Level 5 Leadership

Jim Collins creates a sort of guideline for companies that are mediocre or have had mediocre performances who want to make the leap to becoming a great company. The way Collins came up with these guidelines is by studying 11 great companies that were selected from a list of Forbes 500 companies and deemed great companies using a criteria created by Collins' research team. These 11 companies were than each compared to a company in the same industry with similar resources but who did not perform as well as the â€Å"great† companies in the 15 year time span in which the companies were studied.Collins was able to create the flywheel concept out of his studies which is broken down into 6 parts. The one that is the focus of this paper is the level 5 leadership. Through the study of the â€Å"great† companies and through comparison with other companies, one of the major factors of the success of those companies was the type of leadership in place in the company. It takes a le ader with two characteristics to lead a truly great company to that success and those are: personal humility and professional will.The way a company can truly be great is by utilizing a level 5 leader who exemplifies the qualities that Jim Collins describes in his book, Good to Great. A leader is at his or her best when they are able to challenge the workers in the company and to inspire them by the way they lead. What is different about the level 5 leader that Collins describes is in the paradox of it all. A leader is quiet, laid back, almost to the point of being considered shy yet at the same time there is this incredible drive to be the best not for the sake of oneself but because that is what is best for the company.The leader is put in that position of the company to shake things up and change the company culture but the leader does not have to be some hot shot from a different company here to save the day. No, this leader is from within the company, he knows everything there is to know about the company and he improves it everyday. No matter what the company always comes first before oneself and long after the leader is gone the company will continue to be great, in fact, a level 5 leader would consider themselves a failure if their successor and the company is not more successful than before.Along with that the leader creates a culture of accountability while at the same time forming a mirror window effect; when things are going great the leader looks out the window to give credit but when things are going bad the same leader looks in the mirror to give himself blame. in essence he is taking the fear away from his employees in order to make them more invested in the company, by doing these simple steps the employee moral is kept high both during the good times and more importantly during the bad times. This quiet yet extremely driven individual is what makes a good company into a great company.This idea that a leader has to be quiet and driven in order to be a part of a great company cannot be true. As a prime example there was Steve Jobs, he was a co founder of Apple, then left and co founded Pixar, all before returning back to Apple to make it one of best companies in the world today. He was charismatic, he was egotistical, he was given credit for the success of Apple and he graciously took it, he was a celebrity. When people think of Apple they think of Steve Jobs, he created Apple and brought it to its greatness. He was not a level 5 leader. He was extremely driven but he was not the quiet type.He would not be the type of leader to just blend in with the crowd, instead hundreds of thousands would watch him during a new product release and hang on his every word. The fact that he was successful as the CEO of multiple big name companies while taking a large amount of the credit, that was well deserved, is one of the best counterexample to Collins level 5 leader. Steve Jobs was extremely devoted to the companies he worked for an d he worked tirelessly to make sure they were the best that he could make them but he did all of this by going with his own style that contradicted the teachings of Collins.There is no clear choice between a leader like Steve Jobs and the one that Jim Collins describes, a level 5 leader. There are too many factors in the business world and there are too many different industries to try to create description of the perfect leader. What Collins managed to do was to select 11 companies that he deemed great and he found similarities between the companies, one of those similarities being with the type of leaders those companies had in charge.For those companies and the practices the companies had in place, that type of leader with personal humility and professional will was what was necessary. For Apple and Pixar it was a different type of leader that thrived, and in other companies it will be that same Steve Jobs type of leader that will lead them to greatness. It is not possible to cre ate a prototype leader and companies should not try to do so they should put their efforts on finding the leader that fits their need the best whether that leader comes from within the company or from the outside.

Impact of the Internet

The Internet has dramatically altered our lives over the past few decades. Although some of these changes have been negative, the overall effect of this technology has been positive. What are your opinions on this? The Internet is one of the most wonderful inventions of human beings. Through periods of ten years, every people on the Earth have been being influenced by the global network. In my view, I strongly believe that the main impact of this technology is very good although it still has some bad sides. It is apparent that the Internet makes our lives better in some different ways.Firstly, this technology helps us to keep in touch with friends, colleagues, and relatives from anywhere. People around the world can speak face-to-face by just one click with almost free cost. Nowadays, we can follow every activity of others through some social networks, such as Facebook, Google Plus, and so on. Secondly, this is a marvelous tool for education. The Internet is a huge resource of knowle dge of human beings from ancient to the modern time. With a computer connected to this network, we can learn everything which we want to know.For instance, my brother-in-law attended an economic analyzing course held by Harvard University from Vietnam through the Internet. Finally, it supports every work which we have to do. We can do our business conveniently if we use this technology. For example, a manager can manage his project from another place. With the supporting of the Internet, we can easily book a ticket for airplane, pay for electric bills, and even shopping from our home. However, everything has two sides, and the Internet is not an exception. The first significant drawback of this change is that it makes people lazier.As the Internet is very attractive with many exciting things, people do not have time for physical activities. Therefore, almost all office staffs have problems with their eyes and bodies. In addition, it not only has a lot of good things, but it also has a great deal of bad ones, such as violent games and sexual videos. These things will cause some nasty problems for young people who cannot protect themselves. In conclusion, since some bad effects of the Internet are easily recognized and avoided, we can control them and enjoy its wonderful benefits. I am sure that many people cannot live without the Internet.

Hermeneutics Paper Essay Example | Topics and Well Written Essays - 1750 words

Hermeneutics Paper - Essay Example When Jesus introduces the New Covenant in the New Testament teachings, some aspects of the Torah as modified with so that grace and mercy are introduced as additional pillars to the law. Justification by law is transformed to justification by faith. The author of the Torah, of which Deuteronomy 6: 1-9 is a part, is usually taken to be Moses. Moses was the prophet that led God’s people, Israel, out of bondage in Egypt. Moses was born at a time when a decree had been issued by Pharaoh of Egypt that all males children born of Israelites to be killed. For this reason, he was hidden in a basket and left afloat on River Nile. The Kings daughter found him and adopted him as her son. However, when he grew up and he realized that he was a Hebrew, he got concerned with the oppression of the Israelites in Egypt. One day he killed an Egyptian and fled to Median when it became apparent. While tending to Jethro’s sheep, God appeared to him and sent him to liberate His people from Egypt. That marked his journey as the Lord’s servant. The author wrote this text (Deuteronomy 6: 1-9) as part of the decrees the Lord wanted His chosen people to follow. He wrote this text because he was instructed to do so by the Lord God Almighty. The themes of the book include, obedience, true worship, trust in the Lord, keeping oaths, consecration and blessings. The book is believed to have been written around 1406 BC. During this time, the Israelites were preparing to enter the promised land. The passage (Deuteronomy 6: 1-9) fits into the overall purpose of the author which was to guide the people of Israel on how to live in a Godly way, as it gives guidelines on how to serve the Lord God. It outlines in details how the Israelites were to show that they respected and loved their one and only God, Yahweh. The immediate context was the issuing of the Ten Commandments. Therefore, this passage fits into the immediate context by amplifying

B4 Essay Example | Topics and Well Written Essays - 1000 words

B4 - Essay Example Ordinal and interval variables collect measurements. Interval data is actually measured on a continuous scale (actual quantities of some quality like height or age) while ordinal data is numerical form of classification, where whole numbers are used to denote order but the numbers themselves are not measures but a form of classification (GraphPad.com). Table 1: Variables Measured in the Survey Interval variables Ordinal variables Categorical variables Age Age category Gender Distance travelled Distance category Reason 1 Regularity of visits Reason 2 Satisfaction with: price Department Number of items Purchase Service Payment Quality Follow up Overall Store Contact The variables in the top row are italicized to indicate that they are independent variables. In this survey, it was hypothesised that demographic factors such as age and gender (pre-existing qualities or ‘independent variables) might influence opinions and behaviour of respondents (dependent variables). For men and wo men might differ in the distance they are prepared to travel to a store. Description of the Data Table 2 shows the number of women and men in the sample and various measures of their age profile. Table 2: Demographics of the Sample Gender All Women Men Number of people 582 373 (64%) 209 (26%) Mean age 42.6 42.8 42.3 Minimum age 17 17 17 Median age 42 42 42 Maximum age 75 75 74 The sample comprises 582 shoppers between the ages of 17 and 75, nearly two-thirds of who are women and just over third men. The age profiles of the men and women are very similar. Analysis of the distance travelled by respondents to the store where they were interviewed revealed a wide disparity. The modal distance (the most common length or trip) was less than a mile, but many had travelled much further, up to 53 miles. The median distance travelled was 5 miles and the mean just under 10. This indicates a positively skewed distribution where it is difficult to say what is the ‘typical’ distance travelled to the company’s stores. Inferential Statistics Table 3 shows the results for all shoppers, with men and women grouped separately. Separating women’s and men’s responses in this way allows a preliminary assessment of whether the independent variable (in this case gender) is influencing the dependent variable (distance travelled to the store). Table 3: Distance Travelled to the Store where Interviewed Distance travelled Less than 1 mile 1-5 miles 5-10 miles 10-30 miles Over 30 miles Total Women 49 (13%) 149 (40%) 83(22%) 69 (19%) 23 (6%) 373 Men 23(11%) 74 (35%) 51 (24%) 52 (25%) 9 (4%) 209 Total 72 223 134 121 32 582 The message is mixed: a higher proportion of the women than of the men travelled the shortest distances, but at the other end of the scale women were also more likely than men to have travelled the longest distances. A possible means of determining whether there is a difference between the distances men and women are prepared to travel to the company’s shops is to compare the mean raw distance (using the actual mileages rather than the categories) travelled by respondents of each gender. The mean distance travelled by the female respondents was 9.54 miles compared with 10.26 miles by the men. The standard deviations of the two samples are similar (11.1 and 10.6), so it is appropriate to conduct a ‘type 2’ test, but since the samples are independent and of different sizes we use an independent t-test

The Civil Rights Movement Annotated Bibliography

The Civil Rights Movement - Annotated Bibliography Example Abstract: This book, edited by Jack Davis contains twelve essays that tackle the development of the civil right s movement that is supported by primary documents. With the emphasis on the chronology of events through a detailed timeline and the geographic scope of the movement, the book introduces the foundations of the movement, followed by the fight for labor and civil rights. It then discusses the white resistance and anticommunism, anti civil rights and why they oppose the movement. It is then followed by a discussion on the participants-liberals and moderates and the role of women. The discussion continues to the local-national relationships and grassroots level. Lastly, the book concludes its discussion on the attainment of black power and culture and political power.Dierenfield, Bruce J. The Civil Rights Movement. New York: Pearson Longman, 2008.Abstract: The book tells in vivid detail the extraordinary measures of ordinary African Americans to reclaim their rights. It argues that the movement has been one of the most important, or rather, the most important transformations of the United States as a country, a process that has brought so much turmoil, civil unrest, and violence. The brutality, hostility, and aggression towards the proponents of the civil rights movement caused these people to lose their jobs, homes, and even lives. It also highlights how racism brought about by slavery has impacted the mentality of the American people that put the black community at an inferior position.

Personal Leadership Development Plan Essay Example | Topics and Well Written Essays - 1250 words - 3

Personal Leadership Development Plan - Essay Example As is basic for these groups, I might be working in moderately little, cross-utilitarian assemblies with others, on the whole working a little set of records. Inside that group, my particular obligations could extend from City Manager, City Planner, Government Manager, Non-Profit Manager, Executive Assistant, or Chief of Administration, all of which I have experience finishing now through my different employments, volunteers, internships, and grounds associations. Imperative authority aptitudes in aggregations of the sort incorporate high assignment introduction, capacity to oblige and team up both remotely with the customers and inside the group, and the ability to boost bunch effectiveness through fitting undertaking division. While the examination of my outcomes from the collection of overviews and evaluations will offer a more definite dissection of how my current qualities play into or challenge those obligations, I feel that I to a great extent have a solid premise in those mea surements with evident room to develop and enhance later on. In general, I observe that I am a legit and minding diligent employee who values productivity and close flawlessness. Not just do I accept that these are critical models throughout my life, I observe that I proclaim these characteristics to others, on occasion setting a bar excessively high for any other person to arrive at. While I value the general capacity to be both strongly meticulous and for the most part minded, I do periodically become involved with the particulars of an assignment, staggering to demand that everything is executed simply right. Humorous in view of the extent to which I get a kick out of the chance to arrange things, I get amazing delight and fervor from spontaneity, maybe due to its irregularity. All the more formally, I have wide arriving at abilities, running from different sorts of managerial

Marketing management and strategy - The UK music industry Essay

Marketing management and strategy - The UK music industry - Essay Example The UK music industry is facing dramatic changes caused by shifts in the patterns people buy music tracks and albums. Online music distribution is changing the rules of the market introducing both major threats and growth opportunities for music labels and distributors. Whereas increased download opportunities and digital format preferences are threatening traditional music specialty stores, legal music websites and music producers have to find creative ways to fight back internet piracy to achieve targeted rates of returns. Online market demand is dominated by teenagers who have shifted their purchases from singles CDs to mostly illegal downloads of singles tracks, stimulated by continually evolving software and P2P networks. In order to survive, market players have to reconsider their strategies and value propositions – by mergers of music labels; flexible pricing and value-added offers by online distributors and active ethical campaigns, the challenge before these companies is to convert the internet medium from a threat to copyrighted material into an effective distribution channel. b. Analysing the competitive impairment using Porter's five forces Rivalry among competing sellers in the industry - rivalry among legal internet music sites is not too intensive, because the legal online download industry is underdeveloped and growing at a very high speed, which means that companies gain market share from a rising number of new customers, converting their downloads from illegal to legal. Apple iTunes has over 70% of the market, which places it into an almost monopolistic position as a market leader. Still, rivalry is expected to increase, as the number of competitors increases, and as customers can easily switch from 1 site to the other (except for Apple and Sony that sell music in formats compatible for their own products). Competitive pressure from substitute products - substitute "products" for online distributors can be considered to be rival traditional distributors for example. The power of substitute distributors is low, because the internet medium provides lower costs, greater flexibility, speed and value propositions as compared to traditional music retailers. Potential entry of new competitors - relatively low costs for set-up and management of web-sites for download mean low entry barriers. Entry of new competitors is likely to be attracted by the growing number of legal sales (from 100,000 to 500,000 by August 2004). The bargaining power of suppliers - suppliers for online music distributors are music producers. Provided there are only 5 major music producers that hold the exclusive rights for famous artistes and musicians, the bargaining power of suppliers is big in terms of price settings - e.g. the music label get 65p of a typical 99 p download. Suppliers include the 5 major labels and smaller independent music labels. Consolidation among big labels (Sony and BMG) is likely to increase bargaining power of suppliers. The bargaining power of buyers of the product - the power of buyers is big in terms that surfers, using new software and P2P networks are shaping the face of the industry. Online distributors have to find ways to attract and retain customers by stimulating them to actually make purchases and switch to legal downloads. c. The impact of the Internet on the competitive environment Internet is the trigger of the digital music revolution. It has changed the whole music industry thus forcing music companies and artistes to reconsider the way music is being sold and distributed. Internet has a number of positive influences on music companies. Through this popular and easily accessible medium artistes and companies have access to a wider global audience and have opened up new revenue streams. Internet has also diminished the bargaining po

Working capital Essay Example | Topics and Well Written Essays - 3250 words

Working capital - Essay Example Accounts receivable analysis is very important for cash is the lifeblood of the company. Accounts receivable must be converted to cash as soon as possible. This is where the AVERAGE COLLECTION PERIOD financial management tool is used regularly. The longer the average collection period, the lesser the liquidity ratio will be. The average collection period is dependent on the accounts receivable customers' ability to pay. To go deeper into the analysis, Ability to pay is dependent on the accounts receivable clients' liquidity. A client that has just lost his or her job will have difficulty to pay your accounts receivable. A customer that has just run away because such customer has not intention of paying you when you will both meet will also affect the average collection period. When the average collection period is decreased, then the availability of the cash will increase liquidity. The increase in liquidity will result to a better financial statement. A better financial statement picture will increase the company's probability for the bank's approval of its long-term loan. It also follows that sales are generated through the use of two methods. Cash sales are the first method of sales generation. Cash is received in exchange for goods that are sold to the company's customers.The second method (credit or account sales) will generate twice or even thrice the total amount of cash sales that the business produces. Are the sales on account Customers are allowed to take home the products they want to buy and the cash payment will be received either a few days or a few months or even a year or more from the customers' actual taking possession of the products sold. It is also common knowledge, from personal experiences since our childhood transactions that not all things borrowed will be returned.Therefore, since some of the objects like books, pencils, bikes, or car, cash and others will be borrowed, we have accept the fact that there is a fine line between borrowers where companies are at risk of not being paid and the borrowers who are of good standing bec ause they pay their monthly dues on time. One of the criteria that the banks and other business institutions approve the sale to clients ON CREDIT is to determine, based on the CREDIT customers' work related data, that there is a probability that the customers will pay their dues on time.Allowance for Doubtful accounts is the accounting title for the estimated amount of accounts receivables from customers, subsidiary companies, branches and others that has a high probability of not being paid. The average collection period is the average length of time that the accounts receivables will not be paid by accounts receivable customers. It is simply the quotient when the total outstand accounts receivable is divided by the average daily sales. Another term for this is the collection ratio. The main headache of the finance director of Raphael limited is that the company had

The Reward strategy Essay Example | Topics and Well Written Essays - 1250 words

The Reward strategy - Essay Example The case study "The Reward strategy" discusses the development of a talented pool of personnel and the retention of those personnel is now becoming one of the primary focuses of the HR department in any sound business. Classic Travel need to put systems into place that attract, retain, and develop talent. The case study highlights that these systems also have the double-duty of keeping the job itself interesting and exciting for the staff. Programs such as those that rotate employees between different kinds of units within the organisation, that encourage directed learning as well as promoting interagency communication across the entire company are becoming an integral part to any business unit. Furthermore, the HR department must develop a system of recognition and reward for the staff in regards to their contributions to the agency. Furthermore, on a practical level Classic Travel, nor any company, can give out reward without some return on that investment. They would need to examine the overall cost of the reward system as compared to the overall benefits not only to the employee but to the company as well. Being a travel agency which provides exclusive city breaks and short holidays to all major European countries. The case study emphasizes that Classic Travel may be able to combine work and reward in one package. For instance a yearly training session could be held in Morocco, or some other vacation site where a three day training could also provide some much needed fun and even team building experiences. The company could pay travel training expenses and even base accommodations on a reward basis. Those staff with more customers or bigger increases in their overall business may get a private suite, and so on.

Compare and Contrast 1984-Brave New World Essay Example for Free

Compare and Contrast 1984-Brave New World Essay â€Å" Do you see, then, what kind of world we are creating? † (Orwell, 1950 p. 267)George Orwell, author of 1984 released in 1950, present the idea of a society that proves to be a dystopia as it is completely based on fear and rarely does one see happiness while in the other hand, Aldous Huxley’s Brave New World presents the idea of a functional utopia were feelings are destroyed and no one is unhappy because they don’t know happiness but all this could change by the hands of one outcast. These two societies ruled in different ways-one through fear and the other through psychological and physical manipulation- present successful ways to maintain order and power, although they differ greatly and outcasts have different aims and uses. In a society where fear is predominant, physical and mental capacities reach a stagnant state as the will to survive and loyalty become predominant. In a different society where men are created to the liking of their rulers and are controlled with drugs instead of fear, the meaning of a utopia can disappear but yet subjects will think everything is perfect. Finally a sense of false equality, manipulation, and fear allow total and utter control. In societies like the ones depicted in these two books, nothing is perfect and nothing is true. Members of these communities cannot know what is true because this will make them become dangerous to their leaders. The use of fear in 1984 and the idea of Big Brother facilite control as the idea of constant surveillance and Thought Police puts everything a member of this society does to the test and when they make a false move, they know they are done for. The scene where Winston talks about two plus two not being for or if Gravity is a force that works really depicts the kind of fear installed by the party. â€Å"The heresy of heresies was common sense. And what was terrifying was not only that they would kill you for thinking otherwise, but that they might be right. For, after all, how do we know that two and two make four? Or that the force of gravity works? † (Orwell, 1950 p. 80). As explained by the quote, doubting whatever the party said could end up in negative ramifications. It is incredible how people can adjust to these changes. Things that seem so simple be questioned and believed, which is even worse. The mutability of the party’s adherents is astonishing as they change whenever the part needs them to follow the most ridiculous ideas as if they were normal and all of this is achieved through fear. Winston also mentions the fact that your mind can fail you. â€Å"The most deadly danger of all was talking in your sleep. There was no way of guarding against that, so far as he could see. † (Orwell, 1950 p. 64). Even thinking erroneously about the parties flaws and going against their ideas can be lethal as sleep talking cannot be controlled and can always be heard. The third example of fear and its installment in Winston’s mind is when he receives the letter from Julia. â€Å"One, much the more likely, was that the girl was an agent of the Thought Police (†¦) the thing that was written on the paper might be a threat, a summon, an order to commit suicide, a trap of some description. (Orwell, 1950 p. 106). This displays how fear can make something normal seem completely hazardous and how reliance on others can be purged as you do not know what to expect from anyone. Even though people may be unhappy, this demonstrates to be successful as no one goes against the status quo. In contrast to 1984, Brave New World doesn’t need fear since if they want change, they create new beings to change or just bring out soma but still, control is maintained. Physical and psychological manipulation gives a sense of order even though it is non-existent, and drug use maintains a false control that seems alright to everyone inside that sphere however, when someone notices this false control, he will become a problem. In Huxley’s Brave New World, which is supposed to be a Utopia, equality is not present and this is what a utopia is supposed to be about. Within the social classes, the top ones still think of the lower ones as useless and basically inferior. Lenina demonstrates this through the following quote. â€Å"What a hideous colour khaki is,† remarked Lenina, voicing the hypnopaedic prejudices of her caste. † (Huxley, 1946, p. 42). This quote demonstrates that even messages coming from the government promote separatist ideas and at the same time they promote equality. Drug use and psychological manipulation allows this to maintain epsilons happy with how they are, also maintaining absolute control over society. Hypnopaedia as seen before, doesn’t always promote the values of a Utopia as it should. Another hypnopaedic message demonstrating this is â€Å"Every one works for everyone else. We can’t do without any one. Even Epsilons are useful. We couldn’t do without Epsilons. Every one works for everyone else. We can’t do without anyone. † (Huxley, 1946, p. 50). The use of Soma is a very important factor as it is a way of escaping the reality of a supposed utopia that in reality is everything but a utopia. â€Å"Why you don’t take soma when you have these dreadful ideas of yours. You’d forget all about them. And instead of feeling miserable, you’d be jolly. So jolly,† she repeated and smiled (†¦)† (Huxley, 1946, p. 62). It is very important to realize how this method of control still proves to be successful and allows organization for the government to preserve. Whether it’s installing fear, secret organizations, and complete surveillance or actually creating subjects, it is evident that both methods are thriving as they sustain order and undemanding management of society. Winston, who was the soul and heart of change in 1984 , ended up failing and the idea, person, or whatever Big Brother is, who he hated the most actually ended up taking over him and it is mentioned in the novel. He won the victory over himself. He loved Big Brother. † (Orwell, 1950 p. 268) The only man who was capable of causing change and denouncing the artificiality his government was based on. Fear has now proved to be a functioning method of control. In comparison to Brave New World, the outsider and only man capable of making others realize the lie they lived in ended up killing himself. â€Å"Slowly, very slowly, like two unhurried compass needles, the feet turned towards the right; north, north-east, east, south-east, south, south-south- west; then paused, and, after a few seconds, turned as unhurriedly back towards the left. South-south-west, south, south-east, east.. † (Huxley, 1946 p. 176) This also verifies the effectiveness of this method and according to this, both men failed to change the status quo. By the end of both novels, no change was made and both fear and manipulation proved to be effective ways of maintaining control. As the predominance of both fear and manipulation grow, methods of changing society and its governance method become scarce and even those who go to extremes find themselves with unfeasible situations where physical and mental capacity will be pushed to new limits but yet, not enough to revolutionize their societies. This is mainly due to most of those who have been subjected and accepted the reality in which they live in, which is what both Winston and John go through but their ways to accept it, were vastly different. Even though there are some with strong minds and others who have not been toyed with, it will never be enough to fight fear nor manipulation of the human being.

Advantages And Disadvantages Of Optical Fibers

Advantages And Disadvantages Of Optical Fibers A light travels in straight lines as we know it is highly impossible to make it follow a curved path to glimmer around corners. In 1970s there was a great improvement and faster growing in fibre optics communications. The main idea of light in communication system is evolved from simple signal fires and lamps. Claude chappe has a first modern attempt in optical telegraph built in the 1790s.The first problem was alleviated with the advent of semiconductor age, the semiconductor laser invented by Theodore maiman in 1962 LED(light emitted diode) is improved in optical fibre which solved the problem o0f passing light through air. The communications through optical fibre was proposed in 1966 by Charles Kao and Charles Hockham of the standard telecommunication laboratory in England. In the past few decades many technologies are introduced among them optical fibre communication is the best communication system. The main components of optical fibre are core, cladding and coating. The main duty of core is, it carries a light from transmitter to receiver. Core: It is a smallest part in optical fibre communication system. It is very delicate optical fibre cable Generally it is made up of plastic or glass. The core made up with glass is mixed with pure silicon dioxide other impurities like germanium or phosphorous. These impurities are added to improve the refractive index at certain conditions The range of glass core is from 3.7 µ to 200 µ. 1.48 is the refractive index of core The core made with plastic is larger than glass. Cladding: It is the protective and surrounded layer of core. It provides the low reflective index. In glass cladding the core and cladding is made with same material Different quantity of impurities is added to both core and cladding in order to make a difference in refractive index among them is about 1%. 1.46 is the refractive index of cladding 125 µ and 140 µ are the standard cladding diameters Coating: This is the main protective layer for the entire optical fibre. It protects the optical fibre from shocks and other external damages. Coating has an outside diameter of either 250 µ or 500 µ. Coating is colour less but to identify the coating in some applications it is coloured. 2) Advantages of Fiber optics: The band width of optical fibre is very high when compared with other communications. To increase band width in fibre optics is very easy. Data transmission is very fast in fibre optics. We can transmit data to longer distances without any noise. It is very difficult to tap the information because it is much secured. 3) Disadvantages of Fiber optics: Installation of fibre optics is very cost. When we face any problem with fibre optics we require special test equipment. Communication with fiber optic cable is more cost when compared with different broad band connection costs. In rural areas fiber optic communications are very less, in these days this is one of the main disadvantage of fiber optic. 4) Fibre Optic Losses: Due to bending and breaking of optical fibre cables losses are occurred in fibre optics. Mainly there are two types. Intrinsic losses. Extrinsic losses. 4.1) Intrinsic losses: A slight variation from one fibre to another fibre even manufactured with in specified tolerances. Losses are occurred by these variations. In Intrinsic losses there are four types of losses. They are NA (Numerical Aperture) mismatch losses. Core diameters mismatch losses. Concentric mismatch losses. Elliptical mismatch losses. Cladding diameter mismatch loss. 1) NA (Numerical Aperture) mismatches losses: If there are two optical fibres are repaired we are connecting them with splices during this connection mismatches are occurred because the cone of acceptance in the receiving fiber cannot gather the complete light emitted by the transmitting fiber. This means the light is not travelling completely. This mismatch loss is known as numerical aperture mismatch loss. 2) Core diameter mismatch losses: The difference between the core diameters is the reason of this loss. When the transmitting core greater than the receiving core or transmitting core is lesser than the receiving core light is not completely travelling. This type of mismatch is called as Core diameter mismatch losses. 3) Concentric mismatch losses: In ideal conditions the core the core and cladding are concentric, that means a single geometric centre is shared between them. The fibre core is likely to be offset by a slight amount from the cladding centre. In fiber cores when the transmitting and receiving are non concentric. They will not meet exactly and the light coming from the transmitting fiber is lost. 4) Elliptical mismatch losses: If the fiber cores not the perfectly circular and fiber cores and cladding are not perfectly concentric this types of losses are occurred. The transmitting optical fiber core is not match with receiver core. 5) Cladding diameter mismatch loss. If the diameter of the cladding are not same on the both fiber optics. This type of mismatch is occurred. This means the transmitter light is not completely sending to receiver core. 4.2) Extrinsic losses: Generally in an ideal optical fibre the cores are centred on each other they are placed at 90 degrees angle to their faces. The ends should be in firm contact. Any miss arrangement in these conditions can cause some loses in the signal. There are three types of extrinsic losses. Lateral displacement. End separation. Angular misalignment. 1) Lateral displacement: If the centres of core of two optical fibers are do not match this loss may occur. If the displacement increases less light from the transmitting fiber makes its way into the receiving fibre. A little amount of displacement is acceptable in larger fibers because the majority of the core s surface area is still in contact. In smaller fibers a slight offset can place the centre of the transmitting core entirely outside of the receiver core. 2) End Separation: The end separation loss is due to Fresnel reflection, it takes place when the light passes from fiber refractive index into the air and vice versa. In refractive index each and every change causes an amount of reflected light and therefore the loss is occurred. 3) Angular Misalignment: The optical signal will suffer from these losses when the fibers meet an angle. The solution for this loss is to arrange the fibre end properly that the both ends are in the same line during splicing. 4.3) Major causes of losses: Absorption loss. Scattering loss. Linear scattering losses. Non Linear scattering losses. Coupler losses. Insertion losses. Reflection losses. Impurity losses. Macro bending and micro bending losses. Packing fraction loss. Absorption loss : Absorption loss is occurred by the impurities in the fiber it self such as water and metals. Material absorption losses: Material absorption losses are occurred by absorption of photons within the fiber these losses represent a fundamental minimum to the attainable loss. Intrinsic absorption losses: Interaction with more than one component with glass leads to the intrinsic absorption loss. Scattering loss: I couples energy guided to radiation modes which causes the energy losses from the fiber. If there is a core diameter irregularity in fiber access direction also a reason of scattering losses. Linear Scattering loss: The quantity of light power is transferred from wave is directly proportional to the power in the wave it also causes by inhomogeneties in the glass when the size of it smaller than wave length. Non linear scattering loss: If the electric field with in the fiber has high values then it leads to the presence of non linear scattering ,it also causes when significant power is scattered in all the directions. Coupler loss: The fiber optics coupler are active or passive devices the coupling loss in optical fiber is defined as, = output power =inputpower Connection losses increased by fiber to fiber connection due to the following sources of intrinsic and extrinsic. Mainly we have four types coupling losses 1.Reflectionlosses. 2.Fiber separation. 3.Fiber misalignment. 4.Fiber mismatch Insertion losses: Insertion losses are combination of coupling loss and additional fibre losses. If joints of fiber can increased the attenuation of fibre this is done in multimode operation. Fiber joints can leads to the second order mode in single mode fiber. Reflection losses: Light waves of reflection and transmission occur because frequency do not match the natural resonant frequencies of vibration of object. Impurity losses: The first source of impurities material in glass fibre is metallic ions, the loss due to this reduces the contribution below 1DB/KM. Macro and microbending losses: These loss may occur due to sharp bend in fibre, to produce high losses a short length of optical fibre is to be bend, as tight as the fibre optic the losses are worst. The major problem in macro losses is in the hands of the installer.The losses in micro bends is same as the macro bands but it just differs in the size and cause. The radius is equal or less then the diameter the outer layer will shrink and get shorter when the fibre is too cold, fibre optic cables are available with a range of temperatures from C to C. Macrobend Microbend Packing fractin losses: Single emitter sometimes uses a bundle of fibres, if claddings are in contacts many fibres are packed together. Large area source can match a large bundle in order to eliminate area mismatch loss. Small sources can emit less like than the larger once , in single fibre larger one has more power to couple into a bundle than into a single fibre. Fibre optic as a sensor: Sensor provide link to interface between the electronic units and physical world the sensor can detect physical and chemical qualities such as temperature, pressure, vibration, flow , acceleration, proximity,and chemical concentrations. A basic sensor is made upof a light source(laser or led), a length of fibre and optical detector. Fibre optic itself acts as a sensor by varying he intensity of light these measurements are done. Only the source and the detector is required in the sensors hence it is very simpler. Based on the performance characteristics there are four different types of sensors they are 1. Extrinsic sensors. 2. Intrinsic sensors. 3. Fibre bragg grating (FBG sensors). 4. Long period grating sensor. Extrinsic sensor: In extrinsic sensors the outside part of the fibre undergoes to the sensing effect. The fibre acts as a collection system in light delivery. For example a chemical sensor utilizes a sensitive material on the tip, light is passà © through the fibre and reflected back. In the chemical solution as the concentration changes the tip properties may change and the reflection of the light also changes which gives the measure of chemical concentration. Intrinsic sensor: In intrinsic sensor the changes takes place within the fibre. The change is outside the fibre and the fibre remains unchanged when the intrinsic sensor is in contract to extrinsic sensors. For example when a fibre with ruff surfaces is placed between two plates, the fibre is pressed by the plates when the pressure increases the attenuation of the fibre increases due to this. Bend and micro bend sensor: Bent in a optical fibre leads to a portion of propagating light beam along the bend is incident at angles must be smaller than the critical angle by which attenuation, this can be used for sensing measure load and stream are found by this mechanism, lose of power occurs if any load lead to a bending of fibre. This measure gives the distribution of strain and load with the use of lost power. A series of random bends and small bends along the fibre is known a micro bending. It acts as a coupling between cladding and core modes in a single mode fibre and between multimode fibre. Fibre bragg grating(FBG Sensor): TO MEASURE TEMPERATURE AND STRAIN: To measure sensing mechanical strain, temperature and acceleration we use FBG sensors. Parameters that changes any of these results in a change in reflected wavelength, these changes when measured, sensing or external perturbations can be done. Long period grating sensor: Periodic perturbations along the length of the fibre with periods greater than hundred micro meters which includes coupling between the light propagating in core and cladding is long period grating. Cladding code influence the power transmitter through the fibre used to find the refractive index when there is any change in the medium around the fibre. Interferometric sensors: # In this the light is transmitted through to fibres. one of them (reference arm) isolated from environment and its properties are constant. And another fibre (measure arm) is exposed to parameter during sensing. The face of the light is changed by the parameters. The interferometric sensors has the greatest sensitivity and it has highest performance capabilities. The Interferometric sensor. ( John F.R, 1997, pp-543). ADVANTAGES OF FIBRE OPTICS SENSORS: It allows an access to normally inaccessible areas of interest. It is an non-electrical. Due to small size and less weight of the sensors it effective in cost. It has high sensitivity. It has high reliability. It is very easy to install. Transmitter: Transmitter converts electrical signal into light signal. It has two functions Light emitter Regulator Light emitter: It works as a soirce of light coupled into optical cable. Regulator: It modulates the light to represent the binary data. Light emitting diode: The transmitter are directly modulate when the drive current passed through the LED is varied. The power is directly proportional to the current flowing in the LED. According to the applications the drive currents is measured. The drive current is switched on and off in digital applications. And the current is varied in Analog application. The LED transmitter is packed with the receiver since the space is reduced and simplifies the circuit designing which reduces the cost. Characteristics of the LED: Recommended operating conditions. Electrical characteristics Optical characteristics Data rate Recommended operating conditions: It describe the temperature and voltage ranges that device can operate in without damage. Without any fluctuations the maximum and minimum operating temperatures can be measured. Electrical characteristics: It describes.. the required supply current Data output voltages Signal detect output voltages Rise fall times Optical characteristics: It includes Minimum optical input power Maxcimum optical input power Operating wavelength

Bolsheviks and Britain in World War One :: World History Regeneration Barker Essays

"Bolsheviks and Britain in World War One" During one of the therapy and wit sessions between Rivers and Prior at Craiglockhart, we discover that class struggle is an issue plaguing Prior. Pat Barker introduces the reference to Bolsheviks on page 135 in order to have her readers strictly denounce the caste system of British society, both for the soldiers returning home, and also the women who continued to be victims of the same system in Britain during World War One. Understanding the role Bolsheviks play in affecting Britain's soldiers and citizens during World War One first requires background information on both Russian interests and Russia's relationship to Germany. Russia entered World War One after Germany declared war against Russia due to an alliance system between Germany and Austria. The Russians had little success in repelling the Germans, illustrated by the disaster at Tannenberg where more than 30,000 Russians soldiers died (Sherow). Germany subsequently made large gains into Russian territories. Tsar Nicholas II had no choice but to abdicate the throne in March 1917, allowing the Bolsheviks to take power (Sherow). It is very important to note that the Germans allowed "prominent Bolsheviks like Lenin and Trotsky" to pass by rail through their country "to start a revolution and knock Russia out of the war" (Simpson). Due to the Bolshevik revolution not completely coming from a democratic mandate from the people, Britain shows extreme suspicion towards Russian motives henceforth. Distrust and skepticism within Britain toward the new Bolshevik government led to Britain's reluctance to support it and a hands off diplomatic approach to Russian problems. By 1917 it was evident that the "question of peace and war would be a bitter source of controversy within the Bolshevik party" (Kowalski 11). Lenin had uncompromisingly defended his position not to continue the war, a decision that was leading to a split in the upper ranks of the party (Kowalski 33). His reasoning was that any imperialist states should not be negotiated for peace, instead calling "for an international civil war against world capitalism" (Kowalski 11). Lenin’s statements are quite a shock for the newly opened spheres of investments that had led to a great interest in Eastern Europe industries (Sherow). France and even Britain had loaned out much money to facilitate the growth --and, hopefully, returns-- in Eastern Europe; any resort to war at this point would cost both countries dearly (She row).

Pagan Elements in Whos Afraid of Virginia Woolf Essay -- Whos Afraid

Pagan Elements in Who's Afraid of Virginia Woolf    "I am preoccupied with history" George observes in Act I (p. 50) of Edward Albee's Who's Afraid of Virginia Woolf. But his relationship with his wife, Martha, seems to lean almost towards anthropology. Pagan social and religious elements in Albee's work seem to clarify and enhance the basic themes of the play.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Pagan trappings adorn the whole structure of the play: the prevalence of alcohol, the "goddamn Saturday night orgies" (p. 7) Martha's father throws, Martha's identification as "the only true pagan on the eastern seaboard... [who] paints blue circles [of woad?] around her things" (p. 73) or "the Earth Mother" (p. 189), or George's injunction, in Old Testament language, to "just gird your blue-veined loins, girl" (p. 205). The stage seems set for religious ritual. Even the act titles have pagan religious significance. "Fun and Games" are of course the prelude to many a religious event, even in the Christian Easter and Christmas. "Walpurgisnacht" or "St. Walburga's Night" is the evening before May Day, when Christians claim witches and nightmares are on the roam. But May Day and the evening before is also the pagan Beltaine, a day of fertility rituals as the God and Goddess bring vitality and passion to Nature -- a maypole signifies masculine fertility; the flowers about it show feminine vitality ("flores para los muertos"? (p. 195)). And "The Exorcism" is a banishment of the spirit of evil, in the sacrifice of the imaginary child who has become a scapegoat bearing all George and Martha's sins. Martha tries to wield her power like an old-style matriarch, saying "I wear the pants in this house" (p. 157) and controlling Nick as a "houseboy" (p. 1... ...avior by sweeping away its very foundation, by changing her beloved son into the pagan scapegoat who bears away all the twisted, hateful history they have both constructed around him. The pagan elements in Who's Afraid of Virginia Woolf? strengthen the main themes and plot of Albee's play. Martha's boisterousness and sexuality make her a sort of pagan priestess, but one trapped by the myths and illusions she has constructed in her worship. But George's Latin burial service at last banishes the restless spirit who had so haunted his relationship with Martha, and it bears away much of their tortured past, making a fresh slate. Samhain has been fulfilled: the God and Goddess begin again, to build a new, more fertile relationship between themselves for the new year. Page numbers for Who's Afraid of Virginia Woolf? are taken from the 1984 Atheneum edition.

African American Bell Curve Essay -- essays research papers

The bell curve of African American rights has risen and fallen throughout America’s history. The period between the Pre-Civil War Era and the Post Civil War Era, were momentous in displaying the status and rights of African-Americans in the time. As the Civil War approached, the status of African-Americans was an increasingly troubling issue among the American Public. During the War, the bell’s curve had reached its height. And during the Post-Civil War, the curve fell slowly and would not rise again for another 100 years. The cause of this racial bell curve is a series of political and social events that directly affected the lives of African Americans.   Ã‚  Ã‚  Ã‚  Ã‚  The Compromise of 1850 marked the initial rise of Black loss of rights in this period. Previously, it was possible for Northerners to ferry slaves to their freedom. However, “Included in the compromise were funds budgeted specifically for catching fugitive slaves and prosecuting anyone lending assistance in the effort'; (Kevin Holloway, The Fugitive Slave Act and the Compromise of 1850). With specific funds that were directed in catching fugitive slaves, white bounty hunters could freely raid the North and search for fugitive slaves. These brutal hunters could now abduct any Black person left alone. Many Blacks that were never in bondage were kidnapped and taken to the South to be slaves. This legislation limited the rights of African Americans and enabled the white populous to oppress African Americans.   Ã‚  Ã‚  Ã‚  Ã‚  The bell curve approached its peak when the novel Uncle Tom’s Cabin was introduced to American Culture. This novel, by Harriet Beecher Stowe, was a revelation to the North because it displayed the cruelty of the southern trade practice. This single piece of literature created uproar throughout the country. The North was outraged by its tale of tragedy, deceit and hate. The South was outraged by its conception of slavery and its bashing of the southern culture. Either way, it marked an event in American History that would change history forever. African American status was now a major issue among Americans. Abraham Lincoln, in remarks to her book, once said to Harriet Beecher Stowe, “So you are the little lady that caused the big war.'; The quote displays the impact in which this one novel broug... ...created by Lincoln to educate the Freemen, and to make sure that the Blacks were not totally stripped of their rights. Along with the Freedmen Bureau, various laws and codes were passed (that had little effect) that also protected the rights of Blacks. After the Civil War, it was a time of Reconstruction. The Black Slave Factor was eliminated; blacks were now ignored and would not be heard for another 100 years. The bell’s curve fell.   Ã‚  Ã‚  Ã‚  Ã‚  Between the Pre-Civil War and Post Civil War periods, the rights and social place of Blacks had risen and fell similarly to that of the curve of a bell. The height of the curve reached its peak during the war, and fell after. The Compromise of 1850, Uncle Toms Cabin, and John Brown’s rebellion all marked the rise in the bell curve. The Civil War, and the Emancipation Proclamtion marked the peak in the bell curve. The 13th and 14th amendments, along with the Jim Crow laws and the establishment of the Freedmen’s Bureau all marked the decline in the Bell curve. 100 years later, the bell’s curve would reach its climax once again during the Civil Rights Movement, and once again, fall.

Financial Accounting 3 Summary

CHAPTER 1: FINANCIAL STATEMENTS Financial Statement – the means by which the information accumulated and processed in financial accounting is periodically communicated. General purpose financial statements -PAS1 prescribes to ensure comparability both with the entity’s financial statements of previous periods and with the financial statements of other entities. -statements intended to meet the needs of users who are not in a position to require an entity to prepare reports tailored to their particular information needs. Components of financial statements 1. Statement of financial position 2. Income statement 3. Statement of Comprehensive Income 4. Statement of Changes in Equity 5. Statement of Cash Flows 6. Notes comprising a summary of significant accounting policies and other explanatory information objectives of financial statements -to provide information about the financial position, financial performance and cash flows of an entity that is useful to a wide range of users in making economic decisions. General features of financial statements Going Concern An entity preparing PFRS financial statements is presumed to be a going concern. If management has significant concerns about the entity’s ability to continue as a going concern, the uncertainties must be disclosed. If management concludes that the entity is not a going concern, the financial statements should not be prepared on a going concern basis, in which case PAS1 requires a series of disclosures. Accrual Basis of Accounting PAS1 requires that an entity prepare its financial statements, except for cash flow information, using the accrual basis of accounting. Materiality and Aggregation Each material class of similar items must be presented separately in the financial statements. Dissimilar items may be aggregated only if they are individually immaterial. Offsetting Assets and liabilities, and income and expense, may not offset unless required of permitted by a Standard or an Interpretation. Frequency of Reporting An entity shall present a complete set of financial statements at least annually. Comparative Information PAS 1 requires that comparative information shall be disclosed in respect of the previous period for all amounts reported in the financial statements, both face of financial statements and notes, unless another Standard permits or requires otherwise. Consistency of Presentation The presentation and classification of items in the financial statements shall be retained from one period to the next unless a change is justified either by a change in circumstances of requirement of a new PFRS. Measurement of elements process of determining the monetary amounts at which the elements of FS are recognized and carried in the statement of financial position and income statement. Measurement base on financial attributes 1. Historical cost- amount paid or the face value of the consideration given to acquire assets at the time of acquisition. 2. Current cost- amount that would have to be paid if the same or an equivalent asset was acquired currently. 3. Realizable value- am ount that would currently be obtained by selling the asset in an orderly disposal. 4. Present value- discounted value of the future net cash inflows that the item is expected to generate in the normal course of business. CHAPTER 2: STATEMENT OF FINANCIAL POSITION The Statement of Financial Position Elements Asset An asset is a resource controlled by the entity as a result of the past events and from which future economic benefits are expected to flow the entity. Liability A liability is a present obligation of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits. Equity Equity is the residual interest in the assets of the entity after deducting all its liabilities. Statement of Financial Position Presentation An entity must normally present a classified statement of financial position, separating a current and noncurrent assets and liabilities. Only if a presentation based on liquidity provides information that is reliable and more relevant may the current/noncurrent split be omitted. In either case, if an asset (liability) category commingles amounts that will be received (settled) after 12 months, note disclosure is required that eparates the longer-term amounts from the 12-month amounts. An asset shall be classified as current when it satisfies any of the following criteria: * It is expected to be realized in, or is intended for sale or consumption, in the entity’s normal operating cycle; * It is held primarily for the purpose of being traded; * It is expected to be realized within 12 months after the reporting period; or * It is ca sh or a cash equivalent unless restricted from being exchanged or used to settle a liability for at least 12 months after the reporting period. All other assets shall be classified as noncurrent. A liability shall be classified as current when it satisfies any of the following criteria: * It is expected to be settled in the entity’s normal operating cycle; * It is held primarily for the purpose of being traded; * It is expected to be settled within 12 months after the reporting period; or * The entity does not have an unconditional right to defer settlement of the liability for at least 12 months after reporting period. All other liabilities shall be classified as noncurrent. Long-term debt expected to be refinanced under an existing loan facility is noncurrent, even if due within 12 months. If a liability has become payable on demand because an entity has breached an undertaking under a long-term loan agreement on or before the balance sheet date, the liability is current, even if the lender has agreed, after the balance sheet date and before the authorization of the financial statements for issue, not to demand payment as a consequence of the breach. However, the liability is classified as non-current if the lender agreed by the balance sheet date to provide a period of grace ending at least 12 months after the balance sheet date, within which the entity can rectify the breach and during which the lender cannot demand immediate repayment. When an entity presents current and non-current assets and liabilities as separate classifications on the face of the BS, it shall not classify deferred tax assets (liabilities) as current assets. CHAPTER 6: ACCOUNTING CHANGES Changes in accounting estimate A change in accounting estimate is a normal recurring correction or adjustment of an asset or liability which is the natural result of the use of an estimate. Examples of accounting estimate a. Bad debt b. Inventory obsolescence c. Useful life, residual value, and expected pattern of consumption of benefit of depreciable asset. d. Warranty cost e. Fair value of financial assets and financial liabilities Changes in accounting estimates are to be handled currently and prospectively, if necessary. Prospective recognition of the effect of a change in accounting estimate means that the change is applied to transactions, other events and conditions from the date of change in estimate. A change in depreciation method is accounted for as a change in accounting estimate. Accounting policies -are the specific principles, bases, conventions, rules and practices applied by an entity in preparing and presenting financial statements. Changes in accounting policy A change in accounting policy shall be made only when: a. Required by an accounting standard or an interpretation of the standard. b. The change will result in more relevant or reliable information about the financial position, financial performance and cash flows of the entity. Examples of change in accounting policy a. Change in the method of inventory pricing from the FIFO to weighted average method b. Change in the method of accounting for long term construction contract. c. The initial adoption of policy to carry assets at revalued amount d. Change from cost model to fair value model in measuring investment property and property, plant and equipment e. Change to a new policy resulting from the requirement A change in accounting policy required by a standard or an interpretation shall be applied in accordance with the transitional provisions therein. If the standard or interpretation or transitional provisions or if an accounting policy is changed voluntarily, the change shall be applied retrospectively. Retrospective application means that any resulting adjustment from the change in accounting policy shall be reported as an adjustment to the opening balance of retained earnings. The amount of the adjustment is determined as of the beginning of the year. Prospective application means that the new accounting policy is applied to events and transactions occurring after the date of change. Change in reporting entity A change in reporting entity is a change whereby entities change their nature and report their operations in such a way that the financial statements are in effect those of a different reporting entity. CHAPTER 7: INTERIM FINANCIAL REPORTING Interim report is a financial reporting period shorter than one financial year. Components of an interim financial report a. Condensed statement of financial position . Condensed income statement c. Condensed statement of comprehensive income d. Condensed statement of cash flows e. Selected explanatory notes Under PAS 34, paragraph 28, the general rule in preparing interim financial statements is that costs and expenses that clearly benefit more than one interim period are allocated to the interim periods affected. Inventory loss from market decline is reported in the interim period in w hich the decline occurs. Recovery of such loss on the same inventory in later interim period is recognized as gain in the later interim period. However, any gain on reversal of inventory writedown is limited only to the amount of loss previously recognized. The effects of a disposal of segment of business are reported separately in the interim periods in which they occur. PAS 34, paragraph 39, provides that cost incurred unevenly during a financial year shall be anticipated or deferred for interim purposes only if it is also appropriate to anticipate or defer such cost at the end of the financial year. Gains should be recognized in the interim period in which they are realized. The cumulative effect of change in accounting policy is shown in the statement of retained earnings, not in the income statement. CHAPTER 8: OPERATING SEGMENT Under PFRS 8, an entity shall disclose information about an operating segment that meets any of the following quantitative thresholds: 1. The segment revenue, including both sales to external customers and intersegment sales or transfers, is 10% or more of the combined revenue, internal and external, of all operating segments. 2. The segment profit or loss is 10% or more of the greater of the following: a. The combined profit of all operating segments with profit b. The combined loss of all operating segments with loss 3. The assets of the segment are 10% or more of the combined assets of all operating segments. Under PFRS 8, paragraph 13, segment revenue includes sales to external customers and intersegment sales of operating segments engaged solely in manufacturing. Revenue includes both sales to unaffiliated customers and intersegment sales. Under PFRS 8, paragraph 15, the total external revenue attributable to reportable operating segments must be at least 75% of the total entity external revenue. General corporate expenses are not allocated to operating segments as a measure of profit or loss. If the total external revenue attributable to reportable segments constitutes less than 75% of the entity external revenue, additional segments shall be identified even they do not meet the 10% quantitative threshold until 75% of the entity external revenue is included in reportable segments. Moreover, reportable segments that are below the10% threshold can be aggregated as one segment if they have similar economic characteristics and share a majority of the five aggregation criteria as follows: a. Nature of product b. Nature of production process c. Class of customer d. Method of distributing product e. Regulated environment CHAPTER 9: CASH AND ACCRUAL BASIS Method of Accounting. 1. Cash Basis- Income is recognized when received regardless of when earned, and expense is recognized when paid regardless of when incurred. 2. Accrual Basis- Income is recognized when earned regardless of when received, and expenses are recognized when incurred regardless of when paid. Computation of sales under accrual basis Cash Sales XX Sales on account: Trade accounts and notes receivable XX Collection of Trade accounts and notes receivable XX Sales returns, allowances and discounts XX Accounts and notes receivable write off XX Trade notes receivable discounted XX Total XX Less: trade accounts and notes receivable,beg XX Total Sales XX Computation of Purchases under Accrual Basis Cash Purchases XX Purchases on account XX Trade accounts and notes payable,end XX Payment of Trade accts and Notes payable XX Purchases return, discounts & allowances XX Total XX Less: Trade accts and notes payable,beg XX Total purchases XX Income other than sales Income received XX Add: Deferred income- beg XX Accrued income- end XX Total XX Less: Deferred income- endXX Accrued income- begXX XX Income for the current year XX Expenses in general Expenses paid XX Add: prepaid expenses- beg XX Accrued expenses- end XX Total XX Less: Deferred income- endXX Accrued income- beg XX XX Income for the current year XX Prepaid expenses are expenses paid in advance but not yet incurred. These are assets. Accrued expenses are expenses already incurred but not yet paid. These are liabilities. CHAPTER 10: SINGLE ENTRY Single Entry System A system of record keeping in which transactions are not analyzed and recorded in the double entry framework is called a single entry system when the records are said to be incomplete. CHAPTER 11: ERROR CORRECTION Prior Period Errors Prior period errors are omissions from, and misstatements in, an entity’s financial statements for one or more prior periods arising from a failure to use, or misuse of, reliable information that was available and could reasonably be expected to have been obtained and taken into account in preparing those statements. Such error result from mathematical mistakes, mistakes in applying accounting policies, oversights or misinterpretation of facts, and fraud. Prior period error shall be corrected by retrospective restatement, meaning, if comparative statements are presented, the prior year statements are restated to correct the error. Types of Errors a. Statement of financial position errors *affect the statement of financial position and real accounts only, meaning, the improper classification of an asset, liability and capital account. b. Income Statement errors * affect the income statement or nominal accounts only, meaning, the improper classification of revenue and expense account c. Combined statement of financial position and Income statement errors * affect both the statement of financial position and income statement ecause they result in a misstatement of net income If it is impracticable to determine the period specific effect of an error on comparative information for one or more prior periods presented, the entity must restate the opening balances of assets, liabilities, and equity for the earliest period for which retrospective statement is practicable (which may be the current period) Further, if it is impracticable to determine the cumulative effect, at the beginning of the current periods, the ent ity must restate the comparative information to correct the error prospectively from the earliest date practicable. CHAPTER 12: STATEMENT OF CASH FLOW Cash comprises cash on hand and demand deposits. Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. Cash flows are inflows and outflows of cash and cash equivalents. Operating Activities are the principal revenue-producing activities of the entity and other activities that are not investing or financing activities. Investing activities are the acquisition and disposal of long-term assets and other investments not included in cash equivalent. Financing activities are activities that result in changes in the size and composition of the contributed equity and borrowings of the entity. *Interest and dividends received and paid may be classified as operating, investing, or financing cash flows, provided that they are classified consistently from period to period. Interest paid – usually operating; alternatively financing Interest received – usually operating; alternatively financing Dividends received – usually operating; alternatively financing Dividends paid – usually financing; alternatively operating FINANCIAL STATEMENT ANALYSIS THE BASIC FINANCIAL STATEMENT ANALYSIS 1. HORIZONTAL OR COMPARATIVE ANALYSIS -represents the differences in absolute amount and in percentage between two periods (i. e. years, quarters, etc. ), two companies, actual and budgeted date, and other bases analyses. Percentage of changes= Amount of change/Base 2. TREND ANALYSIS It extends beyond two years. The purpose of trend analysis is to track down what happened in the past and provide a pattern on what may happen in the coming years. It uses indexes and ratios to simplify the visible complications of numbers contained in financial reports. . THE VERTICAL ANALYSIS (OR COMMON-SIZE ANALYSIS) It gets the proportional component of each of the variables in the financial statements in relation to a chosen base 4. THE FINANCIAL MIX RATIO CLASSIFICATION OF FINANCIAL MIX RATIOS a. Profitability Ratios It measures the ability of the business to generate profit in relation to sales, investments, assets, equities, or common shares outstanding. â⠂¬ ¢RETURN ON SALE = Net Income Net sales †¢GROSS PROFIT RATE = Gross Profit Net Sales †¢RETURN ON TOTAL ASSETS = Net income + Interest expense, net of tax/ average total assets RETURN ON SHE = Net income Ave. SHE b. Growth Ratios -Are indicative of the organization’s potential and attractiveness as an investment option. EARNINGS PER SHARE = Net income – Pref. dividend Ave. common shares outstanding BOOK VALUE PER SHARE = Shareholder’s Equity Ave. shares outstanding c. Liquidity Ratios Liquidity refers to the ability of the business to pay its obligations in cash as they mature. OPERATING TURNOVER = collection period + inventory days INVENTORY TURNOVER = COGS Ave. inventory INVENTORY DAYS = 360/ inventory days RECEIVABLE TURNOVER = Net credit Sales Ave. Trade receivables COLLECTION PERIOD = 360/ ARTO PAYABLE TURNOVER = Net credit purchases Ave. Trade payables PAYABLES DAYS = 360/ payable turnover NET WORKING CAPITAL = Current Assets-Current Liabilities CURRENT RATIO = Current asset/ Current Liabilities QUICK RATIO = Quick Assets/ Current Liabilities d. Leverage Ratios Financial leverage is a measure of risk. DEBT to EQUITY RATIO = total debt Net SHE DEBT to ASSET = Total debt total assets TIME INTEREST EARNED = EBIT interest expense

An alternative approach Boots could use is a loyalty card, which means that after every purchase in a Boots store, a customer would receive points

An alternative approach Boots could use is a loyalty card, which means that after every purchase in a Boots store, a customer would receive points. A single point could be the equivalent to a penny so if a customer collects 500 points they would be able to purchase goods worth up to Five pounds. Loyalty cards have advantages for customers and the stores. Customers have the benefit of receiving points, which means discounts on many items in Boots shops so they save money. Boots have the advantage that they will keep customers returning to their shops because of the card. It appears that customers like the idea of loyalty cards, these cards were to be stopped but customers objected. Other businesses have also started using loyalty cards; an example of this is the Nectar card. The Nectar card is a new reward programme created by Sainsbury's, Barclaycard, Debenhams and BP. It has the same idea as a Boots card as when you pay at the till at any of the shops, the Nectar card will be swiped and any points added to your account. When you pay by Barclaycard anywhere in the world your points will be added to your Nectar account each month. The screen shot below shows the Nectar Card. Screen shot 1 Once you've collected enough points for the rewards you want, you can choose from a range of free meals, days out e.g. to theme parks or museums, flights abroad e.g. to European cities or resorts, cinema tickets and discounts on goods, groceries and wine. The points can also be used to save money at Sainsbury's or Argos. If Boots introduced the card then this would increase customer loyalty, as customers will keep returning to the store to make use of the card. Machines in the store will be set up to allow customers to check their points. As customers are receiving points for their purchased products and they can then use these points to buy other items this gives the idea that they are ‘getting something for nothing'. On Boots website there could also be section where customers can check their points. Customers could type in their personal identification number found on the card and then access the information. (See screen shot 1) Another approach could be for Boot's to ‘push' their own products. This means, within Boots stores they could make customers more aware of Boots own brand products e.g. deodorants, shampoo and moisturiser. In a Boots store within the cosmetics section there are stands for Max Factor and Maybelline, Boots also already offer own brand names such as No7, 17 and Botanics. Boots could have their own section for No7 products for example. Sales Assistants as these counters could help customers select cosmetics from Boots own brand items which would mean it is more likely for these items to be bought. Screen shots of some of Boots own products Another way of doing this could be to start offers on selected Boots items. An example of this could be ‘buy one get one free' or if three items are bought get the cheapest one free. Also using the loyalty card suggested in the first alternative approach Boots could have ‘double points' on own brand items. If customers begin to see that Boots products are better than other leading brands, e.g. Boots deodorant compared against Sure deodorant, then they will start buying more of own brand products. This will in turn lead to a bigger turnover for Boots as more customers are buying their items instead of other brands. A benefit of this to Boots employees is within the production process. If more own brand items are demanded then more will have to be produced which means more jobs required for the production process. For the loyalty card to happen, Boots would need to introduce appropriate swipe machines in all shops at each till or cashier desk. This machine would need to be able to read the card to see who the customer is, how many new points have to be added and how many are already on the card. A computer may also be needed for customers to check how many points they have collected. For customers to check the number of points they currently have on the website a number of functions may need to be involved within the business. The ICT department may need to spend a lot of money on maintaining and designing the website. The administration department would need to hold details of the customers and transfer them to the ICT department to be used. Staff would also have to be trained with the knowledge of how to work the swipe machine. They would also have to be able to explain to customers how the card works and how to use the computer for checking points. The may add extra cost to Boots as training and development section of Boots may need to be brought in. In the Administration department of Boots they would have to send out all the paper work to customers with such details of registration forms for the loyalty card e.g. if customers change their name or address. Leaflets and fliers may also be sent out to tell customers about new offers on the points, e.g. double points for selected items. The administration function would also have to do this. For pushing Boots own brand products the layout of the store may need to be changed to put more emphasis on these products e.g. stands to place Boots shampoo on. This may involve the Boots store to be re-arranged. Posters and leaflets may be needed to advertise the products, which would be put up on windows and the ceiling. Administration department would be responsible for sending customers information on special offers concerning their own brand products. All this would cost Boots a lot of money as it involves bringing in new machines and computers to deal with the advantage swipe cards. A lot of expense is needed for the software to deal with customers accessing details on the website. The maintaining of the website would also be very costly to Boots. For new staff to work with the swipe machines would also cost money and time would have to be spent for the training of it. All the paper work and leaflets, which need to be sent out to customers detailing them of special offers, would also cost Boots money. However, customers would be satisfied as they have the advantage of saving money on products with the advantage card and with special offers on the own brand products, which may mean they begin to shop at Boots more often spending money. They also may then begin to shop at Boots for items other than cosmetics e.g. at the Boots opticians or at Boots Photo. Ultimately, Boots would be achieving its objectives as it would be increasing turnover which the increase in sales which these alterative approaches should bring.

Global and Indian Fashion Houses

Global Fashion Giants: Gucci and Louis Vuitton In order to understand the key success factors required for any fashion powerhouse to succeed in the global scenario, we decided to look at two of the world’s largest fashion conglomerates – Gucci and Louis Vuitton. We looked at the evolution of these companies and also at the different strategies these companies have employed over time to achieve the position in the world fashion market they have today. This analysis helped us in figuring out the feasibility of a similar fashion powerhouse emerging from a country like India. The complete listing of our findings from these 2 companies from the cases we analyzed is given in Exhibit 1. Shanghai Tang – the Chinese lifestyle brand After looking at the cases of the 2 global giants, we figured that the context and market in which these companies have operated are completely different from what the same would be for a company emerging from India. In order to understand the aspects of establishing a fashion powerhouse in an Indian context, we took a look at Shanghai Tang, the leading Chinese lifestyle brand. Similar to India, the Chinese market also has a niche segment in the global fashion market, and hence the learning from this company helped us better understand the issues, challenges, key success factors, etc. , for a fashion powerhouse emerging from India. Our findings from analysis of the Shanghai Tang company are given in Exhibit 2. Names in Indian Fashion Although the Indian fashion industry is projected to grow at a high rate of close to 10%, the industry is still largely fragmented with no major fashion powerhouse that provides holistic fashion solutions to its customers. There is still no single fashion house to compete with companies like Gucci or Louis Vuitton. Though there are a lot of individual designers with famous international icons in their list of clientele, none of them seem to have the potential to emerge as a global fashion powerhouse in the near future. An important noticeable trend in Indian fashion houses so far is that most of them are limited to clothes, whereas in order to emerge as a global fashion powerhouse, one needs to have a wide range of fashion goods and brands in their portfolio. In this sense, only JJ Valaya’s â€Å"House of Valaya† omes close to being called an Indian fashion powerhouse, with four brands in their portfolio offering haute couture, footwear, cuisine, furniture, tapestries, stunning fabrics and home furnishings. Some of the leading names in fashion in India today are JJ Valaya, Ritu Kumar, Ritu Beri, Rohit Bal, Manish Malhotra, Manish Arora, Rina Dhaka, Tarun Tahiliani, Abu Jani and Sandeep Kh osla and Wendell Rodricks. A brief account of these names and list of notable clientele is given in Exhibit 3. ? Exhibit 1: Global Fashion Giants: Gucci and Louis Vuitton Case Study: Rise of Gucci Gucci or House of Gucci has a rich history. Founded way back in 1923 as a family run leather saddler shop, this company’s reputation soared high right from the start because of its high quality products. After 15 years, they established their first retail outlet in Rome outside Florence. From the modest beginnings of a small family owned shop, Gucci has come a long way to become a leading name in fashion today, with over 400 stores around the world in different countries. There are also several high-end department stores that house Gucci in their shelves today. Portfolio: Premium leather products such as wallets, bags, car upholstery, clothing and also other fashion items like jewelry, watches, eyewear, ties, perfume, etc. Winning strategy: In the early 1990s, Tom Ford, the CEO of Gucci then put a strategy in place that completely turned the company around and propelled it to the global market, making it the notable fashion label it is today. Elements of the employed strategy are briefly mentioned below: Pricing: Positioning themselves in the right segment ?Lowered prices of all items at an average rate of 30%, bringing their products closer to Prada and Louis Vuitton ? Lowering prices changed Gucci’s image as a more customer oriented company Brand makeover: Coming up with the â€Å"right† product mix ?Shifted focus of products from classic to fashion, thereby changing customer’s perception towards a more glamorous edge ? Completely got rid of low-end products and maintained standard portfolio across the globe Marketing: Changing the theme of advertising ?Greatly increased expenditure on advertising and also changed focus from product to brand ? Associated product with several international personalities, thereby gaining attention from the press Distribution: full-fledged integration ?Forward Integration: Greater control of the distribution process oRemoved distribution channel and setup Directly Operating Stores (DOS) in prime areas oTook over all franchisees in North America ?Backward Integration: Greater control over sourcing oTook over Di Modolo design studio and production facilities ? Acquisitions: More products/brands oBranching out to a multi brand group oAcquired Yves Saint Laurent, Sergio Rossi, YSL Beaute and Boucheron Star Designer Strategy: ?Tom Ford made an iconic symbol for Gucci Case Study: Louis Vuitton Louis Vuitton is one of the oldest French fashion houses. Established in 1854 by Louis Vuitton as a company making flat-bottom trunks with trianon canvas, LV has come a long way to build the iconic brand of Louis Vuitton that holds a huge share in the world fashion market today. Portfolio: Luggage bags, purses, wallets, jewelry, watches, footwear Winning Strategy: The Louis Vuitton strategy has more or less remained the same over the ages, with even their portfolio remaining quite similar since the days of its inception. Let us now look at the different elements of LV’s strategy that ave helped it become the global fashion powerhouse and international influencer of fashion that it is today. Pricing: Communicating high value through high price ?Pricing products very high ?Never offering any price cuts or discount sales Brand makeover: 29th most valuable brand in the world ?Showcasing at famous exhibitions ?Marketing campaigns with celebrities Product: Quality, Quality and Quali ty! ?Remarkable focus on even the smallest of details ?High focus on IPR ?No attempts at production of cheap goods ?Use of latest, state-of-the-art technology Service: ?Lets customers customize their orders ?Delivers to the doorstep Marketing: ?Publicity through word-of-mouth and PR through mass media, never uses television ? Associates brand with famous personalities ?Throws flamboyant parties to attract media attention Distribution: Limited Distribution ?Distribution channels entirely company owned, with products sold only in company owned boutiques or reputed department stores ? Maintains brand image and value through company owned channel ? Company places boutiques in prime locations, also helping in publicity Star Designer Strategy: Marc Jacobs – Face of Louis Vuitton ? Updated and refreshed the company’s image as a luggage maker to one of the most fashionable ready-to-wear and accessories. ?Recreated a brand targeted to younger customers with trendy and fashion-forward look. Exhibit 2: Learning from Shanghai Tang Background: Shanghai Tang is a leading Chinese lifestyle brand. The company was established by David Tang whose main objective was to revive the Chinese traditional fashion and introduce it to the national market, and later go on to become global. Shanghai Tang had a great advantage in the form of backing by a leading Swiss luxury fashion conglomerate – Compagnie Financiere Richemont SA. Since this conglomerate had several famous luxury fashion brands in its portfolio, it helped Shanghai Tang a lot in terms of best practices sharing. Problems faced: ?Went straight into the American/European market without gaining a foothold in the Chinese market, which saw their brand facing huge failure abroad ? Did not fare well in foreign community as brand was mostly traditional Chinese merchandize ? No proper standing in European and American markets High price not justified in the Chinese market due to lack of standing in foreign markets New Strategy: Conquer your home before going out ?Main strategy – Capture local market before going global ? Main goal – be the ambassador of the modern Chinese styles ? Main motive – Reintroduce traditional Chinese aesthetics to the new consumer audience Relevance to Indian f ashion scenario: ?Presence of a niche market for Indian fashion in global markets, similar to Chinese fashion ? Similar, much localized flavor which must be paid attention to while designing an international fashion brand Exhibit 3: An account of the Indian fashion houses JJ Valaya Often referred to as the ‘Monarch of Indian Fashion', Valaya’s house of fashion is possible the only Indian fashion house that comes close to being called a fashion powerhouse. His collection of hand embroideries and exquisite bridal trousseau are a rage in the fashion world globally. His label that was established almost three decades earlier still has strong grip of the market and excels in wedding attires and evening wears, for both men and women. Career and success: JJ Valaya was the first designer to host a solo fashion show in India. He was also the first Indian designer to showcase his collection along with prominent International Designer Todd Oldham. Hand in hand with brother, TJ Singh's entrepreneurial abilities, he launched his brand â€Å"JJ Valaya† in 1991. His brand consisted of Couture line of attire, which gained great accolades from the fashion fraternity. This was followed by â€Å"Valaya Home† in 1996 and a pret label â€Å"Studio Valaya† in 1999. In September 2006, House of Valaya entered into a licensing agreement with Genesis Color Private Ltd to design and manufacture its diffusion label â€Å"Valaya Quantum†. Valaya's novelty and his brother's entrepreneurial capabilities have made the House of Valaya a pioneer in the Indian fashion Industry. He is a founder member on the Board of Governors of the Fashion Design Council of India (FDCI) and the Official Brand Ambassador for Swarovski, India. Brand and Clientele: House of Valaya is one of India's most respected fashion houses. It not only caters to fashion lovers, but also provides a whole lot of luxury products, such as furniture, tapestries, stunning fabrics and home furnishings, haute couture and footwear, apart from cuisine. JJ Valaya has several successful solo fashion shows in his kitty, including the ones in New York, London, Paris, Dubai, Singapore, Hong Kong and Johannesburg as well as in most major Indian cities. He also made an entry into Bollywood, with the film Yaadein. Ritu Kumar An icon of the Indian Fashion industry and a frontrunner in establishing a position for India in the global forum, Ritu Kumar's contribution has been impeccable to the fashion fraternity, both nationally and internationally. With almost five decades of work for display, the designer excels in both traditional and western outfits, though ethnic attires are her specialty. She was the first women to bring the boutique culture to India, under the name â€Å"Ritu†. Career and success: Starting at a smaller scale, Ritu Kumar has diversified her works of art globally. Though she excels in contemporary and classic style, she has also evolved indo-western fusion to attract the gamut of European buyers. Some of her global achievements include the wardrobes for Miss India, for participation in the International beauty pageants like Miss Universe, Miss World & Miss Asia Pacific, respectively. Brand and Clientele: The brand â€Å"Ritu† has acquired great accolades internationally. The designer has not only restrained her work to the fashion industry, but has also dived into the other sectors that offer luxury to the people. The brand also launched a fragrance by the name â€Å"the tree of life†. In April 2002, Ritu Kumar launched her new sub brand, ‘LABEL'. She has twelve outlets in India, which offer a range of products from the conventional to the contemporary. Ritu Beri Ritu Beri is one of the top Indian fashion designers who have been continuously serving Indian fashion industry with her feminine and funky designer apparels. Career and success: Fashion designer Ritu Beri has made a consistent progress in her life. She started off by designing clothes for friends and relatives. Later on in 1990 she made her first move towards establishing her own fashion studio ‘Lavanya' from where she designed her maiden collection, a couple of which were instantly sold. Influenced by India's rich cultural heritage she has come up with the most splendid designs. She has also been given the challenge of designing for Indian counterpart in the curtain Raiser ceremony of Olympics at Atlanta. Apart from being a fabulous and top fashion designer she is a very good human being. She has got the heart of gold. She is highly compassionate for animals for which she has also started a project called ‘Caring means sharing'. The funds raised through this collection would go for animal care. This collection would exhibit a wide array of products. This charming woman has the fire to make a difference in the fashion world. Brand and Clientele: She started participating in International Fashion shows under the brand name of Ritu Beri since 1998. Her notable international clients are former US President Bill Clinton, Prince Charles, Moulin Rouge, Nicole Kidman, Hollywood actress Andy McDowell, Supermodel Laetitia Casta, famous Parisian Socialite Mrs. Lagerdere, Langes Swarovski & The Swarovski family, Elizabeth Jagger and Jerry Hall. Her notable Indian clients are Madhuri Dixit, Rani Mukherji, Preity Zinta, Parmeshwar Godrej & Shobha De. Manish Malhotra Fashion designer Manish Malhotra, a passionate fashion savvy has made his special position in the Indian film Industry. He has beautified the Indian film star celebrities with his impeccable designer outfits. Indian designer Manish Malhotra entered into the Bollywood parlance by designing wardrobe for Juhi Chawla. In the list of top young celebrity fashion designers, he is the most shining star who has been successful in earning both name and fame. Career and success: Manish Malhotra is truly a master of fashion and has achieved a tremendous appreciation. His work has been honored with various awards like Filmfare Award, Showtime Opinion Poll Award, Siemens’ Viewer's Choice Award, Bollywood Award and the Lux-Zee Cine Award. He is continuously delivering quality work for fashion boutique ‘Reverie' with which he is associated since 1998. This budding star of yesterday has truly become the pride of Bollywood. Brand and Clientele: Manish has designed costumes for almost all top actresses from sensuous Sridevi, Urmila Matondkar, Shilpa Shetty, and Manisha Koirala to elegant and graceful Aishwarya Rai, Rani Mukherjee and Preity Zinta. Manish has made an incredible contribution to various Blockbuster light comedy films like Rangeela to romantic movies like Dil To Pagal Hai, Kaho Na Pyar Hai and Dilwale Dulhaniya Le Jayenge. The highlights of Manish's career also include designs for Michael Jackson and British super model Naomi Campbell. The high-profile couture store ‘Reverie – Manish Malhotra' launched by him in 1998 was set up in association with industrialists Yash and Avati Birla which further received a tremendous response and the cream of Mumbai high society and rich non-resident Indians become his clients. Tarun Tahiliani Tarun Tahiliani is a Bollywood celebrity costume designer who is extremely inspired by ethnic styles. Tarun Tahiliani started off as a fashion retailer by establishing his own fashion boutique in Mumbai and later went on to start his own brand label called ‘Ahilian'. Career and success: Tarun Tahiliani is a Bollywood celebrity costume designer who has always been in the limelight. Extremely inspired by ethnic styles, fashion designer Tarun Tahiliani is of the opinion that Sari is the most elegant dress that has a great dazzling effect. He thinks it is the most apt apparel for sensuous look and brings out the beauty of India women in the most attractive manner. He experiments with colors and fabrics and comes up with his own unique classy designs. According to him Sari has the capability of arousing sensation. He is simply fascinated by Chikan embroidery of Lucknow and is often incorporated in his designs. He also makes use of beads and semi precious stones to embellish the ensemble. He strongly believes that fashion is all about your comfort level with a particular attire. Brand and Clientele: He has designed apparels for the Indian celebrities like Simi Garewal, Katrina Kaif, Deepika Padukone, Minisha Lamba, and Shilpa Shetty. The highlights of his designs are: block printing, bandhini styles, beautiful color combination and rich silhouettes. His bridal collection for both men and women is highly sought after by the rich Indian and the NRI clients. He also designs bags and also does event and interior designing for marriages Rohit Bal Style is the mantra for Rohit Bal, the fashion designer from the enduring valley of Kashmir. The â€Å"Bad Boy† of the fashion world, as Rohit Bal is popularly called, is known for his sophisticated cuts and breathing fabrics. He weaves in the best for both men and women. His creations are a reflection of his own personality- not restrained by any norms. Rohit Bal's creative mind gives a true bent of spirit in his work as well. Being christened by the Times magazine as the â€Å"Master of Fabric and Fantasy†, he purely live up to the expectations of being among the bandwagon of the Indian fashion industry leaders. Subtle in his choice of colors, Rohit prefers to use pastels and earthy tones to dress up his men and women. However, there is no one-signature style that the designer sticks to. Career and success: It was Rohit Bal's first collection which brought success to this talented designer and since then, there has been no looking back. He has made a name globally. Rohit Bal has designed outfits using almost all fabrics. Even Khadi (Indian handloom textile) has been used by the immensely talented designer, to create exclusivity for the raw product and a demand in the market. Rohit has held shows in New York, London, Dubai, Singapore and Paris, including Paris Fashion Week. Rohit Bal was also chosen by the Khadi Gram Udyog, the largest handloom textile operation in India, to work with them. Rohit bagged the ‘Designer of the Year' award at the Indian Fashion Awards in 2006. He was also made ‘Designer of the Year' at the Kingfisher Fashion Achievement Awards in 2001. His line of designer clothes has been sold at even 15000 USD. His style is innovative and inventive and he does not shy away from having popular legends, history, fantasy or folklore on the outfits. Brand and Clientele: The brand â€Å"Rohit Bal† created by the designer has been doing wonders in the fashion scenario. He has opened up a flagship store in Delhi and positioning stores at other places like Mumbai, Bangalore, Ahmedabad, Kolkata and Chennai as well. He also plans to open up stores in Middle East and Europe. After making a name for himself in the fashion fraternity, Rohit has also ventured into the designing jewellery for Kirtilals. He also plans to design and launch men's fashion accessories like cufflinks. The clientele list of this ace designer is a long one, some being celebrities like Uma Thurman, Cindy Crawford, Pamela Anderson, Naomi Campbell and Anna Kournikova. Most of his fashion shows in India, New York, Paris and Singapore are sponsored by The Swatch Group and he is also the brand ambassador for their Omega Watches, since 2001. Abu Jani and Sandeep Khosla Contemporary styles and the revival of bygone works of art molded neatly into modern fashion brocade! This is what Abu Jani and Sandeep Khosla are all about. The duo has made it to the fashion circuit with their sheer talent and inventive potentials of a designer. â€Å"The boys†, as the duo are famously known, have made ethnic apparels with a fresh flavor of trends that comes on year after year. To bring in a resurgence of traditional works of art, the duo has traveled to the remotest area, grasped the art and beautifully executed it in their finest of collections. Abu Jani and Sandeep Khosla are among the few people who have made it big globally. The duo was the first to bring out its collection at Harrods. Career and success: Abu Jani and Sandeep Khosla started with a humble beginning and launched their creative line ‘Mata Hari'. Soon, the magic of traditional and modern art captivated the interest of all and they launched themselves into the international forum. Their launch into the global forum was with a range of shawls, under the brand name of ‘Shakira Caine' mark at Harvey Nichols, Neiman Marcus and Harrods in London, along with Bergdof Goodman in New York and Knightsbridge in UK. Abu Jani and Sandeep Khosla's designer label â€Å"Jashan†, launched in 1989, was previewed at the ‘Save the Children' Charity fundraising ball in London. In December 2003, they won the national award for designing some of the fabulous attires for the movie Devdas, which they had designed for Madhuri Dixit, Shahrukh Khan and Jackie Shroff. Brand and Clientele: Their clientele list includes the who's who of the film fraternity, of both Bollywood and Hollywood. Besides British Prime Minister Gordon Brown's wife, the designer duo also has dressed celebrities like Dame Judi Dench, Dame Maggie Smith, Darcey Bussell, and Sophie Marceau, as its international clients. Apart from creating apparels, Abu Jani and Sandeep Khosla have also ventured into the platform of interior designing, making a mark in this aspect as well. They have designed homes of celebrities like Amitabh Bachchan and Jaya Bachchan, Dimple Kapadia and Nikhil and Shewta Nanda. The duo has its retail flagship stores at Mumbai, Bangalore and Delhi. The beautiful and stunning designs of Abu Jani and Sandeep Khosla bring in a feel of traditionalism, within the realms of modernity. Wendell Roderick Wendell Roderick is among the few designers who are obsessed with Indian fashion with his art designs drawing inspiration from ancient India. One can be sure that his clothes would have no heavy embroideries and no stiff clothes. They would be easy to carry, yet give that elegant look that one aspires to have. Wendell Roderick's clothes could be worn at society at large. His aim, to create a place for Goa in the world map of fashion, has been triumphant only because of his sheer hard work and successful fashion shows. Career and success: It was in 1990 that the designer launched his own label ‘Wendell Roderick'. Three years later after launching his own label, Wendell Roderick shifted base to Goa, creating splendid collections every time, mostly inspired by Tibetan Monasteries, Tribal symbols of Shiva and Vishnu, the Harem at Istanbul, Tattoos of the Lambadi tribe and Clothing the Soul. Wendell Roderick was the first Indian who had got an opportunity to display his collection at the world's largest garment fair at IGEDO, Dusseldorf. Apart from designing, he is also concerned with other sectors of the industry, like addressing on World Costume History, lettering for the country's leading women's magazine, Chairman of the courses committee at the Board of Technical Education, appointed by the Government of Goa, and member Advisory Board of Fashion Institutes and Lakme Fashion Week. He is also a Patron of the Kasturba Gandhi Memorial Trust, Goa that promotes handspun Khadi. Wendell retails at country's best stores, including the celebrated Wendell Rodricks Design Space in Panjim. Brand and Clientele: Wendell Roderick has done a lot of work state of Goa. He has designed uniforms for the Goa State Traffic Police, the Four Seasons, the Goa Marriott Resort, the Vasco Sports Club football team and the staff of the Goa Tourism Development Corporation. Internationally, he was involved with designing advertisements for Wellspun, Delsey, SWATCH Bijoux, Breguet and Raymond Weil. He has earned a lot of recognition in the fashion circuit and has amused people with the simplicity projected in his designs. ELLE's Nirja Shah, models like Achla Sachdev and Nina Manuel keep raving at his designs. The designer has also worked with renowned Kathak dancer Daksha Sheth. Right now, he plans to launch a book on Goa's clothing tradition. Rina Dhaka he ‘Goddess of Oomph' of Indian fashion, designer Rina Dhaka styles clothes with a lot of fun. Being in the industry for quite some time, Rina feels that globalization has opened up avenues for young and dynamic women and with it, the options of women designers as well. To be in sync with demand for comfortable, yet stylish outfits for offices, designers are trying out all possibilities of being creative. Rina Dhaka emphasizes silhouette and is willing to take risks. In one collection, she mixed fur and boots with her Indian outfits, to create a unique look. Every time, Dhaka tries to give four to five looks to in her collection. Career and success: It was very early in her career when Rina got accolades for one of her design for the Miss India event from Rohit Khosla, the only ingenious designer of that time. The encouragement acted as a booster for Rina, who was all the more excited to bring out the best in her. Her first show in Singapore â€Å"The Best of Indian Haute Couture† met with a thumping success. Rina has also won a Yuva Rattan award in career, which is spread over almost three decades now. She is best known for her theme collections – sheer trousers, crochet, stretch jersey, woolens and spider web motifs. Western wear still remains an area of dominance, though she also designs ethnic and conventional attires. She prides on the fact that her pieces can be worn as separates. Attaining a lot of success nationally, Dhaka has also achieved accredits internationally. Her works were featured in magazines, such as Vogue and Elle. Brand and Clientele: Rina Dhaka has her collections, under the label ‘Rina Dhaka', in stores like Carma-Delhi, Design Studio-Mumbai, Kimaya-Mumbai, Selfridges-London, Coin-Italy and Lord and Taylor-New York. She has also opened a studio in Hauz Khaz village for Lycra in Delhi. The clientele list of this bold designer includes eminent personalities such as Naomi Campbell, Uma Thruman, Susan Fales Hill, Molly Simns, Tara Palmen Tomkison, Lara Dutta, and Diana Hayden. Her work has been featured in publications such as Marie Claire Paris, Madame Figaro Paris, Vogue London, New York Post, Vanity Fair, etc. Manish Arora Manish Arora is an Indian fashion designer based in New Delhi. In early 2011, he was appointed as creative director of the womenswear collection of the French fashion house Paco Rabanne. Born and brought up in Bombay (now Mumbai), Manish was studying to graduate in Commerce, when he decided to change his career path and applied for the National Institute of Fashion Technology in New Delhi. He graduated in 1994 after winning the Best Student Award. Career and success: In 1997 Manish Arora launched his own label â€Å"Manish Arora† and started retailing in India. Three years later, Manish participated in the first-ever India Fashion Week held in New Delhi and represented India at the Hong Kong Fashion Week. Arora launched his second label, â€Å"Fish Fry†, in 2001. This colorful, sportswear-styled line was created in association with the athletic apparel manufacturer Reebok. During 2002 Manish opened his first flagship store, Manish Arora Fish Fry, in New Delhi and in the following year opened a second store in Mumbai. Another successful showing at India Fashion Week (2003) led to a stocking deal with the fashion house Maria Luisa (Paris) and the beginning of a successful export business. He had a successful debut at the London Fashion Week in September 2005 and received an overwhelming response from the press as well as the buyers. Manish opened his first Manish Arora franchise store in Villa Moda, Kuwait and another Manish Arora Fish Fry store at Crescent, New Delhi in 2006. In 2007 the first Fish Fry for Reebok concept store opened at the Garden of Five Senses, New Delhi, and Arora teamed up with make-up and cosmetics giant MAC for designing a signature collection. He has also collaborated with Swatch for a limited edition of watches. In 2008, once again, Reebok launched the ‘RBK Fish Fry Collection 2008', an exclusive lifestyle range designed by Manish Arora. Indian by Manish Arora†, a brand designed for the growing Indian market for women's wear, is licensed to another fashion company. Manish was invited to show his collection at the â€Å"Fashion in Motion† exhibition held at Victoria and Albert Museum, London in September 2007. By 2009 Manish owned four stores in India and sold his collections to more than 80 retailers worldwide. Brand and Clientele: The three famous brands of Manish Ar ora are – Manish Arora, Fish Fry and Paco Rabanne. In terms of clientele, Manish Arora is mostly associated with pop divas like Katy Perry, Rihanna and Lady Gaga and other international A list celeb clients