Music Industry And Its Influence On Modern Society

In the twenty-first century, we have an abundant variety of music genres, old and new. Music has a versatile role in modern society. Music serves just as many purposes as it possesses in genres. For listeners, music is not simply an escape or form of entertainment; it is a source of inspiration and self-expression. Sometimes, this can be problematic and lead to false identities and music miscegenation. The music industry has had a powerful influence on what listeners consume. In this process, traditional black music genres have crossed over to the mainstream. This has been problematic in that it gives listeners the sense that the music industry is fully integrated. In reality, the white dominated music industry and labels are still using†¦show more content†¦This forged an identity of cultural togetherness as time progressed, but in reality, this was just a new form of cultural appropriation and subjugation. Despite the musical politics in regards to control, black expressio n has voiced itself in the past century. The innovations of jazz and gospel music paved the way for soul, funk, disco, and rhythm blues and then expanded that pathway for rap and hip-hop in the later half of the century. Various innovations such as 12 bar blues and beat matching can be attributed to African-American culture. One genre of music that emerged from African-American roots was disco. Although disco expanded and became popularized in mainstream culture, disco began as an expression of black and Latino power. Disco possesses elements of Afro-Cuban salsa as well as Jamaican dub, reggae, and ska. Disco served as a versatile cultural tool for not only ethnic minorities but also gay rights activism, prior to its adoption by white audiences and artists. There was backlash by white audiences and rock musicians towards black disco artist heard on the radio and this lead to the coined phrase, â€Å"disco sucks.† Disco went on to die by the eve of the eighties, but element s of groove and fast paced beats are still prevalent in today’s popular music. Many of the RB and rock artists who conformed to disco during its popularity returned to their authentic identity

Victims of Police Brutality What would You Do - 2013 Words

What would you or someone you love was a victim of police brutality? Would you report it, fight it, or go on as if nothing happened? Despite research studies proving that the use of police brutality is a part of self-defense for the law enforcement, others opponents disagree on this research and feel they’re abusing their authority and using excessive force. Police brutality has been around for decades. In the 1960’s, African Americans were seeking to declare their rights to vote, march, or enter desegregated school caused conflicts with the white Americans and were trying to deny any Black citizen from joining anything that included white citizens, but because the African Americans knew that violence was not the answer to their†¦show more content†¦The next several day’s riots accumulated in Los Angeles because of the trial. The riot caused 60 deaths, 2,000 injuries, and $1 billion of damage. After the King riots similar police brutality continued in New York City that made major cities headlines. A Haitian immigrant Abner Louima was beaten severely and sodomized with a bathroom plunger by New York Police Department officers that were following his arrest outside of the nightclub. Police detectives shot an unarmed 23 year old immigrant from Guinea because they thought his wallet was a gun, the officers fired 41 shots, hitting the 23 year old 19 times. They were acquitted of all charged, that sparked widespread protests throughout New York City. Since the 90’s the crime rate has fallen but allegations of police brutality has continued. Critics have pointed out that LAPD officers shot and killed 70 percent more than suspects in 2011 than in 2010, even the murder rate in Los Angeles in 2011 had fallen to its lowest rate since 1963. (â€Å"Police Brutality†, Feb.) 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An officer smashed his head through a plate glass window, when Brock refused t o go into the officer’s lunchroom (Police Brutality

Strategic Management Practical Strategy Development

Question: Describe about the Practical strategy development for Strategic Management. Answer: Introduction Topic and Company background Formerly known as Coles Myer Limited, it witnessed its establishment almost a century ago Coles Supermarket Australia Pty Ltd is one of the leading and most consistent retail industries in Australia. The founding father of the Coles chain of supermarkets was George Coles and is considered to be among chief figures in the growth and development of Australian retail industries. Retailing being the family business of Georges and George decided to visit the United States in the 20th century to observe the retail practices of the retail industries based in the United States. Subsequent to the return from the United States, George started its very own retail store in Collingwood on Smith Street at Melbourne (Alexander, 2008). In the year 1985 Coles supermarkets and Myers Emporium merged together and came to be Coles Myer Limited. The Coles Myer Limited was bought out by Wesfarmers in the year 2007 after Myers emerged itself two years prior. At present the company is operating its tradition al business of retailing food products all over the Australian continent. The retail company is the second largest retailing company in Australia after Woolworths Limited. The company makes use of a self-service approach in its retail centres and further caters office and home delivery services. The company operates at 738 retail stores across Australia and grosses over eleven million transactions every week. Coles Australia Supermarkets Pty Ltd has a workforce of 113000 employees who operate at over 2200 retail outlets strewn across Australia (Allio, 2006). Company Mission and vision statement For over a century the company has continued its operation as one of the leading retail brands with its outstanding services to the customer, excellent product quality and promoting high work values among its employees. The company envisages George Coles vision and the efforts he had invested in the development of Australian retail industry, and focuses on taking its operations towards a sustainable future. The prime mission of the company is to: Support the Australian farmers by all means as they are the chief source from whom the company obtains the majority of its products. Form lasting relationships with its clients and business associates, which would result in the overall growth and development of the business (Dholakia, 2015). To bring to its valued customers its best products and services. The vision of the company is to develop their business into a premier retail brand. The company wants to achieve this without affecting its customer goodwill. They are focused on bringing quality products to their customers at affordable prices as they are doing at present. In addition, they are keen on developing the business in a manner so that they are able to support their employees, clients, associates, and other business interests. The company is conscious in regards to the conservationism and focuses sustainable development. Their vision is to create a sense of commitment among their employees and associates which would result in operation that supports sustainability of resources in each and every aspect of their business (Gondra, 2016). Organizational Strategic objectives The organizational objectives set by the company are as under: The company strives to establish itself as the only one of its kind retail brands bringing quality products to its customers at affordable prices. The company focuses on improving their customer responsiveness i.e. the way the customer feels about their products and services. The company wants to establish an efficient communication system across all of its stores and outlets. The company focuses on serving their valued clients with the best services and products. The company is focused on reinstating their customer support services to reach out to the customers in regards to their troubles (Grubb, Lippoldt and Tergeist, 2001). To manage the waste disposal system more efficiently and make its contribution towards preserving the environment. The company focuses on promoting business operations which are eco-friendly and will lead to the transformation of the company into a sustainable retail chain. External Analysis: Consumer and Markets Considerable changes have taken place in regards to the legal and political atmosphere in the last decade, which has taken its toll on the company. The Australian federal government has instated an Australian Competition and Consumer Commission, which has been responsible for the introduction of number changes in the competition policies of the industries. Among these there were legislative changes in regards to tax, production and distribution that have affected the retail industry in considering and formulating its business strategies. Demographic factors At the end of 2012 the population survey analysis in the country marked a 1.8% increase in its urban population. A vast majority of the population is concentrated in the countrys urban centres comprising both the indigenous people and Australian white peoples communities. The analysis further denoted that the majority of the Australian population consisted of youth (Hiriyappa, 2009). This means that the company has to focus on opening up retail centres at these urban centres for the distribution of their products. Furthermore, they should also focus on developing and promoting products that would attract people between the age group of 15-67 years. This is as bulk amount of the population consisting of people between this age group. Technological environment The last decade was a witness to the rapid spur in the technological advancement. More and more people are now relying on technology for their day to day needs. The company should focus on developing their technologies in a manner that their customers are able to reach out to them by means of employing modern technologies like mobile application systems and ecommerce. In addition, the company should also focus, providing support system for their customers and clients, where they would be able to remotely assist the customers and clients remotely and at a short notice regarding their products or delivery services (Jackson, 2006). Socio-cultural factors One of the leading trends in the current socio-cultural environment is that the consumers are more aware of the products they are consuming. Moreover, with the global trend regarding organic food products which are free of preservatives and other chemicals, people have become more and more conscious in regards to the food that are being sold to them. Therefore, in order to meet with the current socio-cultural demands of the people the company has to cater to them food products which are organic and free of preservatives (Richter, 2002). Apart from this, people have become more time conscious and give priority to those services which are able to cater to their needs within the shortest period of time. As the company has home and office delivery facility for its customers they should focus on analysing the demands of their customers and provide them accordingly. Global environment Globalization has bought great strides in the development of businesses. This revolution has not only assisted the businesses in promoting their products and services in the international markets but also has given businesses the opportunity to establish business centres in international markets as well. This means that the company can invest in an international market. For instance, Malaysian market is well reputed for the import and business for Australian fresh and preserved fruits (Sitkin, Cardinal and Bijlsma-Frankema, 2010). Therefore, the company after performing a thorough analysis on the said market may consider promoting their business. PESTEL analysis Political: Till now the business policies of Coles has not met any sort political boundaries, apart from the logistical limitations imposed by the regulations set by the concerned governing body of the particular sector. Economic: Coles has encountered economic obtrusion as a result of the consecutive droughts and the climatic change it brought. Consumers change of preference has also been a factor in this regard. Social: Coles has been responsible for educating their consumers in regards to sustainable sea-food alternatives, and has also been a partner in the 2011 WWF Australias establishment of a sustainable sea-food chain in the country (Ward and Peppard, 2002). Technological: Incorporating self service and self checkouts in their retail outlets has increased customer satisfaction and sped up the shopping process. The four Ps of the company: Product: packaged food and fresh food. Price: affordable prices. Promotions: television and radio short and long term advertisement campaigns along with multimedia promotional activities through social networking sites (Valukonis, 2014). Place: the products are supplied from the major growing regions of the country. The company 24 centres throughout the country for the distribution of fresh and chilled foods. The company further deals out its fresh food products through more 700 supermarkets across the nation. Environmental: With the rapid increase of pressure over the companies in regards to environmental issues and adopting new ways of detailed operations that can benefit the society, Coles is quite dedicated towards reducing its carbon footprint. Coles supermarket has also taken initiative to minimize the waste produced in the stores. Legal: Laws and ethics are also to be maintained by this specific section of work field. How the employee of the organization behave with the customers, if the organization is providing wrong product to the people, or the organization is putting the proper amount of tax to the table of government or anything which violates rules and regulations of the government are maintained by this wing of field. The five Cs of the company: Company: employing over 113000 employees and carrying out operations at over 2200 retail outlets. Customers: common people. Climate: doing well in regards to customer retention, and satisfaction; innovation in regards to marketing and, product strategies, financial capability and ethical work culture. Collaborators: local farmers, shepherds, ranchers, fisheries and bakers are its major collaborators focused on sustainable development. Competitors: Aldi, Woolworths, IGA and several other small and medium retailers. Conclusion The above analysis obviously clarifies the manner on how an organization like Coles supermarkets Australia will be able to maintain their business and also their aim towards developing a sustainable business culture. How the objectives, visions will put an impact on the people of the society, what should be the quality of relation among the management, authority, customers and the employees. Lastly, the strategic plans should be for an organization like Coles supermarkets Australia for their rival organizations, and how the objectives can be fulfilled by them, everything has been classified. References Alexander, C. (2008).Market risk analysis. Chichester, England: Wiley. Allio, M. (2006). Practical strategy development: a wise investment for middle market businesses.Journal of Business Strategy, 27(2), pp.31-42. Dholakia, N. (2015). Marketing as mystification.Marketing Theory. Gondra, A. (2016). Head external analysis, head raising analysis or matching analysis? Let's ask experimental syntax.Lingua. Grubb, D., Lippoldt, D. and Tergeist, P. (2001).Innovations in labour market policies. Paris: Organisation for Economic Co-operation and Development. Hiriyappa, B. (2009).Organizational behavior. New Delhi: New Age International. Jackson, S. (2006). Coping with the PESTEL Factors in Safety and Security.INSIGHT, 8(3), pp.29-31. Jackson, S. (2007). Market share is not enough: why strategic market positioning works.Journal of Business Strategy, 28(1), pp.18-25. Richter, T. (2002).Marketing mix standardisation in international marketing. Frankfurt am Main: Peter Lang. Sitkin, S., Cardinal, L. and Bijlsma-Frankema, K. (2010).Organizational control. Cambridge: Cambridge University Press. Valukonis, M. (2014). CHINA'S STOCK MARKET TRENDS AND THEIR DETERMINANTS ANALYSIS USING MARKET INDICES.ecoman, 18(4). Ward, J. and Peppard, J. (2002).Strategic planning for information systems. Chichester, West Sussex, England: J. Wiley.

The Test Essay Research Paper THE TESTThe free essay sample

The Test Essay, Research Paper THE Trial The Test is a short narrative by Angelica Gibbs which illustrates the issue of power maltreatment, where actions all originate from personal biass and ignorance. The characters ; Marion, the Inspector and Mrs. Ericson represent three different societies which collide and are caught in a state of affairs where there is a victim, a culprit, and a denying, yet guilty looker-on. Representing the first # 8220 ; society # 8221 ; is Marion. Though stereotyped by some ( the Inspector ) as being an ignorant and uneducated black adult female, who is expected to be illiterate, married and to come from the South. In this narrative, Marion proves these racialist premises to be incorrect, and in bend, shows that she is an single. Marion understands, and is to the full cognizant of the bias that nescient white Americans have about her, and the unjust manner they treat her, due to her sex, race, and the coloring material of her tegument. This cognition was revealed when she rebuked Mrs. Ericson # 8217 ; s suggestion that she should # 8220 ; steal them a small something # 8221 ; by stating, # 8220 ; No, that would merely do it worse, Mrs. Ericson. I know # 8221 ; . Aware that she is a victim of bias, Marion strives to construct a protective barrier around herself ; disregarding the cruel shot, remarks and actions of others, and concealing her choler, defeat and hurt feelings under a mask and outer outside of unagitated indifference. During the Driving Test, Marion endured the Inspector # 8217 ; s cruel and provoking remarks, and his obvious disdain in her. It was merely when he belittled and laughed at her college grade did Marion # 8217 ; s unagitated outside of indifference break down ; # 8211 ; # 8221 ; I got my college grade last twelvemonth # 8221 ; , Marion said, her voice was non rather steady. # 8211 ; and eventually collapsed wholly as she could command herself no longer, and burst out # 8211 ; # 8220 ; Damn you! # 8221 ; . As she said this, Marion realised that she had failed The Test ; that it was all over, and in the terminal, the Inspector # 8217 ; s power had won. Representing a society of white Americans who feel that their # 8217 ; high quality # 8217 ; gives them the right to utilize their power to mistreat others because they are prejudiced against them, is the Inspector. The Inspector wields his authorization like a whip # 8211 ; striking out whenever he pleases. He is to the full cognizant of his power, and has no vacillation in taking full advantage and control of the state of affairs ; proving and teasing Marion ; stepping over her boundaries, and make bolding her to belie him. In the Inspector # 8217 ; s eyes, Marion represents all nescient # 8216 ; Southern darkies # 8217 ; , and he links and relates all her actions to others of her race ; for illustration # 8211 ; # 8220 ; Turn onto Main Street and allow # 8217 ; s see how you-all does in heavier traffic # 8221 ; . He does non see Marion as an single # 8211 ; and does non trouble oneself to name her by her existent name, but alternatively refers to her as Mandy-Lou, a com mon name give to black native servants/slaves. Upon detecting that the premises he had made about Marion were wrong, and that he had been proven incorrect, the Inspector experiences assorted emotions. He is angered to be made a sap, by a ‘black nobody’ . He is besides covetous of Marion’s college grade, as he might non hold one himself. Last, the Inspector feels threatened ; as to his horror, he comes to gain that he may non be as superior and powerful as he thinks or pretends to be. If the Inspector represents an ugly and open signifier of racism, Mrs. Ericson portrays a non much less racist, but in a more hushed signifier and latent, 3rd society. Mrs. Ericson is a typical illustration of the authoritative white progressive. She is person who regards herself as being tolerant, sensible, and most understanding # 8211 ; particularly towards Marion ; a black adult female. Yet, she refuses to believe that Marion is being judged below the belt by the Inspectors because of their racism towards black people, and alternatively denies and attempts to do alibis for their actions. Marion # 8211 ; # 8220 ; They likely do like it better if a white individual shows up with you # 8221 ; . Mrs. Ericson # 8211 ; # 8221 ; Oh, I don # 8217 ; t believe its that # 8221 ; . Mrs. Ericson merely feels that Marion is being excessively sensitive ; doing excessively large a trade, and conceive ofing all of this, and that she was treated in the same mode as any white female in the same state of affairs. Marion # 8211 ; # 8220 ; I don # 8217 ; t retrieve making all the things the Inspector marked down on my space # 8221 ; . Mrs. Ericson # 8211 ; # 8220 ; Peoples say that they merely want you to steal them a small something # 8221 ; . But what Mrs. Ericson does non gain, or what she won # 8217 ; t let herself to acknowledge, is the fact that if a white adult female and Marion ; a black adult female, were to both # 8217 ; steal them ( the Inspectors ) a small something # 8217 ; , the result to both state of affairss would be wholly different. Mrs. Ericson enjoys holding Marion work for her as a housekeeper and kid minder, and she does non truly desire to assist or help Marion, in seeking to obtain the higher degree of employment that a individual with her high degree of instruction should hold. Mrs. Ericson likes things being the manner they are, and she likely thinks that Marion is soon at her right position in American society. Mrs. Ericson appears to be sort, and generous towards Marion. Yet she is patronizing and complicit. She does non assail the system in which racism and bias has a choking clasp over black Americans, and the ground is merely that she benefits from the apparatus. Therefore, in her ain manner, Mrs. Ericson is in fact about merely every bit racialist as the Inspector, though she would neer convey herself to acknowledge that it is so. But alternatively, hides it under the ness of Patriotism, and White Liberality. In this short narrative, the writer uses three characters as symbols of three separate groups in America. This narrative illustrates the deficiency of power that inkinesss feel, and the racism that they experience ; either in an open signifier such as that of the Inspector, or in the more hushed and latent signifier of the patronizing Mrs. Ericson. This short, yet powerful and meaningful narrative, reveals how incapacitated black people feel ; in a prejudiced and nescient society, where the maltreatment of power can determine their fate.

One basic assumption of Black-Scholes model Essay Example Essay Example

One basic assumption of Black-Scholes model Essay Example Paper One basic assumption of Black-Scholes model Essay Introduction One basic assumption of Black-Scholes model is that the stock price is log-normally distributed with constant volatility. However, in option market, does this assumption hold? In our paper, we try to show how wrong Black-Scholes is by challenging this assumption and illustrate the difference between Black-Scholes and real world. Method used to exam mispricing problem of Black-Scholes model About Mixlognormal: The probability distribution of the stock price might be made up of a mixture of two lognormal distributions, one for the possibility of an increase in share price and the other one of a decrease. In this way, we can capture the empirical distribution of stock price; its shape must be more accurate and accordingly more likely to be the same as the distribution of the company’s share price in the real world. One basic assumption of Black-Scholes model Essay Body Paragraphs (Precisely, if we can employ more lognormal distributions to obtain the possibility for the movement of share price, we would get better distribution to describe real world.) Therefore, we could simply test the accuracy of Black-Scholes model by comparison. About Data: We chose Six Continents as our target company to do our analysis and made a comparison between its mixlognormal distribution and Black-Scholes lognormal distribution. We chose Feb 19th as the big event date for the company, because there was a takeover bid from the management of Pizza Express on that day. The share price of Six Continents jumped more than 10% on Feb 19th and the trading volume increased more than 200%. The dates before and after the big event date are Feb 18th and Feb 20th respectively. Following this way, the mispricing drawback of Black-Scholes might be detected more easily due to the noise of big event. Interpretation of the results Using the Excel VBA programme, we got the Black- Scholes lognormal distribution and mixlognormal distribution for these two particular days. The lognormal distribution of Black-Scholes is shown in blue and the mixlognormal distribution is shown in pink. Figure 1 Mixlognormal distribution and lognormal distribution for Six Continent options on 18th, Feb 2003. Figure 2 (Figure 1 and 2 are consistent with each other. Both illustrate the option is mispriced by Black-Scholes.) Comparing these two distributions (i.e. figure 1) of the date of Feb 18th, we find that: 1, the mixlognormal distribution has a fatter left tail and thinner right tail than the lognormal distribution (This phenomenon is also supported by empirical evidence when some people analysed the S;P 500 index), and 2. Both sides of the tails in mixlognormal distribution are longer as well. 3. The right tail is longer than the left tail. For the first finding, it means that in the more accurate scenario, the volatility used to price a low strike price option (i.e. a deep-out-of-the-money put or a deep-in-the-money call) is higher than that used to price a high-strike-price-option (i.e. a deep-in -the-money put or a deep-out-of-the-money call). The second finding means that the Black-Scholes lognormal distribution chops some small probability events, but in fact, these small probability events do exist in real world. The explanation of the third finding is that the bid proposal for Six Continent leaked before the announcement date. Investors have taken the probability of takeover into consideration and predict the price will go up. The probability of the share price going up is bigger than the probability of its going down, the right tail is longer. Figure 3 Mixlognormal distribution and lognormal distribution for Six Continent options on 18th, Feb 2003. Figure 4 Comparing the mixlognormal figure with the lognormal one (i.e. figure 3) of the date of Feb 20th, we find that: 1. This relationship of the two distributions is similar to those of the date of Feb 18th. 2. The left tail is still a little bit fatter and the right side a little thinner in the mixlognormal than that of lognormal. 3. The right tail is longer than of the left tail. The interpretations of this figure are the same to the above ones. From the above comparison and analysis, we can find the reason that Black-Scholes model is often shown to misprice out-of -the money and in-the-money options relative to their at-the-money counterparts: the assumption, which states that future stock price have a lognormal distribution and equivalently future returns have a normal distribution (which both results from the assumption of stock prices following a geometric Brownian motion.), is invalid. If this assumption is neglected, the risk neutral probability density does not necessarily fall into the family of lognormal distributions but can be shaped differently. This implies, that lognormal parametric estimation of risk-neutral probabilities leads to wrong result. When we move the two mixlognorma l distributions (i.e. figure 6) together and also the two Black-Scholes distributions (i.e. figure 5) together, it is obvious to find that beside the mean of the share price moving to high level, the volatility shape changes a little. The left tail of figure before the big event dates is much fatter than the left tail of the figure after the big event date. Figure 5 Lognormal distributions of Six Continent options on 18th and 20th of Feb 2003. Figure 6 Mixlognormal distribution of Six Continent options on 18th and 20th of Feb 2003. This is understandable if we accept the explanation for the volatility smile when concerns leverage. It says that as a company’s share price declines in the value, the company’s leverage increases. Thus the equity of the company becomes more risky and its volatility increases. When the company’s share price increases, leverage decreases, then the equity become less risky and its volatility decreases. Since the bid for the Six Continen ts was accepted as favourable news for the shareholders, the share price had a big jump. According to the above explanation, its shares become less risky and thus lower volatility, so the left tail becomes thinner. Conclusion We estimated risk neutral density of equity option prices and compared mixlognormal distribution and lognormal distribution before and after big event. We found that the assumption (stock prices are log-normally distributed) of Black-Scholes does not hold in the real world and this hole can make the options mispriced. Appendix 1: The raw data of lognormal distribution for Six Continent options on 18th, Feb 2003. Trade 18-Feb-03 Maturity 16-Apr-03 r 0 T 0.1561644 F 554.5 sigma 0.4091905 mkt call strikes BS theory Sq Error moneyness weigted sq error 196 360 194.58 2.01 194.5000 0.0103 166.5 390 164.89 2.59 164.5000 0.0157 138 420 135.86 4.57 134.5000 0.034 101.5 460 99.5 3.98 94.5000 0.0421 69 500 67.93 1.14 54.5000 0.0211 38 550 37.88 0.01 4.5000 0.0032 17.5 600 18.77 1.62 45.5000 0.0356 7 650 8.34 1.8 95.5000 0.0188 2.5 700 3.36 0.75 145.5000 0.0051 1 750 1.25 0.06 195.5000 0.0003 0.5 800 0.43 0 245.5000 0 18.53 0.1862 Appendix 2: The raw data of lognormal distribution for Six Continent options on 20th, Feb, 2003. Trade 37672 Maturity 37727 r 0 T 0.15068493 F 615.5 sigma 0.36813434 mkt call strikes BS theory Sq Error moneyness weigted sq error 256.5 360 255.5013903 0.997221354 255.5 0.003903019 227 390 225.5132704 2.210364876 225.5 0.009802062 197 420 195.5835263 2.006397745 195.5 0.010262904 157.5 460 156.0819138 2.010968563 155.5 0.012932274 119.5 500 118.0715084 2.040588233 115.5 0.017667431 76.5 550 75.70383997 0.633870793 65.5 0.009677417 42.5 600 42.91727918 0.174121912 15.5 0.011233672 21 650 21.38061239 0.144865789 34.5 0.004199008 9 700 9.401761762 0.161412513 84.5 0.001910207 3.5 750 3.688784898 0.035639738 134.5 0.000264979 1 800 1.308782808 0.095346823 184.5 0.000516785 0.5 850 0.425705755 0.005519635 234.5 2.35379E-05 10.5163 1797 0.082393295 Appendix 3: The raw data of mixlognormal distribution for Six Continent options on 18th, Feb, 2003. Trade 18-Feb-03 Maturity 16-Apr-03 r 0 T 0.1561644 F 554.5 F1 613.42684 sigm1 0.0050015 F2 545.13413 sigma2 0.4331614 p 0.1371431 Cmarket X Cimplied (Cmarket-Cimplied)^2 Implied sigma by BS 196 360 194.6650299 1.782145105 0.605651935 166.5 390 165.1475618 1.82908915 0.53766516 138 420 136.4577704 2.378472184 0.502173454 101.5 460 100.7421585 0.574323782 0.454991983 69 500 69.60810609 0.369793012 0.424942163 38 550 38.86792249 0.753289445 0.410555737 17.5 600 17.00376787 0.246246324 0.393289282 7 650 6.928636732 0.005092716 0.38547187 2.5 700 2.914632833 0.171920386 0.382378979 1 750 1.14301875 0.020454363 0.394114927 0.5 800 0.422795028 0.005960608 0.417111769 8.136787075 Appendix 4: The raw data of mixlognormal distribution for Six Continent options on 20th, Feb 2003 Trade 20-Feb-03 Maturity 16-Apr-03 r 0 T 0.1506849 F 615.5 F1 631.64945 sigm1 0.005 F2 613.47651 sigm a2 0.3942533 p 0.1113462 Cmarket X Cimplied (Cmarket-Cimplied)^2 Implied sigma by BS 256.5 360 255.5039835 0.992048772 0.684121728 227 390 255.5291768 2.163320768 0.634591317 197 420 195.6487533 1.825867624 0.544725925 157.5 460 156.3364319 1.353890697 0.457835271 119.5 500 118.6654525 0.696469529 0.411053745 76.5 550 76.50974266 9.49E-05 0.380098628 42.5 600 42.7445391 0.059799374 0.363618501 21 650 20.42471433 0.330953606 0.363939585 9 700 9.572591543 0.327861075 0.362150688 3.5 750 4.077689599 0.333725272 0.363395708 1 800 1.597153827 0.356592693 0.351554917 0.5 850 0.581926491 0.00671195 0.376206304 8.447336279 We will write a custom essay sample on One basic assumption of Black-Scholes model Essay Example specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on One basic assumption of Black-Scholes model Essay Example specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on One basic assumption of Black-Scholes model Essay Example specifically for you FOR ONLY $16.38 $13.9/page Hire Writer

The Process of Environmental Scanning Essay Example

The Process of Environmental Scanning Essay Example The Process of Environmental Scanning Paper The Process of Environmental Scanning Paper Environmental scanning is a key activity that begins a companys strategy planning process. The scanning must include both external forces like economic, technological, political-legal, and coloratura as well as internal competencies such as value, rareness, immutability, and organization in order to be effective (Wheeled Hunger, 2010). This thorough analysis will provide a foundation for a company to build their plan upon. Environmental scanning provides a company their strengths to build upon, their weaknesses to mitigate, their opportunities to seize, and their threats to be careful of. Large companies like Microsoft and Amazon are still operating and successful today because they take the time and resources to conduct frequent environmental scans to keep their strategic plans relevant to the ever evolving competitive market. Internal and External Environments Environmental scanning shows that Microsoft Corporation would have typical internal environments such employee turnover and retention, employee morale, and standard financial planning. Specific to Microsoft would be hiring and retaining employees that will help keep Microsoft at the cutting edge of technology. Bill Gates (2014) vision statement states Our vision is to create innovative technology that is accessible to everyone and that adapts to each persons needs. Accessible technology eliminates barriers for people with disabilities and it enables individuals to take full advantage of their capabilities. This statement has a significant impact on internal environments and strategic planning. External Environments for Microsoft Corporation include technology advancement within the industry, competition such as Apple and Google, and in recent years the government and anti-trust lawsuits. Microsoft has invested and pursued a significant amount of vertical growth and has been criticized for creating a monopoly as well. Internal environments for Amazon are similar to those of Microsoft. Amazons mission statement is a very high reaching goal, to be Earths most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest possible prices, (Amazon, 2014). This is the main Internal Environment specific to Amazon as this drives many of the strategic planning as it relates to internal operations. External Environments for Amazon are customer satisfaction, new vendors, new products, and competition. Competition is probably the largest External Environment due to Amazons broad offering of products; this reaches into almost every industry worldwide and as Amazon increases its offerings it increases the competition as well. Competitive Advantages and Strategies Like many other companies that achieved success in the business world, Microsoft rose to the top of the software and computer business via the right strategy for ensuring a competitive advantage. The Microsoft Corporations competitive advantages include size and stability. The single most important strategy that the Microsoft Corporation went after that was pivotal for quick profits is research and development (RD), which helped the Microsoft Corporation to grow. Growth is a popular strategy because larger businesses tend to survive longer than smaller companies due to the greater availability of financial resources, organizational routines, and external ties (Wheeled Hunger, 201 0, Chapter 7). The strategies that the Microsoft Corporation now uses include a strong brand name, comprehensive product portfolio, inclusion, and global diversity as a strategy for success (Wheeled Hunger, Chapter 8, 2010). Amazons competitive advantages include investing and innovation. The strategies that Amazon uses include a marketing strategy that concerns sales, distributions, and pricing of goods. Johnson (2014), Amazon at its roots is built to transform. When it finds opportunities to serve new customers, or existing customers in new ways, it conceives and builds new business models to exploit them. Amazon has the unique ability to launch and run entirely new types of businesses while simultaneously extracting value from existing businesses (Para. 7). Amazon innovates, changing the companys business model to maintain a competitive advantage. Creating Value Amazon sustains competitive advantage by offering the convenience of shopping online and having products delivered right to the customers door. They also offer a wide range of products from multiple sellers that can offer lower prices. Amazon also specializes in fast shipping and customer satisfaction. Burrs (2003), In order to have a lasting competitive advantage, it is important to develop a competitive strategy that includes a wide spectrum of techniques to gain advantage. The internet allows customers to search for a product and where they can buy it at the lowest price. If it is levered within two business days, that is more appealing. This service will keep customers returning for future purchases. Amazon has something for everyone, from books to clothing, to housewives and grocery items. Someone who is busy and does not have time to shop can do so while at work or on the go without having to go to the store. According to Microsoft Customer and Partner Experience (2014), Microsoft strives to continually create innovative technology products that transform the way people work, learn, play, and communicate. Microsoft has been one of the leaders in the computer software industry. They offer a wide variety of products from software to tablets and cell phones. Their variety of products can be used for personal and business use. They sustain competitive strategy and create value by creating new products and services that can be used at school, work, or for play. Customers are always looking for the newest technology, the fastest computer, and the best prices. Microsoft continually competes with other companies in the technology industry by making their prices reasonable for the company but affordable for the customer. Measurement Guidelines The measurement guidelines that the Microsoft Corporation is using to refry its strategic effectiveness are balanced scorecards. The balanced scorecard is a proven performance measurement system. It is a complete long-term performance management system and methodology. It is a fact that defines, refines and shares strategy, for expressing strategy to operational terms, and for sizing the success of strategy implementation. The balanced scorecard initiative is very successful in the noticeable guidelines for the Microsoft Corporation. They meet the standards that represent the period of events in its organizations gradual development even though it is challenging and relating to the process of cultural change. Microsofts success is defined, with many facets approaches that support education, communication, scorecard development, and ongoing execution. (Bloomfield, c. , 2002) The measurement guidelines that the Amazon is using to verify its strategic effectiveness is its feasible and original business model that values its customers, and builds around the changing market. It is a plan of action and a thorough formula for profit, which turned around the respectable industry of books. Amazon continued to expand beyond just books and they now include all sorts of goods and services increasing from its central into near contiguity. Years later Amazon took hold of its empty space when it invented a new valued plan of action offering a charge service for brokers, buyers, and used books sellers. Once again it moved into its empty space by evolving a system to render assistance to distinct customers, and third-party sellers. Amazon has transformed its business from a store-front to precise types of service or goods to several different on-site departments as well as to outside beings which forms into a class of many sellers under one network, and it receives commissions sales from other companies. (Johnson, M. W. , 2014) Microsoft and Amazon are successful and profitable because of their ability to scan the environment, create value and sustain competitive advantages, and verify their strategies effectiveness through measurements. They incorporate all of these elements into their strategic planning process. They are able to exploit their strengths and keep pace with the changing technology market and stay one step ahead of the competition. New products and services are regularly developed and tested before brought to market. Environmental scanning is part of the reason these companies have flourished where others have failed.

Jet Blue - Strategic Management Assignment Example | Topics and Well Written Essays - 1000 words

Jet Blue - Strategic Management - Assignment Example Jet Blue embarked on an ambitious expansion plan, adding new planes and routes much faster than it added passengers. With the added capacity for more passengers, but customer base falling due to competition, Jet Blue started to face its most crucial problems. The profits started declining until in 2006 Jet Blue reported its first ever loss. Jet Blue could not utilize its planes to full capacity to meet the increasing fuel charges. Till now, Jet Blue hasn't been able to recover fully although the company is profitable again. (Press Release - Jet Blue, 2006) (Kahn, 2004) The shareholders of a company want higher returns on the shares in the form of dividends and value of the share. On the other hand, a community does care what returns the shareholders get. They want the company to conduct a business that either gives a positive return to the community or does not hinder the community in either way. To balance between these two, a company must realize that most of the shareholders are a part of the community; hence they would want the well being of the community as well as their own interests in the company. Therefore a company should concentrate more on the needs of the community which eventually would be in the best interests of the shareholders as well. 2 - Getting loyal customers to put out a phone "request for proposal" soliciting competitors' bids - This is ethical since you don't your the customers actually don't need the bids, therefore, this practice is not encouraged. 5 - Buying competitors' products and taking them apart - after buying something, it becomes your property (unless stated otherwise) therefore taking it apart to analyze is okay. 2 - Hiring management consultants who have worked for competitors - consultants are not your employees thus this practice is not appropriate since it would be unethical if consultants give some information about the competition