Judith Butler on Gender Trouble, Sex and Identity - 717 Words

In order to do someone Justice we must take the subject out of subjectivity. In Judith Butlers gender/sex/desired gender trouble, identities are defined as subjects created through discourse and have no axiomatic definition. Butler attempts to show the reader that identities formed to gender and sex are singular forms of linguistic categories that are subjective to change. Gender for instance, rephrase to the socially constructed characteristics of masculinity and femininity. Inasmuch as identity is assumed to the stabilizing concept of sex, gender, and sexuality, the very notion of the person is called into question by the cultural emergence of those incoherent or discontinuous gendered beings hope youre to be persons but failed to conform to the gendered norms of cultural intelligibility by which persons are defined. The point here that butler wants us to understand is that as society constructs these subjects that individuals come to represent them and then challenges us to see ho w these descriptions come from a heterosexual normative that would not work in queer spaces where one can be identified as biologically neither male or female. For Butler performative femininity and masculinity are defined to hetero normative sexuality that ratifies it as the natural, while putting/keeping that normative subjects in a powerless or an important position in society. Butler argues that whether traditional or not we all perform a gender identity, and we must get past questioningShow MoreRelatedAnalysis Of Gender Trouble By Judith Butler1710 Words   |  7 Pages Judith Butler’s book; Gender Trouble: Feminism and the Subversion of Identity explains everything from sex versus gender to feminist identity. Not only does Butler add on her own beliefs and thoughts but also considering work of another theorist such as Simone de Beauvoir and Luce Irigaray. Judith mainly focuses on Simeone de Beauvoirs novel â€Å"The Second Sex† and â€Å"Speculum of the Ot her Woman†. Judith’s Butler’s main question throughout her novel is; â€Å"Are we assigned our gender at birth orRead MoreA Brief Look at Judith Butler831 Words   |  3 PagesJudith Butler questions the belief that behaviors of either sex are natural. She proposes a rather radical theory that gender is performative and that sex is constructed. When gender is being performed, it means that someone would take on a role, acting in such a way that gives society the idea of their gender and constructs part of their identity. To be performative means that we produce a series of effects.Gender is constructed and is not in any way connected ‘naturally’ to sex. Nobody is bornRead MoreReflective Assessment : Being That I Am A Sociology Major1470 Words   |  6 Pagesat Kingston University is discussing sex and gender because gender is relational; it concerns both women and men. Primarily, I will discuss Judith Butlers ‘performativity’ and explain how females and males gendered roles are performed naturally. Furthermore, Simone de Beauvoir’s novel, The Second Sex hugely became an influential book, which involves sexuality, family, workplace, and reproductive rights and she distinguishes sex and gender and states that gender is gradually acquired. Lastly, I willRead MoreThe Social Construction Of Black Female Sexuality1411 Words   |  6 Pagesthe many social phenomena’s I have been interested in during my time at Kingston University is discussing sex and gender. Primarily, Judith Butlers ‘performativity’ explains how ‘females’ and ‘males’ gendered roles are performed naturall y through a routinely stylized behavior and how gender exist only because it is being acted out and performed. Furthermore, Simone de Beauvoir’s, The Second Sex hugely became an influential book during the second wave feminism, which involved sexuality, family, workplaceRead MoreGender and Postmodern1508 Words   |  7 Pagesargumentative essay on ‘Gender’ through comparison and contrast of the views of authorities who are postmodern practitioners† Introduction Defining postmodernism as well as gender is an extremely difficult task if not impossible. This essay is an argument on the two postmodernist’s concept on ‘Gender’. This essay argues posing foucauldian postmodernism of Judith Butler against Baudrillardean post modernism of Arthur and Marilouse Kroker with analysis on both their ideas on gender including sex and sexualityRead MoreEssay on Judith Butler and Postmodern Feminism2618 Words   |  11 PagesJudith Butler and Postmodern Feminism What necessary tasks does Judith Butler identify for feminist criticism? How is her articulation of and response to these tasks characteristically postmodern? She has no identity except as a wife and mother. She does not know who she is herself. She waits all day for her husband to come home at night to make her feel alive. This sentiment lay buried, unspoken, for many years, in the minds of American women, until In 1960, the problem that hasRead MoreAnalysis Of Judith Butler s S Gender Trouble2691 Words   |  11 Pagessocial abjection . In Judith Butler’s Gender Trouble, she identifies a need for a new interpretation of gender against the previous regime of ‘gender hierarchy and compulsory heterosexuality.’ In this essay, I will argue that Judith Butler’s approach to gender politics is an improvement on previous attitudes towards homophobia. I will do this through a close contextual reading of Butler’s work, particularly Gender Trouble and her article Imitation and Gender Insubordination. Butler calls for a more fluidRead MoreSigmund Freud Commentary On Psychology1529 Words   |  7 Pagesof evidence for these claims, as well as his tendency to brush off any data that proved him otherwise as irrelevant, means these claims are unsubstantiated and not reliable at best. Judith Butler Commentary In this extensive essay, Butler delves into the concept of gender constitution and the idea of performative acts. She poses the question that maybe humans should not be taken at face value or the value of their physical or biological self, as they are merely performingRead MoreGender Faced By Judith Butler1620 Words   |  7 PagesWhat is gender marking according to Judith Butler, (From Undoing Gender) and how can this theory be applied to constructions to racial identity in the Western world? According to Judith Butler’s 1990 book Gender Trouble, presented a new concept for looking a t sex and gender. As contrary to the fixed masculine and feminine gender binary, Butler insisted that gender need be perceived as fluid, variable; the aspect of people’s behavior at various times instead of who individuals are. Butler proposedRead MoreDoes Mulan Overthrow Oppressive Gender Norms?1308 Words   |  6 PagesMulan overthrow oppressive gender norms? In 1990, a novel was written by philosopher Judith Butler titled Gender Trouble. The importance of this novel was evident as it was a very controversial yet interesting analysis of the way we humans look at the topic of gender and sex. She explains throughout the book that our gender norms have been created by our ancestors and society. To many, crossing this boundary set by society is very deviant. Eight years after Gender Trouble was written, Disney released

Marriages are a big responsibility in many different...

Marriages are a big responsibility in many different reasons. For instance, if the marriage is blessed with a child that is one big responsibility. They are responsible for nurturing, providing and protecting their children. Also they should be role models for their children. Another big responsibility is when they make a long-life commitment to be true to one another in good times and in bad. God can also be a part of the relationship. The participation involves the complete love, trust, and respect between the couple and with god. Some spouses cheat and also fall out of love. When it comes to relationship and marriages, there is nothing more magical or fulfilling then falling in love. It’s not surprising that falling out of love is one†¦show more content†¦Another way is listening to your spouse express hurt feelings about the infidelity. This could also be difficult for men; this could sometimes be difficult with women too. By listening to the hurt feeling you have caused is not necessarily from indifference, which is hurtful for you to even think of you self as the â€Å"bad guy†. Also meet your spouse’s emotional needs in ways you haven’t before. Not just trying to change your marriage you should be trying to improve your marriage. Help your spouse feel more loved than ever before. Together you need to regain the love, try to trust again, and show you spouse that you behavior has permanently changed for the better. What can help repair infidelity? †¢ Counseling and therapist †¢ Promise to stop the affair †¢ Take responsibility †¢ Show you spouse empathy, no matter what †¢ Expressing your feelings †¢ Telling the truth †¢ Listening to one another †¢ Changing your ways Spouses are in abusive relationships and just want to get out. But when you know you are being abused, you need to do something about it for your own good. If your spouses is making you feel bad about you and unworthy he must not care about you as much no more. Mostly the women get beat on by the man or threatened a lot. But it also start off with the arguing which leads to the fighting and beating. Not only is it physical abuse, women also get emotionally abused. Some men that are usually beating on women does notShow MoreRelatedThe Supreme Court Of The United States894 Words   |  4 PagesMany cases have been filed to the Supreme Court of the United States to legalize gay marriage, but the Supreme Court was reluctant to legalize it because it contradicts with most religions, including Christian religion. However, very recently the Supreme Court by 5-4 has legalized the same sex marriage. People also were divided into two groups. The first group were mostly conservative whom see this kind of marriage contradicts with their religious belief, opposed the decision. Second Group has welcomedRead MoreThe Elements of an Effective Relationships and Daily Strains1352 Words   |  6 Pagesbetween a man and woman was considered normal. The man played the dominant role in the relationship. Meanwhile, the woman role was to be submissive to her husband. Totally, different in today world! Over the years, roles have reversed dramatically amongst man and woman. Case and point, women have taken on more responsibility in the workforce and home life. The men have relinquishes some or most of their control. Exchanging roles in a relationship without expressing feeling can cause havoc. UnfortunatelyRead MoreArranged Marriage vs Love Marriage1619 Words   |  7 PagesArgumentative Essay Arranged Marriage Vs Love Marriage Marriage is a relationship that bind of a spouse in formal event and registered by law as to declare a husband and wife. Marriage is key to form a family into larger as a basic unit in social system. Marriage also bind of the emotional relationship where both spouse are sharing their life together as to form a family. It is the joining  of two people in a bond that putatively lasts until death,  but unfortunately in a real life is increasinglyRead MoreSame Sex Marriage Should Be Opposed1246 Words   |  5 PagesFor many years, marriage has always been a covenant between a man and a woman which is a nature ordered and a social norm. A family is created by a lawful marriage of a man and a woman which leads to the procreation and education of their children. However, calling something marriage does not make it marriage is a big issue that needs to be discussed in this topic today: Same sex marriage. In facts, there are still two different opposite perspectives between the supporter s and the protesters. RecentlyRead MoreThe Dissolution Of Marriage Bonds1511 Words   |  7 PagesThe dissolution of marriage bonds in the society today is no longer an issue spoken in hushed tones behind doors as in previous times. Statistics have indicated an increasing rate of divorce in countries like Belgium and Chile as being very high and only a few places like the Philippines depict low rates (Kittleson, et.al, 2005). It is on account of these developments that we seriously ponder and guess on what really caused the sudden rise. Is it a problem with the individual or is it society’s drawbackRead MoreToo Naà ¯ve for Marriage Essays994 Words   |  4 PagesPeople should really think about what they are going to do because marriage is a huge step. Although there is no law that states what age someone can get married, I think that getting married younger than twenty-five can be a terrible mistake because the couple is probably immature, not stable and not committed. The first reason why people should not get married younger than twenty-five years older is because they are too immature. Marriage is great, especially if it is with somebody with whom it is worthRead MoreModern Lovers By Emma Straub1347 Words   |  6 Pages This shows a possible positive outcome for their questionably divorceable marriage. Elizabeth takes control over the movie rights plotline, by forging her husband’s signature, giving the movie a greenlight. Andrew continues his work with David from EVOLVEment, even agreeing to invest in a new hotel project. Previously, I explored the topic of divorce in the story, since it had been brought up in Zoe and Jane’s marriage, but I noticed some tension in Elizabeth and Andrew’s relationship as wellRead MoreJapanese And Muslim Cultures : Family Structure1340 Words   |  6 PagesJapanese and Muslim cultures are extremely different and interesting, which makes for a great analysis. By drawing on themes of family structure, marriage and child rearing, gender roles, child socialization, and divorce and child-custody, I can further explain my point about how diverse these cultures are. Type of Families Family Structure The Japanese culture has a dualistic structure of family; the nuclear and the stem. The nuclear family traditionally consisted of the parents and their childrenRead MoreWorkplace Diversity And The Workplace853 Words   |  4 PagesWorkplace Diversity Many outstanding articles, books, journals and papers have been written regarding the topic of workforce diversity. Some are relatively short papers such as Diversity in the Workplace published by the University of Florida, and seek to provide the reader with a basic understanding of what is meant by workplace diversity, as well as the potential benefits to both employers and employees alike. Other resources can be significantly more in-depth and explore subtopics of workplaceRead MoreWhy People Commit Crime? Essay1621 Words   |  7 Pagesnot commit crime. By creating a better understanding of desistance the criminal justice system experiences benefits in the form of, lower crime rates, less crowding in detention centers, and most importantly more productive members of society. The reasons as to why individuals desist from crime can range from genetic, environmental, social, or psychophysiological. One belief focuses on the idea that criminals desist from crime through pro-social development and a worthwhile career path. Criminologists

The Personal Network Solutions Division of Sony Free Essays

string(71) " markets have had to change the way in which it manufactured machines\." Sony, â€Å"Manufactures, markets and sells consumer and professional audio and video equipment, telecommunication products, computer and peripheral products, recording media and energy products, semiconductors and other electronic components.† (sony.com) It is a very broad company that operates in many different business areas. We will write a custom essay sample on The Personal Network Solutions Division of Sony or any similar topic only for you Order Now The focus of this assessment is centered on the personal network solutions division of Sony. Personal Network Solutions Co. (PNSC) Handycam ® and Digital Handycam Camcorders Digital Mavica ® and Cyber-shot cameras Glasstron ® audio/video eyeware Online photo service â€Å"Image StationSM† Memory Stick ®digital media products VAIO ® (Video Audio Integrated Operation) personal computers Trinitron ® computer displays CLIÉ ® handheld device Sony operates in five business units. The computer and digital media devices both fall under the same unit at Sony. Sony does have the benefit of many business strengths. The most notable of which is its business name. Sony products have a reputation for being â€Å"before their time† as far as the features many of them have. Many Sony products demand a premium price for being such a technological masterpiece. Sony has continued to use this premium price scale in its computer line as well. By doing so it prices itself out of the value or budget line that many consumers seek. Sony has a reputation for producing high quality electronic devices and has also developed a loyal customer base. Sony is able to gain customers from an early age with its video game systems PS One and PS 2. Sony could feed off of this and make these customers attracted for life. Sony products are always on the cutting edge of technology. Sony has always pushed the envelope on design and cannot stop if it hopes to remain an electronic powerhouse. Sony hopes to expand its electronic market with the recent introduction of its CLIE† PDA or personal digital assistant. Competitors of Sony†s have dominated this area and now it should be able to compete. As with most companies, where there is strength, there is also weakness. This is definitely true at Sony with its biggest weakness being its inability to distribute its high end products as quickly as the market is demanding them. This was very evident during this past Christmas when Sony released the before mentioned Playstation 2. Demand was so high for this product that it is just now available in the stores as production and distribution has met up with demand. It did not help that there was a defect in the first shipment of the machines to the US and many who had to wait in long lines ended up with useless devices and had to wait until more arrived to have theirs replaced. Being on the cutting edge of the technology field makes opportunities always around the corner. However the work must be done to make it to the corner. Sony puts the needed resources into its research and development of all of its products. Without a doubt, Sony produces some of the most high quality electronic devices in the world. Now it would like to do the same thing in the computer market. Sony first started producing consumer pc†s in the mid 90†³s. Since then it has concentrated primarily on the consumer pc and especially the smaller format or laptop version of the pc. This represents a definite opportunity with which Sony could gain even more of the consumer electronic market. As with all companies there are many threats, which must be considered when conducting business. Some of these threats come from outside the company as some of them come from within. One such outside threat is that of the United States economy. Consumers are much less likely to make major purchases, such as a new computer, during times of economic trouble. While control of the entire economy is out of the hands of Sony, it can make some changes to assure that economic trouble does not completely cause the company to shut down. Sony is also entering an area of electronic business that they are not as familiar with. All electronic products eventually become obsolete. The computer sales market is one electronic area that is very time volatile. Newer, faster computers are always being released. Sony has for a long time operated in electronic business that has not been as technology and time sensitive. Current market conditions for Sony are not where it would like for them to be and are not at levels seen in past years. Much like other technology companies, Sony is in a transition period in which it is trying to find its permanent location in all markets. Sony has a main goal of staying ahead of the competition as all electronic devices enter the digital age. Current Conditions and Alternatives Sony†s current market emphasis is based on offering a consumer driven product line with some business products available in various markets. Sony has not been able to keep up with other computer specific companies in the areas of business applications. â€Å"I don†t recommend any Sony products [to business users] since they don†t have the infrastructure to match a Dell or a Toshiba or a Compaq,† says Ken Dulaney, vice president mobile computing at Gartner Group. â€Å"Their products are more applicable for consumers; they don†t work with businesses.† Sony may not be able to match the competing computer companies on the basis of size, however it is able to compete in terms of quality and technology. Many of the features available on a consumer pc’s are not available on business pc†s. Sony could remove some of the more ‘neat† features that its pc†s have and develop a line that would better suit a business application. There is no way to gain a full understanding of how the Internet and access to it has changed the way computers are used and designed. Computers today are much more advanced that those purchased only a few years ago. For those reasons, companies who had previously been involved in computer markets have had to change the way in which it manufactured machines. You read "The Personal Network Solutions Division of Sony" in category "Essay examples" Sony has the benefit of being fairly new to the computer business and an understanding of the need to adapt to changing broadband technology. CEO Nobuyuki Idei stated, â€Å"What we are and will be is a broadband entertainment company,† in his 1999 vision of the company. Even though there have been some management changes the desire to stay on top of broadband entertainment is still present at Sony. (pcworld.com, surprises, 1) â€Å"Every chance he gets, the 62-year-old Idei spreads the word about Sony’s future as an Internet company: Everything from the venerable Walkman to the popular PlayStation game console will soon connect to the Web.†(businessweek.com, Slump at Sony, 1) With new technology always around the corner, Sony must continue its current plan of being a broadband company. Sony has many new products in use today that take advantage of technological advances that have previously been unseen. For Sony to remain a leading edge electronic company it must continue with current company plans. There are many possible alternatives in which Sony can and should pursue. Many of the alternatives are time based and could not be made immediately. However, as Sony is well aware, to compete in an industry that is constantly changing, you, yourself have to be able to make changes as well. Sony could focus the majority of its attention to the cash cow it current has in the video and electronic market. This of course would be its Playstation 2 video game system. This system has already sold over 10 million units and Sony currently expects to sell 20 million in the 01-02 fiscal year due to increase in the production speed of the system. Sony will soon be seeing a new competitor enter the market of its video game system. Microsoft will be releasing it†s own version of a video game system that has many critics panting. Many believe that the new system by Microsoft will be the biggest direct competition in the video game field for Sony since it has entered the field. There is a huge demand in the computer field for compatibility of products. Sony has made it possible for several of its computer products to use the same format of small removable memory. Better know as the Memory Stick, the chewing gum sized ‘card† has ability to store both music and video on a single card. Thus the card can be used in Sony†s video camera line; it†s VAIO line of personal pc†s as well as the long time favorite, Walkman music device. It would also be possible for Sony to enter the business computer field of the market. Although there is definite competition in this market, Sony has the technology in its research and development department to make the business machines fly. The only downfall to this idea is the fact that Sony products are so highly sought after for the ‘neat† features that it†s products posses. To remove features from its current line to make them affordable to the business field would be an image-changing move. Sony products demand a premium price that business customers cannot afford to pay for. Sony joined the major players in the computer business with the introduction of it†s VAIO Direct website where consumers can purchase computers directly from the company. Although not as fully customizable as other companies† computers, Sony still allows the user to make some changes that defiantly affect the performance and function of the machine. Along with this Sony could expand it†s variety of computer uses to include specific areas or markets. The company has already shown its ability to manufacture a top level gaming system for the home. Why could it not take what it has learned from this development and manufacture a gaming specific line of computers that was easily upgradeable as new computer technology becomes available? Along with the gaming pc, there are other areas that could benefit from specifically designed products. For a long time the Apple computer has been the choice for those interested in making movies on the computer. With Sony†s ever increasing line of video cameras and accessories, it is only logical for it to create a movie specific line of pc. Computer design companies pay large prices for computers that are capable of running memory intensive design software. Sony could enter this market with a product designed specifically for the computer drafter. Many believe the next explosion of use for the computer will come in the automobile industry. As time goes by more and more automobiles are incorporating a type of computer into the vehicle. This unit does basic functions such as check e-mail and assist with driving directions. Sony could join efforts with its audio development division to produce an affordable and effective automobile pc. Sony is a world leader in the electronic business. It is new to the field of personal computers. Sony has used its past experience to set up a basis for operation in the computer business. There are some changes that it must make if it wants to remain in the computer business however. Sony should continue with its current plan of producing consumer pc†s and try to avoid the general business market. Consumer pc†s vary from those of business pc†s in both features and price. Sony would have to remove features from its computers while at the same time dropping the price to make them an affordable business option. This decision would change the image of Sony computers from a feature packed, top of the line computer, to one resembling the mainstream computers. Sony should also enter the market specific computer business with models available in three different fields: movie making, drafting, and gaming. With these market specific pc†s, Sony could still include all of the features that make its computers enjoyable to own while adding necessary hardware or software to enable them to meet the specific demands of each field. Most specifically, Sony should definitely create a computer designed with the computer gamer in mind. Sony has reached millions of children with the production of the Playstation line of home video game systems. From here, it should continue with a computer for the children to use as they grow up. The unit should be easily upgradeable but feature all necessary parts from the beginning. With its strong brand recognition, this would, in tern, help in the sales of all Sony electronic products. Sony has made a major advance in its distribution methods of its computers. With the opening of the VAIO Direct website, Sony gave its consumers the ability to customize computers to some extent. The competition of Sony allows its customers to fully customize its computers. If Sony wants to remain at the forefront of the computer business, it must allow the machine to be adapted to specific uses. Much like the customized computers for various markets, Sony must also make its normal computers customizable to the average consumer. This variety in design will help Sony receive the premium prices that it has demanded in the past for its top-notch products. How to cite The Personal Network Solutions Division of Sony, Essay examples

Factors for Early Stage Building-Free-Samples-Myassignmenthelp.com

Questions: 1.You are required to select one group and explain how the factors in the chosen group generally affect accuracy of building cost estimating. 2.Compare and contrast in a table commonly used preliminary estimating techniques including elemental estimating in the construction industry, covering criteria such as description of the method, accuracy levels, level of information required, popularity in the industry and convenience to use. Answers: 1.Early cost estimates The early cost estimates are for the construction projects that are set under the high degree of uncertainty. This is mainly due to the limited forms of the information that are for the accuracy of the cost estimates. Here, there is no variation when it comes from the exact costs and how the cost is incurred for the execution of project. (Al-Zwainy Hadhal, 2016). The estimated amount helps in the proper decision making with the implementation of the cost set at the later time. The importance of the preliminary is mainly due to the reference for the commencement of the project with reference for the next stage. The accuracy cost is important that works on the stages of project development. Factors for early stage building The costs estimation is based on forecasting the project costs and then work on the performance which is related to the amount of information which is for the detailed designing. Here, the pre-construction is for the three important aspects with biasing, consistency and the accuracy of the project estimate. The biasing is also for the average differences that is set in between the real prices and the forecasted ones. Hence, for this, it is important to map with the degree that is for the variations created through the biasing. The estimates are important for the projection and to calculate the success that depend on the precise value of the accuracy of the project estimation cost at different stages. (Akintoye Fitzgerald, 2000). It has been seen that the cost of the construction for the material includes the shipping charges and the taxes which are applicable. The importance is based on the variations and the calculations that are for the construction of the material cost. The const ruction estimates are depending upon the needs that are important to be factored with the current construction cost indices. They are set for the labor wage rate where there are variations based on the place to place patterns. The issues related to the construction site conditions could also lead to the increase in the cost of construction like the poor soil conditions, wetlands and the sensitivity area. The endangered species and the habitat could lead to the increase of the cost with the variations that are not impotent at the time of estimation. The quality and the plan are depending upon the reduced construction time with the proper execution to handle the site depending unpin the delay. Along with this, there are other forms of the regulatory requirements which are important for the costs that are considered for the cost estimates. The insurance requirements with the administering of the different tools and the equipment is important for the proper performance bond and the paym ent bond that is set at the normal costs of the construction projects. Market conditions which affect the factors: Material Price, quality availability For the construction buildings, the management is important for a proper project planning and control. Here, the procurement and the purchase cost is important for the reduced costs. The poor material management can also lead to the large and the avoidable costs that is set at the time of construction. Hence, when the material is purchased early, then it should be tied with the inventory of the materials. The quality is also important for the procurement along with the availability of the material. For this, the activities need to be based on the schedule of the project with the fast track or the tight schedule so that the easy availability of the material is possible. Along with this, the quality is administered with the planning systems and for the master production schedule, inventory records and the product component lists. This helps in ordering the problems and setting the inventory based on the organizational management problems. Here, the inventory is also found to be low when there is a new order which is recommended. Hence, for this, the items are found to be non-standardized or kept in the inventory form. The material procurement and the management is based on easy handling of productivity from 1.92-man hours per unit without a system. (Harrington Johnston, 2016). With the change in economy, there are issues related to the changing material pricing. The price increase is considered to be the natural part which is for working for a particular business. This is related to providing a better associate functioning that relates to handle the offsets with the measurement of the rising insurance costs. The manufactures need to handle the competitors so that there is a proper balance of the quality and the pricing that is used for the construction. The material management is important for the proper setup and controlling the correct quality. This is based on specific formats where there are reasonable costs patterns and the points are related to the representation of the cost of the work and how the improved opportunities are able to work with the improvement in the substantial savings. There is a possibility that the materials deteriorate at the time of storage and get stolen till the time a proper care is taken for the same. Hence, for this, the maj or focus is on the productivity in the construction where the different factors are related to the internal workforce and the factors with the leadership. There are materials and the equipment to take hold of the supervisions with the projects related to the characteristics of security, quality and the other related external factors. 2. Preliminary Estimating Techniques 1. This includes the activity to work on the execution of the task base on a stipulated sum where the technique is mainly to forecast any of the cost incurred for the building or the construction. 2. The control is to make sure of the forecast of the project along with assisting the clients with the financial commitment to the project. There is a possibility to alter the cost with the request from the client. (Taranth, 2016). 3. The method used are unit, cubic and the floor area. 4. The selection is based on the information and the time which is important for the Quantity Surveyor with the total type of cost data. the cost estimate is for the accommodation and to work on the designing with the proper calculation from the sketch designing. (Brook, 2016). 5. The major advantage is the fast and the easy method of the unit method which is used with the easy preparation of the monetary allocations. Here, the cubic method is based on the estimations where the floor area is for the estimations where the client and the architect could work on understanding the concept of the floor area. It is then associated to the concept of the volume method where the cost data is from the previous methods. Elemental estimating 1. This is based on the comparing design alternatives which is important when the client has a budget and want to check for the best economic designing. The estimates are for the secured financing and the presentation for building the potential inventory, financier etc. 2. The elemental cost plan can help in keeping a check on the costs with proper designing stage that is set prior to the preparation of the Bills of Quantities. 3. Here, the major focus is on the elemental cost analysis which is important for the people to involve in the project and show the cost breakdown by the building of the elements. 4. The standards are set to identify and adjust depending upon the cost planning where it is important to keep the budget of the client in mind at the time of designing. Here, the main elements are analyzed with the BOQ items which are closer to the tender value and for the plan of adjustments. 5. The elemental designing is for the establishment of the cost of constructing a project where the analysis is based on the elemental basis of the other similar projects. The detailed advice is set for the designing with the approximate qualities. References Akintoye, A. and Fitzgerald, E., 2000. A survey of current cost estimating practices in the UK.Construction Management Economics,18(2), pp.161-172. Al-Zwainy, F.M.S. and Hadhal, N.T., 2016. Application Artificial Forecasting Techniques in Cost Management.Journal of Engineering,22(8). Brook, M., 2016.Estimating and tendering for construction work. Taylor Francis. Harrington, P. and Johnston, M., 2016. Commercial Building Learning Rates Final Report. Taranath, B.S., 2016.Structural analysis and design of tall buildings: Steel and composite construction. CRC press.

Capital Structure and Budgeting free essay sample

A paper which examines the components and calculations of weighted cost of capital using a case study format. Need write the essay? We know how. This paper examines a method for estimating targeted capital structure using data extracted from a firms financial statements. The weighted cost of capital (WACC) with its components: debt, common and preferred stock are calculated. The cost of retained earnings is calculated and explained. Issues regarding the computation of net present value (NPV) and internal rate of return (IRR) are explored in relation to capital budget questions. Additional issues management should evaluate when considering capital expenditures are discussed. For most firms the average cost of capital is the combined cost of capital raised from the sources that the firm uses (Brigham Ehrhardt, 2002a, p. 421). Each capital component will have its own minimum rate of return, expected by the investors, who provide that form of capital (p. We will write a custom essay sample on Capital Structure and Budgeting or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 421). This combined capital cost is termed the weighted average cost of capital or WACC (p. 421). Typically capital is obtained from the components of debt (preferred and common) and stock (p. 420).

Book Report Outline A Step-by-Step Guide on Formatting a Book Report

Book Report Outline A Step-by-Step Guide on Formatting a Book Report Book Report Outline Book report writing is a task that is typical of the K-12 level. By writing this type of assignment students practice to read, sum up what has been read and express their thoughts clearly and concisely. Sometimes, when students face the challenge of book report writing, they dont know where to start or what to do. In the meantime, this assignment can be easily done if a book report format is followed. Here is a brief book report outline that will help you to cope with your assignment effectively. HOW TO WRITE A BOOK REPORT Book report is a form of an essay and as such should begin with an introduction. The introduction contains basic book and author info, including title, author of the book, year of publication and some additional information. Here is what your book report can begin with:  Ã¢â‚¬Å"[Insert Book Title Here]† written by [Author Name] is a [novel; short story; poem, a piece of fiction] that was first published in [Year of Publication] by [Who Published it?].  This work is believed to be one of the author’s best works [or hasn’t been recognized at the time of publication]. The author wrote it as a response to [revolution; war; political changes; social issues etc]. As a result, this piece of writing immediately became popular [or was prohibited; wasn’t recognized]. For this reason, it can be best understood within the context of these events. BOOK REPORT TEMPLATE Now it’s time to move on to the body of the book report. In this part, you can briefly mention main characters of the book and explain them. You can use the following phrases:  There are several characters in this [book, novel, poem etc] who are important for understanding it. [Character 1] is the protagonist of the story and is†¦ [describe this character, say a few words about his/her appearance, whether or this character is positive or negative, whether you like him/her or not etc].   Follow the same pattern to describe other characters in the book. Use quotations and additional evidence to support your claim.  Next step is your plot summary. Since book reports rarely take more than 250 words or one page, bear in mind that this part should be rather brief. Mention key plot events, the entire description shouldn’t take more than 3-5 sentences. There’s hardly a specific pattern for a plot summary, so just use your own words and judgment to come up with it.  The final step is mentioning things like themes, symbols, and motifs. This part is optional, and you need to follow your instructions closely – if you are required to do it, do it. Otherwise, it will unnecessary work. TOP 25 BOOK REPORT IDEAS Close up with your brief evaluation:  Overall this book [novel, poem, fiction] leaves as positive [negative] impression and I would [or would not] recommend it to other readers. If you feel you need assistance with book report writing, contact our support team or place an order and we will gladly help you.

The Station nightclub Fire Investigation Essay Example | Topics and Well Written Essays - 1500 words

The Station nightclub Fire Investigation - Essay Example This paper covers The Station Nightclub fire, 9/11, and the Minneapolis bridge collapse. The recommendations presented in the final report of the disasters are then discussed, as well as how they relate to the overall point of the thesis. Then, two recommendations from the report are selected and related to the materials studied and learned in the course. Everyone desires for the country to be filled with safe buildings and a solid infrastructure. It is even natural for one to expect for a building to be safe to enter or for a bridge to be safe to cross. Most people do not even think twice about it when they are entering a structure or driving down the road—they just assume they are performing a safe activity and that the individuals responsible for constructing the structures they encounter have done their job in a safe and reliable manner. As one can tell from the following cases, however, this is not always a reality. As can be seen in the cases of The Station Nightclub, 9-11, and the Minneapolis bridge collapse—along with the recommendations from authorities following the disasters—the nation’s infrastructure is in bad need of repair. A fire occurred on the night of Feb. 20, 2003, in The Station nightclub at 211 Cowesett Avenue, West Warwick, Rhode Island. A band that was on the platform that night, during its performance, used pyrotechnics that ignited polyurethane foam insulation lining the walls and ceiling of the platform. The fire spread quickly along the walls and ceiling area over the dance floor. Smoke was visible in the exit doorways in a little more than one minute, and flames were observed breaking through a portion of the roof in less than five minutes. Egress from the nightclub, which was not equipped with sprinklers, was hampered by crowding at the main entrance to the building. One hundred people lost their lives in the fire. On Feb. 27, 2003, under the

Sexual orientation discrimination Research Paper

Sexual orientation discrimination - Research Paper Example A lot has been done to curb this. Since the employers are the primary stakeholder, they have been encouraged to consider policies and procedures that respect the sensitivity and respect of every individual sexual orientation. Besides, the government has enacted laws to protect the workers in this context. It is paramount to understand that people of all sexual orientations should experience a welcome and be safe in the places where they work and enjoy a dignity treatment. Sexual orientation discrimination refers to, how employers treat employees unfavorably or harass them on the basis whether they are gay, lesbian bisexual or heterosexual (Joslin, 2004). Since any discrimination is discouraged at the workplace, this is not an exception. It is undesirable. Therefore, the government has tried to pass laws to discourage this type of discrimination. Unfortunately, the attempts to come up with straight laws to protect these individuals have been unsuccessful in the federal government although there are more bills being prepared (Badgett, Lau, Sears, & Ho, 2007). Despite this, the law does not encourage discrimination based. There is an Act that protects individuals from this type of discrimination. It is enshrined in the title VII of the civil rights act of 1963. This law prohibits workplace discrimination that is based on among other factors, sex of the individual. This includes the sex orientation of an individual. These laws aim to bring relief against discrimination in accommodation to public and private institutions (Malos, 2007). They persuade the employers to employ to promote equal employment opportunities in the workplace. On company practices, this law restricts the employers from, first failing or refusing to engage any individual on the basis of the sexual orientation (Badgett et al., 2007). This means that any qualified person whether male or female has equal chances to enter into

Managment methodologies of the military sector compared to the Research Paper

Managment methodologies of the military sector compared to the civilian sector - Research Paper Example There are certain principles of management which must be applied both in the military and the civilian sectors in order to enhance management. In the same way, considering the different cultures realized in these two sectors, it is fundamental to note that certain principles applied in the military sector cannot really work in the civilian sector. While discipline and chain of command is highly required in the military sector, it is not really a major concern in the civilian sector. The primary focus of management in all the sectors is basically to create a balance between efficiency and effectiveness. Principles In the civilian sector, the focus is to ensure that the customers are well serviced and satisfied. In this case, the employees must be managed effectively in order to realize this goal. If employees are not satisfied, it is evident that they will not really offer the best services to the customers and this limits efficiency and effectiveness. In the military, the officers mu st keenly weigh the aspects of effectiveness and efficiency considering that military missions call for high efficiency in operations (Christiansen, 2010). The inverse relationship between effectiveness and efficiency must be understood by the managers in all the sectors. There are four principles of management that cut across both the military and the civilian sectors and should therefore be a focus. Planning Planning is essentially a continual process and includes both short term and long term plans. Goals and objectives are normally set to be achieved within a given timeframe. For instance, the preparation of the budget is a planned process and cuts across both the military and the civilian sectors. Organizations usually have their short term and long term plans which are usually formulated well in advance. In the same way, such plans are common in the military sector. For instance, the Department of Defense has a document called the Five Year Defense Plan (FYDP) which it continu ously revises (Higbee, 2010). Organizing A business or a military agency should organize itself into units or departments that are meant to address different concerns within the organization. These divisions are mostly done on the basis of functions, geographical areas, products or customers. It is highly important to ensure that everything is organized in the most effective manner in order to enhance efficiency. Leading The concept of management is essentially a process of conducting roles and duties through people. In this case, a good manager should have the ability to lead people effectively by putting the employees through the best motivational programs and ensuring they give their maximum to the organization. In the military sector, discipline is highly regarded but motivation and managerial effectiveness must always take center stage. The nature of military activities creates the need for the officers to be well motivated. Such motivations are realized through promotions, pay benefits and other forms of recognition. Controlling The aspect of controlling does not actually relate to people. Rather, it is a way of ensuring that the organization actually meets its goals and objectives as set forth in its plans. In this case, progress has to be measured in order to provide information on how any inefficiency can be addressed. In case the goals are not met, then it is important for different approaches to be applied or the goals

Acute Inflammation, Appendicitis In Young Adult

Acute Inflammation, Appendicitis In Young Adult Case Thomas is a 23-year-old graduate student that has been admitted to the emergency room with severe abdominal pain in his lower right abdomen. He has been experiencing the pain the last 2 days. Initially he experienced moderate tenderness in a general area around his lower abdomen. He has also been experiencing low appetite and nausea. Etiology The cause of appendicitis usually occurs as a result of the blockage of the opening of the appendix into the cecum. The blockage of the opening can lead to build up of mucus that may cause a variety of problems within the appendix such as swelling of the lymphatic tissue, thrombosis of vessels and increased internal pressure of the walls of the appendix. Bacteria that are normally found in the appendix may start to leak out of the appendix due to blockage. The bacteria can trigger a response from the body known as acute inflammation. Pathogenesis The obstruction of the appendix leads to increased intraluminal pressure. This causes constriction of surrounding vessels which results in decreased blood and oxygen supply to the appendix. This may result in necrosis of the appendix. The combination of increased intraluminal pressure and weakening of the walls of the appendix may cause may cause leakage of bacteria that is normally found within the appendix. The bacteria will trigger an acute inflammatory response of the body. The inflammatory response starts with the release of chemical mediators and emigration of neutrophils to the site of infection. Chemical mediators such as histamine, prostaglandin, leukotrienes, bradykinin, interleukin are released to mediate the inflammatory process. Histamine and bradykinin promotes vasodilation and increased permeability. Prostaglandins and leukotrienes can result in spasm and edema. This leads to swelling and pain of the appendix found in the right lower quadrant of the abdomen. Interleukin-1 is also released to increase the number of white blood cells. Neutrophils will attempt to recognize the infection and destroy it by ingestion. Ingested and destroyed bacteria will lead to pus formation (exudate). If not resolved, appendicitis can lead to further complications such as rupture of the appendix, which may lead to peritonitis (spread of infection to lining of abdomen and pelvis). Infection may also enter the blood and travel throughout the body which can be life threatening. Diagnosis Patients with appendicitis often have elevated body temperatures and pain and tenderness when palpated in the lower right abdomen. These symptoms can be found through physical examination. Further tests must then be done to verify any findings. An X-ray of the abdomen can be done to detect any obstruction that may be causing appendicitis. A swollen or enlarged appendix can be seen through ultrasound, however the absence of the appendix through ultrasound does not omit the diagnosis of appendicitis because it may not be revealed. CT scan can also be used when available and is usually more accurate in diagnosing appendicitis than ultrasound. Clinical Manifestations In early cases, decreased bowel function, decreased appetite may be an indication of appendicitis. Abdominal pain may not be localized and is dispersed throughout the lower abdomen. As appendicitis progresses it usually manifests in abdominal pain in the right lower quadrant. Nausea and vomiting may also occur due to obstruction. Treatment Surgical removal of the appendix (appendicetomy) is usually done. Antiobiotics may be given to reduce the spread of infection and pain medication may be used to manage pain. Prognosis Recovery from surgical removal is usually between 10 to 28 days. Appendicitis may also resolve spontaneously from inflammatory response. References G. B. Ryan, G. Majno. Acute inflammation. A review. Am J Pathol.1977 January; 86(1): 183-276. J R Johnson. Pathogenesis of acute appendicitis. Br Med J.1978 February 4; 1(6108): 305. Chronic Inflammation Rheumatoid Arthritis Case Betty is a 46-year-old woman who has been experiencing increasing pain in the joints of her wrists and fingers over the past year. Her symptoms have worsened and increased in frequency. She now experiences stiffness and swelling of the joints in her hand and also in her knees. She has since been diagnosed with early rheumatoid arthritis. Etiology Rheumatoid arthritis is a chronic inflammatory disorder that mainly affects synovial joints. The cause of RA is unknown. However it is known to be some form of autoimmunity in which unknown factors trigger the immune system of the body to attack its own tissues through inflammatory response. Pathogenesis There are many cell mediators that are activated in the body in a patient with RA. Changes initially occur at the synovial lining of joints. Symptoms arise mononuclear cells increase in number and accumulate around the synovium. This causes swelling of the joint. As RA progresses, its characteristics develop similarly to an acute inflammatory process. Many inflammatory mediators are found in the synovial fluid and progressively cause the destruction of the cartilage. A large number of neutrophils can be found which are mainly responsible for acute inflammatory response. Histamine, Cytokines and chemokines can also be found aiding in the inflammatory response. T lymphocytes also play an important role in RA by increasing production of antibodies that damage the synovium. These antibodies activate the bodys complement system which plays an important role in immunity and inflammation by destroying cells in ways such as cell membrane destruction, leukocyte activate, adhesion and phagocyt osis. Because the disease is autoimmune, inflammatory response occurs intermittently through life with no resolution (chronic). Diagnosis Diagnosis of RA is dependent on a set of criteria. At least 4 of the following criteria must be present: Morning stiffness that last about 1 hour, Arthritis of 3 or more joint areas (finger, wrist, elbow, knee, ankle, toes), symmetric arthritis, rheumatoid nodules, erosion of bone and reduced calcium in bones, and positive rheumatoid factor blood test. Clinical Manifestations RA generally manifests in symptoms involving the joints such as pain, swelling, tenderness, and stiffness. Rheumatoid nodules can also occur near the joints. RA can progressively lead to deformities of the joints such as the fingers and toes. Treatment Currently there is no cure for RA. Treatment is aimed at decreasing pain and inflammation and protecting the joints from further degradation and maintain function. Treatments can vary greatly due to the complex nature of the disease. This can involve rest to prevent inflammation and exercise to strengthen the joints and muscles. Medical treatments for RA are also available and include NSAIDs (non-steroidal anti-inflammatory drugs), steroids, DMARDs (disease modifying anti-rheumatic drugs), biological agents, immunosuppressive drugs and supplements. NSAIDs and steroids are mainly used as anti-inflammatory drugs and do not affect the progression of the disease. DMARDs are used to reduce the progression of RA but are not able to halt its progression. Biological agents are used to reduce destruction of the joints. Prognosis Progression of RA can vary from patient to patient. In most, the disease has a life long progression which eventually leads to some level of functional disability.

Pop Star Image and Influence of Video :: Television Media TV Essays

Pop Star Image and Influence of Video The pop star image has been growing ever since the start of Michael Jackson’s career in the 70s. Michael has made a tremendous impact on the careers of many of the big named pop stars of today. Pop stars throughout the years have also had a huge effect on the media and how the media portrays them to the general public. Currently pop music has approximately 60% of the top fifty songs, according to billboard magazine. This is a trend that has been increasing since Jackson started. The pop star image has definitely affected the general public but mainly the youth of the world. People like Britney Spears, Justin Timberlake, Janet Jackson, and many others that have preceded them have had a big impact on teenage boys and girls. Also pop stars play an important role in video images that appeal to everyone. I’m not saying that I like pop music or what they stand for, but I respect the fact that they influence media, videos, and people with the images that they convey. For example Britney Spears has fifty-nine websites that are dedicated to just HER. Can you believe that? Most of them are fan sites too. That is ridiculous. But you have to hand it to those pop stars; the way that they dance in their videos and the sexy clothing that where makes people want to be like them. The way that camera angles are set up in videos creates a very sensual atmosphere in a lot of videos. Also on the other hand a lot of pop stars grab public attention by singing about a controversial subject for example Christina Aguilera’s song â€Å"Beautiful† talks about the openness of homosexuality. It is not just pop stars however that sing about controversial topics other genres of music do the same thing, but the point I’m trying to make is that pop stars can influence their f ollowers through music videos and image that they have the right opinion on certain topics that affect everyone. The messages pop stars show in their videos and the image that present affect everyone in both positive and negative ways. For one thing many pop musicians have a strong influence on charitable organizations. You see them out there on celebrity Jeopardy playing for charity. Pop Star Image and Influence of Video :: Television Media TV Essays Pop Star Image and Influence of Video The pop star image has been growing ever since the start of Michael Jackson’s career in the 70s. Michael has made a tremendous impact on the careers of many of the big named pop stars of today. Pop stars throughout the years have also had a huge effect on the media and how the media portrays them to the general public. Currently pop music has approximately 60% of the top fifty songs, according to billboard magazine. This is a trend that has been increasing since Jackson started. The pop star image has definitely affected the general public but mainly the youth of the world. People like Britney Spears, Justin Timberlake, Janet Jackson, and many others that have preceded them have had a big impact on teenage boys and girls. Also pop stars play an important role in video images that appeal to everyone. I’m not saying that I like pop music or what they stand for, but I respect the fact that they influence media, videos, and people with the images that they convey. For example Britney Spears has fifty-nine websites that are dedicated to just HER. Can you believe that? Most of them are fan sites too. That is ridiculous. But you have to hand it to those pop stars; the way that they dance in their videos and the sexy clothing that where makes people want to be like them. The way that camera angles are set up in videos creates a very sensual atmosphere in a lot of videos. Also on the other hand a lot of pop stars grab public attention by singing about a controversial subject for example Christina Aguilera’s song â€Å"Beautiful† talks about the openness of homosexuality. It is not just pop stars however that sing about controversial topics other genres of music do the same thing, but the point I’m trying to make is that pop stars can influence their f ollowers through music videos and image that they have the right opinion on certain topics that affect everyone. The messages pop stars show in their videos and the image that present affect everyone in both positive and negative ways. For one thing many pop musicians have a strong influence on charitable organizations. You see them out there on celebrity Jeopardy playing for charity.

Macquarie Bank

?Introduction Macquarie Bank has been recognised as one of the most prestigious banks in Australia and around the world. Macquarie was established in Australia in 1969, it began operations in Sydney in January 1970 with only three staff. Macquarie Bank first opened its doors for business on 1 March 1985 with a retail branch in Sydney. Today, Macquarie Bank operates in a range of investment banking, commercial banking and selected retail financial services markets both in Australia and overseas. It is the only substantial, majority Australian owned investment bank and is a licensed trading bank under the Australian Banking Act 1959 (Macquarie History, 2007). Macquarie Bank has been consistently associated with a stream of major financial innovations, which have underpinned its reputation as a market leader. Their main focus that has helped them in their success is their risk management department as well as their focus on select markets on which they enter. The Macquarie culture is represented by the way in which they work together. The values to which they aspire can be summarised in six principles: integrity, client commitment, strive for profitability, fulfilment for our people, teamwork, and highest standards. Macquarie Bank’s commitment to the six principles is vital for continued growth and prosperity (Macquarie, About Macquarie, 2007) Operating Environment: The Macro Environment Political and legal forces Political and legal forces hold a great impact on all industries that wish to operate legally within a country. Regulatory groups are required within the banking industry to assist in the stable operation of a nation. A major regulator would be The Australian Prudential Regulation Authority (APRA). Various other major political and legal forces which solely influence the banking industry include The Australian Bankers’ Association (ABA), The Australian Securities and Investments commission (ASIC) and The Reserve Bank of Australia (RBA). APRA was created to be an advisory figure in the regulation of the Australian financial services industry. This group â€Å"oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, friendly societies, and most members of the superannuation industry† (APRA, 2007). The ABA works with its members to provide analysis, advice and advocacy and contributes to the development of public policy on banking and other financial services† (ABA, 2007). The ABA acts as a union for banks and ensures that the banking industries views are heard, when the government decides to alter policies or legislations. Th e ABA also helps to strengthen the benefits of competition to Australian banking customers. ASIC’s task is to enforce and regulate companies and financial services laws in order to protect the customers as well as the investors and creditors. ASIC exists to regulate; â€Å"Australian companies, financial markets, financial services organisations and professionals who deal and advise in investments, superannuation, insurance, deposit taking and credit† (ASIC, 2007). â€Å"The RBA’s main responsibility is the monetary policy† (RBA, 2007). The board members make the policy decisions with the aim of gaining a low and stable inflation over the medium term. According to the RBA website, the other major goals include; maintaining financial system stability and promoting the safety and efficiency of the payments system. The RBA also acts as a banker to the Australian Government and actively participates in financial markets, manages Australia’s foreign reserves and issues Australian currency notes. Global Forces Changes in the financial status of markets overseas, drops or increases in interest rates overseas, and even new political regimes can all affect organisations around the world. Global forces which have recently held an effect on Macquarie bank would be the current drop in the US economy which has affected markets all around the world. The main impact which it has made in Australia has to do with financial institutions since they hold assets from the US market. This has directly affected Macquarie with its financial services and products. Economic forces Economic forces pertaining to Australia can greatly influence the way businesses operate. General economic forces such as inflation rates, interest rates, currency exchange rates, unemployment levels, average disposable income, and personal saving rates can all affect organisations to a certain extent (Hill et al, 2004, p74). Inflation has affected Macquarie bank which then in turn goes to interest rates. Currently economic forces within Australia include rises in certain industries including the mining industry and real estate. By these industries entering a boom period, it increases the amounts which these industries will be willing to invest which in turn increases profits for banks. Technological forces In modern society with technology being so closely tied to having a competitive advantage, a lot of industries compete to keep up to date with new developments. The invention and increased use of computers, internet, and phones have all made a major impact on organisations around the world. The main effect that technological advancements have made within Macquarie bank is that internet banking is now a common and widely used item so banks need to constantly upgrade their technology in order to prevent hackers from entering their databases and causing havoc. Operating Environment: The Micro Environment There are many forces that can impact the outcome of a firm’s growth and profitability. For Macquarie Bank, the forces that impact their success will be explored with the analytical frame work introduced by Michael Porter; his five forces model, which will look at the major contributing factors that will aid and deter the growth of Macquarie Bank in this industry. Risk of threat of new entrants The risk and threat of new entrants into the market can be seen as both high and low. High, since there has been a deregulation of the market for banking, which will allow for overseas competitors to compete in the local market. This is a large threat since these are the competitors that have a large pool of resources that can actually compete to a high level with Macquarie. However, the threat can also be seen as low since there is still a high degree of entry barriers, i. e. operational regulations and laws implemented by the government and other regulatory boards. Additionally, a major factor that will deter competitors would be such things as brand loyalty as well as the over saturation of banks in the industry. Therefore, the threat of new entrants can be seen as moderate and is highly dependant on the entrant’s resources and capabilities. Rivalry among established companies The rivalry in the banking industry can be seen as discrete, yet volatile. They advertise in the media about their interest rates, products and services, however, apart from that, their actions are rarely seen. Each bank firm always try to gain the better package and interest rate to attract more customers. However, these rates are quite similar with little variance. A major factor that gives them the competitive advantage would be the image the bank upholds and the services provided in comparison. The main point of attack that most banks concentrate on now is their customer service area, since most of the services that they provide are quite similar. Macquarie has a very well maintained, high profile image. They provide a lot of diverse services; however, they charge premium service fees for them. This has not deterred people from using their services, but has given their users a sense of assurance; they feel as though they pay top dollar for top service and quality. This sense of prestige as well as resources and capabilities has given the Macquarie bank their high image and profile as well as success. Bargaining power of suppliers The main supplier of Macquarie bank would be their shareholders. By owning a share in Macquarie depicts that these people have invested money into this organisation and since there are various options to choose from, Macquarie must be unique in some sense to attract these people. It would become costly for Macquarie to lose these shareholders as with banks, money is the good which is being transferred and to lose shareholders would only lead to a deficit in funding for the bank. Therefore, the bargaining power of suppliers would be seen as high since there is no switching cost for them to move their money into another investment area. Macquarie must come to a compromise with supplier demands or face losing a stream of equity and funding. Threat of substitutes The main threat of substitute services for Macquarie Bank would be; credit unions and building societies. Credit unions, especially the larger ones offer most of the services that Macquarie offer, however, with fewer fees. Building societies although not as main stream and service diverse as credit unions have the potential to develop the competencies to deliver them, for example, Bendigo Bank; which was originally a building society. Although these two types of institutions do not offer the wide array of services that Macquarie does, it can steal away some of Macquarie’s customers, since they deliver a minimal version of the services that Macquarie provides. Additionally, with Macquarie’s reputation and diverse array of services, the threat of substitutes would be on a miniscule level. Bargaining power of buyers The banking industry in Australia can be seen as a saturated market. This saturation allows buyers (consumers) a level of bargaining power. This means that the consumer can negotiate interest rates and packages to their advantage against the provider. However, since there are only a few financial institutions in Australia, many of whom can charge higher prices for services and packages. Yet on the other hand, the domestic banking industry is considered to be competitive, which can offset the balance with only having fewer firms in the market. Therefore, the bargaining power of buyers can be considered as moderate. Competitive Advantages Macquarie bank provides investment banking, commercial banking, retail financial services in Australia and selected financial services offshore. It operates through the following business segments: Asset and Wealth Management; Financial Markets; Investment Banking; and Lending. Macquarie is a diversified international provider of financial and investment banking services. It has the following key resources and capabilities compared to Commonwealth and Bendigo Bank: Human Resource Macquarie bank’s hosts and presenters are industry experts who have the xperience and knowledge to achieve the maximum outcome in this complex and rapid changing economic environment. With a network of over 10,000 people in 24 countries, the staff can add the most value and advantages to clients. Annette Martins is currently employed as an associate economist in the economics team at Macquarie bank. Her past experience includes working for the NSW Treasury as an economist within the Economic and Fiscal directorate. Other staffs have worked for such as Reserve bank of Australia (Macquarie, 2007). At Macquarie, there are elites in different professions such as Economy matters, Marketing, Property and Vision. All the staff members are carefully drawn from a broad range of industries and market segments. It is also allowing them to apply their expertise to the customers. Customer Resource Macquarie bank is currently operating its services in more than 40 countries around the world as OzForex is serving around 30,000 transacting customer internationally. It provides a depth of service (accurate and insightful view) with specialist capabilities to wholesale and private customer in both the domestic (Australia) and international economies (Macquarie, 2007). Simultaneously all these customers may invest their money with other Macquarie’s business groups such as Funds management or financial service groups. They both run domestically and internationally. The Financial service group services more than 670,000 clients all together with other Macquarie Departments. Department Resource Macquarie is currently operating its service in seven major business groups which are Investment Banking Group, Equity Markets Group, Treasury and Commodities Group, Banking and Securitisation Group, Real Estate Group, Funds Management Group and Financial Services Group. With all these services, Macquarie owns huge customer resources within Australia and foreshore. Each department in Macquarie is serving specific groups which may overlap with other departments because Clients may be interested in more than one service which Macquarie provides (Macquarie, 2007). Subsidiary Companies Macquarie is providing its specialist banking and financial service in select markets around the world. It also has a lot of subsidiary companies around the world. OzForex is an online foreign exchange provider which Macquarie has purchased 51% of the shares. It will allow Macquarie to offer tailored foreign exchange services to its substantial retail financial services within financial service groups (Macquarie-OzForex, 2007). Comparison against rival Banks Commonwealth bank’s principal activity is providing integrated financial services which include business and institutional banking, superannuation, life insurance, funds management and broking services and finance company activities. It operates in Australia, NZ, UK, USA, and Japan†¦etc. It has a wide presence in Australia with the largest branch and ATM network. It also received the award for excellence – Best Bank in Australia but was not mentioned in relation to investment services (Commonwealth Bank, 2007). Bendigo bank’s main financial services include business banking and commercial finance, funds management, treasury and foreign exchange services, superannuation and trustee services. It operates mainly in all Australian estates and the Australian Capital Territory. Bendigo bank is responsible for a number of banking innovations in Australia such as visa credit and debit cards (Bendigo, 2007). With all the resources and capabilities when comparing Macquarie bank to Commonwealth bank and Bendigo bank, Macquarie is on a leading position for investment banking. Deregulation is expected to lead to an increase in competition in the banking industry, and could involve a decrease in profitability. There are four factors in a bank’s competitive advantage that needs to be considered: (Chen. T. , 1999) Manpower Financial management Asset base Intangible assets Achieving success in the industry will involve 3 key factors. These are the costs, product and financial strength of the corporate entity. To be successful in the banking industry, the bank needs an insight into the changes in banking methods, cost management and long-term financial solutions. Macquarie bank’s strategy is to expand selectively in practical areas. (Macquarie Annual Report, 2007) Macquarie has entered the market of infrastructure investing since 1996. It has become one of the largest private managers of infrastructure in the world, with rapidly increasing revenue and profit. Macquarie bank’s specialist funds are currently buying toll roads, airports and rail systems world-wide. It is also a key growth driver and has been exported to international markets; its assets under management in specialist funds increased 50 per cent from $A87. 6 billion to $A131. 3 billion. Macquarie’s long-term strategy has allowed them to enter new sectors and regions flexibly as opportunities arise. This strong risk management has become a key factor of Macquarie’s success. The overall result is driven by strong growth in every region where Macquarie operates. Macquarie has achieved No. ranking in Australia for mergers and acquisitions whilst maintaining its leading market position for equity rise. It has also been ranked No. 1 broker by the ASX (Australian Stock Exchange) in market share. Macquarie bank, Australia’s largest Cash Management Trust (CMT) provider also has an agreement with Australia’s largest retail equities network, GBST (Glob al Banking & Securities Transactions). These strategic alliances provide Macquarie with an enhanced reach to its customers as well as customers from other alliances, hence forming a broader network. Company Strategy Macquarie company strategy Macquarie states that â€Å"Our strategy is to expand selectively, seeking only to enter markets where our particular skills and expertise deliver real advantage to clients† (Macquarie Annual Report, 2006); â€Å"Macquarie aspires to be a pre-eminent provider of financial services over the long haul† (Macquarie, 2007). This statement also shows that their strategy is to be a leader in their sector. (For more information on the business level strategy, please refer to appendix 1). Competing with Macquarie. Macquarie Bank Group can be seen as the market leader in investment banking, inancial services and retail banking â€Å"Macquarie Bank has been consistently associated with a stream of major financial innovations, which have underpinned its reputation as a market leader† (Macquarie History, 2007). The way that they have focused on market segments has given Macquarie an edge over their competitors; since they service the market segments which they see profit and growth in for themselves as well as their customers. What this means is that they minimise their risk of entering â€Å"stagnant† areas and maximise growth and return by servicing their target groups. Macquarie Bank Financial Results Total income from ordinary activities for the year 2007 was up 49% to $A7,181m; International income was up 70% to $A3,457m; Net fee and commission income was up 25% to $A3,540m; Trading income was up 20% to $A1,047m; Net interest income was up 23% to $A728m. Asset and equity investment realizations and other income were up 257% to $A1, 866m (Macquarie Financial Report, 2007). The expense to income ratio was slightly down at 73. 2 % (Macquarie, 2007). Refer to appendix 2 for the pie chart. *EPS = Net Earning / Outstanding shares Macquarie banks financial possession as of May 2007 is Net profit of A$1. 46bn. There has been a 60% increase as compared to the later year and six times the level increase as compared to the last five years. Earnings per share increased 48% from $A4. 00 to $A5. 92. This is 4. 5 times the level of earnings per share of five years ago (Macquarie, 2007). Earnings per share are generally considered to be the single most  important variable in determining a share's price. It is also a major component of the price-to-earnings valuation ratio. The P/E looks at the relationship between the share price and the company’s earnings. A high P/E  suggests that investors are expecting  higher earnings  growth  in the future compared to companies with a  lower P/E. However, the P/E ratio doesn't tell us the whole story by itself. It's usually  more useful to compare the P/E ratios of one  company to other companies in the same industry, to the market in general or against the company's own historical P/E. P/E Ratio = Market price per Share / EPS P/E of Macquarie for 2007 = 82. 75/ 5. 916* = 13. 987 (Macquarie Financial Report, 2007) The Pay-out Ratio shows the amount of earnings paid out in dividends to shareholders. Investors can use the payout ratio to determine what companies are doing with their earnings. The payout ratio also indicates how well earnings support the dividend payments: the lower the ratio, the more secure the dividend because smaller dividends are easier to pay out than larger dividends. (Investopedia, 2007) Macquarie Bank (Payout Ratio) 2005 2006 2007 53. 20% 54. 40% 54. 30% As the ratios above show, there has been very slight fiction in the level of dividend payouts. There has been a 0. 0% decline in the ratio which could only mean, that investors are feeling secure with the payout of the company which in turn means the company has higher retained earnings in their balance sheet and are able to keep investor confidence. Other data from the financial report suggests a decline in the expense to income ratio, for every $A1 of income $A0. 732 goes into expense. This suggests that Macquarie is h andling its expense well and is confident enough to pay off their investors. Return on Equity is a ratio that captures profitability, efficiency and capital structure within an entity. Changes in the ratio will reflect the direction of an entity’s profitability, asset efficiency and capital structure. ROE for Macquarie Bank 2006 = Net profit/ Average equity x 100 ROE = 916 /5968 ROE =15. 34% ROE for Macquarie Bank 2007 = Net profit/ Average equity x 100 ROE = 1463 /7519 ROE = 19. 46% The ROE increased from 2006-2007. In 2006 an investment of one dollar of shareholders equity returned 15. 34 cents of earnings available for distribution to shareholders. In 2007 an equivalent dollar investment generated 19. 6 cents of earning available to distribute to the shareholders. A figure which depresses the return on equity is if the cost of debt exceeds the return on assets. The debt ratio indicates how many dollars of debt exists per dollar of assets. It shows the leverage between a company is debt financed or asset financed. Equity Ratio for Macquarie 2007 = total equity / total assets x 100 = 7519/ 136, 389 x 100 = 5. 56% est. 6% This shows that 6% of Macquarie†™s debt finances their assets. They are relatively debt financed. Another way to measure the company’s financial leverage is the debt to equity ratio. It is calculated by dividing  its total liabilities  by  stockholders' equity. It indicates what proportion of equity and debt the company is using to finance its assets. = 128,870 / 7519 = 17. 14 A high debt/equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense. If a lot of  debt is  used to finance increased  operations (high debt to equity), then Macquarie could potentially generate more earnings  than it would have without this  outside financing. If this were to increase earnings by a greater amount than the debt cost (interest), then the shareholders benefit as  more  earnings are being spread among the same amount of shareholders. However, the cost of this debt financing may  outweigh the return that  the company  generates on the debt through investment and business activities and become too much for the company to handle. This can lead to bankruptcy, which would leave shareholders with nothing. (Investopedia, 2007) Issue 1 Macquarie Bank users a decentralised management structure. This decentralisation refers to when decisions are made at different levels within an organisation (Hill et al, 2004, p273). Decentralisation Overview: Macquarie’s management and organisation structure is considered to be non-hierarchical. This means that the chain of command within the organisation is designed to be decentralised. This management approach allows the lower and mid-level managers within the seven divisions of Macquarie to make decisions on their own. Macquarie encourages their employees to gain a sense of ownership and to develop entrepreneurial skills in order to make strategic decisions (Macquarie Management, 2007). By giving the lower and mid-level managers the power to make decisions, it will reduce the bureaucratic cost to the company. In other words, delegating lower and mid-level managers’ decision-making responsibility, will lead to a reduction in upper level managers within the organisation. Furthermore, having a decentralised management structure will reduce information overload to the central management team, which will enable them to spend more time focussing on market and industry forces (Macquarie Management, 2007). A decentralised management structure may be good in order to keep costs down and provide central managers more time to make effective decisions; it may however cause further problems within the organisation. Problem 1: Communication & Coordination issues involving the Decentralisation Approach: The decentralised management theory states that lower bureaucratic costs will avoid communication and coordination problems within an organisation. This may be true in theory, however in reality it is not always the case. For example, the seven divisions of Macquarie are run and operated independently. All of the lower and mid-level managers of the organisation make their own decisions within each division. Since every division in Macquarie are related, it is surprising to see that they do not effectively communicate with each other because there is no level manager do so. In other words, there is no managerial network that integrates with each of the divisions. This could mean that information and other resources are not equally shared, which can lead to difficulties in creating value for the ompany. Problem 2: Leadership Issues using the Decentralised Management Approach: Another decentralised issue that could affect Macquarie is for when the organisation is facing periods of uncertainty. For instance, when the Macro-environment is volatile or unpredictable it is important for an organisation to show strong leadership. In these uncertain times it is important that leadership decisions are best given from higher-level managers. One of the issues concerned with Macquarie’s management structure is that leadership decisions do not come from lower or mid-level managers. In fact, decision-making made by an organisation’s division can be made to benefit them rather than to benefit an organisation as a whole. Therefore, this decentralised management approach may not be effective to face periods of uncertain times. Recommendations Macquarie decentralised management system is working well despite some of the issues facing the company. However, Macquarie Bank can benefit from using both a centralised and a decentralised management structure. A centralised management system is the complete opposite of decentralised management structure, where decisions are made by upper-level managers of the organisation (Hill et al, 2004, p273). The approach that Macquarie should take is to find a balance between a centralised and decentralised management regime. For instance, issues such as investing money into infrastructure should be done using a centralised approach and consequently issues dealing with recruitment and training should be done through decentralisation. Archiving the balance between the two management structures will determine the success of Macquarie Bank. Additionally, Macquarie should add a managerial network that integrates with all of the divisions in order to improve communication and resource sharing to create value for the organisation. However, it is important to note that as the company expands the decentralised approach may become less effective due to rising bureaucratic costs. Justifying the Recommendations: The real question that must be put forward to Macquarie is that can they continue to grow under a decentralised management regime? This is a key issue regarding the organisation structure for Macquarie Bank. As the Macquarie organisation expands, many critics argue that sustaining a decentralised management system in the long-term will fail. This is due to the fact that expanded business growth will not be able to maintain current hierarchical levels because it is too difficult, but more importantly it will lead to inefficiencies in managing the companies’ resources (Hill et al, 2004, p274). However to solve these issues, Macquarie can choose to divide the functional responsibilities up within the company across the same level, best known as ‘Horizontal Division of Work. ’ Using a functional structure in a horizontal framework will enable people with similar tasks be grouped together in order to increase productivity. This will reduce bureaucratic costs for an expanding business and increase operational flexibility. Therefore, Macquarie should consider a decentralized managerial approach in the short-run but in the long-run they may opted for a functional structure in order to reduce costs. Issue 2 Macquarie’s focus strategy to expand selectively, seeking only to enter markets where their particular skills and expertise, deliver real advantages to clients has served them well to this day, with expediential growth, it can have some implications. The main implications that can arise from this course of action and strategy are the limitations of the potentially profitable and growing markets that Macquarie could miss out on. This can lead to limited growth and a loss of market share if Macquarie continues this course of action to a stringent degree. It is near impossible to predict the trends to such an exact degree as too when to enter a market to obtain maximum growth, however, if there is the potential for that growth to occur, then the advantage can be taken by entering that market before this growth eventuates. However, by doing so creates risk. This risk is the gamble on predicting the success of the potential growth in the area. Although Macquarie does have a whole department dedicated to risk management, it still does not account for the ability of the environment to make unforeseeable changes. These environmental factors are out of the companies control, however, the company can anticipate an environmental change and implement a course of action to take in order to counter or profit from it. Therefore, Macquarie’s strategy of focusing on a select market to enter, although has helped them grow into a gigantic organisation, it could also be their downfall due to the potential growth they could miss out on by trying to minimise their risk. Problem 1: Market selection and alienation The way that Macquarie’s strategy focuses on expanding selectively to only enter markets where their particular skill are suited will cause these limitations in their possible future growth. This strategy can be seen as a focus strategy since Macquarie looks at targeting a particular market or customer segment; as stated in their original strategy, to expand selectively†¦where their skills and expertise deliver real advantages (Hill et al, 2004, p317). What a focus strategy entails is the focus on a niche market, which can be defined by, in Macquarie’s case, the type of customer and geographical region (Hill et al, 2004, p317). Although this strategy entails cost – control due to lower output levels to reach a scale of economy, Macquarie bank has grown so much that it does not have to take this part of the theory into too much account. Additionally, since Macquarie has created some unique attributes and competencies to its products and services accompanied by their high level of service quality it has given them a competitive edge by using this focus strategy. This has allowed Macquarie to charge higher rates which has aided them in reaching the scales of economy. However, the issue of a focus strategy, in Macquarie’s case, is that by minimising their risk by entering possibly slow growing economies can minimise their growth rate. This is due to the environmental and operational environment which they have no control over which can eventuate in that market to grow exponentially. Although this can be predicted, it cannot always be acted upon with enough haste to reap the maximum benefits. This leaves room for other competitors to move in and take advantage of this risk. Thus this strategy implemented by Macquarie can hold potential growth defects for them if they hold to this strategy too closely. Recommendation: To combat this market selectivity, Macquarie needs to manage change throughout the organization. The changes which it will introduce will establish a sense of urgency. Strategic leadership can assist in making that change happen within Macquarie Bank. Strategic leadership is the process of providing the direction and inspiration necessary to create, provide direction to, or sustain an organization or an organizational unit Dubrin et al, 2003, p400). An Innovative way to expand within the same banking industry and yet keeping the same image of Macquarie’s high scale markets is driving convergence which also helps redraw industry boundaries. Instead of competing with competitors, it can compete with its own financial advisory services. Another way to compete is imitation. Macquarie can benchmark their performance to other high scale ba nks globally and use two key components; strategic follower ship and learning by watching (Dubrin et al, 2003, p410). Justification for Recommendation Offering a higher quality than its competitors, can help combat markets selectively. Customer’s service, for banks is one of the ways total quality management, can be used. The variable which makes TQM possible is extensive employee involvement. Other hot topics are corporate social responsibility, it is a well-researched field of management and it provides guidelines for leaders about how to be more accountable to a new global economy. After the advents of Enron, topics of CSR and Corporate governance have emerged as ways to prevent people working in highly funded projects to have some form of transparency within the system. Macquarie which is Australia top investment bank should undertake such a role as they are leaders in the industry. Conclusion to Macquarie Banks strategic approach In summary, we have gone through a historical overview of Macquarie Bank and have come up with the expected result from this power house institution. Macquarie bank is an institution known for its complex ways of handling its organization, critics say it is like ‘wrestling in the dark with a ghost’ (Schwab, A; 2007). After evaluation of strategies we realize that Macquarie is a bank which provides prestige for Australia and has a high reputation in the minds of many. References Australian Bankers Association, (2007), ‘The Australian Bankers’ Association’s role,’ (online) http://www. bankers. asn. au/default. aspx? FolderID=2 (Accessed 13th September 2007) Australia Competition and Consumer Commission, (2007), ‘Role and Activities,’ (online) http://www. accc. gov. au/content/index. phtml/itemId/54137/fromItemId/3744 (Accessed 13th September 2007) Australia’s Free Trade Agreement, (2007), ‘Benefits of Free Trade Agreements for Australia,’ (online) http://www. fta. gov. au/default. aspx? FolderID=239=187 (Accessed 13th September 2007) Australia Prudential Regulation Authority, (2007), ‘Streamlined data collection for life companies and friendly societies,’ (online) http://www. apra. gov. au/media-releases/07_15. cfm (Accessed 13th September 2007) Australian Securities and Investment Commission, (2007), ‘ASIC at a Glance,’ (online) http://www. asic. gov. au/asic/ASIC. NSF/byHeadline/ASIC%20at%20a%20glance (Accessed 13th September 2007) Bendigo Bank, (2007), ‘Corporate Governance,’ (online) http://www. bendigobank. com. au/public/about_us/corporate_governance/corporate_governance. asp (Accessed 13th September 2007) Chen, T, (1999), Critical Success Factors for Various Strategies in the Banking Industry, vol 17 issue 2/3. Commonwealth Bank, (2007), ‘Company Profile,’ (online) http://about. commbank. com. au/group_display/0,1922,CH2047,00. html (Accessed 13th September 2007) Dubrin, Dalglish Miller, (2003), Leadership, 2nd edition, John Wiley and Sons, Australia Hill, Jones, Galvin, Haidar, (2004), Strategic Management: An Integrated Approach 2nd edition, John Wiley and Sons, Australia Investopedia, (2007), ‘Debt-Equity Ratio,’ (online) http://www. investopedia. com/terms/d/debtequityratio. asp (Accessed 17th September 2007) Macquarie Bank, (2007), ‘About Macquarie Bank,’ (online) http://www. macquarie. com. au/au/about_macquarie/index. html (Accessed 10th September 2007) Macquarie Bank, (2007), ‘Corporate Governance,’ (online) http://www. macquarie. com. au/au/about_macquarie/corporate_governance. htm (Accessed 8th September 2007) Macquarie Bank, (2007), ‘Financial Report 2007,’ (online) http://www. macquarie. com. au/au/about_macquarie/acrobat/financialreport2007. pdf (Accessed 11th September 2007) Macquarie Bank, (2007), ‘History of Macquarie Bank,’ (online) http://www. macquarie. com. au/au/about_macquarie/company_profile/history. tm (Accessed 10th September 2007) Macquarie Bank, (2007), ‘Macquarie Bank 2007 Annual review,’ (online) http://www. macquarie. com. au/au/about_macquarie/acrobat/annualreview2007. pdf (Accessed 11th September 2007) Macquarie Bank, (2007), ‘Macquarie Bank announces 60% increase in profit and 47% increase in dividends per share,’ (online) http://www. macquarie. com. au/au/about_macquarie/media_centre/200705015a. htm (Accessed 17th September 2007) Macquarie Bank, (2007), ‘Major Seven Major Business Groups,’ (online) http://www. macquarie. com. au/au/about_macquarie/company_profile/mgmt_organisation/six_groups. tm (Accessed 11th September 2007) Macquarie Bank, (2007), ‘Management and Organisation Structure,’ (online) http://www. macquarie. com. au/au/about_macquarie/company_profile/mgmt_organisation. htm (Accessed 16th September 2007) Reserve Bank of Australia, (2007), ‘Structure and Functions of the RBA,’ (online) http://www. rba. gov. au/ActionPlan/index. html (Accessed 13th September 2007) Appendices Appendix 1 Focussed product differentiation A key element that has helped Macquarie differentiate its services from their competitors is how they have selected their market segments; however, this will be discussed in the next section. The reason they have a distinctive service differentiation from their competitors can be based on their values that they hold within the company. These values are; high ethical and professional standards, commitment to clients and growth, motivating and retaining quality staff, creating aligned staff and shareholder rewards and stringent reporting to create a high level of accountability (Macquarie, 2007) Focussed market segmentation Macquarie’s focussed market segmentation plan is to target a preferred demographical segment. They target the areas where they can best maximize their business as well as service their customers to the expectations that customers would hold from this prestigious company. They have a large commitment to the people they service as well as constant improvement to deliver higher standards of services and products to those people. As mentioned earlier, they expand selectively, seeking only to enter markets where Macquarie’s particular skills and expertise deliver real advantage to clients Focussed distinctive competency Another factor that has given Macquarie its strategic advantage would be