Marriott Case Hbs Free Essays

Issue In this assignment, we are asked to compute the WACC of Marriott Corporation and each of the company’s three divisions. Our approach is outlined in the next section. We made a series of assumptions regarding either the available data or the missing information. We will write a custom essay sample on Marriott Case Hbs or any similar topic only for you Order Now This has been explained below, in a separate section. Approach We applied the following formulae to calculate the WACC: Our assumptions are explained in the next section. The table below presents the approach for calculations at corporation level and division level according to each of the variables. Marriott’s capital structure comprises debt (fixed and floating) and equity. Marriott CorporationBusiness Lines 1Beta of Debt (?  ¬Ã‚ ¬d)Computed using correlation between SP500 returns and HG Corp Bonds (recent history is implicitly more weighted), s. d. of the SP500 and s. d. of the HG Corp Bonds (Exhibit 4)Same 2Risk-Free RateEstimated to be equal to 10y US Gov Interest Rate as of April 1988 (Table B)Same 3Current LeverageUsing financial statements (Exhibit 1), we estimated the market value of debt and divided by market value of assets. Market value of debt is estimated to be equal to its book value. Market value of assets is equal to market value of debt + market value of equity (number of outstanding shares * price per share)N/A 4Market Risk PremiumFrom table of returns (Exhibit 5), taken as the average of spread between rates of return for SP500 and LT US Gov Bonds, 1926-87Same 5Tax RateEstimated from data in exhibit 1, from ratio between income before tax and net income for year 1987Same 6Beta of Equity (? E), Unlevered ? E Levered can be found in Exhibit 3 for the current debt load. Using the current leverage ratio (Step 3), we calculate the unlevered ? E. Having found unlevered equity betas of comparables from their leverage ratio and levered ? E (Exhibit 3), we averaged the unlevered ? E to get the unlevered ? E for each Marriott division. Restaurants division was mapped on Restaurants comparables, Lodging on Hotels whilst Contract Services was implied from Marriott’s and other two divisions unlevered ? E and their respective share in total assets book value. 7Cost of Equity (RL)We recalculated the new Levered ? E based on target leverage of Marriott (Table A) then, combine the Levered ? E, risk free rate, and MRP to calculated the cost of equity using CAPM relationship. Same, except unlevered beta from previous step was used to calculate levered beta. 8Cost of Debt (RD)See step 7, using Beta DebtSame 9WACCWACC formula accounting for ITS correctionSame, respective target leverage ratios and a ? D equal to Marriott’s ? D were used to estimate WACC. Assumptions †¢Overall Assumptions: Although we assume an ITS, we do not have the data to calculate individual ITS for each division and Marriott. As a result, we assume E*=E (rather than E*=E+ITS) and that the ITS is as risky as debt. We assume debt is perpetual and no growth. Beta of Debt: Although Marriott is one firm, we assume it is fairly comparable to a generic HG Corp, with single A rating. Therefore we performed a linear regression on the rate of returns of HG Corporate Bonds against SP 500 rate of returns, as a proxy of the market portfolio rate of returns. †¢Risk-free rate: The 10Yr UST is assumed to be the best estimate at company and division level. Ideally, each cash flow shoul d be discounted using a government bond with the same maturity. For this case, the selection of the maturity should one that matches best the entire cash flow stream being valued. Also, 1Yr rate is very volatile and 30Y illiquid and thus there is premium built therein. We have assumed that the rates provided in Table B are for zero-coupon bonds, and USD. †¢Current leverage: Market value of debt is estimated to be equal to its book value. The firm is HG, risk premium for HG bonds is relatively low, and we have no information on coupon level of fixed rate debt. The floating rate debt is likely to trade close to par. For subsequent calculations, we also assumed the average maturity at five years. There is only long-term debt for us to consider. Market risk premium: In the same fashion that we estimate the risk free rate benchmark is 10y UST Bond Interest Rate, so we used the difference of average returns between LT UST Bonds and SP 500 for the period 1926-87, the longest history available we have. We are aware of the imperfection of using historical rates of return. †¢Average corporate tax rate: We assume that the rate calculated as the average rate app lied to 1987 is a reasonable proxy for future tax rate. Tax rate is applicable across divisions. †¢Cost of Debt: SP 500 is also considered to be best proxy available for market portfolio. We also assumed no financial distress, which is reasonable because firm has real assets and overhead cost is 3% of revenue. Competitors and divisions have the same debt beta as Marriott: †¢Beta equity of each division: it has been assumed that the unlevered beta equity of each division is comparable to the average of unlevered beta equity of the comparables identified in the case for each relevant business segment. †¢Weighted average of book value of assets was used to determine the unlevered beta of Contract Division, we assumed this to be a reasonable proxy instead of market value of assets. How to cite Marriott Case Hbs, Papers

Entrepreneurship in a Context for Leadership- myassignmenthelp.com

Question: Discuss about theEntrepreneurship in a Context for Strategy Leadership. Answer: Entrepreneurship: Entrepreneurship is the act of utilizing a persons own capacities in order to create a new venture or business on ones own. Entrepreneurs start a business or indulge in their passions in place of functioning for anybody else in the business. Entrepreneurs need to tackle a large number of obstacles and fears as their lives are not easy. They have to tackle several challenges in order to make their endeavours a success. The first and foremost crucial factor for the entrepreneurial success is that of interest (Drucker, 2014). As the concept of entrepreneurship is concerned with the performance rather than the time given to a particular work, it is necessary for an entrepreneur to work in those specific areas which interest him or her. In case this is not done, it will not be possible to manage a proper level of work ethic and there is a high probability of failure. The interests of the entrepreneurs must also coincide with the vision for the growth of the company. In case the day to day activities are of interest to the entrepreneur, it is not enough for success unless this vision can be converted to that of growth and expansion. Entrepreneurs vision must be strong enough to be communicated to the investors and employees alike. The effective skills and the capability of the entrepreneurs to don many hats contribute to the success and the overall reputation of his or her company. It is crucial for an entrepreneur to invest in his or her company even it is intangible (Kirzner, 2015). A brief history of the Uber Company: The company was created in the year 2009. It was founded by Garrett Camp and Travis Kalanick. The company is basically based in the country of San Francisco and it was basically a private car service for the executives. The communication process which was used in this case was mainly brought about by emails and code features. The organisational growth was considerable in the year 2010. The concept of the advancement of technology was used to bring passengers as well as drivers together for the successful completion of the vision of the organisation. It was considered that Uber was the best way in which the passengers would get around. After a person books a car service, it comes straightaway to the person and the payment mode was completely cashless which was later modified to a number of other options (Dagnino, 2016). On a proper study it was found that the company targeted a specific segment of the customers and included those people who did not own a car. Apart from that it is found that there is a certain segment of people who do not drive a car themselves to those places who need to go. This segment of the population was also targeted. Certain people on the other hand are interested in travelling in style and they want to be treated as special and immensely important people. They also require a sort of cost efficient and a method of plying a suitable cab at their personal doorsteps. The connection with the customers is built due to the social media and the technological development. Therefore it is a suitable and has been an effective method to help the customers commute effectively (Arendt, 2017). Challenges faced by the company: There have been several challenges which have been faced by the company which consist of leadership issues, issues with how the drivers behave and the dissatisfaction issues of the drivers. The issue with the inherent leadership of the organisation is that of autocratic leadership, where the orders had been provided to the leaders of the organisation. It is not ideal for the workers to work in a scenario where they feel a sort of pressure from the upper management and therefore it needs to be considered at all costs (Denning, 2015). There had been several reports of the drivers behaving rudely or disrespectfully with the customers or the riders. There have been reports where the drivers have molested or caused harm to the passengers. Often the passengers have not been able to reach their respective destinations. This is a matter of severe concern with the company as the reliability can be lost due to such issues. There have been reports of the drivers remaining dissatisfied with the company as there is no existence of any tipping service which has been removed from the company policies which led the drivers to be dissatisfied and irritated. In case both sides of the company are happy, it is bound to grow more and succeed thereby increasing the overall profit shares. In case the company learns from its mistakes there is no stopping it (Dagnino, 2016). Entrepreneurial schools of thought: There are two basic views of entrepreneurship which relates to the success or the failure in the existing entrepreneurial business in the control locus. The macro view of entrepreneurship comprises the environmental school of thought, the financial or the capital school of thought and the displacement school of thought. The first school of thought considers the external factors which affect the lives of the entrepreneurs and the forces affecting it can be both positive and negative. The financial school of thought comprises of the capital seeking procedure. The displacement school of thought focuses on the negative sides of the existence of a group and understands the factors which can cause someone to feel out of place and even slow his or her development. The micro view of entrepreneurship refers to the school of thought which are specific to the concept of the internal locus of control and the potential entrepreneur has the capability to direct or even adjust the outcome of each of the major influences. Examples of issues in the organisation: From the study of the organisation it has been seen that the stupendous growth of the organisation had not been foreseen at any particular time. The company which started from very meagre means has grown to be one of the largest in the recent times and that too in a very short span of time. The company also believed in the concept of great businesses solving their particular problems. This is because of the fact that in order to reach a stage of global domination the companies have to keep solving their problems. Another reason the company has grown to be huge in the recent years is that they offer both convenience as well as price to their customers. The ways and means by which the Uber cars take their customers is also reliable. It is therefore a convenient alternative to the busy lifestyles of the working generation. The users should also look to solve their problems in the recent times in order to clear their image and become much more successful. The company also does not believe in hiding its mistakes. It believes in solving the issues which have arisen in the company. It always tries to improve its conditions and make it much more clean in terms of image and growth. The company believes that roadblocks might slow them down but they cannot stop them from being successful. In order to expand the company needs to ensure that the issues relating to have been solved at the starting stages itself. From the study of the overall ideals of the company it can be concluded that they follow both from macro as well as micro entrepreneurial schools of thought. Recommendations for improvement: Notwithstanding the issues that have been faced by Uber, it is thought to be safer than most rides and taxi services and an efficient system for the concept of ride sharing has also been created which is existent even at this present stage. The company can appoint and consider newer and much more effective leaders for the important posts in the company. This is due to the fact that the autocratic style of leadership has been found to be unsuccessful in the recent times. Along with the needs to change the structure of the company the type of leaders also need to change. There also needs to be a valid focus on the goodwill marketing wherein the organisation needs to cater to the issues which it has been facing in the recent times. In case customers are facing severe issues and need rides at any cost Uber can introduce the concept of free rides in order to ensure that the rides are beneficial to the customers and the company also gains in goodwill. This will ultimately amount to the overall increase in the growth of the company. The riders should also be allowed to utilize their own data. The company needs to fix the leadership as also the business issues it has been facing in the recent times. The concerns of each of the stakeholders need to considered so that the company is able to fulfil the goals of expansion which it has set for itself. It is to be noted that the company needs to understand the factors which will help it reach a stage of global importance and domination. References and Bibliography: Arendt, H. (2017).ber die Revolution. Piper ebooks. Dagnino, E. (2016). Uber law: prospettive giuslavoristiche sulla sharing/on-demand economy.Diritto delle relazioni industriali,26(1), 137-163. Denning, S. (2015). New lessons for leaders about continuous innovation.Strategy Leadership,43(1), 11-15. Drucker, P. (2014).Innovation and entrepreneurship. Routledge. Harvey, J., Smith, A., Golightly, D. (2018). Online Technology as a Driver of Sharing.The Rise of the Sharing Economy: Exploring the Challenges and Opportunities of Collaborative Consumption, 75. Kirzner, I. M. (2015).Competition and entrepreneurship. University of Chicago press. Santos, F. M. (2012). A positive theory of social entrepreneurship.Journal of business ethics,111(3), 335-351. Thai, M. T. T., Turkina, E. (2014). Macro-level determinants of formal entrepreneurship versus informal entrepreneurship.Journal of Business Venturing,29(4), 490-510.

Masters in Project Management Research Proposal free essay sample

The proposal should include: †¢ what you plan to do in your research †¢ why this work is necessary or desirable †¢ specifications for how you will do it †¢ a persuasive argument that you are the right person for the position Your Supervisor will have the expert knowledge about your task, and will be best able to judge the merits of your objectives and plan of attack. The evaluators will be less well informed about the background and motivation of your research, so you will have to provide information that will help them put the details in perspective.No two proposals are alike, and there is no general recipe which, if followed to the letter, will guarantee a good proposal. Most proposals do share—or can share—a few common structural features, however. These are indicated by the headings below. A good proposal includes either a hypothesis (keep in mind that a hypothesis is not a foregone conclusion but a testable scientific idea) or a problem statement (a recognized problem in need of a solution). We will write a custom essay sample on Masters in Project Management Research Proposal or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It is important to be realistic about the impact of your research project.While it may be unlikely that your project will result in a major breakthrough, indicate how it is a part of a research plan to address a larger scientific question. Do not repeat sections of your proposal as it can make reading a proposal difficult. If a point is important, revisit it, but not in a repetitious manner. and provide yourself with enough time prior to the application/proposal deadline to prepare a quality product. Have a friend or family member read the proposal to determine if it is easily understood, well written and convincing.Please spell check your final draft and review your final copy for content and presentation. Use an easily read font like Arial 10 point, being sure to include space between paragraphs and sections. Meet the application/proposal deadline as requests for extension of the deadline and/or failure to meet the deadline may be interpreted as a lack of ability on your part to get a project completed in a timely fashion. A good proposal will anticipate and answer questions that an informed (and somewhat sceptical) person might ask.A proposal of between 5 and 10 pages, carefully thought out and precisely worded, should be sufficient to make all the important points. To get an idea of the end product of such a research undertaking, it is advised that the learner has a look at completed dissertations and /or theses that are available in the university library. p. 2 Research Proposal Full Name Surname: Student number: Qualification: Email: Contact Numbers: (W) (C) Supervisor: 1. Project Title The title should be short but descriptive enough so that anyone reading it would know what to expect. 2. IntroductionThe Introduction supplies sufficient background information to allow the reader to understand and evaluate the proposal of your work without needing to refer to previous publications on the topic. Choose references carefully to provide the most important background information. The following questions should be addressed in this section: †¢ What is the general technical/application area in which you will be working? (for example Project Management, Risk Management, Information Security, E-Commerce, IT management). Reference should be made to any standards or de facto theories in the area.What is the general problem that you are trying to solve, and how did the problem arise? Provide proof that this is indeed a problem by using references. This should lead to the more detailed problem statement in the next section. Why is its solution interesting or worthwhile? What benefits would there be to solving this problem? What value would it have to the specific research community, the industry, society, South Africa or the world? What will be the contribution or significance of your research if it is successful? How will it contribute to the existing body of knowledge in this field?Why should anyone be interested in your research? †¢ †¢ †¢ p. 3 In this section you should motivate why this would be a good research project. 3. Review of Literature In this section you should show where in current literature the problem was first recognised as well as what serves as the foundation for your research proposal. The more references you can find that relate to the given problem statement, the more credibility it will have. This will give the reader an idea whether you have done your â€Å"homework† and know enough about the topic to start with the research project. A basic understanding of the field is required.Any fundamental theories relating to your research proposal should also be stated, for example, if your research topic is project management, reference should be made to current standards, best practices and any de facto documents. 4. Project Description This part of your proposal may include the following: a. Problem statement What is the problem for which a solution is being sought? It is very important that a real-world problem must exists for which there is currently no effective solution. It should be an academic problem, i. e. one that requires academic research to be performed.Industry problems seldom make good academic research problems. Trying to solve a problem a specific organisation is experiencing has too narrow focus. The problem should be wide enough to apply to a whole industry. The project goal would be to solve the problem. If possible, refer to other research that have been done in this area. The solution must have both academic, social and practical value. End this section of with a single statement that is the problem statement. Make this statement bold so that it stands out. p. 4 b. Project scope A scope statement is a paragraph used to develop and confirm a common understanding of the project scope.

8 Activities to Increase Emotional Vocabulary

8 Activities to Increase Emotional Vocabulary An emotional vocabulary is the collection of words your child uses to express their feelings and reactions to events. Even before they learned to talk, your child was beginning to build an emotional vocabulary. When your child started turning over and couldn’t get from their stomach to their back, you may have responded to their cries with Oh, that’s so frustrating for you! When your child breaks a favorite toy and begins to cry, you probably tell them I understand that you’re sad. And when your child doesn’t get what they want and stomps and yells at you, you likely respond with an I know you’re mad at me. Why is an Emotional Vocabulary Important? Many parents provide words for the strong and common emotions children feel, like happiness, sadness, and anger, but we sometimes overlook the fact that there’s a large and varied vocabulary of emotion. Children need a larger pool of words to draw on to be able to express all their emotions as well as to be able to read the cues that indicate other people’s feelings. Being able to sense and understand the emotions of others is a big part of a child’s social development and social success. If your child can read the emotional cues to get a sense of how other children are responding to their attempts to connect with them, they are more able to respond appropriately. This is the foundation on which the ability to create and maintain friendships is built upon. How Do Kids Develop Emotional Literacy? Together, the skills of identifying their emotions and reading and responding to other people’s emotions combine to create a skill known as emotional intelligence or emotional literacy. It would be nice if the ability to read cues and to respond in a socially appropriate manner was innate, but it’s not. Kids develop emotional literacy by social experience and by being taught. Some children, like children with Autistic Spectrum Disorders, have more difficulty than others learning emotions and need more extensive teaching than others. Activities to Increase Emotional Vocabulary Kids learn via teaching, but they also absorb the lessons that are going on around them. It’s a good idea to begin to talk through your own feelings and reactions with a variety of different words. For example, instead of swearing at the computer screen when it freezes, take a cleansing breath and say, I’m so frustrated this keeps happening. I’m worried I won’t get my work done on time if I can’t fix it. The Goal  of Activities:  To help your child identify and name a variety of different emotions.Skills Targeted:  Emotional intelligence, verbal communication,  social skills. There are many other ways you can help your child increase their emotional literacy. Make a Big List of Feelings:  Grab a really big piece of paper and a marker and sit down with your child to brainstorm all the feelings you can think of. Your list may include emotions your child doesn’t recognize, but that’s okay. Make the face that goes with the feeling and explain a situation in which that feeling may come up.Add feeling noises to your Big List of Feelings: Children don’t always know how to identify an emotion by word, but they may know the sounds that accompany them. For example, your child may not know the word worried, but they may know that uh-oh or the sound of air sucked in through your teeth goes with that same feeling. Try to stump your child by providing a sound that can be paired with a number of emotions, like a sigh that is associated with fatigued, sad, frustrated and irritated.Read books: Literacy and emotional literacy don’t have to be taught separately. There are many great books that specifically explore emotions, bu t you can find feelings in any story you read. When you’re reading to your child, ask them to help you figure out what the main character is feeling in certain situations. Use the pictures and the plot as clues to help. Play Emotional Charades: This is a fun game to play with your child. One of you picks an emotion to convey to the other, using either your whole body or just your face. If your child is having trouble making sense of the faces, give them a mirror, ask them to make the same face as you and look in the mirror. They may be able to see the feeling on their face better than on yours.Change up the Happy and You Know It Song: Add new verses to this familiar song, using new emotions. For example, try If you’re agreeable, and you know it say okay.Make a Feelings Collage: Give your child some paper, scissors, glue, and old magazines. You can either provide a list of feelings that they need to find faces to match or have them make a collage of faces and tell you what the emotions are. When theyre done, label the emotions and hang the collage somewhere where it can be easily accessed.Keep a Feelings Journal: A feelings journal is a good way for your child to keep track of their emotions a nd the situations in which they feel them. Role-play and review: One of the best ways to increase emotional vocabulary is to role-play or to create social narratives. Come up with scenarios your child might encounter and have them act out how they might act and react. Alongside role-playing comes reviewing. Go over situations that didn’t end well, examine the emotions of the people involved, and talk with your child about what could have been done differently. Resources and Further Reading Aliki. Feelings. Springbourne, 1997.Bang, Molly. When Sophie Gets Angry⠁  - Really, Really Angry. CNIB, 2013.Cain, Janan. The Way I Feel. Scholastic, 2001.Crary, Elizabeth, and Jean Whitney. Im Excited. Parenting, 1994.Crary, Elizabeth, and Jean Whitney. Im Frustrated. Parenting, 1992.Crary, Elizabeth, and Jean Whitney. Im Furious. Parenting, 1994.Crary, Elizabeth, and Jean Whitney. Im Mad. Parenting, 1993.Crary, Elizabeth, and Jean Whitney. Im Proud. Parenting, 1992.Crary, Elizabeth, and Jean Whitney. Im Scared. Parenting, 1994.Curtis, Jamie Lee, and Laura Cornell. Today I Feel Silly Other Moods That Make My Day. HarperCollins, 2012.Emberley, Ed, and Anne Miranda. Glad Monster, Sad Monster: A Book about Feelings. LB Kids, 2008.Geisel, Theodor Seuss. My Many Colored Days. Knopf, 1998.Kaiser, Cecily, and Cary Pillo. If Youre Angry and You Know It! Scholastic/Cartwheel, 2005.Moser, Adolph, and Melton David. Dont Feed the Monster on Tuesdays! Landmark Editions, Inc., 1991.Simoneau, D. K., and Brad Cornelius. Were Having a Tuesday. AC Publications Group, 2006.

Applicability of Alternate Minimum Tax

Applicability of Alternate Minimum Tax All the non-corporate income tax payers are supposed to be paying AMT. The rule for applicability is that the AMT is payable if: Tax under normal Provisions (as per income tax act) is less than AMT. In this case the adjusted total income is considered to be the total income and tax liability is calculated over it. The other rule mentions that the AMT will not be paid by the individual, HUF (Hindu Undivided Family), AOP (Association of Persons) and Artificial Juridical Person if the Adjusted Total Income is not greater than Rs.20 lakhs. Non-Applicability to LLP’s incorporated under foreign Law Limited Liability Partnerships incorporated under foreign laws are not considered â€Å"Firm† as per the definition given under section 2(23) and are considered under the definition given in section 2(17). So, the provisions of AMT are not applicable to such LLPs. Applicability to foreign firms not incorporated under any Foreign Law Foreign firms which are not incorporated as pe r the foreign country law but fits into the definition of â€Å"firm† as per Indian Partnership Act,1932 is considered firm as under section 2(23). So, the provisions of AMT as per chapter XII-BA are applicable to such firms. The Alternate minimum tax liability is as per section 115JC for the income to be chargeable to tax under India. Rate The applicable rate of AMT is 18.5%, which is calculated on Adjusted Total Income. Further, the final AMT is calculated by calculating education and secondary education cess of 3% on 18.5% and surcharge if applicable. Surcharge is not applicable for LLP. A Table containing steps is included in annexure along with an illustration. The steps and illustration are given in Annexure- I and II respectively. As per the provisions of AMT, the final tax liability for the non-corporate assessees is greater of the tax as per normal provisions and Alternate Minimum Tax (Tax @ 18.5 percent (plus secondary and education cess as applicable) on adjusted t otal Income). Alternate Minimum Tax Credit Tax credit is available against future tax liability if AMT is greater than tax under normal provisions. The credit amount is the difference between the two and can be adjusted or carried forward for ten years from the year in which the credit was earned. From the assessment year 2018-19, the period will be fifteen years.The section applicable is 115JD. Set-off is available when the tax as per normal provision for LLP is more than AMT. The amount of set-off is limited to amount paid in excess of AMT. However, the rules regarding carry forward or set-off are not applicable for education and secondary education cess. Further, if the credit is not utilised within ten years then it can’t be availed later on. Interest is not paid on tax credit availed. Application of other Provisions of this Act The provisions are given under section 115JE and are applicable to the non-corporate assessee to whom AMT provisions apply. This section includes advance tax, interest as per sections 234A,234B and 234C penalty. Key points with respect to the New Chapter XII-BA

Dubai Financial Market Essay Example | Topics and Well Written Essays - 1750 words

Dubai Financial Market - Essay Example Dubai Financial Market (DFM) is one of the few stock exchanges of UAE which was established as a public institution on March 26, 2000 (Dubai Financial Market, 2013a). It has its own independent body which was formed as a result of a resolution passed by the Ministry of Economy (MOE) number 14 2000 (Dubai Financial Market, 2013a). It operates as secondary market responsible for trading of securities, bonds, units of investment fund, any other financial instrument which is issued by the public joint stock companies, Federal government or any other local government & public institutions of the country. DFM was established as a joint stock company with a paid up capital 8 billion Dirham with a par value of 1.6 per share. The first IPO by DFM had resulted in more than 8 billion Dirham. The main objective of DFM is to make it a world class market place and provide the stakeholders with innovative facilities in trading, settlement, depositary of securities and clearing in an efficient metho d. Some of the important market values of DFM are efficiency, transparency, innovation, confidentiality and integrity. The existence of a strong investment market in UAE has attracted several potential investors and is considered as one of the most potential investment hubs of the world. As per a survey conducted by the Economic Department of Dubai 28 percent of the surveyed respondents had claimed Dubai to the most lucrative investment destinations of the world (DED, 2012). Mission and Objectives of DFM The mission and the objective of DFM are to create a fair, transparent and efficient liquid market for smooth trading purposes. It helps in provident various investment opportunities through optimum utilization of resources. The management of DFM provides opportunities for investment purposes in securities markets which would serve for the best interest of the Dubai economy. It also helps in facilitating liquidation of funds invested in securities markets which ensures the smooth interaction between demand and supply by developing principles of fair dealing. One of the main objectives is to arrange for transfer of ownership of securities through deposit, transfer and clearing center within an integrated system which enables fast and correct transfer of ownership of shares. Operations of DFM DFM was initially operated by the government of UAE however, in the year 2006 DFM had turned into a public joint stock company through an Initial Public Offering (IPO) which led to sale of 20 perc ent of the shares to the public and the remaining 80 percent were subscribed by Bourse Dubai. Figure 2: Organizational Hierarchy of DFM (Source: Dubai Financial Market, 2013c) Registrar of Listed Public Shareholding Company The registrar of the issuer company are an essential element of the securities market and the first necessary step for the investor is to submit the

Folk Music Research Paper Example | Topics and Well Written Essays - 1000 words

Folk Music - Research Paper Example Folk music has existed for hundreds-thousands of years, even though the word only got to be used in the late 19th century. This music was popular especially during the romantic period. Beethoven and Josef Haydn were two popular composers who made arrangements of folk music. Many people also composed dances that would accompany this precious music. Fork music got to its peak in the 1950’s through help from Jimmy Rodgers. This style lasted with popularity until the mid sixties when ‘folk rock’ became popular and the Beatles mania era swept the world. Folk rock was followed by ‘protest music’ where the singers sang the opposite of ethnicity, which was an essential part of folk music and thus, protest music is the complete contrast of true folk music. Folk music revival had completely died by 1975 and was not rejuvenated until late 1990s though the revival contained lesser extent than the original music. While not in a peak revival today, folk music is st ill popular. It is not anticipated to disappear anytime soon given the number of years it had survived. It was transmitted through oral tradition. In the early days (before the twentieth century), factory and farm workers were usually illiterate, so they acquired songs by memorizing them. This was not mediated by books, transmitted media or recorded. The music was usually related to national culture. It was particularly social and from a particular culture or region. Folk songs normally commemorated personal and historical events. Particular songs are used to celebrate important event and days e.g. Christmas, Easter or during weddings and/or funerals (Kip pg 34). These events brought children and nonprofessional singers together to participate in a public arena thus creating emotional bonding. Another characteristic is that it has been performed by custom over quite a