Ancient Greek Influences Essay - 886 Words

Historians have long considered Ancient Greece to be one of the most influential societies on modern day life. Ancient Greece has inspired the modern world in five main areas: theatre, government, philosophy, art, and architecture. Theatre flourished in Greece, particularly in Athens, between c. 550 BC and c. 220 BC. During its beginnings theatrical performances were part of Dionysia, a festival held in honour of the god Dionysus. The plot of the plays was always inspired by Greek mythology, a theme that is still common today. Many modern plays and movies have been directly based on or incorporated elements of Greek mythology or simply mythology in general. Every play had a chorus, though the size and importance of it varied. The†¦show more content†¦Love also became a principle element of Greek theatre during this time. Greek comedy inspired much of modern romantic, generational, and situational comedy. Satyr plays blended elements of tragedy and comedy, and featured mock drunkenness, sexual props and costumes, as well as pranks and gags. Influence of the satyr plays can be seen in genre of burlesque, which involved elaborate, risquà © parodies of well-known operas, plays, and ballets. Modern comedi es, which typically involve practical jokes, sexual humour, and drunkenness, are inspired by satyr plays as well. Ancient Greece was one of the first democratic societies and has greatly influenced modern day governments. Although the Greek idea of democracy is different from what is practiced today, their ideas formed the basis for modern democratic governments. Prior the invention of democracy, citizens had no rights and there were no guidelines for who was considered a citizen. Democracy gave voting rights and the ability to hold office to citizens – free men born in Greece, usually landowners. Today’s modern democracy is accessible to all people and has a higher degree of organization and hierarchy, it still derives its basic prinicples from Greek democracy. The origins are Western philosophy and sciences are found in Ancient Greece, beginning with the pre-Socratic philosophers. These philosophers began to examine the world in a way that no one else had before; they wanted toShow MoreRelatedAncient Greek Influence On The Modern World1442 Words   |  6 Pages Ancient Greek Influence on the Modern World Knowledge of ancient Greeks is still influencing the modern world through their advancement and development of government, military, sciences, mathematics, art, and architecture. Centered around perfection of the mind and body, ancient Greek society can be seen through these various areas of their society. The ancient Greek society began with having monarchies and oligarchies, but in 510 AD Athens would create the first democracy (Carr). Athens was ruledRead MoreThe Influence of Ancient Greek Mythology on Modern Society Essay1055 Words   |  5 PagesAncient Greek society fell over 2000 years ago but despite this, its mythology still continues to influence our western society. References to Greek mythology can be found all through time and in our western culture. The influence of Greek mythology can be found in our science, arts and literature and our language. When Ancient Greece fell to the Roman Empire, Rome adapted its mythologies which still influence us today as they have through history. That is not to say that Greek mythology wasn’t influencedRead MoreHow The Ancient Greeks And Romans Still Influence Our Modern World869 Words   |  4 Pagesimportant for students to understand how the ancient Greeks and Romans still influence our modern world. Ancient Greece was the bi rthplace modern mathematics, science, philosophy, architecture, literature, theater, art, architecture, Democracy, Law, and competitive sports. The term mathematics was invented by Pythagoras. It means that which is learned. In turn, mathematical theories were applied to building the great architecture of Greece. The great Greek temples are visual representations of theRead MoreAncient Greece s Influence On The Life Of The Greek Peoples1898 Words   |  8 Pagesthe poor, sick, and elderly. Hospitals have changed and evolved over time to the sometimes massive centers for healing that we have now. Ancient Greece As far back as 1200 B.C., in Ancient Greece, medicine played a very important role in the lives of the Greek peoples. As all other areas in their lives were expanding, so did their medical knowledge. Ancient Greece was steeped in mythology, such that, no matter what went on in the world around them, it was explained as having something to do withRead MoreEssay on The Human Body in Ancient Greek Sculptures1015 Words   |  5 PagesThe Human Body in Ancient Greek Sculptures The primary focus of ancient Greek sculptures was that of the human body. Almost all Greek sculptures are of nude subjects. As the first society to focus on nude subjects, Greek sculptors attempted to depict man in what they believed was the image of the gods and so would come to celebrate the body by striving for verisimilitude or true – likeness (realism and naturalism!).(Riffert) Not only did the Greeks celebrate the human form in their art but alsoRead MoreThe Importance Of Soil And Evaluation Of Taxonomic Evidence748 Words   |  3 Pagesmisogynistic evidence from ancient Greek literature. Consumption Meanwhile, assiduous ‘ethnography (Harrison et al., 2014, p.14)’ provides evidence of the consumption habits of Ancient Greeks. High end pottery, designed to promote the owners status, included the addition of precious metals. Society’s elite paradigm of leisure included boisterous ‘drinking games (Hughes et al., 2014, p.92)’. This Stamnos functioned as a vessel for mixing wine enjoyed by heavy drinking Greeks who seldom enjoyed theirRead MoreAnalysis Of Neil Fraser s The Golden Age 1893 Words   |  8 PagesTheatre History Explained Neil Fraser outlines the history of theatre from Greek and Roman times, all the way through the twentieth century. Fraser makes a claim that theatre truly began in Greek culture with even the Roma’s looking upon that time as â€Å"the golden age†. â€Å"The Romans looked back on Greek theatre of circa 600BC as a golden age, and we can still make a case for the great plays of that period as having never been bettered.† (Fraser, 2004, pg.5). Some of the more important highlights ofRead MorePlato, The, And The Myth Of Er1757 Words   |  8 PagesIn 399 BCE, nineteen years before Plato transcribed Republic, classical Greek philosopher Socrates was formally put on trial and executed on the citation of two â€Å"impious† acts: having â€Å"failed to acknowledge the gods that the city acknowledges† and â€Å"introducing new deities.† These two recognized accusations, and the punishment that Socrates paid for them through a poisonous hemlock-based liquid, was witnessed by his student, Plato. Plato was inspired to later write Socratic works and dialogues dedicatedRead More Water and Womanhood in Ancient Greece Essay2210 Words   |  9 PagesIn the times of ancient Greece, there were ample tales, myths, and legends surrounding the realm of the sea; many of which included fearsome beasts, epic struggles, and angered gods. There are tales of vengeance, spite, cruelty, and rage, but there are also those of understanding, compassion, helpfulness, and benevolence. When one subjects many of the more malevolent (and sometimes disturbing) tales to closer inspection, it becomes fairly evident that a great number of these stories use a feminineRead MoreAnalysis Of The Movie Kabuki 3062 Words   |  13 Pagesentertainment, and included stylized fighting, aerial stunts, exaggerated makeup and costuming, and physical and verbal comedy. 2. Nixon in China - Nixon in China is an American opera portraying President Nixon’s historic visit to China. The opera pulls influences from the highly stylized Beijing opera performance style, and portrays the clash of Asian and Western cultures that was manifested in the US’ tense relationship with China prior to Nixon’s visit. 3. Center Stage Left - In traditional western theater

Virginia Tech Acceptance Rate, SAT/ACT Scores, GPA

Virginia Polytechnic Institute and State University, known as Virginia Tech, is a public research university with an acceptance rate of 62%. On VTs main campus in Blacksburg, Virginia, the university offers 110 bachelor degree programs. Popular majors include engineering, business, and biology. Considering applying to Virginia Tech? Here are the admissions statistics you should know, including average SAT/ACT scores and GPAs of admitted students. Why Virginia Tech? Location: Blacksburg, VirginiaCampus Features: Located on a 2,600-acre main campus, Virginia Tech is well known for its gray limestone buildings. The university is home to a corps of cadets, and the large oval Drillfield occupies the center of the campus.Student/Faculty Ratio: 16:1Athletics: The Virginia Tech Hokies compete in the NCAA Division I Atlantic Coast Conference.Highlights: Virginia Tech typically ranks among the top 10 public engineering schools in the country. Business and architecture are both strong, and with a chapter of Phi Beta Kappa, the school also has strengths in the liberal arts and sciences. Acceptance Rate During the 2017-18 admissions cycle, Virginia Tech had an acceptance rate of 62%. This means that for every 100 students who applied, 62 students were admitted, making Virginia Techs admissions process somewhat competitive. Admissions Statistics (2017-18) Number of Applicants 32,103 Percent Admitted 62% Percent Admitted Who Enrolled (Yield) 32% SAT Scores and Requirements Virginia Tech requires that all applicants submit either SAT or ACT scores. During the 2017-18 admissions cycle, 87% of admitted students submitted SAT scores. SAT Range (Admitted Students) Section 25th Percentile 75th Percentile ERW 590 680 Math 590 710 ERW=Evidence-Based Reading and Writing This admissions data tells us that most of Virginia Techs admitted students fall within the top 35% nationally on the SAT. For the evidence-based reading and writing section, 50% of students admitted to Virginia Tech scored between 590 and 680, while 25% scored below 590 and 25% scored above 680. On the math section, 50% of admitted students scored between 590 and 710, while 25% scored below 590 and 25% scored above 710. Applicants with a composite SAT score of 1390 or higher will have particularly competitive chances at Virginia Tech. Requirements Virginia Tech does not require the SAT writing section. Note that VT participates in the scorechoice program, which means that the admissions office will consider your highest score from each individual section across all SAT test dates. At Virginia Tech, SAT Subject test scores are not required. ACT Scores and Requirements Virginia Tech requires that all applicants submit either SAT or ACT scores. During the 2016-17 admissions cycle, 45% of admitted students submitted ACT scores. ACT Range (Admitted Students) Section 25th Percentile 75th Percentile English 24 31 Math 25 30 Composite 25 30 This admissions data tells us that most of Virginia Techs admitted students fall within the top 22% nationally on the ACT. The middle 50% of students admitted to Virginia Tech received a composite ACT score between 25 and 30, while 25% scored above 30 and 25% scored below 25. Requirements Virginia Tech does not require the ACT writing section. Unlike many universities, VT superscores ACT results; your highest subscores from multiple ACT sittings will be considered. GPA In 2018, the middle 50% of Virginia Techs incoming class had high school GPAs between 3.86 and 4.26. 25% had a GPA above 4.26 and 25% had a GPA below 3.86. These results suggest that most successful applicants to Virginia Tech have primarily A and B grades. Self-Reported GPA/SAT/ACT Graph Virginia Tech Applicants Self-Reported GPA/SAT/ACT Graph.   Data courtesy of Cappex. The admissions data in the graph is self-reported by applicants to Virginia Tech. GPAs are unweighted. Find out how you compare to accepted students, see the real-time graph, and calculate your chances of getting in with a free Cappex account. Admissions Chances Virginia Tech, which accepts fewer than two-thirds of applicants, has a somewhat selective admissions process. If your SAT/ACT scores and GPA fall within the schools average ranges, you have a strong chance of being accepted. Keep in mind that Virginia Tech has a  holistic admissions  process involving other factors beyond your grades and test scores. A  strong application essay  and  glowing letters of recommendation  can strengthen your application, as can participation in  meaningful extracurricular activities  and a  rigorous course schedule. The university looks for applicants with a minimum of four years of English, three years math, two years of laboratory science, two years of social studies, and three years of additional academic subjects (foreign language is recommended). Applicants should note that there may be additional admissions requirements for specific majors. Your application can be strengthened by thoughtful, well-written responses to the universitys four Ut Prosim Profile short answer questions. Be sure to use these essays to reveal the strengths that youll bring to the campus community. Virginia Tech also considers factors such as ethnicity, first-generation status, leadership and service, and legacy status in the application review process. All admissions data has been sourced from the National Center for Education Statistics and Virginia Tech Undergraduate Admissions Office.

Gender and Women - 1261 Words

Most high level jobs are done by men. Should the government encourage a certain percentage of these jobs to be reserved by women? Most people believe that there should be a balance between men and women in job market in all levels, I would discuss pros and cons of assigning quotation to women in higher level of job market Firstly, although, there are many talented women that qualify for promotion, women face glass ceilings that stop them from climbing corporate ladders. Furthermore most of men have traditional perspectives and do not cooperate with female bosses. Reserving a quota for women can remove the obstacles and provides opportunities for managerial level. Thirdly, having more women in higher positions could be beneficial to†¦show more content†¦On the one hand, this will encourage women to strive for higher level of skills and knowledge. On the other hand, this will help ensure the gender equality in both work and daily life. In the past, when only the husband worked, he was believed to be the head of the family and have the right to determine everything. This situation will be over if more and more women are appointed to high-ranking jobs. Lastly, our society will be better. With their talents, women bring about big profits to their companies, thus contribute much to their countries’ development. Obviously, our modern world is progressing faster thanks to women’s increasing contribution. Moreover, gender equality does not only benefit women but enhance the civilization as well. Therefore, a proper percentage of high-level jobs for female labor are essential to a developed society. All in a word, women’s ability and progress, and society’s development make it worth reserving a certain proportion of high-level jobs for women. That said women should do their best to prove themselves as well as devote to their society. As a result of the male chauvinism, which HAS existed for quite a long time, there is an unequal ratio between male and female labor. Many high level jobs are performed ONLY by men. However, due to their ability and progress, and society’s development, it is strongly believed that women should be ALLOTED a certain percentage of these jobs by theShow MoreRelatedGender History : Women And Women1602 Words   |  7 PagesGender history focuses on the fundamental idea of what it means to be defined as a man or woman in history. Gender historians are concerned with the different changes that occur within a society, during a particular period of time in regards to the perceived differences between women and men. Also, they are concerned with the impact of gender on various historically important events. Gender history developed because traditional historiography excluded women from ‘universal’ and ‘general’ historyRead MoreGender Roles Of Women And Women15 24 Words   |  7 PagesGender refers to the masculine and feminine attributes assigned to either sex. Culture and biology determine the moral, intellectual, and emotional differences between males and females. Biology partially determines gender constructions of men and women. A woman’s ability to conceive or a man’s natural strength are all examples of biological gender. However, I believe a larger proportion of personal gender is formulated through cultural believes and values. Cultures create gender through social practicesRead MoreGender Equality : Women And Women1570 Words   |  7 PagesGender Equality Throughout history, gender equality has been a recurring issue. In different cultures across the world there has been an imbalance between the roles of men and women in society. Women, in particular, have had a difficult time being treated with the same respect and privileges as men. In society today gender equality as become less of an issue because women have fought hard to be where they are today. Starting from early civilization, men have held the power within government and societyRead MoreGender Differences, Gender, And Women885 Words   |  4 PagesThemes, surround men in the 1900s when they did not respect women out of there wifely duties. In the 1900s women generally had fewer legal rights and career opportunities than men. Wifehood and motherhood were regarded as female’s professions. â€Å"A man in the 19th century owned his wife and children as he did his material possessions.†(Susan gazelles). Most middle and upper class women had servants to do some or al l of the housework. Some women were involved in, teaching in schools for poor children,Read MoreGender Inequality : Women And Women1103 Words   |  5 Pagesthe main problem in the athlete world is gender inequality, women are not shown equal as men. They are discriminated in many ways such as pay, employment opportunities, value of women s sport, media coverage etc. Despite the federal law passed called Title IX that â€Å"No person in the United States shall, on the basis of sex, be excluded from participation in, be denied the benefits of, or be subjected to discrimination. there is still gender inequality women are considered less than men. No matterRead MoreGender Roles Of Women And Women1630 Words   |  7 Pagesallow freedom for women, freedom for men, freedom from those sharply defined gender roles â€Å" (Fred Ward). I agree with this quote because in today’s society gender defines the roles of what a male and a female can do. What is gender? Gender, according to the Merriam Webster dictionary, is the state of being male or female (typically used with reference to social and cultural differences rather than biological ones). The term gender is only used when we describe how men and women are different in aRead MoreGender Roles Of Women And Women1535 Words   |  7 PagesEveryday you hear women and men being compared in life. A majority of the time it is in a form of men being more superior than women rather it s stereotypes, appearances, or money; Men usually end up more dominant. Society tends to assume that men are more capable than women in all aspects throughout life. These postulations have commenced before we were even born. Men are expected to constantly be working and providing the home for the women and children; Women are assumed to be cleaning, cookingRead MoreGender Roles Of Women And Women1677 Words   |  7 PagesGender is one of the greatest factors that can determine how we define ourselves and others. Although gender is d etermined at birth for many, it does not influence one s identity of self until a later age. How society views the roles of each gender influences how a person views themselves. As the views changes, so does one’s identity. In the past, the roles of men and women were defined and separated. Men were expected to provide income for the family, while women were expected to take care of theRead MoreGender Roles Of Women And Women1662 Words   |  7 Pages Gender Roles â€Å"Gender is the costume, a mask, a straightjacket in which men and women dance their unequal dance† (Kearl). Throughout history, women have been treated with unequal and unjust standards in comparison to their male counterparts. This paper will discuss gender roles in society and the stereotypes placed on men and women. As well as gender role development and the different influences that lead to these roles and stereotypes. Also, it will outline the history and progress of women’sRead MoreGender Roles Of Women And Women1536 Words   |  7 PagesMen and women have very different expectations and roles in the work force. In the past almost all corporations have discriminated against gender, especially women. Whether it is women not being allowed certain positions and/or promotions at a job, or women not being allowed into the field of work that they desire at all. Women have also been discriminated by being payed lower wage and made to work longer hours in unsafe and unhealthy work environments. Gender roles set expectations that are extremely

Finding Nemo Psychological Profiles of Its Characters Essay

We all know the popular family movie â€Å"Finding Nemo† a kid’s movie that tells a journey of Marlin, a father clown fish, who crosses the vast ocean to find his son Nemo. During Marlin’s journey he comes across many new and scary things, but like any good children’s movie Marlin does eventually find his son Nemo and they go back home and live happily ever after. This all sounds good right? Wrong! Looking at this movie from a psychologist point of view, or in my case a psychology students’ point of view you slowly begin to realize from the moment the movie starts each and every one of the characters in this lovely kids movie is kind of messed up in their own special way. The first character that I would like to talk about is Marlin. Marlin†¦show more content†¦It is noticeable in a couple scenes from the movie. The first is on Nemo’s first day of school after Nemo and Marlin are all ready to leave Marlin makes Nemo exit , enter the n re-exit the sea anemone three times before Marlin deems it suitable for them to leave. Marlin even goes as far as saying they could do it a fourth time if they wanted to. Marlin believes that if he and Nemo do not do this every time they leave their house they could get seriously injured from someone who is waiting outside for both clown fish to leave. Not only does Marlin have OCD but I believe he also suffers from Post-Traumatic Stress Disorder (PTSD) (pg. 639-641). PTSD is a mental disorder in which an individual suffers from extreme anxiety due to constant reminders of a traumatic past event in their present, everyday life. An example of this would be a soldier. Soldiers go overseas and fight. While over there they see many horrible things. One example is the bombs that armies use. A soldier could be in a situation overseas where he/she is constantly around the loud noises of bomb explosions. Now, when they return home, they are not around these bombs any more but things are continuously reminding them of those events. Slamming a book shut, dropping a plate while you are putting away dishes, dogs barking in your neighborhood, or even cars honking are all examples of daily activities that could remind a soldier whoShow MoreRelatedProject Mgmt296381 Words   |  1186 Pagesactivities to accomplish specific organizational objectives. But project management is more than just a set of tools; it is a results-oriented management style that places a premium on building collaborative relationships among a diverse cast of characters. Exciting opportunities await people skilled in project management. The project approach has long been the style of doing business in the construction industry, U.S. Department of Defense contracts, and Hollywood as well as big consulting firms

The Strange Case Of Dr. Jekyll And Mr. Hyde And Heart Of...

Jasmine Ngo Period 4 AP English IV Thesis: In The Strange Case of Dr. Jekyll and Mr. Hyde and Heart of Darkness both Kurtz and Dr. Jekyll demonstrate the ambition for a higher calling from society by crossing the boundary of limitations to exercise the impulses that society restricts. Both Kurtz and Dr. Jekyll reject the rules of society to pursue a life of savagery. In The Strange Case of Dr. Jekyll and Mr. Hyde, Dr. Jekyll desires to relive his past events that are considered unfit of society, creating Mr. Hyde to do so without getting caught and losing his high reputation. Dr. Jekyll allows his evil side develop as â€Å"his temptation of a discovery so singular and profound, at last overcame the suggestions of alarm† (44). Dr. Jekyll lets his curiosity take over his moral judgments by creating a potion that allows him to switch bodies from himself to Mr. Hyde. The emphasis on his temptations being his only and most important ambition gives him reason to create another persona to satisfy his desires. Consequently though, Jekyll acknowledges that â€Å"a current of disordered sensual images running like a mill-race in my fancy, a solution of the bonds of obligation, an unknown but not an innocent freedom of the soul† will be the cost of breaking the rules of society (44). His decision alludes to chaos through the imagery of disorder when being free from responsibilities, but he sees the disorder as something positive and enjoyable. For him, it may be a way to get out of hisShow MoreRelatedStevenson and Conrad: The Duality of Human Nature 680 Words   |  3 Pagesdevice of personification is found in both The Strange Case of Dr. Jekyll and Mr. Hyde and Heart of Darkness. This literary device is shown to further demonstrate the theme, the duality in human nature. Personification is defined as the ascription of a personal nature or human characteristics to something nonhuman, or the representation of a theoretical quality in human form. Stevenson uses personification to figuratively make London come alive. Mr. Utterson comments on the scenery by saying: â€Å"theRead MoreStevenson and Conrad: The Duality of Human Nature 949 Words   |  4 Pagesalso employs the literary device of symbolism to further display the theme, the duality of human nature in his novella Heart of Darkness. Three major examples of symbolism a re evident in this novella. These examples include, light and dark, the Congo River, and ivory. Similar to Stevenson, Conrad uses light and dark symbolism throughout his novella. Yet curiously in Heart of Darkness, light does not symbolize genuine goodness nor does dark symbolize pure calamity. Marlow proves this when he says asRead More Stevenson and Conrad: The Duality of Human Nature 1793 Words   |  8 Pagesnature has been found at the heart of many Victorian works. The theme of the duality of man can be found in the works of two famous English authors, Robert Louis Stevenson and Joseph Conrad. Stevenson and Conrad both incorporate the theme of the duality of human nature within their own novellas. Stevenson employs this theme throughout his novella The Strange Case of Dr. Jekyll and Mr. Hyde and similarly Conrad employs this theme throughout his novella Heart of Darkness. In both novellas the themeRead MoreStevenson and Conrad: The Duality of Human Nature 778 Words   |  3 Pagesnature has been found at the heart of many Victorian works. The theme of the duality of man can be found in the works of two famous English authors, Robert Louis Stevenson and Joseph Conrad. Stevenson and Conrad both incorporate the theme of the duality of human nature within their own novellas. Stevenson employs this theme throughout his novella The Strange Case of Dr. Jekyll and Mr. Hyde and similarly Conrad employs this theme throughout his novella Heart of Darkness. In both novellas the themeRead MoreGrant Handley. Rattan. English 2331.03. 4 April 2017. A1212 Words   |  5 PagesThe cover of night and a mask of flesh creates a completely enigmatic identity. Dr Jekyll stumbles upon this opportunity in The Strange Case of Dr. Jekyll and Mr. Hyde. In this novela, Robert Louis Stevenson uses themes of freedom, symbolism, and the struggle between good and evil, to show that suppressing true feelings leads to an escalation of turmoil.   Ã‚  Ã‚   Stevenson shows a man’s own mind can wrest his freedom. Jekyll s inner desires grow so strong they torture him. He concerns himself with nothingRead MoreThe Strange Case Of Dr. Jekyll And Hyde1436 Words   |  6 Pagescaught in a conflict with their doubles. Such collisions call a character’s sense of identity into question. Robert Louis Stevenson takes this idea of doubles to a whole new level in his novel The Strange Case of Dr. Jekyll and Hyde. Upon closer examination of Stevenson’s The Strange Case of Dr. Jekyll and Hyde and his reoccurring theme of duality, we see that however constrained a society is, a person must break free, be multifarious, exploratory, and irresolute. A person must be able to see the â€Å"damageRead MoreRomeo And Juliet Duality Essay1408 Words   |  6 Pagesduality is anything that has two sides, mostly dealing with good and evil. Duality plays an important role in showing who the characters are and how the story occur s in many different books. Books in which duality plays a prominent role include Dr. Jekyll and Mrs.Hyde, Romeo and Juliet, and the Bible. Duality exists throughout the play Romeo and Juliet. The things characters say, the characters, and actions of the characters are ways duality exists in the play. For example, when Friar LaurenceRead MoreDr. Jekyll and Mr. Hydes, The Horror Genre Essay1742 Words   |  7 PagesHow successfully does Dr Jekyll and Mr Hyde’ use the conventions of horror genre? Author Robert Louis Stevenson wrote the novel ‘Dr Jekyll and Mr Hyde’ in 1885. It is said that the idea for the novel came to Stevenson in a dream that he had, he then wrote the book within six days. Stevenson was frequently ill throughout his childhood meaning he spent a lot of time in bed reading stories this is where his extraordinary imagination came from. He was also fascinated by the story of Deacon Read MoreThe Strange Case Of Dr. Jekyll And Mr. Hyde1496 Words   |  6 Pages The Strange Case of Dr. Jekyll and Mr. Hyde – or simply known as Jekyll Hyde – by Robert Louis Stevenson is novella that was originally published in 1886. The story covered the investigation conducted by a lawyer named Gabriel John Utterson into the strange events happening between a friend, the titular character, Doctor Henry Jekyll and his evil counterpart – Edward Hyde. The ensuing and peculiar events embellish on the simple duality of humanity. This duality, as O’Keeffe mentions, has becomeRead MoreDr Jekyll And Mr Hyde Analysis781 Words   |  4 Pagesstray from the path. The novella Strange Case of Dr. Jekyll and Mr. Hyde by Robert Louis Stevenson focuses on the duality of man’s inner nature, demonstrating the development of a doctor’s evil as it slowly consumes him. Throughout the work, Stevenson merges his philosophy of human nature with the good-natured Dr. Jekyll and the mysterious evil, Mr. Hyde. As the plot thickens, Stevenson uses illustrious diction to clarify the positives of Jekyll, the negative aura of Hyde, and he displays his belief that

Illustrative Transactions and Financial Statements Answers free essay sample

Identify potential problems with regression data. 7. Evaluate the advantages and disadvantages of alternative cost estimates. 8. (Appendix A) Use Microsoft Excel to perform a regression analysis. 9. (Appendix B) Understand the mathematical relationship describing the learning phenomenon. Why Estimate Costs? Managers make decisions and need to compare costs and benefits among alternative actions. Good decision requires good information about costs, the better these estimates, the better the decision managers will make (Lanen, 2008).. Key Question What adds value to the firm? Good decisions. You saw in Chapters 3 and 4 that good decisions require good information about costs. Cost estimates are important elements in helping managers make decisions that add value to the company (Lanen, 2008). Learning Objective One: Understand the reasons for estimating fixed and variable costs The reasons for estimating fixed and variable costs The basic idea in cost estimation is to estimate the relation between costs and the variables affecting costs, the cost drivers. We focus on the relation between costs and one important variable that affect them: activity (Lanen, 2008). Basic Cost Behavior Patterns By now you understand the importance of cost behavior. Cost behavior is the key distinction for decision making. Costs behave as either fixed or variable (Lanen, 2008). Fixed costs are fixed in total, variable costs vary in total. On a per-unit basis, fixed costs vary inversely with activity and variable costs stay the same. Are you getting the idea? Cost behavior is critical for decision making. The formula that we use to estimate costs is similar cost equation: Total costs = fixed costs + {variable cost per unit} number of units T c = f + {v} x |With a change in Activity |In Total |Per Unit | |Fixed Cost |Fixed |Vary | |Variable |Vary |Fixed | What Methods are used to Estimate Cost Behavior? Three general methods used to estimate the relationship between cost behavior and activity levels that are commonly used in practice: Engineering estimates, Account analysis Statistical methods (Such as regression analysis) (Lanen, 2008). Results are likely to differ from method to method. Consequently, it’s a good idea to use more than one method so that results can be compared. These methods, therefore, should be seen as ways to help management arrive at the best estimates possible. Their weakness and strengths require attention. Learning Objective Two: Estimate costs using engineering estimates. Engineering Estimates Cost estimates are based on measuring and then pricing the work involved in a task. This method based on detailed plans and is frequently used for large projects or new products. This method often omits inefficiencies, such as downtime for unscheduled maintenance, absenteeism and other miscellaneous random events that affect the entire firm (Lanen, 2008). Identify the activities involved Labor |Rent |Insurance |Time |Cost | Advantages of engineering estimates |Details each step required to perform an operation |Permits comparison of other centers with similar operations | |Identifies strengths and weaknesses. | | Disadvantages of engineering estimates 1. Can be quite expensive to use. Learning Objective Three: Estimate costs using account analysis. Account Analysis Estimating costs using account analysis involves a review of each account making up the total costs being analyzed and identifying each cost as either fixed or variable, depending on the relation between the cost and some activity. Account analysis relies heavily on personal judgment. This method is often based on last period’s cost along and is subject to managers focusing on specific issues of the previous period even though these might be unusual and infrequent(Lanen, 2008) . Example: Account Analysis (Exhibit 5. 1) |3C Cost Estimation Using Account Analysis | |Costs for 360 Repair Hours | |Account |Total |Variable Cost |Fixed Cost | |Office Rent $3,375 |$1,375 |$2,000 | |Utilities |310 |100 |210 | |Administration |3,386 |186 |3,200 | |Supplies |2,276 |2,176 |100 | |Training |666 |316 |350 | |Other |613 |257 |356 | |Total |$10,626 |$4,410 |$6,216 | |Per Repair Hour |$12. 25 ($4,410 divided by 360 repair-hours) | 3C Cost Estimation Using Account Analysis (Costs at 360 Repair-Hours. A unit is a repair- hour) Total costs = fixed costs + {variable cost per unit} number of units T c = f + {v} x |$10,626 = $6,216 + $12. 25 (360) |$10,626 = $6,216 + $$4,410 | Costs at 520 Repair-Hours Total costs = fixed costs + {variable cost per unit} number of units |Tc = $6,216 + {$12. 25} 520 |Total costs = $6,216 + $ $6,370 |$12,586 = $6,216 + $ $6,370 | Advantage of Account Analysis 1. Managers and accountants are familiar with company operations and the way costs react to changes in activity levels. Disadvantages of Account Analysis 1. Managers and accountants may be biased. 2. Decisions often have major economic consequences for managers and accountants. Learning Objective Four: Estimate costs using statistical analysis. The statistical analysis deals with both random and unusual events is to use several periods of operation or several locations as the basis for estimating cost relations . We can do this by applying statistical theory, which allows for random events to be separated from the underlying relation between costs and activities. A statistical cost analysis analyzes costs within the relevant range using statistics. Do you remember how we defined relevant range? A relevant range is the range of activity where a cost estimate is valid. The relevant range for cost estimation is usually between the upper and lower limits of past activity levels for which data is available (Lanen, 2008). Example: Overhead Costs for 3C ( Exhibit 5. 2) The following information is used throughout this chapter: Here we have the overhead costs data for 3C for the last 15 months. Let’s use this data to estimate costs using a statistical analysis. |Month |Overhead Costs |Repair-Hours |Month |Overhead Costs |Repair-Hours | |1 |$9,891 |248 |8 |$10,345 |344 | |2 $9,244 |248 |9 |$11,217 |448 | |3 |$13,200 |480 |10 |$13,269 |544 | |4 |$10,555 |284 |11 |$10,830 |340 | |5 |$9,054 |200 |12 |$12,607 |412 | |6 |$10,662 |380 |13 |$10,871 |384 | |7 |$12,883 |568 |14 |$12,816 |404 | | | | |15 |$8,464 |212 | A. Scattergraph Plot of cost and activity levels Does it look like a relationship exists between repair-hours and overhead costs? We will start with a scatter graph. A scatter graph is a plot of cost and activity levels. This gives us a visual representation of costs. Does it look like a relationship exists between repair-hours and overhead cost? We use â€Å"eyeball judgment† to determine the intercept and slope of the line. Now we â€Å"eyeball† the scatter graph to determine the intercept and the slope of a line through the data points. Do you remember graphing our total cost in Chapter 3? Where the total cost line intercepts the horizontal or Y axis represents fixed cost. What we are saying is the intercept equals fixed costs. The slope of the line represents the variable cost per unit. So we use â€Å"eyeball judgment† to determine fixed cost and variable cost per unit to arrive at total cost for a given level of activity. As you can imagine, preparing an estimate on the basis of a scatter graph is subject to a high level of error. Consequently, scatter graphs are usually not used as the sole basis for cost estimates but to illustrate the relations between costs and activity and to point out any past data items that might be significantly out of line. B. High-Low Cost Estimation A method to estimate costs based on two cost observations, usually at the highest and lowest activity level. Although the high-low method allows a computation of estimates of the fixed and variable costs, it ignores most of the information available to the analyst. The high-low method uses two data points to estimate costs (Lanen, 2008). Another approach: Equations V = Cost at highest activity Cost at lowest activity Highest activity Lowest activity F = Total cost at highest activity level V (Highest activity) Or F = Total cost at lowest activity level V (Lowest activity) Let’s put the numbers in the equations | | | |V = $12,883 $9,054 |V = $10. 0/RH | |568 – 200 | | F = Total cost at highest activity level V (Highest activity) F = $12,883 $10. 40 (568), F= $6,976 Or F = Total cost at lowest activity level V (Lowest activity) F = $9,054 $10. 40 (200) Rounding Difference C. Statistical Cost Estimation Using Regression Analysis Statistical procedure to determine the relationship between variables High-Low Method: Uses two data points. Regression analysis Regression is a statistical procedure that uses all the data points to estimate costs. [pic] Regression Analysis Regression statistically measures the relationship between two variables, activities and costs. Regression techniques are designed to generate a line that best fits a set of data points. In addition, regression techniques generate information that helps a manager determine how well the estimated regression equation describes the relations between costs and activities (Lanen, 2008). We recommend that users of regression (1) fully understand the method and its limitations (2) specify the model, that is the hypothesized relation between costs and cost predictors (3) know the characteristics of the data being tested (4) examine a plot of the data . For 3C, repair-hours are the activities, the independent variable or predictor variable. In regression, the independent variable or predictor variable is identified as the X term. An overhead cost is the dependent variable or Y term. What we are saying is; overhead costs are dependent on repair-hours, or predicted by repair-hours. The Regression Equation |Y = a + bX |Y = Intercept + (Slope) X |OH = Fixed costs + (V) Repair-hours | You already know that an estimate for the costs at any given activity level can be computed using the equation TC = F + VX. The regression equation, Y= a + bX represents the cost equation. Y equals the intercept plus the slope times the number of units. When estimating overhead costs for 3C, total overhead costs equals fixed costs plus the variable cost per unit of repair-hours times the number of repair-hours. We leave the description of the computational details and theory to computer and statistics course; we will focus on the use and interpretation of regression estimates. We describe the steps required to obtain regression estimates using Microsoft Excel in Appendix A to this chapter. Learning Objective Five: Interpret the results of regression output. Interpreting Regression [pic] Interpreting regression output allows us to estimate total overhead costs. The intercept of 6,472 is total fixed costs and the coefficient, 12. 52, is the variable cost per repair-hours. Correlation coefficient â€Å"R† measures the linear relationship between variables. The closer R is to 1. 0 the closer the points are to the regression line. The closer R is to zero, the poorer the regression line (Lanen, 2008). Coefficient of determination â€Å"R2† The square of the correlation coefficient. The proportion of the variation in the dependent variable (Y) explained by the independent variable(s)(X). T-Statistic The t-statistic is the value of the estimated coefficient, b, divided by its standard error. Generally, if it is over 2, then it is considered significant. If significant, the cost is NOT totally fixed. The significant level of the t-statistics is called the p-value. Continuing to interpret the regression output, the Multiple R is called the correlation coefficient and measures the linear relationship between the independent and dependent variables. R Square, the square of the correlation cost efficient, determines and identifies the proportion of the variation in the dependent variable, in this case, overhead costs, that is explained by the independent variable, in this case, repair-hours. The Multiple R, the correlation coefficient, of . 91 tells us that a linear relationship does exist between repair-hours and overhead costs. The R Square, or coefficient of determination, tells us that 82. 8% of the changes in overhead costs can be explained by changes in repair-hours. Can you use this regression output to estimate overhead costs for 3C at 520 repair-hours? Multiple Regressions Multiple regressions are used when more than one predictor (x) is needed to adequately predict the value (Lanen, 2008). For example, it might lead to more precise results if 3C uses both repair hours and the cost of parts in order to predict the total cost. Let’s look at this example. |Predictors: |X1: Repair-hours |X2: Parts Cost | 3C Cost Information | |Month |Overhead Costs |Repair-Hours ( X1) |Parts ( X2) | |1 |$9,891 |248 |$1,065 | |2 |$9,244 |248 |$1,452 | |3 |$13,200 |480 |$3,500 | |4 |$10,555 |284 |$1,568 | |5 |$9,054 |200 |$1,544 | |6 |$10,662 |380 |$1,222 | |7 |$12,883 |568 |$2,986 | |8 |$10,345 |344 |$1,841 | |9 |$11,217 |448 |$1,654 | |10 |$13,269 |544 |$2,100 | |11 |$10,830 |340 |$1,245 | |12 |$12,607 |412 |$2,7 00 | |13 |$10,871 |384 |$2,200 | |14 |$12,816 |404 |$3,110 | |15 |$8,464 |212 |$ 752 | In multiple regressions, the Adjusted R Square is the correlation coefficient squared and adjusted for the number of independent variables used to make the estimate. Reading this output tells us that 89% of the changes in overhead costs can be explained by changes in repair-hours and the cost of parts. Remember 82. % of the changes in overhead costs were explained when one independent variable, repair-hours, was used to estimate the costs. Can you use this regression output to estimate overhead costs for 520 repair-hours and $3,500 cost of parts? Learning Objective Six: Identify potential problems with regression data. Implementation Problems It’s easy to be over confident when interpreting regression output. It all looks so official. But beware of some potential problems with regression data. We already discussed in earlier chapters that costs are curvilinear and cost estimations are only valid within the relevant range. Data may also include outliers and the relationships may be spurious. Let’s talk a bit about each. Curvilinear costs |Outliers |Spurious relations |Assumptions | 1. Curvilinear costs Problem: Attempting to fit a linear model to nonlinear data. Likely to occur near full-capacity. Solution: Define a more limited relevant range (example: from 25 – 75% capacity) or design a nonlinear model. If the cost function is curvilinear, then a linear model contains weaknesses. This generally occurs when the firm is at or near capacity. The leaner cost estimate understates the slope of the cost line in the ranges close capacity. This situation is shown in exhibit 5. 5. 2. Outliers Problem: Outlier moves the regression line. Solution: Prepare a scatter-graph, analyze the graph and eliminate highly unusual observations before running the regression. Because regression calculates the line that best fits the data points, observations that lie a significant distance away from the line could have an overwhelming effect on the regression estimate. Here we see the effect of one significant outlier. The computed regression line is a substantial distance from most of the points. The outlier moves the regression line. Please refer exhibit 5. 6. 3. Spurious or false relations Problem: Using too many variables in the regression. For example, using direct labor to explain materials costs. Although the association is very high, actually both are driven by output. Solution: Carefully analyze each variable and determine the relationship among all elements before using in the regression. 4. Assumptions Problem: If the assumptions in the regression are not satisfied then the regression is not reliable. Solution: No clear solution. Limit time to help assure costs behavior remains constant, yet this causes the model to be weaker due to less data. Learning Objective Seven: Evaluate the advantages and disadvantages of alternative cost estimation methods. Statistical Cost Estimation Advantages 1. Reliance on historical data is relatively inexpensive. 2. Computational tools allow for more data to be used than for non-statistical methods. Disadvantages 1. Reliance on historical data may be the only readily available, cost-effective basis for estimating costs. 2. Analysts must be alert to cost-activity changes. Choosing an Estimation Method Each cost estimation method can yield a different estimate of the costs that are likely to result from a particular management decision. This underscores the advantage of using more than one method to arrive at a final estimate. Which method is the best? Management must weigh the cost-benefit related to each method (Lanen, 2008). Estimated manufacturing overhead with 520 repair-hours and $3,500 parts costs *. The more sophisticated methods yield more accurate cost estimates than the simple methods. |Account Analysis = $12,586 |High-Low = $12,384 |Regression= $12,982 |Multiple Regression= $13,588* | Data Problems Missing data Outliers Allocated and discretionary costs Inflation Mismatched time periods No matter what method is used to estimate costs, the results are only as good as the data used. Collecting appropriate data is complicated by missing data, outliers, allocated and discretionary costs, inflation and mismatched time periods. Learning Objective Eight: (Appendix A) Use Microsoft Excel to perform a regression analysis. Appendix A: Microsoft as a Tool Many software programs exist to aid in performing regression analysis. In order to use Microsoft Excel, the Analysis Tool Pak must be installed. There are software packages that allow users to easily generate a regression analysis. The analyst must be well schooled in regression in order to determine the meaning of the output! Learning Objective Nine: (Appendix B) Understand the mathematical relationship describing the learning phenomenon. Learning Phenomenon Leaning phenomenon refers to the systematic relationship between the amount of experience in performing a task and the time required to perform it. The learning phenomenon means that the variable costs tend to decrease per unit as the volume increase. Example: | |Unit |Time to Produce |Calculation of Time | |First Unit |100 hours |(assumed) | |Second Unit |80 hours |(80 percent x 100 hours | |Fourth Unit |64 hours |(80 percent x 80 hours | |Eighth Unit |51. hours |(80 percent x 64 hours | |Impact: Causes the unit price to decrea se as production increases. This implies a nonlinear model. | Another element that can change the shape of the total cost curve is the notion of a learning phenomenon. As workers become more skilled they are able to produce more output per hour. This will impact the total cost curve since it leads to a lower per unit cost, the higher the output. Chapter 5: END!! COURSE WORK EXERCISE 5-25 – A B PROBLEM 5-47 -A B REFERENCES Lanen , N. W. , Anderson ,W. Sh. Maher ,W. M. ( 2008). Fundamentals of cost accounting. New York : McGraw-Hill Irwin. [pic]

Final Business Plan for Cab Service Rental ERC

Question: Describe the final business plan for cab service rental ECR? Answer: Executive Summary Marketing is a critical activity for an organisation. Success or failure of marketing process can have direct impact on the success or failure of product or service to be launched. That is why in a highly competitive and globalised world marketing has taken precedence over several other business processes. Important to understand is, that marketing strategy is not a straight forward concept or process. It involves several micro and macro factors which might have tremendous impact on the fate of the product or service to be marketed. This marketing plan was prepared with focus on one of the worlds largest car rental company named-Enterprise. Purpose of this marketing plan was to understand, that what all marketing elements should be used in a situation when organisation decided to setup its branch in Brisbane-Australia. 1. Introduction 1.1. Aim Every business organisation wants to succeed in the market in which it has presence, especially when an organisation is expanding its base in a different region. When a business organisation decides to expand, then there are several factors which it needs to focus upon. Setting up the company in a new environment is a complex task and requires lot of meticulous planning and effort (Siguaw Simpson, 2015). In this regard, marketing plan has high relevance for the organisation as it guides the entire business strategy of the organisation in the new market. Purpose of this task is to prepare a marketing plan for a company named Enterprise Rent-A-Car (ERC). This marketing plan is targeted towards guiding ERC to launch its car rental business in Brisbane, Queensland. Marketing budget allocated for the entire marketing process is $500,000 (Australian Dollars). Hence by the end of this marketing plan, reader should be able to identify potential marketing strategies which can be used by ERC to establish itself in Brisbane, Queensland. ERC is a car rental company which was established by Jack Taylor more than 55 years ago, in 1957 in USA. 1.2. Scope Scope of this marketing plan is to suggest relevant marketing strategies to ERC management, for setting up its branch in Brisbane, Queensland only. Marketing plan for ERC will be focused only for Brisbane location, and it doesnt intend to guide marketing strategy of any other location apart from Brisbane. Also, all the financial of the marketing plan will be analysed and decided on the basis of allocated budget for the marketing activity of ERC in Brisbane i.e. $A 500,000. 1.3. Company Background ERC is a car rental company which was established by Jack Taylor more than 55 years ago, in 1957 in USA. ERC was started with just seven cars with a business idea of executive leasing. However, as the business expanded, ERC shifted towards becoming an enterprise. By end of 2011, ERC has generated annual revenue of $14.1 billion and has more than 68,000 employees. ERC as a car rental company has presence in several countries outside United States as well. For example it has more than 8200 rental offices located in five countries such as Canada, UK, Ireland, Germany and US. It is essential to understand that despite of the fact that each of these offices comes under the ERC brand, these rental offices still work as an independent unit, which means that manager of these offices are free to take decisions which suits the customer or regional requirements (Westwood, 2013). This reflects the fact, that ERC despite of growing as a large organisation has maintained its working style as a sma ll organisation itself. Its branches are decentralised. This means that local managers have the freedom to make decisions based on the needs of each location. As a car rental company, ERC has dominated UKs car rental industry as well. ERC has over 370 locations throughout the UK and over 90% of the UK population are within 10 miles of an Enterprise branch. Overall it can be said that ERC has displayed gradual growth over a period of time across globe (Ferrell Hartline, 2012). This marketing plan it targeted towards guiding the company towards exploring and setting up its branch in Brisbane, Queensland. 2. Current Situational Analysis 2.1. Internal Analysis Internal analysis of the company can be done on several aspects. For example its mission statement can be analysed to understand that what exactly ERC as an organisation wants to achieve. Internal analysis also includes focus on the offering, which means what exactly company is offering to its customers, or what value does it have for its customers (Kotler Armstrong, 2013). Mission of ERC is to provide is to provide rental solutions for its customers, and focus on requirement to build strong and loyal relationships through an excellent customer service. Following are the values which are followed by ERC: Quality Respect Innovation Integrity Teamwork Passion Professionalism Hence, it can be seen that ERC is not just focused on some specific aspect, in fact it has focus on its employees, as well as customers and all other stakeholders associated with it. Values followed by the company also reflect the same aspect. As a car rental company, ERC offers wide range of services to its customer. ERC has established itself as a total mobility provider offering consumers neighbourhood and airport car rental, car sharing, ride-matching, vanpooling services, car sales, exotic car rental, motorcycle rental and commercial truck rental. This reflects that ERC has expanded its services apart from providing executive leasing to wide array of segments such as exotic car rentals, or commercial truck rentals (Kotler, 2012). ERC has also contributed to its best capability towards society as part of its corporate social responsibility program. This can be understood by the fact that ERC Foundation has contributed more than $200 million to thousands of local non-profits focused on community improvement, education and environmental stewardship. In nutshell, ERC has clearly setup its mission to take care of its customers, employees and the communities. Based on the case study, it can be said that for this marketing plan resource available in terms of budget is of $A500, 000 which needs to be utilised judiciously in order to achieve the maximum benefit for the proposed marketing plan. 2.2. External Analysis External analysis of ERC will help in understanding the influences on the organisation. In order to do a comprehensive external analysis, PEST framework can be used. PEST framework basically covers four elements on the basis of which analysis is done. These elements are: Political/Legal: In terms of political analysis, it can be said that ERC has been involved in keen competition with various other car rental companies such as Avis, Hertz etc. However, policy of local or regional government to provide more tax benefits to local car rental companies might have negative impact on ERCs plan in Brisbane, Australia. Also, high tax rates in certain regions might impact the profitability of the business. Economic: In economic context, it can be said that true equity market value of ERC is estimated at $17 billion, whereas for its one of the close competitor Hertz it is around $7.5 billion. In Brisbane there are various car rental companies such as Avis, Hertz, Budget, Europcar, Thrifty and Redspot. However, apart from Avis and Hertz other companies are small and do not have market value as large as ERC, which can be a major advantage for ERC in future. Social: In terms of social factors, changes in consumer behaviour have impacted the organisations in a major way. With high disposable income in new proposed market like Brisbane there is large customer base which can afford renting a car. Unlike past when people were focused more on taxis and cabs, today renting a car is much more viable option for people, especially for the one who are in young age group. This change in social attitude towards rented car has helped companies like ERC to grow gradually (Lee Kotler, 2011). Technological: technology has played major role in advancement of ERC as an organisation which had only seven cars to start with. Today, ERC is managing its branches more than 8000 in numbers. This could not have been possible without support from technology. Advancement in technology and ease of logistics has helped ERC tremendously in becoming worlds largest car rental provider. For example, technology such as GPS enabled devices which are installed in all the vehicles of ERC has ensured better consumer safety (Bickhoff et al, 2014). Similarly use of internet based website has enabled ERC to take leverage of internet as a platform from where its users can book a car for rental. This can be understood from the screen shot displayed below which clearly shows that how ERC is using its website to allow users to book their cars for rental. Figure 1: Home page of Enterprise rent-a-car 2.3. Market Analysis 2.3.1. Market definition Car rental industry is mainly an industry which provides car for rental purpose to its users for a specific period of time. However, companies like ERC offer light trucks as well on rent to companies and business (Morritt Weinstein, 2012). In Australia Car rental grew by 10% in value in 2013, reinforcing Australias position as one of the most developed car rental markets in the world, with a per capita expenditure of A$65. Market definition of car rental includes both passengers as well commercial vehicles. Over a period of time, car rental industry has grown by leaps and bounds, especially in Asian countries. However, developed countries like UK, Australia and United States remains the core market for the car rental industry, as these countries have reputation of being safe country in which drive and relating ease with which international visitors can rent a vehicle has made the industry growth fast. 2.3.2. Market trends The global car rental industry witnessed intense competition during the previous years, which forced companies to offer new and better services to their customers. The industry is expected to reach US $67.6 billion by 2017 with a CAGR of 3.5%over the next five years. The industry consists of all car rentals, contracted to be of less than one year duration, for corporate, individual, recreational, or business purposes. Europe is estimated to witness the most growth during the forecast period due to growing airport rentals and gradual recovery of airline activities in the past two years (Lovelock, 2011). The prospects of car rental in Australia remain strong, with an expected value CAGR of 5% over the forecast period at constant 2013 prices, a significant improvement from the value CAGR of -1% at constant 2013 prices experienced between 2008 and 2013. Although business car rental is expected to soften in the aftermath of the mining boom, the much larger category of leisure car rental will flourish as the depreciating Australian dollar encourages more consumers to travel at home (Pride Ferrell, 2015). 2.3.3. Competitive situation In terms of competitive situation, since this marketing plan is targeted towards setting up ERCs branch in Brisbane, Australia hence it becomes important to analyse the competitive situation in Australia. As per survey from Canstar, Hertz is the top car rental company when it comes to customer satisfaction, in fact not just customer satisfaction but Hertz tops the other categories such as satisfaction, service, availability, booking process, transparency of costs and availability of accessories. However, cost conscious customers who look for low cost rental care prefer company named Thrifty, which came out on top among the cheaper set of hire car companies (Varadarajan, 2011). Overall it can be said that competitive scenario in Brisbane, Queensland is stiff as there are various large and small companies which are competing for supremacy. These companies include Avis, Hertz, Budget, Europcar, Thrifty and Redspot. In such situation ERC will definitely find it hard to establish itself i n Brisbane market, but considering the market position of ERC and amount of experience it has in global car rental market, it can still innovate and offer tough competition to existing companies in the Brisbane car rental companies. 2.3.4. Customer needs In terms of customer needs, it can be said that customer requirements varies significantly from time to time. For example there is a major segment of customers in Brisbane who wants cheap car rental, whereas there is a large customer segment which will not mind paying premium for getting high end cars for rental. There is significant number of customers for whom safety is important, that is why they prefer car rental companies which offer GPS fitted device to track the car. Over a period of time customer requirements have evolved gradually. From just demanding car rental, they are now expecting variety of services within the core service offered by the car rental companies (Westwood, 2011). However, for ERC it is also important to understand that there are several common issues which are faced by customers in Australian market. These common issues are: Ambiguity in fees, as it has been reported that at times excessive fees is charged for services, including petrol top ups Another major issue with customers is the complain that, at times they do not receiving the car model booked Many customers have expectation from the car rental companies to ensure that accessory such as GPS is installed in the vehicle. Quoted price being higher than the final price due to additional insurance charges and extra charges at pick up Hire cars not coming with a street directory Poor service, including excessive wait times before collecting cars and general helpfulness of staff Hence it is important for ERC to ensure that in order to establish itself; it should address all the above mentioned issues. 3. SWOT Analysis SWOT analysis for ERC is as follows: Leading Market Position Robust Financial Performance No. 1 in Customer Service Large Fleet of Vehicles Decentralized business (local branches make decisions according to location) Automated Rental Management System (ARMS) 55% of share in market of off-airport car rental services Maintenance and Cost of Repairs Very Capital Intensive Operations No One-Way Rentals Available rental cars older than competitor choices Trend for renting cars has increased among youths with high disposable income. Use of Internet for rentals along with use of mobile based applications has increased significantly. Bigger presence at the Airports Serving Green Customers Move cars from city to city as demand for different cars changes Sell patented Automated Rental Management System (ARMS) to competitors Increasing Fuel Prices Intense Competition Downturn in the (Used) Car Markets Mergers Acquisitions Hertz car-rental service dominates on-airport locations and is main competitor Vanguard, Avis and Budget are additional competitors with less market share than Hertz Based on the SWOT analysis it can be said, that ERC is placed in a comfortable situation in market. ERC is in a strong competitive position, and it can use the same aspect in Australian market as well. In Brisbane Apart from Avis and Hertz, all other car rental companies are relatively small in nature. Thus, ERC can focus on establishing itself through various ways, such as acquiring a smaller company, rather than opening a completely new branch (Wirtz, 2012). 4. Segmentation In terms of segmentation, it is first important to understand the demographic structure of Brisbane. It can be said that Brisbane is one of the Australias largest metropolitan city comprising of more than 3.1 million people. Out of which 70% of people reside in Greater Brisbane area. Important point with Brisbanes population is it has large number of people who come from business community, in which working population varies between 20 to 64 years of age. Brisbane boasts of extremely well educated population with over 330,000 residents having university degree (Vitale, 2011). In such scenario, ERC can have two target customer segments, firstly the working population of Brisbane which daily commutes form their home to work place. For them, ERC can offer special schemes as can be a potential target customer segment that can be using the ERC services frequently. Another important segment which ERC can target is of business community. This segment might prove to be high revenue segment a s car rental duration for this segment can be higher, since in order complete business transactions and meeting people from business community often travel from one city to other (Roberts Zahay, 2012). Hence, target segment for ERC should be the educated class and the business community of the city. 5. Target Market Target market for ERC should be the middle class, upper middle class and affluent class of Brisbane. Even though affluent class have their own vehicles, but there are still several people in this segment who want convenience (Bergiel et al, 2011). Hence, it can be said that ERC should be focusing on both households and business class of customers. Individual customers might need to use the rental services for purpose such as tourism etc. Whereas business users might be requiring rental services in order to travel from one city to other without getting into hassles of arranging for their own vehicles. However it is important to understand that for any car Rental Company irrespective of the region in which they function, there target market is always focused on the customers who need temporary vehicles. This need for temporary vehicles might arise due to multiple reasons such as accidents, theft, mechanical repair, special occasions such as leisure and business trips, and weekend getaw ays. ERC can also stick to basics of car rental companies where it can focus on providing car rental services to neighbourhood consumers (Cherubini et al, 2014). Another important target market for ERC can be requirement for commercial vehicles. Considering the fact that ERC is already having services in renting commercial vehicles such as trucks and mini trucks, hence, it can focus on business community which cannot afford to have commercial vehicles, but they still need to have one. In that situation, ERC can create a dedicate target market of such customers and can accordingly offer rental services for commercial vehicles (Stevens et al, 2012). A young professional who often wish to commute through four wheelers, but cannot afford to buy one is also one of the potential target market. ERC can create dedicated market segment for such customers who have less purchasing power but still want to use comfort of four wheelers. Overall it can be said that ERC in Brisbane will have multiple target market. It can also focus on airport locations as there are lot of flyers who visit Brisbane for business or leisure purpose for short duration (Verma, 2012). Hence, ERC can target such customers from the airport itself, so that when a potential customer reaches the airport, they have the option to rent a car from airport itself. 6. Positioning Focus of ERCs promotional and advertising campaigns should be focused on highlighting ERC as a car rental company which offers cheaper, greener alternative for the residents of Brisbane. ERC can also offer promotional offers to the residents of Brisbane such as 50% off on weekend travel. Such offers can be extended for a specific time period, especially during its launch phase (Thomas Housden, 2011). Positioning is an important element of marketing plan. It mainly focuses on the aspect of creating an initial brand impression on the customer. Positioning helps the business in creating the first impact on the customer. Hence, ERC should be focused on proper positioning strategy as it will help in creating an initial impression on its target market. Considering the fact that Brisbane already has Avis and Hertz, which are one of the top most car rental companies in the world, ERC should be focused on promoting its brand as a car rental company which has much more brand value than Avis or Hertz. Hence, in initial phase ERCs complete focus should be on launching a marketing campaign which can help it to cut through the clutter of already existing car rentals companies. ERC can focus use of various mediums such as social media networks such as Facebook or Twitter.com to connect with the users. Rather than using conventional mediums of marketing, it should focus more on digital mediums t o reach its customers. Hence, it can tie-up with any cellular network to reach to its potential customer segments. Considering the fact that majority of the customers today are glued to their smart phones, ERC can focus on sending targeted messages and e-mails about its arrival in the city. This will help the company to reach its customers directly (Chulkov Nizovtsev, 2012). 7. Objectives Objective of the marketing plan is clear. The core idea behind the marketing plan is to help ERC setup its first branch in Brisbane. Marketing plan for ERC is mainly focused on understanding the current market environment in Brisbane related to car rental industry. This marketing plan will enable ERC to identify the target market along with is segment of customer which it wants to focus upon (Kennedy, 2011). In a way, it can be said that marketing plan for ERC will lay down the roadmap for the organisation related to its initial launch in the city. Marketing plans objective is to ensure that there is clear understanding on what aspects ERC should focus upon initially, considering the fact that there is limited budget of $500,000 available for marketing efforts, hence it is important for the business to ensure to have a proper strategy related to using this budget, and marketing plan is one such element which will enable ERC to approach its launch in Brisbane in a controlled manner. 8. Marketing Strategies 8.1. Product Initially ERC should focus on providing following products and services Fleet Management Services: As part of this service ERC can tie-up with corporates located in Brisbane to handle their fleets. In this service ERC will be completely responsible for handling its clients vehicle acquisition and disposal, and their licensing and taxes (Ottman, 2011). Sale of Used Cars and Trucks: ERC can also diversify its offering in Brisbane further to sell its used cars and trucks to customers. They can position this services as tension free buying with full reliability from a trusted brand. Vehicle rental and leasing: this service offering will be the core component of ERCs business in Brisbane (Aaker, 2012). As part of this service, ERC can focus on offering vehicles n lease to its customer based on certain terms and conditions. 8.2. Price ERC can offer differential pricing strategy in Brisbane. It is obvious that it cannot charge the business users similar to non-business users. Prices need to be high enough to cover all incurred costs and competitive enough to achieve profitability, and increase both sales and market share. It is important to understand for ERC that due to economic recession customers in Brisbane might be looking for a cheaper yet reliable car-rental service. Hence it is important for ERC to focus on offering relatively discounted services in its initial phase of launch (Mudie Pirrie, 2012). It is important for ERC to understand that car rental services are a highly competitive market in terms of pricing. Hence it should come up with a pricing structure which should be at par with the existing car rental services. From time to time it can come up with special schemes to lure more customers (Wilson Cooper, 2013). It is equally important to keep in mind about the increasing operating costs due to fluctuation in petrol and diesel prices. ERC should not offer discounts by neglecting its operating costs, as it might cannibalise its own profit making capability (Guerriero Olivito, 2013). 8.3. Promotion Following should be objectives behind the promotional strategy. Gain market awareness among youth section of Brisbane through media campaigns on social media networks such as Facebook, and Twitter.com Focus on creating a viral campaign, so that it can engage with more and more customers across Brisbane. Increase in market awareness for urban, young professionals and business community through outdoor advertisement in metropolitan area of Brisbane. Promotional strategy of ERC should be such that it should force customers to believe that ERC is the best available option when it comes to renting a vehicle in Brisbane (You Hsieh, 2014). In order to establish this, ERC can portray its successful operations in other countries; this will bring an element of reliability among the customers, as customers always focus on a car renting service which has a proven track record. Also ERC being an international brand, consumers will also be curious to experience an international brand. 8.4. Place In terms of place, core focus on ERC should be targeted towards following areas in Brisbane: Airports: Airports will enable ERC to target customers who are entering Brisbane for either leisure or business purpose. By showcasing its brand on airport itself, ERC will give its potential customers an option to experience the car rental services offered by the organisation (Guerriero Olivito, 2011). Business districts of Brisbane: These will be the regions within Brisbane where there will be maximum concentration of business community along with working professionals. Hence, ERC should have specific focus on these regions, as it can extract maximum customer from this region (Kuo, 2011). 8.5. People In order, to setup the service in Brisbane, ERC has to focus on the people aspect of the marketing strategy as well. Hence, as part of this marketing strategy element ERC will be required to hire local drivers to support its fleet of cars and trucks. It is important for ERC to hire experienced drivers who are well versed with the local routes and culture of Brisbane and can understand the customers communication. One important aspect which ERC needs to ensure that the people which it hires should be technology savvy, as there are lot of technological devices such as GPS tracker etc. are used. For supporting its branch also, it needs to hire some resources, who will be responsible for smooth functioning of local office of ERC in Brisbane. 8.6. Process Booking process for ERC will be on two platforms. First platform will be e-commerce website of ERC, where user can visit ERC website, fill in the details and then confirming the booking. Since ERC is offering car rental services, hence the final payment of the service is mainly done only towards the end of the journey. In that case, ERC can equip all its vehicles with credit/debit card readers, to which customers can swipe and make payment. In order to support the booking process and other transactional details, a backend call-centre will be required which will not only support the booking process, but will also take bookings from customer who wish to book through phone call. 8.7. Physical Attributes In terms of physical attributes, ERC should ensure that its office is located in the business organisation dominated area of the city. After some point of time, ERC can also setup a branch in residential areas of the city. With this strategy it will be able to cater to both business as well as casual users. ERC office theme should be in alignment with its international theme, this is important as it will ensure uniformity in the customer experience, especially for the one who might be already a user of ERC in other countries. A well trained and professional staff should be hired to support the office work. Last important aspect related to physical attribute is the uniforms of drivers and staff. In order to ensure a uniformity and professionalism, ERC should ensure uniforms for all its drivers and staff during the time of duty, this will give an unique identity to its employees and brand, and will help in improving the overall brand image through focus on professionalism. 9. Action Plan In terms of action plan following will be the stages which ERC can follow to setup its business in Brisbane: Initial market analysis: this will reveal its target customer base, which it needs to target. It will also help ERC to analyse the existing situation of car rental market in Brisbane. Identification of location for office: As part of this process, ERC needs to identify an office from where it will operate its business. Initially it can start with one branch in Brisbane around business centre. Once it is established, it can then focus on to setup other smaller branches around residential areas of Brisbane to cater neighbourhood people looking for car rental services (Carroll Grimes, 1995). Promotional campaign and launch: ERC once ready with its infrastructure, it should then launch aggressive promotional campaign which will help it create market awareness about its brand (Pachon et al, 2006). Offering services to customer: This stage will be executed in parallel to promotional campaign (Boeffgen Kartach, 2002). As part of this stage, focus will be to convert the lead or queries about the services offered by ERC. 10. Marketing budget As mentioned in the case study, total marketing budget allocated for ERCs marketing activities is $A 500,000. Hence it should use the budget in following way: Stage Expense Initial market analysis $A15,000 Renting an office space $A90,000 Promotional campaigns $A145,000 Acquiring initial fleet for customer service $A250,000 Hence from above breakup it can be said that initial expense will be in promotional campaigns and hiring/buying fleet for offering it to customer on rent. 11. Control and Contingencies In terms of control and contingencies, ERC should focus creating a backup fund of another $A500, 000, this fund will be like a backup fund, which will enable ERC to scale up its business further if needed. It can also use this fund to offer initial discounts to its customers, and support its operational expenses (Russell, 1999). It is obvious, that from day one ERC will not be able to break even. It will take a significant amount of time to recover its initial cost of business (Julian, 2000). Hence in such situation it should have specific amount of funds to support its operational processes. Also, ERC should setup controls to monitor its services. In car rental industry, security is one major concern of the customers. Hence, ERC can focus on setting up a control room which will enable it to monitor movement of its fleet. It should also focus on gathering customer feedback so that any negative review on the services offered can be resolved quickly. 12. Conclusion Overall, it can be said that Enterprise rent-a- car exists in a highly competitive sector. Its business in Brisbane will definitely not be an easy one, especially due to presence of so many other car rental companies (Guerriero et al, 2012). However, it can definitely take an advantage of its vast experience in the field of car rental services, and use that experience in understanding the current market of Brisbane. Main aspect which ERC needs to focus upon is its positioning. 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