Business Economics Changes in UK

Question: Story 1 A firm that is either merging, attempting to take over other firms or diversifying. Story 2 A firm that is being affected by change with respect to at least one of the following general external environmental factors: political, economic, social, technological, legal or ethical/environmental, i.e. affected by changes in at least one of the general PESTLE environmental factors. Story 3 A firm that is being affected by changes in the microeconomic environment; there is change in at least one of the operating environmental categories that is specific to the identified firm, eg. changes with respect to Customers, Competitors, Complementors, or Suppliers. You should clearly describe each story and demonstrate an ability to apply relevant microeconomic and/or macroeconomic concepts in a real world context; your report should analyse each firms situation from a business economists viewpoint as you explain the context, rationale and implications of the story about the firm? Answer: Introduction Recently there have been a lot of changes in UK in various factors starting from mergers and amalgamation to the microeconomic changes. This assignment will focus on three firms. First, Aviva for mergers and acquisition second is Bank of England for the economical analysis and finally is Aer Lingus for micro-economic changes in business environment due to competition. (Baye, 2000). Story 1 Aviva is one of UKs biggest insurers, which posted that 6% rise to 2.17bn, which has reportedly induced smaller rivals to jump 38% to 556m regardless to the new rules of pension which triggered collapse to the annuity sales. After the 5.6bn takeover, Friends Life brand will disappear which will by then bring cost savings of 225m in part, in the course of 1500 job losses (Beattie, Fearnley and Hines, 2013). Both the insurance firms, Friends Life and Aviva have both profits before the 5.6bn takeover, which was anticipated to be approved later this month by the shareholders (Editorial Board, 2013). UKs largest insurer, AVIVA, is acquiring Friends Life at a grave time where all the life insurance firms underneath pressure from the new rules of UK pension which have activated a collapse in the sale of annuities. The firm has posted a rise of 6% in its operating profit for the year 2014 to 2.17bn, which is higher than anticipated. Aviva has rose to 556.5p after there was a 6% rise in the profits of 2014, aligned with the expectations of the investors and also announced 12.25p per share as a final dividend, which takes the payments for total dividend to 18.1 per share for the year (IFC, 2014). On the contrary Friends Life whose performance of the share price has largely been tied to the Avivas since the planned acquisition announcement by its rival was made. The share price rose to 424.4p by 4.5%. The insurer has reported a 38% rise in the full-year profits and has confirmed a dividend of full year of 31.15p per share which is subjected to the takeover by Aviva. This made both Aviv a and Friends Life the biggest toppers on the FTSE 100 index (Eichler and Maltritz, 2013). After the takeover Friends Life will disappear which in return will bring the cost savings of 225m, partially through 1500 the job losses. The chief executive of Aviva refused to give any details about the cuts citing that the company will consult the staff first. There are 16000 employees in UK, which also included 5000 in York and Sheffield based life and pension concern (Das, Raskhit and Debasish, 2009). There have been a lot of questions about the proposed merger. This would be one of the biggest deals in the insurance sector of UK after CGU merged with Norwich Union in the year 2000, which eventually created Aviva. This is the right acquisition in right time which will speed up the subsequent phase of Aviva. The new sales of Aviva declined 16% as the bulk annuity sales failed to overshadow a drop in the individual sales of annuity. The acquisition of Friends will enhance the management of funds in Aviva, which added 70bn, taking the total funds beneath the management to more than 300bn (Rodrigues and Stevenson, 2013). It is working on the orbit of the business which has very recently fined by the city watchdog for the failure systems and control and has paid compensation to eight funds of 131m (Das, Raskhit and Debasish, 2009). Link:https://www.theguardian.com/business/2015/mar/05/aviva-and-friends-life-annual-profits-takeover-insurer-pension-annuity-sales Story 2 Bank of England has warned of enormous financial risk from the investment of fossil fuel. Bank of Englands prudential regulation authority, the deputy head said that the investments in the fossil fuels and the related technologies will take a huge hit very recently (Chortareas, Girardone and Ventouri, 2011). Insurance companies may suffer an extreme damage if the investments in the fossil fuel companies cause severe actions on the climate change. This is a case of environmental issue which could be analyzed through the framework of PESTLE. Right now it is a risk for the insurers to invest in the assets which could be trapped by the changes in policy which will limit the use of fossil fuels. The companies should try to avoid the systemic risks of the economy. With the increased limitations of the carbon emissions in the economy and the move towards the alternative sources of energy, the investment in fossil fuels is increasingly growing in the recent financial market (Raugei, Fullana-i-Palmer and Fthenakis, 2012). The Deputy Head of the banks PRA told that he has already mentioned about this but it is yet to be infused by the companies. One of the worlds key banks warning came that the majority of the fossil reserves are unburnable if the limitations to the climate change is 2C as vowed b y the worlds government. Bank will provide the report to the government on financial risk portrayed by carbon bubble. The research director at Carbon Tracker Initiative has earlier mentioned that it is good to see that the major central bank is seeing the necessity to move with the times and realize the role which deals with one major challenge which is facing the economies today. All financial institutions should respond in the same manner and try to collaborate on the issue. A sequence of analysis shows that the existing reserves of the fossil fuels cannot be burnt devoid of blowing safe budget for the emissions of carbon (Raugei, Fullana-i-Palmer and Fthenakis, 2012). Recent study in the month of January has pointed out that 80% of the coal reserves, oil and half of gas would have to remain in the ground. In the Insurance Summit 2015 in London banks executive director Paul Fisher has mentioned that the policies which are designed to put a limit the emissions of carbon are to prev ent the catastrophe change in the climate and it would mean that the fossil fuels become a stranded asset. Companies have spent 436bn in the year 2013 only for searching more fossil fuels and investments that would be worthless if the activity on the global warming allows emissions. Professor of Energy Policy in the University of Oxford, Dieter Helm has told that there is no virtual chance of binding the agreement in Paris which will lead to the two degree limit to be successful. Along with the environmental issue this is also an economical issue. Fisher also mentioned that the changes in the climate impact the insurers from both sides of the balance sheets. They may be impacted by the increase in insurance claims; it also appears that the asset side will also give rise to the unexpected risk. He mentioned that the insurance industry has started taking steps of climate curve on liability side but not doing in the role as investors of long-term. The banks approach to deal with the sy stematic economic risk would change by the analysis of carbon bubble. The fundamental changes in environment may affect the financial and economic stability and also the safety and soundness of the firms with the possible inference to the banks. https://www.theguardian.com/environment/2015/mar/03/bank-of-england-warns-of-financial-risk-from-fossil-fuel-investments Story 3 Recently IAG, British Airways parent company has been rejected by Aer Lingus for a takeover by its competitor. Aer Lingus has mentioned that IAG fundamentally undervalues the airlines. Willie Walsh, former pilot and chief executive of IAG has denied earlier on adding the Irish carrier company to bring with it the important extra take-off period at the Heathrow airport. The airlines industry has recognized target the competitors continued association with European Airlines (Barrett, 2006). Aer Lingus has mentioned that it has initially received an extremely conditional and non-binding attitude from IAG. Aer Lingus has reviewed the proposal and has found that the British Airways have basically undervalued them and the desirable prospects (Jeffers and Mignin, 2004). Here comes the uncertainty that if any offer will be at all made or not and so the shareholders are advised not to take any action. IAG issued a statement mentioning the moving price of the share of Aer Lingus and also confirmed that it has given a proposal for an offer to the company, which was rejected by the Aer Lingus board (Townsend, 2002). This competition between both this companies, to garner more passengers base and expand its reach to more places, has changed the business environment and has created an uncertainty about the takeover (Barrett, 2006). John Stickland, aviation analyst has clearly mentioned that there could be challenged and regulatory concerns from the other airlines on the grounds of competition. Aer Lingus was successful erstwhile against the tough economic climate even so a deal will give IAG a sound position in Heathrow. This cannot be merely termed as a takeover because it more of a competition in the same industry where uncertainty of takeover is been clearly seen here. Here one career group is being undervalued by the other. The competition has raised so much that Ryanair, an Irish career had also plans to buy Aer Lingus which was later thwarted. To garner more https://www.theguardian.com/business/2014/dec/18/british-airways-iag-moves-takeover-aer-lingus Conclusion Thus we see from the above mentioned articles the changes in the business environment. There were issues of takeover in the first article where Aviva has acquired Friends Life followed by Bank of England article where the issues with the environment being hampered with the investments in fossil fuel thereby affecting the economic condition of the country, the two factors of PESTLE and finally the competition of taking over Aer Lingus. The articles rightly points out the reasons why a company wants to expand or what is the impact iof an institution on the economy and the environment. It also shows the dealings of between two or more organization. References Barrett, S. (2006). Commercialising a national airlinethe Aer Lingus case study. Journal of Air Transport Management, 12(4), pp.159-167. Baye, M. (2000). Managerial economics business strategy. Boston: Irwin/McGraw-Hill. Beattie, V., Fearnley, S. and Hines, T. (2013). Perceptions of factors affecting audit quality in the post-SOX UK regulatory environment. Accounting and Business Research, 43(1), pp.56-81. Chortareas, G., Girardone, C. and Ventouri, A. (2011). Financial Frictions, Bank Efficiency and Risk: Evidence from the Eurozone. Journal of Business Finance Accounting, 38(1-2), pp.259-287. Das, B., Raskhit, D. and Debasish, S. (2009). Corporate restructuring. Mumbai: Himalaya Pub. House. Editorial Board. (2013). Journal of Economics and Business, 67, p.CO2. Eichler, S. and Maltritz, D. (2013). An options-based approach to forecast competing bids: evidence for Canadian takeover battles. Applied Economics, 45(34), pp.4805-4819. IFC. (2014). Journal of Economics and Business, 75, p.IFC. Jeffers, R. and Mignin, R. (2004). Global business workforce restructuring. London: Kluwer Law International. Raugei, M., Fullana-i-Palmer, P. and Fthenakis, V. (2012). The energy return on energy investment (EROI) of photovoltaics: Methodology and comparisons with fossil fuel life cycles. Energy Policy, 45, pp.576-582. Rodrigues, B. and Stevenson, M. (2013). Takeover prediction using forecast combinations. International Journal of Forecasting, 29(4), pp.628-641. Townsend, H. (2002). Foundations of business economics. London: Routledge.

Medicine In The Renisance Essays - Pseudoscience, Medicine, Quackery

Medicine In The Renisance In the Renaissance, some aspects of medicine and doctors were still in a Dark Age. Outbreaks of disease were common, doctors were poor, medicine was primitive and many times doctors would kill a patient with a severe treatment for a minor disease! But, there were other sections where medicine and the use of medications improved greatly. This paper is written to illustrate the light and dark sides of medicine in the Renaissance. The filth of the cities promoted the spread of disease faster than doctors could discover a cure. This encouraged large outbreaks of many deadly diseases. And it is said that throughout this period there were people who went about the cities and towns with wagons calling Bring out your dead! in a fashion similar to that of the Medieval era during the bubonic plague (Which, by the way, was not yet a dead disease). The quality of doctors during the Renaissance was a small step up from the Medieval era. There were a few medical schools that had started and doctors were beginning to have the option of a formal education. The only problem was that people didnt need a license to be a doctor. Many quacks practiced medicine. And doctors had no specialization; there were no dentists, no surgeons, and no physicians. So a doctor may have not known anything about one of those areas but still attempted to treat it. If a patient came in to a doctor complaining of pain the doctor would have no idea what that meant or why it was painful. You must remember in the Renaissance, the church ruled everything. The church thought that if someone was ailing it was because of a demon in them or God punishing them. The people of the Renaissance were also very superstitious. They believed in magic and thought that some of the herbs used in medicine had magical healing powers. There were several aspects of the Renaissance where medicine improved greatly. Doctors began to study medicine from a scientific standpoint and artists like Leonardo Da Vinci actually dissected human corpses to see what they looked like inside the body. This cleared up much of the previous misconceptions about the internal organs. The treatments in the Renaissance improved at a steady rate throughout the period. Because, during the Renaissance doctors would work on site at the battlefield and would learn from their experiences. In fact, a very famous Renaissance doctor named Ambroise Pare discovered a better treatment for a gunshot wound. Previously they had been treated with boiling elder oil turning pain to agony. But when he ran out of elder oil he made a slave of egg yolk, attar roses and turpentine. The next morning he discovered the ones treated with the elder oil were still in great pain and the ones treated with his new mixtures were greatly comforted. Many of the doctors made cures for diseases out of almost anything. One example is they thought that swallowing gold cured almost everything! Some of these treatments worked, others did not. But doctors kept experimenting. So overall there was progress made and the Renaissance made some important discoveries regarding medicine that helped launch us in to the next period of history. Medicine Essays

Writing a Thanksgiving Day Sample

Writing a Thanksgiving Day SampleIf you need help writing a Thanksgiving Day sample essay, look no further. This short sample can be used to train as well as instruct your own students and as an introduction to their Thanksgiving Day class. Writing a Thanksgiving Day sample can also be used by those that already have degrees in teaching. This can be used as an introduction to their English class or as a presentation on Thanksgiving Day to those in other programs.Thanksgiving Day is observed by more than just our country, it's observed in many other countries as well. It is observed in a couple of countries such as Canada, and the United States. The reason for this is because in the 17th century when most Europeans immigrated to America, Thanksgiving Day was introduced to them, as they were unable to celebrate their own Thanksgiving Day in their home countries. A way to show how grateful they were for America's generosity was to celebrate their 'Thanksgiving Day' in America.Thanksgivi ng is a long holiday in many cultures, celebrating the harvest in various ways. Traditionally, in Europe, meat would be given to God. Over time, however, there have been some changes made to the Thanksgiving traditions to suit modern times. The Thanksgiving Day, or 'Thanksgiving Day' is today seen as the day when the family gathers around to eat their Thanksgiving dinners. Traditionally, though, it was a day when the family would gather to say good-bye to its recently deceased loved ones.Thanksgiving Day is a day that was inspired from a dream the king of France had while he was traveling through America. In his dream, he saw a large field and all of the crops being harvested and then gathered into one big group. He spoke to God and asked if he could get them all together so that they could say good-bye to one another, and be with God. Thus, Thanksgiving Day was born. Since its birth, the idea of Thanksgiving Day has been extended across the world and it is observed across the Unite d States, as well as in several other countries, such as Canada, Mexico, Japan, Korea, and the Philippines. Thanksgiving Day as a day for the entire family to be together is still the one that is most widely followed by the American family.Thanksgiving day is also observed by many people around the world as a 'Lent'. In this case, the word 'Lent' literally means 'to give'. Today, Lent is an act of fasting and penance which began during the second century C.E. in the Roman Catholic Church. In the United States, Thanksgiving Day is recognized as a day to pray for the Christian families that are on their way to Easter Sunday at church.While there are many differences between the Thanksgiving day in Europe and the one in the United States, there are also similarities. For example, in Europe, thanks are given to God, whereas in the United States, thanks are given to our government. In addition, both Europe and the United States to observe Thanksgiving Day as a day of giving thanks to our country, which is generally made up of the American name for each of the states. Lastly, in Europe, thanks are given to God, whereas in the United States, thanks are given to our Government.Writing a Thanksgiving Day sample can be used by those already in teaching or in other programs to train as well as instruct their own students. Using this short sample essay, any student can write an essay for Thanksgiving Day!

Torres Surname Meaning and Origin - Family History

Torres Surname Meaning and Origin - Family History Torres  is a surname often  given to a person who lived in or near a tower, from the Latin turris, meaning tower. It was also bestowed as a habitational name from any of the many places named Torres. Torres is the 50th most popular surname in the United States and the 11th most popular Spanish surname. Surname Origin:  Spanish, Portuguese, Italian, Jewish Alternate Surname Spellings:  TORREZ, TORES, TOREZ Famous People with the Surname TORRES Dara Torres - American Olympic swimmerJuan Josà © Torres - Bolivian general and presidentToms de Torres  - Portuguese astrologerLuis Vez de Torres  - 17th-century explorer Where Do People With the Surname Torres Live? Torres is the 150th most common surname in the world, according to surname distribution data from  Forebears, found in greatest numbers  in Mexico and with the highest density in Puerto Rico, where it is the 3rd most common surname. Torres is also very common in Ecuador (6th), Peru (8th), Mexico (12th), Colombia (12th), Cuba (13th), and Andorra, Venezuela, and Argentina (each 15th). Within Europe, Torres is most frequently found in Spain, according to  WorldNames PublicProfiler, especially in the Balearic Islands, followed by the other regions of southern Spain. Genealogy Resources for the Surname Torres 100 Common Hispanic Surnames Their MeaningsGarcia, Martinez, Rodriguez, Lopez, Hernandez... Are you one of the millions of people sporting one of these top 100 common Hispanic last names? How to Research Hispanic HeritageLearn how to get started researching  your Hispanic ancestors, including the basics of family tree research and country-specific organizations, genealogical records, and resources for Spain, Latin America, Mexico, Brazil, the Caribbean, and other Spanish speaking countries. Torres Family Crest - Its Not What You ThinkContrary to what you may hear, there is no such thing as a Torres family crest or coat of arms for the Torres surname.  Coats of arms are granted to individuals, not families, and may rightfully be used only by the uninterrupted male-line descendants of the person to whom the coat of arms was originally granted.   Torres Family Genealogy ForumSearch this popular genealogy forum for the Torres surname to find others who might be researching your ancestors, or post your own Torres query. FamilySearch - TORRES GenealogyAccess over 5.5 million free historical records and lineage-linked family trees posted for the Torres surname and its variations on this free genealogy website hosted by the Church of Jesus Christ of Latter-day Saints. GeneaNet - Torres RecordsGeneaNet includes archival records, family trees, and other resources for individuals with the Torres surname, with a concentration on records and families from France, Spain, and other European countries. DistantCousin.com - TORRES Genealogy Family HistoryExplore free databases and genealogy links for the last name Torres.- References: Surname Meanings Origins: Cottle, Basil.  Penguin Dictionary of Surnames. Baltimore, MD: Penguin Books, 1967.Dorward, David.  Scottish Surnames. Collins Celtic (Pocket edition), 1998.Fucilla, Joseph.  Our Italian Surnames. Genealogical Publishing Company, 2003.Hanks, Patrick and Flavia Hodges.  A Dictionary of Surnames. Oxford University Press, 1989.Hanks, Patrick.  Dictionary of American Family Names. Oxford University Press, 2003.Reaney, P.H.  A Dictionary of English Surnames. Oxford University Press, 1997.ï » ¿Smith, Elsdon C.  American Surnames. Genealogical Publishing Company, 1997.

How to Earn an Online MBA Degree

How to Earn an Online MBA Degree Online MBA programs are a popular choice by older adults and mid-career professionals who want to earn a degree without sacrificing their career and family life. Online ​MBA programs are also becoming a fast favorite of the younger crowd, who are looking for ways to earn a graduate degree while keeping their current employment. Many find that online MBA courses offer a flexibility that cant be found in traditional schools. If youre considering earning an online MBA, make sure you do your homework. Knowing the basics will help you make an informed decision about whether or not these programs are right for you. How Online MBA Programs Are Different From Traditional MBA Programs Distance learning and traditional MBA programs generally share a similar type of curriculum and can be considered equally difficult (depending, of course, on the particular school). Instead of spending hours in class, online MBA students are expected to dedicate their time to studying independently. Online curriculum generally consists of lectures, readings, assignments, and participation in online discussions. Some programs also offer multimedia components such as video lectures, podcasting, and video conferencing. Online MBA students from some programs are expected to physically attend a certain number of courses or workshops in order to acquire residency hours. Required tests can usually be taken with proctors in your own community. Online MBA students don’t spend less time studying than their traditional student counterparts. But, they are given the power to fit their school hours into their own schedules. Determining if an MBA Program Is Respectable This question deserves a qualified â€Å"yes.† There are two main factors in determining a business school’s respectability: accreditation and reputation. Online MBA programs that are accredited by the proper agencies should be respected by your future employers and colleagues. However, there are many unaccredited or â€Å"diploma mill† programs that give out worthless degrees. Avoid them at all costs. A school with a good reputation can also add respectability to an online MBA degree. Much like law schools, business schools receive rankings from organizations such as Business Week that can affect future employment. Online students may not be offered the same high-paying, big corporation jobs that graduates from top-ranked schools such as Wharton are. However, there are plenty of companies willing to hire MBA grads with degrees from other institutions. Reasons People Earn Their MBAOnline Online MBA students come from all walks of life. Many distance learning students are mid-career when they decide to get another degree. Older professionals with jobs and family responsibilities often find the flexibility of online programs to be a good fit. Some online students are looking for a career change but still want to maintain their current job until they get their MBA. Others are already working in business and earn their degree in order to be eligible for job promotions. How Long Do Online MBAs Take to Complete The time it takes to finish an online MBA degree varies according to the school and the specialization. Some intensive MBA programs can be finished in as few as nine months. Other programs can take up to four years. Adding specializations to a degree can take even longer. Some schools allow students greater flexibility to work at their own pace while others require that students adhere to more demanding deadlines. Cost of Earning an Online Degree One online MBA degree can​ be had for $10,000, another for $100,000. The cost of tuition varies substantially from college to college. Pricey doesn’t necessarily mean better (although some of the more expensive schools have some of the best reputations). Your employer may be willing to pay for part or all of your educational expenses, particularly if he or she thinks you’ll be sticking with the company. You may also be awarded grants, receive institutional or private scholarships, or qualify for financial aid. Advantages in Having an MBA Many online MBA graduates have used their new degrees to excel at the workplace, gain promotions, and achieve career success. Others have found that their time could have been better spent elsewhere. Those who find their degrees to be â€Å"worth it† share several traits in common: they knew they wanted to work in the business field beforehand, they chose a school with proper accreditation and a positive reputation, and their specialization was appropriate for the type of work they wanted to do. Enrolling in an online MBA program is not a decision to take lightly. Accredited programs require hard work, time, and effort. But, for the right person, an online MBA can be a great way to get a jumpstart in the world of business.

Choose the topics relevant to second term lecture material and Essay

Choose the topics relevant to second term lecture material and research the topic in more depth - Essay Example (Steger, 2003: p. 37) With regards to the large supply of available work force in the labor market, medium- and large-scale businesses are taking advantage of hiring competitive employees. Likewise, it is also crucial for businesses today to actively participate in the trading of goods and services in the world market. As part of discussing the valid reasons that makes it important for modern managers today to have a good understanding of the process of globalization, a literature review will be conducted in the study. To give the readers a better understanding of the subject matter, the first part of the literature review will discuss about the general information and the main purpose of globalization followed by analyzing the factors that makes it important for modern managers to have a good understanding of the globalization process. Prior to conclusion, reasons behind the need to implement and promote cultural diversity within the work environment will be tackled in details. Globalization is â€Å"a process of interaction and integration among people, companies, and governments of different countries which is driven by international trade and investment through the use of information technology.† (The Levin Institute, 2008) Basically, the concept of globalization allows business people to maximize their available financial resources by taking advantage of the low-cost products and services that are readily available from developing countries. Because of the differences in monetary exchange rate, large-scale businesses from developed countries are able to purchase more homogenous products and highly competitive human resources at a much lesser price. Therefore, large multinational companies could easily compete with small-scale local businesses by being able to offer homogenous products to its target consumers

How to prevent an overmedicated society Essay Example | Topics and Well Written Essays - 500 words

How to prevent an overmedicated society - Essay Example A number of solutions are available for preventing overmedication. A more effective way for preventing overmedication is through treating bodies well before a person gets sick to prevent sicknesses from creeping in. Individuals need to east healthy and balanced diet, exercise well and regularly, drink plenty water, avoid the intake of toxins like alcohol and smoking and get enough sleep. All of these activities contribute to a healthy immune system thereby truly keeping a person’s body healthy and free from sicknesses (Reger-Nash, 6). Individuals need to be more aware of their health, question what is really in food and become very fit so as to avoid developing conditions like obesity. The second effective solution is taking care of the environment. We need to care for the environment for it always takes better care of us. Individuals need to be skeptical about certain prescribed medications. We need to see prescription as last resort and not as the first suggestion for any condition. For instance, in the case of depression, we need to first explore other forms of treatment like exercise and counseling and only seek prescription only after such ways have been attempted and found to be unsuccessful. Therapy for depression should be made common to prevent overmedication (Reger-Nash, 6). In addition, individuals need to understand the problem as well as the solution to avoid medication. Most importantly individuals need to know their bodies and understand what works for them individually. Even though sometimes people want to do something for them to appear to be in control of the situation, the best method of preventing overmedication is to wait and ride the condition out (Reger-Nash, 6). The immune system often beats the cold virus if given a chance. The high blood system could be managed by simply reducing the salt intake instead of taking medication every morning. Since we are living