Applied buyer behaviour in global context Essay

Applied buyer behaviour in global context - Essay Example Currently there are six main releases of iOS. These include; iPhone, iPhone 3G, iPhone 3GS, iPhone 4G, iPhone 4GS and the latest iPhone 5 (Beavis 2012). The Apple Company launched four TV advertisements. One advertisement focused on the new ear pods while the three showing off the device’s new features. ‘Thumb’ is one of the four ads that explain why despite the phone’s taller display users will still be able to reach the whole touch screen with their thumb. The ‘Cheese’ advertisement shows the iPhone’s camera application capturing a panoramic photo of a group of children in fancy dress. The adverts were narrated by Jeff Daniels the star of â€Å"Dumb and dumber and Newsroom†. ‘Physics’ shows off the design, size and weight of the iPhone 5. The advert shows the larger 4 inch display and the thinner profile of the device. The ‘Ear’ explains why apple chose the new design of the headphones. IPhone 5 TV adve rtisements Cheese Thumb Ear Turkey According to the Apple website (Beavis, 2012; pg. 01), the new iPhone 5 is eighteen percent thinner than iPhone 4S (7.6mm), it is lighter by 20% at 112grams. The bigger screen is 4-inch screen with 16:9 aspect ratios and an 1136 x 640 resolution and a retina display of 336ppi. The new iPhone is sold in two colors, black and white with different storage capacities. In comparison to the previous advert, the iPhone 5 advertisement concentrated on the awesome features of the iPhone. Labeled the ‘Genius ads’ the previous advertisement campaign consisted of three Television advertisements that were broadcasted during the Olympics Opening Ceremony and depicted an Apple worker (Genius) assisting several Mac owners in unlikely situations. The first Advert showed the Apple Genius on a plane helping a Mac owner make an anniversary film for his wife after forgetting the occasion. In second advert, the Apple Genius answers the door in his uniform a t four in the morning to an expectant father who wants to make cards to send the family to announce the birth of the baby, during this time the wife is in labor. The last one depicts the Apple Genius that bought a PC that is a Mac (Trenholm, 2012). The main focus of the Genius advertisement was to show potential customers that Apple has a team of experts available to attend to them should they encounter problems while using the unfamiliar operating system. It ended up offending the public who thought that it lacked creativity. IPhone 5 target market Demographically, iPhone targets consumers aged between 18 and 35. These are mainly the youth population composed of students and young professionals. They must be from a working class and mainly urban dwellers. Features of iPhone that are psychologically appealing to the consumers include stylish appearance, countless applications, multimedia, sensitive touch and user friendly technology. However, the main driving force towards the purch ase of an iPhone is the brand name. Image conscious individuals attach feelings of privilege when using iPhone. Such people are also fashionable, and in order to stay abreast with the current technological trends, they are likely to purchase every new release of iPhone. IPhone also appeals to tech-savvy individuals, attention seekers and extroverts (Piercy & Nicouloud, 2012). Furthermore, study shows that the majority of iPhone users posses similar character traits. For instance, they are lavish spenders who mainly buy branded products and are socially

Tono-bungay Assignment Example | Topics and Well Written Essays - 1750 words

Tono-bungay - Assignment Example this rather oppressed lower class members of this â€Å"society† but clearly holds the view that it is their clichà © mode of life that restricts them from leading a better life (Wells 6). He also asserts that there is a greater social problem in the society driven by money. He writes â€Å"See what the world pays teachers and discoverers and what it pays businessmen! That shows the ones it really wants† (136). Largely, the book covers the troubles of the low class in their bid to make something good for themselves. This novel reflects on the life of the society at the time it was written and specifically concerns the social changes caused by industrialization and consumerism trends. A notable focus on this book, in the aspect of the argument of this paper, is that the people in this age can find a bearing of the insights in their social life. By covering the socialist ideals and ideas, Tono-Bungay not only becomes important for the society during its setting but also in subsequent generations as the social issues in the book are transferrable from one era to another. At the beginning of the novel, Wells narrates through George the ignorance of the lower class in the society. They are easily duped by the wealthy class to continue serving them hence enriching themselves only. George comes to learn of the world of the wealthy class as a boy through listening to the comic and humiliating conversation of men and women of the lower class in the society. Wells narrations point out that these conversations mirrored the unawareness as well as the rigidity that these men and women of the lower English class had towards their plight. These people have adopted a clichà © mode of life which they have gained so much comfort in that they do not seek to improve their lives or that of their future generations. George, young as he is at the time, can tell that the sickness in the social fabric of the English society he lives in. George says â€Å"She is reality, the one reality I have

Succesful Marriage Essay Example | Topics and Well Written Essays - 750 words

Succesful Marriage - Essay Example Team work as explained by Coontz (2005) is the greatest of the factors to make a marriage successful. Team work involves doing things together and sharing all the details of the couples. It also involves sharing all the decision as well as making decisions together without one going behind the other’s back which in the end lead to lack of trust, fights and ultimate breakup. However, if the couples share all the information including secrets even the most trivial of them all, it means that in any difficulty or misunderstanding which is the likely recipe for divorce, the couples will go through it together as a team. Just like teamwork in workplaces requires contribution of all the parties involved, team work in marriage works in the same way with both partners contributing equally whether it is in time, finances or otherwise. When there are children in the marriage, teamwork is expected in raising them and this means being on the same page regarding curfews, deadlines, allowanc es and school work. Trust is the other greatest factor. Trust is different from team work in that without trust, team work is likely to fail, but a couple can last more in marriage with trust only than with team work only without trust. Trust means an in depth believe in one’s partner and especially when they are around people of the opposite sex or away from each other. What destroys most couples is lack of trust which leads to paranoia that the partner is going to leave you for another beautiful or handsome and more financially stable or younger partner. If these doubts and paranoia thoughts start entering the mind of the couples, trust starts crumbling, arguments increase, there is secret surveillance and this is the high road to divorce. Discussing insecurity issues is the best way to trust. The other most important thing is communication. Communication goes both ways if understanding and

Jack Finney's Time and Again Essay Example | Topics and Well Written Essays - 1000 words

Jack Finney's Time and Again - Essay Example The novel itself contains pictures and drawings that show buildings and monuments of 1882 New York City, thus, making it an interesting read for the reader. This paper analyzes Finney’s description of life in past and present, with a personal reflection at the end. The novel portrays that life was much simpler in 1882 New York City. The reader comes to know that Si, through an arrangement of self-hypnosis and well managed environmental control, travels into the past. Everything seems so simple, but the events occurring are quite disturbing, with Pickering as the antagonist. The photographs and drawings of that era show that Si finds it very appealing as compared to the present era. According to Si, â€Å"The faces are different† (Finney). This is a statement that encompasses every change that the period between past and present has seen. Si observes a lot of farming on Manhattan. The Dakota and Museum of Natural History are standing alone without any hurly burly renovat ions. The arm of the Statue of Liberty is resting on itself in the Madison Square. Si is enchanted with the simplicity of the fashionable Ladies’ Mile of Broadway. He enjoys the jingling of the sleigh bells in Central Park. There are no vehicles, no automobiles, no planes, and no computers. The food is much better. Finney, through his character Si, shows much attraction toward the era of 1880s, when there was no hustle bustle of modern technologies and nuclear developments. Finney is not very glad with the anarchy of the 1960s, where he experiences that everything is falling apart. Si brings Julia to 1960s, where she is surprised to see how many changes time has brought to history and to the world. Si tells her how vulnerable everything has become, and there are many places where common law-abiding citizens cannot even dare to go. â€Å"A group of young Negroes was walking toward Lex, so I didn’t hang around to encounter them and explain how fond I’d always bee n of Martin Luther King† (Finney), which is the statement that portrays fear that inculcates itself into the hearts and minds of all common men. Si tells Julia about the anarchy and chaos that has changed time into a poisonous mayhem, where past seems like an alien phase. To Finney, 1880s era is very calm and soothing; and, through the character of Si, he assures that he would have very comfortably lived in that era where everyone had a special place in society, not like the complicate era of 1960s. However, there are some aspects of 1880s which Finney is not at all happy about. He thinks that that era was void of proper healthcare, as, for example, doctors did not have the concept of antibiotics. Smallpox was common. Poverty, corruption, and vicious brutality were there. Finney writes: On the streets of the eighties I saw human misery, as you see it today; and depravity, hopelessness, and greed; and in the faces of small boys on the streets I saw the premature hardness you se e now in the faces of boys from Harlem. But there was also an excitement in the streets of New York in 1882 that is gone. These lines are a complete depiction of what Finney thinks is better about 1880s, and what he think is bad. I believe that Finney has very correctly portrayed the pictures of past and present in his novel. Time has changed, but has brought with it so much advancement that has benefitted the world in many ways. I believe that both the past and the present have their plus and

Frankenstein and Lord of the Flies Essay Example for Free

Frankenstein and Lord of the Flies Essay Frankenstein and Lord of the Flies were written in different centuries. Analyse the similarities and discuss the differences which you have found in these texts. You should pay particular attention to characterisation, style and theme. Mary Shelley wrote Frankenstein in the 18th Century. As there was no cinema or television available books were a widely accessible form of entertainment. Particularly fantastical texts like Dracula and Vathek were popular, books like these were not meant to be thought of as a portrayal of realism, this is why Frankenstein is very unbelievable. Frankenstein is set in a time when new science posed a threat to Christian beliefs, as society started to believe that man could be created. This all seemed very possible in the early 18th Century because Benjamin Franklin had previously invented a lightning conductor and in 1802 Galvani ran a current through a frogs legs and it produced a twitch. The thought of starting life with lightning terrified people because of the dangers it appeared to pose to endanger human life. William Golding published Lord of the Flies in 1954, nine years after the end of the Second World War. So there were still conflicts going on between Russia and America, Golding used the idea of continuous war and portrayed it onto the island. The text concerns a group of public school boys getting trapped on an island after their plane crashes; they all have traditional upbringings and attitudes. Other books, which had previously been written such as Swiss Family Robinson and Coral Island, featured a similar situation but with a happier ending, these types of books were all very unrealistic and fairytale like. William Golding wrote what he thought would really happen if anyone ever faced this situation. The two tribes that develop in Lord of the Flies (Jacks and Ralphs) represent Hitler and the Nazis against the allies (America, Great Britain etc). The Italians swapped sides during the war as the Nazis became weaker; Sam and Eric reflect this as they join Jacks tribe because Ralphs is less popular. Both books have many similarities and differences between them. The main similarity is that both books are about lines of civilisation being broken revealing the darker sides of peoples characters. The boys in Lord of the Flies are immediately, physically desolate after their plane crashes. Nobody knows where they are and there are no adults. In Shelleys book, the character Frankenstein chooses to be isolated as his work is more important to him than anything around him. One similarity between the two books are the characters Piggy and the creature. These two characters are both judged by their appearance. Piggy is shorter than the fair boy and very fat. He has asthma and thick spectacles. The creature has yellow skin and straight black lips, in both cases we can immediately tell that they are physically different. Even Frankenstein, the creatures creator dreaded to behold him. They both become isolated and victimised because other people see them as being different; this creates a feeling of sympathy towards both characters throughout the books. They also both have no parents as Piggys dads dead, and [his] mum, and the creature said: No father has watched my infant days, no mother had blessed me with smiles and caresses. The creature feels sadness and rejection and believes that having parents is important, this is also implicit in the case of Piggy, but the creature has never been loved by anyone so the feeling of depression is greater. It can be argued however that, in a way the creature has been loved as Frankenstein loved him while he was creating him. When he is brought to life the love he had previously received from Frankenstein ends. The difference between these two characters is that Piggys intelligence is threatening to the other boys as he has some sensible ideas that the boys do not wish to carry out. He says: Which is better- to have rules and agree, or to hunt and kill? The boys ignore him as they have already descended into tribalism at this point. Piggys intelligence is threatening because he has a very defined idea of what is right and wrong and he is a very moral person. The creatures intelligence is harmless as he only wishes to fit in. However, as the creature becomes more knowledgeable he discovered what a wretched outcast he was. He has no idea of what is right and wrong and only wants to fit in. The level of intelligence an individual has, whether it is a lot or a little can still make them isolated from others. From the start of Lord of the Flies we can tell that Piggy wants to fit in by the way he follows Ralph. Ralph disentangled himself cautiously and stole away through the branches. In a few seconds the fat boys grunts were behind him. He is last to put his hand up to vote for Ralph: Every hand outside the choir except Piggys was raised immediately. He hesitates because although he wants to vote for Ralph he does not want to be the only one who votes for him. He wants to fit in and not be the odd one out. It is implicit that Piggy was not very popular at school as They used to call [him] Piggy. This is why he follows Ralph in the way he does; he desperately tries to try and make friends as he feels depressed and sad about his previous school life. He is not very attractive; this is a reflection of how people perceive him. There are not just similarities between Piggy and the creature. Frankenstein and Ralph are also similar because although they are in different situations, they both have something they want to achieve. Ralph desperately wants to be rescued from the island. He constantly tries to keep the fire going as The fire is the main thing, because it is a signal to people to show that they are stranded. Frankensteins aim is to take science a step further by creating new life without using nature. They are both headstrong and both have will power to achieve what they want to. Unlike Frankenstein, Ralph sees reality as he acknowledges that if they do not try to get rescued they will die on the island. without the smoke signal well die here! Ralph is far more considerate than Frankenstein. Frankenstein does not consider the consequences of his actions and as a result of this he creates a disaster. He does not see reality as he becomes so determined to be the first person to create life. While Frankenstein is preoccupied with creating life, Ralph believes that preserving life is more important. Frankenstein can also be compared to Simon from Lord of the Flies. They are both symbolic of Christ. Simon passed food down to outstretched hands and Frankenstein stated that; food that I had killed, which after taking a small part, I always presented to those who had provided me. They are both kind and considerate and the way they give to others is much like the same way that Jesus did. Although Frankenstein has been isolated and anti social for a few years he is still amiable. Simon is surrounded by a lot of biblical images all through the book. The way that Simon appreciates the island and nature seems quite strange to the other boys. He is described as cracked and batty. In the same way Frankenstein gets remarks because he enjoys the structure of the human frame. and philosophy. Both Simon and Frankenstein are intransigent as they ignore any comments tackling their views. Frankenstein believes that: A new species would bless me as its creator would owe their being to me. He wants to be worshipped and idolised for creating life like God. Simon wants to appreciate his surroundings, which God as created. Frankenstein states that; No father could claim the gratitude of his child so completely as I should deserve theirs. He becomes arrogant and his ego begins to swell. He wants to totally change the way in which humans are brought to life and he becomes insatiably infatuated with this. Simon willingly accepts the beauty of nature and he sees things differently to other people, like the beast only being a fallen pilot (this shows more clarity of thought than the other boys). Unlike Frankenstein, Simons character is very vague, he is simply known as the boy who fainted towards the beginning of the book. He is also described as a vivid little boy. No one really understands him as he has more maturity to understand things than the other boys, but he does not have the vocabulary to express his views and feelings. Frankensteins character is not constant through the book. At first he is very unorthodox, as he does not consider the views or beliefs of anyone around him. Towards the end of the book he becomes remorseful as he realises that he has created a demoniacal corpse. When Simon died the clouds opened and let down the rain like a waterfall. This is pathetic fallacy as it reflects what is happening in the story. Simon is seen as God- like, and the storm and heavy rain is like Gods anger against the savage boys sin. It is as if they killed the good on the island and it cannot be justified or tolerated. After he is killed the language used is very calming; there was a trickle of water and no noise. This is ethereal, as if Simons body is being taken by angels up to heaven. The way Simons dead body moved out towards the open sea is very heavenly. When Simon sees the Lord of the Flies for the first time, Golding says: Even if he shut his eyes, the sows head still remained like an after- imageThey assured Simon that everything was a bad business. It is as if Simon is getting a vision from God; the sows head demonstrated how the hunting has got out of control. God is warning him that what is happening on the island cannot be accepted. After this has happened it is ironic that Simon is killed for being mistaken for the beast. The message given to him was right; the hunting on the island had become a bad business. The difference between the two books is that Frankenstein is a man of science and Simon is a man of spirit. In Frankenstein it is science against religion, where as in Lord of the Flies the human need to survive is put against society. Another character from Lord of the Flies who can be compared to Frankenstein is Jack. It is clear from the start that Jack will potentially be a threat from his appearance. He has red hair which signifies a fiery temper, and red is also used for warning signs, which indicate danger. Both Jack and Frankenstein become obsessive about certain things. Frankenstein becomes obsessed with creating the creature and Jack lets hunting become his obsession. Jack begins to bring up hunting in most conversations, he said: All the same- in the forest. I mean when youre hunting. He is the first to suggest that the choir form a group called the hunters and he is always the first to lead them out into the forest to go on a hunt he insists to the other boys that meat is important. Jack becomes excited by droppings that steamed he bends down to them as though he loved them. This is clearly not natural behaviour and these are definite signs that his obsession with hunting has gone too far. Frankenstein gets so engrossed with his work that he forgets about his family. He, like Jack, becomes disturbingly infatuated with his project as he does many inhumane things: [He]collected bones from charnel- houses and disturbed, with profane fingers, the tremendous secrets of the human frame. The word profane is important because it illustrates the way he shows disrespect for religion. In Lord of the Flies the other religion could be classed as Ralphs tribe. Jack does not consider the welfare of these boys and he becomes so obsessed with hunting that he forgets both his morals and the fact that the boys need to be rescued. While Jack is hunting The madness came into his eyes again. He has the urge to kill and his obsession has got so far out of control he is losing his sanity. However, these two characters are also very different because Jack has a cruel personality; he picks on the weaker boys. Piggy is usually his victim; he singles him out for the way he looks, he says, shut up fatty and you fat slug. He smacked Piggys head and he is also very sarcastic towards him: We mustnt let anything happen to Piggy, must we? His character is also very fierce; this becomes apparent from the language used. The way he slashed, slammed and snatched shows he is destructive. He acts like this so that the other boys become afraid of him and do not challenge his views; he feels powerful and dominant. He gains respect from the other boys by behaving like this: Jack looked round for understanding and found only respect. He regains the power which he lost from not being voted chief by behaving in this way, and he also feels he has control over the other boys. The boys do not always agree with him, they just followed him obediently because they are afraid of him. Jack is also like the creature because they both show their darker sides after being isolated. Jack believes he has the qualities to be leader because he can sing C sharp. When Ralph is voted leader, Jack immediately becomes isolated, and tension occurs between them as he constantly challenges Ralph to be leader. The creature becomes isolated because he is not socially accepted, as he looks different. His treacherous side shows as his level of intelligence increases. He begins to feel rage and revenge towards Frankenstein, in the same way Jack feels for Ralph. The creature says that: I declared ever-lasting war against the species, and more than all, against him who had formed me. The language used here is very strong; he shows feelings of hate towards Frankenstein because he enrolled him into a world of misery. Jack and the creature both develop feelings of hatred towards the ones who have ostracised them. Some of the words used to describe Jack and Frankenstein are animalistic. When Jack is hunting it is like he almost becomes an animal, he sniffs the air and comes trotting back. When Frankenstein gets angry he gnashed [his] teeth and ground them together. They do mot appear human as they are stripped of human characteristics such as conscience and morality. This suggests that they have evil natures. These evil natures can also be shown by the inhumane killings that occur in both books. Lord of the Flies and Frankenstein both feature violence, death and murder. In Frankenstein the creature becomes completely demoralized like Jack and Roger, the murders they commit are brutal, but the reader is more sympathetic for the creature because he has never been loved and however desperately he tried to find a friend he was always rejected. The boys in Lord of the Flies have been loved and brought up in a religious manner, so they have no excuse to kill. The boys deconstruction of their reality mirrors the creatures construction of reality. This can be shown when Simon is brutally torn apart, where as the monster is pieced together. Simon can also be related to the creature because he has a problem, which he cannot do anything about. Simon is epileptic and the creature is ugly and 8 foot tall. These are problems, which can stop them from being like other people. In Frankenstein the style in which the book is written is totally different than that of Lord of the Flies. There are three concentric layers, one within the other. The outer layer, which is the shortest, is Robert Waltons letters to his sister describing his voyage to the North Pole. In the next layer Frankenstein tells the story of how he created the monster and how he abandoned it in disgust. In the third layer the creature describes the struggle he has trying to fit in. There are also multiple storytellers in Frankenstein. In Lord of the Flies the book has a linear narrative as it reads from beginning to end, it is narrated entirely by the author. As Frankenstein is a gothic horror book, the murders do not come as much of a surprise to the reader, where as Lord of the Flies features innocent, young school boys committing brutal murders. So the shock value in Lord of the Flies is greater and indeed more horrific than that in Frankenstein. The books are also both written in a way so that the reader looses track of time. Many phrases are used in the text to imply that a lot of time has passed, like Two years had now nearly elapsed and Six years had elapsed. This reflects the insanity that develops in the characters. In Lord of the Flies there is a system of hierarchy, as there is only one place at the top Jack and Ralph constantly fight to be the highest so that they have power over the other boys. These boys are underneath Jack and Ralph in the hierarchy so they are not as powerful they are, this is why they follow one of them. Piggy is one of the weaker boys at the bottom; this is why he is victimised. In Frankenstein there is no system of hierarchy, everyone in the text is considered as equal. In both books there is a role reversal. In Lord of the Flies Ralph goes from being leader to an outcast who is left to survive on his own. Jacks hunting tribe eventually over powers Ralphs tribe who want to be rescued. This shows the immaturity of the boys as they forget their priorities. The role reversal in Frankenstein occurs between Frankenstein and the creature. Frankenstein has power over the creature while he is creating him, but when he disowns him; he is left to do what he likes. He becomes more powerful than Frankenstein (and indeed any human being) because of his sheer stature and his increased level of intelligence. Frankenstein is aware of the fact that he does not have any morals as he killed innocent children. The creature realises this: You are my creator, but I am your master; obey! Role reversals are used in the text to show that the goodness in a person does not always win. I have already discussed thematic issues within characterisation, but the main theme in both books is about the darkness of Mans soul. The evil side of man, which is inherent in everybody, can be brought out in different situations. The two books show this in different ways. Frankenstein involves an adult world confronted with many scientific changes. Lord of the Flies shows a world entirely populated by children who struggle to survive. However, in both books the same message is delivered; the notion of society breaks down when there is nothing to uphold it. This is explored through the themes of isolation, difference, anger, ambition and obsession. While the boys on the island are unwillingly taken out of society structure and the creature is forcefully thrust into it, the result is the same- the hidden darkness of mans soul is revealed.

A Story from the Childhood That Is Reenacting My Life Today Essay Example for Free

A Story from the Childhood That Is Reenacting My Life Today Essay Years ago when I was a small kid, there was a point in time when I thought I was going to die or was going to live in a way other than other normal people. I accidentally cut my finger with a scissors by mistake while I was at my father’s work place for a visit. As a little child, I was very frightened by the look of blood and thought I was going to lose my finger or hand back then. My father used to be a banker working in one of the leading banks in Kuwait. I recall my father told me that he was going to be away for some time from his desk to do some important work and once he comes back he will get me chocolates and candy. While I was playing around at my father’s office I picked up a scissors and starting cutting papers and then I screamed as I have cut myself by mistake in my finger. Moments after, a colleague of my father ran into his office and helped me. His name was Ali. He helped me clear the blood quickly and was very supportive. I recall Ali’s response was exactly what a kid in such situation would hope for. He cared over me in delicate and nurturing manner. My whole world changed since that day, as a child I have developed love and respect to Ali and used to ask my father to take me to his office every school holiday to see Ali. I recall I used to prefer sitting in his office than staying at my father’s. I grew up having the same thoughts till the day I have graduated from high school as I have then decided to study Accounting and Finance in order to allow me to work in a bank and be a good caring person like the people I used to see when I was a child at my father’s work.

Hanjin Bankruptcy Case Study

Hanjin Bankruptcy Case Study Abstract Over the past five years, Hanjin Shipping Co Ltd has maintained its ranking among the top 10 shipping companies in the world making it in 8th position in 2015 (JOC 2016), however, on 31st of August 2016, Hanjin Shipping declared bankruptcy. It was clearly leading to bankruptcy as company was showing low profitability and Hanjin vainly attempted to increase liquidity but it was too late. It is also said that Hanjins breakdown was the largest and the most significant bankruptcy in the container transport industry (Paris and Nam 2016). 1. Introduction The purpose of this report is to examine and look at factors that led to the bankruptcy of Hanjin. This report is divided into two parts. In the first part the Business Report published by the company will be used to identify 4 factors which led to the Hajin Shipping collapse to give and analyse the image of liquidity and profitability. The second part will focus on cash budget went in 2014 and et sequitur. 2. Factors that resulted in Hanjin Shipping crash Four outputs were chosen from Hanjin Shipping Co Ltd financial results two from Balance Sheet and two from Profit and Loss account in order to explain the bankruptcy. Those outputs are Current Assets (comparing to the Current Liabilities), Borrowings, reduction of Profitability and Profit from Discontinued Operations. 2.1 Factors in Balance Sheet Liquidity, according to Subramanyam and Wild (2009), is companys capacity to rapidly convert the current assets into cash or to derive cash to cover its short-term obligations. The companys activity may be affected seriously if there is a lack of liquidity. Therefore, liquidity expresses the capacity of the company to comply with its short-term obligations, for instance, to meet expenses with sufficient cash inflows or to accumulate a security reserve for any incalculable situation such as payments growth. Consequently, liquidity may be defined as the factor that designates the ability of the company to transform assets into cash or to obtain cash to keep up with the short-term obligations. 2.1.1 Current Assets and Current Liabilities Current Assets are assets that are expected to be converted into cash, sold or consumed within short period of time, usually one year (Subramanyam and Wild 2009). Current assets generally include cash, trade receivable, inventories and prepaid expenses. Current Liabilities are obligations expected to be satisfied usually within one year (Subramanyam and Wild 2009). Current liabilities in balance sheet accounts ordinarily include trade payable, short-term bank borrowings, taxes and accrued expenses. First of all, the key point in the Balance Sheet (B/S) is the difference in size amongst Current Assets and Current Liabilities (960 billion and 4 036 billion of won respectively in 2015). It is also important to mention that Current Assets built up only 13% of Total Assets in 2015. Besides, the short-term Borrowings was the main output which drove the Current Liabilities so high (3 171 billion of won in 2015 what is 78,6% of Current Liabilities and 60 times more than Total Comprehensive Income that year). Furthermore, the distance in percentage between Current Assets and Current Liabilities was enlarging since 2013. In particular, Current Assets went down by 35% in 2015 since 2014 and by 47% since 2013, while Current Liabilities declined only by 18% in 2015 since 2014 and by 32% since 2013. This is the root cause of insolvency, as Current Assets were not sufficient to come over Current Liabilities. 2.1.2 Long-term Borrowings Non-current (or long-term) liabilities are obligations that come due in more than one year (or the operating cycle) and include borrowings, bonds and debentures (Subramanyam and Wild 2009). Long-term Borrowings are type of debt and financial obligations issued for the duration of several (3-5 or more) years (Matassa 2011). Any financial liabilities or bonds included in long-term loan are expected to be reimbursed in a longer than 12-month period. In the Hanjins report (2015), long-term Borrowings grew up by 20% in 2015 since 2014 what means that previous long-term loans were not sufficient in order to run adequately. Moreover, Borrowings were composing over 95% of total Non-Current Liabilities in 2015, and 45% of total borrowings during the same year what comparing to the previous year (2014) grew by 13%. The situation was aggravating due to lack of liquidity and consequently, the ability to repay the loans. Too much of Borrowings finally resulted in loss of confidence by banks who refused future debt services. 2.2 Factors in Profit and Loss account 2.2.1 Reduction of Gross Profit Reduction in profitability may be another cause which triggered a reject for further accrediting by banks or other investors causing erosion of equity what consequently ended with the actual collapse of Hanjin. In the Profit and Loss account (P/L), Sales went down by 9% in 2015 from 2014 comparing to Gross Profit which reduced by 14% in 2015 from 2014. This means that in the possible future, company could become less profitable (if the trend will continue) and go into losses again, as it was in 2013, where Gross Loss was accounted for 260 billion of won and Total Comprehensive Loss for 670 billion of won. Regarding to all listed outputs, it may be additionally supposed that the company was losing its paying capacity what may be another factor of bankruptcy. 2.2.2 Profit from Discontinued Operation What is more, looking at the P/L, the Profit from Discontinued Operations suggested the slippage (141 billion of won in 2014 and 0 in 2015) joined together with losses accumulated over the past years (2 251 billion of won in 2015) had ruined the companys equity. 2.3 Evaluation of the effect on the financial result All in all, it can be said that the Liquidity was low due to incapability of Current Assets to overcome Current Liabilities and continuous Long-Term Borrowings. Profitability was also hardly struggled because of reduced Gross Profit and sudden losses from Discontinued Operations. Combining all afore-mentioned factors and taking into consideration the amount of accumulated losses, the size of total remained Equity was smaller than share capital by 34% in 2015 (the situation, however, was better than in 2014 where the distance was accounted for 38% but unfortunately for Hanjin not enough to solve the issue). As a result, the outcome of stated factors became the rapid decline of Hanjins financial sustainability which consequently led to companys insolvency and crash. 3. Budgeting P/L account (Y0) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Sales revenues 52 55 59 65 55 53 57 59 64 67 70 74 Cost of sales -29 -31 -34 -36 -31 -29 -33 -34 -35 -36 -37 -39 Salaries -10 -10 -10 -10 -10 -10 -10 -10 -10 -10 -10 -10 Electricity -3 -4 -5 -5 -2 -2 -2 -3 -3 -5 -6 -7 Depreciation -2 -2 -2 -2 -2 -2 -2 -2 -2 -2 -2 -2 Other overheads -3 -3 -3 -3 -3 -3 -3 -3 -3 -3 -3 -3 Total expenses -47 -50 -54 -56 -48 -46 -50 -52 -53 -56 -58 -61 Profit 5 5 5 9 7 7 7 7 11 11 12 13 Legend: From previous Year Reduced inventories Increased sales Electricity policy Payables policy 3.1 Cash Budget for Y0 (2014) Cash Budget (Y0) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Trade Receivables 65 52 55 59 65 55 53 57 59 64 67 70 Trade Payables -35 -29 -31 0 -34 -36 -28 -26 -30 -31 -35 -36 Salaries -10 -10 -10 -10 -10 -10 -10 -10 -10 -10 -10 -10 Electricity -3 -4 -5 0 0 -6 0 0 -5 0 0 -15 Overheads -3 -3 -3 -3 -3 -3 -3 -3 -3 -3 -3 -3 Total payments -51 -46 -49 -13 -47 -55 -41 -39 -48 -44 -48 -64 Cash Surplus 14 6 6 46 18 0 12 18 11 20 19 6 Opening Balance 50 64 70 76 122 140 140 152 170 181 201 220 Closing Balance 64 70 76 122 140 140 152 170 181 201 220 226 Legend: From previous Year Reduced inventories Increased sales Electricity policy Payables policy 3.2 P/L Forecast for Y+1 (2015) P/L forecast (Y+1) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Sales revenues 55 58 62 68 58 56 60 62 65 68 71 75 Cost of sales -29 -31 -34 -36 -28 -26 -30 -31 -35 -36 -37 -39 Salaries wages -10 -10 -10 -10 -10 -10 -10 -10 -10 -10 -10 -10 Electricity -9 -6 -5 -15 Other overheads -3 -3 -3 -3 -3 -3 -3 -3 -3 -3 -3 -3 Total expenses -42 -44 -56 -49 -41 -45 -43 -44 -53 -49 -50 -67 Profit 13 14 6 19 17 11 17 18 12 19 21 8 3.3 Cash Budget for Y+1 (2015) Cash Budget (Y+1) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Trade Receivables 74 55 58 62 68 58 56 60 62 65 68 71 Trade Payables -37 -39 -29 -31 -34 -36 -28 -26 -30 -31 -35 -36 Salaries wages -10 -10 -10 -10 -10 -10 -10 -10 -10 -10 -10 -10 Overheads -3 -3 -3 -3 -3 -3 -3 -3 -3 -3 -3 -3 Electricity 0 0 -9 0 0 -6 0 0 -5 0 0 -15 Total payments -50 -52 -51 -44 -47 -55 -41 -39 -48 -44 -48 -64 Cash Surplus 24 3 7 18 21 3 15 21 14 21 20 7 Opening balance 226 250 253 260 278 299 302 317 338 352 373 393 Closing Balance 250 253 260 278 299 302 317 338 352 373 393 400 3.4 Effects of Initiatives on profitability and liquidity There is more cash available for spending on other business opportunities such as: Pay off a loan; Take advantage of new opportunities; Adoption of new technologies; Increased efficiency on operations. Implication of new assumptions for Y+1 as well as consideration of the changes that were applied in the Y-0 eventually allowed achieving positive results for the company. First of all, when comparing cash budget Y-0 and Y+1 it becomes possible to see that due to the introduction of new proposals overall expenses within Y+1 were maintained relatively close to expenses within Y-0. Moreover, assumptions that were set for the Y+1 allowed further increasing the overall profitability of the company and achieving final amount for closed balance of 347. Furthermore, implications that were introduced in Y-0 and were present in Y+1, such as electricity costs policy and supplier policy, also made a significant impact in terms of boosting the overall performance of the business during the Y+1 period. All in all, initiatives that were proposed and incorporated proved to be efficient and had a significant impact on the companys performance. 4. Conclusion Taking everything into account, all the implementations that were made within Y-0 and Y+1 have proven to be successful in terms of allowing the company to expand its capital. As it can be seen from the calculations provided in the report the company experienced a steady growth of shares which can be used as a support to the previous statement. Finally, the decisions which were made regarding Braemer Shipping Ltd created a positive effect on the business simultaneously setting the ground for the companys future expansion. Reference List Hanjin Shipping (2015) Business Report Hunter L. (2017) Lecture, Available at: (Accessed: 10 March 2017) JOC (2016) Hanjin Shipping Bankruptcy, Available at: http://www.joc.com/special-topics/hanjin-shipping-bankruptcy (Accessed: 2 February 2017) Paris C. and Nam I.-S. (2016) Move by South Koreas Hanjin Shipping Roils Global Trade, Wall Street Journal, Available at: https://www.wsj.com/articles/troubled-hanjin-shipping-to-sell-healthy-assets-to-rival-1472611190 (Accessed: 2 February 2017) Subramanyam K. R. and Wild J. J. (2009) Financial Statement Analysis, 10th edition, McGraw-Hill/Irwin: New York Matassa F. (2011) Museum Collections Management: A Handbook, Facet Publishers