Critical Analysis Of Shariah Compliance Filters Finance Essay - Free Essay Example

Sample details Pages: 6 Words: 1778 Downloads: 6 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? The Shariah Compliance Filters were developed under the supervision of known Islamic scholars and Islamic Finance specialists. These filters were based the criteria for our research since they are the only known criterion for a company listed on a stock exchange to be classified as Shariah Compliant if all six filters are passed. There is not much information given about how these filters were formed or what were the aspects taken under consideration in their formation. As we continued our research and studied the filters more closely, there were a lot questions raised about the background of these filters. Don’t waste time! Our writers will create an original "Critical Analysis Of Shariah Compliance Filters Finance Essay" essay for you Create order Here we would like to shed some light on some of the things that we believed were worth discussing and looked to be missing among the six filters. Screening Criteria # 1: Business of the Investee Company In order to judge the Shariah compliance of any counter-party, it is important to consider the nature of the business it is engaged in. When it is an investment in equity, the investor automatically becomes responsible for the way business is structured. The Shariah categorizes certain commercial activities as impermissible or haram for Muslims. This impermissibility makes the investment in the shares of any company engaged in such activities as its main business, is clearly prohibited in Islam. There are cases when a company is engaged in haram activities, and as part of the operation they have to indulge in actions which are not allowed. On the other hand, a company maybe involved in an activity that is allowed but has a subsidiary or investments in another company, which may be involved in non-Shariah compliant businesses. Conventional ulema do not authorize investing in a company whose operations are haram to any extent. Whereas some other Ulemas allow investment in equities of companies which derive a minor part of their income from prohibited activities, as long as such activities are not the main area of business. So far other ulema agree to such respite only if the same can be justified on grounds of maslahah i.e. public interest. But exception is made if the activities are as invasive in the society as the evil, hard to avoid. For example serving alcoholic drinks. Some things that need to be taken under consideration: a) Debt availed by the company; b) Interest and other suspect earnings of the company; c) Extent of cash and receivables with the company. Keeping in view the above discussion, it clarifies the aspect of what business a company does and if that business is Halal or not. Very clearly it states in the Holy Quran that alcohol is strictly prohibited, so if a company deals in a business of alcohol, it is Haram. Similarly, any company whose core business runs on interest (riba) is also Haram. All this is well explained, but now we move on to things that have not been clarified and most of which are a common practice in our world today. Let us first look at the aspect of bribery. Bribery has also been strictly prohibited in Islam. There are a lot of businesses that according to the 1st screening criteria are Halal, but are they still Halal if these businesses are dealing bribery? There is no answer to that in this. Another argument is that if a brewing company makes and sells alcohol, it is creating work opportunities and contributing to the development of the society. Reminded that consumption of alcohol is prohibited, and there are religions and cultures that promote the drinking of alcohol, so if a company is producing and exporting alcohol, should it really be termed Haram? Answers to these questions are unanswered by the Ullama and these filters do not address them. All this seems very easy, if the companys core business is according to the teachings of Islam, it is Halal, what about its operations? Shouldnt the operations of the company be also taken into account? It is agreed that it is difficult to take such aspects into consideration but then the basic purpose of these filters in our perspective is not achieved. Screening Criteria # 2: Market price/Share Net Liquid Assets/Share Net Liquid Assets / Share = T.A F.A Inventory CL LTL / No. of shares outstanding Market price of the share must be greater than the net liquid assets per share. It implies that the company should invest its excess liquid funds in its operations i.e. buy the assets for which the company acquired funds from the general public. This will decrease the ratio of net liquid assets per share. Similarly, effective operational performance will increase profitability of the company and this will be reflected in higher ROE, ROI, ROCE, and EPS etc. This will push up the demand for the companys shares and the market price of that company will eventually increase enabling the company to meet this ratio. Comparing the market price to the net liquid assets again does not make much sense in the accounting or financial term. The market price is an external determinant where as the net liquid assets are in complete control of the company. If a company wants to manipulate its net liquid assets, it can very easily do so, where as the market price is determined by the market as a whole. So comparing these two ratios dont make much sense in the conventional finance. A lot factors among the net liquid assets can turn out different for different companies. Not every company uses the same accounting principles. A change in the reporting method can and does bring about a substantial difference. For example a company that uses a straight line depreciation method could have a different value then a company reporting declining method. If a company manipulates its reportings in such a way only to become Shariaah Compliant, is this considered Halal? Similarly, recording the inventory in the LIFO, FIFO or Weighted Average can change the end of year inventory. No solution to deal with this has been specified. It is again taken into consideration that such matters are out of the reach of the researcher. The basic aim of the company is to serve its share holders and is market price to net liquid the correct way to judge that? Earnings per share can provide a good view so as to how the company is doing and how it is serving its share holder. There is no denying these filters, these are only the questions that have not been answered by the shariah council and in todays world everything needs to have a logic, not everything can be relied upon blindly. There has to be solid grounds on which such criterions are to be built. This is the basic aim of this critique. Screening Criteria # 3: Illiquid Assets/Total Assets 0.20 or 20% Illiquid Assets = TA Liquid Assets (Cash, Cash equivalents, A/R, Advances, B/As etc.) Illiquid Assets are tangible assets that are not liquid. Examples include plant, machinery, inventory, building, furniture, fixtures etc. It implies that the company should invest the funds it generates from the public to invest in the tangible assets. An increase in the number of tangible assets gives the signal to the public that the company is or is planning to expand its operations and hence this sentiment can attract investors and push up the market price of the companys shares. Furthermore, this will increase the depreciation expense of the company and hence it will decrease the corporate taxes the company needs to pay to the government. The ratio of illiquid assets to total assets should be greater than 20% is more of a way to show the public that if the ratio is more than 20%, the company is or planning on expanding, which is a good sign. But is this ratio really a criterion for the company to be doing well? A company that owns more than 20% assets could also be going through high losses and not meeting the hopes of the investors. Also, it has also been seen as a common practice to overvalue the assets in order to show more worth. In such a case the company would looks stable and growing where as it is only trying to get the market price of its shares on a rise to attract investors. As discussed before, such manipulations in the financial statements of a company are the responsibility of the company. If a company is not being honest about its financials, should it really be classified at Shariah Complainant? The shariah advisory board must have done their homework when these filters were created, it is obligatory on them to address these problems before these filters are considered bogus. Screening Criteria # 4: Non-Compliant Income 5% of Gross Revenue Non Compliant Income includes interest; income from gambling, conventional interest based derivatives, structured products and other such instruments, income from nightclubs, prostitution, casinos, tobacco, alcohol, drugs, dividend income from above mentioned businesses etc. However, Capital Gain on scrips of such businesses need not be purified. If investments from the non-compliant businesses will be divested, it will decrease the income ratio of non-compliant income to total income. The qualitative effects of such disinvestment will be the improved image of the company in the eyes of all stakeholders especially the shareholders, creditors and the customers. Screening Criteria # 5: Non-Shariah Compliant Investments 33% of Total Assets Non-Shariah Compliant Investments include investments in money market funds, money market instruments, bonds, PIBs, FIBs, CoIs, CoDs, TFCs, DSCs, conventional speculative derivatives and structured products etc. If investments from the non-compliant businesses will be divested, it will decrease the ratio of non-compliant investments to total assets. The qualitative effects of such disinvestment will be the improved image of the company in the eyes of all stakeholders especially the shareholders, creditors and the customers. Screening Criteria # 6: Interest Bearing Debt 40% of Total Assets Interest Bearing Debt includes Bonds, TFCs, Conventional Bank Loans, Finance Lease, and Preference Shares etc. Debt financing is a double-edge sword. Leveraged companies can magnify their returns in booms, but in slumps, they lose the edge and can even go bankrupt and make both their shareholders and creditors suffer. Debt financing results in a zero-sum game in which at least one stakeholder i.e. shareholders or creditors suffer. Equity financing ensures normal returns in booms and survival in slumps. Therefore, the company will not be squeezed of liquidity as interest expense as an autonomous expense will not feature as a significant portion of total operating expenses. All the above mentioned tests are to be passed in order to be categorized as Shariah Compliant, if any one of the test fails the company will be taken as non-Compliant.

The Political State Of America - 1825 Words

Although the Americans tried to stay neutral during the First World War they were forced to join due to the actions of Germany, and as a result they gained recognition as a major economic power. There was a struggle among the great powers regarding who would gain the support of the Americans, and eventually the allies won not only the aid of the Americans but also the war in general. The entry of the United States into the war was greatly debated among congress, leaders and the public but after the harsh acts committed by the Germans it made the decision easier. The financial state of America is very critical in assessing how they aided the allies and came out as a major power. Before entering the war, Americans tried their best to stay neutral and also attempted to stay free from any actual fighting. The U.S. leaders had agreed that the country would stay on the sidelines, instead of actually entering warfare . Americans were very concerned about going to war, as it would create a h uge change in their lifestyle. Not only would their social lives be disturbed but also the financial aspects of the state. The American economy had gone through a very hard time, a sort of panic, by it was slowly followed by a recovery period which allowed the Americans to contribute to the allies’ success. Due to the early industrialization of the U.S., American companies were not only able to provide war materials to allies but also were able to prepare for war themselves, if necessary. ManyShow MoreRelatedThe Political Party Of The United States Of America1590 Words   |  7 PagesThe nature of the political party system in the United States of America, the oldest democracy in existence, is that the majority party rules. 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This paper seeks to discuss the impacts that the United States had on the Americans

Drama Coursework on Education The Response Phase Essay Example For Students

Drama Coursework on Education The Response Phase Essay The topic presented to our drama group for this piece of coursework was education. A topic which we ourselves as pupils have much experience of, education plays a central role in modern society ultimately preparing each generation for adult life. Yet the educational system we experience today in the UK is profoundly different to the educational systems of the past and indeed, the educational systems of third world countries such as Africa. To explore educational issues and some of the similarities and differences of other educational systems in relation to our own, we were given a variety of stimuli, and it is these I will discuss. We looked at several different views of education from several different time periods, and explored them through the medium of drama. The first stimulus was in the form of a talk from our drama teacher. Her experience of education was from the 1960s and from a Catholic convent. A key difference which I noted between her education and our educational system today was the level of discipline enforced. Another important difference was the level of respect for teachers, and indeed other pupils. As our class discussed the issues raised from the talk, we decided bullying was an important issue raised from the discussion. To explore the idea further, we experimented with the technique of having a conscience alley. The idea behind a conscience alley is to have characters inner thoughts and insecurities spoken as they walk past. This technique gives the audience a real insight into the characters emotional state. As a class, we first used the character of a victim of bullying, and then of a bully. For the victim, we reinforced their sadness and lack of self-esteem by saying phrases such as useless, ugly, youre nothing. For the bully, we tried to explore the reasons behind his behaviour, and the possibility that he was doing it because of his own insecurity. I found this an extremely useful technique, particularly for unearthing to the audience a characters inner-feelings. Our second stimulus for this unit of coursework was a series of songs, most of them written around the 1960s. We were given their accompanying lyrics, which we were able to follow and contemplate whilst listening to them. To give us a broader perspective of different attitudes towards education, the two songs were written from two different points of view. Whilst the first song by the Smiths contained the attitude of a dismayed pupil, the second featured a desperate and harassed teacher. The first song is entitled The headmaster ritual and was written by the Smiths as an uncompromising attack on the brutality present in Manchester schools. It portrays teachers as sadistic and malevolent, describing them as Spineless swines, belligerent ghouls and even Bastards. I think the attitude of the head teacher in song is in many ways reminiscent of Charles Dickens caricatures; sadistic teachers, the victimisation of pupils and the consequent impoverishment of a childs education. The listener is reminded of the dark side of education, the side where teachers abuse their position and power for their own gratification. In stark contrast, the second song featured the attitude of a harassed teacher. Written and performed by Morrissey, the song demonstrates just how much of a problem bullying in the classroom can be, and how this is not necessarily restricted to just pupils. It is entitled The teachers are afraid of the pupils and leaves us with a good idea of the trials and tribulations teachers have to regularly face. Contrary to the record released by the Smiths, the lyrics of the song suggest that the educational system is far too favoured towards the interests of pupils: Say the wrong word to our children and well have you. This inability to enforce discipline inevitably results in the escalation of bad behaviour, often in the form of violence or threats towards the teacher. For example, he receives a nail through the staff chair. .u7ad1551c973cbaf10a08f19609449838 , .u7ad1551c973cbaf10a08f19609449838 .postImageUrl , .u7ad1551c973cbaf10a08f19609449838 .centered-text-area { min-height: 80px; position: relative; } .u7ad1551c973cbaf10a08f19609449838 , .u7ad1551c973cbaf10a08f19609449838:hover , .u7ad1551c973cbaf10a08f19609449838:visited , .u7ad1551c973cbaf10a08f19609449838:active { border:0!important; } .u7ad1551c973cbaf10a08f19609449838 .clearfix:after { content: ""; display: table; clear: both; } .u7ad1551c973cbaf10a08f19609449838 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u7ad1551c973cbaf10a08f19609449838:active , .u7ad1551c973cbaf10a08f19609449838:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u7ad1551c973cbaf10a08f19609449838 .centered-text-area { width: 100%; position: relative ; } .u7ad1551c973cbaf10a08f19609449838 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u7ad1551c973cbaf10a08f19609449838 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u7ad1551c973cbaf10a08f19609449838 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u7ad1551c973cbaf10a08f19609449838:hover .ctaButton { background-color: #34495E!important; } .u7ad1551c973cbaf10a08f19609449838 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u7ad1551c973cbaf10a08f19609449838 .u7ad1551c973cbaf10a08f19609449838-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u7ad1551c973cbaf10a08f19609449838:after { content: ""; display: block; clear: both; } READ: Response to: Ernest Hemingway's The Old Man and Th EssayTo further explore these stimuli, we devised in groups a series of still images. This forced us to use gestus, a Brechtian principle that involves the use of exaggerated physicality in order to convey the particular attitude of a character. The still images were very much focused towards the reversal of power, showing the profound contrast between the attitudes present in the two songs. We started out with the idea of militant and tyrannical rule in the classroom, working in pairs within the group to produce three scenarios of bullying. The particular one I was involved with was the beating of an absentee from a gym l esson. Playing the part of a sadistic teacher, I used large arm movements and tense facial expressions to convey my unquestioned authority and malevolence. Each of our still images designed around the teachers bullying the pupils then morphed into new images of the pupils bullying the teachers; this was reminiscent Morriseys song. Not only did this exercise help explore the contrast between educational attitudes, but it also increased our discipline as actors. This was due to the fact that we had to promptly change our gestus in order to convey the attitude of an entirely different character.

The Role of Sampling in Statistics Essay Example

The Role of Sampling in Statistics Essay In statistics, a sample is a section of the subject chosen for a study.   In most cases sample will to be taken because a given subject area to be researched has a large number of participating population.   If a decision is made to make some kind of a study on a given subject, a population for example, it is easy to take a sample and work with the sample to arrive at whatever is intended on the outset, which in most cases is to make a statistical calculation that could be about the samples opinion on a given subject matter, such as voting for example.   The reason why taking samples is important is because of the large number of the population or groups that will be targeted.   Such a process of obtaining information to infer and extrapolate an outcome from a collected data goes by the name known as sampling.   There is always effort exerted to avoid bias when taking samples, which means the outcome of the finding will have to be unbiased as much as possible and that is wh en the accuracy of the data could be relied upon.   [1] If someone wants to make a certain study that pertains to women and if the sample is taken only from women who are working in an office environment, it will miss its target, and will not be representative, because the bigger population of women might not be working in the office.   There are stay-at-home moms, there are those who are working in various fields that do not involve working in an office environment, there are those who could be unemployed and cannot be included in the sample that will be taken from offices.   The solution for this problem is to make the sample random or a probability sample because it will be a better representative of the diverse women population and those that are not working in the office could also be included. We will write a custom essay sample on The Role of Sampling in Statistics specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Role of Sampling in Statistics specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Role of Sampling in Statistics specifically for you FOR ONLY $16.38 $13.9/page Hire Writer When dealing with samples the first key aspect to pay attention to is â€Å"external validity†, which focuses on the approximate truth of the conclusion or how the conclusion will be applicable to other subjects that are in different places, and how it would hold if used at a different time.   There are two known general approaches to arrive at a conclusion through a finding made by conducting a research.   The first one is sampling model where like it was mentioned, it is possible to target a subject or a population and take a sample to conduct the required research and most of the time the finding could be relied upon and could be used to arrive at a conclusion.   But it is possible label the sample as biased, which means no matter how careful the process had been, there is a possibility of a bias.   [2] The other approach called Proximal Similarity Model that was suggested by Donald Campbell can be used to take varied samples by keeping in mind different components of the general subject, population or locations, or different times in the future.   This is if the subject are people who are not in the group when the sample is being taken they will be kept in mind in such a way that the finding will have relevance to them too. The same applies to those who could be in a different location other than where the research is being conducted and they will also get the same consideration, where if the finding is used in the future it will still hold some reliability. There is an inherent threat with external validity that will make the final conclusion wrong because of the three components involved namely people, place, and time.   Because the validity of the finding could always be argued for as simple a reason as not choosing the right kind of people or the right kind of place, or time.   It is possible to point out a bias after the conclusion is final, which means although generalizing is possible, still the degree of the acceptance could come down on the scale. However, it is possible to minimize the mistake by being extra careful when taking the sample and by doing it randomly.  Ã‚   Another way of defending a validity of a finding is by working on the proximal similarity, by simply covering the extra mile in taking the samples from various groups and various locations.   It is also possible to use different times so that the findings will not be influenced by a given incident or event. Another important aspect of sampling is, knowing exactly who the target is or to whom the finding will be important.   Because there are situations where a certain finding could have a universal acceptance, for example.   If we are talking about people, it should be applicable to all humans.   Or if we are talking about a group living in a given area then the scope will be narrower, but in most cases what is applicable in a finding for one location should be applicable somewhere else with a degree of bias we can live with.   Still, no matter how careful we are, there will always be those who are not accessible from the group for various reasons and will force the finding to lean on the theoretical aspect of the finding.   In practice the â€Å"sampling frame† from where the sampling is derived from will not be complete in most cases, because of inaccessible population, yet all effort should be exerted to minimize the theorizing aspect of the finding. Yet even if thin gs go right for the most part, it might not possible to completely eliminate the bias simply because something could go wrong. Another interesting aspect of sampling is it is possible to take different but similar samples from the same population, which means, why take only one sample when it is possible to take more samples. The advantage is it would be possible to look at different outcomes and according to many findings, chances are the final outcome will be similar.   What this means is if we draw a graph all the graphs will have a bell shape although some extreme outcome cannot be ruled out, but it is rare.   The idea is the more sample we are able to take, our chance of arriving at what is known as a the parameter† will be high. The parameter is what will normally be arrived at if the whole group or population had been surveyed, which means as the number of the sample increases, the possibility of comparing and arriving at a better result is there.   Eventually the statistical finding will be more than generalizing, but the problem is if that was always possible, there is no need to be both ered with statistics.   The other advantage of taking a bigger number of samples is to bring down the â€Å"standard deviation†, which by itself would lead to a lower â€Å"standard error†.   The reason for that is even if it is avoided because of impracticality, the ideal approach would have been to go for the parameter, but it would be very expensive and time consuming, hence the main reason why taking sample is involved.   [3] In the world of sampling there is a â€Å"probability sampling† and it uses a random selection method.   There has to be some kind of a mechanism in order to carry out a random selection from a given group and the mechanism used will have to ascertain that the various components or participants will have equal probability of being chosen.   A â€Å"simple random sampling† has a few methods for it and what the aim is to choose a certain number of samples from a given group. The latest and the fastest way of doing that is using the various computer programs, which include EXCEL spreadsheet and using the RAND () function will do it automatically.   However, in spite of the fact that simple random may seem to be fair and correct for the most part, the possibility that not a good representative of the subjects might not be chosen is there affecting its efficiency and reliability. The other sampling method that acknowledged to be more accurate is â€Å"stratified random sampling†.   How it works is by dividing the subjects into visible subgroups and then it is possible to perform random sampling on each subgroup.   The advantage, of course, is there will not be a subgroup under representation since covering every possibility will be possible. In addition, the statistical precision is much higher and it gets better if the subjects are homogeneous. There is also â€Å"systematic random sampling†, which comes more handier and for it to work there will have to be a given number such as 1 – N, then deciding on the size of its components is required. There also has to be an interval and to make it work if the interval starts at k=N/n= the outcome will be the interval size.   Once randomly selected an integer between 1 k the number to take will the kth unit.   In order to accomplish this keeping the subjects random is required and its advantage is it is easy to work on, where all that is required is picking a random number.   Furthermore, it is always precise and when things get a bit complicated, it might be the only way out. The useful random sampling is â€Å"cluster random sampling† and it is mostly handy when a vast geographical area is involved, where a lot of distance-covering geographically will be involved.   Therefore, it is easy to come up with a clustering system where dividing the involved groups is possible using a geographic boundary, for example, and taking random sampling on each cluster and compare the outcome of the total cluster to arrive at a conclusion is possible.   When the need comes to combine the above mentioned cluster random sampling the process involved is â€Å"multi-stage-sampling†.   Sometimes after introducing cluster sampling there might be a need to apply stratified sampling in order to do an effective job and such mixing of the sampling is what is called multi-stage- sampling, because first comes the cluster sampling and in order to complete that effectively stratified sampling might be applied. The other sampling method that is believed to be more accurate is â€Å"stratified random sampling† and how it works is the subject or the population will be divided into visible subgroups and then it is possible to perform random sampling on each subgroup.   The advantage, of course, is there will not be a subgroup misrepresentation because it is possible to cover every possibility.   In addition, the statistical precision is much higher and it gets better if the subjects are homogeneous. The sampling that does not involve random sampling is known as â€Å"non-probability sampling† and it tends to be less reliable because of the lack of applying the â€Å"probability theory† and the end result could be, it could go either ways, to the point where it could be difficult to tell if it might have been possible to do a good representation or not. Even if that is the case for the most part researchers prefer to rely on probabilistic sampling, but there could be cases where applying it might be unavoidable. Non-probability sampling has two main types, â€Å"accidental† and â€Å"purposive†.   The accidental or haphazard samplings are incidents where the news media, for example, would go out on the street and approach anyone to get an opinion on a certain matter and it is not possible to say that individual is a fair representative of the population at large.   Or in some cases researchers could prefer high school or college students to make researches on certain subjects simply because there is a concentration of individuals that could be well informed on certain matter that might pertain to them, but in no way they can represent the population at large.   In clinical research it had been customary to use clients that are available and but might not be represent the of the overall population or at times volunteers could be involved where in some circumstances payment could be awarded.   Even if it is possible to get an opinion, it still might fall short of represen ting the overall population. On the other hand â€Å"purposive sampling† like its name states is done by having a given purpose in mind and it could be quick.   A good example is if a big company wants to know what its customers are thinking about the goods and services it offers, it could hire interviewers who will approach the customers while they enter the store or when they leave and will ask them certain questions.   Here it is possible to make mistakes as those who are visiting that store might be a representative of a particular subgroup that just happened to be there because of the location or because of the other businesses that are located around the particular business. Alternatively, if it is a regular day the visitors could be of a certain subgroup, and the same is applicable if it is a weekend.   The point made here is the subjects might not be the proper targets and the outcome might not be as reliable as a method that uses a proper random sampling method. Purposive sampling has different catagories and one is for example â€Å"Modal Instance Sampling† where the target is the most frequent case or the typical case.   While interviewing individuals there could be certain aspects that will influence them to give certain answers such as age, education, and income level.  Ã‚   Without knowing those aspects it will be difficult to rely on the typical or modal findings to be representative of the public at large. Religion and ethnicity also can play roles when individuals are giving quick answers and the interviewer has so much leeway to ask those questions without stepping over with what is normally unacceptable subject matter such as marital status, the size of the family, occupation could also make such a difference.   Therefore, any finding made through modal instance sampling could end up being an informal finding. There is â€Å"expert sampling† that fall in the same category and it involves bringing together experts in a form of a panel to ask about a modal survey that was made so that when the result is released the findings will have the backing of the experts.   That gives a boost to the reliability of the findings and the only time there will be a problem is if the experts themselves are wrong, which is a rarity, and it means if a modal instant sampling had been conducted, to be in the safe side it will be advisable to back it up with expert sampling, because nothing goes wrong most of the time. Another part of â€Å"purposive sampling† is â€Å"Quota Sampling† where a predetermined number of subjects will have to be approached and for no reason, that quota will be changed.   If the idea is to approach 50 female students and 50 male students in a college setup even if there is a shortage from one group and it is possible to make up from the other, it will not be allowed.   If there is a shortcoming on this sampling it is that in advance the characteristic has to be determined and if there is no success or if there is a shortage, adjustment could be made by lowering the number and the reliability of the data might suffer.  Ã‚   This in fact is proportional quota sampling.   The non-proportional quota sampling is not concerned about the exact number per se as long as there are enough of participants and collecting the data could go on and could be inferred to arrive at the desired result.   This method gets the credited for making sure even small groups will have a part to play and is similar to stratified sampling. Another part of purpose sampling is â€Å"heterogeneity† sampling where the drive here is to come up with certain working or popular ideas and what is involved in most instances is brainstorming of a group of people to see if they come up with the desired new ideas.   Therefore, there is concern about average instances and the number of people does not matter as long as it is possible to have enough number to participate.   Because of that the participants should be as heterogeneous as possible in spite of their number. One other sampling method that fall in the same category is â€Å"Snowball Sampling† where the participants will have to meet certain circumstances and once they qualify they will be asked to recommend others, which would work most of the time.   This method could be good to get access into some groups that have accessibility problem.   [4] The conclusion is it is difficult to say one method is the best and meets all the requirements, which means each method has its own advantage that has to be evaluated by the researchers on their drive to arrive at a conclusion that is very much closer to the reality.   However, in the field of taking surveys in a form of opinions, what is accepted is generalizing so that those who are using the information will know what the commonly held outlook about a certain matter is, hence they could form their own opinion based on that.   There is no scientific guarantee that states the findings are this much precise and close to the truth.   Such information, however, is much more important to those who will make important decisions based on it, because the finding might be the only available tool on their hand to help them make important decisions and they would have no choice other than taking a chance. It is proven that survey makes a lot of difference in business decision making because businesses are heavily dependant on feedback and that is why they spend a lot of money on surveys.   Other entities like governments can use surveys too since it is the only means that will give them a good glimpse into what kind belief, opinion, or stand the public has when they try to implement certain strategies.   Hence, sampling is one of the tools statistics rely upon to gather information about certain matters and the reason why a representative sample is used is, it is cost effective.

Practice Creative Writing With These Prompts

Practice Creative Writing With These Prompts You need to write a story for your creative writing class? Would you like it to be a horror story, a suspense, a romance or a sci-fi one? Whatever genre you choose, here are some creative writing prompts for you: Your Biggest Fan This one is straight out of the book Misery by Stephen King where a deranged fan kidnaps and tortures her favorite writer. How can you put a twist on a creepy, invasive fan that will make peoples skin crawl? The Reader Takes Part in the Action Why not write a book where the narrator slowly falls in love with the reader? How would you describe that? Haunted House Is there a creepy old house in your neighborhood that nobody wants to walk past? Are there steep stairs leading up to it like in Psycho? Maybe its a mystery who lives there as nobody is ever seen going in or out, yet theres always a candle in the window at night? What finally brings you to an encounter with the house? A dare from your friends? Did your cat escape and run into the scary house and you have to find it? What do you see when you enter? Vampires, Monsters and Zombies Then there are the traditional monster and zombie stories where bloodthirsty supernatural beings invade a town and start a killing spree. Where are you when this happens? How do you escape? What scenes of horror do you witness as you run for your life? Alternative Dreams The kids usually dream of becoming ninjas, astronauts, cowboys. Instead, they grow up to become bankers, accountants. Imagine the alternative reality, where a little boy wanted to be a lawyer whereas had to become an FBI agent. How would the story evolve? Ghosts These can be some of the scariest stories. Someone has died, but their spirit wont leave. How do you come into contact with this ghost? How do things develop? In the beginning, you merely sense something strange, but as time goes on, the ghost becomes more and more invasive in your life until you find yourself possessed by it! How do you fight the ghost? With a priest? Why is it tormenting you? How can you put it to rest? What is its story? Another Kind of Death In this universe, the dead dont just become limp corpses. They function just like regular bodies, just without a soul. How do they interact with those alive? Why not break the clichà © and make zombies good this time? The Forgotten You awake and start getting ready for work, you go downstairs and no one in your house knows who you are and your pictures have vanished. What do you do first? How do you make your loved ones remember you? Buried Alive As in The Raven where Poes fiancà ©e is buried alive slowly, how could you write this theme to evoke the terror of feeling the earth cover you while youre still alive? Does your victim escape? How do they do it? Who put them there in the first place and why? Accident Sometimes there doesnt have to be a villain for the story to be terrifying. What if you were in an accident, a car crash, or are hanging from a cliff? How do you overcome the situation and make it out alive? Bring on Some Sci-Fi You have invented an A.I system that integrates with a human body to automatically provide adjustments that will allow you to evolve and better your life. You are the first person to test new technology out. What adjustments do you think will be made? A great idea is always vital for a successful story. Pick one of the above or think of one yourself and go ahead, start creating! Got some incredible prompts youd like to share with others? Write them in the comments!

The Excellent Consuting Group Coursework Example | Topics and Well Written Essays - 1000 words

The Excellent Consuting Group - Coursework Example The revenue of product X5 was fairly stable but low, while that of X7 was extremely low but exceptionally stable for the year 2011 and would be low up to 2015. Profit Like the revenue performance, X5 and X6 products meet the profit threshold while X7 continue to make losses. It is below bar to a tune of -$31million dollars. Total Income The breakeven point for the three products is determined by the fixed costs, selling price and the number of units sold. The total sales in 2015 reduced compared to sales realized in 2015. Similarly, the total revenue reduced. Since the fixed and R&D costs remained constant, the average profitability reduced from 10% to 4%. X5 income The sales and revenue reduced in 2015 as compared to 2014 showing a great reduction from 3% to 1% profitability. The fixed and R&D costs remained high. X6 income The revenue and sales reduced by almost half in 2015 as compared to 2014. The profits also reduced from 16% to 10%. R&D costs were higher compared to the other p roducts. X7 income This product realized increased revenues since sales went up. In contrast to the other products, variable costs increased while the total profits went up. The product was making losses but well performing when compared to Product X5 and X6. Market Information Sales The sales for product X6 was exceptionally on the rise from the year 2011 and 2013 but gradually reduced from the 2013 to 2015. ... Product Performance X6 is highly performing in the market when compared to X5and X7. However, X5 is reducing in performance while X7 has stable performance. Market Report 2011 X5 Market Report The installed customer base of product X5 shows an increase from 2014 to 2015. The number of remaining customers has reduced while market saturation increased from 37% to 41%. First time customers reduced while repeat sales increased. X6 Market Report The installed customer base of product X6 shows an increase from 2014 to 2015. The number of remaining customers was exhausted while market saturation increased from 90% to 100%. First time customers reduced to zero while repeat sales increased. X7 Market Report The installed customer base of product X7 shows an increase from 2014 to 2015. The number of remaining customers has reduced while market saturation remained at 3%. First time customers and repeat sales increased. Proposed Alternative Strategy Suppose the prices of X5, X6 and X7 products a re set at price $400, $360 and $200 respectively. Also by apportioning the research and development (R&D) allocations as follows; X5(25%), X6(40%), and X7(30%). The cumulative profits for 2012 will be 192,479,522. The X5 is less expensive than other similar products in the market. X6 sales are in the growth phase of the product lifecycle. The majority of X6 customers have not yet purchased the product. The X5 compares more favorably with other tablets in the category. The cumulative profits for 2013 are 463,673, 489. The decisions for 2014 will be effective if X7 handheld is priced higher than competing products and is in the growth phase. There are many X7 customers remaining in the market. Most of the customers for the X7

The brand perception impact of advertising for Starbucks Company Essay - 2

The brand perception impact of advertising for Starbucks Company - Essay Example Management judgment has also become an important factor as it determines the location scheme based on the information gathered from the consumer. According to Davies (2003), the information is mainly comprised of expectations for the products and what it could offer, putting an emphasis on its difference from competitors. These dynamic approaches have produced models that have been used for historical sales and marketing data, while Mathieson (2005) cited that the models shaped by the advertising media were also seen as effective maneuver for improving brand performance. According to (Wesly & Manatt 2008), in order to effectively position one brand in the market, a marketing executive needs to consider four fundamental changes that have serve as driving forces of brand positioning in the market. According to Wesly & Manatt (2008), these are: 1. The explosion of internet and other technology driven channels that resulted into numerous methods of improving one brand presence. One significant characteristic is that this change has increased the targeted audience, making the brand more known to a large number of people in a span of minutes or seconds. 2. Technology has also resulted into the increase of word of mouth. Technology presented a much efficient and faster way of sharing brand information such as the internet, wherein customers could shop online while talking to one of their friends via chat room. According to Bazerghi, Tarrant, Munro & Levine (n.d.), this method has significantly improved how brand presence is shaped as most people use the internet nowadays, and that there is about 40 percent of total market consumers that are into online shopping. Word of mouth specifically helps in the positioning of a brand in the market, as it directly helps in the pinpointing who are the customers that avail the product most of the time. 3. Business partnerships have opened new paths to increasing brand presence and