State or Territory and Federal Level †Free Samples to Students

Question: Discuss about the State or Territory and Federal Level. Answer: Introduction: The Australian legal system is largely derived from the English law, particularly its common law branch, owing to the history of Australia. There are two key sources of law under the Australian legal system, which includes the statutory law and the common law. The statutory law is further created at two levels, i.e. the state or territory level, and the federal level (Carvan, 2015). The statutory laws are created through the act of parliament, and even changed through the process drafted, which includes changes, modifications, amendments, repealing of old provisions or adding new provisions based on changed times and changed needs. The common law has its roots in the English law, where the precedents and common law principles set the rules (Hinchy, 2015). It is crucial for the businesses which are conducted in the nation, to have a good knowledge about the Australian legal system, particularly about the manner in which the laws are created or changed. This is because it allows the businesses to conduct their operations in a smooth manner, due to awareness of applicability of pertinent laws. An equally important discussion in this context is the choice of legal structure, which is the theme of this discussion. As has been touched upon in the introductory segment, the businesses have to keep a good lookout on the manner in which laws are applied in the nation and how they created. This helps in understanding the theme or the spirit of law, which is as important to be followed, as is the letter of the law. Detailed steps are undertaken before a bill is created and the same becomes an act of the parliament (Connolly, 2017). Not only the businesses have to look at the way law is created, they need to gain an understanding on the manner in which the legal entities are created. This understanding depends on the type of business structure which the legal entity adopts, to undertake their business activities. This is because each business structure is created in a varied manner, where some follow stringent legal processes, and the others can be followed by following negligible legal requirements (Latimer, 2012). The different types of business structures and how they differ from each other, along with their advantages and disadvantages have been detailed in the ensuing paragraphs. There are predominantly four different business structures in Australia, and these are sole trader, partnership, company and trust. When it comes to businesses, trust is not given as much preference as it is given in the family business settings, owing to the features of the ability of transferring the beneficial interest (Bryan, Vann Thomas, 2017). The setting up of any trust can be a very expensive thing as it requires drafting of a formal deed, which covers the detail on the manner in which the trust would operate. This deed has to be carefully drafted as it is the key source of liabilities being raised, where there is ambiguity in terms of the trust deed. The operation of the trust is in hands of the trustee and the profits go to the beneficiaries (Australian Taxation Office, 2018). The trusts are not the focus of this study and the focus is laid on the remaining three forms in context of the theme of this discussion. The simplest and easiest manner of undertaking business in the nation is a sole trader business form. In this business structure, a single person runs the entire business and it is usually undertaken at a small level. This business structure has the freedom of running operations as pleases the sole trader, and the regulatory requirements are next to none (Cox, 2012). The sole trader has the entire responsibilities of the business and this includes the liabilities, debts and losses of the business as these cannot be shared in this business structure, with others. The business can be started simply by starting it and is deemed as the most inexpensive business structure. A key advantage of this business structure is that the assets of the business are that of the sole trader and that are minimal reporting requirements, along with it being a low cost business structure. The sole trader can file the tax returns with their personal returns sing the Tax File Number. Again, the affairs of th e business are personal/ private (Caldwell, 2014). Apart from the plethora of advantages put forward by this business structure, there are certain disadvantages also. The biggest is the unlimited liability, which means that in the event where the business fails and is unable to pay off its debts, the person assets of the owner of sole trader can be attached to pay off the debts. Though, the losses of the business can be set off against income earned from it, e.g. investment income or wages, subjected to certain conditions (Christensen Duncan, 2009). A common bank account of the business and individual can also be maintained, provided the last five years financial records are properly maintained. There is also the option of employing people. Yet, due to the small scale of sole trader, it is not successful where the business is to be run on big scale. Also, there is the restriction of raising funds from traditional sources, as against the mode of raising funds from public (Gibson Fraser, 2014). Another business form in Australia is partnership. A partnership is the business which is run in a common manner by two or more individuals with a view of earning profits in a mutual manner. The partnerships too can be formed in an easy manner by two or more people coming together and starting a business, provided they run the business for a common purpose and in a mutual manner. As against sole trader however, the partnership is a little more formal business structure and regulatory norms apply on it. Every jurisdiction in Australia has its own partnership act (Fletcher, 2017). For instance, in Victoria, there is the applicability of the Partnership Act, 1958 (Vic). The definition of partnership is given under section 5 of this act, where the individuals carrying business in common manner and for earning profits. Under sections 6 of this act, the rules have been given for determining the presence of partnership (Victoria Legislation, 2018). Even though the partnership is generally r egulated through a partnership deed, which is a written contract denoting the presence and terms of the partnership, it is not deemed as a compulsory document to be drafted for presence of partnership. As is the case of sole trader, there are a number of advantages and disadvantages of a partnership. The advantages include the low start up costs and the ease of establishing business. There is more availability of capital in the business under this form as compared to the sole trader and also the skill pool is wider. The business decisions can be carefully undertaken after each partner puts the understanding to the decision, which helps in identifying the issues, which a single person may not think about in general. There is also a higher borrowing capacity and the high calibre or high skilled employees can easily be made the partners. The profits and losses of the partnership are shared equally between the partners, unless the partnership deed provides otherwise. In order to gain tax savings, there is also the opportunity of splitting the income. Again, the business affairs of the partners remain private and there is also the limited external regulation on partnerships (Vickery Fl ood, 2012). The disadvantages of partnership often make the choice of going for this business structure, an unfavourable option. The partners are severally and jointly liable for the debts of the partnership; this means that every partner is accountable for their share of debts of partnership, along with being accountable for the debts of the partnership. A major problem is the risk of disagreement or possible friction in between thee partners or the management, which could result in the dissolution of the partnership firm. The applicability of agency law on partnership makes every partner being liable for the acts of the other partners, as each partner is deemed as the agent of partnership. Lastly, with the addition or subtraction of each partner, there is a need of valuing the partnership again, which can often prove to be a costly affair (Tasmania Government, 2018a). The last and possibly the most common more of running business in Australia is a corporation form of business structure. A company is deemed as a separate legal person and as a result of this, it is considered as separate from the ones who run the affairs or the day to day activities of the companies. In Australia, Corporations Act, 2001 (Cth) applies on all the companies and this legislation has to be strictly followed. Apart from this act, there are a number of other legislations, depending upon the type and industry in which the business is conducted, which have to be followed, in addition to the directives and guidelines of the regulatory bodies, and the supporting rules and regulations of such legislations. As against partnership, having a single core legislation helps the business as they do not have to keep a check on which legislation would apply in which jurisdiction. However, in comparison to both sole trader and partnership, the legal and regulatory compliance under compan y form of business structure are very lengthy, making the running of company as a costly affair (Cassidy, 2006). As against sole trader and partnership, there is limited liability of the owners or the shareholders of the companies. In the event of winding up of a company, the shareholders can only be made liable for such sum, which is unpaid on their shares and their personal assets are thus safe and secure. There is also the option of raising funds from the public under the public companies; and even the proprietary companies can raise funds by issuing shares to the friends and families (Bottomley, Hall, Spender Nosworthy, 2017). The company form of business structure has skilled and specialized person who run the business of the company for the shareholders of the company. This maximizes the skill pool and the efficiency of the business, as the business is not run by the owners, instead it is run by others for them. There is also the ease of transferring the ownership of business, where the same can be undertaken by merely transferring the shares of company to another person (Tasmania Govern ment, 2018b). The key disadvantages of company form of business structure includes the complexity in running business, in terms of high compliance requirements and the need for catering to the needs of different stakeholder groups. Different duties are imposed on the directors, key officers and employees of the company through the Corporations Act, 2001, which can result in both civil and criminal liabilities, where these are not complied with. Also, as against the earlier two systems, the affairs of the company, particularly its financial affairs are public. Lastly, the process of forming, maintaining and winding up of a company is very detailed, complex and expensive in comparison to the other two forms. Conclusion Thus, to bring this discussion to its conclusion, there are predominantly four different business structures in Australia and the aforementioned parts covered details of three of these in terms of sole trader, partnership and company. Each of these structures is different from the other, and caters to the needs of different set of people. So, the choice of business structure to conduct business in Australia would depend upon the requirements, for instance, for establishing a small business by one person, sole trader is favourable, for doing the same with two or more people, partnership is favourable, and where different individuals want to establish a big business, a company form of business structure is favourable. As the Australian legal system brings forth different rules and regulations which encompass the workings, operations and even the formation of businesses, there is a need to properly consider the aforementioned points and follow the regulations as have been drafted. Befor e starting or choosing any business structure, it is important to consider the aforementioned advantages and disadvantages. All in all, the discussion highlighted the various aspects of the different business structures to provide a comprehensive comparison of these. References Australian Taxation Office. (2018). Trust. Retrieved from: https://www.ato.gov.au/Business/Starting-your-own-business/Before-you-get-started/Choosing-your-business-structure/trust/ Bottomley, S., Hall, K., Spender, P., Nosworthy, B. (2017).Contemporary Australian Corporate Law. Victoria: Cambridge University Press. Bryan, M., Vann, V., Thomas, S. B. (2017).Equity and trusts in Australia. Victoria: Cambridge University Press. Caldwell, R. (2014) Taxation for Australian Businesses: Understanding Australian Business Taxation Concessions. West Sussex: John Wiley Sons. Carvan, J. (2015). Understanding the Australian Legal System. Sydney, Australia:Thomson Reuters (Professional) Australia Limited. Cassidy, J. (2006). Concise Corporations Law (5th ed.). NSW: The Federation Press. Christensen, S. A., Duncan, W. D. (2009).Sale of Businesses in Australia. Annandale, NSW: Federation Press. Connolly, A.J. (2017). The Foundations of Australian Public Law. Victoria: Cambridge University Press. Cox, J. (2012). Business Law. Oxford: Oxford University Press. Fletcher, K. L. (2007).The Law of Partnership in Australia (9th ed.). New South Wales: Lawbook Company. Gibson, A., Fraser, D. (2014). Business Law 2014 (8th ed.). Melbourne: Pearson Education Australia. Hinchy, R. (2015).The Australian legal system: History, institutions and method (2nd ed.).Sydney, Australia: Thomson Reuters. Tasmania Government. (2018a). Partnership advantages and disadvantages. Retrieved from: https://www.business.tas.gov.au/starting-a-business/choosing-a-business-structure-intro/partnership-advantages-and-disadvantages Tasmania Government. (2018b). Company - advantages and disadvantages. Retrieved from: https://www.business.tas.gov.au/starting-a-business/choosing-a-business-structure-intro/proprietary-company-advantages-and-disadvantages Vickery, R., Flood, M. (2012). Australian business law: compliance and practice. Melbourne: Pearson Australia. Victoria Legislation. (2018). Partnership Act 1958. Retrieved from: https://www.legislation.vic.gov.au/Domino/Web_Notes/LDMS/LTObject_Store/LTObjSt3.nsf/DDE300B846EED9C7CA257616000A3571/01B21B47459FCCB8CA25776100293447/$FILE/58-6330a051.pdf

Analysis of Investment Proposition on Cochlear Limited

Question: Discuss about theAnalysis of Investment Proposition on Cochlear Limited. Answer: Introduction Cochlear Limited is a biotechnology-based company with listings in the Australian Securities Exchange and global operations in all five continents. CEO Chris Smith heads the company with its board of directors headed by Chairman Rick Holiday-Smith (Cochlear.com. 2016). Cochlear Limited provides hearing solutions through its implantable surgical and non-surgical hearing products. The company has extensive sets of patents and applications numbering over 1000 upon hearing aid and sound processing technology. The companys major manufacturing base is located in Australia and Sweden while supplies and distribution chains in over 100 countries with its headquarters located in Sydney (Cochlear.com. 2016). The companys global operations are mainly segmented onto three different sets of geographical areas comprising of Europe, Middle East and Africa (EMEA), Americas (both North America and Latin America) and Asia Pacific. The company generated a revenue of A$ 925 million for the financial peri od ended 31.12.2016 (Markets.ft.com. 2016). Product Line of Cochlear: The company provides solutions ranging from minimal degree of hearing constraints to sensory-neural hearing loss. Its primary products comprises of cochlear implants, bone conduction implants and acoustic implant solutions. In terms of its products that are to be surgically implanted, Nuclear 6 is of primary significance owing to its ability to restore hear-ability in cases of complete hearing loss in both ears. The Cochlear Hybrid offered by the company provides hearing solutions for people unable to hear high frequency sounds through providing simulations using electronic synapses. The Hybrid processor offered by Cochlear assimilates and synthesizes external sounds and converts them into electrical and acoustics outputs for the patients ears. The company develops the Cochlear Baha by taking into account people with high quantum of conductive hearing loss and one-sided deafness. Baha comprises of titanium hearing aids that are implanted surgically at the back of patients ears (Bloom berg.com. 2016). Financial Analysis and Forecasts: In terms of revenue generation, the company has displayed steady growth over the past four financial periods with reported revenues of A$ 752.72 million for 2012-13, A$ 804.94 million for 2013-14, A$ 925.63 million for 2014-15 (Markets.ft.com. 2016).The revenues for the period 2015-16 was to the tune of A$ 1.13 billion. The revenues generated in the current year displayed a increase of 22.14% over the past year, thereby highlighting efficient sales management and product pricing strategy. The forecasted revenues for the years 2017 and 2018 stands at 1.244 billion and 1.37 billion respectively at the average growth rate of 10.17%. Figure 1: Current and Prospective Revenues of Cochlear Limited (Source: Markets.ft.com. 2016) The beta of a particular stock showcases the degree of volatility that the stock experiences as compared to prevalent market volatility. A beta that equals 1 displays same degree of risks as experienced by the market whereas a beta that is lower that 1 shows lesser degree of volatility and therefore is less susceptible to financial risks. On the other hand, a beta that is above 1 shows a high degree of volatility coupled with high prospects of returns. Figure 2: Stock price volatility between June 2016 and October 2016 (Source: Bloomberg.com. 2016) Cochlear limited has a beta of 1.2, which specifies the fact that in case the financial markets raises by a margin of 100, the stocks of Cochlear will rise by 120. This also reiterates the fact that a fall in the market by margin of 100 will result in shares of Cochlear falling by 120 points. For investors that are seeking to earn high degree of returns, Cochlear presents prospective investments. Whereas in case of risk averse investors, including Cochlear in their investment portfolio may result in increasing the levels of portfolio risk The company has a market capitalization of A$ 7.234 billion as of October, 2016 with the total number of shares outstanding at 57.42 million. The company has an Altman Z Score of 2.989, thereby leading to an inference that the company is unlikely to be filing for bankruptcy in the near future based upon financial metrics. It is because an Altman score of 1.8 is considered the threshold below which the probability of filing for bankruptcy increases substantially. Whereas, on the other hand, a corporate entity with Z score of 3 or above has low or negligible probability of going bankrupt or filing for insolvency. Therefore, based on the parameters as regards to credit risks it can be construed that the company is likely to display satisfactory levels of solvency during the financial periods. Dividend yield is considered another parameter for taking investment decisions because of the fact that it displays whether the stocks of a particular company are overpriced or not. Hirshleifer, Hsu and Li (2013) mentions that stocks with high dividend yields are overpriced as compared to those having a low degree of dividend yields. Risk averse investors seek investments with low dividend yield thereby at a dividend yield of 1.8% it can be inferred that the stocks of Cochlear are underpriced. However, at dividend of A$ 1.2 for each outstanding share it can be displayed that for investors seeking returns from their investment in Cochlear, the companys stocks are not an attractive proposition. Conclusion and Recommendations: The analysis upon the revenue generating capability of Cochlear Limited shows that at average revenue growth of over 10% the company has efficient operations and sales management. The genre of providing hearing aid solutions has lesser degree of competition for Cochlear globally. The Altman Z score of nearly 3 shows the fact that the company has virtually negligible risks of going bankrupt. Thereby, investors can be advised towards including shares of Cochlear onto their investment portfolio based upon their degree of solvency. Moreover, analysis of the stocks beta, belonging to Cochlear, shows that the beta stands at 1.2 which therefore displays the fact that the companys stocks are subjected to high degree of volatility. Based solely on the beta levels it can be construed that the stocks posses high degree of risks with probability of gaining high degree of returns. Overall, judging by the different sets of parameters it can be concluded that in case of investors seeking lesser degree of risks in their investments Cochlear can be construed as a attractive investment proposition. This is owing to high revenue growth, satisfactory levels of dividend yield and sustainable degree of returns despite a beta of above 1. References and Bibliography: Allen, E.J., Larson, C.R. and Sloan, R.G., 2013. Accrual reversals, earnings and stock returns.Journal of Accounting and Economics,56(1), pp.113-129. Bloomberg.com. (2016). COH:ASE Stock Quote - Cochlear Ltd. [online] Available at: https://www.bloomberg.com/quote/COH:AU [Accessed 31 Oct. 2016]. Cochlear.com. (2016). Cochlear Hearing Implants | Official Website | Cochlear International. [online] Available at: https://www.cochlear.com/wps/wcm/connect/intl/home [Accessed 31 Oct. 2016]. Fama, E.F. and French, K.R., 2012. Size, value, and momentum in international stock returns.Journal of financial economics,105(3), pp.457-472. Google.ca. (2016). Cochlear Limited: ASX:COH quotes news Google Finance. [online] Available at: https://www.google.ca/finance?cid=671051 [Accessed 31 Oct. 2016]. Hirshleifer, D., Hsu, P.H. and Li, D., 2013. Innovative efficiency and stock returns.Journal of Financial Economics,107(3), pp.632-654. Intelligent Investor. (2016). COH. [online] Available at: https://www.intelligentinvestor.com.au/company/Cochlear-Limited-COH-249441 [Accessed 31 Oct. 2016]. Markets.ft.com. (2016). Cochlear Ltd, COH:ASX summary - FT.com. [online] Available at: https://markets.ft.com/data/equities/tearsheet/summary?s=COH:ASX [Accessed 31 Oct. 2016]. Sorescu, A. and Sorescu, S.M., 2016. Customer Satisfaction and Long-Term Stock Returns.Journal of Marketing,80(5), pp.110-115.

Capitalistic Government Of US Essays - Capitalism,

Capitalistic Government Of US "We hold these Truths to be self-evident, that all Men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the Pursuit of Happiness -- That to secure these Rights, Governments are instituted among Men, deriving their just Powers from the Consent of the Governed, that whenever any Form of Government becomes destructive of these Ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its Foundation on such Principles, and organizing its Powers in such Form, as to them shall seem most likely to effect their Safety and Happiness." (Thomas Jefferson, Declaration of Independence) When Thomas Jefferson wrote these words, he wrote them with the intent of establishing a new government that would not give anyone favoritism over others. After 224 years, this idea is still believed in by the citizens of America, but not practiced by their government. As the years passed, the values of America have slowly altered to materialism. The people trusted our government to make the best decisions for the entire country, but some decisions seem to favor the wealthiest citizens rather than all of the citizens. Not to say that the government is completely corrupt, but their priorities seem to have a monetary value, and they must pay for it some how. As a country with a capitalist government, one that has the main focus of making profit through free markets, money has an unfortunately big influence on policies that are made by the government. According to the public, which was based on middle-class adults in the US, business editors and college students, the general consensus came out to be that they believed that "capitalism must be altered before any significant improvements in human welfare can be realized." This can be seen throughout history in the positions taken by the government about free markets, unionization, and . The United States of America's government is hyper-capitalistic, because the markets are freer than in any other country. We consume more and are more dependent on working. The markets in the US have not always been so free. In the beginning we had small markets that people did not depend so much on because of the fact that they were all farmers and sharecroppers. The existence of slavery was in very recent in history back then. America was not considered a capitalistic country, but instead a feudal one because everyone traded and didn't expect monetary compensation for their products. When the goal of production (around the end of the 19th century) changed from being used for exchange to profit, the US began to become capitalistic. To establish a definition of capitalism, I shall establish it as when goods are produced to be sold; the revenues made are then used to be what you need with intent to make a profit in the end. Our capitalistic ways are effective in the US government because it small enough to allow the businesses to make their own decisions. As the US became industrialized, the need to mass-produce came into effect, and the boom in the labor market began. The problem with this is that the freedom of the markets allowed the businesses to move around as they liked; only when they were knowingly signing a contract were they forced to make a commitment. Markets dispersed power that kept the government from being able to say anything to the businesses that were making the most money in the market. The government decided to not involve itself when it came to the market, even though they knew that the bigger companies were overtaking the smaller ones. The wealthiest owners had the power in the markets and this allowed them to have more say as to what goes on in the free market. The government could intervene in this situation, but they do not because it would be too risky for them to put restrictions on the companies that right now have the power in the business world. The free market of America is one that claims that everyone is free to gain power, but what happens when business owners decide to be a monopoly? Competition is good, but there are competitors that are so powerful that they are willing to crush any smaller competition. The government's role in this situation can be seen as unfavorable for the smaller businesses and favorable to the wealthier businesses. The government chose to minimally involve itself in this situation under Capitalistic Government Of US Essays - Capitalism, Capitalistic Government Of US "We hold these Truths to be self-evident, that all Men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the Pursuit of Happiness -- That to secure these Rights, Governments are instituted among Men, deriving their just Powers from the Consent of the Governed, that whenever any Form of Government becomes destructive of these Ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its Foundation on such Principles, and organizing its Powers in such Form, as to them shall seem most likely to effect their Safety and Happiness." (Thomas Jefferson, Declaration of Independence) When Thomas Jefferson wrote these words, he wrote them with the intent of establishing a new government that would not give anyone favoritism over others. After 224 years, this idea is still believed in by the citizens of America, but not practiced by their government. As the years passed, the values of America have slowly altered to materialism. The people trusted our government to make the best decisions for the entire country, but some decisions seem to favor the wealthiest citizens rather than all of the citizens. Not to say that the government is completely corrupt, but their priorities seem to have a monetary value, and they must pay for it some how. As a country with a capitalist government, one that has the main focus of making profit through free markets, money has an unfortunately big influence on policies that are made by the government. According to the public, which was based on middle-class adults in the US, business editors and college students, the general consensus came out to be that they believed that "capitalism must be altered before any significant improvements in human welfare can be realized." This can be seen throughout history in the positions taken by the government about free markets, unionization, and . The United States of America's government is hyper-capitalistic, because the markets are freer than in any other country. We consume more and are more dependent on working. The markets in the US have not always been so free. In the beginning we had small markets that people did not depend so much on because of the fact that they were all farmers and sharecroppers. The existence of slavery was in very recent in history back then. America was not considered a capitalistic country, but instead a feudal one because everyone traded and didn't expect monetary compensation for their products. When the goal of production (around the end of the 19th century) changed from being used for exchange to profit, the US began to become capitalistic. To establish a definition of capitalism, I shall establish it as when goods are produced to be sold; the revenues made are then used to be what you need with intent to make a profit in the end. Our capitalistic ways are effective in the US government because it small enough to allow the businesses to make their own decisions. As the US became industrialized, the need to mass-produce came into effect, and the boom in the labor market began. The problem with this is that the freedom of the markets allowed the businesses to move around as they liked; only when they were knowingly signing a contract were they forced to make a commitment. Markets dispersed power that kept the government from being able to say anything to the businesses that were making the most money in the market. The government decided to not involve itself when it came to the market, even though they knew that the bigger companies were overtaking the smaller ones. The wealthiest owners had the power in the markets and this allowed them to have more say as to what goes on in the free market. The government could intervene in this situation, but they do not because it would be too risky for them to put restrictions on the companies that right now have the power in the business world. The free market of America is one that claims that everyone is free to gain power, but what happens when business owners decide to be a monopoly? Competition is good, but there are competitors that are so powerful that they are willing to crush any smaller competition. The government's role in this situation can be seen as unfavorable for the smaller businesses and favorable to the wealthier businesses. The government chose to minimally involve itself in this situation under

Index of Qualitative Variation (IQV)

Index of Qualitative Variation (IQV) The index of qualitative variation (IQV) is a measure of variability for nominal variables, such as race, ethnicity, or gender. These kinds of variables divide people by categories that cannot be ranked, unlike a variable measure of income or education, which can be measured from high to low. The IQV is based on the ratio of the total number of differences in the distribution to the maximum number of possible differences in the same distribution. Overview Let’s say, for instance, that we are interested in looking at the racial diversity of a city over time in order to see if its population has gotten more or less racially diverse, or if it has stayed the same. The index of qualitative variation is a good tool for measuring this. The index of qualitative variation can vary from 0.00 to 1.00. When all of the cases of the distribution are in one category, there is no diversity or variation, and the IQV is 0.00. For instance, if we have a distribution that consists entirely of Hispanic people, there is no diversity among the variable of race, and our IQV would be 0.00. In contrast, when the cases in a distribution are distributed evenly across the categories, there is maximum variation or diversity, and the IQV is 1.00. For example, if we have a distribution of 100 people and 25 are Hispanic, 25 are white, 25 are Black, and 25 are Asian, our distribution is perfectly diverse and our IQV is 1.00. So, if we are looking at the changing racial diversity of a city over time, we can examine the IQV year-over-year to see how diversity has evolved. Doing this will allow us to see when diversity was at its highest and at its lowest. The IQV can also be expressed as a percentage rather than a proportion. To find the percentage, simply multiply the IQV by 100. If the IQV is expressed as a percentage, it would reflect the percentage of differences relative to the maximum possible differences in each distribution. For example, if we were looking at the racial/ethnic distribution in Arizona and had an IQV of 0.85, we would multiply it by 100 to get 85 percent. This means that the number of racial/ethnic differences is 85 percent of the maximum possible differences. How To Calculate The IQV The formula for the index of qualitative variation is: IQV K(1002 – ÃŽ £Pct2) / 1002(K – 1) Where K  is the number of categories in the distribution and ÃŽ £Pct2 is the sum of all squared percentages in the distribution. There are four steps, then, to calculating the IQV: Construct a percentage distribution.Square the percentages for each category.Sum the squared percentages.Calculate the IQV using the formula above. Updated  by Nicki Lisa Cole, Ph.D.

Customer Relationship Management in Youi Company Essay

Customer Relationship Management in Youi Company - Essay Example This strategy involves division of the market base using diverse variables, which include age, education, culture, occupation, location and socio-economic status among others. Youi insurance stormed the Australian market and launched its products with the aim of reaching every segment of the customer base. The company personalized insurance and defined the risks more accurately. This strategy allowed Youi insurance company to reach the new but low risk customer segments, which were not previously targeted by other insurers (Carr, 14). These segments included the white-collar commuters who commuted by public service transport to the city for work. Customized media approach was used to reach diverse groups accordingly. For instance, the company targeted the bus and train stations and quenched the traveler’s thirst during the summer mornings with customized bottles of water. Similarly, weekday and daytime TV media advertisements reached the customer segment in homes. This strateg y reached and attracted numerous customers (Carr, 14). A vigorously integrated information and technology system has reached the customer market. This has eased provision of insurance products and communicating with the customers more easily. This study establishes that, Youi uses its integrated information and technology system to transact. This implies that most of the customer requests are done online.According to this study, provision of personalized and cheap insurance retained the customer segments acquired.... Similarly, weekday and daytime TV media advertisements reached the customer segment in homes. This strategy reached and attracted numerous customers (Carr, 14). A vigorously integrated information and technology system has reached the customer market. This has eased provision of insurance products and communicating with the customers more easily. This study establishes that, Youi uses its integrated information and technology system to transact. This implies that most of the customer requests are done online. Retention of the Acquired customer base According to this study, provision of personalized and cheap insurance retained the customer segments acquired through the campaigns and media advertisement (Carr, 14). The Youi Company ensured that the customers understand the finer details of the insurance products provided. Correspondingly, the prices offered remained affordable. Notably, the Youi insurance has gone a notch higher in market orientation. This implies that, the company is focused upon the desires of the customers (Insurance in Australia, 6). The needs of the clients are addressed in a three-level of a product, which include the tangible product, core product and associated benefits and the augmented product (customer service). This trend retained and expanded the customer market. The National Model Railroad Association (NMRA) NMRA is one of the oldest insurance companies in Australia with over 150 branches across the globe. NMRA enjoys a hearty customer relationship management (CRM) system. NMRA uses the aspect of information technology in reaching and retaining its customer base. The database interconnects all the branches across

Tsunami Essay Example | Topics and Well Written Essays - 1000 words

Tsunami - Essay Example People who lost their lives were as many as 250 000 across the shores of the Indian ocean and millions of people were displaced from their homes and their livelihoods destroyed. Countries that were directly affected by the earthquake include Indonesia, Maldives, the Seychelles, Somalia, Sri Lanka, Thailand and Yemen. The livelihoods of people were greatly affected especially the poor people who depended on the ecosystem and natural resources for survival. People lost their food stores and the shops in the coastline were greatly affected. Impact on environment/pollution Environmental impact assessment showed that there are great damages to both human and natural resources. The damage could have been larger but the natural resources also provided a first line defense to the tsunami effects. The damage needed an environmental reconstruction programme that cleaned the hotspots, carried the rehabilitation of the livelihoods and ecosystem, and strengthens environmental policies. The water and soils within the periphery of the coastal systems were greatly contaminated thus interfering with the coastal ecosystems (Samarajiva 14). Inland waters, wetlands, and agricultural lands that support people with food were greatly salinated thus affecting the agricultural yields. Shallow wells and ground water supplies in the small islands and in the coastal lands were greatly affected since their fresh waters were also salinized with the waters that overflowed from the ocean. About 90% of the toilets on the badly affected highlands and coastal regions lost and the waters contaminated with sewage. The living conditions were greatly affected since the survivors stood great chances of contaminating water borne diseases. In Sri Lanka; more than 25% of the wells become contaminated when the waters from the saline Indian Ocean and sewerage treatment systems mixed with them (UNEP 15). Waterborne diseases and vector borne diseases increased considerably resulting to high mortality rates along affected coastlines. The environmental infrastructure like water and sanitation systems together with disposal sites were tampered and greatly damaged. Contamination from waste deposits caused health and environmental problems that threatened livelihoods for several years. Most lives were saved due to the enormous humanitarian response that was quickly mobilized across the globe with appropriate mitigation measures put in place to improve environmental standards (Dawson & Stewart 17). Production of goods and services/Economic impact The economic activities in the coastline and the coastal highlands were greatly affected by the tsunami. Sources of daily income and food were totally destabilized leaving people vulnerable to hunger and thirst. Many of the victims were involved in fisheries prior to the attack but they are left with no source of income since their boats were destroyed and the aquatic system destabilized. Mangrove systems and the aquaculture provided a sustainable balance in the coastal systems that were greatly interfered with in the course of mangrove attack (UNEP 19). Rice crops in islands were seen to be yellowing in the field few weeks after the deadly tsunami, an indication that they were drying out. Soil conditions doubled their salt content needed by plants

The differences between Classical and Modern theater Essay

The differences between Classical and Modern theater - Essay Example In classical theaters, they were open air venues where performances could only be conducted at daytime in daylight (Walton 1987 pg 122-6). On the contrary, the modern theaters are permanent buildings with complete seats. The theaters use modern equipment to compliment the natural implements. The theaters are said to be built with padded seats with a complete enclosure. The performances of the modern theaters take place both at night right from the afternoons. The large part of the design and the presentation is formed by the artificial lights. The classical theaters could evolve to satisfy the ever changing specifications of the events acted (Walton 1987 pg 67-9). It was made in different shapes, sizes and had a variety of functions. While the modern theaters are unnecessarily complex, the classical theaters were just so simple with a great influence on any performance that was conducted on it. In terms of performance, the classical performances sometimes entailed performances that impact on moral negatively as opposed to the modern ones which are endeared towards the theme to the audience (Walton 1987 pg