Types of Credit Facilities Offered by Commercial Banks

Types of Credit Facilities Offered by Commercial Banks The commercial banks are the most important player in the banking system. As at the end of December 2010, there were 9 domestic and 14 locally incorporated foreign commercial banks (BNM, 2011). Below is the list of licensed commercial banks as at 31 December 2010:- Commercial banks (Locally owed) Affin Bank Berhad Alliance Bank Malaysia Berhad AmBank (M) Berhad CIMB Bank Berhad EON Bank Berhad Hong Leong Bank Berhad Malayan Banking Berhad Public Bank Berhad RHB Bank Berhad Commercial banks (Foreign owed) Bangkok Bank Berhad Bank of America Malaysia Berhad Bank of China (Malaysia) Berhad Bank of Tokyo-Mitsubishi UFJ (Malaysia) Berhad Citibank Berhad Deutsche Bank (Malaysia) Berhad HSBC Bank Malaysia Berhad Industrial and Commercial Bank of China (Malaysia) Berhad J.P. Morgan Chase Bank Berhad OCBC Bank (Malaysia) Berhad Stardard Chartered Bank Malaysia Berhad The Bank of Nova Scotia Berhad The Royal Bank of Scotland Berhad United Overseas Bank (Malaysia) Bhd. Commercial banks offer various types of credit facilities to SMEs. There are working capital loans, fixed assets facilities and trade financing facilities. Besides that, Credit Guarantee Corporation (M) Scheme also offered by participating commercial banks. Credit Guarantee Corporation was established with the purpose to help Small and Medium Scale Enterprises (SMEs) without or with insufficient collateral to obtain credit facilities by commercial banks (Telekom Malaysia Berhad, 2010). CGC is participating with commercial banks which include Malayan Banking Berhad, RHB Bank Berhad, AmBank Berhad, CIMB Bank Berhad, EON Bank Berhad, Affin Bank Berhad and OCBC Bank Berhad (Business Loan for SME, 2011). Working capital loans is available to finance the shortfall in working capital requirement such as bank overdraft and revolving credit. (Eddie, 2006) Overdraft facility is convenience SMEs to draw additional funds immediately from current account (Eddie, 2006). Besides, the facilities fast in raising capital to operation for business and making investment. Bank overdraft has no fixed repayment schedule, interest will charged when the funds are utilised and no commitment fee for individual applicants on overdraft amounts of RM250,000 and below (Public Bank Berhad, 2011). Revolving credit is a working capital facility normally helpful as short term working capital funding. Borrowers can decide to either repay the full amount or renew the loan tenure by servicing of the interest at the end of the loan period. For SMEs borrower, commercial banks allow the flexibility of drawing funds as and when required, the repayment period is over 1 to 6 months term. A part that, SMEs can choose to repay in full upon maturity or to pay only the interest but the minimum amount of RM100,000 (Public Bank Berhad, 2011). Table 2.1 Asset conversion cycle Days Debtors credit terms 90 Inventory turnover 60 150 Less: Creditors credit terms 60 Asset conversion cycle 90 If the forecasted sales turnover is RM5 million, then the Working Capital Requirement will be 90/365 x RM5.0 million = RM1.23 million For the purpose of fixed assets financing is to finance property, plant and equipment acquisition and also cost of construction for factory and shop house. Term loan, leasing and hire purchase are the credit facilities types of the capital expenditure financing (Public Bank Berhad, 2011). A term loan is a fixed amount of loan from a bank for a period of time and repaid according to specific repayment schedule. The borrowers must be able to manage the cash flow effectively for repayment the loan (Public Bank Berhad, 2011). Trade financing helps to control the companies trade transactions and international business community. There are two group of trade financing which are local purchases or sales, import or export services. For local purchases and import services, Public Bank Berhad providing the number of credit facilities which are letter of credit, trust receipt, bankers acceptance and bankers guarantee. For local sales and export services offering bankers acceptance, bankers guarantee, bills of exchanged purchased and export credit refinancing (Public Bank Berhad, 2011). Credit Guarantee Corporation (M) Scheme includes Credit Enhancer Scheme and Direct Access Guarantee Scheme. Credit Enhancer Scheme eligibility must be Malaysian owned, borrower must have favourable financial record and business enterprises based on the definition of SMEs. Type of facilities offered by Credit Enhancer Scheme is term loan, Overdraft and all type of trade facilities. Total loan amount up to RM10 million. Guarantee cover has 2 portions which is secured and unsecured. The BLR rate is 6.3% (RHB Banking Group, 2011). Maximum interest rate for each guarantee cover percentage bond for Credit Enhancer Scheme as follows: CGC Guarantee Cover Effective Rate 100% BLR 80% 100% BLR + 1.00% 70% 80% BLR + 1.25% 60% 70% BLR +1.75% 50% 60% BLR + 2.00% à ¢Ã¢â‚¬ °Ã‚ ¤ 50% Free to quote Table 1: Interest rate according guarantee cover percentage According to past researcher Daniel Dusanjh, Direct Access Guarantee Scheme can be obtained in CIMB, Maybank and Ambank. Credit facility is range from RM50,000 to 3 million. The interest rates for DAGS ranges from 1.00% to 1.75% + BLR. Past researcher Daniel (2009) said that CIMB Bank offers credit facility under Government Assistance Scheme which is Fund for Small and Medium Industries and . In addition, CIMB Bank also provides Small Entrepreneur Guarantee Scheme. Fund for Small and Medium Industries 2 and New Entrepreneurs Fund 2 eligibility criteria include business enterprises based on definition of SMEs, shareholder fund could not more than RM2 million, public listed and government link companies shareholding not more than 20%. In addition, the Malaysian resident shareholding must at least 51% and the SMEs not exceeding 7 years in operation if more than 7 years in operation banks will consider provided average net profit over the last 3 years. The interest rate for FSMI 2 is 4% to 6% based in risk assessment of SMEs. Credit facility is range from RM50,000 to RM5million. Credit facility could be term loan and overdraft and maximum term of 5 years (CIMB Bank Berhad, 2011). Small Entrepreneur Guarantee Scheme offers much different terms, maximum loan amount is RM50,000 with an interest rate of 1.5% per annum + BLR. It should be noted that this scheme covers much micro businesses (CIMB Bank Berhad, 2011). 2.1.2 Singapore Commercial banks in Singapore offer various types of credit facilities to small and medium sized enterprises, including working capital financing, fixed assets financing, specialized financing, trade financing and government assistance scheme. Working capital financing is vital for the growing business. The purpose is to finance the everyday business operations. A number of general types include factoring loans that give credit for account receivables, overdrafts facility utilized when business make payment exceeding the balance in current account, and revolving loans that the loan amount can be re-borrowed (Government of Singapore, 2009). Factoring loan is an account receivables sold to bank for immediate cash. A charge of 1-3% levied on gross invoice value or an interest of 5-8% per annum. Most of commercial banks in Singapore have this type of loan such as DBS Bank Ltd, HSBC Private Bank (Suisse) SA and Malayan Banking Berhad (Government of Singapore, 2009). Bank overdraft is the cash ready for any business need and also means that withdraw from bank exceed the available balance. Interest charge for bank overdrafts are normally 1-2% above prime rates. Most of commercial banks in Singapore have this type of loan such as DBS Bank Ltd, HSBC Private Bank (Suisse) SA, Malayan Banking Berhad, Standard Chartered Bank and United Overseas Bank Limited (Government of Singapore, 2009). Revolving credit is loan sum available for fixed period during which amounts repaid may be re-borrowed. For revolving credit, company assets such as machinery may have to be provided as collateral. . Most of commercial banks in Singapore have this type of loan such as DBS Bank Ltd, HSBC Private Bank (Suisse) SA, Malayan Banking Berhad, Standard Chartered Bank and United Overseas Bank Limited (Government of Singapore, 2009). For fixed asset financing, commercial banks offer commercial, industrial and property loans. Like hire purchase is the most common loans for fixed asset financing, the purpose is to finance the business property, machinery and motor vehicles. During the settlement of hire purchase loans, banks will hold the legal rights over the asset until fully repaid. The commercial banks can finance up to 90% of equipment price (Standard Chartered Bank, 2011). Specialized financing is the loans are aimed for sector specific SMEs such as shipping, real estate or dealership. Maybank provide the loans of car dealership and vessel (Maybank, 2011). Another way, OCBC Bank offer shipping, real estate and commercial property loans. In Singapore, government assistance scheme separate to 2 groups which are local enterprises financial scheme and internationalization finance scheme. Local enterprises financial scheme is typically granted for modernization and upgrading the plant and equipment, expanding the manufacturing capacity. Working capital loans facilities and fixed assets financing loans facilities are available under local enterprises financial scheme. Working capital loans include Micro Loan Program and Loan Insurance Scheme. For the Micro Loan Program, maximum loan amount up to S$100,000. This type of loan is unsecured term loan and the loan term is from 1 to 4 years. The minimum of interest rate is 5.5% per annum. Eligibility of this type of loan with no more than 10 employees and the SME must incorporated in Singapore with no less than 30% shareholding (OCBC Bank, 2011). Loan insurance scheme offers an option access to funding for local enterprises through the use of loan insurance (UOB Bank, 2011). This type of scheme do not have limit amount but the insurer has veto right over S$1 million. Now, the government would focus in improving loan insurance schemes to assist small and medium enterprises (Ryan, 2011). In Malaysia, there are several procedures and condition needed for SMEs in obtaining loan. The loan application process generally has three broad stages. These are business plan preparation, the submission of the loan application and the assessment of the loan application (Banking Info, 2011). First stage is preparing the business plan, commercial banks will require information regarding the company before they make decision whether to grant a loan to it. It is essential to provide the full and complete information on the company, the reason is to ensure the loan processing complete smoothly. For a small and medium enterprise, the preparation of a business plan is significant. Business plan is outlining the vision and how the companies manage to achieve the objective. In the business plan, the written must be simple and clear (Banking Info, 2011). Second stage is the application process, to accelerate the application process, applicant should send a suitably completed loan application form together with the business plan and all appropriate documents as required by the commercial banks. Loan application forms and loan application checklists are different in each commercial bank. Although the application forms and checklists are different but required document more or less the same for verification and evaluation (Banking Info, 2011). According to Chuah Mei Lin, there are two checklists provided by commercial for SMEs applicant. The first checklist written down the general types of documents and data required and second checklist setting out the more specific documents or information required for the kind of application facilities. She said that the banks will ask for additional information and documents if get insufficient data (SME Corp, 2010). The following is the documents required for the loan application:- Statutory Documents for Corporation Memorandum and articles of association Certificate of incorporation (Form 9) Return of allotment of shares (Form 24) Register of directors (Form 49) Copies of directors or guarantors IC Form J of directors or guarantors Documents for Partnership and Sole Proprietorship Business registration and license Income tax return Form J of partner or proprietor Financial and Management Documents 3 years audited financial statements (certified by auditors for non corporations) 6 months current account statement provided by other financial institutions All borrowings disclosure and letter offer by other financial statements Loan repayment statement utilisation from other financial institutions Business and cash flow projection Major customers and suppliers list Receivables and Creditors Aging Most up-to-date management accounts Feasibility report (for project financing and new ventures) Company and directors profile, business plan Apart on above documents provided, small and medium enterprises also require prepare the security documents such as valuation report, photocopy of sale and purchase agreement and relevant collateral such as land title deed. Other relevant documents such as invoices and commercial document, documents to prove other source of income also need to submit to commercial banks (Banking Info, 2011). Commercial banks could perform interviews and carry out a site visit to business premises for the intention of understands the business and clarification. This is to facilitate the commercial banks to verify and measure companys financial position (Banking Info, 2011). The last stage is assessment of the loan application. Commercial banks will access the credit application after the borrower submission all the documents required. For assessment the loan application, commercial banks would view for certain basic requirements, for example the business viability, capacity to make repayment for loan application, whether the loan application is for business development, and credit history with commercial banks and to assess whether the risks are acceptable. Besides, commercial banks will also assess for the businesss credit risks that are called 5Cs, character, capital, capacity, conditions and collateral. Commercial banks will analysis 5Cs to decide approval or rejected the loans (Banking Info, 2011). According to Chuah Mei Lin, commercial bank will use 14 to 30 days to process the application depend on the size of the loans. If commercial bank approves the loan application, they will issue a letter offer to the applicant within three working days (SME Corp, 2010). A letter offer will state the term and conditions. The borrower should understand all the term and condition write down in letter of offer. The common term and condition include periods for repayment and payment in default, submission of financial statements, while the company change the nature of the business and the requirement of the borrower After the loan approved, the borrowers can utilised it within 5 working days. If decline offer, the companies can appeal against facilities (Banking Info, 2011). 2.3 PROBLEM FACED BY SMALL AND MEDIUM ENTERPRISES IN OBTAINING LOAN SMEs have difficulty in obtaining credit facilities from commercial banks when compared to large industries during crisis period even in normal period. The main reason always is low profitability earn by commercial banks. Almost all commercial bankers in the world will interest in the profitability business. Since loaning is the principle activity of a banks and it is its responsibility to make sure that all monies lent out are collectible. As such, commercial banks make sure that the creditworthiness of borrower will repaid the loan through assessing the information provided by applicants. (Anna, 2008) During global economic crisis, loans will be difficult to obtain especially risky loans will become increasingly strict (Factoring Financing Articles, 2011). This is bad news for SMEs since they form the riskiest borrowers. Due to the loan condition of commercial banks too strict, SMEs faced the problem in obtaining loan (Hongbo and Xiaojie , 2009). Insufficient collateral and social guarantee system In Malaysia, some small and medium enterprises do not qualify to obtain credit facility from commercial banks. Such as lack of collateral which is the big issue in obtaining credit facilities from commercial banks. The low value of outdated equipment is difficult to collateral as the credit facilities. (Kian Seong, 2010). Collateral is essential because it decrease the credit risks of commercial banks. In Singapore, Gabriel (2009) said that small and medium enterprises are facing problem in securing essential loans. For unprecedented crisis facing by SMEs, the government assistance schemes still do not far enough and not suitable. But the real problem is the commercial banks unwilling to lend the loan under government scheme because they reluctant pay the cash first. Although the government willing bear 50 to 80 percent of risks but the government guarantee portion is difficult to claw back. But if the borrower cannot pay up, the government agreed to bear the risk for the portion of loans. Most of the SMEs companies need working capital financing that is cash overdraft. For working capital loans, government assistance scheme usually do not seem to provide. In China, when SMEs applying loan who face strict condition for mortgage (Hongbo Duan, Xiaojie Han Hongbo Yang, 2009). Customers asset mortgage as the basis of the commercial banks decided whether to approve the loan application. It means that SMEs insufficient collateral assets, and cannot be effectively secured. Most of SMEs do not meet up the conditions of the collateral assets. SMEs always have lack of plant and equipment for collateral through the view of enterprise asset structure. For the moment of the loan application, the equipments are outdated, the collateral value of which is relatively low (Jiantuo, 2007). Another problem faced by SMEs is the enterprises property legal rights, it is because a huge number of SMEs is having the joint cooperation. This joint cooperation will lead to the ownership of property, plant and equipment and other real estate property not apparent. Therefore, the fixed assets do not used as loan mortgage. Simultaneously, due to the high cost and complicated process of mortgage register, the SME get that guarantee from mortgage will much more difficult (Xiao Li, 2003). To carry out the protection act, SME loan guarantee must refers to the method of assurances of the debt agreement. The warrants credit is increased when all the way through utilize of third-party credit with reward. At that moment, both sites credit can turn to a balance and the capital achieves to a proper scale (Xiao Li, 2005). Even if local governments put more and more efforts to develop credit guarantee institutions for SMEs, they are still facing many problems. SME credit warranty institutions help out the small and medium enterprise to get multi-funding for capital collection. But too small of the capital scale warranty institutions also cannot assist more in SME financing. In most areas of SME warranty funding is governmental financial funding. Although the government put effort to help out SMEs but it is still far from their needs for warranty funding. SMEs still seek for other credit financial support. Simultaneously, issue small loan and bear higher cost in financing also the problem faced by small warranty funding institutions (Xiao Li, 2005). Commercial banks will not simply recognize the information prepared by warranty institutions. Because of the existing tax revenue, bank management system and information service centre cannot obtain a full business and personal records (Howrey 2011). So, bank has to face more risks in lending loan to SMEs. Interest rates and processing costs In Malaysia, raise in interest rate is one of the problems faced by SMEs. SMEs cannot bear those high interest rates. While commercial banks willing to gain high profits, small and medium sized enterprises will be hard to negotiate low interest rates with them. Commercial banks are rejecting the application of small loans due to high supervision and monitoring costs. Commercial banks judge the SMEs as riskiest borrower because of their insufficient assets to fulfill requirement, low capitalization and high mortality rates. For this situation, to raise the fixed and working capital from commercial banks is harder. According to Fazlur (2011), SME face difficulties because of the bank reluctance provide loans to them. Many banks are unwilling issue loans to them because of high processing costs and monitoring costs. In addition, interest rates for SME loans are high due to the high processing costs. But CEO of Unique Trust, Capt rtd Prince Kofi Amoabeng said that they must express disapproval the government to take some decisions to force interest rates down, because low interest rates will lead to the banks stop loan to the SME sector so SME is going to suffer. Therefore, they all have to go to the non-bank financial institutions where they would be given the loans at even higher interest rates (Fidel Amoah, 2011). Poor documentation and management Malaysian SMEs are always regarded as higher risk borrower because of their poor documentation. SMEs have no lucrative projects, low quality, real estate title deed is not clear, no clear business aims and succession business plans, and no available credit history. Besides that, small and medium sized enterprises unable to give necessary documentation like financing accounting and track records for application of credit facilities. Due to that heavy documentation needed by commercial bank so they will delay the processing of application loan(Gloria, 2010). In India, small and medium enterprises suffer losses in their business so they always provide bad track record for application loans. Besides that, SMEs seldom have a long history so they usually hard to get loan (Gandhi, 2011). According to Executive Director of First Banc Mawuli Hedo, it is possible to reduce the rate of bank facilities but majority of the SMEs do not provide proper documentation (Obeng-Sakyi Sobgbodjor, 2010). In Thailand, the major obstruction for SMEs is facing several financial problems which include trouble in debts and lack of working capital. SMEs have facing problem in obtaining loan from domestic commercial banks especially in business of handicraft products. They have deficient plant and equipment and do not use standard accounting procedures. (Arunee and Anongnart, 2000). From the SMEs opinion, they have been complained that shortage of information and guidance provide by commercial banks, complication and trouble related to credit facilities application procedure, insufficient requirement of SMEs, high interest rates charged, and lack of collateral are the major problem access to finance (Sinswat and Subhan, 2010). From the commercial banks point of view, the main obstructions for loaning to SMEs consist of lack of collateral provided by SMEs, inadequate business experience, poor management, untrustworthy accounting system, no business plan, no long credit provided, high transaction and operational costs per SME loan application (Sinswat and Subhan, 2010). In China, most SMEs companies financial performance is not satisfactory by commercial banks. SMEs companies always with low level of average profit because they are in high competitive industries. In addition, their bankruptcy rate is very high for the reason that they are easily affected by business environment, sensitive to the effects of variables and risk. They have poor supervision and sense of credit. As such, after suffering from a huge loss, SMEs normally cannot raise any corrective measures. They attempt to be delayed the payment for interests and principle and let the lending bank suffer the loss. Furthermore, SMEs is difficult to meet the requirement or condition in the way of operation scale and business capacity due to the present credit assessment system is set for large size enterprises (Xiao Li, 2003). With unofficial financial accounting and poor management, so SMEs unable to meet the bank collateral conditions and guarantees due to commercial banks offer most of mortgages loans is secured by real estate. As most SME loan is an urgent require for capital due to short-term liquidity stress, for term of revolving credit cannot be correctly measured and the probability of overdue payback is relatively high. Commercial banks have problems to assess SMEs production business when confront with such complicated SME market (Yanan Chao, 2010). Rejecting Loan Application In Malaysia, if refer to the form of cash flow in SME Company, know that inability to generate cash to repay the loan, commercial banks automatically will rejecting loan application (Banking Info, 2003). SMEs will face problem in obtaining loan such as the commercial banks rejecting loan application, the general reason include poor credit history, inadequate capital commitment, inadequate supporting documents, unacceptable financial problem, lack of financial information and doubtful repayment ability. Besides that, the borrower is the high risk enterprises which overdependence on a single purchaser or dealer (SMI/SME Business Directory Malaysia, 2010). HSBC Bank Malaysia Bhd managing director Thomas Varughese said that the top issues to reject loan application is the applicant do not provided enough financial information. Besides that, SMEs do not perform well in managing their financial position. Another issue for rejecting loan application is the poor credit history for the enterprises, director and guarantors. (Kian Seong, 2010). Reduce the facility In Malaysia, Banking info (2003) recorded that commercial banks perform periodical review of their credit risk profile of existing loans and based on this assessment, if their assessment proves a high default risk profile, the commercial banks will reduce the amount of credit facility. In India, if the SME companies without increasing the security, commercial banks will maintain or reduce the credit facilities (Aditi, 2005). In Singapore, Hng Kiang (2009) said that the SMEs credit facility from commercial banks is secured by strong collateral, but they also will reduce the credit facility during the recession period.

motivation :: essays research papers

I once had an interesting conversation with the owner/manager of a clothing manufacturing company. He operated a large and successful business, principally supplying uniforms for the corporate market. He was surprised by some of his workers. They worked on a piece work rate (paid per item) and some of the very efficient staff did not produce as much as they were capable of. They worked hard at the start of the pay period, but then they tapered off. He expected them to work hard the whole time, as they were paid by what they produced - the harder they worked, the more they were paid. He expected that the extra money reward would motivate them. Motivation is a complex concept. Remuneration is also complex. Individuals react in different ways to pay schemes. A simple explanation for the clothing worker behaviour is that they did not work just for the money. They enjoyed the working environment and the social interaction it provided. They liked to have work, to be employed, and yes they needed a certain level of income. But once they achieved that, the pressure to work hard was reduced. Given that the actual work task was quite monotonous and repetitious, it was not surprising that they exhibited this behaviour. Drastic work design was required. People think that money is a motivator. It does have an effect, but motivation involves far more. Sales people are the classic example. Most are on performance based schemes. But what is one of the main themes sales and marketing consultants write about? You guessed it - how to motivate your sales team! Consultants would not need to write motivation articles if financial reward alone worked. Equity in compensation practices Positive effects come from good financial and non-financial rewards. It is very important to have a well managed remuneration system in place. Fair and reasonable reward is essential and very important for good morale. I believe strongly in the equity theory of motivation. Simply put, the theory states that people have to believe that their pay is equitable with others. When they compare their salary and benefits with their colleagues and co-workers, they must believe that they are being fairly compensated. If they believe their compensation is not equitable, they become very de-motivated and their work performance suffers. Financial and nonfinancial rewards I subscribe to the theory that states it is the nature of the work that is important.

Robert Frosts Design Essay -- Poetry Poem Essays Poet

Robert Frost's Design Robert Frost's "Design" is a meditation on human attempts to see order in the universe--and human failures at perceiving the order that is actually present in nature. The speaker of the poem perceives what he takes to be a significant coincidence, then speculates on what the coincidence might mean, or whether it means anything at all. However, he fails to see that there is a very good reason for the coincidence he spots, and the "design" of nature that it implies is quite different from anything he suggests. Design by Robert Frost I found a dimpled spider, fat and white, On a white heal-all, holding up a moth Like a white piece of rigid satin cloth-- Assorted characters of death and blight Mixed ready to begin the morning right, Like the ingredients of a witches' broth-- A snow-drop spider, a flower like a froth, And dead wings carried like a paper kite. What had that flower to do with being white, The wayside blue and innocent heal-all? What brought the kindred spider to that height, Then steered the white moth thither in the night? What but design of darkness to appall?-- If design govern in a thing so small. The starting point for the speaker's thinking is what he perceives to be a coincidence: a white spider sits on a white flower holding up a white moth. The coincidence is even more striking because heal-alls are usually blue. In Western culture, the color white usually symbolizes goodness, purity, and innocence. The language of the poem suggests these connotative links: the spider is "dimpled" as well as "fat and white," like a newborn baby. The moth's wings are like a "white piece of rigid satin cloth," like a bridal dress (or perhaps the lining of a c... ...er would be attracted to a white flower because it would offer some concealment from prey. There is indeed a "design" at work, but it is not a "design of darkness"; it is simply the order of nature. The existence of such a design leaves open the question of whether God exists.An atheist would take the explanation above as evidence that there are rational explanations for natural processes, and that there is no need to invoke the concept of God to explain how the universe works. In other writings, Frost does appear to profess belief in God (albeit belief of a complex kind). The focus of "Design," then, is not ultimately the existence or absence of God, but rather the tendency of humans to engage in what John Ruskin called the "pathetic fallacy"--the act of reading oneself into nature. The first act of responsible belief, Frost implies, is seeing nature as it is.

Beer Wars Essay

Beer Wars is documentary about the American beer industry and how the 3 largest US breweries try to drive out the competition. This documentary covers how lobbyists are used to control the beer market and drive out smaller breweries such as Dogfish Head Brewery, Stone Brewery, and Moonshot: all producers of craft beer. The documentary describes how a 3 tier system was put into place to separate the powers of selling beer and prevent a monopoly but the laws that were put into place to prevent the monopoly, infact, promoted the size and strength of the largest beer corporations. An oligopoly was formed and maintained between Anheuser Busch, Coors, and Miller. Porter’s Five Forces Model is a business strategy that was covered in Beer Wars. Anat Barron described how difficult it was for small craft beer makers to be new entrants to the beer industry. When Anheuser Busch felt the least bit threatened, they had the capital and access to distribution channels that the smaller breweries did not have. The craft breweries found it greatly difficult to compete with the big 3 because they were not a substitute for the Big 3’s product, they were a small competitor. Anheuser Busch controlled the bargaining power because they were able to keep prices down due to their size and pockets while small craft breweries had to be more expensive because of the quality and care that went into it on top of having to pay a higher rate for ingredients compared to the other large corporations. To cite an example of the deep pockets that the big 3 had, Anheuser Busch came out with beer with caffeine in response to Moonshot beer, which was a craft beer (and the first of it’s kind). It can be viewed as theft but they had the pockets to Moonshot out. They targeted the bars and stores that carried Moonshot and gave them free cases of Anheuser Busch’s version of Moonshot beer. Though illegal some bars took it because it was free and busch had better prices to drive moonshot out. The intensity of competitive rivalry was at an all-time high when it came to Anheuser Busch trying to weed out the smaller breweries. The big 3 breweries managed to control the market share through advertising on tv , sponsorships, and on the store shelves through strategic placement of their product. The three tier system that separates the powers of selling beer delves into how lobbyists are used to control the beer market. Anheuser Busch uses their deep pockets to get rid of competition from small craft beer makers and control consumer choice. They purchase other beer corporations. Although only touched upon briefly towards the end of the film, Anat touched upon how Coors and Miller had to go into a 50/50 joint venture to compete with Anheuser Busch. Coors and Miller scanned the beer environment and realized that they could not keep a myopic view and hope for things to turn around. They knew that in order for each to survive, they needed to join forces. They were easier for Anheuser to take out individually but stronger as a whole.

Le film et le roman

Many say that when comparing movies and books they differ a lot. Books provide a more detailed viewing of characters and the events that occur, whereas the movies leave out Information and sometimes deter the moral of the story. In the movie and book; Ell Suppliant Sarah, it can be seen that movies based on books do not portray the same events and themes occurred. Ultimately this takes away from emotions one feels towards certain situations. Differences can be seen in the relationships between certain characters.Also the way traits of certain characters are shown. Moreover, some events that happened were not the same and took away from the verbal meaning of the story. To begin with, the first difference that Is seen Is the relationships between certain characters, especially Julia and Bertrand. In the book, it can be seen that their relationship Is very tense and not so strong. This can be seen when Bertrand insults Julia in in front of his assistant about how Americans think they ar e the best and Julia thinks to herself (De Rosary, 36-37).From this quote one can see that the relationship between Julia and Bertrand lacks love and affection. Julia feels silly and ridiculed by Bertrand and does not understand why he chooses to act this way. However, in the movie Antoine is not in this scene and their relationship is strong and is working well. As well, later on Dana lee roman, Julia finds out she is pregnant and thinks Bertrand will be happy to know this. After telling him, she finds out that he is not happy she is devastated and this can be seen when she says >(156-166).This quote shows how terrible and angry Julia feels that Bertrand does not want to keep the baby. In movie, It Is seen that Julia is a little upset, however she quickly recovers and It does not seem to bother her for too long. For both instances. The book has a ore detailed way of portraying her thoughts whereas the movie fails to do so. In the end this takes away from emotions and attachment vie wers should feel towards her and leaves them surprised when they split up. Thus, that is how relationships are changed movie and book.Not only Is there a difference between relationships, but also the way characters are shown. In the book, Sarah's character Is naive and Innocent; however In the movie it Is Intelligent and clever. While at the camp, Rachel makes the plan to escape and at first Sarah hesitates, but then agrees. This can be seen when Rachel says Rachel lavish connivance. Less aliment s'Â ©cheaper. Less aliment quitter get 32). Although, in the movie, Sarah brings up the idea and tells Rachel. Moreover, in the book when Sarah and Rachel escape, the police officer knows Sarah and eventually lets her go, (139).Nevertheless, In the movie the police man does not know her and lets her go because of the sympathy he feels for all the kids. Through the events that happened at the camp, the differences were clearly noticeable. Sarah's character may have been changed to be more courageous because she is constantly reminded that she is to blame for hiding Michel. This is because her arenas yell at her for doing this whereas in the book, they do not put too much emphasis on It, illustrating that her parents know she is too young to understand the current situation.This takes away from her loving character and the fact that she under the pressure of her parents blaming her for what she did. Hence, this changes the way Sarah's character is shown in both the movie and the book. Furthermore, UN tauter difference est.. Queue, Dana lee roman, Julia and Zoe both go to America, although, in the movie Julia ends up going alone. This was different in the book because in the book Zoe plays an important role in encouraging her mother. This is significant because she is the one who forces Julia to not give up and actually go and meet William. Therefore, when she meets William, Zoe is not with her.Taking out these events takes away from Zoo's character and makes Julia see m stronger than she actually she is. Furthermore, this leads to William being in denial of his mother's past. In the book he is surprised by what he learns and chooses to be ignorant and neither William nor his father know about Sarah's past. However, in the movie they add in a scene of William meeting his sick father. In it he learns that his father actually knows what happened but never chose to tell him. This is significant because it changes the story as it is a secret that only he does not know about.As a result, this takes away from the whole purpose of Cilia's Journey of being able to tell William about his mother's past. Also this alters the theme of forgetting the past, as in the book Sarah keeps to herself and does not tell anyone. Otherwise in the movie Sarah tells someone but still ends up committing suicide because it was too much to handle. This shows that even the process of sharing her story didn't take away the burden from her heart. Therefore, it is evident that mo vies based on books do not portray the same events ND themes occurred and takes away from the emotions one feels towards certain situations.While reading a book, it allows one to use their creativity and imagine what is happening. Nonetheless movies Just show what is happening and sometimes end up changing the storyline. As seen in Ell Specialty Sarah, many things were changed, including the relationships between characters, the traits of certain characters, and changes in events. In the end, this altered the themes and made it hard for viewers to understand the story. Thus, it can be concluded that movies based on books have a lot of differences.

The Role of Alan Turing in the History of Computing

The role of Alan Turing in the history of computing Alan Mathison Turing was born on 23 June 1912, Paddington, London. He was a true pioneer in computer science and if it were not for this man, no one would probably be typing an essay based on him on a modern computer. He is renowned for his passion of mathematics and the invention of the Turing machine/test, breaking the German enigma code during World War One, and for making the first automated computing machine (the ACE).At an early age he was sent to preparatory school by his parents, he attended these until enrolling at Sherbourne in 1926. His teachers there were surprised to find him working through the long way for the answers to questions, after Sherbourne Turing enrolled at King’s College where he became a mathematics scholar in 1931 where he began his studies in maths and logistics. He was elected at King’s and won the Smith’s award in 1936 for a paper he wrote on the â€Å"Gaussian error function†, this is when he began work to develop The Turing Machine. Copeland, 2004) But later in 1936 he moved to the United States to study at Princeton for two years where he studied the theory of computation and in 1937 presented a paper called â€Å"On computable numbers, with an application to the â€Å"Entscheidungs problem† and soon to challenge David Hilbert’s three questions put forward to the best of the mathematical minds, which were; Was maths complete? Was maths constant? , was maths decidable? (Hodges, 1992; Copeland 2004).Though his work on the Entscheidungs problem he began working on to define what a method was, and through that he came up with the Turing machine theory which can be said to be a mechanical process that was able to perform all the operations a person working with a logical system would be able to perform this theory compares human thought processes to that of a machine, which in the Turing machine theory are categorized as terms of inputs, o utputs and machine states.The Turing machine is a simple computer. It’s limited to a logical set of instructions by reading and writing symbols on a tape and moving the tape one step to the left or right and then look at what’s written in the resulting square, each symbol had a specific way to be turned into a new symbol e. g. if the symbol is a â€Å"0† move it two spaces right and turn it into a â€Å"1†. So a algorithm for a calculation the list of instructions are quite long, but the complexity of instructions are very short.The Turing Machine at the time was the only one designed to perform multiple tasks and functions. Turing’s vision was what we currently use today as a modern computer (Copeland, 2012). Soon after this period World War two began and the Polish were bracing themselves from an invasion from the Germans, When Polish mathematician Marian Rejewski attempted to break the German enigma machine which is a mechanical ciphering machin e which had the purpose of a message only being read and understood by the receiver.Marian made the polish bomby which works like a combination of many enigma machines e. g. if SAW stood for GJK then both would be put in the bomby and every possible combination would be sorted through and would stop when a possible match was found, this worked well until 1938 when Germany added two more rotors to the Enigma (Schmidl, 1998), sadly the Polish had to leave Poland and forced to team up with the English and French and this where Alan Turing’s true genius was put into application and saved hundreds and thousands of lives.Turing then put the Polish’s efforts into action, the British had a lot more resources which consisted of about ten thousand people working on the encoding of the Enigma, Turing created The Turing Bombe which was a lot more efficient than the bomby and it differed in the way that instead of trying to rely on a certain indicator decode a certain message sent, it went after the specific message using word probability.Once the message was solved a ’menu’ was put on the bombe and was then put in its proper setting, was given information and let it run until it matched with the rotors, Three to Seven months later a set of three rotors were place in the scrambler unit, this made the processing a lot faster as the scrambler unit made the current go from the fast, medium then the slow rotor.Eventually the codes made by the Germans became clearer and they lost their advantage in World War two, and the U boats who were sinking the supply ships from America and Canada to Great Britain, could not locate the supply ships for the first 23 days of June 1941 (Kozaczuk, 1984). After World war two Turing went to work for the National Physical Laboratory in 1945 where he made the first plan for the first Automated Computing Machine for the Association for Computing Engineering (the ACE). Unfortunately the ACE was never completed as he moved to the University of Manchester to develop an even more advanced computing machine (MADAM).With all of Turing’s work he had proved David Hilbert wrong with all three questions with the fact that a certain class of mathematical problems which could not be solved by automatic machines and had introduced the concept of a single theoretical universal computing machine, which of course is now known as the Turing Machine. In 1947 he tried to find out if there was any relationship with computers and nature and Turing was certain that by about the year 2050 that a thinking machine would mimic the thoughts of a human and it was in 1949 he published a paper called â€Å"intelligent machines† (Copeland, 2005)Alan Turing passed away on 7 June 1954, he was found in his bed with an half eaten apple beside his bed, which was apparently dipped in cyanide on purpose by himself so he could commit suicide as he was supposedly depressed after being found guilty of homosexuality by the Br itish courts. But there is little evidence to support this theory of Turing committing suicide (Pease, 2012). Bibliography Schmidl, H. , (1998) On Enigma and a Method for its Decryption http://www. cs. miami. edu/~harald/enigma/index. html Kozaczuk, W. (1984), Enigma: How the German Machine Cipher Was Broken, and How It Was Read by the Allies in World War Two, (2nd ed. ), Frederick, Maryland: University Publications of America. Hodges, A. , (1992), Alan Turing: the enigma, London: Burnett Books. P. 26-34. Copeland, B. J. , (2004) The Essential Turing. Oxford: Oxford University Press Pease, R. , Alan Turing: Inquest's suicide verdict ‘not supportable' (June 26,2012). , BBC News, science and environment. Copeland, B. J. , Alan Turing. net, the Turing archive for the history of computing (2012). The Role of Alan Turing in the History of Computing The role of Alan Turing in the history of computing Alan Mathison Turing was born on 23 June 1912, Paddington, London. He was a true pioneer in computer science and if it were not for this man, no one would probably be typing an essay based on him on a modern computer. He is renowned for his passion of mathematics and the invention of the Turing machine/test, breaking the German enigma code during World War One, and for making the first automated computing machine (the ACE).At an early age he was sent to preparatory school by his parents, he attended these until enrolling at Sherbourne in 1926. His teachers there were surprised to find him working through the long way for the answers to questions, after Sherbourne Turing enrolled at King’s College where he became a mathematics scholar in 1931 where he began his studies in maths and logistics. He was elected at King’s and won the Smith’s award in 1936 for a paper he wrote on the â€Å"Gaussian error function†, this is when he began work to develop The Turing Machine. Copeland, 2004) But later in 1936 he moved to the United States to study at Princeton for two years where he studied the theory of computation and in 1937 presented a paper called â€Å"On computable numbers, with an application to the â€Å"Entscheidungs problem† and soon to challenge David Hilbert’s three questions put forward to the best of the mathematical minds, which were; Was maths complete? Was maths constant? , was maths decidable? (Hodges, 1992; Copeland 2004).Though his work on the Entscheidungs problem he began working on to define what a method was, and through that he came up with the Turing machine theory which can be said to be a mechanical process that was able to perform all the operations a person working with a logical system would be able to perform this theory compares human thought processes to that of a machine, which in the Turing machine theory are categorized as terms of inputs, o utputs and machine states.The Turing machine is a simple computer. It’s limited to a logical set of instructions by reading and writing symbols on a tape and moving the tape one step to the left or right and then look at what’s written in the resulting square, each symbol had a specific way to be turned into a new symbol e. g. if the symbol is a â€Å"0† move it two spaces right and turn it into a â€Å"1†. So a algorithm for a calculation the list of instructions are quite long, but the complexity of instructions are very short.The Turing Machine at the time was the only one designed to perform multiple tasks and functions. Turing’s vision was what we currently use today as a modern computer (Copeland, 2012). Soon after this period World War two began and the Polish were bracing themselves from an invasion from the Germans, When Polish mathematician Marian Rejewski attempted to break the German enigma machine which is a mechanical ciphering machin e which had the purpose of a message only being read and understood by the receiver.Marian made the polish bomby which works like a combination of many enigma machines e. g. if SAW stood for GJK then both would be put in the bomby and every possible combination would be sorted through and would stop when a possible match was found, this worked well until 1938 when Germany added two more rotors to the Enigma (Schmidl, 1998), sadly the Polish had to leave Poland and forced to team up with the English and French and this where Alan Turing’s true genius was put into application and saved hundreds and thousands of lives.Turing then put the Polish’s efforts into action, the British had a lot more resources which consisted of about ten thousand people working on the encoding of the Enigma, Turing created The Turing Bombe which was a lot more efficient than the bomby and it differed in the way that instead of trying to rely on a certain indicator decode a certain message sent, it went after the specific message using word probability.Once the message was solved a ’menu’ was put on the bombe and was then put in its proper setting, was given information and let it run until it matched with the rotors, Three to Seven months later a set of three rotors were place in the scrambler unit, this made the processing a lot faster as the scrambler unit made the current go from the fast, medium then the slow rotor.Eventually the codes made by the Germans became clearer and they lost their advantage in World War two, and the U boats who were sinking the supply ships from America and Canada to Great Britain, could not locate the supply ships for the first 23 days of June 1941 (Kozaczuk, 1984). After World war two Turing went to work for the National Physical Laboratory in 1945 where he made the first plan for the first Automated Computing Machine for the Association for Computing Engineering (the ACE). Unfortunately the ACE was never completed as he moved to the University of Manchester to develop an even more advanced computing machine (MADAM).With all of Turing’s work he had proved David Hilbert wrong with all three questions with the fact that a certain class of mathematical problems which could not be solved by automatic machines and had introduced the concept of a single theoretical universal computing machine, which of course is now known as the Turing Machine. In 1947 he tried to find out if there was any relationship with computers and nature and Turing was certain that by about the year 2050 that a thinking machine would mimic the thoughts of a human and it was in 1949 he published a paper called â€Å"intelligent machines† (Copeland, 2005)Alan Turing passed away on 7 June 1954, he was found in his bed with an half eaten apple beside his bed, which was apparently dipped in cyanide on purpose by himself so he could commit suicide as he was supposedly depressed after being found guilty of homosexuality by the Br itish courts. But there is little evidence to support this theory of Turing committing suicide (Pease, 2012). Bibliography Schmidl, H. , (1998) On Enigma and a Method for its Decryption http://www. cs. miami. edu/~harald/enigma/index. html Kozaczuk, W. (1984), Enigma: How the German Machine Cipher Was Broken, and How It Was Read by the Allies in World War Two, (2nd ed. ), Frederick, Maryland: University Publications of America. Hodges, A. , (1992), Alan Turing: the enigma, London: Burnett Books. P. 26-34. Copeland, B. J. , (2004) The Essential Turing. Oxford: Oxford University Press Pease, R. , Alan Turing: Inquest's suicide verdict ‘not supportable' (June 26,2012). , BBC News, science and environment. Copeland, B. J. , Alan Turing. net, the Turing archive for the history of computing (2012).

How to establish the communication Essay

Everyone has different needs and styles in which they communicate. There are also many different ways in which we may establish these communication needs, wishes and preferences. A good way to begin to understand a patient’s needs, wishes and preferences is to read their notes and history’s to see if this contains any relevant information. For example, if I read that a patient has hearing problems, I would then know to make sure that I speak to the patient clearly and slowly and look at them so they can read my lips. Other ways to establish communication needs, wishes and preferences is by interacting with the patient and through conversation I learn how to best communicate with the patient. It is also important to remember to be clear and concise in all forms of communication, especially when working with people with learning disabilities, where they might get confused if I speak too quickly or use too complex language. It may benefit, if this is the case, to use your body language to help explain what you are trying to say and to emphasise the tone of the conversation. Also, pictures can be used to help the patient and myself understand. For example, one of my patients uses cards that display what emotions they are feeling, they will use these to communicate how they are feeling. In the past, I have worked with a patient who is deaf. For me to establish what her needs were, I first spoke to the nurse in charge and they informed me she was deaf, however, could sign or write things down. As I could not sign, our preferred form of communication was writing, which after spending time together worked quite well.