What is RFID technology In what ways can it improve supply chain Essay

What is RFID technology In what ways can it improve supply chain functioning - Essay Example This paper discusses one of the most efficient and trusted method of ensuring inventory efficiency is attained, the use of Radio Frequency Identification. The supply chain Radio Frequency Identification, abbreviated as RFID, is a technology used by some retailers and wholesalers to track goods along the supply chain (Millsap para. 4). This method employs the use of concealed RFID tags made by joining radio antennas with microchips. The tags can store up to two kilobytes of information. In the tag memory, information such as the product identification, price of the item, and its manufacture date is stored. The RFID tags are then attached on individual products or the packaging where they are read by a reader collecting information about the product and then transferring it to a computer system. With the use of RFID, companies can increase their efficiency of the global supply chain management through the visibility they devices offer on the demand of the products and ordering decision of customers. The RFID tags are effective in decreasing the Bullwhip effects. Since ordering and sales are closely related, companies can make proper decisions through Just in Time (JIT) information received from the tags and can, therefore, decrease effects of inefficient handling and making improper inventory decisions (Millsap para. 1). Although there have been ethical issues raised in regard to the tags, it is evident that they are very helpful in the supply

Week eleven forum Term Paper Example | Topics and Well Written Essays - 250 words

Week eleven forum - Term Paper Example Surrealist desires includes our primordial want for sex, fame, fortune and other instincts which when taken into excess are considered base. Thus, advertising such as the one employed by Carls Jr which is supposed to be a wholesome product has to associate with "sexism" when it used Terry Crews sexy innuendos to communicate subtly that the product is delectable and improve Carls Jr position in the market. The list goes on, employing the same surrealist principle of appealing to our subconscious desires. The approach is so effective that even products that could kill could have patronage. The classic example is the cigarette Marlboro which employs an absurd advertising (before it was banned) under the slogan "Marlboro Country which is really nothing except to depict an Alpha male stature that anyone who will not smoke Marlboro are considered as "others" and therefore inferior, less sexy and

Bob Knowlton Case Study Example | Topics and Well Written Essays - 250 words

Bob Knowlton - Case Study Example From tniks study it is clear that Bob should have been adequately prepared for the changes within the organization. Jerrold should have had communication with Bob outside of the work setting and possibly identified Bob's emotional problem with Fester. Communication between Bob and Jerrold was always focused on work and tasks that limited bob's ability to express his discomfort about Fester to Jerrold.As the discussion stresses it is important for members of staff to be involved in team building activities. Before Fester's arrival, the members of the lab did not have team building activities. Emphasis was put on tasks at the lab, and there was no cohesiveness between the staff. The relationships of the staff do not exist outside of the workplace, and this hinders the interpersonal development between the individuals of the group. As a result, the individuals of the group do not feel empowered, and this is worsened by the arrival of Fester. The group members feel that Fester is getting preferential treatment by Jerrold. Jerrold, on the other hand, does not efficiently communicate the role he has planned for Fester, leaving Bob feeling undermined and threatened as the leader of the lab.  Jerrold's passive leadership does not adequately prepare members of the lab for a change. Before Fester's arrival, Bob feels empowered and a valued member of the lab.  Bob was not aware of Fester's hiring and is taken by surprise. He was neither informed nor prepared for this change.

Hezbollah's fight with Israel in 2006 Essay Example | Topics and Well Written Essays - 750 words

Hezbollah's fight with Israel in 2006 - Essay Example Given the harsh rhetoric against Israel in the Middle East for the past few decades, it may be a matter of time until one of those neighbors develops the support, and the military resources, to invade and devastate the tiny Israeli nation as a means of removing the Jewish presence from Jerusalem. This kind of conflict would ignite the entire Middle East in a war against the West, given the support that Israel enjoys from the United States and Europe. Therefore, the 2006 July War was not only a frightening experience for the parties directly involved, but the whole world. Although Israel received much criticism for its unmatched hostilities against Hezbollah and Lebanon, one could certainly argue that Israel was justified in taking those measures. On July 12, 2006, Hezbollah paramilitary forces engaged an Israeli patrol on the Israeli side of the border. This left three Israeli soldiers dead and two captured. Ehud Olmert, the Prime Minister of Israel, responded with systematic bombing s of southeastern Lebanon, which killed far more civilians than Hezbollah fighters. Hezbollah responded to these bombings with unsystematic, indiscriminate missile launches at towns and civilians in northern Israel. One side, the Israelis, endeavored to take away Hezbollah’s ability to fight. The other side, Hezbollah, vowed to keep going until Israel stopped its aggression. When the conflict stopped by UN ceasefire on August 14th, nearly 1,000 Lebanese were dead and nearly a million were displaced by the violence. The economies of both countries clearly suffered, especially with the destruction of vast infrastructures in Lebanon, which essentially put that country 20 years behind. Through this experience, however, one could certainly argue that Hezbollah was the winner, not Israel, despite the extensive damage done by the Israeli forces to Lebanon. Knowing that Israel’s objective during the July War was to destroy Hezbollah’s ability to engage in war and kill I sraeli civilians, Israel failed to more than temporarily diminish that ability. The Lebanese people grew to identify with Hezbollah through the experience, partly because they saw Hezbollah as their only protectors against the huge Israel. However, Hezbollah has been reportedly restocked with weapons from Syria and Iran, which means that this kind of conflict could restart at any time in the near future (Tristam, 2006). With Hezbollah’s increased support from other countries, it is a dangerous situation right now for Israel, who saw its reputation suffer deeply from the events of the July War. But even though Israel’s reputation suffered as a result of its actions in July 2006, one could very well argue, as many Zionists and supporters of Israel have done, that their actions were justified in the way of Hezbollah’s initial aggression (Bentov, 2007). Clearly, the killing of Israel soldiers by another military is an act of war. Unfortunately for Israel, Hezbollah is not a true â€Å"military† in the sense that it has a standing army. Israel then targeted their enemy as closely as they could, but failed to achieve the kind of precision that would have earned them victory. Perhaps Israel would have benefited from using tactical forces on the ground, and not using its air force to bomb targets in crowded urban areas. Despite that, it seems Israel was entitled to some

Change in Perception and Use of Information from the Internet Essay

Change in Perception and Use of Information from the Internet - Essay Example Reading a book or a long article used to be an easy task to many. The mind would automatically get drawn in into the narrative or argument turns enabling one to read for long periods of time sometimes without breaks. This is not the case now. Concentration gets often lost after a few pages of reading. The mind somehow shuts down and finds an alternative activity to do. Carr explains that long gone is the in depth reading that was the default brain setting. Carr sentiments are a true representation of the present series of events. People have lost interest in in-depth reading, not because they chose to, but because their brains just will not do it anymore (Carr 45). In the past, information got collected primarily by reading. One would have to read a book or the source of information inside out and in some cases repeatedly to lock the information obtained in the brain. This has changed now. One does not have to research or read widely in order to get information. It is all there on the internet. Information gets easily obtained through a click of a button. With a computer and access to the World Wide Web, information is literally on your screen. Sourcing information through the use of technology erodes whatever little that got left of the reading culture.

The Influence of Culture at Movie Translation Essay Example for Free

The Influence of Culture at Movie Translation Essay Outline Thesis Statement: Difference in eastern western culture causes a thing different in value orientation, Translation of a work of a movie gets a way of direct translation, and, its possible to admit for an audience. It’s need to changed the Culture in the movie. ?. Introduction: Chinas movie translation enterprise has passed through more than 50 year magnificent course, Movie translator offered many outstanding translated movies to the mass audiences. Through these outstanding translated movies, the audience while understood foreign land local conditions and social customs also to feel the language infinite charm, many splendid dialogues have become the beautiful line which struggled is on everybodys lips. If there will be bread. All would have. (the former Soviet Union film Lenin in 1918) has inspired generations of adversity live audience in China . Evidently, the film as the mass media, its social effects are incalculable. However, in academic fields, Because of the impact of secular bias, the film is certainly very cold : Translation Studies, Translation Studies seem to completely ignore this area for the. To this end, Chinas famous scholars Television translation Professor Qian Shao wrote that Television translation of the translation is far less atte nti on to literary translation. This translation of the Television disproportionate role in the community. This phenomenon frequently This should arouse the attention of the translation industry. ?. Language and culture. The language is a country culture carrier, reflects this countrys the political economy, the material culture, the religious belief, the manners and customs and so on. The language is different, the thinking mode, the behavior way as well as the language expression way is also different. This shows that the translation is not as simple as it is not only doing language, in which it stresses culture in the story. ?. Cultural reconstruction The movie translation namely has the general character with other literary work translation also to have its own particularity. Same is all is expresses in the thought with the language art, different is the movie translation needs simultaneously to achieve manifests in the writing, forms in the sound, expresses in the audience. ?. The culture touches up Strictly speaking, the translation of a film like filling a word, thinking the contents can not be altered. Each expression has the style Melody has also been strictly limited. If translator neglected I type of the law, regardless of the words priorities, said the mayor short, meaning the right can be, Well, the voice-over : guns, then there will be the following. ?. Conclusion : The choice of film translation modes largely contributes to the reception of a source language film in a target culture. The influences of culture factor are leading. the influences of objective factors on film translations Abstract: Difference in eastern western culture causes a thing different in value orientation,Translation of a work of a movie gets a way of direct translation, and, its possible to admit for an audience. It’s need to changed the Culture in the movie. Key word: Translation of a movie Culture gap Chinas movie translation enterprise has passed through more than 50 year magnificent course, Movie translator offered many outstanding translated movies to the mass audiences. Through these outstanding translated movies, the audience while understood foreign land local conditions and social customs also to feel the language infinite charm, many splendid dialogues have become the beautiful line which struggled is on everybodys lips. If there will be bread. All would have.  (the former Soviet Union film Lenin in 1918) has inspired generations of adversity live audience in China . Evidently, the film as the mass media, its social effects are incalculable. However, in academic fields, Because of the impact of secular bias, the film is certainly very cold : Translation Studies, Translation Studies seem to completely ignore this area for the. To this end, Chinas famous scholars Television translation Professor Qian Shao wrote that Television translation of the translation is far less attention to literary tr  anslation. This translation of the Television disproportionate role in the community. This phenomenon frequently This should arouse the attention of the translation industry. 1? Language and culture The language is a country culture carrier, reflects this countrys the political economy, the material culture, the religious belief, the manners and customs and so on. The language is different, the thinking mode, the behavior way as well as the language expression way is also different. The language in the sound film is the essential constituent, in the movie work the splendid dialogue, the fragment makes one be worth hearing a hundred times, cannot dismiss from mind for a very long time. The culture in the society on like the memory in the individual, was the people all feasible thing precipitation gets down in the past life, turned the language slowly, turns the writing, turns music, turns the custom, turns the construction, turns the clothing, even turned not the obvious thinking mode, did not affect the future thought, the experience and the motion. Language and cultural interdependent. Language is the crystallization of culture, culture is transmitted through language. Pragmatic exchanges as a medium for the inevitable translation different language deal can not but be with their respective culture communication. Translation understanding of the basic links and expression is subject to the original language and translated phrase structure rules, and their rules for the use of double requirement. Understand the results of the original language is the meaning and bearing the cultural information, It familiar with the original language of the rules and structure of the use of rules of the community, which can not be divorced from the original language of social and cultural factors; expression with the purpose of understanding found in the information with the target language in its social and cultural context for the effective exchange. It consistent with the structure of language translation rules and the rules for the use of the conditions, So in kee pin  g with the target language the social and cultural factors collide, the integration phase, therefore, the mission of the translation, in the final analysis, is a social and cultural context to get out and then enter a social and cultural context, and its appearance and the language is the language of communication, and the essence of culture and cultural exchanges. Therefore, the cultural translation by the point of view of language is the carrier of culture, culture is the language of the regulation, translation is culture and culture of dialogue, cross-cultural transmission. As such, the translator must be familiar with the two cultures. Translation cross-cultural communication is the intermediary links, culture and communication with the dual nature. And the dissemination of culture and integration, is like a wave-particle duality its tablets is a cultural, The wave is spread. (15) In other words, Culture and Communication each other for the survival of that culture is the spread of content, is culturally. cultural context of communications. Therefore, we can say this is the process of translating culture and the culture of dialogue, the dissemination of culture, translation itself is a culture, is spread occurs in the language exchanges in the process of cross-cultural communication. This shows that the translation is not as simple as it is not only doing language, in which it stresses culture in the story; We should not only understand one language, one culture, but also links the two languages, two cultures This is the minimum condition For this one, everyone is very difficult to do. Cultural Images a cultural symbol, it has a relatively fixed unique cultural meaning, and some are still rich with meaning Lenovo far-reaching, as long as the people I mentioned them, a tacit understanding between each other immediately, very easy to communicate ideas. phenomena and the implication of the two images is an important component. Phenomena is the significance of the information carrier, which was formed image of the objective facts; implies is phenomena in a certain language and the cultural environment of the extended meaning. Imagery that is the function in a variety of contexts, with concrete to the abstract performance, known or easy to know the unknown or enlightenment is difficult to know. If the Song Dynasty poet Su Shi, in his famous Ode of Chibi before, using such Ephemeroptera Chaoshengmusi small insects to describe life is short, people are very insignificant : Ephemeroptera sent to earth, there has been a drop in the proverbial bucket. English Proverb It is the last straw that breaks th e camel s back. meaning camel overloading, with a straw it will be crushed. Proverbs imagery words the last straw Finally a rice grass, and vividly symbolize of a people or something intolerable to the pole. 2? Cultural reconstruction The movie translation namely has the general character with other literary work translation also to have its own particularity. Same is all is expresses in the thought with the language art, different is the movie translation needs simultaneously to achieve manifests in the writing, forms in the sound, expresses in the audience. But Chinese, English belong the entirely different two big language families, Chinese are the glyph English are the alphabetic scripts. Movie translator must carry on the successful cut between these two kind of entirely different language families is not an easy matter. The cultural reconstruction finds at everywhere in the movie translation. The English movie ? Red Shoes? , mainly narrated an England ballerina cannot make the correct choice facing love and the enterprise, finally moves towards the cliff the chilly wan story. At first when domestic showing, the movie is translated â€Å"the red dance shoes†, although the literal translation is faithful to English original intention, also threads up the plot, but appears after all writes in a straightforward manner, arouses audiences any association with difficulty. Later period, the identical movie film title is translated on a foreign outstanding movie exhibition tour â€Å"the red water chestnut to be colorful†, thin savors thin, although the movie flipped the translator to compare with that double delicate red dance shoes the red water chestnut which the Chinese audience women and children all knew, the implication red water chestnut grew in the muddy water sludge, actually tender and beautiful enchanting, curved red water, justed like China ancient times females womans bound feet, the womans bound fe  et although exquisite, but condensed how many females tears of blood, some has even paid the life price for it. Therefore passes â€Å"the red water chestnut to be colorful† this film title to cause the audience to associate is putting on like the red water chestnut dance shoes dancing girl gorgeous actually star crossed. Translators ingenious borrowing â€Å"the red water chestnut† a word, the Chinese culture will graft the movie in the implication, the success has restructured one the cultural image which for the Chinese audience familiar, will comprehend, accepts[Www_LunWenNet_Com]. The American movie ? Waterloo Bridge? , described First World War period, young attractive actress Masurium La knew young military officer Luo on the Waterloo bridge to depend on, has combined to make or become the lover. But after, Masurium La learned Luo Yi died in battle the battlefield, is in deep sorrow, in order to survive reduces for the prostitute. When Luo appears according to the miracle, she is unable facing the reality, for love and the reputation, she arrives once more with Luo according to the first love place, got killed on the wheel billowing Waterloo bridge. It is well known, in 1817 England has made the Waterloo bridge in the Thames river bank investment, commemorates the Wellington duke by this to direct the English army to defeat the battle of waterloo victory which Napoleon obtains. If the literal translation film title is â€Å"the Waterloo bridge†, as soon as looked for the first time, the audience can think this is one goes to war the related war piece with Napoleon or is the introduction an  d this building related documentary film. In the Chinese several millennium cultural histories, with the bridge correlation love story, such as, the cowherd and the weaving maidens â€Å"meeting of lovers†, the Shanxi Province Lantian â€Å"the blue bridge meets† and so on. â€Å"The blue bridge meets† plot has places of the many equally good results from different methods with Waterloo the Bridge. Therefore the translator finally translates the film title â€Å"the soul to break the blue bridge†, has avoided the audience ingeniously because the city cultural difference, the historical perspective knowledge lacks losing which causes, as soon as borrows â€Å"the blue bridge† to cause the audience to see the film title instantly comprehends this is about love movie. British film Night Merry in the conversation: Peter: Oh, this? Well, I like privacy when I retire. Yes, I’m very delicate in that respect. Prying eyeeees annoy me. Behold the walls of Jerichho! Err, maybe not aaas thick aas the ones that Joshua blew down with his trumpet. I just show you my heart’s in the right place, I’ll give you my best pair of pajamas. Do you mind joining the Israelites? White said this is a very representative, because in the meantime, said there were Jericho walls, Joshua. Israelis and three Bible of the historical story of the words. As we all know, the prevalence of Buddhist East, particularly in China, Chinese viewers can get some idea of Buddhism, and the Western culture, especially the Western religious history knows very little about the culture. Hence the film switch for a moment the Chinese audience of the above three is a link between a difficult matter. They do not understand this, Jericho wall, Joshua and Israelis between what is the relationship. Literal translation for the above not only Chinese audiences Lee puzzling. It also lost the film translation of real meaning. To enable the Chinese audience aware of this three terms of relations so that the text of those involved in the special cultural imagery fullness, Translator in the film translation of this text as follows embellishment : Peter : this? I do not want to break the interference by others, in that regard I am very sensitive, others do not want to be peeped at. You see this as the Bible of the Jericho walls, Although not as good as the Bible Israeli commander Joshua trumpet blown by the thickness, than it much safer. You see, I did not bugle call, in order to express my impartiality, and I put my pajamas happens to the best of you right. You do not want the Israelis? Because of the Jericho wall, Joshua The Israelis from the Bible of the words added to the story the necessary cultural meaning Xiurun words, audiences not only understand the story of the source The next in the Context also realize a final word Israel refers to the specific. Xiurun strengthened the language in the context of transparency; Enhance the cultural image in the audience understanding of the definition. The movie translates the Chinese-adapted reconstruction the significance to lie in it to be able effectively to achieve promptly the movie work the concealed implication, causes the effect which the audience understands. 3? The culture touches up As a result of the East and West culture difference, movie translator should help the audience to understand as far as possible these with a nationalitys history, the region culture, the religious custom and so on have the close correlation language phenomenon. In if the movie translation does not do to certain specific cultural image any touches up processing, considers the matter in and of itself the literal translation, can create this cultural image the damage, the cultural implication is torn to pieces. American movie Waterloo Bridge, from the very beginning, has this kind of section of offscreen voices: Announceer’s Voice: At 11:15 this morning, the Prime Ministeer, speaking to the nation from Numbeer Ten Downing Street,announced that Great Britain is at war with Germany. Right â€Å"Numbeer Ten Downing Street† this concealment culture image geographic name does not give supplement showing the speech, believed the overwhelming majority China ordinary audience meets the uninformed at sea its cloud. First the audience does not know â€Å"Numbeer Ten Downing Street† in any place. Next, they did not know the radio announcer mentions â€Å"Numbeer Ten Downing Street† in here to have what special implication especially. In order to enable the movie translation to reach it in the limited time in the mass audiences. The translator suitably to above translates the document to appropriately supplements touches up, â€Å"Numbeer Ten Downing Street† will translate English prime minister the mansion. Through supplements â€Å"English prime minister the mansion†, causes the audience now at last truly realized â€Å"Numbeer Ten Downing Street† true meaning. Here, â€Å"Numbeer Ten Downing Street† conceals the image three-dimensional unfolds in audiences front, the audience understood only then truly has typically the terr ito ry culture geographic name â€Å"Numbeer Ten Downing Street† complete cultural connotation. Film translation somewhat like two-man, and the dramatis personae-mouth assembly actor voices sound, words and phrase as its mouth. Translation task is to provide a blueprint for the dubbing, asked to guarantee the accurate, vivid, touching premise, in an attempt to length Rhythm, ventilation, pause and even open-mouth, and other aspects of cooperation with the dramatis personae seek to speak expression, consistent tone, finally give the audience heard the sounds, to see people who know Which statement from the mouth. Translation must take into account a standstill, rhythm and movement, the characters, but also improved the formal and resourcefulness language, humor, intended implication, subtext. Finally, you need to think opera is staged, but also singalong. It is these elements give the script translation stage theater seeks to rebuild the formal beauty of character. Strictly speaking, the translation of a film like filling a word, thinking the contents can not be altered. Each expression has the style Melody has also been strictly limited. If translator neglected I type of the law, regardless of the words priorities, said the mayor short, meaning the right can be, Well, the voice-over : guns, then there will be the following : For example, too long phrase translation, dubbing can only accelerate the pace of drive the results become calm mind anxiously. the occurrence of the character shown impetuous lightly; Instead, the translation of long sentences too short, dubbing can only slow down the stall the results become agitated enthusiasm sluggish indifference able decisive become Had no resolution. and so on and so forth. 4? Cultural Image Conversion. Linguists believe that all the world to see the same objective, different ethnic languages will give it brush different colors. Because of this, the cultural dislocation images will be specific performance as a metaphor for the culture of body image on the difference. In other words, in a cultural tradition implies a positive image of a beautiful culture in another culture podiums become negative implication of the ugly Cultural Images. British film Wuthering Heights has this kind of a fragment Isabella: It’s a brother’s duty,dear Edgaar, to introduce his sisteer to some other type than fops and pale young poets. Edgar: Oh, you want a dragon? Isabella: Yes, I do. With a fiery mustache. In Translation dragon is the key word. In the English language, the dragon as a devil interpretation. Whenever the term and Western ideologies will immediately showed an ugly face of the devil are threatening manner toward humans, It is not difficult to see the dragon in Western language and culture implicitly pejorative. In Chinese culture dragon symbolizes the word elegance, and the supremacy of Italy, former emperor of the Chinese people to call the real dragon the emperor. Thus, the Dragon related to the majority of terms agreed with great reverence. If the Chinese refer to themselves as descendants of the dragon; Long for their children for the future of promising succeed. Dragon in the East and West languages, its cultural image of the natural implication is absolutely contrary. In short, although the phenomena, but the implication is completely different. Evidently carabiniere hard Translation dragon is clearly inappropriate. When the Chinese audience watching the film Humi he ar, carabiniere the word They certainly will immediately think of he may be the Royal Cavalry. But Yishabeila answer to allow the audience to the films elaborate those induced by consciousness altering clouds. Viewers can not help but ask : The upright Royal Cavalry, is how a red-hot long-bearded? In Chinese tradition, history and culture, Only those who have more heads and hands of a terrible monster green eyebrows, red bearded face. Such copying can not handle things to the language and the cultural dislocation Images of the thorny issues, also not translated this vividly the true meaning of dialogue, but to the semantic context of the link set up a language barrier. Therefore, in the cases of China and Egypt and Yishabeila increase in the last paragraph of dialogue might translate as follows : Edgar : Oh, you want a dragon Oh, you do not want to marry a barbarian! ?Isabella : Yes, I do. With a fiery mustache. Yes, also a long-bearded red-hot. As the East-West cultural differences, the film tr ans lation of many English words if the hardware directly translated, will make the Chinese audience unacceptable and endorsements. In addition, the film version of the translation of film screen switching time constraints, not as translated literary works, in some obscures Office to make some notes, so we will have to give white audience : a, a view that is fully understood. The translator should be based on national audience from the audience were dubbed in Tibetan taste to appreciate the art of perspective, Selection of the national language and the original art is most similar to the unit, most close to the national audience for the familiar, readily accept the terms and cultural imagery to the film translation. In summary, in the Trans-Culture background must accurately express the implication which the movie must reflect, macroscopically, the translator wants to understand the culture contains, the translation elementary theory and the skill, and in on microscopic must observe the different language family carefully the national culture tradition, the cultural content and the cultural psychology difference performs to contrast and the analysis. Only then in considered the foreign land culture under the premise â€Å"the letter, reaches, elegant† merges into one organic whole, causes the translation â€Å"the god, the shape† and the cyclopentadiene, like this can guarantee the culture â€Å"the facsimile† the realization, can complete the cultural translation truly. References 1? Huzhengrong,? General Communication? [M], Beijing Broadcasting Institute Press,1997 2? Zhouyueliang,? Ancient Chinese Culture History? [M], Beijing Broadcasting Institute Press,2000 3? Fanzhongying,? Practical Translation? [M], Foreign Language Teaching and Research Press,1994. 4? Dengyanchang? Liurunqing,? Language and culture? [M], Foreign Language Teaching and Research Press,1989 5? Wangbinqing,? Cultural Translation? [M], Nankai University Press,1995 6? Chendehong? Zhangnanfeng,? Featured Western Translation Theory? [M], City University of Hong Kong Press,2002 7? Guojianzhong,? Translation of cultural factors? [J],? Foreign Language? ,1998 8? Hugongze,? Translation Theory of Evolution and Development? [M], Shulin Publishing Limited,1994 9? Wanghongzhi,? Re-interpretation of the letter Dayaxin : 20th-century Chinese Translation?  .

The Chocolate Market Industry Economics Essay

The Chocolate Market Industry Economics Essay The chocolate market industry has been around in the UK since the 19th century. Since then, many different firms have developed and established themselves in the market, resulting in a competitive market. Therefore, this project will focus on how the UK chocolate market structure has changed and evolved over the years and the causes of this. Our project will be mainly based on analysing the chocolate company Cadbury and their trend in sales, along with other factors which has caused the takeover of Cadbury by Kraft Foods. From this, we will be able to determine the factors which caused the change of market shares original Cadbury has. Outline the trend in sales by the major chocolate manufacturers in the UK over the last 10 years, and analyse the structure of the UK chocolate industry. Western Europe is the largest chocolate market in the world (Haymarket Network Ltd. June 2012) and Britain has the biggest confectionary market among the European Union(Barnett 2006). Moreover the UK has the seventh highest consumption of chocolate in the world. The average Brit consumes 17.49lbs of chocolate per year (The World Atlas of Chocolate 2000). Since the last ten years the chocolate confectionary sells has grown significantly. During the period of 2000-2005 the compound annual growth rate for chocolate sales in percent was approximately 2.5% Euro. The estimated value of the sales for 2005 was à ¢Ã¢â‚¬Å¡Ã‚ ¬6,214m (Euromonitor International 2005). Additionally, according to Mintel UK market research firm, the chocolate market in the country reached  £3,976 billion in 2011, a 21% increase over a five-year period and 7.5% growth since 2010. As the people seem to continue purchasing chocolate, even more than before, this is certain premise for involving huge chocolate players in strive for bigger market share in the country. In the last ten years the chocolate market in United Kingdom was dominated by several companies. Since 2010, when Kraft took over Cadbury, three companies dominated the market with control over 83 percent in 2011 Nestlà ©, Mars and Cadbury/Kraft. Figure 1. Percentage of market share in the UK chocolate industry (Trading Visions 2011) Other big companies involved in the UK market are Hershey, Thorntons, Ferrero, Lindt, Divine chocolate and others. The Mintel released table in 2012th explains more detail the changes in the market chocolate share during the last couple of years. 2009 2010 2011 (est) % change  £m %  £m %  £m % 2009-11 Kraft Foods (Cadbury) 1,187 33 1,252 33 1,297 33 9.3 Mars 953 27 1,005 27 1,073 27 12.6 Nestlà © 585 16 606 16 646 16 10.4 Ferrero 130 4 126 3 129 3 -0.8 Thorntons 68 2 75 2 74 2 8.8 LindtSprà ¼ngli 49 1 60 2 63 2 28.6 Total of the above 2,972 83 3,124 83 3,282 83 10.4 Others 375 10 404 11 423 10 12.8 Own-label 228 6 244 6 271 7 18.9 Total 3,575 100 3,772 100 3,976 100 11.2 Figure 2. Percentage change in market shares in the UK chocolate market, by value, 2009-11 (Mintel 2012) The fragmentation between few large companies in the chocolate confectionary industry is a sign for oligopolistic structure of the market. During last 10 years, the situation changed several times. Brand owned by Cadbury, Daily Milk, grew 11,7% from  £374m to  £418m in 2010 while Kraft brandsMilkà Ã‚ ° sales increased from  £8,7m to  £21,3m according to Miggiano (category vice-president for chocolate in the UK). Normally an oligopoly exists when the top five or less firms in the market account for more than 60% of total market demand/sales (Econ 100 n.d.). Therefore it can be concluded that the situation of the market structure is certainly an oligopoly. A typical characteristic for oligopolistic competition is the big amounts spent for advertising. The leading company Cadbury spends millions for advertising every year, for example for their new chocolate bar Crispello they have prepared 7 million £ from their budget (Mail online 2012). In the UK chocolate industry there are known to be several barriers to entry, contributing to the structure of the market. The huge capital needed for starting business in the market is the main obstacle for new firms. Advertising and marketing could also be classed as a major barrier to entry, where concerning the oligopolistic confectionary firms. This is because some companies may have the financial power to win over consumer loyalty with their expensive branding. Therefore, the contestability of the market can be questioned as market firms with well- established, branded products make it rather difficult and more expensive for new firms to enter into the market successfully. However there are a lot of chocolate firms in the industry, with small profits and share. An example is the Divine Chocolate company, which is well known for its fair trade policy. Explain why Kraft Foods wanted to take over Cadbury. To what extent do you think the arguments against this takeover were valid? Cadbury is known to be one of the largest confectionary companies in the world. The British owned company was founded in 1824 and has been in existence since. However, in February 2010, Kraft Foods Group a reputable company within their own rights took over the multi-billion pound business, which caused significant outrage. The unprecedented event meant that Cadbury did not expect other firms to bid for the company, especially when it was not for sale. However, Kraft Foods had other intentions stating that The British confectioner offers Kraft greater access to sharp growth in emerging markets as well as some of the worlds leading chocolate (Ruddick 2010). It is therefore, evident that Kraft wanted to takeover Cadbury purely for economic gain, and to raise the companys profile and reputation amongst other respectable markets. Kraft Foods felt this was the perfect opportunity to do so and as a result, forcefully imposed a deal on Cadbury which they felt was sufficient enough for Cadbu ry to transfer/ give up their assets (company). This is also evident in this statement which mentions that Not only was Cadbury not for sale, but it actively resisted the Kraft takeover (Moeller 2012). Additionally, recent information suggests it is also debatable whether arguments in opposition of the takeover were valid, particularly due to Cadburys profits increasing in recent years. Telegraph staff and agencies (The Telegraph 2012)indicates that the purchase of Cadbury by Kraft allowed for Cadbury to be reinstated into the global market where consumerism remains at large. Kraft has reported strong sales and profit increases in the first full quarter since it took over Cadbury. Sales rose 25% to $12.3bn ( £7.75bn) in the three months to 30 June, and Cadbury accounted for 90% of the gains. Net profits were up 13.3% to $937m ( £590.1m), compared with $827m ( £521m) in 2009 (Barker 2010). Thus, allowing for Cadbury to expand and increase its profitability. It can therefore be said, that although some felt apprehensive towards the move of Cadburys ownership, it seems to have been for the better. With MP Steve McCabe even stating I think the investment is whats crucial to the l ong term future, and pointed out that Kraft had also expanded the research and development section. On the other hand, Now, nearly two years on since the hostile takeover in February 2010, the firm has announced a further 200 job cuts, the company has given no specific assurances over the future of 4,500 UK jobs (BBC 2011). Therefore, suggesting that those against the transfer of the company did undoubtedly have reasons to be concerned. An additional article even goes further to suggest Kraft already has a track record of cutting production and moving production abroad. Theres no guarantee that theyll keep production in the UK in the long run (BBC 2010). This indicates that there were implications of giving permission to Kraft to handle the company. Yet, this risk was still taken instilling fear in workers who were already apprehensive of this transition. This suggests arguments against the takeover were indeed valid. Overall, it can be argued in this section that although Kraft, being a well-established company with a strong portfolio to build upon, it caused much controversy in its takeover of Cadbury. The addition of Cadbury to the firm means that Kraft is able to emerge in markets successfully that they were restricted from before. Many argued that the takeover allowed for Cadbury to develop further into global markets rather than remaining in the UK. The company became increasingly profitable and as a result, a popular one in which many are interested in investing. However, with the good comes the bad and in a situation as such, it meant that the UK staff of Cadbury were at risk of losing their jobs. This would occur if Kraft moved the Cadbury business abroad, which has partially occurred since. Kraft has produced good results for Cadbury but not without causing implications in the UK (where Cadbury originates from). It can be stated from the research evidence that the intentions behind Kraft s takeover of Cadbury are quite clear and the opposition arguments of the UK Cadbury staff and the UK government are most certainly valid as displayed throughout this section. On a chart show what has happened to the UK pound (sterling) against the dollar between December 2007 and September 2012 Source: Bank of England Using a supply and demand diagram, explain this change in the sterling exchange rate against the US dollar. The exchange rate is the rate at which one currency trades for another on the foreign exchange market. On the open market prices of goods, commodities and value of nations currency (under a floating exchange rate) are subordinated to the control of two forces- supply and demand (Sloman:360). Generally, the exchange rate is determined by the fundamental law of the market forming an equilibrium rate (price) by equating demand and supply of the currency. One of the primary laws of supply and demand indicates that high supply causes low prices and high demand results in high prices. This fact implies that when there is a rich supply of a particular good then the price should fall and vice versa. The price increases when there is a scarcity of the product. Consequently, an increase in the demand of a commodity would cause it to appreciate in value, whereas an increase in supply would cause it to depreciate (Capital Market Services 2012). The change in the exchange rate of UK pound sterlin g to US dollar can be explained using a basic supply and demand diagram.1.jpg Figure 1 Figure 1 shows a normal downward slopping demand curve. A decrease in the price of the pound in relation to dollars from $2 to $1 will cause British exports in the USA to become much cheaper than the domestic product. The demand for British export will rise in the USA, and in a result, the demand for British currency to buy these goods will increase, as the Americans will have to exchange their money for British pounds. Thus, at lower prices (lower exchange rate) more pounds will be demanded, and vice versa. Movements up the vertical axis represent an increase in price of the pound, which is equivalent to a fall in the price of the dollar. Similarly, movements down the vertical axis represent a decrease in the price of the pound (Capital Market Services 2012). 2.jpg Figure 2 Figure 2 describes the supply side of the determination of the exchange rate. When UK importers wish to buy goods from USA, they will supply pounds on the foreign exchange market in order to obtain dollars. The higher the exchange rate, the more dollars they will get for their pounds (Sloman 2009:360). If the price of pound in relation to dollar rises from $1.50 to $2, price of imports from the USA will fall. Assuming the price elasticity of demand for the American imports is greater than one, the amount of pounds that UK consumers will need to supply in order to obtain the dollars to buy the goods- will rise. The supply curve slopes up because British firms and consumers are willing to buy a greater quantity of American goods as the dollar becomes cheaper (i.e. they receive more dollars per pound). Thus, the higher the exchange rate, the more pounds will be supplied (Sloman 2009:360). 3.jpg Figure 3 Based on Sloman 2008:162 Suppliers and consumers meet at a particular quantity and price at which they are both satisfied, known as the equilibrium price pictured by Figure 3. At any higher price there would be an excess supply of British pounds that would drive price down. A lower price would cause a shortage of pounds driving the price up. In practice, the process of reaching equilibrium is instantaneous. The foreign exchange dealers working for the banks are incessantly adjusting the rate as new customers make new demands for currencies (Sloman 2009:361). 4.jpg Figure 4 Based on Sloman 2008: 161 A change in the exchange rate is caused by any shift in the supply and demand curves. When the demand and supply curves shift from D1 and S1to D2 and S2 respectively the exchange rate will fall from $1.60 to $1.40. A decrease in the free-market exchange rate is called depreciation, an increase is an appreciation. Explain the impact of this change in the value of sterling against the US dollar on a UK chocolate manufacturer who buys cocoa beans which are priced in dollars Appreciation of pound against dollar is most beneficial for importers, like given UK chocolate manufacturer who buys cocoa beans priced in dollars. They are advantages as they need to find fewer pounds to buy their imported goods. Depreciation of home currency makes foreign buyers disadvantages as they need to find more money to pay for their imports (tutor2u). Therefore, in this example the best time for foreign investments was between December 2007 and June 2008 when the pound exchange rate was the highest. Outline the causes of the current recession in the UK. Using relevant economic theory show how recession affected the UK economy. Economist and experts still disagree on the definition of recession. However, technically speaking, the economy of a country would slide into recession when it experiences two continual quarters of negative economic growth. This happens when the GDP would have to contract on a quarter by quarter basis for a total period of six months. GDP (gross domestic product) is the total amount of goods and services produced by a country in a given period of time. The credit crunch that began in August 2007 brought recession in Britain and other countries across the world. Soon everything worsened dramatically and turned into global financial crisis in the autumn of 2008. The recession started in America where mortgage companies got into massive debt by giving out many subprime mortgages. They then bundled this debt on to other countries such as the UK by borrowing from abroad to finance this risky lending.The central problem of UK was Britains banks, which had invested their reserves in those bundles or effects that turned out to be unsafe, illiquid or even worthless. As UK banks began to struggle, the government allowed them to lend to each other to promote liquidity. They did not know that this would result in even more debt and tension between the banks. Consumer confidence dropped dramatically down. Along with the overvalued housing market finally failing, consumption began to fall.The British economy was officially declared to be in a re cession in January 2009, when the Office for National Statistics (ONS) announced that the estimate of gross domestic product (GDP) showed a fall of 1.5 per cent in the last three months of 2008 after a 0.6 per cent drop in the previous quarter. This was the biggest quarter-on-quarter decline since 1980 and the first time the economy had been in recession since 1991. ONS figures show that GDP fell by 2.4 per cent in the first quarter of 2009 compared with the last quarter of 2008. GDP fell by a further 0.7 per cent in the second quarter of 2009, leaving the level of GDP 5.5 per cent lower than in the second quarter of 2008, the largest annual fall on record (ONS 2009). It was the deepest recession since the war. The Manufacturing output was down 7% by end 2008. It has affected many sectors including banks and investment firms. Many well-known and established businesses went bankrupt. Britain has struggled to come out of the latest recession, with much speculation of a double dip recession during the 2010s. Output fell by 0.5% in the 4th quarter of 2010. The unemployment rate rose to 8.1% (2.57m people) in August 2011, the highest level since 1994. As of January 2012[update], after 15 quarters, GDP is still 4% down from peak at start of recession. And now end of 2012 there are also speculation of a triple dip recession. Explain the statement about cocoa, referring to the relevant types of elasticity. Supply conditions play a big role in terming the price of chocolates. Since Cocoa is a farm product it is subject to fast-developing changes in growing conditions. Ivory Coast is the biggest and Ghana the second biggest producer of cacao therefore if any viruses, like the stunted shoot disease, or any bad weather conditions affect their harvest will have consequences on the chocolate prices. On the other side good weather conditions will boost supply and drop the prices. Unpredictability of prices is increase by the fact that chocolate demand is very inelastic. In the US, short-term elasticity of demand has been estimated at about -0.2, and is even lower in some big European consumer countries (Henri Jason 1994). When demand is inelastic, even a small shift in the supply curve can produce a big change in the market price. IEoD = (% Change in Quantity Demanded)/(% Change in Income) Another factor that determines the prices of chocolate is the strong income elasticity of demand. For example in the United States, a 10% increase in income has been estimated to increase per capita chocolate consumption by 9.2% (Henri Jason 1994). Income elasticity is not lot different in other countries. The recession makes people believe they should spend less and most of the cases people do earn less money or they have recently lost their job because of the financial crisis. Therefore they have less to spend. This will affect their choice between normal goods and luxury goods. If chocolate becomes too expensive they might become luxury good for some people, at the moment it is a normal good for most people. undefined Source: tutor2u As a part of your conclusion, assess the future of the major chocolate companies inthe UK. Do you foresee future growth, stagnation or decline? Overall, it is evident that many factors influence the chocolate market in todays world. In recent years the best market decision by various chocolate companies was offering a variety of products to the consumer market. This strategy led to big profits for the biggest players in the industry, as they could afford the expensive advertising for their products. However, the trend for chocolate purchases has not slowed down regardless of the economic situation. In fact opposite to logic, people seem to have taken advantage from chocolate products in the recession, as they have spent more time staying home during the hard times of the British economic stagnation. On holidays such as Easter and Christmas, purchases for some specific products has doubled, tripled or even more compared to the rest of the year. According to professional investigators of the chocolate trends, like Mintel, the future of the chocolate market in UK will face a growth in the next several years. However, as a group we believe based on the evidence from this project, that the UK chocolate industry could potentially be dominated by foreign companies, resulting in stagnation for British chocolate companies.