Financial Prospectus Content Paper Essay Example for Free

Financial Prospectus Content Paper Essay Prepare the first seven components of your venture’s Financial Prospectus. The Financial Prospectus must include the information you provided in the individual assignments from Week One and Two, revised as necessary based on material covered in subsequent workshops and organized with new material added as necessary. Post your assignment as a Microsoft ® Word attachment in APA format. Every freshman should understand and realize that the freshman 15 does in fact exist. It is important that everyone take the necessary steps to ensure that they are getting proper nutrition during their first year in college. While it might be tempting to pile on some fries for dinner every night, youll pay for it in the long run. This work comprises FIN 375 Week 4 Financial Prospectus Content Paper Business General Business Individual Financial Prospectus Content Paper Resources: Final Prospectus Expectations Prepare the first seven components of your venture’s Financial Prospectus. The Financial Prospectus must include the information you provided in the individual assignments from Week One and Two, revised as necessary based on material covered in subsequent workshops and organized with new material  added as necessary. Post your assignment as a Microsoft ® Word attachment in APA format. Every freshman should understand and realize that the freshman 15 does in fact exist. It is important that everyone take the necessary steps to ensure that they are getting proper nutrition during their first year in college. While it might be tempting to pile on some fries for dinner every night, youll pay for it in th A+ tutorial you will find here https://bitly.com/1wySU49 Every freshman should understand and realize that the freshman 15 does in fact exist. It is important that everyone take the necessary steps to ensure that they are getting proper nutrition during their first year in college. While it might be tempting to pile on some fries for dinner every night, youll pay for it in the long run. Business General Business Individual Financial Prospectus Content Paper Resources: Final Prospectus Expectations Prepare the first seven components of your venture’s Financial Prospectus. The Financial Prospectus must include the information you provided in the individual assignments from Week One and Two, revised as necessary based on material covered in subsequent workshops and organized with new material added as necessary. Post your assignment as a Microsoft ® Word attachment in APA format.

Look at the beginning of act two Essay Example for Free

Look at the beginning of act two Essay And doesnt eat herself since she has presumably eaten with the children. In those times, (1692) wives were expected to stay at home, clean the house, cook the food, take care of the children, and obey their husbands. They were also expected to be good Christians, be calm, quiet etc. To express these qualities above, Elizabeth should probably dress in quite plain, conservative clothes, and walk straight, eyes slightly lowered, arms at the sides, and talk quietly. He then compliments her about the rabbit, Its well seasoned, and she receives it, blushing with pleasure. She then adds, that she took great care. Again, both are trying hard to be friendly to each other, to try to avoid argument. It is however; ironic that Proctor complimented her on the seasoning on the rabbit, since he seasoned it himself. After that, he talks about the farm and says with a grin I mean to please you Elizabeth. And she answers, I know it John. However, before she answers, she pauses, and finds it hard to say. This means that she might not think he honestly wants to please her, or make their marriage work. Since this is quite a dramatic moment, I think the lighting should focus on her at this point, and if present the orchestra should be silent to emphasize her hesitation. The author then repeats Elizabeths lack of love and coldness when John proctor gets up and kisses her, and then returns disappointed. This is so that if the audience misses the pause, thus showing her disbelief and distrust in him, they will see her total lack in passion and love when John is rejected from Elizabeth,. He then asks her for some cider, as gently as he can, since he feels she is hurt, and doesnt want to make her feel any worse. He then says, Its winter in here yet, which might be a hint for her to warm her heart and become more loving. Yet since her badly wants to be nice, he asks her on type of date, to walk across the farm. They both get up, and he walks to the door, and he seems quite happy. She however, isnt. He seems to notice this, and asks her if she is sad again. As they say these last lines, I think that the sense of their separation should be emphasised be lighting. Ie, the lights, which have been directed at both of them together so far, should split, a light on each character. This would subtly hint to the audience that although they are desperately striving to make their marriage work, it cant yet because there is a distance between them, and theyre not on the same wavelength. The audience can also see this when John seems deep in his thoughts about spring, flowers, and Massachusetts, while Elizabeth seems to worry about something. She answers to his question, Are you sad again and immediately justifies her answer when she says that she thought he had gone to Salem since he was back so late. This could show the audience that she thought he had gone to see Abigail, because they know Abigail lives in Salem from what they saw in act one. He knows that she thought of him going to see Abigail, so he says he has no business in Salem. This shows the audience, that although he is eager to let go of the past, (which is also shown in act one I will cut my hand off before I ever reach for you (Abigail) again. ) Elizabeth has not yet forgiven him, which he accuses her of later. You forgive nothing and forget nothin! She then admits to having let Mary go to Salem and this makes him quite angry. However, when she carries on he starts shouting at her holding back a full condemnation of her and says that she should control her servants better. Perhaps he also thinks that she should have controlled Abigail, so he wouldnt have had an affair with her. Basically, in this part of Act Two, the author shows that the strain in their relationship was caused by his affair with Abigail, which has resulted with her distrust. Miller also shows that Proctor quickly raises his temper, which could also strain a relationship. Proctor only seems to have raised his temper when Abigail and his affair with her are mentioned. This could be because he feels guilty. Knowing what parts of the act give hints to their difficult relationship helps tremendously when the play is performed, since the director knows what parts of the act he must emphasise. He can do that by using different lighting, sound effects, dramatic music from an orchestra, acting, and pauses. By Karina Wortelboer Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE Arthur Miller section.

Introduction To Sports Among Women Spectators In India Media Essay

Introduction To Sports Among Women Spectators In India Media Essay Watching sport represents a predominant form of leisure behavior in todays society. Large numbers of people attend sporting events and think of themselves as sport fans. Traditionally, participation in sports as a spectator has been a male dominated activity. Women differ from men on various parameters such as physicality, psychographics, behavioral parameters, consumer behavior and consumption experiences. The differences between men and women on these parameters make it difficult for marketers to target them together as a unified segment. But, irrespective of the differences between men and women on various parameters, sports goods manufacturers and sports events marketers have pursued traditional male-oriented marketing policies. But in recent times due to a radical change in social and financial status of women, there has been an increased participation in and consumption of sports by women. This has caused marketers to add a female- oriented focus to their strategies. The recent introduction of female commentators in cricket to strategies to attract women in the latest IPL edition with attractive offers shows a definite change in the marketing strategies of media and marketing professionals. Also more and more women are turning to sports for recreational purpose. With the sports industry turning more to women consumers, it has become necessary for marketers to research womens consumption behavior and consumption experiences to come up with gender specific strategies. Hence, this study would be to understand how the Indian woman consumes sports and the level of involvement or motivation achieved set in the context of the Indian society. Literature Review Sports as a genre is present in everybodys life, be it in terms of participation or watching. Sports has the power to inspire, build communities, to make people cry, laugh. In the hands of an ingenious marketer sports has an almost enigmatic pull towards the target consumer. Traditionally, sports participation and consumption was viewed to be masculine or a part of male dominion. However, with increasing number of women who have found economic and social independence the domain of sports is no longer completely a male bastion. Increasingly women are breaking the stereotypes of passivity and are actively consuming and participating in sports. Major strides have been made over the past few years in providing participation opportunities for girls and women in sports. Media visibility has increased for a number of women players both internationally and nationally like Venus Williams, Anna Kounikova or Sania Mirza. The consumption of sports and leisure by men and women is dependent on a lot of factors such as prevalent societal norms, beliefs and attitudes. In the context of sports and leisure, what is associated with men and masculinity is valued over what is associated with women and femininity. Hence, it is important to explore the underlying societal norms to understand the consumption patterns. A post modernistic approach In a postmodern society, the prevalent ideology is that what is considered masculine or feminine will break down as the boundaries between masculinity and femininity continue to blur and the different forms of gender multiply. Activities that conventionally convey clear meanings, such as combat conveying masculinity and gracefulness conveying femininity, will no longer be obvious. A postmodern vision of these categories blurring into one should be liberating because it lessens the likelihood of gender being used as a way to categorize. In the context of sports and leisure, this suggests that gender is less likely to influence participation or consumption of sports previously marked as masculine or feminine. Analysing literature would help us to understand historical trends of sports and leisure participation by gender in various scenarios. Home Vs Workplace Women have been historically been associated with activities conducted at home such as gardening, sewing and cooking, due to recent advancements in technology the efforts required for the chores have reduced immensely but the modern society still views it as a womans job. Unskilled tasks such as cleaning, eating, cooking, sleeping, leisure and child rearing were performed at home, Men were connected with activities in the workplace and less connected with the ones at home. Home for men essentially was a place to recoup from a hard days work. A similar separation exists in sports and leisure today. ( McGinnis, Chun, and McQuillan, 2003) According to Hendersons review (1990), leisure for women tends to consist of activities which is near or at home because it can be infused with household chores and because few opportunities for leisure exist outside the home. According to another research by Kane, It was argued that women tend to define themselves in terms of human relationships, hence, they consume within the context of home and family. The complexity increases for a career woman as then the leisure is dependent on family environments, especially children. Women use home as a primary place and means for leisure. And in case a leisure opportunity comes along which is out of home, then it is sort of offered in such a way as to not hamper household responsibilities. In this case, leisure itself can be seen as constraining, as it reinforces gender appropriateness (Shaw 1994). While it appears that leisure opportunities certainly exist for women outside the home, the literature suggests that leisure for women is still largely perceived as a secondary concern. Opportunities for leisure exist, but only when other duties and other concerns have been addressed first. Expectations of a women and her role in society appear to transcend the opportunities outside the home. Men face the same constraint, but can define what is expected of them more so than women. Spectatorship and Leisure time It is a common point of contention that men and women both enjoy watching sports on television, but their preferences differ, as men tend to prefer more competitive and aggressive sports as compared to women. We find evidences of media reinforcement of the gendered consumption patterns, for example NBC positioned the Olympics with storylines resembling soap operas. Men have generally dominated the consumption of organised sports. But the Spectator Gender Gap is reducing with more women watching conventionally male sports such as Golf, football. However, research suggests that attempts by women to increase their sports consumption in a way threatens the male dominion as sports is viewed as a masculine domain where men are allowed to bond with one another. Women entering this domain are seen as upsetting this setting (McGinnis, Chun, and McQuillan, 2003). Leisure is another area where the gender gap exists, women in general experience a lesser amount of free time as compared to men as their part of their free time is generally spent doing housework or taking care of children. Men can experience larger blocks of free time without worrying about other commitments. Role of the Indian Media Women are traditionally not encouraged to indulge in sports. Sports are men oriented, where men play and women watch. It is clearly visible in the Indian media too, be it films or advertisements. For instance, in an advertisement of Clinic Plus shampoo, a coach of a boys cricket team in school discourages a girl to play with the team by fearing, when he says, Baal kharab ho jayege (your hair will get damaged if you will play cricket in sun). Another advertisement of Tata sky featuring Gul Panag and Aamir Khan, she has been portrayed as a woman for whom sports is a nuisance. During the cricket matches and sports world cups, time and again, many news channels have shown how women have to sacrifice watching their saas-bahu dramas and newspapers also write about falling TRPs of TV serial and how these matches are a jeremiad for women. Because in the family, their husbands, brothers and father are glued tothe sports channel and the power of attorney for the remote control is transferred t o men for those few days when the matches are held. In addition, Some of the commonly held beliefs associated with female fans and women sports are explored below- Women are not interested in sports fact or fiction In terms of viewership, over 2.2 crore women watched the 2003 World Cup in India alone. Female viewership comprised an astounding 46% of the total World Cup viewing population and TRPS for female viewership for India matches climbed to a phenomenal 9.8, significantly higher than the 3.9 registered during the Nat West Trophy final played at Lords in June 2002(ESPNSTAR, Interesting history of womens cricket in India).The Twenty20 World Cup had a strong, growing female audience for the sport and its not restricted to cricket alone. There is an overall 54 per cent increase in ratings for the three tennis grand slams-especially with regard to womens viewership where the growth has been significant. To reach out to this diverse market, most channels are developing a strong programming line-up that is a healthy mix of acquired and original content. (The financial express, Cashing in on sports). For the first time, a non-cricketing glamorous female host Mandira Bedi was brought in as a studio anchor. The experience was something which shocked cricket purists. But with a mix of elements for the purist as well as the novice and the fence sitters, Extraaa Innings combined academic cricket with mainstream entertainment like never before. This resulted in a whopping 50% increase in average rating of Indian matches and 37% increase in the rating of non-India matches, reached out to a record 78% of the Indian audiences in CS homes. More interestingly the female gross reach grew by an unprecedented 261%. Mandira Bedi became a celebrity and was soon a part of life even for women in conservative Indian households. Purists like Wisden, which condemned the experiment with women anchors during the ICC Champions Trophy in Colombo in September 2002, were forced to retreat. Women joined betting circles and housewives in Delhi and Ahmedabad formed clubs to enjoy the sport (ESPNSTAR, Interesting history of womens cricket in India). In terms of playing the sport, there has been significant increase in the number of professional sportswomen in variety of sports including Badminton, tennis, hockey, golf and athletics. The increase in the number of tournaments is a testament to that fact, recently an international basketball tournament the FIBA Asia Womens Championship was hosted by Chennai, Featuring the best players and top teams from across the continent, the tournament was a success. (Deccan Chronicle, India Wakes up to alternative sports) Female sports fans are different from male sports fans -fact or fiction? According to a research by Sargent, Zillmann, and Weaver, men and women enjoy distinctly different types of sports. Their findings revealed that males preferred watching combative sports on television whereas females were partial to stylistic sports. Sport socialization research examines the impact that environmental forces have on children and individuals from two different perspectives: socialization into sport and socialization through sport. This line of inquiry indicates that people are attracted to sport due to formal channels (i.e., parents, peers, coaches, mass media, teachers) and informal channels (i.e., school, church, and community-based programs), as researched by Kenyon McPherson . Media plays a primary role for introducing new teams and sport leagues to adults. According to a study by Bruce, Institutional, social, and familial contexts also shape viewers interpretations of sports broadcasts. He also found that women did not display strong loyalties to specific womens sports teams that are common with men and their favorite mens teams. This was attributed to the extensive sports information and media attention given to mens sports. In a study on cognitive development and socialization by James, in the initial development of team loyalty, it was found that children form preferences for sports teams early in life. Results of this study revealed and that the gender stereotype associating sports with males was prevalent among children and that fathers were the most influential socializing agent in introducing children to sports teams. In a study on experiences and effects of viewing televised sports, Gantz and Wenner found differences based on gender for 9 of the 15 motivation items examined; however, these differences were not dramatic. Most notable among their findings, women were more likely to watch televised sports for companionship and sharing the experience with family and friends whereas men watched to unwind and become wrapped up in the excitement and drama of the game. Men invested more time in reading, listening, watching, and talking about sports and they were more likely to experience emotional fluctuations from watching sports. Men also tend to display a fan behavior and identify more strongly as a fan according to Dietz-Uhler. However, an equal number of male and female college students considered themselves to be sport fans. Females reported being fans because they attended and watched sporting events with family and friends while males were more likely to consider themselves fans because they played sports and wanted to acquire sports information. Measuring Spectator Motives Various methods to research on sport spectators have been developed which utilizes a number of scales to assess the psychological motives related to attendance, media usage and interest at live sporting events. 1) One of the first methods was developed by Wann. He designed a comprehensive scale to measure eight factors observed to influence behavior; eustress, self-esteem, escape, entertainment, economic (gambling), aesthetic, group affiliation, and family. 2) Second method developed by Trail and James was the Motivation Scale for Sport Consumption (MSSC) to examine ten aspects of spectator behavior: achievement, acquisition of knowledge, aesthetics, drama, escape, family, physical attraction, physical skills of players, and social interaction. 3) Thirdly, McDonald, Milne and Hong (2002) utilized a scale to measure spectator and sport participant motives related to: risk-taking, stress reduction, aggression, affiliation, social facilitation, self-esteem, competition, achievement, skill mastery, aesthetics, value development, and self-actualization. Research Methodology Conceptual Framework or Problem Definition Till now through an extensive analysis of literature we have seen that men and women both consume sports in their own way and one cannot generalize the consumption pattern of women. The motivations and the level of involvement for women depend on a lot of factors. Research Gap : There is no study done in the Indian context to understand the women sports consumers, their stages of involvement and motivations to participate. Hence, this study is a step towards achieving an understanding of the same. Research Objective: The objective of the research is to understand the Woman sports consumer in terms of her involvement level and motivation to consume a particular sport. The study of motivation for predicting consumer behavior is very difficult as to understand the interrelation between motives and specific behavior. Also, to develop a list of consumer motives comprehensive enough to capture the wide variety of motivating forces that stimulate and shape behavior is challenging. To do the above, a framework could be constructed in the form of a social continuum which broadens the sport consumer motivation notion by using involvement as a motivational construct to distinguish between various levels. Factors like womans role in the society would also be a part of this construct. Hence, a study of the immediate environment becomes imperative for studying the consumption pattern. The level of involvement of women consumer of sports should form the basis of the framework of social continuum where the stages vary from viewership to acceptance to fan base to taking part or actively playing to encouraging others to play or advocacy. As shown below, Identification of critical factors which defines each of the stages could be looked at and the motives of each stage should also be looked at. According to each stage a corresponding set of behavior would be associated. Understanding different spectator motivations and involvement levels can be of significant benefit to the sport marketer looking to boost team revenues and gate receipts. Of particular interest are both the marketing manager understanding the specific motivations that drive a spectator or fan to consume a sport and the subsequent development of marketing communications based on these motivations. These effective marketing communication plans can often help build groups of diehard fans, thus expanding the customer base for a team. Spectator and fan motivation can also be used as an effective psychographic segmentation method that can result in more effective marketing campaigns. Sub Research Objective: Involvement Involvement could be defined as a state of interest, stimulation or motivation towards an object, a product or even an activity. As put by a study done by Mitchell, Involvement represents an internal state variable that reflects the amount of arousal, interest, or drive evoked by a particular stimuli or situation that mediates consumer behavior. Application of the involvement construct to examine sport spectators and sport fans would provide a fuller understanding of motives and what stimuli and situations direct behavior (e.g., attendance, purchase of team merchandise, media consumption) and attitudinal formation (e.g., preferences, commitment, loyalty). Some parameters of study for involvement would be Importance of product as perceived by the consumer Pleasure or enjoyment provided by the product Risk of making the wrong purchase or participating in the non enjoyable activity Self expression it represents the identification of the person with the purchase or participation Centrality to lifestyle, encompasses socializing and interactions Motivation Theories and studies have been done by researchers on how to assess the motives for consuming sports. These motives can be generally classified into the broad categories of study as Entertainment Stress and stimulation seeking Social Interaction Achievement seeking Approach to Analysis According to the sample defined above, the research would be conducted two phases: Phase 1: This would be in the form of exploratory research which would be used to develop a conceptual model for examining involvement stages and their corresponding motives. The purpose of this is to identify any potential parameters related to spectator motives or involvement framework which were missed. In-depth interview of 5 respondents approximately would be taken in each market segment. Phase 2: This is the validation phase where the qualitative study would be validated by quantitative so that the result of the first phase could be extrapolated to a larger population if required. Sampling Universe: The sampling universe could be defined as young women who are primarily college goers or into the first 2-3 years of job, who follow at least one sport, belonging to SEC A or SEC B. Details of Phase I Sample Size: 15-20 (Qualitative study) The sample size setting is done with a non-statistical approach where the selection is done anticipating subgroup analysis. The anticipation is that 4 meaningful clusters (market segments) would emerge and each cluster will contain approximately 5 respondents in average. SEC A SEC B College Goers Urban Semi Urban Working Women Semi Urban Urban This is for the qualitative part of the research. Sampling Procedure: Convenience Sampling (Non- probability sampling) Care would be taken to ensure that heterogeneity of the entire population can be effectively covered in the sample. Details of Phase II The phase II methodology would depend on the data collected in the first phase. Scope The study would help marketers understand the woman spectator motivations and stages of involvement in consuming sports in India, in turn, help in predicting behavior This would help marketers tap into the growing woman spectator base. Expected Contribution There has been no study on understanding women spectators in the Indian context done till date. This research would help both the academia and industry to understand an upcoming segment. Understanding different spectator motivations and involvement levels is important for a sport marketer to tap the women consumer segment which is increasingly becoming independent economically and socially. Understanding the involvement and motivations that drive a woman spectator to consume a sport in India would help marketers target this segment with crisp and relevant marketing communications. The involvement stages and motivations can also be used as an effective psychographic segmentation method for forming effective campaigns.

Green Flash from the Sun :: weather sunset

Many think it's just a myth. Others think it is true but its cause isn't known. Adventurers pride themselves on having seen it. It's a green flash from the Sun. The truth is the green flash does exist and its cause is well understood. Just as the setting Sun disappears completely from view, a last glimmer appears startlingly green. The effect is typically visible only from locations with a low, distant horizon, and lasts just a few seconds. A green flash is also visible for a rising Sun, but takes better timing to spot. A slight variant of this was caught in the above photograph, where much of the Sun was still visible, but the very top appeared momentarily green. The Sun itself does not turn partly green, the effect is caused by layers of the Earth's atmosphere acting like a prism. The Green Flash Definition and Description: The green flash is an atmospheric refractive phenomenon where the top edge of the sun will momentarily turn green. It is seen rarely by the naked eye, primarily because it requires specific conditions to occur, but also because it requires the observer to know what to look for. Despite the name, there is no "flash;" the event only lasts from a fraction of a second to at the longest, a few seconds. The Basic Cause: Refraction bends the light of the sun. The atmosphere acts like a weak prism, separating the light into diferent colors. Blue light is bent more strongly than red. But this refraction is very weak even at the horizon, which is why the sun isn't seen as being multi-colored in the daytime. The effect is magnified by the atmosphere, and at the horizon there is a lot of atmosphere between the sun and the viewer. Layering in the atmosphere causes an effect similar to a horizontal cylindrical lens: the separation of the color bands is exaggerated in the vertical direction. Conditions: The green flash is best observed when you have a clear view of the horizon, with no objects or pollution in the line of sight. Usually you need to be able to see a distance of several miles out, almost to the point where the curvature of the Earth defines the limit. Because of this, the green flash is most often reported by the ocean.

Women :: History, Caribbean Women

â€Å"During the twentieth century, poor women in the Caribbean were pulled into a predictable, gendered, labor pattern operating at investment sites in the region. In this pattern poor men leave home to find temporary, labor-intensive employment in the initial phases of economic development. Women follow later to take up more permanent service employment as maids, domestics, and cleaners† (Almer, 99). The significance of the quote is its showing the emergence of a labor model that has shaped the Caribbean for generations. In the beginning of the twentieth century poor eastern Caribbean women followed male migrant workers to various places such as: the Panama Canal, Cuba, Dominican Republic, Trinidad, Curacao, and Aruba in order to provide for their families. Eastern Caribbean women have developed their own family model, which include non-marital relationships and freedom to travel for work. According to eastern Caribbean social norms poor women are expected to have children and support them financially. This results in women leaving their children with extended family and supporting them by working in distant places (99). During the Pre-1960s women migrant workers found employment as seamstresses, cooks, laundresses, and maids at labor camps located in the Panama Canal Zone, Cuba, and the Dominican Republic (100). When employment on these islands decreased, women followed the labor migrant pattern again by traveling to Trinidad, Curacao and Aruba to perform domestic work (101). â€Å"The female labor migrants experienced a form of freedom and independence that came with consistent predictable wages. These migrant domestics were economic mainstays for their dependents left behind in their sending societies† (101). The quote is showing how migrant women have moved from their economic status in their home town to now being able to support themselves and their families through steady employment. During the Post-1960s increased economic investment in tourism on the US and British Virgin Islands, in addition to the Dutch’s Aruba and St. Maarten brought again the labor migrant pattern of women coming to work in the tourism industry (101). The increase in tourism on the Virgin Islands brought with it increases in foreign born populations and in female workers. â€Å" ’The general prosperity that was stimulated by tourism resulted in a demand for female workers, as maids and ancillary personal in hotels and gift shops and as domestics in private households’† (102). The quote shows how female labor plays an important role in the economies of these islands.

Looking Back at Adolescence Essay -- Adolescent Behavior

Adolescence is a part of growing up between leaving the childish ways behind and slowly preparing more mature roles as an adult. This is a very confusing part of growing up because this is a time were we are trying to find our identity, creating our long term goals, and making decisions that may affect our lives forever. This can also be characterized as a part where we are trying to fit in a society which we feel we belong because we share the same experiences, thoughts and feelings. Also in this time, some are experimenting on things that come their way. Some of these things lead them to complicated situations. Still some are engaging into smoking, drinking and worst drugs that fatally affect their academic responsibilities. We adolescents grow in a very different setting than the generation before us. We are greatly exposed to technology that teaches us many things. If you open your personal computer at home and start browsing, pornography is just one click away. Too much technology kills us. Everything we might need is already spoon feed to us. I never mean that tech...

Pearl River Piano Company Essay

Pearl River Piano Group (PRPG) was established in 1956 by bringing together six small piano shops in Guangzhou. The group of 100 employees produced only 13 pianos that year. After many attempts, Guangzhou technicians were finally satisfied with the tone color and quality of its first manufactured piano, and in a short time it was sold in Hong Kong. It would be twenty years before the factory was able to prove its potential. As a State -owned enterprise PRPG is accountable to the Guangzhou municipal government. Investments from both Yamaha and Steinway & Sons have played a key role in the expansion of their production. In addition, PRPG has bought the German piano brand Ritmuller and will be expanding in the European market. Guangzhou, located at the north of the Pearl River delta, is an important trading center as well as a busy port and the capital city of the province of Guandong . The city has an area of over 16,000 square kilometers and a population of 6.7 million. Guangzhou is a lso one of the most important centers of foreign commerce in South China. There are a lot of interesting legends concerning its past. One of the beautiful stories which gives the city its name Goat Town says that five gods riding on five goats brought the first grain to the city. In 1959 PRPG consisted of a shed on the side of the street to repair pianos. Later a shelter was built to process the wood. At that time the pianos were carried in a cart with men walking barefoot to the port. During the tumultuous of Mao Zedong’s Cultural Revolution in the 1960’s and 1970’s, few Chinese dared to buy a piano, which symbolized the West’s decadent and bourgeois society. Learning the piano was frowned upon at that time. The factory didn’t stop making pianos. However, they were lucky if they sold more than one hundred pianos a year. In the meantime China’s one-child policy has created a culture where parents invest heavily in their children’s education. Parents like to spend money to improve their children’s educ ation and culture and this has paid off for PRPG. Nearly 80%of their pianos are sold in China. Pianos have caught on in China. PRPG’s domestic shipments climbed even throughout Asia’s financial crisis. During the1960’s companies such as Yamaha took advantage of low labor costs to enter the global and domestic market. They were quietly followed my South Korea. For years the musical instrument business was dominated by U.S. and European companies. But this has been changing now for decades. In 1992 Tong Zhi Cheng took control of the company. He had worked for only one company during his adult life, the state-owned PRPG. When Tong took over pianos were fairly common in households in Europe and the U.S. for nearly two centuries, but in China they have been a luxury. In 1995 PRPG and Yamaha Pianos of Japan forged a $10 million joint venture. They set up a company called Yamaha-Pearl River. This company was set up to make certain â€Å"Eterna† models that are exported to Europe and the USA. Unlike China’s typically backward state-owned companies, PRPG is savvy about brands and looks for new products to sell. Tong bought a mature German brand Ritmà ¼ller in 1999. In addition he has struck a deal with Steinway & Sons to produce their Essex line of pianos. Today, PRPG consists of a factory spanning 2 million square feet–the world’s biggest piano plant–cranks out 250 pianos every day. White-smocked workers steer computer-driven kilns that bake oak planks en masse. Individual piano keys are hand-checked for precision and balance. Five pairs of ears listen to each piano’s tuning, speeding another instrument out the door–and into America’s living rooms. Just two years after Pearl River set up a U.S. sales arm, its high- quality, low-priced pianos have snared 10% of the market, and the company vows to capture a 25% share by 2005. It already has won the hearts and minds of some U.S. consumers.