Thursday, December 26, 2019
Forest-Thomson advises this approach to a poem Ã¢â¬Å"falsifies our experience of poemsÃ¢â¬ , we are seeing only a singular layer in which the reader is coercing a specific meaning that is easily digestible and relatable. Rather than engaging in such false readings, or Ã¢â¬Ëbad naturalisationÃ¢â¬â¢ Forest-Thomson demands a closer inspection of the genetic structure of a poem. To give each base element, or section of the sequence, the time and emphasis needed to understand and negotiate the importance these elements have on the poem as a whole. In this manner, it can be seen that her theory of poetry borrows from a biologistÃ¢â¬â¢s mind set on the necessity to understand the smaller sub systems, so as to be able to view and retain an understanding of the wider.Ã¢â¬ ¦show more contentÃ¢â¬ ¦He advocates that hoped to influence in some small measure a Ã¢â¬Ëparadigm shiftÃ¢â¬â¢ within the methodologies of the sciences. This rather determined position is highlighted in his postmodernist leanings, which are most poignantly shown in his belief that Ã¢â¬Å"absolute truth is nothing but absolute conformism.Ã¢â¬ Whilst throughout Against Method he argues for an epistemological anarchism that works contrary to the notion of co-option, his demanding of a more expansive methodology that does not self-limit does align. Feyerabend can be seen in some ways as the antithesis of WilsonÃ¢â¬â¢s later Consilience. While Wilson argues for a unification of the separate fields of knowledge under a monistic concept of truth and knowledge, Feyerabend consistently demands the opposite. That Ã¢â¬Å"knowledge is obtained from a multiplicity of views rather than from the determined application [of] a preferred ideologyÃ¢â¬ - the prevailing western scientific method. It is this Ã¢â¬Å"pluralism of theoriesÃ¢â¬ that Feyeraband maintains is essential to both scientific progress and epistemological questioning. He also through this determination that multiplicative views and ideas are required leads to a requirement of interexchange between other fields of understanding. Just as poet and critic Forest-Thomson also consistently expresses as necessary in her published works. As Feyeraband advises it is this need to Ã¢â¬Å"step outside the circle and either to invent a new conceptual systemÃ¢â¬ ¦or to import su chShow MoreRelatedThe Planners by Boey Kim Cheng836 Words Ã |Ã 4 Pagesthe University of Newcastle. Literary History Ã¢â¬ ¢ In 1987, Boey won first prize at the National University of Singapore Poetry Competition while studying as an undergraduate. Ã¢â¬ ¢ Aged 24, he published his first collection of poetry(Somewherebound). it went on to win the National Book Development Councils (NBDCS) Book Award for Poetry in 1992. Ã¢â¬ ¢ his second volume of poems Another Place received the commendation award at the NBDCS Book Awards. Ã¢â¬ ¢ In 1995, Days Of No Name, which was inspired byRead MoreLiterary Analysis Of John Keatss Ode To Autumn830 Words Ã |Ã 4 PagesAnalysis of John Keats Ode to Autumn My initial reaction to this work evoked a taste of wanting to taste the fruit of season. The poem, Ode to Autumn, also reverted me back to my years of early reading when I read Ã¢â¬Å"The Secret GardenÃ¢â¬ . I am enamored by the way Keats almost makes me see the fruit and vines. Reading about the symbionic relationship that takes place between the sun and the changing season is awe-inspiring; as it relates to the reaction or the beauty that is created based on that relationshipRead MoreStylistic Analysis: To--- by Peter Shelley1649 Words Ã |Ã 7 PagesLanguage through Poetry: A Stylistic Analysis of Percy Bysshe ShelleyÃ¢â¬â¢s Ã¢â¬Å"To ---Ã¢â¬Å" A Stylistic Paper Presented to The Faculty of the Department of English Institute of Arts and Sciences Far Eastern University Manila In Partial Fulfillment Of the Requirement for the Course Eng C 31Ã¢â¬âIntroduction to Stylistics Osabel, Julla C. Panis, Kimberly Nicole S. October, 2012 I. Reaction and itÃ¢â¬â¢s effects on you II. Summary of the Text Percy Bysshe ShelleyÃ¢â¬â¢s Ã¢â¬Å"To ---Ã¢â¬Å" isRead MorePsychoanalytic Criticism on Emily Dickinson Essay1086 Words Ã |Ã 5 Pagesof Emily Dickinson, psychoanalytic criticism comes into play with the role of explaining the many meanings behind her poetry, as to make the reader relate to such poetry on a deeper level or not to who she was as a human being. Many critics believe that using a psychological criticism approach to understand an authorÃ¢â¬â¢s literary work leaves common sense behind. For them, such analysis disregards the environment in which an author created their work, as well as disregarding that men and women read differentlyRead MoreEssay about Analysis of the Poems of Robert Frost1316 Words Ã |Ã 6 PagesÃ¢â¬Å"The Road Not TakenÃ¢â¬ and Ã¢â¬Å"Nothing Gold Can StayÃ¢â¬ are just two of many very famous poems, written by none other than Robert Frost. Robert Frost is a poet that is well known for his poetic contributions to nature, as well as his award winning poems. His poetic ability and knowledge make him an extraordinary author. His past; including schooling, family, and the era in which he wrote influenced nearly all of his poems in some way. This very famous poet contributed to the modernism era, had a familyRead MoreModern F. Robert Frost1547 Words Ã |Ã 7 PagesLyotard Ã¢â¬Å"designate[s]Ã¢â¬ this name and movement to Ã¢â¬Å"any science Ã¢â¬ ¦ legitimat[ing] itself Ã¢â¬ ¦ [by] making an explicit appeal to some grand narrativeÃ¢â¬ (xxiii). It is thus to the disgust of postmodernists to find Robert FrostÃ¢â¬â¢s name, poems and poetry listed with such a narrow-minded, self-aggrandizing, so-called sophisticated group (like T.S. Eliot, Ezra Pound and Amy Lowell) since Frost was not a poet who believed science and languageÃ¢â¬ânor the source of science and languageÃ¢â¬âto be singular, but rather ulteriorRead MoreThe Projection Of War 1151 Words Ã |Ã 5 PagesThe Projection of Ã¢â¬ËWarÃ¢â¬â¢ in Poetry: Applying Metaphor Theory One study that investigates the role of metaphor in poetry is Peter Stockwell (2002). Stockwell defines metaphor as Ã¢â¬Ë the use of one expression to refer to a different concept in in a way which is still regarded as meaningful, and metaphor has most prototypically been associated with poetic and literary usage.Ã¢â¬â¢ According to Stockwell, much work in cognitive science has demonstrated that metaphor is related to the function of human mindRead MoreThe Raven And The Overwhelming Power And Sadness Of The Death Of A Loved One1165 Words Ã |Ã 5 PagesCritical Analysis This critical analysis essay is about Poet Edgar Allen PoeÃ¢â¬â¢s poem Ã¢â¬Å"The RavenÃ¢â¬ and the overwhelming power and sadness of the death of a loved one. There is such sorrow and even anticipation that the poem invokes in the reader. The poem can be quite dreary and full of gloom, but the author also makes it sound eerie but somehow beautiful and lyrical especially when reciting it orally. Poe was a remarkable writer and known as being a bit peculiar in person and in his writings. PoeRead MoreEmily Dickinson s `` Because I Could Not Stop For Death `` Essay1355 Words Ã |Ã 6 PagesdoesnÃ¢â¬â¢t try to enlighten anyone of anything. Her poems were uniquely written and she wrote about the uncertainty, which makes her poetry easy to empathize with in the 21st century. The 21st century, is a period of science which is used as a tool to make sense of the uncertainty. Emily Dickinson uses her poetry as a means to question and observe the trauma of human existence. For instance , she doesnÃ¢â¬â¢t shy away from the reality of death in her poem Ã¢â¬Å"Because I could not stop for DeathÃ¢â¬ . Emily DickinsonRead MoreAmerican Authors Research Project: Emily Dickinson644 Words Ã |Ã 3 PagesBetween 1858 and 1864 Emily Dickinson wrote over 40 hand bound volumes of nearly 1800 poems, yet during her lifetime only a few were published. Perhaps this is why today we see Dickinson as a highly influential writer, unlike those during her time who did not see the potential. Emily Dickinson wrote towards the end of the romanticism era, but considered more of a realist, ahead of her time and one to shape the new movement. The main characteristic of Romanticism that Dickinson portrays in her writing
Wednesday, December 18, 2019
Growing up as a child in America I did not have a hero. Although I was exposed through my own reading and television to many revered and Ã¢â¬Å"famousÃ¢â¬ people, I never aspired to be like any particular individual. I looked at peopleÃ¢â¬â¢s accomplishments and achievements, as remarkable as they might have been, as normal. I saw their feats as something that I myself can achieve if I made an effort. I remember my friend, Ben, always talking about Charles Barkley, a legendary basketball player. He would follow his every move on and off the court. All you had to do was walk into his room to and you would be able to tell the deep love he had for his hero. His wall was plastered with posters of Barkley and his desk was full of Barkley action figures. HeÃ¢â¬ ¦show more contentÃ¢â¬ ¦Society has an unrealistic definition of a hero. Heroes have long stood as ideals, as shining, perfect people seen on television or in the movies. The people that mourn the lack of heroes want us to ad mire people we have never met, on the basis of appearances and second hand information. In this regard, the concept of a hero is irrelevant. It forces us to regard a false idea and to respect a celebrity or leader because of what he seems to be. Every human has both good and bad qualities, and when we worship the good and ignore the bad we are in for a major disappointment. In my opinion the lack of these Ã¢â¬Å"heroesÃ¢â¬ marks the rise of human character not the decline. When the word Ã¢â¬Å"heroÃ¢â¬ is mentioned, the word Ã¢â¬Å"famousÃ¢â¬ comes to mind. Society has made a mistake by teaching us that to be worthy of the title of Ã¢â¬Å"hero,Ã¢â¬ a person must be famous. In reality we canÃ¢â¬â¢t make heroes from people that we donÃ¢â¬â¢t know personally. The fact that people donÃ¢â¬â¢t cherish the famous shows that they have grown out of the unimportant judgment of outer appearances and have developed insight and strength of character. These people donÃ¢â¬â¢t have to model themselves entirely after others. They have room for originality, independence and freedom of choice. Instead of seeking qualities in strangers, they build admirable qualities in themselves, in their personalities and their own dreams. Society doesnÃ¢â¬â¢t need people to emulate heroes; it needs the contributions of individuality. However, true heroesShow MoreRelatedBeowulf As A Hero910 Words Ã |Ã 4 Pagescourageous acts or nobility of characterÃ¢â¬ (Ã¢â¬Å"HeroÃ¢â¬ ). A hero shows much more than honor and glory, they sacrifice their own life to selflessly help out the lives of others. By having heroes it gives us hope, wisdom, and justice throughout the nation. The three main types of heroes include an epic hero, superhero, and your own personal hero. These heroes show that it s more than the cape or armour they wear, they show the true meaning of a hero by defining sacrifice, loyalty, and determination. ThroughoutRead MoreEssay on The Epic Hero Archetype in Films, and Literature850 Words Ã |Ã 4 Pagesforce, and Harry Potter magic, epic heroes continue in every form of todayÃ¢â¬â¢s entertainment and storytelling. Every culture from the beginning has had their own tales of heroes accomplishing great feats that no one else could. An epic hero is an icon for everyone to relate to, they symbolize different lessons to learn. The epic hero archetype exists as a source of entertainment but also as a demonstrative tool. Their morals and actions are there to help shape our own actions in life. The archetypeRead MoreHeroes As A Hero Essay1563 Words Ã |Ã 7 Pages In many occurrences, heroes are described as big, bold, and brightly dressed people who are a normal person by day and a hero by night. However, in reality heroes are around us in our everyday lives, but we fail to see the consummations of them. From the veteran you donÃ¢â¬â¢t notice in the grocery store, to the moms and dad s all around us who are involved in the upbringing of the current generation of kids. A hero is one who stood above all to achieve the greater good for all of mankind, and developedRead MoreWho Is The Word Hero?1366 Words Ã |Ã 6 Pageshis act of dying on the cross to save people from sin and death. Is a hero defined by the number of sacrifices he has made to the benefit of the society? Why are only certain people heroes? We all know what a hero is, but how would you define a hero? Heroism is an attribute celebrated in varied ways. Evidently, heroes are all around us, from Jesus Christ to everyday people. However, what qualifies a person as a hero is listening for the call to adventure, accepting the challenge, and then, be willingRead MoreEssay on Comparison of Modern Day Heroes and Beowulf744 Words Ã |Ã 3 PagesComparison of Modern Day Heroes and Beowulf Most of us have heard of modern day heroes such as Spiderman, Superman, and the Hulk. Each is a hero to many children. Heroes are introduced to people early on in life usually as fictional characters, but as children grow older their perceptions of heroes alter. The characteristics of a hero are usually based around the ideas of a society or culture. In the epic Beowulf, the main character is thought of as a hero. Beowulf, a pagan warrior and the mainRead MoreEssay on Hero831 Words Ã |Ã 4 Pageswhat is right instead of what is popular. But each individuals definition of a hero is different and everyone, in a sense, could be someone elseÃ¢â¬â¢s hero if they had the chance. Ã Ã Ã Ã Ã Ã¢â¬Å"The hero used to be the one in white. Now he is harder to spot.Ã¢â¬ Heroes are everywhere; it just takes a closer inspection to notice. Whether it be the mailman who is courteous to you when he brings you your mail, or a total stranger who risked his or her life to help you. ThereÃ¢â¬â¢s a story of a widowed woman with two youngRead MoreWhy We Love Tv Anti Heroes1374 Words Ã |Ã 6 PagesDaniel Holland April 13, 2014 Why We Love TVÃ¢â¬â¢s Anti-Heroes Is it possible todayÃ¢â¬â¢s generation gradually evolved into an era in which selfishness and evil overpowers good? Over the past years society perceives the idea of a hero differently than it was perceived in the 21st century, nevertheless impacts our society hugely. It is no surprise why youth of today enjoy T.V. shows that are driven by torture, killing, drugs and drama. In fact these are among the T.V. shows with higher ratings. HeroRead MoreFree Morning Reading Sessions I Came Across A List970 Words Ã |Ã 4 PagesCourageous Ways To Live During one of my daily morning reading sessions I came across a list written by an anonymously author, The Rules For Being Human. Here are the top five rules that apply to living a bold life: The Rules For Being Human 1. You will receive a body. You can love it or hate it, however it is yours for your entire journey, so learn to embrace it. 2. Life is a full-time, never ending, 24/7 spontaneous school. Everyday brings new opportunities to learn lessons. Succeed and failureRead MoreThe Globalization Of Consumerism Within The United Kingdom, Germany, And China915 Words Ã |Ã 4 Pagesbrands take advantage of this and advertise based off of it. Advertising plays a huge role in how consumers are attracted to the goods that they will eventually end up buying. They are everywhere we go, whether the ad is on a magazine, billboards, or on our phones. Whether or not we Ã¢â¬Å"fall forÃ¢â¬ their signs sorts us into two categories: a creative hero or a cultural dupe. Everyone is there own consumer, and we tend to fall into being a cultural dupe, or a creative hero as mentioned before. When a bottleRead MoreHero Worship1177 Words Ã |Ã 5 PagesÃ¢â¬Å"Hero worship never died and never willÃ¢â¬ (Carlyle, 208).The dreams of becoming a superhero, the desire for success, and the worship of heroic figures are deeply rooted in our hearts. My feelings about heroes are always triggered by the most pervasive form of modern artÃ¢â¬âfilms. Every time I watch a heroic film, I feel deeply moved by the strong personalities of the hero. In different films, he can either be a cowboy riding a horse, a warrior who fights for the independence of a country, a policeman
Monday, December 9, 2019
Question: Discuss about thePrincipal of Financial Market for Finance and Insurance. Answer: Introduction Australia and New Zealand Bank Australia and New Zealand Bank (ANZ) is one of the largest providers of financial Services in finance and insurance. ANZ has it's headquartered in Auckland, New Zealand. The company is conducting its operation in New Zealand within the legal entity of ANZ National Bank Limited. This was formed after the merger between ANZ Banking Group in the year 2012. ANZ New Zealand will be operating in different kind of brands like ANZ, UDC Finance, Bonus Bonds and Direct Broking. The bank is also providing several financial services with banking services, investment, asset finance and payments of solutions. ANZ has shareholdings of 13% in ISL (Interchange Settlement Limited) is operating on the processing of the retail payment for conducting transactions in the interbank and 16% in VNZL (Visa New Zealand Limited) is the board for granting access for Visa network of New Zealand. ANZ is dealing in providing cheque accounts, share brokerage, investment banking, consumer finance, lending on asset a nd insurance. ANZ is focusing on strategy for building the best connected as well as respected bank all over the region in Asia Pacific. ANZ is thinking to expand with its branches in retail commercial and institutional banking system (Anz.com.2016). Commonwealth Bank Limited Commonwealth Bank (CAB) is one of the multinational banks of Australia in the list of big four banking companies. It has its business all over New Zealand, Asia, USA, Fiji, and UK. It is listed the company on ASX with various financial services of retail, institutional banking, management of the fund, superannuation and broking services. CAB was listed as government privatized company in 1996 and 1991 it was listed on ASX. CAB is considered to be the largest bank in all over the southern hemisphere. CBA was founded by through Commonwealth Bank Act on 1911. CAB was the first bank to get Federal Government guarantee in Australia. In Melbourne, CAB's first branch was opened. The bank is aiming at providing financial services to the owner of a small business and person. The company has headquartered in Sydney, Australia. In 1989, 75% of ASB Bank which is situated in New Zealand was acquired by CAB. Then further in 1991 CAB also took over failing bank that is State Bank of Victoria which was owned by a Victorian government. In 2009, Colonial National Bank was sold to Bank of South Pacific by CAB. In March 2012, CAB transferred the services of ATM from HP Enterprise to ITS in Sydney (Commbank.com.au.2016). Top-Down Analysis Top-down Analysis is one of the parts of fundamental analysis, which is qualitative in nature. Top-down analysis is looked as Big Picture' with featuring small component (Bartram and Grinblatt 2015). Top down approach is known as designing of step and in few cases it is decomposition. The top-down analysis will be done by taking into view micro and a macro factor of both the bank. Top-down analysis is also said to be investment approach. Fundamental analysis of the top-down approach will include economic, industry and company analysis. For analyzing in an economic perspective, analysis and comparison will be done on GDP growth and inflation rate structure and also its effect on the two banking company (Goodman et al., 2013). Next, industry perspective will be analyzed regarding demand Supply structure and effect of exchange rate on the banking sector. Finally, Company analysis will be done regarding dividend and return achieved by the company. (Source: Breyer et al., 2013) Given economic analysis, GDP can be measured by observing the employment opportunity given by the bank and banks contribution towards per capita income. From the research it has been observed that Australia economy is giving stable, it is not getting affected by the economic crisis faced by the entire world in 2014. GDP has been showing an increasing trend CAB has employees more than 50000, whereas ANZ too has employed more than 52000 employees working in the company (Fornelli et al., 2013). This also shows a contribution toward the growth of the country, which in term says that both the banking company are providing a lot of employment opportunity every to Australia. Moreover, the analysis will be done given the inflation rate of the country. From the above figure, it has been found that inflation rate has decreased as compared to the last. But CAB and ANZ has no effect; it is because banking industry in Australia is referred to be the most favorable environment for conducting the f inancial services. Inflation can be mitigated by investing them in long duration fixed interest rate (Geis-Asteggiante et al., 2015). Next moving to industry analysis, in this analysis factor of demand supply and exchange rate will be determined. Exchange rate plays a vital role in the role of companies operation, especially in a case of banking institution because its business is mostly involving with the currency. So increase and decrease in exchange rate gives an indication huge effect on the revenue generation of the company (Tvardovskiy et al., 2015). From the financial statement of CAB, it has been observed that there has been the increase in cash and cash equivalent regarding foreign exchange rate. Since 2013 CAB has got a lot of increased generation form the effect of foreign exchange. Next moving to in the case of ANZ it has been observed that movement of Australian and New Zealand dollar plays a great role of volatility, in comparison to the other global currency available. In the Australian and New Zealand dollars get depreciated then there can be the increase in the debt service of the company which in terms is not the good signal. There has been the increase in net loans and advances from $ 19 billion to $ 48 billion. The deposits and another borrowing were increased from $ 60 billion to $ 32 billion. Similarly, adjustment made in the cash flow because of the exchange rate has been increased for the previous year (Guerrero et al., 2015). Finally, arriving at the company analysis, it will be measured regarding dividend given and return achieved on the capital employed. Dividend given by the company gives a picture of the company regarding investing it further or not (Vyatkina et al., 2016). From the annual report of the CAB, it is noted that company will be contributing some portion of the dividend in the dividend reinvestment plan, as compared to earlier year amount contributing to DRP system has increased, which show a good sign of respect of company. In 2013 the final dividend on fully paid ordinary share was $ 73.42 whereas in the next year it was $ 80.39 this indicated good sign in CAB bank. In the case of CAB, Return has decreased about the employed capital. Whereas in the case of ANZ its dividend was paid in cash as well as it was reinvested in DRP (Anz.com.2016). The annual report says that Bank has revenue in dividend has been increased from the previous year. There has been 80% increase in the revenue from a dividend. It the perspective of return it has been observed that there has been increasing in return percentage regarding capital employed (Mao et al., 2013). Bottom-up Analysis Bottom-up analysis is evaluated on the evaluation of quantitative data available for the company (Lee et al., 2016). Bottom-up analysis is said to be huge category to be evaluated. Bottom-up analysis is done on the economic environment of the company through the business cycle explanation. The bottom-up analysis does not include the micro factor of the environment. Bottom-up analysis is done on the financial ratio (Sun et al., 2013). Financial ratios are the best way of evaluating firm performance. Financial taken into consideration are of three category profitability ratio (includes net profit margin ratio and return on asset), Liquidity ratio (includes current ratio and quick ratio) and Solvency ratio (includes debt to equity ratio and equity ratio). Analyses of the ratio are given below: Liquidity ratio - Liquidity ratio helps in measuring the capacity of the firm to pay current and long term liability (Parker and Vannest 2012). It is also helpful in measuring the level of cash of the company with capacity to pay liability and availability of cash to transform some assets. For measuring this ratio there are several numbers of ratios are there, but for the research, there are only two of them are taken into consideration, i.e., Quick Ratio and Liquidity Ratio (Brigham and Ehrhardt 2013). Commonwealth Bank Australia and New Zealand Bank From the above, it can clearly figure out the CAB current ratio is not a sound indication. From the graph, it is clear that bank does not have the capacity to pay it long term and current liability but on the overall basis, the trend shows that in 2014 there was sufficient fund available to pay of the liabilities (Arnold 2014). Similarly, Quick ratio of the shows that in 2014 the level of cash totally decreased at present it is at constant. This indicates that in the 2014 and 2015 the bank has almost same level of cash to transform them into cash. From the above, it can be said that in 2014 the current ratio decreased at an instant. But in 2015 it again increased, which says that bank had sufficient amount of cash to pay its liabilities. What the bank is gaining is position gradually. Similarly, Quick ratio in 2013 shows a sound indication. But in the year 2014 Quick ratio falls with huge difference. But in the current year, the bank is gradually improving its position, which says that company has sufficient cash available to get the cash converted into cash. Profitability Ratio Profitability measure and compares some of the aspects of income statement as well as it focuses on the capacity of the company to utilize its available resources properly for the generation of profit (Brigham and Houston 2012). Whether the company is proceeding with the operations for the purpose of generating profit. It also measures the efficiency of company to for managing its assets to generate profit during the year. For measuring this ratio there are several numbers of ratios are there, but for the research, there are only two of them are taken into consideration, i.e., Net Profit Margin Ratio and Return on Asset Ratio Commonwealth Bank Australia and New Zealand Bank From the above figure, it can be stated that company ability to generated profit by utilizing its resources has been totally fulfilled. In 2014, the bank generated more profit than as compared to 2015. But on the overall basis company is suitably utilizing its resources for the generation of profit. Similarly, return on asset has been observed as constant all throughout the three years. It implies that bank is generating constant profit through the utilization of available asset. ANZ do not show a good position regarding profit generation. ANZ is not utilizing its available resources properly. ANZ do not have good sign in the net profit margin ratio (Titman et al., 2015). Similarly, regarding return on assets, it also does not show good indication. The bank is not utilizing its assets for the generation of profit of the company. It is gradually decreasing as compared to earlier year. Solvency Ratio Solvency ratio is calculated to measure ability of the firm to maintain the operations with indefinitely through comparison of various debts levels regarding asset, equity, and earnings (Dixon , 2013). In another way, it is recognized as concept of going concern problems and capacity of the firm to pay the bill in long term. It is mainly concentrating on the sustainability of long term. This ratio also indicated the creditworthiness and financial way of sounding company. It also highlights solvent and sustainability of the business regarding finance. For measuring this ratio there are several numbers of ratios are there, but for the research, there are only two of them are taken into consideration, i.e., Debt to Equity Ratio and Equity Ratio Commonwealth Bank Australia and New Zealand Bank From the above figure, Equity ratio shows a straight line, which in term says that CAB has the same level of equity, is maintained as compared to the level of total assets (Commbank.com.au.2016). Debt to Equity ratio is showing an increasing trend, which in terms also say that bank is getting more liability regarding creditors, bank loans from other financial institutions, which can be said that more and more investors are planning to invest in the company. From the above figure, Equity ratio shows falling trend just after 2014 and then remains to be at constant for the period (Lasher 2013). Similarly, ANZ is a showing gradual increase in debt-to-equity ratio in 2014, and then after that remaining at constant stage, which it terms says that bank is gradually getting investment and funding for the investors and creditors as well as other banking institutions. Summary Recommendations Detail discussion has been, after the adoption of top down and bottom up analysis. Brief analysis has been done on the banking sector of Australia. The explanation has also be done by taking into account micro and macro factor affecting the company. It has been analyzed that both the companies are providing its best financial services to the clients in Australia. Banks has been effectively providing its services to its clients and continuing to increase its operation of the business. It is further analyzed that CAB is in the front line of solvency ratio as well as profitability. So at best position but comparably in better position than ANZ. It is recommended that ANZ should adopt some strategy to high profit as well as able give more return to its investor. From the above analysis, it has been noticed that CAB is one of the oldest banks for providing its financial services. Due to this CAB's goodwill is helping his to maintain its position regarding profitability and solvency. These two are the most important criteria for choosing a company for the investment to be done. Finally, to make a conclusion to the research conducted, it can be said that all the requirement of the report has been truly fulfilled with successful attempt. The finding and analysis have been done by having a complete analysis of the company's website and annual report. The analysis has been from 2013 to 2015. Details explanation has also been done on the complete analysis of top down and bottom up analysis with the help of accounting ratio the analysis is completed. Reference List Anz.com. (2016).Personal - Online Banking | ANZ. [online] Available at: https://www.anz.com/personal/ [Accessed 22 Sep. 2016]. Arnold, G., 2014.Corporate financial management. Pearson Higher Ed. Bartram, S.M. and Grinblatt, M., 2015. Fundamental Analysis Works.Available at SSRN 2479817. Breyer, C., Birkner, C., Meiss, J., Goldschmidt, J.C. and Riede, M. 2013, "A top-down analysis: Determining photovoltaics RD investments from patent analysis and RD headcount",Energy Policy,vol. 62, pp. 1570-1580. Brigham, E.F. and Ehrhardt, M.C., 2013.Financial management: Theory practice. Cengage Learning. Brigham, E.F. and Houston, J.F., 2012.Fundamentals of financial management. Cengage Learning. Commbank.com.au. (2016).Personal banking including accounts, credit cards and home loans - CommBank. [online] Available at: https://www.commbank.com.au/ [Accessed 22 Sep. 2016]. Dixon, J., Scura, L., Carpenter, R. and Sherman, P., 2013.Economic analysis of environmental impacts. Routledge. Fornelli, L., Parra, J., Hartmer, R., Stoermer, C., Lubeck, M. and Tsybin, Y.O., 2013. Top-down analysis of 3080 kDa proteins by electron transfer dissociation time-of-flight mass spectrometry.Analytical and bioanalytical chemistry,405(26), pp.8505-8514. Geis-Asteggiante, L., Dhabaria, A., Edwards, N., Ostrand-Rosenberg, S. and Fenselau, C. 2015, "Topdown analysis of low mass proteins in exosomes shed by murine myeloid-derived suppressor cells",International Journal of Mass Spectrometry,vol. 378, pp. 264-269. Goodman, T.H., Neamtiu, M. and Zhang, F., 2013. Fundamental analysis and option returns.Available at SSRN 1974753. Guerrero, A., Lerno, L., Barile, D. and Lebrilla, C.B., 2015. Top-down analysis of highly post-translationally modified peptides by fourier transform ion cyclotron resonance mass spectrometry.Journal of The American Society for Mass Spectrometry,26(3), pp.453-459. Lasher, W.R., 2013.Practical financial management. Nelson Education. Lee, A.E., GeisÃ ¢Ã¢â ¬Ã Asteggiante, L., Dixon, E.K., Miller, M., Wang, Y., Fushman, D. and Fenselau, C., 2016. Preparing to read the ubiquitin code: topÃ ¢Ã¢â ¬Ã down analysis of unanchored ubiquitin tetramers.Journal of Mass Spectrometry,51(8), pp.629-637. Mao, Y., Valeja, S.G., Rouse, J.C., Hendrickson, C.L. and Marshall, A.G., 2013. Top-down structural analysis of an intact monoclonal antibody by electron capture dissociation-Fourier transform ion cyclotron resonance-mass spectrometry.Analytical chemistry,85(9), pp.4239-4246. Parker, R.I. and Vannest, K.J., 2012. Bottom-up analysis of single-case research designs.Journal of Behavioral Education,21(3), pp.254-265. Sun, L., Zhu, G., Zhao, Y., Yan, X., Mou, S. and Dovichi, N.J., 2013. Ultrasensitive and fast bottomÃ ¢Ã¢â ¬Ã up analysis of femtogram amounts of complex proteome digests.Angewandte Chemie International Edition,52(51), pp.13661-13664. 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Monday, December 2, 2019
In this assignment I will divide the question into two parts. Firstly I will provide an overview of how the prices in the vertical chain for music compact discs correlates with how prices are divided according to the mentioned links in production chain of the music industry. Secondly I will by use of Porters five forces explain the pattern of this. Very few big record companies heavily control the music Industry.This Is also known as Oligopoly, which makes the record companies price setters in the music industry ND leaves them with significant more power than that of the artists and the retailers. This means that the record companies deterrents the price distribution between the links In the process from production to retailer. The record companies are responsible for managing everything in the process as above mentioned; signing up artists, handling technical aspects of recording, securing distribution and promoting the recordings. We will write a custom essay sample on Music Industry, Five Forces. or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Because the record companies holds the main responsibility according to the production process and possess the most powers due o oligopoly, the record companies holds 3/5 of the approximate earnings. The artists are the price takers due to massive competition. The artists are highly dependent of the record companies and with virtually no or little difference in the cost of the artists and differentiation between the artists. The retailers are the price takers. Since the music retail business exists with a relatively high concentrator of substitutes.The threat that the record companies will create their own music retail business and the threat of the digital music leaves the retailers with very little Influence and power In the industry. To explain the pattern of why the income in the music industry has been divided as given in the question I will use Porters five forces. With the concept of Porters five forces It is possible to break down the economics within a certain industry and describe that The power of Suppliers The providers of material In the music Industry are the artists.There is a broad -and large range of artists willing to represent the record companies which means that the record companies are able to choose the artist with the lowest price in order to increase their profits. The wide variety of artists and talent also means that the switching costs between the artists are very low since t hey are relatively easy to replace. Differentiation In the music Industry depends solely on the talent available. Since there is massive amount of talent 1 OFF supplier decreases.Yet, some very big artists may be able to negotiate prices, but since the large record companies hold popular artists within each genre this again decreases the power of supplier. Bridge! Since the record companies today hold the of income, the establishment of subsidiaries is preferable for some artists. The establishment of a record company does demand a significant amount of money for start up, a larger network within the industry and energy to manage the tasks that the incumbent record company normally would have done.This keeps many from establishing their own record company, but those that do establish a record company also increases the competition within the industry, which has a negative affect for the record companies. Yet, the threat of the suppliers forward integration is low and does not directly pose a threat to the large record companies. Ere power of buyers The powers of buyers (retailers) are in this industry weak. The retailers are threatened by the record companies, whom if they Mould, could distribute their own music.Moreover the switching costs for the buyer are high, as the low number of large record companies forces the retailers to take Anteater price is given from the record companies. Unlike the record companies possibility for forward integration, the threat of backward integration by buyers is low. The idea of backward integration for the buyers are quite distant since the idea of the retailers entering the record production business seems very unlikely.The low threat of backward integration means that the threat of competition from the buyers IS low. In other words, the buyers are fragmented and do not possess any significant influence on products or price. Yet there is one buyer in the music industry that is strong, which is of course tunes, an example of a nearby monopoly. Since the digital music industry develops so fast, the record companies depends on tunes Inch in this year, 2012, has a market share at 64% of U. S. Chital download sales and 29% share of overall sales. This reverses the relationship between the record impasses and the retailers. In this relationship the retailers are the price setters, Inch also explains why digital sound can be sold at lower expenses via online channels than the compact disc can. The threat of substitutes The threat of substitution in the music industry is high and is fostered from increase in file sharing, piracy downloading and online services like Spottily and Pandora. The substitution forces the record companies to reduce its prices on Cads and conclude sales agreements at prices significantly below normal prices, which ultimately decrease profits and revenue of the companies. The music industry is under pressure from several of entrants like digital download services and piracy services offering music for free. This means that the threat of entrance is high since the digital services increases competition for everybody in the music industry.Besides from the outside threat being the digital music services, also threats from the inside has happened during the last decade. Several of high profile musicians have already left the record labels and besides that some bands like Radioed have forced their record label to lease their album online. Both developments that indeed undermine and decreases the power the record companies and sets a brand new agenda for the way the record companies and the way they do business.This means that in order for the reco rd companies to thrive more efficiently through times of development and to crisis they have hade to rethink they way in which they perform their work. Ultimately Nat has become the main challenge of the music industry (technological development) has also become the reason why they can work even more efficient and infinite from economies of scale. The record companies forces like long-term experience, level of resources and network access makes them better off when having to navigate through a changing music industry with declining sales.In 2007 CD sales in the U. S. Dropped by 19% and the music industry are increasingly aware that the next coming phase for music distribution is via services like tunes and so forth. Yet this does not change the fact that even though digital music distribution has been booming over the last decade the overall music sales are now slowing Rivalry he compact disc has for long been the most valuable asset in the music industry and has been the largest revenue for the record companies.Since the development of the increased digital and technological integration, the sales of Cads have decreased. This has happened, as the need for multifunctional telephones such as the smart-phone and other tablets has demanded smaller formats of music like the MPH. This has increased the demand for online music stores like Tunes. Furthermore online services like Spottily and You Tube offering free music needs to be taken into consideration as well. The music industry has decreased the prices on Cads in an effort to increase sales of Cads and to increase market shares.Besides decreasing the prices on Cads the large record companies have increased their marketing budgets to promote their artists. This makes it very difficult for the independent small record companies to compete. So the record companies can by larger marketing budgets increase their market share and stay dominant on the market. Conclusion After an analysis of the five market forces it is responsibility and risk. The record companies hold a larger financial risk and accessibility in order to promote their artists.