speech I have ever heard.

Dominican and Italian

Jonathan D. Iulo October 27, 2010 Topic: Comparison Essays My Italian and Dominican families English 105 I come from two different backgrounds which are very similar but different. I chose to write my comparison essay about the Dominican culture which comes from my mother’s side and the Italian culture which is my father’s. Comparing and showing the similarities of both cultures is very interesting since I grew up with both in the house. Both cultures try to keep most of their homeland tradition here in the United States.These include religion, morals and values, customs, language, music, and food. The Italians and the Dominicans are family oriented. The male role such as the father is being the care taker financially and plays an important role in decision making in the house. The men in both cultures are the protectors. Many men in both cultures are said to be jealous, which probably comes from being over protective. They tend to be overprotective of their wifeâ€℠¢s and their daughters. The men is perceived to be the† Macho† in the family and the women are more of a â€Å"delicate† symbol.In both cultures, it is more acceptable for a man to have more than one girlfriend than for a woman. The female role such as the mother is the care giver, the one that soothes you when you are in need and the one that cooks. Women are the ones that hold the family together specially the mother and grandmother. Everyone comes to them for guidance. Women are supposed to preserve themselves for one man, although that is changing. The family always gets together on weekends and holidays. The family is very important and both love to eat.Even though Italians love pasta and Dominicans love their rice and beans; they have the coffee in common. They can drink coffee at breakfast, lunch, and dinner and it’s usually espresso. Both cultures also enjoy bread. They eat bread with coffee, chocolate milk, and food in general. Italians and Dominic ans love gardening. Italians like to produce their own fresh vegetables like zucchini, eggplants, and tomatoes. Dominicans like to plant flowers of many kinds, as well as peppers and cilantro, like my mom.There is a great respect for the mother and the elders. The mothers are the ones that mainly guide you spiritually and you need their approval when it comes to relationships. They both want their children to have an Italian or a Dominican as a future wife or husband. The elders are the keepers of history memories and are the root of the family. The grandparents are usually the ones teaching you the native language, in this case Spanish and Italian. Most Italians and Dominicans are catholic and religion plays an important part in their lives.The special religious events, seasons, and the church in the community are part of the cultural traditions. Thanksgiving, Christmas, and Easter traditions are very special events to both Dominicans and Italians. During these religious holidays t he immediate and extended families get together for church and home festivities. The families enjoy the prayers, food, and music together. Both cultures are very similar and I believe this is one of the reasons my parents and the family get along well and I enjoy being part of both worlds.

Lithification Defined and Explained

Lithification Defined and Explained Lithification is how soft sediments, the end product of erosion, become rigid rock (lithi- means rock in scientific Greek). It begins when sediment, like sand, mud, silt and clay,  is laid down for the last time and becomes gradually buried and compressed under new sediment. Sediments Fresh sediment is usually loose material that is full of open spaces, or pores, filled with air or water. Lithification acts to reduce that pore space and replace it with a solid mineral material. The main processes involved in lithification are compaction and cementation. Compaction involves squeezing the sediment into a smaller volume by packing the sediment particles more closely, by removing water from the pore space (desiccation) or by pressure solution at the points where sediment grains contact each other. Cementation involves filling pore space with solid minerals (usually calcite or quartz) that are deposited from solution or that enable existing sediment grains to grow into the pores. The pore space does not need to be eliminated for lithification to be complete. All of the processes of lithification can continue to modify a rock after it has first become a rigid solid. Diagenesis Lithification occurs entirely within the early stage of diagenesis. Other words that overlap with lithification are induration, consolidation, and petrifaction. Induration covers everything that makes rocks harder, but it extends to materials that are already lithified. Consolidation is a more general term that also applies to the solidification of magma and lava. Petrifaction today refers specifically to the replacement of organic matter with minerals to create fossils, but in the past it was more loosely used to mean lithification. Alternate Spellings: lithifaction

Becoming a Video Game Designer essays

Becoming a Video Game Designer essays It has been 10 years since I became an addicted gamer when I was 11 years old. I always dreamed of designing a game of my own. I have came up with many nice ideas about video games from what I have played and I believed one day my dream will come true. However, the reality was disappointing. My parents were worried about the fact that I spent hours sitting in front of the screen and playing video games. As a result, I had to give up what I wanted to do and chose mathematics as my major. But after watching the video in class I started rethinking about it. Just assuming, what if I chose to be a video game designer? What is needed for it? How can you be a part of it? Also, what is the future of this job? After doing researches, I found that in fact, the video game industry is a multi-billion dollar industry. One person could sit down and make a game from start to finish by himself. Now a game can take millions of dollars and dozens of people to make. However, before deciding on a career in this multi-billion dollar industry, someone must see if he or she has the right type of personality and understands the different types of careers and where the video game industry is headed. Many people don't seem to understand what being a game designer really means. If you randomly ask most gamers, they'll probably tell you the designer is the person in charge of a game's vision. While truth is being a game designer is a lot of work. Usually, a game designer oversees the entire process from art and programming down to things as small as enemy and scene and level design. If someone was thinking about becoming a game designer then he or she should grasp concepts in art, programming as well as production. Being a game designer requires the personality blend of a punk star and a rocket scientist. You have to be able to imagine a virtual world while at the same time have the technical knowledge to make it happen. "Game designers have a good ble...

Econ Assignment Essay Example | Topics and Well Written Essays - 1000 words

Econ Assignment - Essay Example The fall in income earned by the consumers in the U.S. could be viewed as its impact on the current account. It is estimated that almost 10% of every Dollar spent by U.S. customers is on purchase of imported goods (Kaplan) however as the income falls in the U.S. the customers demand for imported goods will surely be affected. As consumers spend less on goods and services the proportion they spend on imports will reduce. The effect would be rising current account surplus and positive balance of payments. If the inflation in the foreign country increases it will have an upward effect on the cost of production in that country and making its exports to the U.S. more expensive than its imports. This suggests that U.S. consumers would end up paying more for imported goods that will provoke them to switch over to less costly goods produced domestically (Kaplan). This can also have a reverse effect on the U.S. exports thereby increasing the current account surplus with that country in the short run till inflation remains comparatively higher in the foreign country. The interest rate fall in the U.S. has its impact on the capital account of the country. The decline in interest rates in the U.S. implies the reduction in the return on savings and relative return in the financial markets of the U.S. This suggests that foreign investors will be reluctant to invest in the financial markets who will be seeking greater returns in other foreign markets. This makes the local financial markets unattractive and may lead to outflow of funds through capital markets. The exchange rate is the relative price of a currency against other currencies. The exchange rate is typically driven by the demand and supply of the currency. As consumers will use less of the local currency due to fall in their income it suggests a lower demand for it as less money will be spent on imported goods and services therefore its supply dampens. The net result is decline in the exchange rate against

How does Being an Outsider Affect Ones Life Assignment

How does Being an Outsider Affect Ones Life - Assignment Example There is a deep sense of insecurity in the mother. She feels the child wants to be like the locals, who stand for authority and have the power to crush little people like her, anytime. She feels that the daughter is rejecting her, to gain acceptance in the new world, of which they are now a part. Immigrants may feel like outsiders, who have to gain acceptance to become a part of their new world. To gain acceptance they will have to give up their own individuality. This gives them a feeling of insecurity and helplessness. At times they may experience a feeling of despair about not having any control over their life and family. Immigrants give up everything to move to another country, so for them, there is a lot at stake. They have nothing to return to if things do not work out, in their new home. This can have a profound effect on their lives because they have to adapt and be successful. Immigrants have to cope with many problems of adaptation. They have to adapt to a new culture that is usually very different from their own. They may have to learn a new language and about how to behave in their new country. They have to learn new skills, to find employment. In The Jade Peony, Choy (1995) highlights the problems faced by immigrants who have very limited knowledge of English and a different accent. They are mocked or ignored by many people and this can be very humiliating for a person, who is trying to adapt to life in a strange land.In The Jade Peony, the teacher Miss Doyle is a very helpful person. She is dedicated to helping her students to learn the English language. She works hard to build their fluency in English while developing their confidence. She tries to teach them values that help to build character. Miss Doyle comes across as a kind person who cares for her students. This shows that there always people who respect the immigrants as human beings and are willing to help them to create a new life, in their new home. In the Canadian Experience, by Clark, we can see how difficult it is for immigrants to make a career in their new country.