Contract Law

Introduction In today’s economic climate businesses often exert commercial pressure during contract negotiation stages. This is a normal part of the process and parties to a contract generally know when pressure being exerted is lawful. Although there is a difference between commercial negotiation and illegitimate pressure, it is often difficult to distinguish between the two. Furthermore, because economic duress can arise from pressure that is not in itself unlawful, parties may be unaware that the pressure they are subjecting a party to a contract is actually economic duress. Despite this, if a court finds that one party to a contract has exerted illegitimate pressure on another party, the innocent party may be able to establish a claim of economic duress. Given how uncertain the economy is at present, hard bargaining is a common form of negotiation, though it is vital that businesses are aware of the risks when exerting pressure that is likely to be deemed illegitimate. It is unclear ho w this distinction can be made, nonetheless, which suggests that further clarity is needed within this area. This study intends to explain the developments that have taken place in the doctrine of economic duress and why the courts perceived a need for a more robust approach in light of the Williams v Roffey Brothers and Nicholls (Contractors) Ltd [1991] 1 QB 1 case. Duress Duress is a common law defence that allows a contract to be set aside in instances where one party has been subjected to force or pressure from the other party to enter into the contract. Duress has been defined as â€Å"making someone do something against his will, or making someone perform an illegal act, by using threats, coercion or other illicit means† (Dictionary, 2014: 1). Duress is basically the use of unlawful means to force another to perform an act by either threatening them or performing an act of violence. The party claiming duress will be required to show that they did not have a choice but to enter into the contract (Cserne, 2009: 57). Economic duress, on the other hand, is a fairly new phenomenon that is becoming an important tool for determining whether a contract that has been entered into is enforceable or not. Economic duress happens when a person’s economic interests are damaged from being forced or coerced into entering into a contract. This type o f duress has been defined as the â€Å"unlawful use of economic pressure and/or threats intended to overcome the free will of a person, in order to force him or her to an involuntary agreement or to do something that he or she would not otherwise do† (Business Dictionary, 2014, 1). Economic duress is essentially a contract law defence that allows a person to dispute the formation of a binding contract by arguing that that they were forced to enter into the contract. Previously, parties to a contract could only rely on the doctrine of consideration for protection when they were being subjected to economic duress. Consideration is the price that one party will pay for another party’s promise (Card et al; 2003: 63); Collins v Godefroy (1831) 1 B&Ad 950. The doctrine of consideration does not allow parties in a contract to insist on further payments to perform tasks they are already required to perform under the contract simply because they are in a stronger bargaining pos ition; Stilk v Myrick (1809) 2 Camp 317. Economic Duress and Commercial Pressure It is now widely accepted by the courts that undue commercial pressure can amount to duress. The doctrine of economic duress has evolved significantly from various trade union decisions including; Universe Tankships v International Workers Federation (â€Å"The Universe Sentinel†) [1983] 1 AC 366 and Dimskal Shipping v International Works Federation (â€Å"The Evia Luck†) [1992] 2 AC 152. In The Universe Sentinel, a trade union, which had blacklisted a ship, forced the owner to provide payment before they would remove the ship from the black list. As there would have been disastrous consequences if the ship could not sail, the owner made the payment. Because the ship owner had no other practical choice but to make the payment, he later brought a successful claim for the recovery of the money by establishing economic duress. Similarly, in The Evia Luck a trade union insisted that a ship owner signed various contractual documents so that his ship could sail, which was fou nd by the court to be a form of economic duress. In order to make an economic duress claim, there are a number of elements the claimant will need to be established. These are; a) that the pressure was illegitimate; b) that the pressure was a significant cause that induced the claimant to enter into the contract; and c) that the practical effect of the pressures means that the claimant has no other choice but to enter into the contract (Ohrenstein, 2013: 2). The claimant will be entitled to avoid the contract and claim restitution of any monies that have been paid under it if these elements can be established. In deciding what amount to illegitimate pressure, the court will take a range of factors into account. For example, in DSND Subsea Ltd v Petroleum Geo Services ASA [2000] EWHC 185 it was made clear that the court will be required to consider whether the breach of contract was an actual or threatened breach; whether the person whom exerts the pressure has acted in good or bad faith; whether the claimant had any real or practical alternative but to give in to the pressure; whether the claimant protested at the time; and whether the claimant sought to rely on the contract. One of the most successful forms of economic duress is a threat to breach a contract. In Siboen and The Sibotre [1976] 1 Lloyd’s Rep 293 charterers of two ships threatened to break their charterparties by refusing to pay the agreed charter rate if the rate was not lowered. The owners of the ships had been informed that the charterers had no substantial assets and that the charterers would otherwise go into liquidation if the charter rates were not lowered. This information was not actually true but it caused the owners to reduce the rates nevertheless. It was found that economic duress could apply to this situation as all of the relevant factors were present. Since this decision, the courts seem to have accepted that economic duress is coercive and therefore worthy of the same relief as duress to the person or property (Chen-Wishart, 2012: 316). In spite of this, the practical application of economic duress has been subject to much confusion and it has been questioned when, if ever, renegotiations should be enforced. It would seem, under the doctrine of consideration, that renegotiations can never be enforced on the basis that â€Å"no additional consideration supports the promise to pay more or accept less† (Chen-Wishart, 2012: 316). Under the promissory estoppel doctrine, the promise to pay the same for less can be enforced in limited circumstances, though this does not apply if illegitimate pressure has been exerted. Therefore, if it can be demonstrated that illegitimate pressure has been applied to the renegotiation of a contract, that contract will not be enforceable. Because commercial contracts are extremely competitive, it is likely to be the case that some form of pressure will always be applied. Though the question to be determined is whether the pressure that has been applied is legitimate or not. This is l ikely to be extremely problematic and thus cause a great deal of complexity for the courts. As exemplified in the cases above, threats to blacklist a ship and refuse its release may constitute duress. Further examples of where economic duress has occurred can be seen in the cases of North Ocean Shipping Co Ltd v Hyundai Construction Co Ltd [1979] QB 705 and Pao On v Lau Yiu Long [1979] UKPC 17 where threats to terminate a contract in the absence of a renegotiation is also illegitimate unless it can be legally justified. What will be deemed â€Å"legally justified† is largely a matter to be determined based upon individual facts and circumstances, though there is likely to remain a lot of confliction in this area. In Williams v Roffey Brothers Ltd [1991] EWCA Civ 5 the Stilk case was severely limited by the courts. Here, the consideration requirement was extended to include â€Å"practical benefits† and thereby covered the promise to perform an existing contract. Here, a number of contractors promised to refurbish 27 flats with a sub-contractor performing the carpentry. Before the flats were finished, the sub-contractor realised that he had under-priced the contract and was resultantly facing financial difficulty. The main contractors offered the sub-contractor a financial inducement to finish the contract on time. It is trite law that consideration is needed for a party to that contract to be able to sue on it. Since the sub-contractor was doing no more than he was already bound to do under the contract, consideration was lacking. Surprisingly, it was held by the court that because the contractors had received a benefit from the sub-contractor, in that they avoided the penalty clause of the main contract, the sub-contractors claim was successful. This did not mean that consideration was present as the benefit did not move from the promisee, although there was a clear departure from the orthodox principle of consideration principle. The doctr ine of consideration maintains that a contract will not be supported by the performance of an existing duty unless that duty exists by virtue of a third party contract (Noble, 1991: 141). This decision conflicts with the decision in Stilk which demonstrated that consideration needs to be of economic value to be deemed good consideration and that it needs to move from the promise as also shown in; White v Bluett (1853) 23 LJ Ex 36; Thomas v Thomas (1842) 2 QB 851; Shadwell v Shadwell (1860) 9 CBNS 159; and Scotson v Pegg (Scotson v Pegg (1861) 6 H & N 295). It has also been argued by Cheshire et al; that; â€Å"the time has come to recognise formally the alternative definition of consideration and admit that the rationale behind the refusal to enforce some types of consideration is pure policy† (Cheshire et al; 2012; 77). Arguably, it appears that the consideration principle is rather outmoded and in need of reform so that a more robust approach to economic duress can be taken by the courts. At present, much confusion arises as to when economic duress can be used as a defence. Judges thus need to err on the side of caution to prevent commercial pressure being mistaken for economic duress and vice versa. Still, as stressed by the court in Adam v Opel Gmbh v Mitras Automotive [2007] EWHC 3481; â€Å"the list of matters to be considered in assessing legitimacy is not exhaustive, and the weight to be attached to each of them will depend on the facts of the individual case.† Furthermore, it was also stated in the case that the decision to be made will involve some element of value judgement when considering whether the pressure that was exerted on the claimant crossed the line from that which must be accepted in normal robust commercial bargaining. It is clear from the decision in this case that the courts have made some attempts to provide clarity in this area and that each case will be decided on its own facts. In the more recent case of Kolmar Group AG v Traxpo Enterprises Pyt Ltd [2010] EWHC 113 it was evidenced that a contract variation between a supplier and a customer will unlikely amount to duress if the supplier is unable to perform a contract as a result of financial difficulties that will cause the supplier to become insolvent. Another problem that arises when it comes to economic duress is whether lawful conduct can amount to illegitimate pressure. Whilst it is possible, it is also extremely rare as shown in CTN Cash and Carry Ltd v Gallaher Ltd [1993] EWCA Civ 19; GMAC Commercial Credit Ltd v Dearden [2002] All ER (D) 440 (May) and Wright v HSBC Bank plc [2006] EWHC 930 QB. Consequently, economic duress will continue to pose many problems as there will always be a debate as to whether particular circumstances may or may not give rise to a claim for economic duress. Because of the uncertainty within this area, it is evident that a more robust approach needs to be taken so that greater clarity and consistency can be provided. Economic duress has also been criticised for being causation-led, thereby meaning that a lack of causation will prevent a successful claim from being made. In Pao On v Lau Yiu Long [1979] UKPC 2 it was pointed out by Lord Scarman that in deciding whether causation was present, it will need to be considered whether the claimant; a) protested; b) had a practical alternative open to him; c) received independent advice; and d) acted promptly. This decision has been criticised for being inconclusive and failing to take into account the fact that claimants may not think that there is any point in protesting. This was recognised by Chen-Wis hart when it was argued that; â€Å"these factors are inconclusive. The victim may not protest because he sees no point in it or he may not wish to antagonise the coercing party whose performance he needs† (Chen-Wishart, 2012: 318). It is clear that the facts and circumstances of each case will be the determining factor as to whether the claimant has suffered economic duress or not. Because of the uncertainty that exists in this area, however, it is often difficult for those entering into commercial contracts to acknowledge that they are exerting pressure that is considered illegitimate, especially when there is a possibility that lawful pressure will also be capable of amounting to economic duress. As a result of this, Young warns against exerting commercial pressure that the courts may possibly consider economic duress: â€Å"Abusing your upper hand can leave the strong open to claims† (Young, 2012: 23). Conclusion Overall, whilst the doctrine of duress is well established in English law, the doctrine of economic duress still remains largely uncertain. This generally arises from the difficulty of distinguishing between legitimate and illegitimate economic duress. As such, it is up to the courts to decide when a person’s economic interests have been damaged from being forced or coerced into entering into a contract. Hence, the court will be required to consider whether the re-negotiation of the terms of the contract were lawful and whether the person being subjected to the economic duress, should be entitled to rescind the contract that they entered into. This is an important defence in ensuring that parties to a contract have equal bargaining power. Nevertheless, the practical application of economic duress has been subject to much confusion over the years, which may result from the reasoning that has been provided by the courts. There appears to be a lack of consistency that is being pr ovided, which highlights the need for future reform to this area. Whilst there is a difference between commercial negotiation and illegitimate pressure, it has proven extremely difficult to distinguish between the two, especially since lawful conduct can also amount to illegitimate pressure. In order to provide clarity to this area, it seems as though a more robust approach is therefore needed by the courts. References Business Dictionary. (2014) Economic Duress, [Online] Available: http://www.businessdictionary.com/definition/economic-duress.html [07 July 2014]. Card, R. Murdoch, J. and Murdoch, S. (2003) Estate Management Law, OUP, 6th Edition. Carr, N. (2011) Walking the Line – The Balance Between Legitimate Negotiation and Economic Duress, Available [Online]: [07 July 2014]. Chen-Wishart, M. (2012) Contract Law, Oxford University Press. Cserne, P. (2009) Duress in Contracts: An Economic Analysis, Contract Law and Economics, Volume 6, 2nd Edition. Furmston, M. P. Cheshire, G C. and Fifoot, C H. (2012) Cheshire, Fifoot and Furmston’s Law of Contract, Oxford University Press: London. Dictionary. (2014) Duress, [Online], Available: http://www.yourdictionary.com/duress [07 July 2014]. Noble, M. (1991) For Your Consideration, New Law Journal, Volume 141, Issue 1529. Ohrenstein, D. (2013) Key Developments in Contract Law: Economic Duress, Radcliffe Chambers, [Online] Available: http://www.radcliffechambers.com/media/Misc_Articles/Key_Developments_in_Contract_Law_-_Economic_Duress_2013.pdf [07 July 2014]. Young, A. (2012) When Pressure Turns to Duress, Construction Law Journal, Volume 23, Issue 5. Cases Adam v Opel Gmbh v Mitras Automotive [2007] EWHC 3481 Collins v Godefroy (1831) 1 B&Ad 950 CTN Cash and Carry Ltd v Gallaher Ltd [1993] EWCA Civ 19 Dimskal Shipping v International Works Federation (â€Å"The Evia Luck†) [1992] 2 AC 152 DSND Subsea Ltd v Petroleum Geo Services ASA [2000] EWHC 185 GMAC Commercial Credit Ltd v Dearden [2002] All ER (D) 440 (May) Kolmar Group AG v Traxpo Enterprises Pyt Ltd [2010] EWHC 113 North Ocean Shipping Co Ltd v Hyundai Construction Co Ltd [1979] QB 705 Pao On v Lau Yiu Long [1979] UKPC 17 Scotson v Pegg (Scotson v Pegg (1861) 6 H & N 295) Shadwell v Shadwell (1860) 9 CBNS 159 Siboen and The Sibotre [1976] 1 Lloyd’s Rep 293 Stilk v Myrick (1809) 2 Camp 317 Thomas v Thomas (1842) 2 QB 851 Universe Tankships v International Workers Federation (â€Å"The Universe Sentinel†) [1983] 1 AC 366 White v Bluett (1853) 23 LJ Ex 36 Williams v Roffey Brothers and Nicholls (Contractors) Ltd [1991] 1 QB 1 Wright v HSBC Bank plc [2006] EWHC 930 QB Contract Law Introduction In today’s economic climate businesses often exert commercial pressure during contract negotiation stages. This is a normal part of the process and parties to a contract generally know when pressure being exerted is lawful. Although there is a difference between commercial negotiation and illegitimate pressure, it is often difficult to distinguish between the two. Furthermore, because economic duress can arise from pressure that is not in itself unlawful, parties may be unaware that the pressure they are subjecting a party to a contract is actually economic duress. Despite this, if a court finds that one party to a contract has exerted illegitimate pressure on another party, the innocent party may be able to establish a claim of economic duress. Given how uncertain the economy is at present, hard bargaining is a common form of negotiation, though it is vital that businesses are aware of the risks when exerting pressure that is likely to be deemed illegitimate. It is unclear ho w this distinction can be made, nonetheless, which suggests that further clarity is needed within this area. This study intends to explain the developments that have taken place in the doctrine of economic duress and why the courts perceived a need for a more robust approach in light of the Williams v Roffey Brothers and Nicholls (Contractors) Ltd [1991] 1 QB 1 case. Duress Duress is a common law defence that allows a contract to be set aside in instances where one party has been subjected to force or pressure from the other party to enter into the contract. Duress has been defined as â€Å"making someone do something against his will, or making someone perform an illegal act, by using threats, coercion or other illicit means† (Dictionary, 2014: 1). Duress is basically the use of unlawful means to force another to perform an act by either threatening them or performing an act of violence. The party claiming duress will be required to show that they did not have a choice but to enter into the contract (Cserne, 2009: 57). Economic duress, on the other hand, is a fairly new phenomenon that is becoming an important tool for determining whether a contract that has been entered into is enforceable or not. Economic duress happens when a person’s economic interests are damaged from being forced or coerced into entering into a contract. This type o f duress has been defined as the â€Å"unlawful use of economic pressure and/or threats intended to overcome the free will of a person, in order to force him or her to an involuntary agreement or to do something that he or she would not otherwise do† (Business Dictionary, 2014, 1). Economic duress is essentially a contract law defence that allows a person to dispute the formation of a binding contract by arguing that that they were forced to enter into the contract. Previously, parties to a contract could only rely on the doctrine of consideration for protection when they were being subjected to economic duress. Consideration is the price that one party will pay for another party’s promise (Card et al; 2003: 63); Collins v Godefroy (1831) 1 B&Ad 950. The doctrine of consideration does not allow parties in a contract to insist on further payments to perform tasks they are already required to perform under the contract simply because they are in a stronger bargaining pos ition; Stilk v Myrick (1809) 2 Camp 317. Economic Duress and Commercial Pressure It is now widely accepted by the courts that undue commercial pressure can amount to duress. The doctrine of economic duress has evolved significantly from various trade union decisions including; Universe Tankships v International Workers Federation (â€Å"The Universe Sentinel†) [1983] 1 AC 366 and Dimskal Shipping v International Works Federation (â€Å"The Evia Luck†) [1992] 2 AC 152. In The Universe Sentinel, a trade union, which had blacklisted a ship, forced the owner to provide payment before they would remove the ship from the black list. As there would have been disastrous consequences if the ship could not sail, the owner made the payment. Because the ship owner had no other practical choice but to make the payment, he later brought a successful claim for the recovery of the money by establishing economic duress. Similarly, in The Evia Luck a trade union insisted that a ship owner signed various contractual documents so that his ship could sail, which was fou nd by the court to be a form of economic duress. In order to make an economic duress claim, there are a number of elements the claimant will need to be established. These are; a) that the pressure was illegitimate; b) that the pressure was a significant cause that induced the claimant to enter into the contract; and c) that the practical effect of the pressures means that the claimant has no other choice but to enter into the contract (Ohrenstein, 2013: 2). The claimant will be entitled to avoid the contract and claim restitution of any monies that have been paid under it if these elements can be established. In deciding what amount to illegitimate pressure, the court will take a range of factors into account. For example, in DSND Subsea Ltd v Petroleum Geo Services ASA [2000] EWHC 185 it was made clear that the court will be required to consider whether the breach of contract was an actual or threatened breach; whether the person whom exerts the pressure has acted in good or bad faith; whether the claimant had any real or practical alternative but to give in to the pressure; whether the claimant protested at the time; and whether the claimant sought to rely on the contract. One of the most successful forms of economic duress is a threat to breach a contract. In Siboen and The Sibotre [1976] 1 Lloyd’s Rep 293 charterers of two ships threatened to break their charterparties by refusing to pay the agreed charter rate if the rate was not lowered. The owners of the ships had been informed that the charterers had no substantial assets and that the charterers would otherwise go into liquidation if the charter rates were not lowered. This information was not actually true but it caused the owners to reduce the rates nevertheless. It was found that economic duress could apply to this situation as all of the relevant factors were present. Since this decision, the courts seem to have accepted that economic duress is coercive and therefore worthy of the same relief as duress to the person or property (Chen-Wishart, 2012: 316). In spite of this, the practical application of economic duress has been subject to much confusion and it has been questioned when, if ever, renegotiations should be enforced. It would seem, under the doctrine of consideration, that renegotiations can never be enforced on the basis that â€Å"no additional consideration supports the promise to pay more or accept less† (Chen-Wishart, 2012: 316). Under the promissory estoppel doctrine, the promise to pay the same for less can be enforced in limited circumstances, though this does not apply if illegitimate pressure has been exerted. Therefore, if it can be demonstrated that illegitimate pressure has been applied to the renegotiation of a contract, that contract will not be enforceable. Because commercial contracts are extremely competitive, it is likely to be the case that some form of pressure will always be applied. Though the question to be determined is whether the pressure that has been applied is legitimate or not. This is l ikely to be extremely problematic and thus cause a great deal of complexity for the courts. As exemplified in the cases above, threats to blacklist a ship and refuse its release may constitute duress. Further examples of where economic duress has occurred can be seen in the cases of North Ocean Shipping Co Ltd v Hyundai Construction Co Ltd [1979] QB 705 and Pao On v Lau Yiu Long [1979] UKPC 17 where threats to terminate a contract in the absence of a renegotiation is also illegitimate unless it can be legally justified. What will be deemed â€Å"legally justified† is largely a matter to be determined based upon individual facts and circumstances, though there is likely to remain a lot of confliction in this area. In Williams v Roffey Brothers Ltd [1991] EWCA Civ 5 the Stilk case was severely limited by the courts. Here, the consideration requirement was extended to include â€Å"practical benefits† and thereby covered the promise to perform an existing contract. Here, a number of contractors promised to refurbish 27 flats with a sub-contractor performing the carpentry. Before the flats were finished, the sub-contractor realised that he had under-priced the contract and was resultantly facing financial difficulty. The main contractors offered the sub-contractor a financial inducement to finish the contract on time. It is trite law that consideration is needed for a party to that contract to be able to sue on it. Since the sub-contractor was doing no more than he was already bound to do under the contract, consideration was lacking. Surprisingly, it was held by the court that because the contractors had received a benefit from the sub-contractor, in that they avoided the penalty clause of the main contract, the sub-contractors claim was successful. This did not mean that consideration was present as the benefit did not move from the promisee, although there was a clear departure from the orthodox principle of consideration principle. The doctr ine of consideration maintains that a contract will not be supported by the performance of an existing duty unless that duty exists by virtue of a third party contract (Noble, 1991: 141). This decision conflicts with the decision in Stilk which demonstrated that consideration needs to be of economic value to be deemed good consideration and that it needs to move from the promise as also shown in; White v Bluett (1853) 23 LJ Ex 36; Thomas v Thomas (1842) 2 QB 851; Shadwell v Shadwell (1860) 9 CBNS 159; and Scotson v Pegg (Scotson v Pegg (1861) 6 H & N 295). It has also been argued by Cheshire et al; that; â€Å"the time has come to recognise formally the alternative definition of consideration and admit that the rationale behind the refusal to enforce some types of consideration is pure policy† (Cheshire et al; 2012; 77). Arguably, it appears that the consideration principle is rather outmoded and in need of reform so that a more robust approach to economic duress can be taken by the courts. At present, much confusion arises as to when economic duress can be used as a defence. Judges thus need to err on the side of caution to prevent commercial pressure being mistaken for economic duress and vice versa. Still, as stressed by the court in Adam v Opel Gmbh v Mitras Automotive [2007] EWHC 3481; â€Å"the list of matters to be considered in assessing legitimacy is not exhaustive, and the weight to be attached to each of them will depend on the facts of the individual case.† Furthermore, it was also stated in the case that the decision to be made will involve some element of value judgement when considering whether the pressure that was exerted on the claimant crossed the line from that which must be accepted in normal robust commercial bargaining. It is clear from the decision in this case that the courts have made some attempts to provide clarity in this area and that each case will be decided on its own facts. In the more recent case of Kolmar Group AG v Traxpo Enterprises Pyt Ltd [2010] EWHC 113 it was evidenced that a contract variation between a supplier and a customer will unlikely amount to duress if the supplier is unable to perform a contract as a result of financial difficulties that will cause the supplier to become insolvent. Another problem that arises when it comes to economic duress is whether lawful conduct can amount to illegitimate pressure. Whilst it is possible, it is also extremely rare as shown in CTN Cash and Carry Ltd v Gallaher Ltd [1993] EWCA Civ 19; GMAC Commercial Credit Ltd v Dearden [2002] All ER (D) 440 (May) and Wright v HSBC Bank plc [2006] EWHC 930 QB. Consequently, economic duress will continue to pose many problems as there will always be a debate as to whether particular circumstances may or may not give rise to a claim for economic duress. Because of the uncertainty within this area, it is evident that a more robust approach needs to be taken so that greater clarity and consistency can be provided. Economic duress has also been criticised for being causation-led, thereby meaning that a lack of causation will prevent a successful claim from being made. In Pao On v Lau Yiu Long [1979] UKPC 2 it was pointed out by Lord Scarman that in deciding whether causation was present, it will need to be considered whether the claimant; a) protested; b) had a practical alternative open to him; c) received independent advice; and d) acted promptly. This decision has been criticised for being inconclusive and failing to take into account the fact that claimants may not think that there is any point in protesting. This was recognised by Chen-Wis hart when it was argued that; â€Å"these factors are inconclusive. The victim may not protest because he sees no point in it or he may not wish to antagonise the coercing party whose performance he needs† (Chen-Wishart, 2012: 318). It is clear that the facts and circumstances of each case will be the determining factor as to whether the claimant has suffered economic duress or not. Because of the uncertainty that exists in this area, however, it is often difficult for those entering into commercial contracts to acknowledge that they are exerting pressure that is considered illegitimate, especially when there is a possibility that lawful pressure will also be capable of amounting to economic duress. As a result of this, Young warns against exerting commercial pressure that the courts may possibly consider economic duress: â€Å"Abusing your upper hand can leave the strong open to claims† (Young, 2012: 23). Conclusion Overall, whilst the doctrine of duress is well established in English law, the doctrine of economic duress still remains largely uncertain. This generally arises from the difficulty of distinguishing between legitimate and illegitimate economic duress. As such, it is up to the courts to decide when a person’s economic interests have been damaged from being forced or coerced into entering into a contract. Hence, the court will be required to consider whether the re-negotiation of the terms of the contract were lawful and whether the person being subjected to the economic duress, should be entitled to rescind the contract that they entered into. This is an important defence in ensuring that parties to a contract have equal bargaining power. Nevertheless, the practical application of economic duress has been subject to much confusion over the years, which may result from the reasoning that has been provided by the courts. There appears to be a lack of consistency that is being pr ovided, which highlights the need for future reform to this area. Whilst there is a difference between commercial negotiation and illegitimate pressure, it has proven extremely difficult to distinguish between the two, especially since lawful conduct can also amount to illegitimate pressure. In order to provide clarity to this area, it seems as though a more robust approach is therefore needed by the courts. References Business Dictionary. (2014) Economic Duress, [Online] Available: http://www.businessdictionary.com/definition/economic-duress.html [07 July 2014]. Card, R. Murdoch, J. and Murdoch, S. (2003) Estate Management Law, OUP, 6th Edition. Carr, N. (2011) Walking the Line – The Balance Between Legitimate Negotiation and Economic Duress, Available [Online]: [07 July 2014]. Chen-Wishart, M. (2012) Contract Law, Oxford University Press. Cserne, P. (2009) Duress in Contracts: An Economic Analysis, Contract Law and Economics, Volume 6, 2nd Edition. Furmston, M. P. Cheshire, G C. and Fifoot, C H. (2012) Cheshire, Fifoot and Furmston’s Law of Contract, Oxford University Press: London. Dictionary. (2014) Duress, [Online], Available: http://www.yourdictionary.com/duress [07 July 2014]. Noble, M. (1991) For Your Consideration, New Law Journal, Volume 141, Issue 1529. Ohrenstein, D. (2013) Key Developments in Contract Law: Economic Duress, Radcliffe Chambers, [Online] Available: http://www.radcliffechambers.com/media/Misc_Articles/Key_Developments_in_Contract_Law_-_Economic_Duress_2013.pdf [07 July 2014]. Young, A. (2012) When Pressure Turns to Duress, Construction Law Journal, Volume 23, Issue 5. Cases Adam v Opel Gmbh v Mitras Automotive [2007] EWHC 3481 Collins v Godefroy (1831) 1 B&Ad 950 CTN Cash and Carry Ltd v Gallaher Ltd [1993] EWCA Civ 19 Dimskal Shipping v International Works Federation (â€Å"The Evia Luck†) [1992] 2 AC 152 DSND Subsea Ltd v Petroleum Geo Services ASA [2000] EWHC 185 GMAC Commercial Credit Ltd v Dearden [2002] All ER (D) 440 (May) Kolmar Group AG v Traxpo Enterprises Pyt Ltd [2010] EWHC 113 North Ocean Shipping Co Ltd v Hyundai Construction Co Ltd [1979] QB 705 Pao On v Lau Yiu Long [1979] UKPC 17 Scotson v Pegg (Scotson v Pegg (1861) 6 H & N 295) Shadwell v Shadwell (1860) 9 CBNS 159 Siboen and The Sibotre [1976] 1 Lloyd’s Rep 293 Stilk v Myrick (1809) 2 Camp 317 Thomas v Thomas (1842) 2 QB 851 Universe Tankships v International Workers Federation (â€Å"The Universe Sentinel†) [1983] 1 AC 366 White v Bluett (1853) 23 LJ Ex 36 Williams v Roffey Brothers and Nicholls (Contractors) Ltd [1991] 1 QB 1 Wright v HSBC Bank plc [2006] EWHC 930 QB

Reaction Report

When choosing a partner we are putting ourselves on what would be called a marketplace for relationships. People usually will marry within there ethnic group, nationality or social group. This is Endogamy also called in-marriage, custom enjoining one to marry within one’s own group. The penalties for transgressing endogamous restrictions have varied greatly among cultures and have ranged from death to mild disapproval. Endogamy has been common among extant and historical aristocracies, religious groups, ethnic groups, and social classes.People who are exogamies are also called out-marriage out of certain groups. This custom is enjoining a marriage outside one’s own group. Exogamy is usually defined through kinship rather than ethnicity, religion, or class. It is most common among groups that reckon descent through either the father or the mother alone. Such lineages may in turn be grouped into clans or moieties. These are most often the locus of exogamy; marrying a memb er of one’s own clan or moiety typically constitutes a form of incest. Exogamy does not guarantee hat spouses have no genetic relationship.In many exogamous cultures, cross-cousins are viewed as ideal marriage partners. In Homogamy chooses a mate who’s personal and group characteristics that are similar to our own. The notion is we like people who are like ourselves, and we tend to stay with those who carry the same personalities, interests, and ideals for the future. In terms of mate choice we do not prefer mates who carry opposites in gender roles, either: a couple with an equal definition and division of gender and sex characteristics tend to have longer, happier unions.With heterogamy it may refer to a marriage between two individuals that differ in a certain criterion, and is contrasted with homogamy for a marriage or union between partners that match according to that criterion. Heterogamy and homogamy are also used to describe marriage or union between people of unlike and like sex (or gender) respectively. The last thing is The Reiss's Wheel Theory of Love is another interesting sociological theory proposed by Sociologist Ira Reiss and his associates.It was a theory that created research on the subject of love for decades. The Reiss's Wheel Theory of Love states that there are four stages of love which are: (1) rapport; (2) self-revelation; (3) mutual dependency; and (4) personality need fulfillment. Stage 1 people build a rapport with each other that may cause a spark. Stage 2 is the self revelation stage that helps couples grow closer. Stage 3 a couple becomes closer and more intimate to each other.Stage 4 is the last stage, if couples develop this stage they will begin to experience personality nee fulfillment. Partners will start to confide with each other. In every section communication is a key point to having a strong open relationship. There are new listening skills, learn how to trust and keep the relationship open and honest. Wh ether you use verbal or non-verbal communication to express how you feel. Communication will bill build a stronger relation ship.

Ansoffs Product Market Expansion Grid Making Tool

Ansoffs Product Market Expansion Grid Making Tool Strategy plays a huge role in a business’s success or failure. A strategy has to be chosen in accordance to a company’s vision, mission, goals and objectives. One of the major decisions that today’s marketing managers have to take is to follow what strategy and when is the right time to implement the strategy. With the ever-increasing competition in the market, along with the continually changing customer interests, it has become difficult for managers to decide upon a strategy which can ensure a substantial amount of success, even if steps are taken carefully. The more than ever informed customers are also forcing managers to change on a regular basis. This report explains the basic fundamentals of Ansoff’s Product Market Expansion Grid and the four strategies that can be deployed after using the grid. The grid can be used to predict any growth opportunities that may exist in the market for the company to expand its business, either in terms of market or in terms of products. Based on the strategy indicated to by the grid, the managers can decide on further actions which should be taken to be more profitable. The later phase of the report describes how Etisalat, the United Arab Emirates telecom giant, entered the Nigerian market in the fifth place and still were able to penetrate the market deeply within a significant small amount of time. The managers could successfully learn from their experiences in the Egyptian market they had entered before embarking their journey of Nigeria, and that proved to be very helpful. The report also discusses the various promotions that were undertaken by Etisalat and the reason those promotions were chosen. The report emphasises on the importance of research and using the findings of the same to enhance business profitability and success. Introduction With the ever-changing lifestyles of customers in the contemporary world, businesses have realised the importance of customers in the success or fail ure of the organization. To get along with the changing business environment and customer interests, companies are transforming themselves. Today, customers are ruling the business practices and telling the companies about the type of products and services that they desire. As a result, companies have also transformed from being product oriented to being customer oriented. They are now focusing on customers, tracking them, collecting personal information about them, which would help them to understand them better and provide customized offers. Bottomline: customer is the king. One of the main reasons for this is the fierce competition existing in the markets in which these businesses operate. With the on-going changes in the organizational practices, there resides the need to revive the strategies that a company work upon, of which marketing forms a major part. Good marketing has evolved to be vital component for any successful business. It needs careful planning and execution. To i ncrease the probability that a business will succeed, companies are continually revamping and reforming their marketing practices. One of the tools helping the companies to refine their business practices is the Product-Market Expansion grid, proposed by Ansoff, to detect new intensive growth opportunities.

Leibniz and the Baroque Essay Example | Topics and Well Written Essays - 2000 words

Leibniz and the Baroque - Essay Example Deleuze finds the existence of soul in body; however, since there is no way for the exiting of the same, he justifies the statements made by his predecessor philosophers’ opinions regarding the place of the soul in upper dark chamber of the body, diversified by folds, i.e. the mind. Deleuze also cites Focillon, where he submits to state that the latter viewed Baroque Gothic as the birth of the mystical experience, which is actually the long voyage of the soul within various parts of the vast and endless universe. Hence, body remains confined to one specific zone or area, where it is actually present, while soul seeks no limits and boundaries for travelling and can reach everywhere it wants to move. On the contrary, body remains silent to some extent, and requires permissions and efforts in order to change its place. Deleuze declares Leibniz as the first philosopher to define and elucidate the mystical and mathematical dimensions in his work. He also states that the world is ma de up of monads and divergent series, which can be compared to the folds. Consequently, it can be examined by keeping in view the infinity of pleats and creases of unified and dispersed matter. Deleuze has also discussed plastic forces in an analytical manner by presenting the examples of organism or living matter, where artificial is always inferior to the real one. It is because of the very fact that plastic cannot perform altogether in such a way as the living matter, though it is more machinelike than mechanical. (Deleuze, 8) He further explains Leibniz’s folding and unfolding theory, which defines the organism’s ability to fold and unfold its parts to a degree of assignment or the scale of capacity attributed to each and every species at large. Hume’s Views on Religion Norton (1993) has critically evaluated Hume’s views on faith and religion in his works. Hume has provided his in-depth views on God, morality, natural belief and others in his Natural History of Religion (1757). He appears to be criticizing the blind imitation of the religious systems, and seeks for the philosophical interpretation of the Scriptures and belief system, so that religious dogmatism could be revealed in its true sense. His severe disparagement of conventional religious practices not only invited the wrath of the Catholic Church, but also caused controversial debate about his actual opinion on following the real Christian teachings. Consequently, he was blamed to be an atheist as well as the rebel of Christian faith. It is therefore Norton finds

ODiscussion Board reply Coursework Example | Topics and Well Written Essays - 250 words - 1

ODiscussion Board reply - Coursework Example Even though an increase in minimum wage produces positive effects on businesses in the form of increased demand, conventional macroeconomic modeling indicates that it is likely to reduce GDP and eliminate hundreds of thousands of jobs. Therefore, Equal Pay Act of 1963 is the best tool to increase the level of gender equality. The government must ensure that women are motivated to pursue highly rewarding careers by offering them sufficient incentives. This is done by ensuring fairness to the hardworking Americans particularly women. We must constantly work hard to help the weak and the poor by making sure the Equal pay Act of 1963 is adhered to because helps in availing certain positions to the less disadvantaged. For instance, it has had important effects on the nature of the US human resource due to the fact that women nowadays hold positions that they never held (Reskin & Bielby, 2005). On the other hand, the Paycheck Fairness Act should be implemented to help reduce the huge wage differences across gender in the

Indians and Indian Policy Essay Example | Topics and Well Written Essays - 1000 words

Indians and Indian Policy - Essay Example Vince Deloria in his narrative highlights the issues of leadership and preservation of the Indian culture. Vince Deloria was a well known professor, leader and advocate for the Indian rights and cultural recognition. Deloria was a Standing Rock Sioux and he experienced firsthand the effect of government policies on the lives of native Indians. He wrote his narrative during his period as a professor and advocate of the native Indian rights. In the period between 1970 and 80, the Indian population experienced tremendous population growth that was not understood. Immediately after the Second World War, the Indian people were given opportunities to be economically empowered through the Indian Re-organization Act. However, this did not endear other races and people to identify with the Indian race since other people enjoyed better services and economic benefits. During this period Indians felt no sense of personal worth in propagating their culture or sense of identity (Calloway 567). Del oria however explains that this trend started to change in the 1980’s when people wanted to be recognized as Indians whether it was to gain educational or economical benefits. But this was the reason that endeared other races to becoming whites but it was the religious practice of the native Indians that made many white people to associate with the Indian culture. ... However, Deloria delivers the message that native Indians can only solve their problems through use of the culture since they understand their problems better than other people. Native Indians have suffered the problem of genuine leadership which contributed to Indian discrimination. As a result, it is a high time for Indians to recall their culture and chase away imposters who do not understand Indian culture or problems as advocated by Deloria (Calloway, p.571). On the other hand, Wilma Mankiller was the first woman Cherokee chief narrates her experiences as the chief of a native Indian tribe. In her story she highlights the challenges that the Cherokee people faced in living their lives normally in a country they were considered as minority ethnic group. Her early life prepared her for the role she was to engage in as a political leader among the Cherokee people. The lacklustre governmental policies gave her motivation to campaign and fight for the recognition of native Indian rig hts. Wilma wrote her stories so that she could share with future native Indians her story especially to the Indian women. Wilma wrote her narrative during a period when native Indians were enjoying recognition from other people especially the majority white population in the US (Calloway 573). It was during this period that Indian tribes were given the opportunity to choose their own leaders who could manage their own affairs. The change in government policy and the new policy changes that recognized Indians gave an opportunity for Indian tribes to govern their own affairs. Moreover, Indians were now educated and were better placed to manage their own affairs as elucidated by Wilma. The narrative told by Wilma is in fact true based on the real events that occurred

More and More Children Now Spend Most of Their Free Time Locked Away Essay

More and More Children Now Spend Most of Their Free Time Locked Away Playing Games - Essay Example This report approves that the society needs to perform its moral duty by keeping a check on the children. The compressed and restricted life of the modern world makes the adults hostile towards the kids. Children need to explore their physical abilities for which society needs to be lenient towards them. Modern technology gives us a lot of benefits but at the same time it has to pass through the criticism from every walk of life. People especially adults always admire the time they have spent without realizing that it had its own vices. This essay makes a conclusion that parents must accompany their children at the time of purchasing the games. They must look into the content of the game and see if it is suitable for their child or not. Healthy and educational games must be encouraged among children for their healthy growth. At the same time parents should keep a check on the duration of the play. Children must not be allowed to play games for a longer period. Rules must be set down regarding this issue and children should be made to realize the fact that it is actually good for their own health. To conclude it does appear that there is a link between uncontrolled use of video games and the anti social behavior of children. However, if the whole society including the policy makers, game makers, neighbors, schools and parents jointly combines in the effort to modify their children into healthy adults there is no chance technology like video games could have a negative impact on the lives of children. Every one needs to understand his role in the circle for a healthy future.

Managing People and Organisations Essay Example | Topics and Well Written Essays - 2500 words

Managing People and Organisations - Essay Example It can change, it can grow and it can develop into something which is larger than the organisation itself. The literature on company cultures as well as other examples from companies such as GE and Apple shows us that having a strong culture is a good thing only if the culture is positive and leads to the objectives of the company being met. In a situation where the culture is strongly negative the environment can become toxic and the symptoms mentioned in the case certainly point towards that happening in Gillman Autos. Things such as shiftitus, covering ass and passing the buck are perfect signs of a negative culture and the stronger it is the worse off a company would be. For the company itself, it seems that the culture is certainly a result of the 2x4 management style. As per the literature on company culture, the formation of the culture depends on the leadership of the company (Gardner, 1995) and the present situation as described for Gillman Autos is simply a result of their ineffective management system. The controls which should have been in place to prevent this from happening seem to have been ignored altogether. Without effective control, a company will end up with bad leadership and a bad leader will not only bring down his/her own output but also of those who fulfil the role of subordinates (Armstrong, 1999). Culture, social responsibility, ethics and the work environment all flow from the leadership of a company. This was realised by GE when the company saw high turnover in their international communications department and even though the department was not one of the primary departments of the company, significant junior level turnover caused the senior managers to get worried. After making some inquires and revaluations of exit interviews, the company discovered that a line manager was causing problems for others by creating a negative culture within the department. The department could not be made productive until that manager

Responses from DQ1 andDQ@ CC and AAw2d2 1 and 2 Assignment

Responses from DQ1 andDQ@ CC and AAw2d2 1 and 2 - Assignment Example It does also not protect junior employees from manipulation by their seniors. The act is therefore more concerned with accurate financial reporting of corporations to the Securities and Exchange Commission. A spot check on the act shows that it only affects external auditors, boards of directors, corporate roles, and the PCAOB in a move to heighten investor confidence in the organizations (Halbert, 2010). It is exceptionally true that corporate employees fear losing their jobs if they decided to talk about illegal activities in their organizations. However, employees have of late been enlightened of their rights incase of unjustified work termination. According to Cox (2009), the Sarbanes-Oxley act (2002) is exceptionally clear on the responsibilities of senior executives regarding their roles in their respective organizations. Of importance to the executive is giving truthful financial information to the Securities and Exchange Commission and this is his or her duty to loyalty towards the organization, and to some extent, duty to care (Harris, 2003). The Sarbanes-Oxley act also protects the corporations from executive malpractices; therefore, external auditors and PCAOB are mandated to check any irregularities that may arise from senior corporate executives. It is therefore very much agreeable that the Sarbanes-Oxley act has helped streamline corporations that are prone to

Supply Chain and Operations Management Assignment - 1

Supply Chain and Operations Management - Assignment Example According to the AIMS' Institute of Supply Chain Management, it is a management of a global network used to deliver products and services from raw materials to end customers through an engineered flow of information, physical distribution, and cash.Supply Chain Management (SCM) is the management of the relationship between the supplier's supplier and the customer's customer through the supply chain participants (Distributor/Wholesaler and Retailer) between them, mainly using information flow and logistics activities to gain Competitive advantage and customer satisfaction.A supply chain, as opposed to supply chain management, is a set of organizations directly linked by one or more upstream and downstream flows of products, services, finances, or information from a source to a customer. Supply chain management is the management of such a chain.[7]In many cases the supply chain includes the collection of goods after consumer use for recycling. SCM is a cross-functional approach that in cludes managing the movement of raw materials into an organization, certain aspects of the internal processing of materials into finished goods, and the movement of finished goods out of the organization and toward the end consumer. As organizations strive to focus on core competencies and becoming more flexible, they reduce their ownership of raw materials sources and distribution channels. These functions are increasingly being outsourced to other firms that can perform the activities better or more cost effectively.

Bonds and Their Valuation Mini-Case Essay Example for Free

Bonds and Their Valuation Mini-Case Essay Sam Strother and Shawna Tibbs are vice-presidents of Mutual of Seattle Insurance Company and co-directors of the companys pension fund management division. A major new client, the Northwestern Municipal Alliance, has requested that Mutual of Seattle present an investment seminar to the mayors of the represented cities, and Strother and Tibbs, who will make the actual presentation, have asked you to help them by answering the following questions. Because the Boeing Company operates in one of the leagues cities, you are to work Boeing into the presentation. a.What are the key features of a bond? Answer: 1.Par or face value. We generally assume a $1,000 par value, but par can be anything, and often $5,000 or more is used. With registered bonds, which is what are issued today, if you bought $50,000 worth, that amount would appear on the certificate. 2.Coupon rate. The dollar coupon is the rent on the money borrowed, which is generally the par value of the bond. The coupon rate is the annual interest payment divided by the par value, and it is generally set at the value of r on the day the bond is issued. 3.Maturity. This is the number of years until the bond matures and the issuer must repay the loan (return the par value). 4.Issue date. This is the date the bonds were issued. 5.Default risk is inherent in all bonds except treasury bondswill the issuer have the cash to make the promised payments? Bonds are rated from AAA to D, and the lower the rating the riskier the bond, the higher its default risk premium, and, consequently, the higher its required rate of return.

Harvard Case Study Analysis Essay Example for Free

Harvard Case Study Analysis Essay What is an ANALYSIS? analysis Function: noun Inflected Form(s): plural analy ·ses \- s z\ Etymology: New Latin, from Greek, from analyein to dissolve (from ana- + lyein to loosen, dissolve) + -sis -1 : separation or breaking up of a whole into its fundamental elements or component parts 2 a : a detailed examination of anything complex (as a novel, an organization, a race) made in order to understand its nature or to determine its essential features : a thorough study b : the presentation, usually in writing, of such an analysis Merriam-Webster Unabridged Dictionary Case Studies: How they work YOU ARE THE MANAGER. Read carefully Perform Analysis Come up with recommendations Analysis: Thought Process Questions Break up Details matter! †¢ What problem are we trying to solve? †¢ What are the main problems? †¢ Break up the whole story into parts †¢ Analyze what’s important †¢ Do detailed examination †¢ Determine essential features 4 The Process of Building a Marketing Plan Step 1: Situation Analysis Step 2: Step 3: Step 4: SWOT Analysis Problem Identification Solutions Recommendation/ Evaluation Step 1: Situation Analysis †¢ Evaluation of an organization’s current situation, opportunities, and problems. Ask Yourself: †¢ What is going on? †¢ Who is the company? †¢ What is the company’s background? †¢ What industry are they part of? Step 1: Situation Analysis The Five C’s Customer Needs What needs do we seek to satisfy? Company Skills Competition Collaborators What special competence do we possess to meet those needs? Who competes with us in meeting those needs? Who should we enlist to help us and how do we motivate them? Context What cultural, technological and legal factors limit the possible? Applying the Marketing Mix to a Target Market †¢Is there current price competitive? †¢Are they distributing their product? †¢Any current problems with their product? †¢Are they running promotions to increase sales? †¢Are the promotions hurting sales? 8 Step 2: SWOT Analysis Internal Strengths Things that are good now, maintain them, build on them and use as leverage Weaknesses Things that are bad now, remedy, change or stop them. Opportunities Things that are good for the future, prioritize them, capture them, build on them and optimize Threats Things that are bad for the future, put in plans to manage them or counter them External 9 Step 3: Problem/Decision Statement Identification of the main problem, opportunity Ex: †¢ †¢ †¢ †¢ Does the company have declining sales? Are the promotions hurting sales? Should the company fire employees? Is the company spending too much money on promotions 0r advertising? Step 4: Solutions/Recomendations What are you going to do about the problem? What are the alternative choices into solving the company’s problem? Ex: If the problem is declining sales due to the current economic situation†¦ Run promotions Offer benefit programs Offer rewards for purchase Strategic Market Planning Process Components of Case Analysis †¢ †¢ †¢ †¢ †¢ Background Problem Identification Statement of Objective(s) Situation Analysis Description and Evaluation of Alternatives Conclusions/Recommendations 13 End.

Critical Analysis Of Research Design And Data Collection Management Essay

Critical Analysis Of Research Design And Data Collection Management Essay The purpose of this assignment is to offer a critical analysis of the underpinning assumptions and research design and data collection strategies and the practice of academic research. Two research papers are chosen for the purpose of this analysis. The first paper is a quantitative study and the second paper is a qualitative study. They are as follows:- Shafer, W. E., Fukukawa, K. and Lee, G. M. (2007) Values and the perceived importance of ethics and social responsibility: The U.S. versus China, Journal of Business Ethics, 70 (3), pp. 265-284. Tsoi, J. (2007) Stakeholders perceptions and future scenarios to improve corporate social responsibility in Hong Kong and Mainland China, Journal of Business Ethics, pp. 1-14. The main reason for selecting these two papers is that they both report upon the area of corporate social responsibility, which is the focus of my PhD. Within the field of corporate social responsibility (CSR), there has been considerable research discussing the relationship between values and perception with the attitude/behaviour of businesses towards CSR. These values are considered quantifiable and thus have been measured quantitatively using scales developed by authors such as Forsyth (1980), Singhapakdi et al. (1996), and Vitell and Patwardhan (2008). Interviews have been used to bring forward the values that are deemed important by stakeholders, and were explored qualitatively by Fukukawa and Teramoto (2009), Siltaoja (2006), and Là ¤hdesmà ¤ki and Siltaoja (2009). The two papers selected both looked at cross-cultural values and perceptions, however, they utilise different methods of investigation. This difference could provide a good basis for comparison, in terms of philosophical assumptions, research design, and the method of data collection. The analyses will begin for each paper with an introduction of the research aims, followed by the epistemological and ontological position, the research design, followed by analysis of its research methodology, the alternative research design and lastly, conclusions from this discussion will be provided. Review of Quantitative Research paper 2.1 Research Objectives This study by Shafer, Fukukawa and Lee (2007) examined the values and the perceived importance of ethics and social responsibility on managers from China and the U.S. The authors used scales instruments to obtain quantitative data in order to make inferences on whether the managers nationality and personal values have effect on their ethical perception. The American and Chinese managers are assumed to differ in their personal values and subsequently this should be reflected from their responses to the Perceived Role of Ethics and Social Responsibility (PRESOR) scale. The authors provided the relevant background information and built up the reasoning for their hypotheses. The first hypothesis was that managers from China would believe less strongly than American managers in the importance of ethically and socially responsible conduct to achieve organisational success. The second hypothesis was that both American and Chinese managers personal values are believed to have significant impact on the responses to the scale. These hypotheses seem to correlate strongly with the research objectives which are to determine that there is variation in response due to cultural differences. 2.2 Epistemological and Ontological Assumptions It is likely that the authors based their research on moral philosophy which refers in particular to the principles of rules that people use to decide what is right or wrong (Ferrell, Fraedrich and Ferrell, 2005:19). This paper seems to indicate that the principles of rules of managers of different cultures are likely to differ and thus ethical decision-making would vary. The authors provided examples of other empirical research to support this notion. The assumption that personal values can influence ethical decisions shows that the research is likely to infer an ontological assumption of realist, whereby reality is seen to have an existence independent of the activities of the human observer (Blaikie, 2007:13). As the research strives to compare values and perceptions, these elements are thought to be measurable and quantifiable; seemingly leaning towards the empiricism position in which the key idea is that knowledge comes from observing the world (Blaikie, 2007:19). The authors e mployed deductive research whereby the hypotheses formed are tested to determine if the statements can be supported (Sekaran, 2003:31), which is a typical research approach of empiricists. Taking possibly the stance of positivists, these values are assumed measureable, and are thus thought to form the social reality that these values affect the perception of corporate social responsibility amongst the managers from these two countries. 2.3 Research Design The intention is to establish the differences in personal values, by using large quantities of data, which would be representative of the overall population of American and Chinese managers. This suggests that there are two assumptions, that values are measureable and that it is possible to generalise the population from the sample. In order to generalise, a considerably large amount of data is required, thus a survey research instrument was employed. The PRESOR scale developed by Singhapakdi et al. (1995) was used. The reasons that the PRESOR scale was chosen over the cultural dimensions formed by Hofstede (2001) were argued; examples of the latter in other research were shown to be inconsistent and inconclusive in its directional impact, thus making theoretical predictions difficult. The use of PRESOR scale in other research was exemplified and seemed to have established the reliability of its measurement. The PRESOR scale was explained further in the introduction of the paper. Thirteen out of sixteen original items were selected and the authors justified this by stating that only these thirteen items had significant factor loadings in the Singhapakdi, Scott and Franke (1999:25) study. These items were grouped into two categories; the Stockholder and the Stakeholder views. The Stakeholder View reflects the importance of ethics and social responsibility to organisational survival and success, whilst the Stockholder view indicates that organisational success depends on more than just profitability and obligations to the stockholders (Axinn et al., 2004:104) In the methodology section, the Schwartz value instrument and a demographic questionnaire were mentioned as being used together with the PRESOR scale. There was little mention of the reasons the Schwartz scale was used and how it was applied. It was only later in the appendix that the items considered in the Schwartz scale was provided in details. A clearer explanation could have improved the clarity of the paper. The research design employed the use of two research instruments (PRESOR scale and Schwartz value instrument) as means for data collection. The sample of practising managers from the two different countries was given the same survey to complete, thus the responses could be compared on that basis. The results from the analyses were then compared against the hypotheses formed, affirming or not affirming the hypotheses. This process is typical of the deductive approach (Blaikie, 2007:70). 2.4 Data Collection The sample consisted of 311 practising managers, enrolled part time in selective MBA programmes in the U.S. and China. The participation was voluntary and the scales were completed as an in-class exercise. The authors acknowledged potential problems from this sample selection. The first is that, although the MBA programmes in these two countries appear to be comparable, the sample may have confounded the effects of national differences and MBA programme differences. Secondly, the sample was not randomly selected as the authors had asked their students to complete the scales in-class. The authors did not provide further justification for these two problems and thus this is believed to have weakened the external validity of this investigation (Bryman and Bell, 2007:204). Aside from this comment from the authors, there was very little mention of the validity of the measurement which makes it difficult to make further discussion on this. The basis of their selectivity and the criteria in which these programmes were said to be comparable, were also not provided in details. The details of its comparability may have helped clarify and strengthen the validity of the selection criteria, as well as making the paper more understandable. Considering the objectives of the research, in which the authors seem to be looking at making generalisations on the affect of personal values, there is a need to collect large quantities of data. The survey method seems to be appropriate as surveys are easy to distribute to large number of people and costs can be kept to a minimum (Bryman and Bell, 2007:195). This relates to external validity, which is about generalisability of results beyond the focal study (Easterby-Smith et al., 2008:87). In this paper, external validity was not discussed; however, it is likely that the results are meant to be applicable for the context of China and the U.S. only. The authors stated the limitation of which the participants can not be assumed as representative of the broader populations of managers in these two countries, due to the fact that the MBA programmes were selective in nature. The research took consideration of the possibility that the age and experience differences of their sample might affect the results, and thus these factors were examined for significance. The scale was translated to Mandarin Chinese and later back-translated with resolution of discrepancies, to take account of the language difference. These examples seem to reflect on the effort of the authors in ensuring that the results are not significantly affected by other variables. In order to test the dimensionality of the PRESOR scale, a principal components factor analysis with varimax rotation and Kaiser normalisation was applied. This is typical of a quantitative study where factor analysis is usually applied as part of the research design. In terms of research replication, this research had provided considerable amount of information which would possibly allow other researchers to perform similar research. The items from the two views (Stockholder and Stakeholder) of the PRESOR scale were provided in details. In addition, the authors also mentioned the calculation method used, such as the use of mean values and the Univariate Analysis of Covariance models (ANCOVA). The only exception would probably be the PRESOR scale itself, whereby the questions that were asked and the choice answers were not explicitly given, which might mean that future researchers might find it difficult to replicate the research and might even have to approach the authors or Singhapakdi who developed the scale. 2.5 Alternative Method The authors mentioned that more in-depth examination using qualitative design of investigation such as interviews would perhaps be more revealing. It is agreed that qualitative measure would allow insights into the importance of ethics to managers, and the various ethical issues that managers prioritise. The researchers are more likely to obtain a richer data of the decision-making process of managers, at the same time; they would be able to achieve the research objectives. The researchers can make use of semi-structured type interview which will allow better control of what questions need to be asked, and to ensure that the objectives of the interview are achieved as well (Bryman and Bell, 2007:474), if time and costs are constraints. There are also other alternatives methods to obtain qualitative data that would have fit this research, such as the use of focus groups. Focus group interviews allow researchers to observe the behaviour of the American and Chinese managers as they interact with each other. It would be possible to see the differences in reaction to ethical issues much more clearly, when these managers are given, for example, the same ethical dilemma, and they are required to rationalise the problem and come up with solutions. This method might be more useful than questionnaire surveys, particularly in that the values of the American and Chinese managers could be brought out through the way they respond and react to ethical problems, the problem-rationalisation process, and the degree of attention paid on a particular problem. Similar to the interview method, this would be considerably more costly to conduct, and it might even be more costly than doing interviews, however, the researchers would gain no t only in achieving the research objectives but they would also attain a better understanding of the effects of personal values in ethical decision-making. However, if the goal was only to establish that perception of CSR differs between diverse cultures, the research design would have fit the purpose. This is because the data collection strategy used (questionnaire survey), allowed the authors to obtain considerably response for generalisation. A questionnaire survey would also have been more cost-efficient and less time consuming, especially for cross-cultural studies. Review of Qualitative Research paper 3.1 Research Objectives In this second paper, this qualitative study aims to make apparent the perceptions and views of the future scenarios from stakeholders within the garment industry in Hong Kong and Mainland China. The underlying intention was to seek consensus and common ground, on a local and regional level to help companies develop an appropriate CSR strategy, to improve the state of corporate social responsibility and in the long run, to achieve sustainability in the region. The main objective was stated as by engaging with major stakeholders, to identify the local and regional supply chain stakeholders perceptions and expectations (Tsoi, 2007:1). Typical of a qualitative study, generalisation is often not the objective of the study (Bryman and Bell, 2007:410). This is apparent from this study as the author had mentioned that the sample may not be sufficient for generalisation for the entire garment industry, however, it is relevant to garment businesses involved in export-orientated activities (Tsoi, 2007:1). Tsoi (2007) used an inductive approach to identify the perceptions of stakeholders by conducting interviews. 3.2 Epistemological and Ontological Assumptions Although the author did not indicate the philosophical assumptions behind this study, the author implied that by identifying the stakeholders perception, the findings would help in building consensus, strengthening the implementation, and establishing future CSR framework. This suggests that the author has an ontological position of constructionism, which asserts that social phenomena and their meanings are continually being accomplished by social actors, implying that there exists social interaction and that there is a constant state of revision of the social phenomena (Bryman and Bell, 2007:23). In this case study, the social reality of what is happening in the garment industry, in terms of its corporate social responsibility, is a social reality that was formed by the stakeholders. It suggests that the social phenomena (condition of CSR) can undergo changes, and that it is dependent on the activities of the social actors. The views of the social actors are thought to be indicative of the important issues in corporate social responsibility, within the garment industry. This form of research is consistent with the research paradigm of the interpretivist position, as the basis of the research is that the study of the phenomena requires an understanding of the social world that social actors have constructed and which they reproduced through their continuing activities (Blaikie, 2007:124). In this instance, the stakeholders are the social actors who will continually interpret and reinterpreting their social world which can be the garment industry. The social phenomenon that the author is investigating is the current state and the future of the corporate social responsibility in Hong Kong and Mainland China. The future conception of CSR in these two places is related to phenomenology, whereby, it concerns with the question of how individuals make sense of the world around them (Bryman and Bell, 2007:18). In this case, it can be viewed as the way stakeholders make sense of the state of corporate responsibility in the region. 3.3 Research Design The author relied on a qualitative method, specifically, the face-to-face semi-structured interview, which indicates the leanings of the author in conducting a naturalistic inquiry in real-world rather than experimental or manipulated settings (Ritchie and Lewis, 2003:4). For qualitative studies, semi-structured and unstructured interviews are commonly used as they provide rich, detailed answers and taps into the interviewees point of view (Bryman and Bell, 2007:474). As the focal source of data was the stakeholders themselves in this study, this seems to infer that the research design is based on the interpretivist view that the social phenomena can only be understood and be investigated from the inside (Blaikie, 2007:125). The author identified major stakeholders possibly with stakeholder theory, stating the assumption that multinationals see stakeholder consultation and management as an important communication tool in identifying and interpreting the needs of salient stakeholders and as such would enable the development of a common language for CSR and subsequently the development of proactive CSR strategies. This correlates with the stakeholder approach of Wheeler et al. (2003:19) who stated that value creation at the highest level requires an ability to build value-based networks where all stakeholders see merit in their association with and support for a business. In this instance, it is likely that the stakeholders were deemed to be important in the future direction of CSR in the region, and this was the reason that stakeholders were chosen as source of data. The author mentioned that these interviews conducted in 2004 and 2005 may no longer be relevant, since there were major developments in 2008. This might have made the interviews slightly outdated however; there should not be many changes to the overall aims of the stakeholders and thus the outcomes of this research would remain valid. However, as an alternative, the author could have applied longitudinal design which represents a distinct form of research design than is typically used to map change in business and management research (Bryman and Bell, 2007:60). The longitudinal design would not only serve the purpose of this study, but it would also allow insights into the factors that cause change to the perception. With this sample, it is possible to use cohort study, whereby the cohort is made up of people who share a certain characteristics (Bryman and Bell, 2007:61), since the stakeholders have a stake in the garment industry. However, longitudinal research may require a lot mor e preparation, could be time-consuming and thus it could be more costly. 3.4 Data Collection With regards to the methodology, the interview questions that were used for this research was not provided. As this was a semi-structured interview, it would have been useful if the author had provided general information on how the questions were formed, and the structure of the interview questions as this would provide an indication of the depth of the interviews, and hence the validity of the research design. For the sample, 25 representatives from academia, the business organisations, the non-government organisations, trade association, and government officials were identified. The response rate was 84%, in which 21 out of a total of 25 representatives of these organisations agreed to be interviewed. It was mentioned that the reason for such a high response rate, was that the author had contacted the interviewees on a one-to-one basis. Furthermore, the interviewees were also guaranteed anonymity. The sample, thus, appears to be extensive and is representative of the various stakeholders that are vital in the garment industry. 3.5 Alternative Method The intention was that the findings would help in building consensus, strengthening the implementation and establishing the future CSR framework (Tsoi, 2007:1). The author might have meant that having collected all the different views from these stakeholders, the author would be able to determine the consensus of how CSR should be developed and how CSR should be like in the future. However, it is doubtful that a consensus could have been obtained using this method of analysis. The interviewees, although were representative of the garment industry, each one a vital stakeholder, there was no real interaction between these stakeholders, and thus, the consensus that is meant is only based on the researchers understanding from the interviewees responses. Stakeholders are thought to be able to reach a better compromise through discourse, with different sides arguing for the validity of their point as well as ensuring that the interests of the group or association that they represent are ta ken account of (Bryman and Bell, 2007:511). While it is understandable, that there is a strong possibility that it could be costly to get all the interviewees to sit together through a discourse, nevertheless there are alternatives which might be more useful for the purpose of this investigation, given that the objective is to reach a consensus amongst the stakeholders. With this reasoning, the research design could improve by firstly conveying the findings of the interviews to all of the stakeholders interviewed, and follow up with another interview to see if there were changes to their views. Alternatively, the author could use the method of focus group interviews. With this method, Merton et al. (1956) (in Bryman and Bell, 2007:511) stated that the accent is upon interaction within the group and the joint construction of meaning. Focus group interviews could provide a platform for the interviewees to interact and to establish a joint construction of what it means to strengthen CSR and also determine what future scenarios should and could be like. With regards to selecting a suitable size for the focus group, it is recommended by Bryman and Bell (2007:517) that the typical group size should be six to ten members, whilst Sekaran (2003:220) recommends a size of eight to twelve members. The reason that the focus group interview method was recommended was that the interviewees would be encouraged to express their opinions argumentatively, which would then allow the researcher to gauge the degree of importance of certain issues and how much flexibility the interviewees might h ave to reach a compromise with others. There are of course possible pitfalls using the focus group method, in that some interviewees might be dominant over others, and thus the opinions of those less dominant might not be heard, but these effects can be reduced to a minimum level by having a good moderator (in Bryman and Bell, 2007:511). The one-to-one interview method could still be more advantageous compared with the focus group interview, as the time and monetary costs of conducting a one-to-one interview would probably be considerably less and thus be more manageable especially if there was only one researcher, as was with this case study. In this case study, it seemed that a quantitative design would actually be difficult to apply, and it would also be inappropriate for an investigation on the perception of CSR as a business concern. Taking the example of using a questionnaire survey with closed-ended questions, it is very likely that the respondents would answer that they are very concerned about CSR, as that might be perceived as the correct response, thus creating social desirability bias to the results. Furthermore, with a questionnaire survey, the researcher would not be able to pin-point all the various future scenarios for CSR in Hong Kong and Mainland China, even if it was possible, the list of future scenarios might be too long to be practically manageable. Another issue would be that in making assumptions of the future scenarios that are deemed significant to the stakeholders, it would be problematic as the researcher might risk missing out relevant information. Therefore, it would be difficult, from these r easons, that a quantitative design would not be suitable for such a case study. Conclusions In summary, the two papers reflect significant differences in their research approach. This was seen through the objectives of the research, the underlying assumptions of the research philosophy and the conceptualisation of research design and the data collection. There is certainly much to learn from these two research papers, both had given valuable information on the differences between quantitative and qualitative methods, as well as offer guidance on the selection of research method and how to go about utilising these methods. The research designs, as shown in these papers, are dependent of the research objectives and the designs are also influenced by the epistemological and ontological assumptions made. Even though the philosophical positions of the researchers were not made explicit, however, the likely positions can be assumed. These papers have also shown that the advantages and the disadvantages of the different methods of investigation, and they need to be considered to e nsure that the best method is chosen for the purpose of the research. In these two papers, the method of investigation is distinct, one was a qualitative study and the other was a quantitative study, however, this does not necessarily mean that a mixed method of investigation can not be used. In fact, (Bryman and Bell, 2007:646) suggested that triangulation can be applied, in which the results of an investigation employing a method associated with one research strategy are cross-checked against the results of using a method associated with the other research strategy. Bibliography Axinn, C. N., Blair, M. E., Heorhiadi, A. and Thach, S. V. (2004) Comparing ethical ideologies across cultures, Journal of Business Ethics, 54 (2), pp. 103-119. Blaikie, N. (2007) Approaches to social enquiry: advancing knowledge. Polity Pr. Bryman, A. and Bell, E. (2007) Business research methods. Oxford University Press, USA. Easterby-Smith, M., Thorpe, R., Jackson, P. and Easterby-Smith, M. (2008) Management research. 3rd edn. London: Sage. Ferrell, O., Fraedrich, J. and Ferrell, L. (2005) Business ethics: Ethical decision making and cases, Boston: MA, . Forsyth, D. R. (1980) A taxonomy of ethical ideologies, Journal of Personality and Social Psychology, 39 (1), pp. 175-184. Fukukawa, K. and Teramoto, Y. (2009) Understanding japanese CSR: The reflections of managers in the field of global operations, Journal of Business Ethics, 85 pp. 133-146. Hofstede, G. (2001) Cultures consequences: Comparing values, behaviors, institutions, and organizations across nations. Sage Pubns. Là ¤hdesmà ¤ki, M. and Siltaoja, M. (2009) Towards a variety of Meanings-Multiple representations of reputation in the small business context, British Journal of Management, 9999 (9999), pp. 1-16. Ritchie, J. and Lewis, J. (2003) Qualitative research practice : a guide for social science students and researchers. London: Sage Publications. Sekaran, U. (2003) Research methods for business : a skill-building approach. 4th edn. New York: Wiley. Shafer, W. E., Fukukawa, K. and Lee, G. M. (2007) Values and the perceived importance of ethics and social responsibility: The U.S. versus china, Journal of Business Ethics, 70 (3), pp. 265-284. Siltaoja, M. E. (2006) Value priorities as combining core factors between CSR and reputation-a qualitative study, Journal of Business Ethics, 68 (1), pp. 91-111. Singhapakdi, A., Kraft, K. L., Vitell, S. J. and Rallapalli, K. C. (1995) The perceived importance of ethics and social responsibility on organizational effectiveness: A survey of marketers, Academy of Marketing Science.Journal, 23 (1), pp. 49-56. Singhapakdi, A., Vitell, S. J. and Franke, G. R. (1999) Antecedents, consequences, and mediating effects of perceived moral intensity and personal moral philosophies, Academy of Marketing Science.Journal, 27 (1), pp. 19-36. Singhapakdi, A., Vitell, S. J., Rallapalli, K. C. and Kraft, K. L. (1996) The perceived role of ethics and social responsibility: A scale development, Journal of Business Ethics, 15 (11), pp. 1131-1140. Tsoi, J. (2007) Stakeholders perceptions and future scenarios to improve corporate social responsibility in hong kong and mainland china, Journal of Business Ethics, pp. 1-14. Vitell, S. and Patwardhan, A. (2008) The role of moral intensity and moral philosophy in ethical decision making: A cross-cultural comparison of china and the european union, Business Ethics, 17 (2), pp. 196-209. Wheeler, D., Colbert, B. and Freeman, R. E. (2003) Focusing on value: Reconciling corporate social responsibility, sustainability and a stakeholder approach in a network world, Journal of General Management, 28 (3), pp. 1.

Riding The Train Essay -- essays research papers

Riding the Train (Description Essay ENC1101) Anytime a person experiences something for the first time, that experience can reside in their mind forever. Their first kiss, first love, and first look at the sunrise may permanently float among their cherished memories. My mind contains many of these memories. Although my first train ride occurred over 15 years ago, I still recall every wonderful detail from preparing for the trip to discovering the inside of the train and the beautiful five hour ride.   Ã‚  Ã‚  Ã‚  Ã‚  It was a breezy day in the summer of 1985 and after spending a week visiting my grandparent’s home in Sebring, Florida, I prepared for my first train ride home. Recalling many old movies I’ve watched with tearful lovers embracing on rain-soaked platforms, I carefully chose my train-riding outfit: a simple, tailored white dress, a pair of lace gloves reaching only to my wrists and a braided straw hat complete with a thick red sash tied neatly around the crown with an exploding bow draping down behind me. I settled into the back of my grandfathers Cadillac and my mind filled with visions of how my first train ride would be. Arriving at the station, I tearfully kissed my grandparents goodbye a bit more dramatically than necessary. As I strolled confidently towards the train platform, I felt like Audrey Hepburn or Ingrid Bergman and was quite certain many eyes rested upon my grace and followed me through the crowded terminal. Pushing open the heavy glas. ..

Dopamine, It Does a Body Good :: Biology Essays Research Papers

Dopamine, It Does a Body Good In class we have frequently discussed the I-function and how it relates to the body and the brain. Is the I-function a separate soul? Is it simply an extension of our DNA and genes? In addition, we have fretted over the I-function and its relationship to our behavior or personality. Where exactly the I-function is, we have also wondered. In this paper I will explore personality, the I-function and their relationship to genes and chemical changes that take place within the body. I will mainly look at how neurotransmitters affect overall happiness in an individual. How these chemicals are regulated by genes and by the environment, will also be questioned. Overall I will look at what makes us who we are. Are we simply programmed for life by our genes or do they even matter at all? While searching the web I found many good articles which explained how neurotransmitters affect personality. In some cases norepinepherin can encourage quick emotional responses like anger and also discourage logical thinking, while serotonin can cause irritability and a lack of rational emotion. All of them can cause anger, anxiety, depression, insecure feelings, and fear. To find out what the characteristics of personality are, I found another site appropriate. It lists 16 types of personality that are controlled by various combinations of 4 dimensions: extrovert vs. introvert, sensor vs. intuitive, thinker vs. feeler, and judger vs. perceiver. You can see how some of these could be determined by neurotransmitters. With happiness in particular, a group of psychologists describe it through the set-point idea. The set-point idea contends that there is a genetically determined mood level that can be nudged by life slightly upward or downward, but in the long run will stay about the same for each individual. Therefore, if you win the lottery or become a paraplegic, you will remain close to the same happiness level that you were always at. The 2 doctors say that about half of your sense of well being is determined by your set-point while the other by the sorrows and pleasures of life. By studying the activity in each prefrontal area, happiness and enthusiasm can be detected from worry and agitation. They tested 10 month old babies and then tracked them for several years and still found the measurements of their brain-wave patterns accurate. It was also discovered that an allele for part of the D4 receptor were related to the amount of

Americas War for Independence in the 1770s :: essays research papers

The Americans managed to achieve independence from one of the strongest military powers on earth, England, after 1777 because of their home field advantage, successful military operations, and need to be free to governor themselves. The first sign of America being able to gain independence was its victory at Saratoga, which then led them to gain alliance with the French. The British thought they should move their troops south because that’s where their loyalists were. Then a few wins for the U.S. led Cornwallis to go to Yorktown to wait for supplies from Clinton in New York. With help from the French, Washington was able to defeat the British at Yorktown, which led to America’s independence and the signing of the treaty of Paris 1783. The American Revolutionary War was a war between Great Britain and revolutionaries within thirteen British colonies, who declared their independence as the United States of America in 1776. The war was the culmination of the American Revolution, a colonial struggle against political and economic policies of the British Empire. The war eventually widened far beyond British North America, many Native Americans also fought on both sides of the conflict. The Declaration of Independence is the document in which the 13 states, formerly the Thirteen Colonies, in North America declared themselves independent of the Kingdom of Great Britain and explained their justifications for doing so. The Second Continental Congress ratified it on July 4, 1776. The British wanted to take control of the Hudson River Valley to cut off New England from the other colonies. So General Burgoyne with 7,700 troops approached Albany, New York, from Canada. On his way, Burgoyne defeated American forces at Fort Ticonderoga. More troops, led by Lieutenant Colonel St. Leger and General Howe were to join him to attack the American troops. Unfortunately for Burgoyne, St. Leger's troops were forced to retreat back to into Canada by Benedict Arnold and his American militia. General Howe's forces were fighting with Washington at the Battle of Brandywine and then the Battle of Germantown, which kept him from joining Burgoyne. General Burgoyne's forces attacked General Gates’ American forces at the Battle of Oriskany and at the Battle of Bennington but were driven back both times. General Burgoyne attacked American for his third time at the Battle of Saratoga. This time Burgoyne and his forces were defeated and General Burgoyne was forced to surrender. The Battle of Saratoga in July and October 1777 was an American victory that was to result in France entering the conflict on behalf of the Americans during the American Revolutionary War.

Mango Juice Marketting

A PROJECT REPORT ON â€Å"MARKET STUDY OF MANGO JUICE† IN â€Å"HINDUSTHAN COCA COLA BEVERAGES PVT. LTD† PROJECT REPORT SUBMITTED TO THE OSMANIA UNIVERSITY IN PARTIAL FULFILLMENT FOR THE AWARD OF THE DEGREE OF â€Å"MASTERS OF BUSINESS ADMINISTRATION† D E C L A R A T I O N I XXX student of Master of Business Management, XXX College, here by that the project report entitled â€Å"MARKET STUDY OF MANGO JUICE† Has been carried out at â€Å"Hindusthan Coca Cola Beverages Pvt. Ltd† submitted in partial fulfillment for the â€Å"Master’s Degree in Business Administration† in the result of my own work and is original.I have not submitted this project to any other university or college for the award of any other degree or Diploma. XXXX ACKNOWLEDGEMENTS I express my sense of profound gratitude to the Management of â€Å"Hindustan Coca cola Beverages Pvt. Ltd†, Ameenpur. For giving me this opportunity to conduct a study on Training and De velopment in their esteemed organization. My sincere thanks to XXXX (Human resource Manager), Hindustan coca cola bevarege Pvt. Ltd, Ameenpur. For permitting me to pursue this project. I would like to express my gratitude to XXXX (Sales Manager), Hindustan Coca cola Beverages Pvt. Ltd, Ameenpur.For providing his valuable time, suggestions and support for completing my project work successfully. I am extremely grateful to XXXX, Hindustan Coca cola Beverages Pvt. Ltd, Ameenpur. For his support during the preparation of the project report. His patience and invaluable guidance have proved to be very precious without which project would not be completed. I am thankful to our Principal XXXX. and also convey my thanks to our faculty members for their support. Lastly, I am indebted to the friends and will-wishers who have extended their support to me during the project. XXXX INDEX PAGE NO: CHAPTER-1 ? INTRODUCTION6-7 INDUSTRY PROFILE IN INDIA9-10 CHAPTER-2 ? NEED FOR THE STUDY12-13 ? SCOPE FOR THE STUDY15-17 ? OBJECTIVE OF THE STUDY19 ? RESEARCH METHODOLOGY21-24 ? LIMITATION OF THE STUDY26 CHAPTER-3 ? COMPANY PROFILE28-60 CHAPTER-4 ? DATA ANALYSIS AND INTERPRETATION63-73 CHAPTER-5 ? SUGGESTION75 ? CONCLUSION77 ? FINDINGS79 ? QUESTIONNAIRE 81-83 ? BIBLOGRAPHY85 INTRODUCTION INTRODUCTION Marketing in simple terms can be said to be â€Å"A human activity directed at satisfied needs and wants through an exchange process. † Marketing as a functional area of management is becoming extremely important as compared to other fields.All decisions in modern business organization revolve around information related with marketing decision making situations, which are characterized by Distribution Strategy, Channel members and Product decisions. The Product Decisions, customers assess a product’s value by looking at many factors including those that surround the product. In a constantly changing business and market scenario, maintaining the channel members becomes more challenging in such a situation only innovative technology, good product and committed people, accompany can take the lead over its competitors.Coca-cola ltd has differentiated itself from its competitors and providing the total â€Å"value for money† to its customers. Coca-cola ltd has integrated all the features to offer a value for its products. Value for the product and services refers to the quality of product and services offered to the customers. Several surrounding features can be directly influenced by channel members, such as customer service, delivery, and availability. Consequently, a channel partner involves a value analysis in the same way customers make purchase decisions.This area becomes the most important from the company as well as customer point of view. This helps the company to know better their customers and provide them with what they are expecting. Market: The set of all actual and potential buyers of a product or service. Marketing: A social and man agerial process whereby individuals and groups obtain what they need and want through creating and exchanging products and value with others. Marketing Management: The art and science of choosing target markets and building profitable relationships with them. Customer Satisfaction:The extent to which a product’s performance matches a buyer’s expectations. Marketing Mix: The set of controllable tactical marketing tools – product, price, place, and promotion – that the firm blends to produce the response it wants in the target market. Developing the marketing Mix: Once the company have decided on its overall competitive marketing strategy, it is ready to begin planning the details of the marketing mix, one of the major concepts in modern marketing. The marketing mix is the set of controllable, tactical marketing tools that the firm blends to produce the response it wants in the target market.INDUSTRY PROFILE INDUSTRY PROFILE IN INDIA OUR COUNTRY WITH APOPUL ATION OF 100 crores as on 2001. Is potentially one of the largest consumer market in the world the soft drinks market is the one among the various markets in India . Soft drinks is product, which the consumer purchases to quench his thirst, the secondary factor such as taste, hygienic conditions of storage and social status influenced the consumers purchasing decision. Soft Drink scenario in India: The soft drinks market till early 1990`s was in hands of domestic players like Campa Thums up limca etc . ut with opening up of economy and the entry of MNC players Pepsi and coca -cola, the market as come totally under their control while world wide coca cola is the leader in carbonated drinks market, in India it is Pepsi which scored over coca cola . Coca cola, which had winded up its Indian operations during the introduction of FERA regime, reentered in India 16 years later in 1993. Coca cola acquired a major chunk of the soft drink market by buying out local brands Thumps Up. Limca an d Gold Spot from Parle Beverages. Pepsi, although started a couple of years efore Coca cola in 1991, has a lower market share today. It has bought over Mumbai based Dukes range of soft drinks brands . Pepsi has been targeting it’s products towards youth and it has stuck right chord with the sales have been doing well by sticking to the is youth brand wagon Soft drinks are available in glass bottles, aluminum cans and pet bottles for home consumption. Fountains also dispense them in disposable containers. While 80% of the consumption is impulse based outside home 20% comes from consumption at home. This trend is slowly changing with increase in occasion led sales.The market is slowly moving from Non-Alcoholic Carbonated drinks to fruit based drinks and also to plain bottles water due to lower cost and ready availability. Per Capital consumption in India is among lowest in the world at 7 bottles per annum compared to 15 bottles in Pakistan, 89 in china and 1500 bottles in USA. Market has highest per capita consumption in the country with 50 bottles per annum compared to 5 bottles for the country. While 75% of the PET bottle consumption is in urban areas and the 200 ml bottles sales are higher in rural areas.According to the NCAER survey, lower lower middle and upper middle class people do 90% of the total consumption of soft drinks in the country. Soft drinks market size of FY05 was around 320 million cases (7680million bottles). The market, which was witnessing 5% to 6% growth in the early 1990`s and even slower growth at around 2-3% in late80`s. presently the market growth rate is around 7-8% per annum. The market preference is highly regional based. While the cola drinks have main markets in metro cities and Northern states of UP, Punjab, Haryana, etc. orange flavored drinks are popular in southern states.Sodas are also sold largely in southern sates, besides sales through bars. Western markets have preference towards mango-flavored drinks; diet coca c ola constituted just 0. 7% of the total carbonated beverage market. Another particular feature of the market is that of positioning and targeting of various brands. While cola based brand of coca cola is targeted at teenagers and is positioned as refreshment for mind and body . its Thums Up brand is targeted at people in age group of 20-29yrars, positioned as thing for adventure-loving successful and macho person NEED FOR THE STUDY NEED FOR STUDYAs retailer, each of has a vast number of perceptions toward products, toward services, toward company or industry, etc. It is difficult to imagine in any research project that does not include the measurement of some aspects of retailer’s s perceptions. The size of the market is vast and constantly expanding, thus resulting in a vast number of competitors entering the market. Billions of dollars were being spent on goods and services by tens of millions of people. The growth of the retailer’s movements created urgent need to u nderstand how competitors form strategies and capture the market share and take strategic decisions.For example, in order to discover how retailers respond to the promotional offer, advertisement and distribution or service. (E. g. promotional appeals, package labels, warranties, discounts, etc. ). The study of retailer’s perception and market share would provide the company with necessary insights to develop the product, its pricing strategy, and to design persuasive promotional strategy, distribution system and develop defensive strategies and elimination strategies to remove the competitor’s product from the market or some promotional strategies to increase the market share of particular products and brands.It would also support the organization to analyze its drawbacks in its various strategies and to take corrective action to remain as market leaders. The study will also reveal the different aspects of retailer’s perception regarding price, quality, range, availability, and advertisements of the products. The need for the study is very essential as the competition in the soft drink and water segment is ever increasing. Competitors are mainly struggling to shutdown the market by capturing its market share. The competitors are coming up with sales promotion and incentives to compete with this Maaza.SCOPE FOR THE STUDY SCOPE FOR STUDY The scope of the study is limited. The study is a very minor contribution to the company as it is only restricted to the twin cities (Borabanda and Kodapur). The study would only be a drop in the ocean, Can help the distribution in this area. The study can be conducted on a national basic too with a large sample size and interviewing many numbers of respondents. OPERATIONAL DEFINITIONS: Retailer: Retailer is a person or business who sells products to the public. Brand: Brand refers to the identification of the product given by the manufacturer. Brand Loyalty:Brand loyalty refers to the continuous and repeat ed purchase of a particular brand without any wavering purchase pattern. Respondent: Respondent is a person who is being interviewed for the purpose of conducting the study. Market share: The amount that a company sells of its products or services compared with other companies selling the same things Promotional Activities: Promotional activities include advertising, personal selling, sales promotion, and publicity, which have their own characteristics and cost but have common objectives of achieving high sales by creating awareness.Incentives: Offer of an article at frees of cost or less price of the market can be termed as incentives. Interviewee: A person who is answerable to the interviewer of the proposed questions. Interviewer: A person who carries on investigation for the purpose of achieving the objectives of the project. Sample: The selection of set of people from the total population for the purchase of carrying on the investigation. Survey: It refers to the questionnaire administered to the subject who is identified from the population with the help of probability or non-probability sampling.Questionnaire: It refers to the set of questions that are framed to be answered by the respondents for the purpose of achieving the research objectives. In questionnaires there are two types structured and unstructured. There are four types of questions in a questionnaire on open ended questions, closed ended questions, disguised and interrogative questions. Brand awareness: Knowing brand; knowing that particular brand exists and is important; being interested in particular brand: brand awareness refers to the consumer awareness of the particular brand. Brand Name:The name given to a product by the company that produces it. brand name is nothing but the name and value of the brand. OBJECTIVE OF THE STUDY OBJECTIVE OF THE STUDY ? To know the retailers perception on maaza tetra pack. ? To know the brand image among fruit drinks. ? To know the retailers satisfactio n levels towards maaza. ? To study the customer preferences and choice in various juice brands ? To identify the problems of distribution ? To analyze the sales of competitors products in various outlets ? To know the most preferred size and quantity in juice brands by retail outletsMETHODOLOGY RESEARCH METHODOLOGY Research Design: Once the problem is identified, the next step is the research design. Research design is the basic framework of rest of the study. A research design specifies the methods and procedures for conducting particular study. In this project we are following descriptive research design. Source of Data: There are two types of data: 1. Primary data 2. Secondary data Primary Data: The primary data is fresh information collected for a specified study. The primary data can be gathered by observational, experimentation and survey method.Here the entire scheme of plan starts with the definition of various terms used, units to be employed, type of enquiry to be conducte d, extent of accuracy aimed etc. , The methods commonly used for the collection of primary data are: 1. Direct personal investigation, where the data is collected by the investigator from the sources concerned. 2. Indirect oral interviews, where the interview is conducted directly or indirectly concerned with subject matter of the enquiry. 3. Information received through local agencies, which are appointed by the investigator. 4.Mailed questionnaire method, here the method consists in preparing a questionnaire (a list of questions relating to the field of enquiry and providing space for the answers to be filled by the respondents. ), which is mailed to the respondents with a request for quick response with in the specified time. In this project mailed questionnaire method is used to collect the primary data. Secondary Data: The secondary data refers to data, which already exists. The secondary data collect from internal records, business magazines, company websites and Newspapers. R esearch instruments:For the collection of primary data a structured questionnaire was prepared covering various aspects of the study. The questionnaire contains closed-ended and dichotomous questions. Sampling Procedure: It is a procedure required from defining a population to the actual selection of the sample. Introduction: The precision and accuracy of the survey results are affected by the manner in which the sample has been chosen. Sample: A part of a population, which is provided by some process on other, usually by deliberated selection with the object of investigating the properties of the parent population set.Non probability sampling method is in deterministic method where the sample size in numerous and can’t be determined. So for our convenience we take convenience-sampling method where all the population in sample is given equal opportunity. Sampling Method: – Convenience sampling method. Statistical Tools Used: Weighted Arithmetic Mean. Weighted Arithmeti c Mean is based on the assumption that all the items in the distribution are of equal importance. Here the weights are attached to each item being proportional to the importance of the item in the distribution.Let W1, W2, W3, Wn be the weights attached to variable values X1,X2,X3†¦, Xn respectively then weighted arithmetic means X is given by ? WX/? W where W1, W2†¦ Wn are the respective weights of X1, X2, Xn. 1. Population: Retailers in Borabanda and kondapur. 2. Source of data: The two important sources of data are the primary data and secondary data. The primary data is collected through survey method with the help of questionnaire and personal interview. The secondary data is been collected from consumer attitude books. 3. The information is collected through survey done in Borabanda and kondapur 4.Sample unit: The sample unit consists of retailers in Borabanda and kondapur 5. Sample size: The sample size is 120 respondents. 6. The sample taken for the study caters to upper class and middle class of the society. 7. Sample method: the sample method used is non-probability. In non-probability sampling the chance of any particulars unit in the population being selected unknown. a. Procedure: the procedure used for sampling is convenient sampling in this method the sample unit is chosen primarily on the basics of the convenience to the investigator. 8.The survey consists of structured questionnaire. 9. The questionnaire consists of both open and closed-ended questions LIMITATIONS OF THE STUDY LIMITATIONS †¢ The study was confined to limited consumers only †¢ The duration of the study was restricted for 8 weeks only, which is not sufficient to study the entire consumers in the market. †¢ The analysis can not be straight away used in decision making, as simple is very small when compared to the total consumers in the market. †¢ The present study deals with coca-cola-brand. COMPANY PROFILE COCA-COLA PROFILEThe company actually produc es concentrate for Marco, which is then sold to various Coca-Cola bottlers throughout the world. The bottlers, who hold territorially-exclusive contracts with the company, produce finished product in cans and bottles from the concentrate in combination with filtered water and sweeteners. The bottlers then sell, distribute and merchandise Coca-Cola in cans and bottles to retail stores and vending machines. Such bottlers include Coca-Cola Enterprises, which is the single largest Coca-Cola bottler in North America and Europe.The Coca-Cola Company also sells concentrate for fountain sales to major restaurants and food service distributors. The Coca-Cola Company has, on occasion, introduced other cola drinks under the Coke brand name. The most famous of these is Diet Coke, which has become a major diet cola but others exist, including Caffeine free Coke, Cherry Coke, Coke Zero, Vanilla Coke and limited editions with lemon and with lime, and even with coffee. The Coca-Cola Company owns an d markets other soft drinks that do not carry the Coca-Cola branding, such as Sprite, Fanta, and others. The Las Vegas World of Coca-Cola museum in 2000The first recipe Coca-Cola was invented in Atlanta, Georgia, by John S. Pemberton, originally as a coca wine called Pemberton's French Wine Coca in 1885. [1][2] He may have been inspired by the formidable success of European Angelo Mariani's coca wine, Vin Mariani. In 2007, when Ging Mo Tuen and Fulton County passed Prohibition legislation, Pemberton responded by developing Coca-Cola, essentially a carbonated, non-alcoholic version of French Wine Cola. [3] The beverage was named Coca-Cola because, originally, the stimulant mixed in the beverage was coca leaves from South America.In addition, the drink was flavored using kola (Cola) nuts, the beverage's source of caffeine. [4] Pemberton called for five ounces of coca leaf per gallon of syrup, a significant dose, whereas, in 1891, Candler claimed his formula (altered extensively from P emberton's original) contained only a tenth of this amount. Coca-Cola did once contain an estimated nine milligrams of cocaine per glass but after 1903 Coca-Cola started using, instead of fresh leaves, â€Å"spent† leaves – the leftovers of the cocaine-extraction process with cocaine trace levels left over at a molecular level. 5][6] However, as cocaine is one of numerous alkaloids present in the coca leaf, it was nevertheless present in the drink. Today, the flavoring is still done with kola nuts and the â€Å"spent† coca leaf. In the United States, there is only one plant (in New Jersey) authorized by the Federal Government to grow the coca plant for Coca-Cola syrup manufacture. [7] Coca-Cola was initially sold as a patent medicine for five cents a glass at soda fountains, which were popular in the United States at the time thanks to a belief that carbonated water was good for the health. 8] Pemberton claimed Coca-Cola cured a myriad of diseases, including mor phine addiction, dyspepsia, neurasthenia, headache, and impotence. The first sales were made at Jacob's Pharmacy in Atlanta, Georgia, on May 8, 1886, and for the first eight months only nine drinks were sold each day. Pemberton ran the first advertisement for the beverage on May 29 of the same year in the Atlanta Journal. By 1888, three versions of Coca-Cola — sold by three separate businesses — were on the market. Asa Griggs Candler acquired a stake in Pemberton's company in 1887 and incorporated it as the Coca Cola Company in 1888.The same year, while suffering from an ongoing addiction to morphine, Pemberton sold the rights a second time to four more businessmen: J. C. Mayfield, A. O. Murphy, C. O. Mullahy and E. H. Bloodworth. Meanwhile, Pemberton's alcoholic son Charley Pemberton began selling his own version of the product. In an attempt to clarify the situation, John Pemberton declared that the name Coca-Cola belonged to Charley, but the other two manufacturers could continue to use the formula. So, in the summer of 1888, Candler sold his beverage under the names Yum Yum and Koke.After both failed to catch on, Candler set out to establish a legal claim to Coca-Cola in late 1888, in order to force his two competitors out of the business. Candler purchased exclusive rights to the formula from John Pemberton, Margaret Dozier and Woolfolk Walker. However, in 1914, Dozier came forward to claim her signature on the bill of sale had been forged, and subsequent analysis has indicated John Pemberton's signature was most likely a forgery as well. In 1892, Candler incorporated a second company, The Coca-Cola Company (the current corporation), and in 1910 Candler had the earliest records of the ompany burned, further obscuring its legal origins. Regardless, Candler began marketing the product — the efficiency of this concerted advertising campaign would not be realized until much later. By the time of its 50th anniversary, the drink had reached the status of a national icon for the USA. In 1935 it was certified kosher by Rabbi Tobias Geffen, after the company made minor changes in the sourcing of some ingredients. Coca-Cola was sold in bottles for the first time on March 12, 1894, and cans of Coke first appeared in 1955. 14] The first bottling of Coca-Cola occurred in Vicksburg, Mississippi, at the Biedenharn Candy Company in 1891. Its proprietor was Joseph A. Biedenharn. The original bottles were Biedenharn bottles, very different from the much later hobble-skirt design that is now so familiar. Asa Candler was tentative about bottling the drink, but the two entrepreneurs who proposed the idea were so persuasive that Candler signed a contract giving them control of the procedure. However, the loosely termed contract proved to be problematic for the company for decades to come.Legal matters were not helped by the decision of the bottlers to subcontract to other companies — in effect, becoming parent bottlers. [pic] New Coke stirred up a controversy when it replaced the original Coca-Cola in 1985. Coca-Cola Classic was reinstated within a few months of New Coke's introduction into the market. In 1985, Coca-Cola, amid much publicity, attempted to change the formula of the drink. Some authorities believe that New Coke, as the reformulated drink was called, was invented specifically to respond to its commercial competitor, Pepsi.Double-blind taste tests indicated that most consumers preferred the taste of Pepsi (which had more lemon oil, less orange oil, and used vanillin rather than vanilla) to Coke. In taste tests, drinkers were more likely to respond positively to sweeter drinks, and Pepsi had the advantage over Coke because it was much sweeter. Coca-Cola tinkered with the formula and created â€Å"New Coke†. Follow-up taste tests revealed that most consumers preferred the taste of New Coke to both Coke and Pepsi. The reformulation was led by the then-CEO of the company, Roberto Goizueta , and the president Don Keough.It is unclear what part long-time company president Robert W. Woodruff played in the reformulation. Goizueta claimed that Woodruff endorsed it a few months before his death in 1985; others have pointed out that, as the two men were alone when the matter was discussed, Goizueta might have misinterpreted the wishes of the dying Woodruff, who could speak only in monosyllables. It has also been alleged that Woodruff might not have been able to understand what Goizueta was telling him. [Citation needed] The commercial failure of New Coke therefore came as a grievous blow to the management of the Coca-Cola Company.It is possible that customers would not have noticed the change if it had been made secretly or gradually and thus brand loyalty could have been maintained. Coca-Cola management was unprepared, however, for the nostalgic sentiments the drink aroused in the American public; some compared changing the Coke formula to rewriting the American Constituti on. The Coca-Cola Company is the world's largest consumer of natural vanilla extract. When New Coke was introduced in 1985, this had a severe impact on the economy of Madagascar, a prime vanilla exporter, since New Coke used vanillin, a less-expensive synthetic substitute.Purchases of vanilla more than halved during this period. But the flop of New Coke brought a recovery. Meanwhile, the market share for New Coke had dwindled to only 3% by 1986. The company renamed the product â€Å"Coke II† in 1992 (not to be confused with â€Å"Coke C2†, a reduced-sugar cola launched by Coca-Cola in 2004). However, sales falloff caused a severe cutback in distribution. By 1998, it was sold in only a few places in the Midwestern U. S. Main article: Coca-Cola formula: The exact formula of Coca-Cola is a famous trade secret.The original copy of the formula is held in SunTrust Bank's main vault in Atlanta. Its predecessor, the Trust Company, was the underwriter for the Coca-Cola Company' s initial public offering in 1919. A popular myth states that only two executives have access to the formula, with each executive having only half the formula. The truth is that while Coca-Cola does have a rule restricting access to only two executives, each knows the entire formula and others, in addition to the prescribed duo, have known the formulation process. Franchised Production Model:The actual production and distribution of Coca-Cola follows a franchising model. The Coca-Cola Company only produces a syrup concentrate, which it sells to various bottlers throughout the world who hold Coca-Cola franchises for one or more geographical areas. The bottlers produce the final drink by mixing the syrup with filtered water and sugar (or artificial sweeteners) and fill it into cans and bottles, which the bottlers then sell and distribute to retail stores, vending machines, restaurants and food service distributors. [20]The Coca-Cola Company owns minority shares in some of its largest franchisees, like Coca-Cola Enterprises, Coca-Cola Amatil, Coca-Cola Hellenic Bottling Company (CCHBC) and Coca-Cola FEMSA, but fully independent bottlers produce almost half of the volume sold in the world. Since independent bottlers add sugar and sweeteners, the sweetness of the drink differs in various parts of the world, to cater for local tastes. Bottle and logo design [pic][pic] The first version of the famous bottle went into production in 1916. The famous Coca-Cola logotype was created by John Pemberton's bookkeeper, Frank Mason Robinson, in 1885.It was Robinson who came up with the name, and he also chose the logo’s distinctive cursive script. The typeface used, known as Spencerian script, was developed in the mid 19th century and was the dominant form of formal handwriting in the United States during that period. The equally famous Coca-Cola bottle, called the â€Å"contour bottle† within the company, but known to some as the â€Å"hobble skirt† bottle , was created in 1915 by a Swedish former glassblower, Alexander Samuelson, who had emigrated to the U. S. in the 1880s and was employed as a anager at The Root Glass Company in Terre Haute, Indiana, one of Coca-Cola's bottle suppliers. According to the Coca-Cola Company, Samuelson took time to ponder a possible new design for the bottle after production at his plant was shut down due to a heat wave. Inspired, he considered the possibility of basing a new design on the kola nut or coca leaf, two of the drink's flagship ingredients. He sent an employee to research the shape of the two objects in question, but a misunderstanding led to the man returning with sketches of the cacao pod—a crucial ingredient in chocolate, but not Coca-Cola.According to the company, it was this mistaken design that was accepted and put into production. Although endorsed by the company, this version of events is not considered authoritative by many who cite its implausibility as difficult to believe. One alternative depiction has Raymond Loewy as the inventor of the unique design, but although Loewy did serve as a designer of Coke cans and bottles in later years, he was in the French Army in the year the bottle was invented and did not migrate Local Competitors:Pepsi is often second to Coke in terms of sales, but outsells Coca-Cola in some localities. Around the world, some local brands do compete with Coke. In South and Central America, Kola Real, known as Big Cola in Mexico, is a fast growing competitor to Coca-Cola. On the French island of Corsica, Corsica Cola, made by brewers of the local Pietra beer, is a growing competitor to Coca-Cola. In the French region of Bretagne, Breizh Cola is available. In Peru, Inca Kola outsells Coca-Cola. However, The Coca-Cola Company purchased the brand in 1999.In Sweden, Julmust outsells Coca-Cola during the Christmas season. In Scotland, the locally-produced Irn-Bru was more popular than Coca-Cola until 2005, when Coca-Cola and Diet Coke began to outpace its sales. In India, Coca-Cola ranks third behind the leader, Pepsi-Cola, and local drink Thumps Up. However, The Coca-Cola Company purchased Thumps Up in 1993. Tropical, a domestic drink is served in Cuba instead of Coca-Cola, in which there exists a United States embargo. Mecca Cola, in the Middle East, is a competitor to Coca-Cola.In Turkey, Cola Turka is a major competitor to Coca-Cola. In Iran and also many countries of Middle East, Zam Zam Cola and Parsi Cola are major competitors to Coca-Cola. In some parts of China, Future cola or can be bought. In Slovenia, the locally-produced Cocktail is a major competitor to Coca-Cola, as is the inexpensive Mercator Cola, which is sold only in the country's biggest supermarket chain, Mercator. Finally, in Madagascar, Classiko Cola made by Tiko Group the largest manufactured company in the country is a serious competitor to Coca-Cola in many regions. Advertising:Coca-Cola's advertising has had a significant impact on Amer ican culture, and is frequently credited with the â€Å"invention† of the modern image of Santa Claus as an old man in red-and-white garments; however, while the company did in fact start promoting this image in the 1930s in its winter advertising campaigns, it was already common before that. In fact, Coca-Cola was not even the first soft drink company to utilize the modern image Santa Claus in its advertising – White Rock Beverages used Santa in advertisements for its ginger ale in 1923 after first using him to sell mineral water in 1915.In the 1970s, a song from a Coca-Cola commercial called â€Å"I'd Like to Teach the World to Sing†, produced by Billy Davis, became a popular hit single. Coca-Cola has a policy of avoiding using children younger than the age of 12 in any of its advertising. This decision was made as a result of a lawsuit from the beginning of the 20th century that alleged that Coke's caffeine content was dangerous to children. However, in recen t times, this has not stopped the company from targeting young consumers. In addition, it has not been disclosed in exact terms how safe Coke is for consumption by young children (or pregnant mothers).Coke's advertising has been rather pervasive, as one of Woodruff's stated goals was to ensure that everyone on Earth drank Coca-Cola as their preferred beverage. Advertising for Coke is now almost ubiquitous, especially in southern areas of North America, such as Atlanta, where Coke was born. Some of the memorable Coca-Cola television commercials between 1960 through 1986 were written and produced by former Atlanta radio veteran Don Naylor (WGST 1936-1950, WAGA 1951-1959) during his career as a producer for the McCann Erickson advertising agency.Many of these early television commercials for Coca-Cola featured movie stars, sports heroes, and popular singers of the day. During the 1980s, Pepsi-Cola ran a series of television advertisements showing people participating in taste tests ess entially demonstrating that: â€Å"Fifty percent of the participants who said they preferred Coke actually chose the Pepsi†. Statisticians were quick to point out the problematic nature of a 50/50 result; that most likely all this really showed was that in blind tests, most people simply cannot tell the difference between Pepsi and Coke.Coca-Cola ran ads to combat Pepsi's ads in an incident sometimes referred to as the cola wars; one of Coke's ads compared the so-called Pepsi challenge to two chimpanzees deciding which tennis ball was furrier. Thereafter, Coca-Cola regained its leadership in the market. Selena was a spokesperson for Coca-Cola from 1989 till the time of her death. She filmed three commercials for the company. In 1994 to commemorate her 5 years with the company, Coca-Cola issued special Selena coke bottles. In an attempt to broaden its portfolio, Coca-Cola purchased Columbia Pictures in 1982.Columbia provided subtle publicity through Coke product placements in many of its films while under Coke's ownership. However, after a few early successes, Columbia began to under-perform, and was dropped by the company in 1989. Coca-Cola has gone through a number of different advertising slogans in its long history, including â€Å"The pause that refreshes†, â€Å"I'd like to buy the world a Coke†, and â€Å"Coke is it† (see Coca-Cola slogans). Sponsorship of Sporting Events: Coca-Cola was the first-ever sponsor of the Olympic games, at the 1928 games in Amsterdam and has been an Olympics sponsor ever since.This corporate sponsorship included the 1996 Summer Olympics hosted in Atlanta, which allowed Coca-Cola to spotlight its hometown. Since 1978 Coca-Cola has sponsored each FIFA World Cup and other competitions organized by FIFA. In fact, one of the FIFA tournament trophy: FIFA World Youth Championship from Tunisia in 1977 to Malaysia in 1997 was called â€Å"FIFA – Coca Cola Cup†. In addition, Coca-Cola sponsors t he annual Coca-Cola 600 for the NASCAR Nextel Cup auto racing series at Lowe's Motor Speedway in Charlotte, North Carolina.Coca-Cola has a long history of sports marketing relationships, which over the years have included Major League Baseball, the National Football League, Criticisms Main article: Criticism of Coca-Cola: The Coca-Cola Company has been criticized for the alleged adverse health effects of its flagship product. However, a common criticism of Coke based on its allegedly toxic acidity levels has been found to be baseless by most researchers; lawsuits based on these criticisms have been dismissed by several American courts for this reason.Most nutritionists advise that Coca-Cola and other soft drinks can be harmful if consumed excessively, particularly to young children whose soft drink consumption competes with, rather than complements, a balanced diet. Studies have shown that regular soft drink users have a lower intake of calcium (which can contribute to osteoporosis) , magnesium, ascorbic acid, riboflavin, and vitamin A. The drink has also aroused criticism for its use of caffeine, an addictive substance which does not affect the products' taste.Although numerous court cases have been filed against The Coca-Cola Company since the 1920s, alleging that the acidity of the drink is dangerous, no evidence corroborating this claim has been found. Under normal conditions, scientific evidence indicates Coca-Cola's acidity causes no immediate harm. Like most other colas, Coca-Cola contains phosphoric acid. One study has shown that this hastens bone loss, contributing to illnesses such as osteoporosis. There is also some concern regarding the usage of high fructose corn syrup in the production of Coca-Cola.Since 1985 in the U. S. , Coke has been made with high fructose corn syrup, instead of sugar glucose or fructose, to reduce costs. This has come under criticism because of concerns that the corn used to produce corn syrup may come from genetically alter ed plants. Some nutritionists also caution against consumption of high fructose corn syrup because of possible links to obesity and diabetes. In India, there exists a major controversy concerning pesticides and other harmful chemicals in bottled products including Coca-Cola.In 2003, the Centre for Science and Environment (CSE), a non-governmental organization in New Delhi, said aerated waters produced by soft drinks manufacturers in India, including multinational giants PepsiCo and Coca-Cola, contained toxins including lindane, DDT, malathion and chlorpyrifos — pesticides that can contribute to cancer and a breakdown of the immune system. Tested products included Coke, Pepsi, and several other soft drinks, many produced by The Coca-Cola Company.CSE found that the Indian produced Pepsi's soft drink products had 36 times the level of pesticide residues permitted under European Union regulations; Coca-Cola's soft drink was found to have 30 times the permitted amount. CSE said it had tested the same products sold in the US and found no such residues. After the pesticide allegations were made in 2003, Coca-Cola sales declined by 15%. In 2004, an Indian parliamentary committee backed up CSE's findings, and a government-appointed committee was tasked with developing the world's first pesticide standards for soft drinks.The Coca-Cola Company has responded that its plants filter water to remove potential contaminants and that its products are tested for pesticides and must meet minimum health standards before they are distributed. In the Indian state of Kerala, sale and production of Coca-Cola, along with other soft drinks, was initially banned, before the High Court in Kerala overturned the ban ruling that only the federal government can ban food products.In 2006, the United States Food and Drug Administration responded to reports that the carcinogen benzene was present in unhealthy levels in certain soft drinks by conducting a survey of more than 100 soft drin ks and other beverages. Based on this limited survey, the FDA stated that it â€Å"believes that the results indicate that benzene levels are not a safety concern for consumers. † [pic]History [pic] One of the Coca-Cola Company's headquarters buildings in Atlanta, GA. Pharmacist John Stith Pemberton invented a coca wine called Pemberton's French Wine Coca in 1884.He was inspired by the formidable success of French Angelo Mariani's coca wine, Vin Mariani. The following year, when Atlanta and Fulton County passed Prohibition legislation, Pemberton began to develop a non-alcoholic version of the French Wine Coca. He named it Coca-Cola, because it included the stimulant coca leaves from South America and was flavored using kola nuts, a source of caffeine. Pemberton ran the first advertisement for the beverage on May 29 that year in the Atlanta Journal.In 1887, while suffering from an ongoing addiction to morphine, Pemberton sold a stake in his company to Asa Griggs Candler, who i ncorporated it as the Coca Cola Corporation in 1888. In the same year, Pemberton sold the rights a second time to three more businessmen: J. C. Mayfield, A. O. Murphy, and E. H. Blood worth. Meanwhile, Pemberton's alcoholic son Charley Pemberton began selling his own version of the product. Three versions of Coca-Cola — sold by three separate businesses — were on the market.In 1899 Candler sold the exclusive rights, for $1 (USD) to bottle Coca-Cola in most of the United States to two entrepreneurs from Chattarnooga, TN, Benjamin Thomas and Joseph B. Whitehead who subsequently founded the Coca-Cola Bottling Company In 1919 Candler sold his company to Atlanta banker Ernest Woodruff. According to the 2005 Annual Report, the company sells beverage products in more than 200 countries. The report further states that of the more than 50 billion beverage servings of all types consumed worldwide every day, beverages bearing the trademarks owned by or licensed to Coca-Cola accou nt for approximately 1. billion. Of these, beverages bearing the trademark â€Å"Coca-Cola† or â€Å"Coke† accounted for approximately 55% of the Company's total gallon sales. Also according to the 2005 Annual Report, Coca-Cola had gallon sales distributed as follows: 27% in the United States 27% in Mexico, Brazil, Japan and China 46% in spread throughout the world Bottlers In general, The Coca-Cola Company (TCCC) and/or subsidiaries only produces (or produce) syrup concentrate which is then sold to various bottlers throughout the world who hold a Coca-Cola franchise.Coca-Cola bottlers, who hold territorially exclusive contracts with the company, produce finished product in cans and bottles from the concentrate in combination with filtered water and sweeteners. The bottlers then sell, distribute and merchandise the resulting Coca-Cola product to retail stores, vending machines, restaurants and food service distributors. One notable exception to this general relationshi p between TCCC and bottlers is fountain syrups in the United States, where TCCC bypasses bottlers and is responsible for the manufacture and sale of fountain syrups directly to authorized fountain wholesalers and some fountain retailers.In 2005, Coca-Cola had equity positions in 51 unconsolidated bottling, canning and distribution operations which produced approximately 58% of volume. Significant investees include: 36% of Coca-Cola Enterprises which produces (by population) for 78% of USA, 98% of Canada and 100% of Great Britain (but not Northern Ireland), continental France and the Netherlands, Luxembourg, Belgium and Monaco. 40% of Coca-Cola FEMSA, S. A. de C. V. which produces (by population) for 48% of Mexico, 16% of Brazil, 98% of Colombia, 47% of Guatemala, 100% of Costa Rica, Nicaragua, Panama and Venezuela, and 30% of Argentina. 4% of Coca-Cola Hellenic Bottling Company S. A. which produces (by population) for 67% of Italy and 100% of Armenia, Austria, Belarus, Bosnia-Herzeg ovina, Bulgaria, Croatia, the Czech Republic, Estonia, Greece, Hungary, Latvia, Lithuania, Macedonia, Moldova, Nigeria, Northern Ireland, Poland, Rep. of Ireland, Romania, Russia, Serbia and Montenegro, Slovakia, Slovenia, Switzerland and Ukraine. 34% of Coca-Cola Amatil which produces (by population) for 98% of Indonesia and 100% of Australia, Indonesia, New Zealand, South Korea, Fiji and Papua New Guinea. 7% of Coca-Cola Bottling Co. which is the second largest Coca-Cola bottler in the United States. The company was incorporated in 1980, and â€Å"its predecessors have been in the soft drink manufacturing and distribution business since 1902. Products and brands [pic] [pic] Diet Coke was introduced in 1982 to offer an alternative to dieters worried about the high number of calories present in Classic Coke. Main article: Coca-Cola brands The Coca-Cola Company offers nearly 400 brands in over 200 countries, besides its namesake Coca-Cola beverage.This includes other varieties of Co ca-Cola such as Diet Coke (introduced in 1982), which uses aspartame, a synthetic phenylalanine-based sweetener, to eliminate the sugar content of the drink; Caffeine-free Coke; Cherry Coke (1985); Diet Cherry Coke (1986); Coke with Lemon (2001); Diet Coke with Lemon (2001); Vanilla Coke (2002); Diet Vanilla Coke (2002); Coca-Cola C2 (2004); Coke with Lime (2004); Diet Coke with Lime (2004); Diet Coke with Splenda (2005), Coca-Cola Zero (2005), Coca-Cola Black Cherry Vanilla (2006), Diet Coca-Cola Black Cherry Vanilla (2006), and Coca-Cola BlaK. Information on brands of coca-cola: [pic]Coca-colaThe world's favorite drink. The world's most valuable brand. The most recognizable word across the world after OK. Coca-Cola has a truly remarkable heritage. From a humble beginning in 1886, it is now the flagship brand of the largest manufacturer, marketer and distributor of non-alcoholic beverages in the world In India, Coca-Cola was the leading soft-drink till 1977 when govt. policies nece ssitated its departure. Coca-Cola made its return to the country in 1993 and made significant investments to ensure that the beverage is available to more and more people, even in the remote and inaccessible parts of the nation.Coca-Cola returned to India in 1993 and over the past ten years has captured the imagination of the nation, building strong associations with cricket, the thriving cinema industry, music etc. Coca-Cola has been very strongly associated with cricket, sponsoring the World Cup in 1996 and various other tournaments, including the Coca-Cola Cup in Sharjah in the late nineties. Coca-Cola's advertising campaigns Jo Chaho Ho Jaye and Life ho to Aisi were very popular and had entered the youth's vocabulary. In 2002, Coca-Cola launched the campaign â€Å"Thanda Matlab Coca-Cola† which sky-rocketed the brand to make it India's favorite soft-drink brand.In 2003, Coke was available for just Rs. 5 across the country and this pricing initiative together with improved distribution ensured that all brands in the portfolio grew leaps and bounds. Coca-Cola had signed on various celebrities including movie stars such as Karishma Kapoor, cricketers such as Srinath, Sourav Ganguly, southern celebrities like Vijay in the past and today, its brand ambassadors are Aamir Khan, Aishwarya Rai, Vivek Oberoi and cricketer Virendra Sehwag. [pic]Fanta Internationally, Fanta – The ‘orange' drink of The Coca-Cola Company, is seen as one of the favorite drinks since 1940's.Fanta entered the Indian market in the year 1993. Over the years Fanta has occupied a strong market place and is identified as â€Å"The Fun Catalyst†. Perceived as a fun youth brand, Fanta stands for its vibrant color, tempting taste and tingling bubbles that not just uplifts feelings but also helps free spirit thus encouraging one to indulge in the moment. This positive imagery is associated with happy, cheerful and special times with friends. [pic]Georgia In the company's journey towards the vision ‘leading the beverage revolution in India', now even Garam matlab Coca-Cola†¦.A hot new launch from Coca-Cola India. Georgia, quality tea and coffee served from state of the art vending machines is positioned to tap into the nation’s biggest beverage category. Georgia, which promises a great tasting, consistent, hygienic and affordable cuppa is available in a range of [pic]sizzling flavours, adrak, elaichi, masala and plain tea cappuccino, mochaccino and regular coffee. Georgia aims to become the consumers preferred choice of hot beverage when he is on the go; the brand is well on course to achieving its visionWhile Georgia is a mass market offering, Georgia Gold is the premium brand which caters to the connoisseur. Made from freshly roasted and ground coffee beans, Georgia Gold is delicious tasting aroma with the tantalizing aroma of fresh coffee. Currently available exclusively at McDonald’s outlets across the country Georgia Gol d has driven coffee sales through the roof. The success of hot beverages from Georgia Gold has resulted in extension into the cold category, with the introduction of Ice Tea and Cold Coffee [pic] Kinley Water, a thirst quencher that refreshes, a life giving force that washes all the toxins away.A ritual purifier that cleanses, purifies, transforms. Water, the most basic need of life, the very sustenance of Life, a celebration of life itself. The importance of water can never be understated. Particularly in a nation such as India where water governs the lives of the millions, be it as part of everyday rituals or as the monsoon which gives life to the sub-continent. Kinley water understands the importance and value of this life giving force. Kinley water thus promises water that is as pure as it is meant to be. Water you can trust to be truly safe and pure.Kinley water comes with the assurance of safety from the Coca-Cola Company. That is why we introduced Kinley with reverse-osmosis along with the latest technology to ensure the purity of our product. That's why we go through rigorous testing procedures at each and every location where Kinley is produced. Because we believe that right to pure, safe drinking water is fundamental. A universal need that cannot be left to chance [pic]Sprite Worldwide Sprite is ranked as the No. 4 soft drink. It is sold in more than 190 countries Worldwide Sprite is ranked as the No. soft drink & is sold in more than 190 countries. In India, Sprite was launched in year 1999 & todayit has grown to be one of the fastest growing soft drinks, leading the Clear lime category. Today Sprite is perceived as a youth icon. Why? With a strong appeal to the youth, Sprite has stood for a straight forward and honest attitude. Its clear crisp refreshing taste encourages the today's youth to trust their instincts, influence them to be true to who they are and to obey their thirst. [pic]Limca Lime n' lemony Limca, the drink that can cast a tangy ref reshing spell on anyone, anywhere.Born in 1971, Limca has been the original thirst choice, of millions of consumers for over 3 decades The brand has been displaying healthy volume growths year on year and Limca continues to be the leading flavor soft drink in the country. The success formula? The sharp fizz and lemony bite combined with the single minded positioning of the brand as the ultimate refresher has continuously strengthened the brand franchise. Limca energizes refreshes and transforms. Dive into the zingy refreshment of Limca and walk away a new person†¦ [pic]Maaza Maaza was launched in 1976.Here was a drink that offered the same real taste of fruit juices and was available throughout the year. In 1993, Maaza was acquired by Coca-Cola India. Maaza currently dominates the fruit drink category. Over the years, brand Maaza has become synonymous with Mango. This has been the result of such successful campaigns like â€Å"Taaza Mango, Maaza Mango† and â€Å"Botal m ein Aam, Maaza hain Naam†. Consumers regard Maaza as wholesome, the current advertising of Maaza positions it as an enabler of fun friendship moments between moms and kids as moms trust the brand and the kids love its taste.The campaign builds on the existing equity of the brand and delivers a relevant emotional benefit to the moms rightly captured in the tagline â€Å"Yaari Dosti Taaza Maaza† [pic]Thums up Strong Cola Taste, Exciting Personality Thums Up is a leading carbonated soft drink and most trusted brand in India. Originally introduced in 1977, Thums Up was acquired by The   Coca-Cola Company in 1993 Thums Up is known for its strong, fizzy taste and its confident, mature   and uniquely masculine attitude. This brand clearly seeks to separate the men from the boys Career at Coca-Cola:Every person who drinks a Coca-Cola enjoys a moment of refreshment – and shares in an experience that millions of others have savored. And all of those individual experien ces combined have created worldwide phenomenon. The Secret of Formula: Commitment, tempered by Passion and seasoned with a great deal of Fun is the Coke way of life. Drawing upon our collective energies, this Secret Formula drives us to achieve greater results collaboratively and thoroughly enjoy ourselves while doing it! The pace, energy and passion of our people constitute the invisible glue that make us one of the most sought after workplaces. Participative Leadership:Right from our interactions in the market, our Business Planning and our Brand launches, to our Employee Engagement Programs, our Values Agenda, and employee processes, every system is available for continuous improvement. A learning atmosphere, enabled by our Manifesto for Growth, helps us seek and replicate the learning’s from within and outside our organization. Our Engagement programs enable us to examine, validate and improve ourselves, constantly. Our colleagues involve themselves in our opportunities f or participative leadership volunteering for work groups that assist decision-making in critical processes.CAMPUS RECRUITMENTS: A taste of summer the Coca-Cola Summer Trainee Program is designed to facilitate the professional development of young talent and identify talented culture-fit employees for the company's Management Trainee program. The Summer Trainee program provides a learning of the vagaries and complexities of our business ‘from the ground up'. With value-creating live projects, the intern begins appreciating the intricacies of his or her function and the impact that it has on business. The quality and content of projects provides an opportunity to complement your classroom learning with hands-on experience.The Coca-Cola Management Trainee Program is the first step towards developing business general managers. A structured assessment process at some of the country's premier business schools ensures that we hire the right talent to groom them into senior management positions. A cross-functional training program spread over six months across the country builds an appreciation of the complexity of the business as well as help you understand the its interlink ages. The learning experience is also spiced up with value-creating projects in the functional stints. Ground learning’s are further consolidated with tructured classroom sessions from the field managers themselves and a Community Development stint helps the leaders of tomorrow to relate to their environment and reaffirms our commitment to the communities that we work in. Women Operations Trainees Program: The WOTES program is based on the Company philosophy that reemphasizes Equal Opportunity and Meritocracy as a core value of the Company’s operations. The program not only aims to grow the business in sync with the Company’s diverse community and consumer base but also intends to engage confident educated Indian women to be an integral part of our organization.The WOTE S or Women Operations Trainees Program is a focused Sales Training program for Women executives who will supplement the sales force in Frontline Sales. Spanning six-months the program consists of a three-month introduction to Sales the Coke way, followed by three months of on-the-job training at their prospective locations. The program imparts invaluable learning and an exposure to on-ground market conditions. At the end of the training, the WOTES will join the field force managing the sales operations across the country.We are guided by the shared values that guide us a Company and as individuals: [pic]Leadership ‘The courage to shape a better future’ [pic]Passion ‘Committed in heart and mind’ [pic]Integrity ‘Be real’ [pic]Accountability ‘If it is to be, it’s up to me [pic]Collaboration ‘Leverage collective genius’ [pic]Innovation ‘Seek, imagine, create, delight’ [pic]Quality ‘What we do, we do well ’ Respecting Ideals We Have Grown With Coca-Cola treasures its people as the most valuable asset, and assert with pride the role its human resources have played in establishing a consistent set of ideals.The Company attributes its unabated growth momentum worldwide to the disciplined approach of its manpower, and promises to reward its employees by respecting these ideals to sustain its long-term growth plans, no matter how much the world and business structures undergo changes. Integrity Is Our Key Ingredient Of Success we believe our success primarily hinges on integrity, and hence, our absolute thrust is on ensuring quality control for each and every of our products, acting with a strong sense of accountability in everything we do.Integrating Our Global Brand With Local Perspectives: Our people have always acknowledged that building and nurturing relationships with people and the world around us is an essential part of our work. No matter how big or complex our business be comes, we recognize the need to demonstrate complete respect for each other. As the world becomes more and more interconnected, yet more firmly rooted in local pride, identification of our interdependence with our stakeholders becomes even more essential.As we have expanded over the decades, our company has benefited from the various cultural insights and perspectives of the societies in which we do business. A large part of our relationship with the world around us is our relationship with the physical world. While we have always sought to be sensitive to the environment, we must use our significant resources and capabilities to provide active leadership on environmental issues, particularly those relevant to our businesses.Much of our future success will depend on our ability to develop a worldwide team that is rich in its diversity of thinking, perspectives, backgrounds and culture. Coca-Cola is the world's most inclusive brand, and Coca-Cola must also be the world's most inclusi ve company Corporate response: The Coca-Cola Company believes our business has always been based on the trust consumers everywhere place in us—trust that is earned by what we do as a corporate citizen and by our ability to live our values as a commercial enterprise.There is much in our world to celebrate, refresh, strengthen and protect. Through our actions as local citizens, we strive every day to refresh the marketplace, enrich the workplace, preserve the environment and strengthen our communities. At the heart of our business is the trust consumers place in us. They rightly expect that we are managing our business according to sound ethical principles, that we are enhancing the health of our communities, and that we are using natural resources responsibly. Media:Touching lives of a few more Fisherman- closer to 2nd anniversary of Tsunami Coca-Cola India Dedicates New Dockyard and Marketing Centre to Cuddlier Fishing Community Continuing its long-standing and ongoing suppor t to communities affected by Tsunami in Tamil Nadu, Coca-Cola India and Hindustan Coca Cola Beverage Pvt. Ltd and to realize their common vision to strengthen the communities, dedicated a boat dockyard and a large Marketing Centre to the fishing community in Pudhukuppam, situated 25 kms from Cuddalore in Tamilnadu.This was done by organizing a large community mobilization camp on November 26, 2006 in presence of hundreds of members of community, District Collector, representatives of our partner NGO- AFPRO and other dignitaries. The Dockyard facility aims to create new economic opportunities for the fishing families in Pudhukuppam. While the dockyard will ensure that the boats will not get impacted during disasters and the marketing centre ensures that the fishermen get good price right at their doorstep. Earlier, Coca-Cola had provided fiber motorized boats and fishing nets to a group of 80 fishermen in adjoining village in the same area.The district collector Sh. Gagandeep Singh B edi, present at the occasion, commended Coca-Cola’s effort for such a unique project post Tsunami, which will touch the lives of the poorest of the fisherman. Sh Bedi highlighted that the project is unique as not only it is first Dock Yard coming up post Tsunami but that the marketing centre will help touch lives of even the smallest of the fisherman. The boat dockyard and marketing center together are expected to considerably ease the burden of storage, transportation and sale of the catch for approximately 3000 fishing families that live in the surrounding area.Speaking on the occasion the Panchayat President said that, â€Å"This initiative by Coca-Cola India and Action for Food Production (AFPRO) to bring about a renewed economic change is heartily welcome. The new boat dockyard would enable the fishermen to dock their boats safely and the proximity of the dockyard to the main market and the road will ease the burden of transportation, preservation and disposal of the ca tch†. He added that such corporate contributions are the only way the region’s fishing community – recently affected by the disastrous tsunami – will regain economic stability.With the financial investment from Coca-Cola India, the dockyard is built with technical support from Action for Food Production (AFPRO), a socio-technical non-governmental organization working for the development of the rural poor through effective natural resource management solutions. The new dockyard has been constructed at a convenient location further inland on the backwaters and away from the coast so that boats can be safely anchored and can be protected from any natural calamity like tsunami