MGT 3190 Cross Cultural Management Essay Example | Topics and Well Written Essays - 1500 words

MGT 3190 Cross Cultural Management - Essay Example This strategy along with others that have to do with market segmentation and brand positioning for maximum customer satisfaction has been used by the Mattel Company in order to evolve a strategy that is best suited for the purpose of an entry level product in a diverse global market. Therefore, a good entry-level strategy for the Mattel Company has involved introducing the fact that Barbie has an international face as it can be modified to cater to any kind of culture or country. In this regard, there has been long-term growth through the management of the immediate and other short-term risks. In this case, the main risk came from losing its exclusivity, which can be tackled through the direct investment strategy. (Finnigan, 2001) The Japanese market did not take very kindly to the Mattel Company's Barbie. This was basically due to the fact that the Japanese market did not understand Barbie with her long legs and wide chest. The physical attributes did not conform to the general attributes of Japanese women. This was a major problem apart from stiff competition from the doll names Takara which was a huge success in the Japanese market. Despite trying to strike a partnership with Takara, Barbie did not do very well. (Chonko, 1999) In order to do better business, Mattel could have first of all changed the way Barbie looked, to a certain degree. Even though, its priority list speaks of countries like UK and Australia as strategic places for expansion, internationalisation in today's world would mean a westward as well as an eastward growth owing to the fact that the East is booming and almost at par with the West as far as politics and economies are concerned. As an entry point mode, a company dealing with such products needs to make a more individualistic statement so as to avoid cheap imitations, which is what happened in the case of the Japanese market when it came up with its own 'Japanese Barbie' after the agreement between Mattel and Takara fell through. This calls for a mix of passive as well as consumer centric activities at the location as well as around it for better cultural orientation and market segmentation. For this, it is important to touch the pulse of the target consumers by being accessible to them distance wise and culture wise. Therefore, it will be found that for an entry level product in an international market, exploring the retail market is the best option. The direct investment strategy is the best one for the entry mode strategy. According to the entry level mode strategy, it is important for the product to take the characteristics of its target market into account apart from the investment plan it will follow in the course of going international. (Walter et al, 1988) In this regard, the entry level mode can be applied to find the areas where there is competitive advantage so as to find variations in the large consumer base that this product can enjoy in Japan. This will assist the company in finding an appropriate contractual or intermediate strategy that may be customised to fit into the Indian market in terms of segmentation. With franchising, licensing and other activities that will promote an

Prison Term Policy Recommendation Essay Example for Free

Prison Term Policy Recommendation Essay As a realistic matter, it is smart to sustain a bill that addresses a real concern, creates proper use of resources and effectively addresses the problem for which it was intended. It is known that victims of armed robberies want to see the offenders punished. It is noticeable that the public’s desire is to be safe and protected from being a victim of armed robbery. While on the other hand, the legislature must show caution in legislating across the board sentencing and defend discretion for the judicial system to consider the specific aspects that creates each case. â€Å"Yet advocates of deserved punishment argue that it is not automatically evident how intermediate sanctions compare with either prison or probation in terms of severity, nor is it clears how they compare with one another† (Clear, et. al., 2008). For example placing one offender on intensive probation while ordering another to pay a heavy fine may violate the equal punishment rationale of just deserts. Any recommendation should examine the proposed bill and the Criminal Justice System. Fairness is subjective; in spite of this every society will form a series of regulations through which to defend the individuals and society from damage. If an individual violates one of the regulations dictated by culture, there is usually a consensus of what constitutes a suitable punishment. In the United States, we depend on the Federal Sentencing Guidelines in addition to every states adoption of the Model Penal Code. Section 1.02(1) of the Model Penal Code instructions the allocation of punishment as to safeguard conduct that is without liability from condemnation as criminal (culpability), to provide fair caution of the nature of the conduct confirmed to represent an offense (legality) and to differentiate on logical basis between serious and minor  offenses (proportionality) (Model Penal Code, n.d.). Here we are referring to armed robbery. Considered a felony, armed robbery tends to take a large penalty in the majority states. Among the fundamentals measured in determining if a crime has been committed, one must address the diverse levels of culpability and/ or extenuating factors. Armed robbery can be a violent well designed crime otherwise a clumsy half-witted attempt. Eventually a result of guilt must be made, by a predominance of the proof, with competent lawful protection representation offered to the accused. Only after all these necessities are met can a judge proceed with sentencing. These judges must have discretion in considering the above three aspects and weight them accordingly in order to distribute a sentence that is fair and balanced. While the community may desire a representative to be challenging on crime, the community tends to be sympathetic to media stories of criminals who act out of distraction or need. There has been strong resistance to suggestions that delay individual considerations. Beyond the instant punitive effect, punishment can serve the need of removing dangerous people from the society, serve as deterrence to those inclined to commit a crime and potentially reform criminals into law abiding citizens. These societies have also recognized that in order for any corrective act to have its preferred effect it has to fit the crime. Take for instance the cutting off of a hand for someone caught stealing. Most western societies would regard this punishment as too severe and those societies that adopted this practice have come under scrutiny for these practices. Armed robbery has no doubt been addressed within these judicial systems. Sentencing guidelines should always represent fairness in reliability and proportionality. Also consideration needs to be taken into account as to why new policy efforts are being made for this particular crime. Is there a belief that the accessible laws have displayed omissions or errors that must be addressed? Has there been a failure of the justice system in punishment of armed robberies? Are convicted armed robbers being released from prison too early? Do they cultivate to be repeat offenders? Do these crimes tend to rise into murder or other violent felonies? Are there precise instances where the existing laws have failed to serve justice? To decide the practicability of the bill, the discussion of correctional assets would be applicable. The result of this bill regarding  maximum sentencing (as opposed to mandatory minimum sentencing) doubles the correction time for the person who is convicted in the armed robbery. In each specific case, to evaluate suitable sentence and to weigh the severity of the crime, the bills full force is to provide more choices to judges and the sentencing board. This bill may not help enforcing the provisions but may supply more choices for the severe cases which deserve more severe punishment. References Clear, T.; Reisig, M.; Cole, G. (2008), American Corrections. Retrieved from Google Books. Model Penal Code. (n.d.). Retrieved from http://www1.law.umkc.edu/suni/crimlaw/mpc_provisions/mpc1021.htm

Comparison Of Olympic And Paralympic Games

Comparison Of Olympic And Paralympic Games Commonwealth, World Cup, English Premier League are sports event that is very popular. Besides all those events, the Olympics and Paralympics are one of the most well-known sporting events in the world now. Everybody knows about Olympics and Paralympics. The background of Olympics is founded by a young Frenchmen named Pierre de Coubertin. In 1890, he organized and founded a sports organization, Union des Socià ©tà ©s Francaises de Sports Athlà ©tiques (USFSA). Two years later, Coubertin first pitched his idea to revive the Olympic Games. (Jennifer Rosenberg 2010) Besides that, the background of Paralympics is the first Paralympics Games were held in Rome, Italy, in 1960 and involved 400 athletes from 23 countries. Originally only wheelchair athletes were invited to compete. Since that time, the Paralympics Games have grown dramatically. (History of the Paralympics Movement, online) Both the Olympics and Paralympics have some interesting similarities and differences in terms o the criteria, time of event, games played, rules of games and mission and vision. Both athletes in the Olympics and Paralympics need to be national players of their own countries and meet the requirements set by the Olympics organization in order to participate in these events. However, besides this basic requirement, both the Olympics and Paralympics have other requirements that are very different. For the Olympics, qualified athlete must at least meet the minimum requirement set by the Olympics organization in order to participate in the Olympics game, which is at least a national athlete. And they are all usually train in the young age. For example, Gymnastics and other acrobatic events, kids as young as 4 can be selected for elite programs to prepare for the Olympics game. However, sports like wrestling or rowing, adults bodies are required to really excel, so intense training usually starts around high school. . (10 Steps to Become an Olympic Athlete 2010, online) Youth athletes require a lot of intense training all the time, and competing with all the junior level, year around. And for the athletes who are outstanding will go on to careers as adults and represent their country and take part in Olympics game. Eventually, athletes that perform the best track time from their own country, or got titles in the junior level, or got the best records among all the college or universities, etcà ¢Ã¢â€š ¬Ã‚ ¦ may qualify for entrance into the Olympic trials. And lastly, if they place high enough in the trial, they may be selected for the team. Furthermore, Olympics game is open to all age. The oldest Olympic medalist was 72 years old. For Paralympics instead, in order to participate in Paralympics, according to Paralympic Game 2010, online, athletes must be with disabilities such as, cerebral palsy, spinal injuries, amputated limbs, visual impairments or some other mobility disability. And that is the only requirement that required entering in Paralympics game. Athletes that participate in Paralympics with disability but do not interfere with their ability to participate in the game are all welcome to join the Paralympics game. Paralympics competitors are classified based on their level of disability during the game. And all the participants must learn the requirements, the rules and regulations and also the classification before the game. As usual, they are all selected in the national game before they participate in the Paralympics game. Thus, from the criteria above, these are the differences between these two events. And these are the different criteria of these two major sports games. 2.2: Time of event Olympics game is a major event which held every 4 years. However it is classified into 2 groups which are winter game and summer game. Therefore, in another word, it is held every 2 years but 4 years within their respective games. For example, in the year of 2004, summer Olympics game was held in Athens, Greece. In the year of 2008, it was held in Beijing, China. For winter Olympic game, in the year of 2006, it was held in Turin, Italy. And in the year of 2010, winter Olympic game was held in Vancouver, Canada. (Jennifer Rosenberg 2010) As you can see from the example, Olympics game was held every 2 years. However, many of us only concern on the summer Olympics games but not the winter Olympics games. For Paralympics, it is also the same as Olympics game. And it usually held immediately after the Olympic game. 2. 3: Games Played There are many different kinds of games played in Olympics and Paralympics. Some of the games played are the same but just different ways of playing. The similarities of games played for Olympics and Paralympics is it is categorize as summer and winter games. As an example, the last Olympics which is 2008 Summer Olympics in Beijing, China, there were a total of 28 summer sports. For Olympics Summer Games, categorized sports played on land and water sports. For sports played on land, there is archery, athletics, badminton, basketball, boxing, cycling, fencing, football, handball, tennis, table tennis, volleyball, weightlifting, wrestling, judo, handball, and taekwondo. For water sports, there are swimming, diving, sailing, water polo, synchronized swimming. (Olympics Sports List 2007, online) Paralympics has also the games played in Olympics but the difference is the way of playing. For example instead of basketball, it is wheelchair basketball. Therefore, for Summer Sports Paralympics are archery, athletics, boccia, bowls, cycling, equestrian, football 5-a-Side, football 7-a-Side, goalball, Judo, powerlifting, rowing, sailing, shooting, swimming, table tennis, volleyball, wheelchair basketball, wheelchair dance sport, wheelchair fencing, wheelchair rugby and wheelchair tennis. Moreover, for winter Olympics games, it is categorized in a few categories which is Ice Sports, Alpine, Skiing and Snowboarding Events and Nordic Events. On the other side, Paralympics have only four winter sports which is alpine skiing, ice sledge hockey, nordic skiing, and wheelchair curling. There are only two winter sports which is similar, another two is not played in Olympics winter games. In conclusion, Olympics and Paralympics sports have summer and winter games. Some of the games played are the same but different ways of playing. 2.4: Rules of Sports There are many kinds of sports in Olympics and Paralympics. Every sport has their own rules. There is a few reasons that why the rules are set. The first reason is to make sure that the competition between the athletes must be fair. Another reason is to make sure that no drugs are taken and cheating during the competition. All the rules must be followed by all the athletes strictly. There are a few examples of the rules of sports played in Olympics and Paralympics. Below are the examples of the rules of 3 similar games played in Olympics and Paralympics. Although the games are the same but the rules is different. 2.4.1: Basketball For Olympics, the first sport is basketball. In basketball, there are four quarters in each game. There are 10 minutes per quarter for the four quarters. After the second quarter, there is a half time break. The half time break lasts 15 minutes long. By the end of the quarter, the score of both teams are the same, there will be overtime. This overtime period is an extra period that lasts for 5 minutes. Besides that, in Olympic basketball, the referee can awards two foul shots to a fouled player if the team committing the foul has more than four fouls in the period. (Rules 2007, Online) For basketball in Paralympics, a player can wheel the chair and bounce the ball, if the ball is picked up and placed on the players lap, the player is only allowed to push twice before they shoot, pass or dribble the ball again. Besides that, a player lifting his or her legs to gain an advantage is given a technical foul. On an inbounds play, the offensive player is not allowed to go into the key area until the ball is handed to the bounding player by the referee. (Wheelchair Basketball Rules 2005, online) 2.4.2: Rugby For Olympics, is rugby. In rugby, a player is allowed to carry, pass, kick and ground to score a point for the team. Rugby is also called as an end-zone invasion game. It means that each team focuses on gaining possession of the ball, taking it into the opponents territory, and placing it in the goal area or the end zone to get the score. There are two categories of players. First one is forwards which consist of 8 players and the second one is backs which consist of 7 players.( Basic Rules of Rugby, online) For Paralympics, is wheelchair rugby, it is played by two teams of up to 12 players. Only 4 players from each team may be on the court at any time. For this game, girls and boys can be in the same team to play a game. The court of the wheelchair rugby is 28 meters long and 15 meters wide. The required court markings are a centre line and circle, a key area measuring 8 meters wide and 1.75 meters deep at each end of the court. The goal line is the section of the end line within the key. Players score by carrying the ball across the line. ( IWRF, online) 2.4.3 Volleyball The third sport is volleyball. For volleyball, a team scores a point by grounding the ball on the opposite side of the court. In order to win the game, the team must win three sets of 25 points. Besides that, the four types of sanctions in volleyball. The first one is warning, second one is penalty, third one is expulsion and the last one is disqualified. Another common rule is the blocking rule. Blocking is when a team player attempts to reach higher than the net to intercept a ball, however as a rule only those players on the front line can attempt this play. Otherwise, there will be a penalty.( Volleyball Basic Rules, online) For sitting volleyball, the position of each player is determined and controlled by the position of their bottoms. Their hands and legs may lie in the attack or free zone outside the court. The referees in sitting volleyball must stand to the sides of the court because of the height of the net and the players are in seated position. The referees official hand signal is raising the upper hand and forearm positioned parallel to the floor and mirror imaging the lower hand and forearm. 2. 5: Mission and Vision of Olympics and Paralympics Every Olympics and Paralympics, the missions and vision is different. As a example, the mission and vision for Beijing Olympics is One World, One Dream. This mission and vision is to make the whole world to have the same target and same dream, in order to achieve the target and dream, they have to work together as one. This mission and vision is also use to motivate those athletes to work as hard as they can to achieve their target. (Beijing 2008, Online) For Paralympics, the mission and vision was To Enable Paralympics Athletes to Achieve Sporting Excellence and Inspire and Excite the World. This mission and vision is to make those people who have a disable to gain their confident in doing stuffs. Some of the people who have a disable will give up because of what they are, so they will need this motivation to have their confident back so that they wont feel that they are useless. (Vision Mission Values 2010, Online) For this coming Olympics and Paralympics in 2012, the mission and vision is to stage inspiration Olympics Games and Paralympics Games that capture the imagination of young people around the world and leave a lasting legacy. This mission and vision is to make the new generation to last the sports spirit. (London 2012 Vision for the Olympics 2010, Online) 3.0: Conclusion In conclusion, after comparing and contrast of the criteria, time of event, games played, rules of games and mission and vision of Olympics and Paralympics, there are similarities and differences between Olympics and Paralympics. For the criteria, Olympics and Paralympics has different criteria to achieve. Besides that, for the time for event is held is similar but the only difference is Paralympics is held only after Olympics. For the games played, there are some games is that same sports but just different ways of playing and the similarities is that both Olympics and Paralympics have summer and winter games. Moreover, the rules of the games are totally different although the game is the same. Finally, although both of these events is different but the mission and vision of these events is similar. Olympics and Paralympics are events that challenge athletes all around the world, able-bodied and disabled alike. It is truly an event that helps to ensure personal confidents, dignity and also countries name.

Abortion - Views from Both Sides Essay -- Social Issues

Abortion - Views from Both Sides Abortion is the ending of pregnancy before birth and is morally wrong. An abortion results in the death of an embryo or a fetus. Abortion destroys the lives of helpless, innocent children and is illegal in many countries. By aborting these unborn infants, humans are hurting themselves; they are not allowing themselves to meet these new identities and unique personalities. Abortion is very simply wrong. Everyone is raised knowing the difference between right and wrong. Murder is wrong so why isn’t abortion? People argue that it is not murder since the fetus being destroyed is not living, breathing and moving. Why is it that if an infant is destroyed a month before the birth, there is no problem, but if killed a month after birth, this is inhumane murder? The main purpose abortions are immoral is how they are so viciously done. Everyday, innocent, harmless fetuses that could soon be laughing children are being brutally destroyed. One form of abortion is to cut the fetus into pieces with serrated forceps before being removed, piece by piece from the uterus by suction with a vacuum aspirator. Another form consists of bringing the fetus feet first into the birth canal, puncturing its skull with a sharp instrument and sucking out the brain tissue. The body parts, such as the head, are given letters, rather than refer to the parts as what they are. In my opinion this is for the doctors who cannot face the reality of what they are doing. The re...

Earned Value Management System Essay

Earned Value Management System (EVMS) guiding principles incorporate top business practices to give strong benefits for program or enterprise planning and control. The process includes the incorporation of program scope, schedule, and cost objectives, establishment of a baseline plan for success during the execution of a program. The structure provides a solid foundation for problem recognition, corrective actions, and management replanning if required. This system helps program management integrate the work scope of a program with the schedule and cost elements for most favorable program planning and control. There are three basic elements of earned value management which are: Planned Value (PV) Actual cost (AC) and earned value (EV) each of these elements are used on a standard basis as of a reporting date. Planned value (PV) is the total cost of the work schedule calculated as PV or BCWS=Hourly Rate* Total Hours Planned or Scheduled. Actual cost (AC) is the cost taken to complete the work as of a reporting date calculated as AC or ACWP=Hourly Rate* Total Hours Spent. Earned value (EV) is the total cost of the work completed/performed as of a reporting date calculated as EV or BCWP=Baseline Cost* % Complete Actual. Some of the principles involved with earned valued management system (EVMS) are as follows: * EVMS information is used in the organization’s management processes. * Create a plan for all work scope in the program– from beginning to end. * Have a structured breakdown of the program work scope into set pieces that can be assigned to a liable person or organization for control of technical, schedule, and cost objectives. Utilize actual costs acquired and documented in accomplishing the work performed. * Incorporate program work scope, schedule and cost objectives into a performance measurement baseline plan against which accomplishments may be measured. The fundamental nature of earned value management is that, providing a stage of detail appropriates for the amount of technical, schedule, and cost risk or uncertainty connected with the program, a target planned value (i. e budget) is created for each scheduled element of work. As work is completed, their target planned values are â€Å"earned†. Summing up the earned value management system– it is an efficient project management process used to find variances in projects based on the comparison of work accomplished and work planned. The Gold Card is individual-sheet reference that provides definitions of common Earned Value (EV) terminology. It lists EV metric equations, and labels the most common EV graph. It also summarizes the EVM policy and EVM contracting requirements. At the bottom contact information to the EVM home page is provided. Other elements located on the Gold Card are variances, overall status, DoD metrics, baseline execution index (BEI), estimate at completion number, and complete performance index (TCPI). A structured breakdown of contract prices that branches off all the way down to work packages and planning packages is displayed on the Gold Card. The earned value management Gold Card is a handy reference tool for project managers to use for their own personal use.

UK Property Investment The WritePass Journal

UK Property Investment Executive Summary UK Property Investment , than they were in previous years. Furthermore, although there is still economic stagnation, certain industry sectors such as the services sector are now experiencing growth. The construction sector, however, is still seeing output falling and this may go some way to explaining the reason why the property industry is somewhat holding its own, showing stagnation, but not decline (Chegut, et al 2011). The commercial property industry operates in a slightly different way from the residential property investment industry. Therefore, for the purpose of this analysis, the overall property industry is looked at, with differentiations drawn between the commercial and residential property investment being made where appropriate (Pyhrr, et al 1999) Property investors, essentially, will make their money from either purchasing properties, renovating them in some way and then selling them on for a profit, or from purchasing an investment property and renting it to another on a weekly, monthly or annual return. More properties are finding themselves within the rental market and this is particularly common when it comes to commercial property, where a business may find it more advisable to rent a property so they will not have the initial capital outlay, or the risks associated with purchasing property, particularly the new start-up businesses. Businesses, in general, particularly those on the high street or smaller businesses looking to expand are nervous in the current economic climate and will therefore look towards mitigating their risks by renting property that they can release in the event that funds are not forthcoming. Approximately one half of foreclosure properties are rented, as opposed to one third of all residential pro perty, and when individuals find it hard to purchase property, the rental industry naturally booms. Trends have suggested that certain areas of prime property locations remain very much in demand, despite the economic conditions. For example, property in central London remains popular and buoyant for both residential and commercial purposes (Sing 2004). It is suggested that, overall, while the property market and, in particular, property prices have been relatively stagnant, over the years, there are still positive trends available for investors, with certain regions such as house prices in central London experiencing value growth, and rental income of commercial premises in popular areas also seeing periods of growth as organisations look towards reducing their costs by renting properties, rather than purchasing. Analysis of Industry By undertaking the PEST analysis looking at political, economic, social and technological issues in order to gain a greater understanding can be had of the ways in which the industry is operating. The PEST overview is contained in the appendix and is discussed here, in more detail, and an overview analysis is also provided. It can be seen that, despite the recent economic difficulty that has emerged, with many individuals being forced to sell property due to their inability to meet with mortgage demands, this has actually provided an opportunity for property investors (Lizieri, 2009). Many properties come to the market at below market prices and therefore make perfect targets for the investors. This also creates a broad range of individuals looking to rent properties, as they are unable to purchase. The more stringent lending conditions have therefore provided the property investment market with a growing target group of potential investors who are likely to be able to make the most of the trends in the property market, to ensure that their own investment business is buoyant (RICS. 1993). Opportunities for Graduates Drawing on the above analysis, it can be seen that there are multiple opportunities available to graduates looking to enter into property investment or, indeed, any other individual who may potentially be considering it as a real career option. Firstly, there are the opportunities available within the commercial property investment market, and in particular, looking toward facilitating the demand for the new small businesses which are emerging with government support and grants. As individuals become more likely to set up small businesses following unemployment, facilitating this by offering shared office space provides a good opportunity for new individuals entering the market. Secondly, there are opportunities within the residential property investment market, in terms of making the most of foreclosure properties by purchasing them at a low price and then selling them on, or renting them within the market (Harvey et al 2004). The real opportunities that exist for new graduates are in identifying where the growth areas are going to be both geographically and in terms of the types of properties, and then being able to claim the properties at below market prices. In order to achieve this, the individual will need to be astute and may be able to draw together a large amount of property data, in a relatively short space of time. Gap Analysis The key skills which will be vital for success within the property investment market include the ability to group together economically and to ascertain the likely ways in which prices are going to change, in this area, both geographically and in terms of the property types. This involves the ability to undertake strong economic analysis, including the use of simulation models, which will be a key skill that will enable young graduates to gain a competitive advantage, when entering the industry. Graduates also need to be able to analyse the surrounding sectors, as demand for commercial property, in particular, will reflect how other industries, are performing (Leone and Leger 2008). For example, if the retail industry is weak, then the demand for retail premises is also likely to reflect this. Using economic tools will enable a graduate, to identify potential growth areas and to ensure that they have property available, ahead of the competition. Conclusions The property investment market has generally been showing stagnation, in recent years; yet, the trends also indicate that certain areas of the property investment market are showing opportunities, with some of the negative factors driving the property market downwards, allowing property investors to benefit, such as by purchasing properties that are being sold by mortgage companies, following the failure to meet with lending requirements. Bearing this in mind, individuals looking to enter the property investment market need to have a particularly astute ability to analyse economic conditions; they will also need to understand the driving trends, rather than necessarily being merely knowledgeable in the area of property, in terms of bricks and mortar. References Acclimatise (2009) ‘Managing the unavoidable: Understanding the investment implications of adapting to climate change – UK commercial property’, Oxford: Acclimatise. Available at: www.acclimatise.uk.com/resources/reports British Property Federation (2011). IPD Annual Lease Review 2011 Chegut, A., Eichholtz, P., Kok, N. (2011). Supply, Demand, and the Value of Green Buildings. Working Paper, Maastricht Universiy, December 2011. Harvey A, Koopman S J and Shephard N (2004) State space and unobserved components models: theory and applications, Cambridge: Cambridge U P. Leone V and Leger L (2008) ‘Generating innovations in economic variables’, Applied Financial Economics Letters, 1-7. Lizieri, C. (2009) Towers of Capital: Office Markets and International Financial Services. 1st.ed.,Wiley-Blackwell, UK, pp. 344. Pyhrr, S.A., Roulac, S.E. and Born, W.L. (1999) Real Estate Cycles and Their Strategic Implications for Investors and Portfolio Managers in the Global Economy. Journal of Real Estate Research, Vol.18, No.1, pp.7–62. RICS (1993) Understanding the Property Cycle. Working Paper Two: A Literature Review. The Royal Institution of Chartered Surveyors, London, pp.47. Simpson M W, Ramchander S and Webb J R (2008) ‘The asymmetric response of equity REIT returns to inflation’, Journal of Real Estate Finance and Economics,34, 513-529. Sing T F (2004) ‘Common risk factors and risk premia in direct and securitized real estate markets’, Journal of Property Research, 21, 189-207. Appendix Political The government and political situation is definitely looking towards stimulating growth within the property market and, as such, is considering ways of making it easier for developers to establish new property, both residential and commercial. In particular, there is evidence of political movements towards ensuring that the lower end of the market is revitalised to encourage first-time buyers. This will have an impact on property investors focusing on rental opportunities, as the easier it becomes to purchase, the less likely they will be to obtain rental income. There are also political efforts being made to encourage new businesses and this can be seen to be a positive option for commercial property investors, as new businesses will be more inclined to rent property and this will be more cost-effective, initially, and will allow the opportunity to grow rapidly, if they so choose. Economic The economic availability of mortgages and the reduction in the ability of individuals to borrow money, in order to purchase property, either residential or commercial will have a direct bearing on the property investment market. Property investors will have a much more willing customer base, as they have been unable to obtain sufficient finance to purchase their own property and are therefore looking towards rental property as an alternative. The more difficult economic times have resulted in many residential and commercial owners losing their premises, as a result of their inability to pay their mortgages and this also offers the opportunity for property investors who have sufficient cash reserves to purchase property at below market prices (Acclimatise 2009). Social Social changes and, more specifically, changes within the employment market also tend to encourage individuals to go into businesses and become self-employed, which ultimately provides an opportunity for the commercial property investors who are able to purchase premises that may be suitable for the new small start businesses. There is also a changing demographic trend for more single-parent families that are smaller and the increase in independent living within the older generation, thus placing a greater demand on rental premises that are smaller and will reflect the changing demographic (RICS 1993). Technological Technological drivers provide both opportunities and progress within the property investment market. Whilst this allows property investors to have a much greater access to potential customers, it also means that their customers have much greater access to the competition. Therefore, there is a need for organisations offering property investment services, such as rental property, to utilise technology in order to capture the broadest possible audience. Technology has also shifted the way which organisations are operating this has resulted in many cases of individuals working from home, or working from shared spaces, thus reducing the demand for traditional commercial premises (Simpson et al 2008).