An Introduction To The Philippines

An Introduction To The Philippines The Philippines is an island nation located in the Malay Archipelago in Southeast Asia. It has 7107 islands. And has a total area of 300000 square kilometers. At the north side of Philippine the Taiwan is located. At the east side the Pacific Ocean, Indonesia and Malaysia at the south and South China Sea at the west. The capital city of Philippines is Manila which is located in the island of Luzon at the northern part. The total population of Philippines is 98 million. The climate of Philippines is tropical. The culture of Philippines is influenced by Spanish and Chinese. Most of the people having also Spanish surnames. It has generally west European culture, people of Philippines are Christian. Islam is more popular in island of Mindanao. The Philippines has developing economy with agricultural and service sector base. The poverty line is 40% it means 40% of the population remain be poor. The large trading partners of the Philippines are the US and Japan. Philippines is a presidential unitary republic with the president at the apex, as the head of state, the head of government and the commander in chief of the armed forces. He is elected by popular vote, every 6 years. Government policies are design to promote industrial development. 1.1 ECONOMICAL ENVIRONMENT : Economic environment of business has reference for economic systems to operate the business. The business sectors also continue economic relations with govt, capital market, worldwide and households sector. It would affect the trends and formation of the economy. The outer factors that influence with the following points. Economic Conditions :- The economic circumstances are safe in the country. Per capita income, national income, allocation of income and assets, Economic resources, economic growth etc are also affected to prepared the business strategies. Economic growth and business cycle are easily defined the economic environment. System :- The economic system also impact on business endeavor. Economic system of a Philippines also considered socialist, capitalists, mixed or communist. Economic Policies :- The government also decided budgets, economic planning, economic industrial regulation, law of business. Industrial guidelines to control on price and wages, trade and transportation polices the size of national income, demand and supply of different merchandise. Economic Growth :- The economic growth impacts the strategies of business. It helps in rising the economic growth and expenses in consumption. It provides opportunities to the industries for the expansion. v. Currency Exchange :- Current exchanges have direct impact on the environment of business. The rupee was devalued in1991. The Indian products cheaper in the world market and boost exports of India. ECONOMIC CONDITION 2.1 GDP of Philippines : The GDP growth rate provides an aggregated measure of changes in value of goods and services produced by an economy. The GDP growth rate of Country from 1998 to 2012 is average 1.08%. The domestic economy accelerated in the second quarter of 2012 to 5.9% from 3.6%. The earlier year boosting the first semester growth to 6.1% from 4.2%. The resilient Services sector remained the main driver of growth supported by the sustained growth of manufacturing and the return of construction. Philippines is a recently industrialized country in the Southeastern Asia. The most important industries of Philippines are food processing, textiles and garments, automobile parts and electronics. Philippines have also treasury of chromites, nickel, copper, coal and newly discovered oil. Philippines GDP Growth Rate This chart is all about the past data for Philippines growth rate. [Source: http://www.nscb.gov.ph/sna/2012/2nd2012/2012qpr2.asp] 2.2 Per Capital Growth in Philippines : In 2011, it was at 1.98% in Country and it was published by World Bank report in 2012. The Growth rate of GDP per capital depends on continuous local currency. The GDP Divided by Mid Year Population. The GDP of Purchasing Price is total of all resident products in economy (+) product taxes (-) any subsidies which is not included in value of the product. This is calculated without making deduction for depreciation of fictional assets. It includes a chronological chart, news and estimate for GDP. In Southeastern area of Philippines is newly industrialized country. Philippines Predicting food processing Textiles and Garment, Electronic and automobile parts and also significant reserve of Chromate, Nickel, Copper, Coal and Recently Discovered Oil. [Source: http://www.kedingeconomics.com/philippines/GDP.Per.Capitagrowth.Annual.Percentwb.data.html] 2.3 PPP Philippines : Philippine has long familiarity with public-private partnership, initiatives and serves as future investment with aggressive PPP promotion. The Government is to attract private partners to invest only in traditional infrastructure Projects like Power, Transportation and Water Sectors and in Non-Traditional Infrastructure similar to information and communications technology, health and property development. The Partnership addressed in 1990s and it help out to improve road network quality, transport linkages and social Services. [Source: http://www.ppp/gove.ph/] 2.4 International Reserve : Countys beginning gross global reserve is significantly increased up to US $79.3 Billion in July.BSP Governor Amando Letangco said that foreign reserve were US $3.2 Billion higher than GIR of US $76.1 Billion, The Level of GIR Increased in end of July, Due to Foreign exchange operations. The funds of the Country are deposited in foreign currency. The Philippines acquire income from investment in a foreign country of the BSP and gain revolution on BSP gold holdings arising from increase in price of Gold in global Market. The Import of goods and payment of services and income adequately cover in 11.7 months and also corresponding 10.7 times. Philippines short term outer debt based on original maturity. [Source: http://www.sunstar.com.ph/breadkingnews/201208/] ECONOMY OF PHILIPPINES Population : 95.9 Million GDP (PPP) : $351.4Billion : 6.1% growth in 2012 : 5.5% 5-year compound annual growth : $4,700 per capita Unemployment : 7.3% Inflation (CPI) : 3.60% FDI Inflow : $1.7 billion for 1st Half Quarter 1 Peso : 1.3134 Rupee and 0.0243 Dollar The Philippines ranks 19thout of 41countries in the Asia Pacific region. And 44th the biggest economy on the earth. According to HSBC estimates. The stock market is one of the best performers in the region. The peso reached a 4 year high against the dollar about the same time. Economy has been on a solid path of economic expansion. The govt. has pursued a series of governmental reforms to increase the industrial environment and build up private sector for reduce unemployment. But regulatory efficiency has been not improved. And over last 5 year the economy has been develop at average annual rate of 5%. Rule of Law : The rule of law is not on level and authorized structure is poor in independence and efficiency. The judiciary is independent but there is political interference. There is some progress due to government anti corruption efforts to eliminate corruption and fix efficiently. Limited Government : Government spending Spurs on 6.4% growth in 1st Quarter. Taxable Income Tax Rate More than But less than 0 P10,000 5% P10,000 P30,000 P500 + 10% of the Excess over P10,000 P30,000 P70,000 P2,500 + 15% of the Excess over P30,000 P70,000 P140,000 P8,500 + 20% of the Excess over P70,000 P140,000 P250,000 P22,500 + 25% of the Excess over P140,000 P250,000 P500,000 P50,000 + 30% of the Excess over P250,000 P500,000 P125,000 + 32% of the Excess over P500,000 in 2000 and onward Corporate tax rate is 30% and Regional are taxed at 10% on taxable income. The VAT an environmental tax with overall tax is 12.8% of total domestic income. If any taxpayer fail to pay VAT component in the sales invoice or official receipts shall be penalized as : Fine of not less then P1,000 but not more than P50,000 and Suffer custody of not less than 2 but not more than 10 years. Regulatory Efficiency : The business regulatory environment has improved considerably. Although launching a business still takes more than the world averages of seven procedures and 30 days, the overall process has become less costly. The time and cost involved in dealing with licensing requirements have been notably reduced. The labor market remains structurally rigid, but existing regulations are not particularly burdensome. Inflation is modest. Open Market : The trade weighted average tariff rate is 4.8 percent, and layers of non-tariff barriers further inhibit more dynamic gains in trade. Despite a strong desire to attract longer-term foreign investment, systemic inefficiency exacerbated by heavy bureaucracy discourages dynamic growth in investment. The financial sector, which is gradually modernizing, remains relatively stable and sound. [http://www.heritage.org/index/pdf/2012/countries/philippines.pdf] ECONOMIC POLICIES 4.1 Monetary Policy The international Monetary Fund will look into the countrys progress on the monetary and fiscal policy and assess the 2 year old Aquino administration by short staff visit which is commence. The most accurate forecasters agree on that Monetary authorities are trying to control foreign investment in the Peso arguing that Asias best performing currency has strengthened too much. The economic momentum has built up from decreasing of monetary policy may boost the country is growth in2012 is 5.8% and up to 7 % is 2013. And the govt.s success in containing the budget deficit has been given monetary authorities considered liberty. In 2011 the govt. incurred a budget deficit of 197.8 billion which was less than two third of 2010. The size of economy in overspending in 2011 comprised only 2% less than 3.5% recorded in2010. The debt stock of 2011 settled at P4.95% trillion or 50.9% of gross domestic. [http://business inquirer-net/49369/bsp-monetary-policy-expected-to-push-up-ph-economy] 4.2 Fiscal Policy : The Philippines long term foreign currency credit rating raised from BB to BB+. It kept rating outlook at stable. According to Presidential spokesman Ricky Carandang the Philippines can still afford to undertake public spending without put in to danger its overall financial position. And the govt. doesnt want a strong peso to delay competitiveness of exports. The Philippines economy grew by 6.4% in 1st quarter, it is one of the highest in Asia and upgrade is a vote of confidence for the country. According to finance secretary Cesar V Purisima, that this gives more confidence to continue with the work towards macroeconomic stability, fiscal sustainability and inclusive economic growth. [http://www.philstar.com/Artical.aspx?article Id=824407 publication Sub Category Id=] 4.3 Deficit Policy : The Financial Secretary Cesar Purisima said that the govt. spent P19.90 billion and the deficit was manageable, expressing, confidence the full year fund shortfall would staying within 2.6% of GDP or P279 billion. The govt. continued rise in revenue collections so that the fiscal position remains under control. So this wide fiscal space will gives the advantage to finance infrastructure projects and social programs that curb poverty and promote equality. Jan-May deficit P22.79 billion. The govt.s self imposed 1st half ceiling of P109.34 billion and it spent P668.43 billion in 1st five month of year up 13.1% compared to last year. And revenues reached P645.64 billion. For May revenue grew 9.4% to 131.4 billion while spending reached P151.3 billion. Purisima said that the govt. is committed to reach its 5.6% growth in 2012 and recorded 6.4% expansion in 1st three month. The Philippines suffered a P 197.8 billion budget deficit last year which is equivalent to 2% of GDP. [http://business-inquirer-net /67459/Philippine-budget-deficit-shoots-up] 4.4 Foreign Trade Policy : According to the Global Enabling Trade Report 2012, the rank of Philippines is 72nd out of 132 countries. It measured the factors, policies, services, areas of market access, border administration transport and communication infrastructure and business environment. In the area of market access the Philippines jumped 14 from 64 and in terms of efficiency of import-export procedure it looks 48 spot from 55. And access to imported inputs at competitive prices identifying potential market and buyers corruption at the border and other concerns it places 62 out of 132 countries. The trade chief attributed the countrys improvement in ranking to the debt of Trade and Industrys effort to facilitate trade across borders like the Doing business in Free Trade Areas an awareness campaign has aimed to help stakeholders into understand new markets and instruments like free trade agreement. It reforms to improve the ease of doing business in country through the Philippines. Business Registry (PBR) and Business permits and license streamlining (BPLS) programs for local govt. [http://businessinquirer-net/63369/Philippines-climbs-20-nitches-up-in-business-destination-ranking] 4.5 Balance of Payment : The inflow of foreign currency exceeded than the outflow in Feb and Philippines balance of payments hitting a surplus of $588 million. BOP is recorded of the countrys commercial transaction with the rest of world. It helps beef up the countrys total reserves of foreign exchange or gross international reserves (GIR).It stands at a record high of $78 billion. According to economist the unfavorable global economy that investors have tendency to pull out funds from emerging markets like Philippines. So it create depreciation pressures on local currencies. But with enough reserves of foreign exchange the Bangko Sentral ng philipines can buy pesos and reduce its depreciation and it will hit a surplus of at last $2.8 billion by end of 2011. Due to increase in employment in US an economist said that it would lead to increase in demand for imported goods from Philippines. [http://bus.inquirer.net/50127/bsp-balance-of-payment-stood-at-surplus-in-feb] GLOBAL INTERNATIONAL ECONOMICAL GOVERNMENT 5.1 Import : Philippines import were worth 5101 million USD in June of 2002 until 2012,Philippines averaged imports 4155.20 million USD reaching an all time high of 5848.00 million USD in July of 2008 and low record of 2226.00 million USD in January of2002. Philippines imports mostly considered electronic products, mineral fuel, industrial machinery and equipment, transport equipment, lubricants, steel and iron. Mostly import partners are Japan, china, Singapore, South Korea, United States. Here we include the chart with historical data for Philippines import. Philippines Imports [http://www.tradingeconomics.com/philippines/imports] Export : Philippines exports were worth 4314 million USD in June of 2012. From 2002 until 2012, average export of Philippines 3681.10 million USD reaching an all time high of 5325.00 million USD in September of 2010 and record low of 2506.00 million USD in February of 2009. Major exporter of electronic products like processors, chips, and hard drives (more than 50% of total exports revenue) and other major exports include apparel and clothing accessories, wood crafts, coconut oil and furniture. Philippines major export partners are United States, Singapore, Japan, Hong Kong, china. This page includes a chart with Philippines historical data of Philippines exports. Philippines Exports [http://www.tradingeconomics.com/philippines/exports] 5.2 Corporate Income Tax : The domestic and foreign resident corporations income tax rate in Philippines is 30%, based on net taxable income. Domestic company payable company tax on all income derived from sources outside and within the Philippines. Foreign corporations, whether resident or non-resident are taxable on income derived from sources within the Philippines. Non resident foreign corporations are ,in certain circumstances, subject to a final withholding tax on passive (investment) incomes at rates higher than the applicable tax rates applying to domestic and foreign resident corporations. Resident companies are created or organized under the law of Philippines or foreign companies licensed to engage in business or trade in the Philippines. The corporate income tax rate for domestic and foreign resident corporations is 30%, income tax excluded from are dividend received from domestic corporations, interest on Philippines currency bank deposits and other monetary benefit from deposits substitutes and trust funds and arrangements and final taxes, interest income derived from the foreign currency deposits is include final tax of 7.5% ,other interest earned by domestic and foreign resident corporations is included 20% final withholding tax. Special economic tones enterprises registered with economic tone authority are taxed at the rate of 5% on gross income in lieu of national and local taxes and real property tax. Gross sales or gross revenue derived from the business activity within the Ecozens, sales returns, net of sales discount and allowances less the cost of sales or direct costs but before deduction made for expenses of administrative and losses during the taxable period. [http://www.quezoncity.gov.ph/index.php?option=com_contentview=articleid=226Itemid=347] India 2005-36.59 2006-33.66 2007-33.99 2008-33.99 2009-33.99 2010-33.99 2011-32.44 2012-32.44 The corporate tax rate is 32.445% .Domestic companies tax rate is 30%, profits from life insurance business in India are taxed at the rat of 12.5%.foreign companies are taxed at the rate of 40%. A minimum alternate tax (MAT) is levied at 18.5% of adjusted profit of companies. The tax payable is less than 18.5% of book profits. Dividend distributed from domestic company. Surcharge and education cess is above taxes is applicable.5% surcharge in case of foreign companies is applicable. The total income is in excess of INR 10 million. Education cess of 3% is applicable on income tax plus surcharge wealth tax is imposed at a rate of 1% on the value of specified assets held by the tax payer in excess of basic exemption of INR13million.transaction tax of securities transactions in equity shares and units of equity oriented funds. [http://www.kpmg.com/global/en/whatwedo/tax/tax-tools-and-resources/pages/corporate-tax-rates-table.aspx] HOW ECONOMIC ENVIRONMENT OF PHILIPPINE AFFECTS INTERNATIONAL BUSINESS? The Philippines has certainly had a steady flow of positive economic news recently. On July 4, Standard Poors raised the countrys debt rating to just below investment grade, the highest rating for the country since 2003 and equivalent to that of Indonesia. The Philippines is the 44th-largest economy in the world today, according to HSBC estimates. But if current trends hold, it can leap to the No. 16 spot by 2050. The Philippine stock market, one of the best performers in the region, closed at a record high after the recent S. P. rating upgrade, and the countrys currency, the peso, reached a four-year high against the dollar at about the same time. With $70 billion in reserves and lower interest payments on its debt after recent credit rating upgrades, the Philippines pledged $1 billion to the International Monetary Fund to help shore up the struggling economies of Europe. The gross domestic product of the Philippines grew 6.4 percent in the first quarter, according to the countrys central bank, outperforming all other growth rates in the region except Chinas. Economists expect similarly strong growth in the second quarter. We have made a very bold forecast for the Philippines, but I think justifiably so, said Frederic Neumann, a senior economist at HSBC in Hong Kong. A high population growth rate, long considered a hindrance to prosperity, is now often seen as a driving force for economic growth. About 61 percent of the population in the Philippines is of working age, between 15 and 64. That figure is expected to continue increasing, which is not the case for many of its Asian neighbors, whose populations are aging. 6.1 Trade Economy : The GDP per capita growth (annual %) in Philippines was last reported at 1.98 in 2011, according to a World Bank report published in 2012. Annual percentage growth rate of GDP per capita based on constant local currency. GDP per capita is gross domestic product divided by midyear population. GDP at purchasers prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. This page includes a historical data chart, news and forecats for GDP per capita growth (annual %) in Philippines. Philippines is a newly industrialized country in the Southeastern Asia. The nations most important industries are food processing, textiles and garments, electronics and automobile parts. Philippines also has significant reserves of chromite, nickel, copper, coal an d recently discovered oil. In addition, the Philippians economy relies on remittances as a source of foreign currency. philippines gdp per capita growth annual percent wb data 6.2 Domestic Price : The Philippine domestic economy shrunk to 3.7 percent in 2011, after a stellar growth of 7.6 percent in 2010. Growth was mainly undermined by the severe state under spending as well as the frail external environment. Outlook for 2012 is relatively sanguine with the government hinging its optimism on robust consumer demand and a more vigorous public spending. However, downside risks to growth persist with the global recovery poised to remain slow and uncertain. 2011 domestic economy tepid at 3.7%. The Philippine domestic economy grew by 3.7 percent in 2011, almost half of its 7.6 percent growth in 2010. The growth is within the latest forecasts of the National Economic and Development Authority (3.6-4.0 %) and the International Monetary Fund (3.7%). However, the growth figure is well below that assumed by the Development Budget Coordination Committee (4.5-5.5%), Asian Development Bank (4.7%), and the World Bank (4.2%); and is significantly off the growth target of the Philippine Development Plan (7.0%). Notable is the countrys poor economic performance relative to its neighbors. Except for Thailand, most Asian economies registered higher gross domestic product (GDP) growth rates than the Philippines in 2011. Gross national income (GNI)1 likewise slumped to 2.6 percent from 8.2 percent in 2010. This resulted from the significant contraction of net primary income (NPI),2 which slowed to a negative 0.9 percent, a turnaround from the 10.0 percent growth in 2010 6.3 Labor Force : Unemployment down to 7%. The countrys labor force numbered at 61.9 million in 2011. Of this number, 2.8 million were unemployed registering an unemployment rate of 7.0 percent. Moreover, the service sectors share of total employment increased from 51.8 percent in 2010 to 52.1 percent. Agriculture accounted for 33.0 percent of the employed while industrys share was 14.9 percent. Although the economy managed to generate more than one million jobs in 2011, the quality of employment is still a concern given the substantial increase in the underemployment rate as well as in the number of unpaid family workers. Latest data showed that the underemployed numbered at 7.2 million 6.4 Inflation : Headline inflation is within target. Headline inflation averaged 4.8 percent in 2011, well within the 3.0-5.0 percent inflation target for 2011 but higher than the 3.8 average recorded in 2010. A rise in the prices of food items had been recorded mainly due to the adverse effect of typhoons on agricultural food supplies. Core inflation,3 on the other hand, averaged 3.6 percent The government is particularly bullish on having higher investments in 2012 as investment pledges registered with the Philippine Economic Zone Authority surged by 47 percent in the first two months of the year. The PSEis breaching of the 5,000 mark for the first time in March 2012 is also said to bode well for the equities market. Likewise, private construction, particularly in the property subsector, is anticipated to remain robust given the upward momentum in office demand and investments in low-cost housing. Demand for commercial spaces will continue to be buoyed by the BPO sector, the revenues of which are slated to grow even further this year by 20 percent. The residential sector is also expected to receive continued support by the robust demand from families of overseas Filipinos. Consumer spending will similarly be sustained by the favorable inflation outlook and the continuous inflow. 6.5 Unemployment Rate : Unemployment means the number of people actively looking for a job divided by the labor force. Unemployment depends on the number of non-employed people who found the job and the people who lost their current job. Unemployment related to labour force, participation rate and employment rate. The unemployment rate of Philippines is 7.2 % which we can show that in the graph. 6.6 Private Sector Development : The stimulus package presented by Gloria Macapagal Arroyo is known as the economic resiliency plan. The package included personal income-tax relief for low- and middle-income earners, reduction in corporate income tax, higher social spending on cash transfers and job-creation schemes, as well as a series of infrastructure projects. Although the reforms were not entirely new, the package led the Philippines to being acknowledged as Asias more socially responsible stimulus plans thanks to its focus on agriculture and social services that directly benefit the poor population. The fall in agricultural commodity prices helped support personal disposable income. As a result personal household budgets were minimally effected. The social component in their reforms may be credited with the largest impact due to the focus on poverty. The Philippines must sustain the reform movement in order to spur investments, increase growth, generate higher employment, and alleviate poverty for the fast growing population. Their reforms have already generated 34 consecutive growth quarters, created 8 million jobs, and maintained the lowest inflation in a generation. Most importantly poverty has decreased while revenue increased and has allowed the nation to invest in human and physical infrastructure. With sustained reform and their economic resiliency the Philippines may soon be a prime investment opportunity in uncertain world economic and financial conditions.

Identification of Bloodstain Patterns

The analysis of bloodstain patterns can be a decisive part of a forensic investigation. The patterns of bloodstains may concur with or challenge the sworn statements of witnesses, victims, and suspects. Such bloodstain patterns simply identify the source of the blood and the direction of the blood’s flight path, but during the process, the events of the crime can be reconstructed with reasonable accuracy. Unfortunately, the old method of analyzing bloodstain patterns, which uses strings, requires much time and effort. It is also subject to human error.To reduce human error, mathematical calculations are used instead, along with a computer software program known as Back Track. Yet, a three-dimensional representation of the results of bloodstain analysis will be more convincing in any court representation. Therefore, in an effort to revolutionize this aspect of forensic investigation, a concerted effort by four researchers from three agencies, Ottawa Police Service, Carleton Uni versity and Royal Canadian Mounted Police, was conducted using the AutoCAD software. The researchers were Kevin Maloney, A. L.Carter, Scott Jory, and Brian Yamashita. The results of their studies were reported in an article published by the Journal of Forensic Investigation, in 2005, volume 55, issue 6, and pages 711 to 725. The article attempts to demonstrate how the combined use of AutoCAD and Back Track programs can create three-dimensional representations of a bloodstain analysis. Summary and Critique The overall purpose of Maloney, Carter, Jory, and Yamashita is to explore the possibility of creating a three-dimensional representation of an analysis of bloodstain patterns.They utilize a simulated crime scene that is typically used at the Canadian Police College. The choice of this crime scene is to have known bloodstain patterns with which the results of the combination of Back Track and AutoCAD can be compared. Both the impact angles and the glancing angles of the bloodstain t rajectories were incorporated into the program. The comparison shows that the computerized calculations of virtual strings created by the Back Track program match the known location of the blood source, with an average error of six centimeters only. These results prove the precision abilities of the said software.However, a major weakness of this study is its unquestionable reliance on the Back Track program. This program has many limitations and it was even pointed out later in 2006 by Andy Maloney (the relationship to one of the researchers is not described). For example, the Back Track is incapable of computing angled surfaces (Maloney, 2006). Yet, despite the limitations, the efficacy of using the program is grounded on established theory and supported by experimental validation (Carter, 2001). There would be expected errors but these are assumed to be insignificant in the overall investigation.At the same time, the software is known to undergo updates and modifications. The gre atest strength of this research is the launching of a better interface between the laboratory science of the forensic team and the assessment abilities of the court. The AutoCAD program has a feature that locks the virtual strings and enables any user to view them from different perspectives. The three-dimensional representation of the analysis of bloodstain patterns is, as the researchers concluded, â€Å"extremely useful in court presentation† (Maloney, et. al. , 2005, p. 724).This article, as well as the research study that it describes, can be considered as a milestone towards a revolutionary aspect of bloodstain pattern analysis. Instead of numbers presented in tabular form or in picture graphs, the results of the analysis can be presented in three dimensions. In three dimensions, the court presentation becomes more realistic, more convincing, and more enlightening, such that the jury can make better assessments. But this article, as far as the advances in forensic scien ce in general and in bloodstain pattern analysis in particular go, can be considered somewhat obsolete.There are now new software or computer programs that can be utilized to produce the same three-dimensional results (Kanable, 2006). This means that in conducting an analysis of bloodstain patterns, a forensic investigator has other options, aside from the combined use of the Back Track program and the AutoCAD. But this wider range of technological tools does not detract from the greatest significance of this article. This article, in great detail and with diagrams, shows how the observed and calculated data are translated into three dimensions. Thus, this article is a recommended reading for every forensic science student.Bibliography Carter, A. L. (2001). The directional analysis of bloodstain patterns theory and experimental validation. Canadian Society of Forensic Science, 34 (4), 173-189. Kanable, R. (2006). HemoSpat: New bloodstain pattern analysis software to hit the market. Law Enforcement Technology, August issue. Retrieved September 28, 2007 from the website of Officer. com at http://www. officer. com/publication/article. jsp? pubId=1&id=32890 Maloney, K. , Carter, A. L. , Jory, S. , & Yamashita, B. (2005). Three-dimensional representation of bloodstain pattern analysis. Journal of Forensic Identification, 55 (6), 711-725.

Louis Vuitton Case Study Essay

The global luxury goods’ marketplace in the past decade has experienced nothing short of a complete evolution and transformation. This industry has endured global economic downturns in advanced economies such as the United States requiring them to branch out of their comfort zones and expand into emerging markets specifically the BRIC countries. These Asian nations possess high GDP rates that are anticipated to increase significantly in the upcoming years. Luxury goods were once a possession of strictly the wealthy, brand conscious consumer with a high disposable income. Within these developing economies reside a â€Å"new breed of young entrepreneurs and noveau riche consumers†, offering large potential within the middle class market for luxury brands (Pan). Although these countries offer significant promise, access will come at the cost of fierce competition, potential of counterfeiting and international trade barriers. Bernard Arnault, the head of the Louis Vuitton Moet Hennessy brands, recognizes that penetration, growth and development in these emerging markets are a critical part of the brand’s long-term global strategy. LVMH is the parent company of around 50 sub-companies that run autonomously and implements the Star Brand formula. The company is determined to capture the growing Asia market with particular focus on China, Japan, South Korea and India. Although these areas are quite affluent and familiar with Western luxuries, LVMH faces difficult challenges such as raising consumer awareness, counterfeiting, and emphasizing purchase within one’s own nation state. The recommendations of this case analysis addresses each of the challenges and offers both a short term and a long-term implementation plan. If LVMH executes the suggested recommendations, the organization will be a global powerhouse by both western and eastern standards. LVMH’s Mission, Vision and Core Values LVMH Mission: To represent the most refined qualities of Western â€Å"Art de Vivre† around the world. LVMH must continue to be synonymous with both elegance and creativity. Their products, and the cultural values they embody, blend tradition and innovation, and kindle dream and fantasy. Five Fundamental Values: Be creative and innovative Aim for product excellence Bolster the image of brands with passionate determination Act as entrepreneurs Strive to be the best in all they do Challenges Maintain Status as the Leader in the Luxury Goods Market Part of LVMH’s mission is to be the leader in the global market for luxury goods. LVMH is the world’s largest and most profitable player in the luxury goods market. They have established this with a product life cycle that emphasized product elegance, quality and uniqueness. The challenge is to stay on top. The vision of the company is to maintain its customer’s loyalty and its strong brand name, while finding new markets worldwide. LVMH is working hard at keeping its star brands in the limelight and constantly reinforcing the value of its brands. Economic Downturns Threat of New Entrants: Multiple distributions channels/marketing strategies Brand loyalty and recognition of larger companies Large investment cost for initial entrance Government intervention (import tariffs) A plethora of distribution channels are available for new entrants into the luxury goods industry. These marketing strategies include but are not limited to franchising, mergers and acquisitions. Many of today’s largest luxury concerns have achieved their success globally through implementation of these approaches. Although opportunity exists for new entrants, barriers are quite high in regards to qualitative and quantitative measures. Mature and established luxury goods brands such as Louis Vuitton and Gucci, have a strong brand loyalty and recognition amongst consumers, suppliers and retailers (Manning-Schaffel). Luxury goods raise awareness and sales to the public through marketing tactics, which are quite costly. With any product in the early stages of the product development there is a substantial initial investment required to create brand consciousness. This is most felt by small and or independent brands. A typical global advertising campaign is extremely costly and ultimately drives sales (Wittner). Lastly, depending on the country a luxury good is looking to penetrate government intervention and import tariffs may act as a barrier, especially in the Asian market. In China alone, import duties have increased from 10% to 30% since 2007 (hktdc.com). Regardless the amount of tariffs imposed and transportation costs make it quite difficult for new entrants into the  luxury goods global market place. Bargaining Power of Suppliers: Various suppliers available Independent sourcing initiatives Supplier bankruptcy Within the luxury goods industry, a suppliers’ role is to provide materials such as fabric, and raw goods in order to create the end high quality end products. The number of suppliers varies based on geographical location and specific material need. Hence supplier power can vary but in most cases is quite high. Therefore because some raw materials are limited and/or more costly across the globe many concerns are taking matters into their own hands. The brand Hermes is a perfect example of this. In the past the group had worked with crocodile suppliers in Louisiana, but due to high charged costs this changed (Wheeler). Instead the luxury group now breeds its own crocodiles in Australia independently in order to address global demands for the Birken handbag (Jlieman). During the current economic times and conditions many suppliers have been forced to file bankruptcy. This has a detrimental effect on many luxury concerns. According to one article, â€Å"the company would lose time trying to buy materials directly, resulting in a delay in the construction† (Jieman). The time it takes to switch suppliers is also one that is quite costly to the luxury concern. Bargaining Power of Buyers: Global economic & security crisis Brand recognition and perceived value High concentration of distribution channels There have been several notable economic and security crises that have occurred globally, which have had significant impact on the luxury goods market place. Therefore buyers (consumers) have a significant possess a tremendous amount of power. The last few years have shown that no country is invincible to recession. This point is evident in the Asian financial crisis, the current United States recession and most recently, the debt crisis of the European Union. Strict financials are not the only woes causing decrease sales in the luxury goods industry. Decline in travel is also attributed to security issues. These security concerns include the terrorist attack on the United States in 2001, as well the SARS outbreak and chicken flu within Asian in 2003. Each of these events has had a detrimental effect on the luxury goods market (Prince Associates 2008). Security measures have escalated tremendously and are conducted far more thoroughly therefore increasing travel. The luxury goods market therefore has seen considerable growth (Prince Associates 2008). Many residents within Asia will travel internationally for western goods due to perceived quality and value associated with specific brands, such as Louis Vuitton (Chadha). There is a high concentration of distribution channels of luxury goods ranging from high-end retail chains to privately owned boutiques. Due to the global recession, buyers within these channels have a substantial amount of bargaining power. It is important to note that this bargaining power varies significantly around brand. For example, Louis Vuitton and Hermes offer no sales or discounts to their products regardless of geographical location. Therefore there is little bargaining power possessed by buyers. It is this lack of negotiation to both consumers and buyers that increased the perceived value of brands (Noor). Threat of Substitutes: Counterfeit merchandise presence Increase in discounted designer goods Purchase of designer goods overseas versus in home country Although many financial opportunities exist for luxury brands to expand their availability internationally, there is also a presence for threats of counterfeits. These risks are most often associated to Asian markets, in particular China and Hong Kong. According to a USA Today article, it has been calculated that 80% of all confiscated counterfeit luxury goods originate from China (O’Donnell). This imitation merchandise is available through an array of distribution channels ranging from the street vendors to online store sites. These outlets allow for individuals to purchase these goods at a low cost regardless of geographical residence. Therefore, threat of substitutes is radically high. In a time of global recession, many designers have adjusted their products to a cost effective strategy. Products such as Prada and Gucci for example allow for their high-end merchandise to be sold at a discounted price in order to reduce inventory. In addition, designers such as Vera Wang and Dana Buchman have created lines to be sold at retailers such as Target and Kohls to appeal to the middle class (Coffey). Jimmy Choo who also offers a special line to H&M in certain geographical areas implements this sales strategy (Sibbles & Pidd). Louis Vuitton as mentioned above does not offer sales or discounts on any fashion or leather goods merchandise and therefore runs a high risk of substitution to price sensitive consumers (Noor). Prices are raised internationally in order to offset the price of import tariffs to certain geographical settings. For example for European luxury brands in order to import goods to the Asian market the price of the good significantly greater than one would pay in a European country. This has caused the threat of substitutions to rise. Competitive Rivalry: Large concerns economies of scale Availability of counterfeit merchandise Shift from â€Å"superluxe to simpleluxe† (Wheeler) Competitive rivalry is exceptionally high globally in the luxury goods market. This occurs because of the existence of many large economies of scale, availability of designer counterfeit merchandise, low cost designer products, and a shift from expensive elaborate brands to more simplistic less expensive ones. One reason in particular is that there are several large concerns of economies of scale. These concerns include but are not limited to Louis Vuitton Moet Hennessey, Gucci and Cartier. According to hoovers.com, â€Å"Large companies have advantages in economies of scale in operations, can more easily raise capital, and have strong name recognition†. It is with this available capital that successful advertising campaigns have been launched, driving market share and consumer brand loyalty. As mentioned previously, the availability and demand of counterfeit designer goods is on the rise. Availability of this merchandise decreases sales of the legitimate designer products. According to one article by Donald Brown a journalist from the Independent, â€Å"Research has found as many as seven out of 10 buyers of luxury goods are willing to â€Å"mix and match† designer brands alongside known fakes. And evidence has emerged of a soaring market for â€Å"lookalike† goods in which cheaper products are passed off as the real thing, simply without the designer label† (Brown). The depressed global economy has been named the main culprit in even the rich and wealthy seeking â€Å"simpleluxe vs. superluxe† (Wheeler). This transition defined in an article by Karen Wheeler is that many people, â€Å"†¦are looking for now is simple-luxe – smaller, accessibly priced luxuries that improve everyday life rather than flaunting your wealth† (Wheeler). This phenomenon has been seen across continents, as individuals are not willing to spend a month’s salary on a luxury good, therefore impacting the luxury goods industry tremendously, especially on sales of their bigger price tag items. Alternatives LVMH should introduce security labels to eliminate counterfeiting and for â€Å"gray-market† protection. Pros: Implement â€Å"intelligent security labels†, a unique label that will identify genuine Louis Vuitton products from counterfeited products. Louis Vuitton created the signature monogram Canvas to prevent counterfeiting. The company takes counterfeiting seriously and employs a team of lawyers and special investigation agencies that are actively pursuing offenders through the courts worldwide. LVMH is allocating a significant budget amount to counteract piracy of its goods. The company closely controls the distribution of its products; Louis Vuitton sells its products strictly through its own retail stores, small boutiques in high-end department stores and online through its website. Cons: Louis Vuitton is one of the most counterfeited brands in the fashion world  due to its image as a status symbol. LVMH faces a †gray-market† in Asia, where handbags cost 40% more in Japan than they do in France. Arbitrage business of handbags – people fly to France to buy handbags for the purpose of resale through parallel channels in Japan. LVMH should increase the number of Duty free shops and airport stores presence around the world. Pros: Over 100 million of Chinese travel annually and Duty-free shops are important shopping locations for Chinese travelers. On average Chinese travelers spend $928 on shopping in duty-free shops and airport shopping during their outbound trip. Shopping is considered a â€Å"must-do† by most Chinese travelers when traveling overseas. Chinese outbound travelers tend to be young (20-39 years old), well educated and with higher income, working professionals, tech-savvy and fashionable (interested in cutting-edge gadgets and latest fashions). Confectionery, fashion, fashion accessories and cosmetics are the most popular or international branded items purchased by Chinese travelers during their foreign overseas trips. India has been ranked as one of the fastest growing travel and tourism economies in the world both for inbound and outbound travel. India has an increasingly affluent middle class with growing disposable income willing to spend on luxury items. The product categories mostly purchased by the Indian outbound travelers on their trip abroad are confectionery, fragrances/perfumes, fashion and accessories, leather goods and cosmetics. Duty-free shops and stores at overseas airports are the most frequented purchasing places for Indian travelers. Shopping at Duty-free shops and airport stores is more impulse driven than pre-planned for Indian travelers which they expect to see various offers available such as exclusive fine gifts or exclusive fashion collections. There is not much else to do at most airports other than walk around window-shopping and occasionally making purchases. Cons: Price difference can be quite large from one duty-free to another, depending on its location, sometimes for the same size, brand and product purchased. Even though Duty-free shops do no apply local or national taxes and duties, shoppers may still have to pay duties in their home country on items purchased from a duty-free shop. LVMH should reach out to the middle-class  customers who are willing to purchase luxury items. Pros: Sales of luxury products are on the rise in Asia-Pacific area. Growing middle class in India and China is increasingly buying designer goods. In India, shoppers mainly comprise of â€Å"status seekers† and â€Å"technology savvy†. Cons: In order to make their products more affordable for middle-class consumers, LVMH might have to compromise on quality, by lowering labor costs or moving production offshore. Using less skilled workers and the ability to provide more merchandise lines to their stores, could make the brand less exclusive in the long run because of increase in popularity and mass appeal. Open manufacturing plant for handbags in India Pros: Reduce/Eliminate tariffs and transportation costs. India has an English-speaking population. Improved social and political stability in India. India has cheap labor force and will cost the company less to manufacture the handbags. Growing middle-class with disposable income willing to spend on luxury items. Cons: â€Å"Made in France† was an important selling point at LVMH, although 2 of 14 factories were in Spain and one in California. Customers expect western quality. Buyers in India are concerned with being offered the latest products and designs. The myth of the brand is linked to where the product is manufactured. Compromise on quality by slashing labor costs and making the products in India. Conditions in operations in India are not promising. Create new markets and advantages by introducing LVMH brands to children/teenagers Pros: Introduce LVMH brands to kids – they become lifetime customers. Create new markets by offering merchandise specifically to children/teenagers. These offerings will allow for womb to tomb mentality and increase customer lifetime value as well as brand loyalty. Cons: Investment and research is costly. Very risky. Small market segment. Recommendations Combat Counterfeiting Diversification of product lines and innovation is essential for LVMH to stay ahead in the luxury goods market. One-way LVMH to achieve this is to extend their customer base to include children and teenagers. â€Å"Many reports indicate luxury buying is supported more from Baby Boomer grandparents and relatives who are eager to spare no expense. Some experts even theorize that the lavish spending and pampering is due to an opposite psycho-economic creation to a person’s own strict upbringing,† (Mesa). Parents are also experiencing higher incomes and tend to save on certain items the families consume but are â€Å"trading up on products for loved ones – specifically children and pets,† (Mesa). Children also have more say in regards what products they prefer. Children and teenagers are experiencing higher allowances than we’ve seen in the past (Mesa). Louis Vuitton would not be the only luxury goods brand when launching children’s and teenage product line. Luxury goods producers such as Dolce & Gabbana and Versace embraced this opportunity and broadened their product lines by launching clothing lines. Dolce & Gabbana launched the ready-to-wear line D&G Junior and â€Å"offers a unique 2004/2005 collection aimed at newborns and pre-teens,† (Mesa). Versace rolled out a clothing line that target kids ages 4 to 14 (Mesa). This strategy may prove to be risky and LVMH will have place investments towards research and development and eventual marketing and advertising costs upon launch. The children’s market, although potentially lucrative for a business, is a small segment. However, Louis Vuitton, among other luxury brands, has already entered in the baby market through products like baby bags. This will provide LVMH with leverage in that particular product segment. â€Å"Since baby bags are more about a fashion accessory with functional benefits for parents to carry, it is not surprising that luxury handbag makers have jumped on the baby bandwagon,† (Mesa). Many products such as mini-handbags, jewellery, and shoes can be diversified and included in the children’s product line. Works Cited (2009). DATAMONITOR: LVMH Moet Hennessy Louis Vuitton SA. LVMH Moet Hennessy Louis Vuitton SA SWOT Analysis, 1-8. Retrieved from Business Source Complete database. Boorstin, J. (2005). Louis Vuitton Tests a New Way to Fight the Faux. Fortune, 151(10), 34. Retrieved from Business Source Complete database. CLCB Website (2009, October 22). LVMH Acquires Chinese Traditional Spirits Distillery: Could Westerners Be Sipping Baijiu In Coming Years? Retrieved February 21, 2010, http://chinaluxculturebiz.wordpress.com/2009/10/22/lvmh-acquires-chinese-traditional-spirits-distillery-could-westerners-be-sipping-baijiu-in-coming-years/ EU Business Website (2007, March 31). India in Advanced Talks with EU to ‘Correct’ High Liquor Duties. Retrieved February 23, 2010, http://www.eubusiness.com/topics/trade/india-eu.34 Fitszimmons, E. (2008, September 8). LVMH to Boost Awareness. Retrieved February 21, 2010, http://www.media.asia/searcharticle/LVMH-to-boost-awareness/2008/32488?src=relate Foster, D. (2007, February 21). Dressing Lean: Louis Vuitton Edition. Retrieved, http://www.evolvingexcellence.com/blog/2007/02/dressing_lean_l.html Haisma-Kwok, C. & Jones, G. (2009). Arnault Bullish On LVHM, China. WWD: Women’s Wear Daily, 197(109). Retrieved from Business Source Complete database. Kerns, J. LVMH Moà «t Hennessy Louis Vuitton SA. Retrieved February 20, 2010, http://www.answers.com/topic/lvmh-mo-t-hennessy-louis-vuitton-sa

Career Planning from the Perspective of Management - Free Essay Example

Sample details Pages: 3 Words: 790 Downloads: 6 Date added: 2019/03/11 Category Career Essay Level High school Tags: Career Plan Essay Did you like this example? Career Planning from the Perspective of Management I am very accustomed to spending a small amount of time to achieve great results. I used to prepare my resume only one day before the job interview and focusing on what should have been done until the very last minute of the competition. The results have always been good (or to say, not bad), so I just keep following this â€Å"last minute rule†. Don’t waste time! Our writers will create an original "Career Planning from the Perspective of Management" essay for you Create order I always feel that if I work hard for a few weeks or such, I can always get what I want. However, sometimes I do have some doubts: I have spent a whole weekend, forty-eight hours to modify my resume, why is it not good enough? Or I have spent a month practicing myself for an internship, why didn’t I have any results? I have already started preparing for the interview, and I have been practicing in a whole week, why is it not enough? Planning matters We all think that one weekend, one week, or one month is enough for preparing our important life events. In fact, it’s insignificant. I’ve been in the United States for about two years. During this time, I found that most of my classmate start their career planning in a very early stage, especially for job hunting. Their â€Å"unit† is not a few days or a couple of weeks, but a few years. I have seen countless sophomores writing their resumes before the start of the school, planning what kind of research and training skills they would like to gain for their sophomore year. They usually start interview practicing and start thinking about the company they want to go after their graduation. Step by step, right on target. This is the power of planning. Plan your future ahead of time and implement it based on your own situation and resources around you. The most typical is the 10,000-hour rule: if you want to be good at something, you have to work on it for at least 1 0,000 hours. When I want to give up a task I started a month ago, do other people still move forward with determination? When I feel that something is unfair, does other people take more time to execute and less time to complain? There is no crash in the world. The success of one’s life must be accumulated step by step. Motivation Can Be Used Not Only In Manage People But Manage Ourselves What all career problems have in common is the gap between the reality and what we expect. We hope that our careers are flat and direct. Instead, they may be a combination of internal desires and external pressures. The inner desires are always full of blessing, with a little bit of greed; but the external pressure always squeezes them, strong and ruthless. This kind of conflict is inevitable. The complexity of the real world gives our career multiple choices. In my opinion, no answer will guarantee your success and satisfaction in career issues, and a decision on an important career problem often leads to a series of unforeseen problems. It might be a bit frustrating because there are always unexpected situations breaking the original forecast, after that your plan must be adjusted accordingly. At this point, the motivation theory in applied management becomes even more important. Motivation is the forces that energize, direct and sustain a person’s efforts. Inspire yourself and affirm yourself, even if you encounter thorns, tell yourself that there is never an easy way to go. After recognizing this, it is easier to accept the various tests of various levels. Make Career Decisions And Make Informed Career Choices It is not easy to make career decisions through a rational process. It requires us to identify professional prospects, explore career choices, and study our own personality traits before we can explain our career choices to ourselves or others. I think collecting the career information we are interested in is a core part of career planning, and the choice of career depends on the information we collect. To determine if a job has the characteristics we want, we need to know: the nature of work; education/training experience; salary returns; working environment; employment and promotion prospects; personal satisfaction; related occupations, etc. Then, where to get such trivial and complex information? Ways to collect career information include accessing publications, communicating with incumbents or industry experts, and experimenting with actual work. In the process of collecting, it is necessary to ensure that the information is accurate, up-to-date, objective, comprehensive and easy to read, which will make our gains even greater. Works Cited â€Å"Flashcard Machine Create, Study and Share Online Flash Cards.† Lighting Design Flashcards, www.flashcardmachine.com/chapter-10motivating-people.html.