...sciences have developed a plethora of explanations in describing the success -and to a far lesser extent the failure- of individual entrepreneurs as well as various business communities in World History. The most well known explanations and theories include: the concept of the stranger (Simmel); the spirit of capitalism (Weber); the innovator and the imitator (Schumpeter and Hoselitz); the collaborator (Gallagher and Robinson, in Louis) and the middlemen minorities (Bonacich and Dobbin).3 Despite these long and varied theoretical traditions, we are still unable to explain the why and how some families among indigenous middlemen minorities develop towards industrialists in colonial contexts, whereas others don’t. Simmel argues that migrant traders who decided...
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...U.S, Asia and Europe. The company trades on the New-York Stock Exchange; using the ticker symbol GS. Similar and in some respects worse than other investment banks, Goldman Sachs profits fell in 2011; reportedly by as much as 58% in the final quarter when compared to the same period a year earlier. It is well documented that the financial services industry has been cutting jobs post 2008 financial meltdown. Just last year, Goldman Sachs slashed some 2,400 jobs while setting aside an approximate $367,000 in compensation per employee, down 15% from an average of $430,000 in 2010. One distressed employee referred to the reward/compensation cut as a ‘bloodbath’. From all reports it seems like the culture and morale at Goldman, the most profitable bank in Wall Street history, is at an all time low; particularly since management has taken a decision to cap cash bonuses at $125,000. Goldman went from having perhaps the most envied compensation/reward benefits package to having a barely decent benefits package in the past year. Goldman has lost a lot of their top rainmakers and seasoned executives...
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...978-1-4196-9563-6 PRINTED IN THE UNITED STATES OF AMERICA To my family for supporting me even in my craziest moments. Table of Contents PREFACE ........................................................................................................ IX INTRODUCTION: WHY DAY TRADING? ....................................................... XIII HOW TO GET THE MOST OUT OF THIS BOOK .............................................. XIX PART 1: DAY TRADING BASICS – WHAT YOU SHOULD KNOW .......1 WHAT IS DAY TRADING?................................................................................. 3 WHO SHOULD BE DAY TRADING? ................................................................... 5 IS IT REALLY POSSIBLE TO MAKE A LIVING AS A DAY TRADER?.................... 9 HOW TO GET STARTED - DEFINE YOUR GOALS AND MAKE A PLAN .............. 17 1.) Define Your SMART Goal.................................................................. 18 2.) Make a Plan...
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...OF AMERICA To my family for supporting me even in my craziest moments. Table of Contents PREFACE......................................................................................................... VIII INTRODUCTION : WHY DAY TRADING?................................................................... XI HOW TO GET THE MOST OUT OF THIS BOOK..................................................... XVII PART 1: DAY TRADING BASICS – WHAT YOU SHOULD KNOW ......................... 1 WHAT IS DAY TRADING?....................................................................................... 2 WHO SHOULD BE DAY TRADING?.......................................................................... 4 IS IT REALLY POSSIBLE TO MAKE A LIVING AS A DAY TRADER?................................ 8 HOW TO GET STARTED - DEFINE YOUR GOALS AND MAKE A PLAN.......................... 15 1.) Define Your SMART Goal ................................................................... 16 2.) Make a...
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...Pepsi’s Strategy in the Carbonated Soft Drinks Market Term Project MAN 385 Prof. Preston McAfee Prepared by: Valentin Angelkov Tray Black Angie Green Jerry James Erin Lutz April 30, 2003 Introduction The following paper analyzes how PepsiCo can increase profitability in the carbonated soft drink (CSD) industry. The industry is a tight oligopoly with Pepsi and its chief competitor, Coca Cola, comprising 70% of the total market. 1 Global beverage sales for PepsiCo in 2000 were $7.6 billion; however, sales growth has averaged only three to four percent in mature markets such as North America2. PepsiCo and Coke have expanded into other ready to drink beverages such as bottled water, tea, and juices in order to counter this low growth in the CSD industry; for the purpose of this paper, however, we will focus on how to affect profitability in the CSD industry. In particular, the paper will examine how current actions by PepsiCo regarding differentiation, pricing, cooperation, and complements have affected their profitability in the CSD industry. Furthermore, the paper will give specific recommendations, with an emphasis on cooperation tactics and complements. Industry Overview The industry for carbonated soft drinks is characterized by the following five forces: Threat of New Entrants – Currently, the biggest threat of entry faced by the majors is from private label manufacturers such as Cott Corporation. Private labels now hold an 8.1% share in the CSD market, the majority...
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...Oxfam: International Commodity Research – Coffee Confidential: Not for distribution or publication The Coffee Market – a Background Study Oxfam: International Commodity Research – Coffee Confidential: Not for distribution or publication Acknowledgements This background study was written by Oliver Brown, Celine Charveriat and Dominic Eagleton. The authors want to thank the following persons for their useful comments: Mehmet Arda, Maria Jose Barney, Bart Ensing, Penny Fowler, Brian Lewin, Lamon Rutten, Denis Seudieu, Robert Simmons, Marcelle Strazer, Kevin Watkins, Michael Wheeler and Pete Williams. i Oxfam: International Commodity Research – Coffee Confidential: Not for distribution or publication EXECUTIVE SUMMARY '[When prices are low] , we sacrifice a lot in the way of clothing, tools and food. We can’t afford meat, we had to buy other parts of the animal which were inferior. We can’t eat eggs, or drink milk...When the children get ill we don’t have the money to take them to the doctor… One always lives with uncertainty, always in debt; it's always borrow here, borrow there; we live dependent on credit... Of course, there is no peace living with such uncertainty. You don't know whether to take out a loan or not because you could lose the money you've invested.’ Vitelio Menza, small coffee producer in Colombia1 Providing livelihoods to farmers in developing countries is a crucial challenge for reducing world poverty. When fairly priced, export...
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...Taking a new consumer goods category from zero to 100 in no time flat The race to create categories and subcategories may be your best option in emerging markets. Here’s how winners set the pace. By Mike Booker, Wlademir Gomes, Nikhil Ojha and Robert Schaus Mike Booker is a Bain & Company partner based in Singapore and leads the firm’s Consumer Products and Retail practices in Asia-Pacific. Wlademir Gomes is a Bain partner in São Paulo. Nikhil Ojha is a Bain partner in New Delhi. Robert Schaus is a Bain partner in Kyiv. Pierre-Laurent Wetli, a Moscow-based principal, and Joachim Breidenthal, a principal based in Johannesburg, also contributed to this article. Copyright © 2012 Bain & Company, Inc. All rights reserved. Taking a new consumer goods category from zero to 100 in no time flat Branded edible oils in Sudan, soy fruit drinks in Brazil, isotonic drinks in Indonesia. Five years ago, these categories were barely on the radar in these countries. By 2011, they ranged between $400 million to $890 million in revenues in these markets, generating significant profits for the companies that took the initiative to introduce them. Emerging markets may be expanding at a record-setting pace, but many also are undergoing rapid category consolidation. It’s to the point where, in many cases, the top three to five players now control the lion’s share of a category in any given market. Consolidation can slim margins for incumbents and limit opportunities for new players. That leads...
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...Market has been a leader in the natural and organic food movement across the United States, helping the industry gain acceptance among growing numbers of consumer concerned about the food they eat (Thompson, Strickland, & Gamble, 2010, p.C-2). The company seeks out the finest natural and organic foods available, maintains the strictest quality standards in the industry, and has an unshakeable commitment to sustainable agriculture. Add that to the excitement and fun they bring to shopping for groceries, and you start to get a sense of what they are all about. John Mackey, the company’s cofounder and CEO, believes that Whole Foods’ rapid growth and market success has much to do with its having “remained a uniquely mission-driven company—highly selective about what we sell, dedicated to our core values and stringent quality standards and committed to sustainable agriculture” (Thompson, et al., 2010, p.C-2). Mackey’s vision was for Whole Foods to become an international brand synonymous not just with natural and organic foods but also with being the best food retailer in every community in which...
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...community with similar constraints and opportunities, it may then dictate the representation of the total population and economic scenario of a country such as Bangladesh. The population is predominantly rural with about 76.61 percent of the total population living in rural areas and directly or indirectly engaged in a wide range of agricultural activities (BBS, 2001) Bangladesh witnesses a gradual increase in the share of the industrial and service sectors to GDP over the years yet agriculture remains a fundamental sector with Contribution of 22% to GDP and Absorption of more than 60% of national workforce. The agricultural business in Bangladesh is mainly centers round three types of agents including producers, traders and consumers. The traders are not doing anything special but gaining the extra profit from change of hands. This system exploits the producers directly by not giving the appropriate share they actually deserve. Despite significant growth potential, several constraints exist amidst rural market systems that are detrimental to a sustained and high economic growth. With the aim of efficiently exploiting agronomic and non-farming sector potential on a sustainable basis, the formulation of the rural development strategy should force to amplify the competitive advantage to engage in efficient...
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...Market has been a leader in the natural and organic food movement across the United States, helping the industry gain acceptance among growing numbers of consumer concerned about the food they eat (Thompson, Strickland, & Gamble, 2010, p.C-2). The company seeks out the finest natural and organic foods available, maintains the strictest quality standards in the industry, and has an unshakeable commitment to sustainable agriculture. Add that to the excitement and fun they bring to shopping for groceries, and you start to get a sense of what they are all about. John Mackey, the company’s cofounder and CEO, believes that Whole Foods’ rapid growth and market success has much to do with its having “remained a uniquely mission-driven company—highly selective about what we sell, dedicated to our core values and stringent quality standards and committed to sustainable agriculture” (Thompson, et al., 2010, p.C-2). Mackey’s vision was for Whole Foods to become an international brand synonymous not just with natural and organic foods but also with being the best food retailer in every community in which...
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...Your student ID ______________________________ THE UNIVERSITY OF Your Name __________________________________ Your Signature _______________________________ NEW SOUTH WALES Australian School of Business School of Marketing MARK1012: Marketing Fundamentals Final Examination Session 1, 2012 Instructions: (Please read these instructions carefully) This examination paper consists of THREE sections: Section A (10 Fill in the gaps: 10 marks); Section B (3 Short essay questions: 20 marks) and Section C (50 Multiple choice questions: 20 marks). It has FIFTEEN (15) printed pages excluding this page. Printing is double sided, so check each page carefully. You have two (2) hours to complete this examination plus 10 mins reading time. Read all the questions carefully and answer all questions as instructed. Questions must be answered in ink. Write all your MULTIPLE CHOICE answers (SECTION C) in the Generalised Answer Sheet provided. Note that there are FIFTY (50) Multiple Choice Questions. Print your full name and student ID number {z… } on the first page and sign. Use of UNSW approved calculators is permitted. No other material is to be taken into the examination room. This paper accounts for 40% of your overall course grade (However, it is marked out of 50). You may NOT retain this paper. SECTION A: FILL IN THE GAPS (Please write your answer in the gaps provided in each statement) (10x1...
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...VAULT CAREER GUIDE TO INVESTM E NT BAN KING 2008 EDITION is made possible through the generous support of the following sponsors: Customized for: Triston Francis (tfran@wharton.upenn.edu) SEO Online Career Library The media’s watching Vault! Here’s a sampling of our coverage. “For those hoping to climb the ladder of success, [Vault’s] insights are priceless.” – Money magazine “The best place on the web to prepare for a job search.” – Fortune “[Vault guides] make for excellent starting points for job hunters and should be purchased by academic libraries for their career sections [and] university career centers.” – Library Journal “The granddaddy of worker sites.” – U.S. News & World Report “A killer app.” – New York Times Customized for: Triston Francis (tfran@wharton.upenn.edu) SEO Online Career Library One of Forbes’ 33 “Favorite Sites” – Forbes “To get the unvarnished scoop, check out Vault.” – SmartMoney Magazine “Vault has a wealth of information about major employers and jobsearching strategies as well as comments from workers about their experiences at specific companies.” – The Washington Post “A key reference for those who want to know what it takes to get hired by a law firm and what to expect once they get there.” – New York Law Journal “Vault [provides] the skinny on working conditions at all kinds of companies from current and former employees.” – USA Today Customized for: Triston Francis (tfran@wharton.upenn.edu) SEO Online Career Library ...
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...Prepare for Trading Series #1 - Motivation MOTIVATION Trading for any decent period of time is hard, really hard. If you want to trade to make a difference in your and your loved ones lives it is critically important to prepare for this hardship. An excellent point to start is to think about your motivation to trade. You would also like to keep that motivation going for a long period of time, seeing that trading is not only hard but also potentially very lucrative over time. To be clear, we aren’t currently concerned with goals and “how to succeed” at trading forex. Trading goals and implementing processes to achieve those goals aren’t motivation. That follows on being motivated to trade. There are different ‘levels’ of trading motivation. It is really important to know where you pitch up long before you begin to look for “trading systems”, “brokers one can trust” and “low spreads and high leverage”. So the million dollar question remains: WHY TRADING? Your answer will be unique. I think there might be some value in my unique story. Allow me to share it in short. Late in April 1998 I found myself sitting in a conference room of the small company I was a founding member and owner-manager of at that stage. We had some issues. With me were one of the other founding members and some people I knew very well who were in a process to buy me out. Although I didn’t know it until one had asked the question: “why don’t you take our offer of XYZ rand”? Imagine my surprise...
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... |2 | | |RESEARCH METHODOLOGY |3 | | | | | | |PART I | | | | | | |I |BASIC |4 - 7 | |II |STOCKS |8 - 11 | |IIII |INVESTORS |12 - 14 | |IV |INVESTING |15 - 21 | | | |...
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...THE JOURNAL OF FINANCE • VOL. LVI, NO. 4 • AUGUST 2001 Investor Psychology and Asset Pricing DAVID HIRSHLEIFER* ABSTRACT The basic paradigm of asset pricing is in vibrant f lux. The purely rational approach is being subsumed by a broader approach based upon the psychology of investors. In this approach, security expected returns are determined by both risk and misvaluation. This survey sketches a framework for understanding decision biases, evaluates the a priori arguments and the capital market evidence bearing on the importance of investor psychology for security prices, and reviews recent models. The best plan is . . . to profit by the folly of others. — Pliny the Elder, from John Bartlett, comp. Familiar Quotations, 9th ed. 1901. IN THE MUDDLED DAYS BEFORE THE RISE of modern finance, some otherwisereputable economists, such as Adam Smith, Irving Fisher, John Maynard Keynes, and Harry Markowitz, thought that individual psychology affects prices.1 What if the creators of asset-pricing theory had followed this thread? Picture a school of sociologists at the University of Chicago proposing the Deficient Markets Hypothesis: that prices inaccurately ref lect all available information. A brilliant Stanford psychologist, call him Bill Blunte, invents the Deranged Anticipation and Perception Model ~or DAPM!, in which proxies for market misvaluation are used to predict security returns. Imagine the euphoria when researchers discovered that these mispricing proxies...
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