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Transparency in Central Banks: An Analysis

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Transparency in Central Banks: An Analysis. Introduction The origin of central banking system can be traced back to 1694 when the Bank of England came into being as the first ever central bank. The bank was established to help King William III out of his government’s financial crisis but it did not behave as a lender of last resort until much later (See Lovell, 1957)1. Central banking has undergone a remarkable change during the last decade. The new paradigm in monetary policy appears to be central bank self-governing and transparent. First of all let’s see what central bank and transparency means, a central bank is a Government agency that performs a number of key functions: (1) central bank is the only bank which has the authority to issue currency on behalf of its nation; (2) central bank has authority to increase and decrease the supply of credit in the economy which controls the interest rates; (3) manages the external value of its currency in the foreign exchange markets; (4) central bank holds a percentage of deposits as reserves of other banks and other central banks so as to reduce the risk of banks overextending themselves and suffering from bank runs, (5) acts as Fiscal Agent for the central government, when the government sells new issues of securities to finance its operations; and (6) The central bank also plays a vital role of reserving the nation’s emergency funds, and it is because of this the central bank is called “lender of last resort”. Transparency in the physically meaning, transmitting light, in the conceptually meaning, clarity, in the economically meaning, symmetric information, and in the practically meaning, openness, honesty, clarity, common understanding2. We can say that central bank is a combination all these that is, it openly correspond or communicates important and necessary information to the investors, shareholders and the public in short “absence of asymmetric information between central bank and other economic agents”. Therefore a central bank is said to be transparent when there is less or no information asymmetry. Moreover a central bank is said to be transparent if its actions are easily identified, its policies are readily understood, and its statements are honest or true. “A central bank is transparent when it provides at all times sufficient information for the public to understand the policy regime, to check whether the bank’s actions match the regime and to pass judgment on its performance.”3 Over the past years, financial institutions have tried to implement various strategies to increase its transparency. One of the important strategies among these is, disclosure of information in published accounts has been prominent even though it was present but less prominent. A great amount of focus was given towards economic policymaking so as to become more transparent – particularly with respect to monetary policy, inflation targeting a very transparent monetary policy regime was adopted by and a number of central banks, including Sweden’s Riksbank and Britain’s Bank of England. Yet, few other countries like the United States have not yet subscribed to inflation targeting, but the Fed has also become much more transparent about its policymaking and operations over the past 15 years. The New Basel Accord (Pillar 3) has introduced a number of disclosure requirements that aim to improve the market’s ability to assess a bank’s risk and value. The drift towards central bank being more transparent can be easily seen in our day to day life by casual observation. Some of the prominent examples of various central banks who have given great importance to becoming transparent are the central banks of New Zealand, Canada, the United Kingdom and Sweden. These few nations have adopted a framework of ‘inflation targeting’ from the early 1990s itself, which is characterized by an explicit inflation target and the publication of inflation forecasts.4 Many others countries have even started to give importance to having adopted greater openness as well, even if it’s not in the form of inflation targeting or inflation forecasting. The few other central banks which have adopted this includes central banks in emerging markets like Brazil, the recently founded European Central Bank (ECB), and even the well established central banks like those of the United States, Japan and Switzerland. Literature Review “Consider the legions of economists whose sole function it is to interpret U.S. Federal Reserve Chairman Alan Greenspan’s every twist and turn of phrase so as to divine which way the monetary winds are blowing.” – Caroline A. Baum, The Last Word p.645 From the above phrase, two important points can be looked upon; one is that by trying to assume what the actions of monitory policy will be the resources are used up. The other is that statements are being made by the central bank that might yield some insight into its future plans, but the messages are not typically transparent. The economic policy outcome can easily be identified to a great extend by the increased transparency on central bank through various channels. It cannot be assumed that all the aspects points out the same way. Moreover, central bank transparency cannot be universally defined in all aspects6. The concept of transparency differs from authors to author in various ways, some may focus mainly on the decision-making process, while some others may focus on various other aspects like models, preferences, and even more some may look into the knowledge about the shocks hitting the economy, or the implementation of policy decisions.7 The private information’s about the central bank’s objectives or intentions can be easily assumed from the models derived by Faust and Svensson (2000, 2001), Jensen (2000), Geraats (2001a), and Tarkka and Mayes (1999). The model by these eminent economist states that, “transparency is modeled as the degree of asymmetric information about control errors (Faust and Svensson (2001) and Jensen (2000)) or (anticipated) economic shocks reflected in the policy instrument” (Cukierman (2000a,b) and Tarkka and Mayes (1999)). Kuttner and Posen (2000) yet another eminent economists explains about the reduction of exchange rate volatility when there was a shift in the Federal Reserve’s and the Bank of Japan’s degrees of transparency.8 In addition to this, political pressures, increased accountability, facilitation of fiscal and monetary policy co-ordination, and improved internal organization of central bank analysis is yet another arguments in favor of transparency in monetary policy.9 Analytically, the three different regimes of transparency that is the least transparent, highly transparent and the extreme transparent are being distinguished by Faust and Svensson (2001). In the first regime, that is the least transparent, neither the employment goals nor the intentions of the central bank can be seen by the public. Inflation intentions of the central bank can be easily observed by using the second regime that is highly transparent. As a result of this increased transparency in inflation intentions there arises a lower inflation rate because the sensitivity of a central bank is increased which in-turn increases the reputation to its actions, making it more costly for the central bank to pursue a high-inflation policy. In the extreme transparency regime, that is the third according to the author, both the intentions of the central bank as well as the employment goals can be seen. The central banks reputation as well as its actions are no longer conveyed about the inflation bias. Higher inflation, inflation volatility and unemployment variability can be reached at as a result of inflationary bias.10 Yet another similar structure to Faust and Svensson (2001) was adopted by Jensen (2000) assuming that central bank is informed privately about its output target and that public’s capacity to assume the inflation control error is greater. On comparison with Faust and Svensson (2001), who’s main focus was on the future credibility effect of central bank, while Jensen (2000) focus was towards the marginal cost of inflation within the current period with the help of new Keynesian elements (staggered price-setting and monopolistic competition). Due to this increase in the transparency, there was an increase in the discipline and credibility to the reputational costs of deviations from the inflation target. According to some of the eminent economist, transparency is not only the tool used for independent central banks to be held accountable, but it is often argued that the economic point of view too can be desirable from it. The effect of central bank being transparent is being immensely discussed by various policymakers and researchers. Although most of the literature tends to favor transparency of central bank, it’s not the case, the debate still continuous whether or not central bank should be transparent or not. Most of the practical and observed research concludes that the transparency maintained by central bank previously were desirable from an economic point of view. An important question to be asked is, whether central banks pushing toward more disclosure of information are beneficial or not. Indeed, there are a number of good reasons to it. First, it can be argued that banks from the early time itself are opaque institutions, and increase in disclosure might not change this opaqueness. Second of all, transparency might not necessarily be reached at by just simply increasing the quantitative disclosures. In the words of Federal Reserve Chairman Alan Greenspan: “A more complex question is whether greater volume of information has led to comparable improvements in transparency of firms. In the minds of some, public disclosure and transparency are interchangeable. But they are not. Transparency challenges market participants not only to provide information but also to place that information into a context that makes it meaningful” (Greenspan 2003, p. 7).11 Third, disclosure is costly. Clearly, “requiring disclosure of information imposes a cost on banks, as on any firm, and this cost must be offset by resulting benefits for it to be justified” (Schaffer 1995, p. 26).12 Publishing information and producing information are some of the direct cost involved in the cost of disclosure, even though these are the direct cost involved, when a bank publishes its information in the financial market, there arises a threat of its competitors exploiting the information which might result in indirect cost. Cukierman and Meltzer (1986) eminent economists developed concept of central bank transparency13. Bankers, mainly the central banks use of monitory policy control was in great fault or imperfect in order to hide their intentions. In other words, the absence of transparency with control error was evident to meet the central banks objective, at least possible reputation cost. More recently, with the setup from the Cukierman and Meltzer, Faust and Svensson (1999) was able to differentiate more between transparency and control error. Central bank chose the pair that maximizes it objective and it was to be opaque. There are still some argument that incomplete transparency is optimal, as by being incomplete optimal, the central bank’s ability to control inflation has to be balanced against the private sectors wish to see price stability, employment and output.(see for example Faust and Svensson, 2001 or Jensen, 2000). Others argue that for operational reasons, it is important to have certain restrictions on transparency. The main idea behind this is to differentiate between the ‘need to know’ (see Eijffinger and Hoeberichts, 2002) and ‘the need to understand’ factor (Issing, 1999) and to reinforce the Bank’s credibility. There are yet more evidence of central bank being transparent and central bank transparency being one of the important feature of monetary policy, which is been recorded in one of the most comprehensive survey being conducted till date on monitory policy of central bank. It’s been recorded in the 1998 survey of 94 central banks by Fry, Julius, Mahadeva, Roger and Sterne (2000). This survey discloses that about 74% of central banks consider transparency as a vital or very important component of their monetary policy framework, only exceeded by central bank independence and the maintenance of low inflation expectations (with 83% and 82%, respectively; Fry et al. (2000, p. 135)). Subsequently, the relevance of transparency have only increased when certain changes are being done by central bank. Analysis According to one of the famous journalist, Caroline A. Baum, she says that from the phrase given by Alan Greenspan, the U.S. Federal Reserve chairman, the resources are being used up at the same time the statements made by the central bank are far too less transparent. What it means to say is that the central bank should be more transparent enough so that its monitory policy at the same time its future plans can be easily understood by even a layman who might have little knowledge about the norms and policies of the central bank. By central bank being more transparent, the economic policy outcome can be know to a certain extend through various means, but it cannot be said that by central bank being transparent, all the aspects related to it can be easily viewed at. The concept of transparency differs from person to person, while so concentrate on the decision making process, others may look into the fact of policy making etc. Therefore it can be said that there is no universal meaning to central bank and varies from person to person and country to country. For example the transparency of central bank in India might not be same as the transparency in England besides taking into some common facts. According to some of the eminent economist, central bank should have an optimal degree of transparency mainly for the monitory policy, but on analysing the facts by few others about whether central bank should be more transparent or not, two aspects can be taken into account, one is the uncertainty and the other is information overload. If central banks becomes more transparent, it could lead to uncertainty, that is, when lots of information are provided to the public, they tend to look at the complexity of monitory policy making and the uncertainly around it which might not be as complex as it seems to be. The second is the high degree of information overload or confusion. If large amount of information is being disclosed to the public, there is a high risk of information getting overloaded or confused. Therefore analyst say central bank should have an optimal transparency. Kuttner and Posen states that when central bank becomes more transparent, there is less volatility in the exchange rate. Yet other important factors supporting central bank transparency are the fiscal and monitory policy coordination, political pressures, accountability etc. According to Faust and Sevensson, transparency can be segregated into three divisions, the least transparent where in the public does not know about the employment goals as well as the intentions, this has also been stated by Cukierman and Meltzer. In the second division, that is if central bank in highly transparent, the inflation intention can atleast be know by the public and finally in the case of extreme transparency, both the intentions as well as the employment goals can be seen. It can seen that Jensen another eminent economist has also taken up a similar structure to that of Faust and Svensson where the difference is that while Faust and Svensson focus on the future credibility effect of central bank, Jensen’s focus was on the marginal cost of inflation. Some argue that by increasing its disclosure doesn’t completely increase the transparency, to support this economist states that banks have been an opaque institution from the past itself. Greenspan says that transparency is not reached at by just simply giving quantitative disclosure; it should be both quantitative and at the same time should be relevant and meaningful. Moreover disclosure is costly, that is when central bank publishes information, it incur cost both direct and indirect. Some other economists (Eijffinger and Hoeberichts and Issing) state that central bank should transparent in such a way that the information which should be known to the public should be disclosed rather than disclosing all the information. Conclusion The dispute whether central bank should be more transparent or not is still being discussed immensely by various researchers and policymakers. Most of the economist favour central bank being transparent, as well as according to the study done, it can be understood that central bank being transparent will give a clear cut information to the public regarding the various monitory policies, its decision process as well as its goals and intentions. Moreover by central bank being transparent, it reduces the macroeconomic uncertainty like the interest rates, inflation etc, promotes financial stability and mainly helps the central bank to stand out from the various other banks that is being independent. References Petra M. Geraats, “Central Bank Transparency”, (2007). Cruijsen and Eijffinger, “Actual versus perceived central bank transparency: The case of the European central Bank,” (2007). Ursel Baumann and Erlend Nier, “Disclosure, Volatility, and Transparency: An Empirical Investigation into the Value of Bank Disclosure”, (2004). Petra M. Geraats, “Central Bank Transparency”, (2002). Joseph H. Haslag, “On Fed Watching and Central Bank Transparency,” (2001). Georgios Chortareas, David Stasavage and Gabriel Sterne, “Does it pay to be transparent? International evidence from central bank forecasts,” (2001). ICMB, “Why do Central Banks Need to Talk”, (2001). Gary Gorton and Lixin Huang, “Banking Panics and the Origin of Central Banking”, (2001). Websites http://www.blurtit.com/ http://www.answers.com/ http://papers.ssrn.com/ http://en.wikipedia.org/ Transparency in Central Banks: An Analysis
Asian female celebrities and Caucasian men, has become one of the most common interracial pairing in America. The trend is attributed to motivational and cognitive prejudice that a particular person has towards his or her counterpart. Prejudice emanates from a special preference for a particular individual due to race, nationality, social status, or sexual orientation. Such factors have soothed Asian women to prefer Caucasian men to their Asian male counterparts. On the other hand, Caucasian men prefer Asian females due to their highly rated smartness, good body physic and social interactivity. In addition, Asian females are said to be submissive in nature. Anyone who finds himself a target of the cross-cultural frustrations will definitely defend himself as pursuing his tastes rather than guided by the ethnic stereotypes. This growing trend creates an imbalance in interracial pairing and both the Asian and Caucasian men have expressed their disappointment. The Asian female and Caucasian male interracial pairing phenomenon is attributed to the motivational sources of prejudice that exist among the parties involved. This fact is clearly elaborated in the frustration and aggression, and the social identity theories. Furthermore, frustration and aggression is further categorized into the realistic group conflict theory and the scapegoat theory. The realistic group theory is manifested in the fact that Caucasian men are striking back at the modern feminism portrayed by the Caucasian females. Most Caucasian men believe that their counterparts articulate for modern feminism, whose main agenda is equal rights for women, and in the process end up discrediting the males. Initiating and sustaining of relationships with the Caucasian females becomes complex and uncomfortable forcing the Caucasian males to resort to Asian females who are more idealistic (Myers, 2010). Furthermore, the Caucasian men who cannot contain the masculine role that the Caucasian women play in relationships turn to women from other cultural backgrounds. They mainly prefer the Asian females. In this regard, Asian females obtain preference because of their supposed submissive nature attributed to the male dominance in relationships from their cultures. Notably, such characteristics promoted by tradition and culture are considered to be socially backward and lack value in the American standards. The scapegoat theory explains some of the reasons that coerce Caucasian men to prefer Asian females to the Caucasian females. Most Caucasian men with certain weaknesses in their character prefer dominance in relationship. Therefore, individuals with such personalities resort to Asian females whose culture advocates for submissiveness in a relationship. With this option, the Caucasian men can avoid the blame games that are prevalent in relationship with women who advocate for the gender role equality. Get your 100% original paper on any topic done in as little as 3 hours Learn More Asian women indeed become the ultimate alternative in which Caucasian men can exercise their aggression. No matter how the Asian females get exposed to the American society, their culture still pervades unlike other individuals from different backgrounds. This has therefore substantially contributed to the rapid increase in the Caucasian men’s’ preference to the Asian women. The social identity theories propose that individuals have social groups and categories that form an important part in their self-concept. The individual personalities portrayed by both the Caucasians and the Asians reflect the need for groups, association with the in-groups and comparison with the out-groups. Most of the young people who belong to both the Caucasian and Asian background are influenced by their counterparts to follow the same path, contributing significantly to the trend. Although numerous accusations may arise that Caucasian men are taking advantage of the Asian women, their preference is attributed by the fact that Asian women are more lady-like. On the other hand, Asian women’s preference for the Caucasian men is attributed to their need for more tolerant and socially fit men. These women quickly point out that the Asian men are restricted by their stifling culture, which forces them to opt for men who are likely to bestow them more freedom. Considering that most relationships are initiated at school levels, most Asian men are academically focused and limit themselves to the classroom work forcing the Asian women to go for Caucasian men. Despite their brilliance, they do not put much effort on learning essential skills of establishing and maintaining relationships (Gilbert, 1998). In spite of the cultural values that connect people, the Asian men feel discarded when the Asian women prefer the Caucasian men to them. Asian women have developed a notion that their men are nerdy and mostly suitable for the karate-chop actions. These ideologies are mainly promoted by the media, which tend to give more favour to the Caucasian men as representing the American standards. The beauty of men as portrayed by the media is represented in terms of characters such as being smart, athletic and social. Media due to its influence on people has greatly changed the desire for women to go for ordinary men, but opt for men who fit the American standards. Such bias favours the Caucasian men in wooing the Asian women. The confidence exhibited by the Caucasian men makes them more attractive to women. A gradual decline in the number of Asian women dating Asian men creates an imbalance since few Caucasian women go for Asian men. Asian males are disadvantaged in this regard and are generally perceived as unattractive to suit the women demands. Due to the continuous appearance of Asian women in the spotlight as representing the American beauty, the preconceptions that initially existed concerning them are now being discarded. This has influenced their preference among Caucasian men unlike the Caucasian women who are more independent. We will write a custom Essay on Motivational and Cognitive Sources of Prejudice specifically for you! Get your first paper with 15% OFF Learn More Attribution, distinctiveness and categorisation are the cognitive source of prejudice. Categorisation is prevalent and has substantive impact on the Caucasian male and Asian women interracial pairings. With the perception of the Caucasian men as being lenient, appreciative and respectful, they are more favourable to the Asian women compared to their competitors, the Asian men. The rating of the Caucasian men by the Caucasian women as appropriate suitors and partners creates a mentality among women that they are the ideal men for relationships. Most Caucasian men find Asian women suitable because of the fact that the independent Caucasian women are usually short of time, preoccupied and not passionate in relationships (Baron, 2000). In this regard, the analysed perception of the desirability of the Caucasian men and Asian women relationship creates a conception that other unions are not effective. To avoid the likely disappointments in other unions most people choose the tested patterns. Homogeneity effect plays a crucial role in the pairing of the Caucasian men and Asian females. In other words the perception held by women that all Asian men are alike creates a discrepancy in the formation of relationship. Attrition refers to the stereotypic ideologies held by people that what takes place is justifiable. For most Caucasian men, there is a notion that Asian women are ideal for them and therefore a majority of them go for these women. Asian women on the other hand view the characteristics of the Asian men as void and weak in forming stable and enjoyable relationships. Distinctiveness mentality among the Caucasian men creates attention and forms inappropriate judgement of the realistic partners that they should have. On a large extent, it has facilitated bias in the creation of ideal and appropriate relationships. Furthermore, both the Asian men and Caucasian women have also concurred the trend and expressed disappointments and pity for the parties involved. References Baron, R. A.,

Vinamilk Dairy Product Catalog And Features Marketing Essay

INTRODUCTION In recent years, dairy has become one of the fastest growing sectors in the food industry of Vietnam. Along with the common trend of developing countries, Vietnam dairy’s demand is significantly increasing as a crucial supplementary nutrition source. One of the most leading dairy companies in Vietnam, Vietnam Dairy Product Joint-stock Company (Vinamilk), has operated over 30 years and gained noticeable successes in the Vietnamese fresh milk market. Vinamilk today is considered as a Vietnamese enterprise that can deliver value to consumer successfully by understanding consumer needs, communicating and building long-term relationship between their brand and consumers. Due to Vinamik has a great variety of products, therefore, in the content of this report, it is only to expose the marketing strategy, especially the Marketing mix (4Ps) of Vinamilk with their flagship products, drinking fresh milk. Company profile: Vietnam Dairy Product Joint-stock Company (Vinamilk) was found in 1976 and is a manufacturer and trading of milk and dairy products as well as related equipment in Vietnam. According to the UN Development Program, it is the 15th largest company in Vietnam in 2007. http://www.vinamilk.com.vn/web/Vinamilk/uploads/UploadEditor/UserFiles/Image/Aboutus/VINAMILK.jpg Official logo of Vinamilk 2012 2.0 MARKETING MIX – 4Ps of Vinamilk Fresh milk and Deliver value 4PS model is the classical model of marketing. This is the foundation of most of the solutions, strategies, assessment analysis (marketing audit) for an existing marketing strategy. Marketing mix is also considered as a method of decision-making in relation to the product, place, price and promotion in the design process of a product or a brand. This method is based on the principle of 4PS: Product: The product/Service policy Price: The price policy Place: The distribution/Sales policy Promotion: Advertising, Communication policy, advertising In this part, the Marketing policy of Vinamilk will be exposed to consider how the company can deliver value to its consumers through 4Ps model. 2.1 PRODUCT 2.1.1 Vinamilk dairy product catalog and features Vinamilk milk products line includes many products with many flavors and packaging sizes for consumers to choose from including chocolate / added sugar, strawberry or High-calcium or Low-fat, etc. (Table 2.1: line milk products Vinamilk). Fresh milk product line Description UHT DIARY 100% (no sugar) http://www.vinamilk.com.vn/web/Vinamilk/uploads/UploadEditor/UserFiles/Image/NAM 2012/product/sua tuoi/suatuoikoduong_new.jpg UHT DIARY 100% (no sugar) made from 100% fresh milk, Vinamilk Fresh milk contains essential nutrients and the purest of nature, gives you an abundant life to fully enjoy a beautiful life. Packing: Carton 1L, 180ml paper box. UHT DIARY 100% (added sugar) http://www.vinamilk.com.vn/web/Vinamilk/uploads/UploadEditor/UserFiles/Image/NAM 2012/product/sua tuoi/suatuoicoduong_new.jpg UHT DIARY 100% (added sugar) Made from 100% fresh milk, Vinamilk Fresh milk contains essential nutrients and the purest of nature, gives you an abundant life to fully enjoy a beautiful life. Packing: Carton 1L, 110ml and 180ml paper box UHT DIARY 100% (Strawberry/ favor) http://www.vinamilk.com.vn/web/Vinamilk/uploads/UploadEditor/UserFiles/Image/NAM 2012/product/sua tuoi/suatuoidau_new.jpg http://www.vinamilk.com.vn/web/Vinamilk/uploads/UploadEditor/UserFiles/Image/Product/Suatuoi_Chocolate.jpg UHT DIARY 100% (Strawberry favor) Natural perfect body you need to be nourished with 100% natural source of nutrients to maintain the beauty and well-being every day. Vinamilk Perfume Fresh Strawberry/ Chocolate milk is made ​​from 100% pure fresh milk with nutrient blend with the most delicious natural strawberry/ Chocolate flavor sweet, add great choice for your perfect body. Packing: Paper box 180ml and 110ml. FRESH ADD VINAMILK 100% (no sugar) http://www.vinamilk.com.vn/web/Vinamilk/uploads/UploadEditor/UserFiles/Image/NAM 2012/product/sua tuoi/suathanhtrungkoduong_new.jpg FRESH ADD VINAMILK 100% (no sugar) Pasteurized milk Vinamilk 100% is a combination of materials from fresh cow milk and advanced handling technology pasteurizing Unsweetened, high-calcium and low-fat UHT MILK FLEX (Ultra High Temperature) http://www.vinamilk.com.vn/web/Vinamilk/uploads/UploadEditor/UserFiles/Image/17-04-08/suatuoi/flex-ko-duong.jpg Get-up-and-go with UHT Milk Flex! A high-calcium and low-fat milk, Flex is the ideal source of nutrients to help you keep in shape, healthy, active and energetic. Packing method: Carton pack 1liter, 180ml and 110ml. VINAMILK UNSWEETENED/SWEETENED UHT MILK(Ultra High Temperature) http://www.vinamilk.com.vn/web/Vinamilk/uploads/UploadEditor/UserFiles/Image/Product/sua ruoi soypro/xanhdamkoduong.jpghttp://www.vinamilk.com.vn/web/Vinamilk/uploads/UploadEditor/UserFiles/Image/Product/sua ruoi soypro/xanhladamcoduong.jpg Vinamilk UHT Milk (in bag) is not only the essential source of nutrients but also economical, helping you and your family enjoy life to its entirety Packing method: Bag Fino 220ml and 200ml VINAMILK UHT MILK WITH STRAWBERRY/CHOCOLATE FLAVOR http://www.vinamilk.com.vn/web/Vinamilk/uploads/UploadEditor/UserFiles/Image/Product/sua ruoi soypro/dau-dam.jpghttp://www.vinamilk.com.vn/web/Vinamilk/uploads/UploadEditor/UserFiles/Image/Product/sua ruoi soypro/socoladam.jpg Vinamilk UHT Milk (in bag) not only provides the essential source of nutrients but is also economical, helping you and your family enjoy life to its entirety Packing method: Bag Fino 220ml and 200ml. UHT MILK MILKKID: VINAMILK SWEETENED/UNSWEETENED UHT MILK http://www.vinamilk.com.vn/web/Vinamilk/uploads/UploadEditor/UserFiles/Image/thang 0710/milkkids.jpghttp://www.vinamilk.com.vn/web/Vinamilk/uploads/UploadEditor/UserFiles/Image/thang 0710/milkkidb.jpg UHT Milk for Kid is produced from fresh cow milk, rich in calcium and minerals Packing method: Carton pack 110ml AND 180ml VNM FORTIFIED UHT MILK http://www.vinamilk.com.vn/web/Vinamilk/uploads/UploadEditor/UserFiles/Image/NAM 2012/product/suatuoicoduong_new_01.jpg VNM FORTIFIED UHT MILK Vinamilk additional micronutrients new advanced formula ADM has been studied and developed in accordance with the state of the Vietnamese, which is nutrient supplements of calcium, vitamin A, vitamin D3, Magnesium, Manganese and Zinc helps develop dimensional and enhanced vision. Packing: 180ml and 110ml VNM FORTIFIED UHT MILK( strawberry/ chocolate favor) http://vinamilk.com.vn/web/Vinamilk/uploads/UploadEditor/UserFiles/Image/NAM 2012/product/Suatuoi_Socola_new_01.jpg http://vinamilk.com.vn/web/Vinamilk/uploads/UploadEditor/UserFiles/Image/NAM 2012/product/Suatuoi_Dau_new_01.jpg VNM FORTIFIED UHT MILK Vinamilk additional micronutrients new advanced formula ADM has been studied and developed in accordance with the state of the Vietnamese Packing: 180ml and 110ml Table 2.1.1: Product lines of Vinamilk Fresh milk 2.1.2 Quality To meet the increasing demands of consumers, Vinamilk has constantly renewed technology, improved product quality management. In 1999, Vinamilk successfully applied the quality management system according to international standards ISO 9002; and currently the company has applied the quality management system ISO 9001-2000. This application has shortened the quality distance between imported and domestic milk, increased the confidence and prestige of Vinamilk in competitive market. 2.1.4 Brand name: According to Vinamilk’s annual report 2010, the company is the first and the only company in Vietnam presents in the list of “200 best enterprises in Asia Pacific in 2010” voted by Forbes magazine. 2.1.5 Research and development: Customer demand always changes, hence the function of a marketing strategy manager is to research and find out the changes as well as renew their products to catch up with the new trends. In recent years, Vinamilk has launched some new Fresh milk products that are considered effective and highly profitable in which must include Vinamilk 100% Pasteurized Milk can satisfy the requirement of the most difficult and wise consumers. Vinamilk has invested in modern technological system is called Pasteurization technology. Vinamilk 100% Pasteurized Milk has been specially processed with advanced Pasteurization technology. Bacteria and spores are removed from milk by using the world class Bactofuge – “Bacteria Removing Centrifuges” – then the milk is pasteurized and immediately cooled down at 4 °C, thus keeping the best nutritional elements such as vitamins and minerals from pure cow milk. Vinamilk is the first dairy company in Vietnam applied this advanced technology in production world. Deliver value: In general, Vinamilk has successful product strategies based on actual consumer needs, so that these strategies have effects immediately. Vinamilk Fresh milk has variety of product lines with many flavors and size; it is suitable for many age group and easy for consumer to choose. The huge investment costs for researching new technology and advertising to introduce new products also creates advantages for providing information to consumers. Besides, Vinamilk has paid attention to product quality to create the trust with consumers. Vinamilk packaging is simple but nice and meaningful also attract the attention of numerous consumers. 2.2 PROMOTION 2.2.1 Advertising: In the promotion strategy, advertising is considered as a strategic policy to achieve or maintain a competitive advantage in the market. In order to send their products to the majority of consumers, Vinamilk has used all means of advertising such as broadcast media, newspapers, outdoor advertising, etc. As for the advertising request, Vinamilk has almost fully met the strict requirements that an advertising message needs to achieve. Vinamilk has built successfully the dairy cow pictures that are very cute and healthy in their advertising along with the meaningful slogan has struck on consumer psychology e11df399f146ba2f47aaf6112f7cc000.jpg Image of Vinamilk in the marketing strategy 2011 Vinamilk has built successfully the dairy cow pictures that are very cute and healthy in their advertising along with the meaningful slogan has struck on consumer psychology (Appendix 1). As a company specializing in manufacturing dairy products which supplies mainly from cow’s milk, so the image of the cows are considered typical image, the core of each clip ads of Vinamilk products. The cow image appears in each clip of vinamilk they are always singing, dancing, and exciting, funny, unique has left a memorable impression in the audience quang-cao-vietnam-vinamilk.jpg Image of cows are dancing in marketing strategy of Vinamilk 2011 Through these ads, Vinamilk has sent the meaningful message to consumers. Dairy products are the result of labor of Vietnamese farmers, hardworking, gentle with happy and healthy cows; represents a fresh strong physical, thereby bringing fun, happiness to consumers; and that is deliver value of products, “A truly beautiful life” as the slogan has provided. 2.2.2 Public Relation: Vinamilk has many successful community activities such as: Vinamilk scholarship fund for Vietnamese young talents: This is one the programs that Vinamilk devotes its great dedications. During 7 consecutive years, Vinamilk has funded over 650,000 USD with total 25,040 scholarship nationwide (Vinamilk Annual report 2010). Aesenal – Vinamilk Soccer School: offers different class for children from 5 to 18 ages that will be trained by well-known coaches who are instructed by Arsenal’s professions in UK. This soccer center is currently receiving many attentions and supports from children’s parents; and today reaches over 2,000 trainees. Milk fund for poor children in Vietnam: In 2009, the fund of “Six Million Glasses of Milk for Children in Vietnam” with the cooperation between Vinamilk and the Ministry of Labor, War Invalids and Social Affairs, National Fund for Vietnamese children, National Institute of Nutrion and Ministry of Education and Training. Through this program, there were over 6 mill glasses of milk, equivalent to 1.25 million USD brought to nearly 50,000 children in 62 provinces across the country. Deliver value: With many communication strategies to contribute and benefit to society that have been well received and enthusiasm by consumers that makes Vinamilk brand more friendly to consumers apart of production and sales activities. This also contributes to building the beautiful image of Vinamilk to consumers. 2.3 PRICE: Evaluating briefly the fresh milk market situation in Vietnam, the supply source is lacking while fresh milk is the indispensable demand for citizen.. Therefore, the low price is not the strategy which the company is pursuing. Some pricing strategies which Vinamilk is performing include: 2.3.1 High quality is accompanied by high price Vinamilk always improves the quality of their fresh milk products with more and more nutrition value than their previous ranges. In the mind of consumers, the high quality of products interprets the reasons why the price of Vinamilk’s fresh milk is increasing more and more. Once Vinamilk decreases the price, they will lose the illustrious quality in customers’ awareness. 2.3.2 Keep the price but higher quality Once fresh milk quality of other competitors is evaluated lower than Vinamilk’s, the fact of stable price will attract and satisfy consumers’ demand. Although the world price of raw milk is decreasing, but from the beginning of July, 2008 till now many dairy companies that dominant market share in Vietnam market have increased their prices from 7-15%. In this increase of price, only two firms are Nutrifood and Vinamilk still keep remaining their prices (Saigon Marketing, No.209, 2010). 2.3.3 Purchase price policy of raw fresh milk Vinamilk is pursuing the policy: Towards the rural area where there are many grasses with good breeding, no urbanization but far transport, they will purchase raw fresh milk in low price to balance the cost of other ranges. Furthermore, they always adjust price according to seasonal nature and external market. They also has built a great size of farm to decrease the burden in purchasing input. Deliver value: With reasonable price policy, Vinamilk has created competitive advantage towards other competitors as well as satisfy the needs of major consumers. They have maintained the high pricing strategy to gain the high quality of products in the awareness of customers. As a result, a great number of customers have accepted these prices to exchange the belief of high quality. 2.4 PLACE/DISTRIBUTION: Currently Vinamilk has two distribution channels to deliver products to consumers: Distribution through traditional channels (includes 220 independent distributors and over 140,000 retail outlets) distributing more than 80% of the company’s products. To support its distribution network, the company has opened 14 showrooms in the big cities like Hanoi, Danang, Ho Chi Minh and Can Tho, etc. Distribution through modern channels (such as supermarket, Metro, etc): The advantage of the company is having a wide and strong distribution network, through the dairy factories invested in many places spread throughout the country; with 1,400 level-one agents as well distribution network spread across the country with 5,000 agents and 140,000 retailers and the other direct distribution channels such as schools, hospitals, supermarket, etc.. In order to effectively manage the distribution channels, Vinamilk has been using the modern information technology applications such as Oracle E Business Suite 11i; Enterprise Resource Planning (ERP) and Customer Relationship Management – SAP, etc. Deliver value: The above applications are powerful tools for supporting staff in their work, allowing Vinamilk distribution network across the country to connect with the central information in both online and offline situations. The focused information will help the company to make timely as well accurate support planning. The collection and management of sales information of the agents is to respond timely and provide to customers satisfaction at higher levels. 3.0 CONCLUSION With the right marketing strategy, fresh milk scope of Vinamilk has created a large market share in the Vietnamese market to provide value to its customers as well as giving the company a competitive advantage for other competitors. This shows the effectiveness and importance of the marketing mix strategy in the current business situation for one of the big companies like Vinamilk. In particular, products and promotions are focused to confirm the credibility and value of the company would like to offer to their consumers. Although, Vinamilk is successful with their strategy, but in the long term, while the dairy market is very complex in Vietnam today, the change of strategy is needed. Vinamilk adjust marketing strategies better suit customer loyalty and maintain prices, more improvement to achieve the highest advantage.

Florida State College at Jacksonville Spanish Missions in Florida Discussion

java assignment help Florida State College at Jacksonville Spanish Missions in Florida Discussion.

For this assignment you will write a 1 page (300 word minimum-450 word maximum) research paper. In this assignment you will be answering a question about the Spanish Missions in Florida.Question:By 1705 the Spanish mission era came to an end. There are several factors for the demise of the Spanish missions in the Florida’s. What do you believe was the number one reason for the demise of the mission era in Florida? Be specific in your argument and focus on only one reason for the demise of the mission era.Defend your views by citing information from primary academic or government sources. Provide at least one reference, cited and referenced in MLA Style format.The style of writing should be Persuasive.Persuasion: Persuasion is where you take a position on a topic and then try to persuade the reader to come to the same conclusion you arrived at. Here it is important to write a very clear thesis statement and then provide evidence that supports your argument.* A clearly written thesis statement. * Address some historical inaccuracies.
Florida State College at Jacksonville Spanish Missions in Florida Discussion

Kipp Houston Public Schools – Case

Kipp Houston Public Schools – Case.

Read KIPP Houston Public Schools, Case 9, pages C-97 through C-111.For this case analysis, you should prepare a written analysis of 3 to 5 pages that uses the text and other credible sources as appropriate. Your paper should have 1″ margins, be double spaced, and use APA formats fortopic and subtopic headingscitationsreferencesYour case must minimally address the following issues / questions:Summarize the organizational strengths and core competencies which distinguish KIPP Houston from its competitors. Does the new regional structure advance or interfere with the goals of the organization?What are the weaknesses of KIPP Houston’s internal operations? Compare the organization’s performance to the achievements of its competitors. What steps have been taken to manage its problem areas?Describe the factors in the external environment which affect the charter organization’s ability to meet its objectives. Discuss KIPP Houston’s current expansion goals.Describe and consider Ali’s strategic posture on the major issues facing KIPP Houston. Based on your analysis, do you agree with her judgment? What additional recommendations can you make to guide the organization’s strategy and actions?This is an individual assignment. It is due no later than 11:59 PM CT Sunday.RubricKipp Houston Public SchoolsKipp Houston Public SchoolsCriteriaRatingsPtsThis criterion is linked to a Learning OutcomeAnalysis of internal strengths and core competencies6.0 ptsSuperior: Exceeds expectations and thoughtfully assesses the potential impact of the expanding regional structure.5.0 ptsProficient: Analysis thoroughly describes the relevant strengths and core competencies which distinguish KIPP Houston from its competitors.4.0 ptsCompetent: Analysis includes significant strengths and core competencies which distinguish KIPP Houston from its competitors.2.0 ptsNeeds Improvement: Analysis excludes some of the relevant strengths and core competencies which distinguish KIPP Houston from its competitors.6.0 ptsThis criterion is linked to a Learning OutcomeAnalysis of internal weaknesses6.0 ptsExceeds expectations, fully exploring and recognizing competitor achievements which impact KIPP’s success in the marketplace.5.0 ptsAnalysis thoroughly describes KIPP Houston’s internal weaknesses and demonstrates a full understanding of the steps being taken to overcome them.4.0 ptsAnalysis includes significant weaknesses of KIPP Houston’s internal operations and the steps being taken to manage these weaknesses.2.0 ptsAnalysis excludes some of the weaknesses of KIPP Houston’s internal operations and/or the steps being taken to manage these weaknesses.6.0 ptsThis criterion is linked to a Learning OutcomeAnalysis of external environmental conditions6.0 ptsExceeds expectations and provides an outstanding critique of the organization’s current expansion goals.5.0 ptsAnalysis fully and accurately describes the external factors which affect the organization’s ability to meet its objectives.4.0 ptsAnalysis describes external factors which affect the organization’s ability to meet its objectives.2.0 ptsAnalysis fails to describe some of the external factors which affect the organization’s ability to meet its objectives6.0 ptsThis criterion is linked to a Learning OutcomeStrategic intent and recommendations7.0 ptsExceeds expectations and offers extraordinary suggestions to guide the organization’s strategy and actions.6.0 ptsResponse fully considers Ali’s strategic posture on major issues facing KIPP Houston, citing her experience, training, and body of results to credit her judgment.5.0 ptsResponse considers Ali’s strategic posture on major issues facing KIPP Houston.3.0 ptsResponse does not fully consider Ali’s strategic posture on major issues facing KIPP Houston.7.0 ptsThis criterion is linked to a Learning OutcomeGrammar, Writing, APA Format5.0 ptsInformation is appropriately sequenced with topical headings and subheadings. Language use, grammar, spelling, and punctuation are at an appropriate graduate level, with no errors. Uses paragraph form with topical sentences that are supported by the remainder of the paragraph, and effective transitions. Writing is clear, concise, and in correct voice and tense. Correct application of APA format. NO errors in citations and references.4.0 ptsInformation is appropriately sequenced with topical headings. Language use, grammar, spelling, and punctuation are at an appropriate graduate level. Uses paragraph form with topical sentences that are supported by the remainder of the paragraph. Writing is clear and concise. Somewhat correct application of APA format. Two to three errors in citations and references.3.0 ptsThere is some order to the information with some heading usage. Presentation has two to four misspellings or grammar errors, or two or three word use errors. Uses paragraph form but sentences within the paragraph may not be related. Somewhat correct application of APA format. Four to six errors in citations and references.1.0 ptsLimited structure or no topical headings used. Presentation has more than four misspellings or grammar errors, or more than four word use errors. Language use makes it difficult to understand the intended meaning. Incorrect application of APA format. Several errors in or missing citations and references.5.0 ptsTotal Points: 30.0
Kipp Houston Public Schools – Case

OL 125 BU Management Attitude & Personal Values in Work Environment Discussion

OL 125 BU Management Attitude & Personal Values in Work Environment Discussion.

after reading the PPT below. Please complete the following self-assessment exercises in the chapter titled “Attitudes, self-concept, values, and ethics”Your management AttitudesYour Job AttitudeYour personal ValuesHow Ethical is your Behavior?Provide a short summary of your results and organize these responses accordingly into the above sections. Make sure in your analysis for each to reflect on what you had anticipated, what you learned, and what you personally want to change?Conclude your analysis with connections that you see between the four assessments and how your results in one reflect behavior in another. This submission should be 2 pages (double-spaced). I encourage you to use scholarly sources to support any of your assertions.
OL 125 BU Management Attitude & Personal Values in Work Environment Discussion