Corporation Act Fame Decorators Agencies

Question: Describe about the Corporation Act for Fame Decorators Agencies. Answer: Issue The Fame Decorators Agencies Pty Ltd. v Jeffries Industries Limited and others, is the case of 1998 which was brought before the Court by the Fame Decorators Agencies Pty Limited. This case is all about the contravention of the section 955 and 998 of the Corporation Act 2001. Jeffries being a public company is listed on the stock exchange. Mr. J F O'Halloran was the Chairman of the directors of the Jeffries who now controls the business affairs of the Fame. Fame always has held shares in Jeffries. Fame wanted to convert the preference shares of the shares they hold in Jeffries. The date of conversion of such shares was February 4th 1999. The shares can be converted in certain circumstances which have been provided in the Association of Articles of Jeffries. The shareholders holding converting preference shares have the right to move the date of conversion in respect to some preference shareholders if the Jeffries failed to repay the specific dividend on a certain date. The number of ordinary shares to be allotted after the conversion of a preference shares to be determined by the way of a certain formula. The one of the ingredient of that particular formula was the average price of sale of fully paid shares, i.e., ordinary shares in Jeffries which was to be sold on the stock exchange in between the twenty days before the date of conversion. If the selling price of the ordinary shares is lower than the average selling price, more numbers of ordinary shares would be allotted to an individual preference shareholder after conversion. Mr. OHalloran came to know on 27th April that the directors of Jeffries have announced that no dividend would be paid for the conversion of the preference shares for the time which ends on the 30 April 1995 which was a Sunday. This would lead to setting of the motion for accelerating the provisions for the conversion. There were frequent sales of shares in Jeffries. Mr. OHalloran has contacted his stockbroker to discuss about the sale of shares in Jeffries by Fame. They both came to the conclusion that the conversion of shares will give advantage to fame. Mr. Powell, the stock broker of Mr. OHalloran has informed him about the details of the different offers to buy shares. The lowest price bid of the shares was on 9th March 1995 in the system, where there were 250,000 shares at the rate of 13c per share. Fame has to accept those bids according to the sequence if it wants to sell Jeffries shares. Further, Mr. OHalloran and his stock broker Mr. Powell had a discussion about conversion where it was agreed by both of them that if there will be no change in the market, instruction will be given to Mr. Powell to sell 170,000 shares in Jeffries at the price of 13c per share before the market gets close. Thereafter Mr. OHalloran gave a telephonic instruction to sell the same. Fame had accepted the outstanding offers of buying share in Jeffries and also agreed to buy 74,000 shares in Jeffries at the rate of 13c. The Cameron Securities had provided an offer of buying 20,000 shares at the rate of 14c per share. The evidence which has been given Mr. Cameron is that the market price of the shares when the bid has been placed by him was at the rate of 35c per share. James Capel had given an offer for buying 250,000 shares of Jeffries at the rate of 13c per share, but there was no evidence given by any member of that particular organization. Rule In this case Cohen J found that the two share transactions, which was the sales of shares in Jeffries Industries Limited, is contravening sec 995 and sec.998 of the Corporation Act 2001. In the appeal before the Court, Fame being the appellant challenge the findings of the lower court and ask the court to set aside the declarations. But the respondent, ASC by way of cross-appeal said that the lower court has not gone further with the findings. Fame has also made sales of other shares on the same day as of Jeffries which is also contravening the Sec. 995 and 998 of the Corporation Act. Still ASC supports the findings of the lower court and asks this court to maintain and consider the declaration made by the lower court (austlii.edu, 2001). The cross-appeal has not been taken into considerations as the legal issues concerning to the appeal made by Fame is sufficient enough to consider the declaration of the lower court and dismiss the appeal (legislation gov, 2013). Application This case is all about the contravention of the sec. 995 and 998 of the Corporation Act. Sec.995 of the said Act states that a person should not get into any kind of dealings in securities and not limiting the general statement of not entering in dealing of any kind of securities, should not issue any shares or securities. He is expected not to publish any notice related to any securities or any appraisal of the securities or should not recommend any offer to bid which has been already taken over. The person is also bound not to make any negotiation in respect of the trading of the shares or make any arrangement of issuing or allotting of shares or any other securities to the general public or publish any report or notice in recommendation of any security. Because any such act will be considered as a conduct done in order to mislead. The person contravening this section is not guilty of any offence. In the case mentioned above, Mr. OHalloran has been engaged in all the acts which are contravening this section (jade io, 2016). Section 998 of the Corporation Act states that any person should not get into any kind of action that creates a false presentation in a trading of any securities or shares in a stock market or any presentation that misleads the factors like actual market price of any securities. He should not involve in any kind of change in the ownership of the securities or any transactions which is not genuine by means of purchase or sales of those securities. He should not be responsible for any fluctuations in the market price of the securities or any kind of shares by way of increasing or reducing the price of the shares in the market. a person who enters into any transaction of sale or purchase of any shares or securities which do not prove to be beneficiary for the owner of the said shares or securities, is said to have created a false representation of the price of the shares or any kind of securities in the market during the active trading of the said securities in a stock market. There is a provision in sub section 6 of the section 998 which acts as a defence for the person who is found guilty of contravening section 998 of the act (legislationgov, 2001). The defence is mentioned in sub section (5) where it has been mentioned that if the person can prove that the purpose for which he did the same was not for the purpose of creating a false representation or misleading the market or the buyers or sellers during the ongoing trading in the shares or securities (legislationgov, 2016). In the case herein mentioned above, Mr. OHalloran has falsely represented the market and is involved in the act misleading the ongoing trading of the securities and shares on 28 April 1995 (legislation gov, 2016). He falsely presented the shares of Jeffries in the market at a much lower price, i.e., at the rate of 13c per share and sold 94,000 of the shares @ 13c. He has done this activity for his own benefit of acquiring more numbers of the ordinary shares after the conversion of the prefe rence shares. Therefore, Mr. OHalloran is guilty of contravening Sec.998 of the Corporation Act 2001 (Mkysugar, 2016). Conclusion This case contains evidence by the system of working of the Stock Exchange Automated Trading Systems (SEATS). In this system the offers to sell and offers to buy is placed by the brokers and is kept in record. All the trades and information of the trades which are kept in records are accessed by the brokers with the help of the computers. A trade takes place when there is an offer to buy matches with the offer to sell. According to the case mentioned here, the broker may make an offer to sell or an offer to buy at a price which is totally different from the market value of the shares with an expectation that it will be accepted in the future changes in market. if a company make an offer to buy shares at different price level, then the seller willing to trade will accept to sell the shares according to the descending order of the price level until there is no more willingness left to sell at the price offered to him or the available shares for sell have been used up (wipo int, 2013). In the above mentioned no evidence or any conspiracy was found between Fame and the other two organisations, Cameron Securities or James Capel. An investigation was made on the transactions which took place on the 28 April. The transactions made which was related to the conversion of preference shares raised a question of validity of those shares between Jeffries and many other persons. This is not a important matter to discuss in the appeal. It is to be found that whether Fame has contravened Sec995 and 998 of the Corporation Act 2001 (asic gov, ND). Mr. OHalloran in his evidence in the lower court stated that he was under pressure in order to get cash to meet up some financial commitments on behalf of the company, which was neither believed nor challenged. It has been found that there was enough cash left with Mr. OHalloran to make the financial commitments and there was no need to sell huge numbers of shares at a lower price for a simple reason of getting cash in hand. He sold 94,000 shares at a price lower than the market price just to create a lower price which will serve for the purpose of the calculation for conversion of the preference shares. The transactions were done by Mr. OHalloran on 28 April 1995, in the last three minutes before the closure of the market. This was just according to the conversation made between Mr. OHalloran and his broker Mr. Powell. This was made just to change the market for the buyers who will accept the offer to buy the shares of Jeffries at the price of 14c or above and the same happened in t he very next trading day of the next week, which would create an advantage for Fame in terms of finance. This is because the lower share market price of Jeffries will lead to acquiring of more numbers of ordinary shares after conversion of the preference shares (legislation gov, 2016). The appellants senior counsel submitted in the Court where the appeal is being heard that there was no manipulation of the market is involved and no misleading of the happening has taken place. It has been further stated that the appellant has used the opportunity of the market situation that existed on 28 April and is not been made by the said person. The appellant accepted the different offers made to buy shares in Jeffries just before the closing of the market, as there was own financial interest present. The judgment made by the court is that there is a contravention of the sec 995 and 998 of the Corporation Act. This is because the vendor in order to get his own financial benefit in respect of some financial contractual agreement, has been involved in creating a lowest market price of numerous shares and selling of the shares at a lower price which could have an increased bidding in the near future. The appeal in this case has been dismissed with costs (Pearson, ND). References: asic gov (ND) Laws we administer, [Online], Available: https://asic.gov.au/about-asic/what-we-do/laws-we-administer/. austlii.edu (2001) austlii.edu, [Online]. jade io (2016) jade.io, july, [Online], Available: https://jade.io/j/?a=outlineid=218602. legislation gov (2013) Corporations Act 2001, [Online], Available: https://www.legislation.gov.au/Details/C2013C00003. legislation gov (2016) legislation.gov, [Online], Available: https://www.legislation.gov.au/Details/C2016C00725. legislationgov (2001) Corporations Act 2001, [Online], Available: https://www.legislation.gov.au/Series/C2004A00818. legislationgov (2016) Corporations Act 2001, [Online], Available: https://www.legislation.gov.au/Details/C2013C00003. Mkysugar (2016) Corporation Act 2001, [Online], Available: https://mkysugar.com.au/. Pearson, G. (ND), in Pearson, G. Financial Services Law and Compliance in Australia, Cambridge University Press. wipo int (2013) 'Corporations Act 2001 ', Corporations Act 2001 No. 50, 2001 as amended , vol. Volume 1: sections 1260E , april.

Swot Aol Time Warner Essays - SWOT, Strategic Management, AOL

Swot Aol Time Warner Advanced Search Preferences Language Tools Search Tips Web Images Groups Directory Searched the web for SWOT aol . Results 41 - 50 of about 1,200. Search took 0.20 seconds. AOL - Try AOL 7.0 FREE! 1000 Hours for 45 days! free.aol.com 7 E-mail Addresses, Instant Messaging and more! Try it today Sponsored Link The Guide2GiftBiz Homepage ... Well the same thing goes for your email. Lets face it - [emailprotected] or [emailprotected] just doesn't give that warm fuzzy feeling of confidence to ... www.guide2giftbiz.com/ - 24k - Cached - Similar pages [PDF] Quality News File Format: PDF/Adobe Acrobat - View as HTML ... and 3 what is called a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis ... 522-2803 or e-mail [emailprotected] . Montana Area Members Our Montana ... eastidahoasq.hypermart.net/feb_2001_newsletter.pdf - Similar pages [PDF] 9 ? ? ? ? ? ? ? ? File Format: PDF/Adobe Acrobat - View as HTML The summary for this Japanese page contains characters that cannot be correctly displayed in this language/character set. www.net.intap.or.jp/INTAP/cdn/cdn_2-9.pdf - Similar pages BA 8993/Strategic and International Management ... technical problems you are having with AOL. Please expect to give full attention ... the course. Two required tools are SWOT and Five-Force analysis. You ... www.gsu.edu/~mgtrhh/8993f01i.htm - 68k - Cached - Similar pages Read News ... Ever Onward''. E-mail Address: [emailprotected] (PUC/AUP CYBER-LINK ... School discussion, revolving around the ''SWOT'' (strengths, weaknesses, opportunities and ... www.filipinoadventist.org/community/bulletin/news.asp?SectionID=1&ArticleID=626 - 26k - Cached - Similar pages Read News ... HOLDS RETREAT by CJR Miranda IV, MD [emailprotected] ... discussion, revolving around the ''SWOT'' (strengths, weaknesses,. opportunities and threats) analysis of the ... www.filipinoadventist.org/community/bulletin/news.asp?SectionID=1&ArticleID=619 - 46k - Cached - Similar pages [ More results from www.filipinoadventist.org ] Euroseek - Roller Coasters ... first drop. http://www.coasterphotos.com/SWOT/steeleel.htm 5. Kennywood Park Roller ... its demolished predecessor. http://members.aol.com/RobbRipken/knoebel.html 7 ... webdir.euroseek.net/page.php/United+States/Lifestyle/Hobbies/ Hobbies&Interests+A-Z/Interests+Q-R/Roller+Coaster+Fans/Roller+Coasters?ct=world - 28k - Cached - Similar pages Google Directory - Business * Management * Strategy and ... Business

Free Essays on Delegation Paper

Delegation Paper The managers in my organization delegate responsibilities as part of their job requirements to ensure that orders are being met and that the quality in those products continues to be within standards for the customer. My operations manager sends vital information on to shift supervisors about our customer order situation so they can plan ahead of time when and what action to take on the manufacturing floor. All of this leads to delegation of orders down the chain of command, for example if we have a short lead-time for a product for a more important customer or higher profiting product, they then relay to their shift leaders what to look ahead for in production. The shift supervisors make sure that we have the correct amount of personnel to cover the orders and that there is adequate tools to perform the task at hand. The shift leads then performs the wishes of the supervisors by relaying pertinent information to those employee who have the specific tasks to make the adjustments in their area, the leads also fill in at weak points in production to maintain a continuous flow in the production lines. Delegation is a skill of which we have to use at one point or another, but which few understand. It can be used either as an excuse for dumping failure onto the shoulders of subordinates, or as a dynamic tool for motivating and training our team to realize their full potential. One important step in becoming more productive is to not have everything done by one person. The shift supervisors cant be everywhere at once so he has the shift leads help in the delegation of work to be performed. Delegation allows them to achieve more through the proper selection, assignment, and coordination of tasks and resources. Delegation gives the supervisors and leads an opportunity to handle aspects of the job that no one else can do. These activities might include project planning and project team involvement, coaching and monitori... Free Essays on Delegation Paper Free Essays on Delegation Paper Delegation Paper The managers in my organization delegate responsibilities as part of their job requirements to ensure that orders are being met and that the quality in those products continues to be within standards for the customer. My operations manager sends vital information on to shift supervisors about our customer order situation so they can plan ahead of time when and what action to take on the manufacturing floor. All of this leads to delegation of orders down the chain of command, for example if we have a short lead-time for a product for a more important customer or higher profiting product, they then relay to their shift leaders what to look ahead for in production. The shift supervisors make sure that we have the correct amount of personnel to cover the orders and that there is adequate tools to perform the task at hand. The shift leads then performs the wishes of the supervisors by relaying pertinent information to those employee who have the specific tasks to make the adjustments in their area, the leads also fill in at weak points in production to maintain a continuous flow in the production lines. Delegation is a skill of which we have to use at one point or another, but which few understand. It can be used either as an excuse for dumping failure onto the shoulders of subordinates, or as a dynamic tool for motivating and training our team to realize their full potential. One important step in becoming more productive is to not have everything done by one person. The shift supervisors cant be everywhere at once so he has the shift leads help in the delegation of work to be performed. Delegation allows them to achieve more through the proper selection, assignment, and coordination of tasks and resources. Delegation gives the supervisors and leads an opportunity to handle aspects of the job that no one else can do. These activities might include project planning and project team involvement, coaching and monitori...

John Stuart Mill's principle of liberty Essay Example | Topics and Well Written Essays - 1750 words

John Stuart Mill's principle of liberty - Essay Example I prefer this definition of public policy because it establishes a direct connection between expectations of a society and the effectiveness of their embodiment by governments. With such observations in mind, let us try to find out to what extent, if at all, John Stuart Mill's principle of liberty is a workable and attractive basis for public policy in light of real-life challenges. ... ills principle to public policy, because in the latter case we may fail to exactly identify aspects of the principle that cause difficulties in its practical implementation as a basis for public policy. Besides, the fact Mill himself differentiated between the spheres of application of the principle of liberty in positive (freedom for personal development) and negative (knowledge that our freedom from harmful interference of others is protected) ways suggests that for him, as a utilitarian, this differentiation was needed in order to provide a practically applicable frame for his moral philosophy. Indeed, while for Mill the maximisation of happiness serves as the moral end, he realises that the task of distribution of limited amount of goods that can promote happiness requires the establishment of strict social norms violation of which should be punished for the common benefit. The first part of the Millian principle of liberty, which declares that a person has the right to do whatever he or she wants and be free from the interference from other people, stems from Mills principle of utility "grounded on the permanent interest of man as a progressive being".1 By this Mill implies that the choice of forms of governance should be based on their capacity to promote development of faculties of each individual, which would generally increase moral freedom, responsibility, and rationality among people, thus leading to more happiness. This aim is justified by the fact that free personal development is an end for each individual, and at the same time is a proper way for the whole society to thrive.1 So, it is after all the utility that dictates the best forms of social life.2 Therefore, with the personal development being the basic value, Mill states that liberty, insofar as it

Motivation of firms for foreign direct investments - a critical review Dissertation

Motivation of firms for foreign direct investments - a critical review - Dissertation Example The 1990s had witnessed a dramatic growth in the foreign direct investments to the developing countries. In the late 1980s, the net direct investment flows to the countries amounted from the 0.5 percent of their overall GDP to more than 2.5 percent in the year 2000-2001. The dramatic growth in FDI was particularly experienced in Latin America (Calderon, Loayza & Serven, â€Å"Introduction†). After 1994, with the steep decline in other private external flows, the significance of foreign direct investment has increased as the significant source of external financing to the developing world. Over the last few decades, the outsourcing from the foreign countries has become a significant strategic issue. This has been in the wake of increasing recognition of the benefits, provided by the effective outsourcing and international product strategies. In the quest for greater efficiency and cost savings, a number of companies have decided to source parts and components at a reduced cost from the suppliers across the globe. Hence, the importance of FDI has increased with the passing days. This report is an effort to look into the foreign direct investment from both the perspectives of domestic and foreign countries. There can be several benefits which can lead a host country to welcome the foreign direct investments while there are number motivations behind such decisions of the investing firms. All these have been discussed to have a more detailed look at the foreign direct investments taking reference from several articles and books, as well as the online resources. At the end, a conclusion has been inferred from the discussion carried out in different segments. Foreign Direct Investment Foreign Direct Investment is a form of investment which earns interest in the enterprises, functioning outside of the domestic territory of the investors. The foreign direct investment requires a business relationship between the parent company and its subsidiaries (EconomyWatch, â€Å"Types of Foreign Direct Investment: An Overview†). The term ‘Foreign Direct Investment’ can be defined in several ways. â€Å"Foreign Direct Investment (FDI) is the process whereby residents of one country (the source country) acquire ownership of assets for the purpose of controlling the production, distribution and other activities of a firm in another country (the host country)† (Moosa, p.1). According to International Monetary Fund’s Balance of Payments Manual, foreign direct investment is made to acquire an interest in any organisation, operating in a foreign economy; in this case, the investor aims to have to an effective voice in the organisation management. Back in the year 1999, the United Nations World Investment Report has defined FDI as an investment which involves a long term relationship and reflects a long-term interest and control of an entity in an organisation, in any foreign country. While compared to various forms of intern ational investment, the distinctive feature of FDI is that it enables the investor to have control over management policy and decisions of the organisation in the foreign country. A number of researchers have argued that the element of control has provided

Majestic Wine Plc Uk Marketing Essay

Majestic Wine Plc Uk Marketing Essay Majestic Wine Plc. opened its original wine warehouse in 1980. This Wood Green, North London warehouse merged in 1991 with Wizard Wine, which, at that time belonged to Iceland, the frozen food group, (Sunday Times, 2010, p1). Majestic Wine was listed on the Alternative Investment Market in 1996. In 2009, it acquired Lay Wheeler, a Burgundy and Bordeaux wine specialist (Sunday Times, 2010, p1). The retailing of wines, beers and spirits is its principal business activity (Majestic Group, 2009, p1). This business report analyses the group performance for two financial years, to 29th. March, 2010. It recommend, on basis of appropriate performance ratios, (detailed in Appendices 1 4), that shareholders should buy more shares and augment their investment significantly if the group management shows a more aggressive and focused plan of expansion, accompanied by expansion of stores, the deployment of a more aggressive capital gearing ratio, and sharper operations management. Majestic has grown more than 12 fold from 1985, when it had only 12 shops, to 152 shops n 2010. It aims to expand its shop strength to 250 during the coming decade (Sunday Times, 2010, p1). Its sales are at a 10 year high, post the discarding of its policy of retailing only 12-bottle cases. Off-licences, (establishments selling alcohol for consumption off the premises), could in the 1980s operate only for a few hours every day, and even fewer over weekends. Warehouses circumvented this rule by posturing as wholesalers, thus compelling their customers to buy bulk 12-bottle cases (Goodway, 2010, p1). Steven Lewis, the feisty CEO of the company, tested and subsequently rolled out, from November 2009, a model allowing customers to buy a minimum of six bottles at a time (Goodway, 2010, p1). The policy was instrumental in increasing the number of customers by 54000 to 472000 in the course of a year (LSE, 2010, p1). The objective of this Business Report is to recommend to the shareholders of Majestic Wine PLC on augmentation or reduction of their investment in the company. The profitability ratios of the company reflect a marked improvement in terms of revenues, cost of sales and ROI. Most organisations opt to keep their debt low and cut their debt at the earliest (Jablonsky Barsky, 2001). Whilst such inclinations arise from the need to be conventional and secure in business, excessive eagerness to diminish debt frequently leads to poor utilisation of obtainable debt, higher costs and uneconomical capital gearing (Jablonsky Barsky, 2001, p 7-15). The practically unchanged working capital ratios reflect the maintenance of sub-optimal liquidity levels. The weak acid-test ratio can lead to a difficult situation if the need for liquidity arises on account of contingencies that need to be swiftly addressed. The long-term debts ratios reflect under capitalisation. The low gearing ratio reflects risk adverse tendencies, which can lead to slow growth in future. 2.2. Group Performance The group turnover for the 52 week period ending 29th March, 2010 at  £33.2m was up 15.6 percent, with the profit before tax at  £16.0m rocketing by an incredible 117 percent (LSE, 2010, p1). Appendix 4 summarises the group performance, as reported in the Preliminary Results for 2010. The Group has experienced strong cash generation during 2010, with operational cash-flows of  £21.2m during the year.  This figure is  £5.7m more than the  £15.5m generated during the previous year, and has essentially come about from the improvement in the underlying profit before tax during 2010. The Distribution and Administrative Costs have increased by 15.6 percent during 2009-10 as compared to the previous year. The EBIT (Earnings before finance costs and taxation) rose by 118.3 percent during the same period. The Profit before Taxation (PBT) grew sharply from  £7.4m to  £16.0m during 2009-10 year, registering an increase of 117 percent. The sales to private customers, which make up the mainstay of the business, have shored up well, even though sales to corporate customers has been unsatisfactory. The companys French operations have been hurt by a stronger Euro (Majestic Group, 2009, p1). This contributed to an exceptional non-cash charge of  £5.33m in 2009, which arose from the writing-down of the carrying value of the companys French retailing operations, Wine and Beer World (Majestic Group, 2009, p1). The companys purchase policy of reducing the minimum purchase of 12 bottles to 6 has led to excellent results, even as it needs to be recognised that it may be difficult to replicate this years soaring profits next year, because of challenges in manoeuvring even more supermarket customers through its shop entrances (ODoherty Kuchler, 2010, p1). Majestic is nevertheless working towards seizing mid-market space with a number of value-adding schemes like developing sales to gastropubs, increasing its wine-tasting programmes, and growing its fine wines business (ODoherty Kuchler, 2010, p1). Majestics market share at 3.4% leaves abundant room for growth (ODoherty Kuchler, 2010, p1). With its share trading at 20.3p per share at approximately 14 times its forecast earnings for 2011, higher than the average trading of its peer retailers at an average of 12 to 13p, Majestic, ODoherty Kuchler, (2010, p1) feel merits the premium and some more. The companys results are remarkable, considering that the underlying profit growth of 26 percent in 2010 has been achieved after accounting for the reduction of  £5.3m in the carrying value of the French operations (Hemming, 2010, p1). The business is well positioned to capitalise on its core strengths as the economic environment starts improving (Majestic Group, 2009, p1). The companys acquisition of Lay and Wheelers fine wine business in 2009 has contributed  £12.4m to 2010 sales (LSE, 2010, p1). It is to the credit of the group that the total dividend for the year has been raised by 5.1 percent, to 10.3p per share, against last years 9.8p, despite continuing market pressures (LSE, 2010, p1). The Underlying basic earnings per share (EPS) for 2010 at 18.4p were 31.4% higher than the 2009s 14.0p. The underlying diluted EPS for the same period at 18.3p rose 30.7% against the previous years figure of 14.0p. The basic EPS for 2010 at 18.4p was 247.2% more than the 2009s 5.3p. The diluted EPS for 2010 at 18.3p was 245.3% more than the 5.3p achieved in 2009 (LSE, 2010, p1). The average transaction expenditure at  £129 for 2010 is 4 percent lower than 2009, despite a growth of 14.6 percent to 1.7m in transaction numbers (LSE, 2010, p1). The UK like-for-like sales for the 10 week period from 30th.March, 2010 to 7th.June, 2010 rose 7.3 percent (LSE, 2010, p1). The company is expected to improve its sales in future. The retailers professional credentials and good service levels have produced considerable loyalty amongst its patrons, which will be of assistance in the present economic climate. Majestic will also probably not be impacted by the recommended changes to alcohol pricing as its focus is more on the superiority of its offering than on its price (TradingMarkets.com, 2010, p1). It is recommended that shareholders should steadily increase their investments. Larger positions should be taken if the group management shows persistent and aggressive efforts to achieve its growth target of 250 sites within a decade and change its conservative capital gearing. The company however needs to address its short term liquidity in order to be ready for short-term contingencies. 2.3. Mission Statement Majestic Wines progresses its mission of providing wine of high quality backed up with superior customer service through its clearly differentiated retailing model, with its core excellent value straddling the price range, its captivating product offering, and most of all, its compelling and distinguishing customer service proposition (Majestic Group, 2009, p1). The companys commitment to its mission is exemplified by the recognition accorded to it as the High Street Chain of the Year, in 2008, by the International Wine Challenge Awards. The Group was also awarded The Specialist Wine Chain of the Year by Decanter magazine in 2008 (Majestic Group, 2010, p1). The companys strength in customer services emanates from its ability in recruiting and retaining high quality graduate level staff, its continual investment in comprehensive training programmes, (widely accredited as best in the wine industry), and its focus on customer service, product knowledge and management (Majestic Group, 2010, p1). Majestic augments its specialist credentials by focusing on its staff training. New staff members tend to take the course qualifying for the Wine and Spirits Education Trusts (WSET) Advanced Certificate in six months. In fact, several employees train further: 149 staff members presently have, or are qualifying for the WSET Diploma, even as 7 of Majestics personnel received Excellence Awards from WSET in January 2010 (TradingMarkets.com, 2010, p1). Majestic distinguishes itself from its competitors is by cultivating strong customer relationships (TradingMarkets.com, 2010, p1). The company hosts numerous events, like wine tastings, and courses to enhance customer knowledge of wine (TradingMarkets.com, 2010, p1). Such approaches, combined with high service levels, have facilitated the retailer in trading its clientele up the value chain (TradingMarkets.com, 2010, p1). The latest annual results disclose that the average value for a bottle of still wine increased by  £0.21 and sales of bottles more than GBP20 grew by 22.7% in relation to the previous year (TradingMarkets.com, 2010, p1). Majestic aims to enhance its fine wine credentials by putting up fine wine display sections in all its stores in the next two years. Approximately around 50 percent of its present stores have such sections (TradingMarkets.com, 2010, p1). 2.4. Environmental Policies Many companies tend to confuse green concerns relating to their own businesses with elementary cost savings measures. This adversely affects the larger green issues that are related to implementation of green processes, products and technologies across such organisations. Environmental issues the company including the collections, reprocessing and disposal of the recyclable waste material. A pioneering lightweight British-designed bottle has facilitated the UK wine industry in meeting aggressive targets on reduction of its carbon emissions and glass waste (Greenwise, 2010, p1). The 300 grams (g) screw-cap bottle, the first worldwide, weighs 188g less than the average wine bottle and 40g less than the earlier lightest bottle produced in Britain (Greenwise, 2010, p1). It has been designed and developed, through the Waste Resources Action Programme (WRAP), by Quinn Glass and is currently being deployed by key supermarkets like Tesco (Greenwise, 2010, p1). The ground-breaking design is the outcome of a 4 year program known as GlassRite Wine launched by WRAP in 2006 to spot prospects within the wine sector to generate environmental- cum-commercial savings (Greenwise, 2010, p1). WRAP avers that the project currently has accomplished the targets, with which it was launched, of decreasing glass bottle weight by approximately 27,000 tonnes with using lighter weight bottles and increasing recycled glass usage in UK wine-bottle production by 44,295 tonnes per year (Greenwise, 2010, p1). In terms of CO2 savings, the project has further contributed almost 35,000 tonnes per annum (Greenwise, 2010, p1). Nicola Jenkin, in charge of WRAPs drinks category business, stated that huge opportunities are still present in using lighter-weight bottles in the global wine supply chain (Greenwise, 2010). She elaborated that the pioneering 300g wine bottle was presenting considerable potential in UK alone for reducing glass and carbon wastes (Greenwise, 2010, p1). Further, she clarified that use of these bottles for all wine sales within UK itself would produce glass saving of 153,000 tonnes per annum, equivalent to the weight of over 460 jumbo jets resulting in axing CO2 discharges by 119,000 tonnes (Greenwise, 2010, p1). Another major success of the GlassRite project has been in promoting bulk importation wherein the wine is transported in vats instead of being bottled at source (Greenwise, 2010, p1). Consequently, WRAP has confirmed that emissions have been cut by 40 per cent (Greenwise, 2010, p1). Majestic Wine would do well to adopt environmental friendly policies in view of the enormous potential for savings possible in adopting green processes and practices along its entire supply chain. 2.5. Majestic and Major Competitors strengths and weaknesses The retail wine industry is intensely competitive. The Group competes with numerous retailers of varying size in terms of criteria like quality, range, price and service. Failure to compete successfully could adversely impact the financial results. Apart from monitoring performance repeatedly against competitors in these spheres, the Group lessens its exposure by guaranteeing that the trade is differentiated from the competition by the quality, quantity and diversity of merchandise at every location, provision of wine expertise as well as dedicated car parking (Majestic Group, 2009, p1). We differentiate ourselves by the high quality of our customer service and advice, the diversity and quantity of stock available to purchase at each store, our dedicated on-site customer parking, wines to taste every day, the ability to order in-store or via our website and the availability of free delivery throughout mainland UK (Majestic Group, 2009, p2). Constellation Brands along with Fosters Group, owning brands including Lindemans, Hardys and Penfolds and employing thousands of personnel in UK, have charged the Government of demolishing the UK wine business with constant tax rises (Hall, 2010, p1). Both organisations have axed UK jobs and are already shifting investments to other European nations. Last year Fosters cut 10 percent of its UK labour force (Hall, 2010, p1). Peter Jackson, Fosters MD for Europe, Middle-East Africa division, stated that 55 percent of a  £4.32 priced wine bottle, an average UK price-tag, is spent on taxes; approximately  £1.60 is excise duty, 65p is VAT and 11p is the Common Customs Tariff (Hall, 2010, p1). Research conducted for The Sunday Telegraph reveals that, whilst the price of a wine bottle has risen by 25pc since Labour Government ascended to power in 1997, its duty has increased by 53.3 percent (Hall, 2010, p1). Earlier in the month EJ Gallo Winery, makers of wines including Turning Leaf and Carlo Rossi, stated that it will continue curtailing its UK range in 2010, because high levels of promotions and the brutal tax regime make it tough to do business (Hall, 2010, p1). Cheap alcohol traded by supermarkets has struck off-licence chains very hard. Wine Rack and First Quench owned Threshers collapsed last year benefiting Majestic (Sunday Times, 2010, p1). Majestic steer clear of challenging supermarkets on price but instead claims to provide more products and better service. Majestics share price has risen 38% in the past year to 272.5p, valuing it at  £167m (Sunday Times, 2010, p1). The UK is recognized worldwide as a sophisticated wine market and it is surprising that it short-changes sophisticated wine consumers the aspect of procuring fine wine by the single bottle (Sunday Times, 2010, p1). The number of high-quality wine shops has dropped sharply due to competition from supermarkets, which sell over 70% of wine in Britain, and high rents as well as the current growth in online wine sales (Sunday Times, 2010, p1). However, the finest places in UK to procure expensive wine are within London, where departmental stores like Harrods, Selfridges, Harvey Nichols and Fortnum Mason proffer fancy bottles at a price (Robinson, 2010, p1). The 2009-20 financial year results further highlight that specialists can be successful when faced with severe competition from supermarkets if they can offer outstanding levels of quality, service and range (TradingMarkets.com, 2010, p1).

Martin Luther Kings Leadership :: MLK Leaders History Essays

Martin Luther King's Leadership One of the world’s best known advocates of non-violent social change strategies, Martin Luther King Jr. (MLK), synthesized ideals drawn from many different cultural traditions. Recent studies of him emphasize the extent to which his ideals were rooted in African-American religious traditions which were then shaped by his education. The image of a social activist and leader was the result of extensive formal education, strong personal values and licit ethics. This excellence in leadership can be traced to his character which is shaped by his moral values and personality. We look at MLK and these traits to reveal the rationalization of his rise to transracial leadership in our society. Through studying the life and example of Martin Luther King, Jr., we learn that his moral values of integrity, love, truth, fairness, caring, non-violence, achievement and peace were what motivated him. King is not great because he is well known, he is great because he served as the cause of peace and justice for all humans. King is remembered for his humanity, leadership and his love of his fellow man regardless of skin color. This presence of strong moral values developed King’s character which enabled him to become one of the most influential leaders of our time. Integrity is a central value in a leader’s character and it is through integrity that King had vision of the truth. The truth that one day this nation would live up to the creed, "all men are created equal". No man contributed more to the great progress of blacks during the 1950’s and 1960’s than Martin Luther King, Jr. He was brought up believing "one man can make a difference", and this is just what he did. Integrity has a large effect on what we think, say and do, it is through King’s thoughts and actions that enabled so many people to have trust and faith in him. Through King’s integrity he believed that America, the most powerful and richest nation in the world will lead the way to a revolution of values. This revolution will change the way society views itself, shifting from a "thing-orientated" society to a "person-orientated" society. When this occurs, King believed that racism will be capable of being conquered and this nation will be "Free at last." King’s unconditional love for all humans was another value that strongly influenced his character and allowed him to have such excellent leadership ability.