Actual Yield Definition (Chemistry)

Actual Yield Definition (Chemistry) Actual Yield Definition The actual yield is the quantity of a product that is obtained from a chemical reaction. In contrast, the calculated or theoretical yield  is the amount of product that could be obtained from a reaction if all of the reactant converted to product. Theoretical yield is based on the limiting reactant. Common Misspelling: actual yeild Why Is Actual Yield Different from Theoretical Yield? Usually, the actual yield is lower than the theoretical yield because few reactions truly proceed to completion (i.e., arent 100% efficient) or because not all of the product in a reaction is recovered. For example, if you are recovering a product that is a precipitate, you may lose some product if it doesnt completely fall out of solution. If you filter the solution through filter paper, some product may remain on the filter or make its way through the mesh and wash away. If you rinse the product, a small amount of it may be lost from dissolving in the solvent, even if the product is insoluble in that solvent. Its also possible for the actual yield to be more than the theoretical yield. This tends to occur most often if solvent is still present in the product (incomplete drying), from error weighing the product, or perhaps because an unaccounted substance in the reaction acted as a catalyst or also led to product formation. Another reason for higher yield is that the product is impure, due to the presence of another substance besides the solvent. Actual Yield and Percent Yield The relationship between actual yield and theoretical yield is used to calculate percent yield: percent yields actual yield / theoretical yield x 100%

Critical Thinking Essays - Thought, Epistemology, Free Essays

Critical Thinking Essays - Thought, Epistemology, Free Essays Critical Thinking Critical thinking would be important to the well being of our society for many reasons except for the fact that hardly anyone ever uses it. If people used critical thinking all the time society would be a very different place. People would actually think about what they were going to say and what it means before they said it. It would prevent a lot of conflict because people would stop themselves from saying ignorant and offensive things. Also people would not be as easily influenced by the media and other peoples opinions because they would think about the message behind them. Society as a whole is so quick to believe what the media and/or people of authority have to say that they hardly ever take the time to consider other options. People would be much more likely to form their own opinions and stick to them with information and facts to back it up. I think that people in society would get along better if they took the time to use critical thinking. Even though almost nothing but positive things would come out of everyone thinking critically it will never happen because of the way society is. People are much more likely to follow someone elses opinion then to take the time to come up with their own.

What are the implications of differences between reporting by IFRS and Essay

What are the implications of differences between reporting by IFRS and US GAAP reporting by UK Investment banks and US GAAP reporting by US investment banks - Essay Example The report includes an analysis of financial statements of Merrill Lynch and Investec which are in the investment banking industry operating on different sides of the hemisphere. The history of the European investment banking industry dates back to the 1700’s when London was the major city for investment banking activity. The United States after it was founded in the late part of the 18th century attracted a lot of European entrepreneurs and investors which later enjoyed a great surplus of a diversified workforce, which contributed to the creation of the richest nation in the world. The United States had taken the lead in the 20th century to build the best and most sophisticated financial system (SEC) based on Generally Accepted Accounting Principles (GAAP). This gained early experience in the emerging industry and obtained the greatest market share of equity selling volume in the world. European nations solidified the investment banking industry at the turn of the 21st century. This study analyses the differences between GAAP and IFRS in investment banking affairs in order to compare and contrast the systems. Moreover, the impact of differing policies on decision making is further explored. The research is broken down into seven parts: The problem statement, research objectives, literature review, and importance of the study, research design/methodology, schedule and conclusion. The current state of the industry as well as the future trends is discussed throughout the paper. The investment banking practices in Europe and the United States do not follow the same procedures and regulations because the GAAP and IFRS frameworks utilised in each continental region differ. This affects company and capital investor’s worldwide. For example if a USA based company wishes to sell its shares in a European stock exchange such as the

Food Retail Assignment Example | Topics and Well Written Essays - 2000 words

Food Retail - Assignment Example Given the trend toward globalization and international expansion of markets, modern retailers are faced with increasing competition as well as the need to expand their products and services to appeal to broader market segments. This process is requiring retail grocers to identify and target specific ethnic market segments. In the same way that US retailers have successfully targeted Hispanic consumers, international retail grocery companies such as Tesco must focus on diversifying their product line and successfully marketing to significant segments such as the Muslim community. According to the company, Tesco is one of the world's leading international food retailers with over 2500 stores worldwide and a commitment to long-term growth (Tesco: At a Glance, 2006: 1). In fact, it has been called the "success story" of British supermarket retailing whose industry leadership has been widely accepted (Kacker & Sternquist, 1994: 202). This places the organization at the forefront of market development because its broad reach locates it's outlets in many different markets with an extremely diverse customer base. In those areas which have high concentrations of devout Muslims, this means offering a product line that comports with the strict dietary laws known as Halal. There is no doubt about the fact that the Muslim community has significant economic power; in France, it is estimated that if the 60 million Muslims who reside there would consume and purchase only Halal meat, the product could account for 10% to 15% of the French national meat market (Kutschera, 199 6: 40). Given Tesco's stated corporate responsibility policy, which notes the organization's intent to appeal to customers across many social and economic ranges as well as use their size and success as a force for good in playing an important role in local communities, Tesco has given itself no choice but to develop products that will appeal to this constituency (Tesco: Corporate Responsibility, 2005: 1). The concept of Halal, which means "acceptable," is to the Muslim community what Kosher is to the Jewish community. It is a set of dietary laws which prescribe the manner in which foods are processed prior to being consumed, and there is increasing Muslim demand for the provision of these products (Haddad & Lummis, 1987: 20). In fact, making acceptable food available to devout Muslims is so important that many European countries are now including it as part of the food services available in public institutions such as schools and hospitals; and if they cannot find it elsewhere, many Muslims will purchase their meat from Jewish shops because of

Bowlbys research Essay Example for Free

Bowlbys research Essay The maternal deprivation hypothesis was developed in post second world wartime and Bowlbys research was based on children that were extremely traumatized, having possibly lost both parents at war. As a result a lot of children ended up in institutions which more than likely had substandard conditions and numerous untrained carers. It is very important to bear in mind the context of that time as there was a national need for family life to be recreated and stabilised after the war. Thus, Bowlbys maternal deprivation hypothesis was interpreted as an opposition to the employment of women with young children and therefore the use of day-care facilities. It is important to acknowledge that Bowlby was primarily concerned with the welfare of children and that his theory of maternal deprivation played a huge role in reforming child care practices by pointing out the damaging effect of been cared for by numerous staff. In the years since however, the maternal deprivation hypothesis has been largely discredited in light of subsequent research which suggests that some separation, for example some time in a high quality day-care, may not necessarily have long-term effects on future relationships. Bowlbys monotropic model of attachment has also been highly criticised as recent evidence is revealing that children do form attachments with more than one adult, in particular with fathers, siblings and other adult carers with whom they have developed a stable relationship. Research has shown that children generally favour their fathers company to the company of a stranger. According to Lewis (1986) the attachment bond between a father and child is dependant on the quality of their relationship, that is, a child with a sensitive father that is focused on their needs will develop a stronger attachment bond with them. Nonetheless, in times of distress infants are more likely to seek out the comfort of their mother over their father (Lamb, 1981). Given the changing times and the steady increase in the proportion of working mothers, it is necessary to focus more on the effects of multiple attachments and specifically to the childs relationship with adult caregivers other than parents and relatives. Studies however, carried out by Tizard and Rees (1975) and Tizard and Hodges (1978) caution that while children can be cared for and attached to more than one adult, having a large number of caregivers may have an adverse effect on their ability to develop close relationships. Bowlbys maternal deprivation hypothesis was further developed by the work of Mary Ainsworth (1969), who devised a method for observing and assessing the attachment behaviour babies display towards their mothers/caregivers. This is known as the Strange Situation (ED209 TV4 programme) and is essentially a method for measuring a one year-olds attachment to its mother and assessing how the child reacts to separation and more importantly to reunion with its mother when placed in a slightly stressful situation. Briefly, the experiment involves taking mother and child to a strange room and observing the childs responses to the introduction of a stranger, the mothers departure, reunion with the mother, leaving the child alone for a few minutes in the room (most stressful event), and leaving the child alone with the stranger. Researchers classify the maternal-child attachment relationship based on the childs behaviour during reunion with the mother. Ainsworth suggests that attachment relations fall into three categories: securely attached, insecure-avoidant and insecure-ambivalent infants. Sometimes an additional category (disorganised) has been used. According to Ainsworth securely attached infants explore freely when their mother is present and use her as a secure base when a stranger appears. They greet her warmly on reunion and show a clear preference for her over the stranger. Children who do not behave this way, for example by clinging (insecure-ambivalent) or been more detached (insecure-avoidant) during reunion with their mother, are described as insecurely attached. Ainsworth et al (1978) believed that children who are separated from their mother, for example children who attend day-care, are likely to form insecure attachments. This is supported by Belsky (1988) who, it is interesting to note, revised his conclusions regarding the consequences of placing children in non-maternal day-care. Initially, he believed that day care did not effect a childs attachment to his/her mother, however subsequently in his review of a number of US studies, he concluded that children who are subjected to more than twenty hours a week of non-maternal day-care in their first year of life are at risk of developing insecure attachments. It is important to note that although the strange situation technique has been widely used by Belsky and others to assess the quality of a childs attachment to its caregiver, it may not however be the best method for comparing children who experience day care with those who do not. Belskys conclusions regarding day-care have been disputed by Clark-Stewart (1988) who argues that the differences in attachment styles between infants attending non-maternal day-care for less than twenty hours a week and more than 20 hours a week are not large enough to conclude that working mothers put their children at risk of suffering from psychological problems. Furthermore, she points out that children who attend day care are used to separation and therefore react differently on reunion with their mothers than children who are with their mothers all day. Thus, children may appear detached not because they are insecure but because they are more independent and more accustomed to been separated from their mother (Clark-Stewart, 1988) . Like Bowlby, Ainsworth believed in a universal model of attachment however, evidence from cross-cultural research on secure and insecure attachments carried out by Van Ijzendoorn and Kroonenberg (1988) revealed cultural differences in the mother-child relationship. This evidence questions the validity of using the strange situation method to measure and compare attachment in different cultures. For example, children from Japan showed intense distress in the strange situation when separated from their mother, as in their culture children are never left alone at twelve months. These cultural differences highlight the importance of moving away from a universal model of attachment towards a more cultural perspective. Bowlbys ethnocentric perspective, which sees the biological mother as the all-important person for the infants first attachment, has received a lot of criticism and has been branded as a Western cultural construction by some psychologists. It is interesting to note that out of 186 non-industrial societies Weisner and Gallimore (1977) found that, in only five of these societies was the child (almost) solely looked after by the mother! Moreover, research carried out in different countries showed the grandmother as having a special and unique attachment to the child due to her long life experience and wisdom (Tyszowka, 1991) thereby lending support to a more polyadic model of attachment.

GDP vs Life Expectancy of Countries

GDP vs Life Expectancy of Countries We have chosen to discuss the relationship between GDP per capita vs. life expectancy at birth.   At first glance, it would appear that the GDP and wealth of a country should directly impact the life expectancy of its citizens.   However, when looking at the graph we see that while there is definitely a correlation between GDP and life expectancy, their relationship isnt linear.   This graph shows that the countries which have a GDP of less than $10000 USD per capita have a life expectancy ranging from 45-80 years.   In addition, the countries with a GDP of $15000- $40000 per capita have a relatively steady life expectancy of about 80 years with a slight decrease as the GDP approaches $40000.   This gives the graph a backwards L shape which is referred to as a Preston Curve1. In the poorer half of the world, the life expectancy ranges drastically between 45-80 years.   The countries with the lowest life expectancy are almost always affected by their GDP.   When a country has a low GDP, the citizens dont have enough money for essentials to survive.   They are forced to buy the cheapest foods which dont have the proper amounts of nutrients required to live long, healthy lives.   Likewise, these governments usually do not have enough money to support and aid these citizens.   Additionally, countries with low GDP tend to have poor health care systems to treat the terminally ill.   This issue is exacerbated in these places because the poorer countries are more likely to stricken with serious, potentially life threatening diseases like HIV.   On the other hand, many countries with low GDPs have a very high life expectancy.   One possible explanation for this phenomenon is that these countries are heavily involved in farming and agriculture.   Thus, they have easy, cheap access to healthy food and other essentials to survive while not contributing much to the GDP2.   Another possible conjecture is that these countries have many citizens that are involved in illegal smuggling.   A prime example is Mexico which has a GDP of a mere $6228 USD per capita coupled with a respectable life expectancy of 76 years.   These people can become very wealthy and live elegant, plentiful lives while contributing $0 to the GDP as much of their incomes is not reported because they do everything under the table.   A third explanation why some countries have a high life expectancy despite a low GDP is because its government strongly prioritizes needs over wants.   Cuba is a good example of this.   They have a very strong social support network that provides health coverage, government pensions and economic support to poor families3.   While poor countries are definitely impacted by low GDP, they have many ways to live long lives without too much money.   In the wealthier half of the world, life expectancy has remained steady at 80 years with a minor drop at the highest GDP levels.   There are many ideas to explain the steadiness in this part of the world.   Firstly, people in the top quarter of the world usually dont spend more on essentials than the second quarter of people.   They tend to spend more on wants such as fancy cars, vacations, electronics, etc.   Hence, the second quarter isnt lacking in any essentials that the first quarter has that would affect their life expectancy.   Additionally, almost all governments in the top half of the world have excellent social and health services.   Thus, even the poor in these countries receive appropriate and suitable care.   However, as we approach the richest countries, the graph takes a slight dip down.   Some statisticians believe that there is nothing concrete to suggest any definitive reasons for this.   However, some try to explain this phenomenon.   Firstl y, people with a high income are more susceptible to traffic fatalities as they are usually on the road more often.   Similarly, they have the means to participate in risky, thrill seeking and expensive activities like sky diving.   These people also tend to drink more which can lead to all sorts of illnesses.  Ã‚   Another explanation given is pollution.   The richest countries are the ones with the resources to produce high amounts of pollution.   It has been proven that young children are especially susceptible to this.  Ã‚   Economists Kenneth Chay and Michael Greenstone think that the 1981-1982 oil shock recession may have saved as many as 2,500 infant lives in the United States through the slight reductions in air pollution caused by the reduced economic activity4.   To summarize, although there is definitely a connection between high GDP and long lives, the relationship isnt perfect. As with any study, it is very difficult to distinguish between correlation and causation.   Does A cause B? Or does B cause A? Is there a confounding or mediating factor? The relationship between GDP and life expectancy is no exception.   While we cant definitively prove that there is a causal effect, there is a strong correlation.   As a result, it is incumbent on the governments in countries to with low life expectancy to take steps to increase the life expectancy of their citizens. Some examples include but are not limited to educational programs and food vouchers. It is our fervent hope that one day the life expectancy across the globe will be similar regardless of financial status. https://en.wikipedia.org/wiki/Preston_curve http://www.statisticalconsultants.co.nz/blog/life-expectancy-at-birth-versus-gdp-per-capita-ppp.html http://financialnerd.com/relationship-life-span-gdp-per-capita/ https://www.weforum.org/agenda/2016/10/the-relationship-between-gdp-and-life-expectancy-isnt-as-simple-as-you-might-think

Hu300 Unit 7 Views on Happiness

Views on Happiness Charlotte Briscoe HU 300 Kaplan University ? What Happiness means to others The first person I interviewed was a close friend of mine named Gabrielle Hine. She is twenty three years old and we went to high school together. We have been friends since we were both thirteen years old and actually she entered the school a few months before me. We tend to have very similar taste in everything from food down to music and clothes, it does tend to get quite freaky at times. The second person I interviewed was my neighbour Natalie Goodwin. She is a thirty three year old single mom with four kids.I have passed her a few times in the hall as we live on the same floor but she live in one direction and I the other. We mostly talk about our children or the loud noises on the street. Before asking to interview her I really did not know much about her or her background. Interview with Gabrielle Question: How would you define Happiness? Response: Happiness for me is getting time to spend with my close friends and family. The time when I am at my happiest is when I am back home spending quality time with my twin sisters. Living so far away I don’t get to be a big sister to them much so any time we do have is cherish able.Question: Has your definition of Happiness changed over time? Response: Yes my definition of Happiness has changed with my age. When I was a teenager my definition of happiness relied upon boys and make up. If a boy I fancied liked me back that made me one of the happiest teenagers around. Question: What experiences have influenced your definition? Response: I guess you could say time and age have influenced my definition. Not only these factors but the loss of a close family member has also made me realise that family and time spent with them really is important.Question: Do you expect your definition to change in the future? Response: Yes I can say that this definition will change when I have kids and when my children have their child ren. Question: What is your happiest memory to date? Response: That is a hard question but probably the day my twin sisters asked me advice about boys. This memory reminds me so much of when I was their age. It made me so happy to think they value my advice and opinions. (G. Hine, Personal Communication, October 7th 2012) Interview with Natalie Question: How would you define Happiness? Response: That is simple my children are my whole world.Everything they do brings happiness to me. Question: Has your definition of Happiness changed over time? Response: Yes with the birth of each of my children the happiness I experience grows more and more. Sure bad things have happened to me in the past but my children are my true reason for living and breathing each day. Question: What experiences have influenced your definition? Response: I would have to say the sole influence at this time is my children and I’m sure one day I will have grandchildren too. Question: Do you expect your defi nition to change in the future?Response: Yes I expect that it will change with time and with the birth of my grandchildren in the years to come. Question: What is your happiest memory to date? Response: My happiest memory to date was probably the birth of my oldest she is now 13 years old. She helped me in so many ways to become an adult and take responsibility for someone other than myself. I remember I was so scared to give birth but once she was brought to me and in my arms it’s like nothing I had ever experienced before. (N. Goodwin, Personal Communication, October 7th 2012) ? Understanding HappinessCharlotte Briscoe HU300 Kaplan University Happiness often means different things to different individuals and often individuals have different definitions of what happiness means to them. Some people define happiness as the pleasures we experience in our life this is what’s known as ‘Hedonism’. ‘Aristippus a Greek philosopher declared happiness to be the sum total of pleasures experienced during one’s life time’ (Janaro & Altshuler, 2009). Whilst some people believe happiness is defined by pleasures of life others believe that it is the avoidance of pain otherwise known as ‘Epicureanism’.The two people I interviewed defined happiness as spending time with their loved ones. This could fall under the category of ‘Hedonism’ since both of them state that spending time with their family is what makes them happy thus it could be labelled as a source of pleasure in their life. Both Gabrielle and Natalie state their happiness has everything to do with their family. In the case of Gabrielle it is her twin sisters and close friends whom are the definition of happiness for her, however this will more than likely change when she has children. On the other hand for Natalie it is her children whom define her happiness.She equates her happiness to spending time with her kids and the everyday activities t hat are involved with parenting. Both of these ladies know that family is precious and even though we may not see them for a while certainly in the case of Gabrielle it makes the time she spends with them special. Appreciating and loving family makes so many things in this world worthwhile. To share a life with family should be counted as one of life’s great pleasures. While both ladies have similar ideals about what their definition of happiness is it could be said that both these views will more than likely change and adapt as time goes past. Aristotelianism is defined as happiness as the quality of a whole life time. ’ â€Å"Happiness is the purpose for which we live. Aristotle concluded that happiness is not a moment to moment experience of pleasurable things but rather a way of characterizing how one’s life is being conducted. Happiness is living and having lived a good life†. (Janaro & Altshuler, 2009) While it could be said this definition of happi ness does not fit with the majority of individuals ideals of happiness it is actually quite interesting.Most elderly people who are terminally ill or just dying of old age will often say â€Å"I am happy; I have lived a good life. † Therefore it could be said that ‘Aristotelianism’ is an accurate definition of happiness certainly for that generation. We define and decide what makes us happy, we have a choice and freedom to decide if something makes us happy or not. Although definitions for happiness changes from person to person and culture to culture the ideals will be similar.What I mean by this is that a person living in America has the right to decide what makes them happy the same as a person living in Nepal. Their definitions will be slightly different and one probably more complex than the other but there is freedom to choose what makes individuals happy. This freedom in its self may add to the individual’s definition of what makes them happy. ? Ref erences Janaro R. P. & Altshuler T. C. (2009). The Art of Being Human: The humanities as a technique for living (Kaplan University Custom 2nd Ed. ). New York: Pearson Education, Inc.

High Museum Project

I chose to do my review project in â€Å"The High Museum†, in Atlanta GA. It was found in 1905 and its very first name was Atlanta Art Association. Also it is the one of the most visited art museum in the world. While, visiting High museum, I was drawn to two particular pieces from two very different artists. The Chest and drawers by Teyo Remy, gained my attention because of creative design and deep meaning. My other favorite piece is â€Å"The beginning of Life in the Yellow Jungle†, by Thorton Dial. I will be comparing two artist from Modern and Contemporary Art period.Teyo Remy was part of a group of young Dutch designers who came to the forefront of the international design scene with works that had a political awareness and also sense of humor. Chest and drawers piece was design in 1991, which was based on twenty drawers which each of those had a story with them. Very first drawer represents a jewelry box that was a gift to the young woman from the father. The enti re piece is held together by a furniture mowers strap that represents nature of life. Basically a strap would be a reference of us humans holding on the important things in life that matter to us.The reason I like this is because it connects to me with memories of my past and experiences I went through. To me, each drawer represents a memory in my life that has thought me to make better decisions in the future. I also like this design of art because it is amazes me how Teyo Remy managed to make a design that held twenty drawers together and none of them fell off. The color selections of the drawers are matte and plain colored that you see in your everyday life. This was a good selection because it made the piece more relatable. â€Å"You Can’t Lay Down Your Memory†, is a perfect title for this design as it shows the importance of past.Thorton Dial was born in 1928, Emelle, Alabama. He endured a life of poverty and hard labor. This self-taught artist has made astonishin g master pieces that represent history, politics, and power. He overcame many obstacles such as being illiterate, coming from poverty, and he also had a late start as an artist in his fifties. One of his famous pieces is â€Å"The Beginning of Life in the Yellow Jungle†, designed in 2003. Some of the materials he used for that particular design are plastic soda bottles, doll, clothing, bedding, wire, found metal, and rubber glove.Yellow color represent coming together of all â€Å"races† and working with each other in peace. Plastic soda bottles represent a new born that is innocent and pure in this world of chaos. The reason I chose this artwork is because initially it looked very disturbing, distorted, and mysterious. After a few minutes of looking at it, it began to speak to me. I begin to realize what Dial was trying say. To me this art represents a brighter side of the future. Through many life’s struggles and hardships I endured, there seems to always be a greater hope for better life.I also believe that this represent the beauty in struggles we encounter in our lives. In comparison, these two artists are very different but yet share a similar view on life. They come from very different backgrounds but these two particular pieces have an underlined connection. Dial basis his work on his experiences which are captured in his memory. He is able to express his views, struggles, and experiences from his past. On the other hand, Remy’s chest of drawers represents each of his memory in a tight space of drawers. And also, memories can be used as a stepping stone in a pathway to a greater life.

Fdi In The Indian Aviation Industry Tourism Essays

Fdi In The Indian Aviation Industry Tourism Essays Fdi In The Indian Aviation Industry Tourism Essay Fdi In The Indian Aviation Industry Tourism Essay The premier intent of this undertaking was to understand the direction schemes employed in the low cost aircraft bearer concern, every bit good as to reply some inquiries related to this industry like ; how has the recent economic lag affected this industry? Why is it that some companies have fared better than the remainder? Are the Indian LCC industry criterions different from that in other states? The recent Kingfisher debacle will besides be scrutinized. How and what could they ( Kingfisher ) have done otherwise in footings of concern schemes? Are at that place any heuristics that can be applied to the industry in India in general? Scope The range of this undertaking was limited to the LCC operations in India, with some mentions being drawn from international operators every bit good. The primary purpose was to analyze the concern schemes employed in the industry, furthermore an thorough survey of the full LCC operations, globally and their concern schemes were non executable in the given clip frame. DATA COLLECTION METHOD The primary beginning of information was information from some beginnings in the air power industry. The chronologically collated files contained all the information about the companies, their fiscal minutess, balance sheets and gross informations. Apart from this, some treatments were held with a Senior Manager of the Airport in Chennai. The Senior Manager gave an overview of each country in the airdrome and how LCC were different from premium bearers and the general tendencies noticed in an airdrome with regard to backing of LCC and so on. : The secondary beginnings of information were obtained from assorted documents on the same country of research. Diaries and research documents were used to analyse the current degree of research in the country. Web sites were used for cardinal apprehension of assorted nomenclatures and slang used in the LCC industry. PROJECT OUTLINE The undertaking focusses on the Low cost bearer services presently providing in India. The major focal point of the survey would be on their concern schemes, and how the LCC concern caught on in India. This is of importance as the air hose industry in India is on a complete downward swing due to the planetary economic crisis, in malice of this some LCC in India have managed a bend about and gone on to do healthy net incomes. At the same clip some other bearers have failed miserably in the quest to sharply spread out. A critical analysis of the full KINGFISHER debacle would be done and the consequences and recommendations of the survey would assist different LCC services to better understand the Indian air hose industry. Restriction The survey was conducted on a really little group of LCC ( those in India ) and most of the consequences, treatments and analysis are based on my position point of the current scenario in India and as a individual who does nt go a batch by air they may non be perfect and may or may non be applicable to all LCC, in fact the recommendations given may merely be applicable to the consideration set. It is in order to countervail this restriction that I have incorporated a twosome of international LCC and their concern schemes into this study. LITERATURE SURVEY 2.1 ABOUT THE BUSINESS Any air hose service that has in general a lower cost or menus and fewer amenitiess when compared to any regular air hose service possibly referred to as a Low Cost Carrier. It is of import that this service non be mixed up with local flights that ply for short continuance and hence do non offer a batch of on on-board services. As expected this scheme of take downing the cost of the airfare is traveling to take a ball out of their gross and to do up for the same they about ever charge excess for standard characteristics like nutrient on-board, precedence embarkation, transporting of excess luggage and besides for taking desired seats on the flight. This will be discussed in item during the class of the paper. These are some of the features that set LCC apart from the remainder of the air hose industry. At a clip when winging was a manner of conveyance reserved for the rich and celebrated ( 1950 1975 ) , few companies ( notably Southwest Airline ) started selling cheaper tickets at unthinkably low menus, they managed to make this by cutting costs and running a more efficient concern theoretical account. This led to the coming of the budget or low cost bearer theoretical account. The concern theoretical account adopted by Southwest air hose has since become the empirical theoretical account for the full LCC industry. For several old ages different LCC around the universe have stuck to the tested and tried theoretical account of Southwest air hoses. In recent times, due to lifting costs and increased competition in the air hose industry, little amendments have been made to the Southwest air hoses concern theoretical account in order that the other LCC survive the industry. The air hose deregulating act passed in 1978 by the authorities of the United States marked the coming of the LCC concern. This act allowed new participants into the market every bit good as giving them the power to put their ain monetary values. It is of import to observe that 60 65 % of the cost for air hoses come from external factors this means a batch of the cost ca nt truly be controlled. A generic interruption up of this cost would be 40 % for fuel, 12 15 % cost of care and another 12 15 % as the cost of ownership. The LCC concern participants hence need to cut costs in some other avenue and they found the beginning in in air services. INTRODUCTION AND BRIEF HISTORY FROM AROUND THE WORLD The construct of a low cost air hose was started in the 1970ss by the American domestic bearer Southwest with the exclusive aim of offering inexpensive airfares to the consumers. This created a state of affairs where already established flag ship bearers or bequest air hoses to lose a important sum of the market portion to these freshly formed low cost air hoses, strictly because of their ability to bear down a lower monetary value over traditional full cost air hoses. NORTH AMERICA From the deregulating in the 1970 s till the early 2000 s the transmutation of the low cost construct in the United States can merely be described as a series of inventions, proliferations and consolidations where many other low cost air hoses ( e.g. Pacific Southwest, New York Air, Jet America ) entered the market of which, some survived the competition and others did non. This besides caused some of the major bearers to get down their ain subordinates under the low cost streamer in order to recover their lost market portion. Europe In Europe the low cost construct was originated in the UK and Ireland based on the Southwest theoretical account with the debut of easyJet and Ryanair in 1995. Their success was attributed to the favorable economic model that encouraged the low cost air hose industry. For illustration, the deregulating allowed air hoses of member provinces to run domestically within the European Union. Another Example is low charges at underused airdromes which increased the rider Numberss traveling into those airdromes and eventually, their direct gross revenues attack utilizing the cyberspace and call Centres. AUSTRALIA/ NEW ZEALAND After the deregulating of the Australian domestic market in the early 1890ss, air hoses such as Compass Airlines and compass Mk II started low cost operations. However they were absorbed into the Qantas group as a consequence of the fiscal strength Qantas had over the low cost air hose. The lone important low cost invention came in the signifier of virgin blue which still continues to run today. In New Zealand, although the deregulating motion was implemented in 1984, low cost operations did non get down until 1995. However, unlike most other states it was nt in the domestic sector but short draw trans-Tasman flights, started by Kiwi Airlines. The response for this by the New Zealand flag ship bearer Air New Zealand was to make their ain subordinate Freedom Air to derive a market portion in the low cost air hose sector. Unfortunately, this creative activity of Freedom Air combined with the force per unit area from Qantas drove Kiwi Airlines out of the market. However, Deregulation within New Zealand has meant that new entrants and peculiarly big air hoses with significant capital are seeing New Zealand as an attractive market to come in and are sing the domestic and Trans-Tasman paths as possible gross earners ( Francis et al, 2005, p.89 ) . Today, an outgrowth of low cost bearer Virgin Blue operates Trans-Tasman paths under the streamer Pacific Blue. Asia In Asia, it was ever thought that the tight authorities control and limitations implemented will non let favorable conditions for low cost air hoses to thrive. However the rapid demographic and economic advancement combined with engorged hub airdromes aboard underutilised airdromes and the demand for authoritiess of those states to advance touristry and trade outside the capital metropoliss influenced in the conveying the low cost construct to the continent of Asia. Sing the success of some of the European air hoses such as easyJet and Ryanair, Malaysian bearer Air Asia started low cost domestic operations in 2001 based on the South West theoretical account. Other subordinate air hoses such as Tiger Airways and ValuAir have besides started operations and are still in service today. AN OVERVIEW Low COST CARRIER STRATEGIES The full LCC construct is based on a really simple thought. They do non concentrate on rider segregation ; on the reverse they use seats that are placed really near to each other, which in bend create more capacity. While purchasing the ticket, the rider pays merely for the place on a LCC, all the other services on board come at a monetary value. There are even a few short distance flights in Europe by RYANAIR another LCC that charges the riders for utilizing the lavatory on board. All the low cost bearers in general make their mark audience the leisure traveler and non concern riders. Another normally used scheme is differential pricing, seats are about ever sold on a first semen, foremost function footing and as the no of seats on peculiar paths keep make fulling up the monetary values automatically starts traveling upwards. Another of import facet of the low cost air hose industry is its heavy dependance on advertizements and public dealingss. In Europe, there was enormous promotion from the media for RYANAIRS proclamation that its seats cost every bit small as 1 penny, a similar scene was noticed in India at the clip when LCC were come ining into the market, tickets were so offered sans revenue enhancement at Rs. 1 500. An of import characteristic that allows for such low pricing is COST CUTTING. This is where LCC excel. Several different LCC air hoses have developed clever and advanced methods of cost film editing. Some of them are briefly explained below. Single theoretical account of aircraft: Though this may at first seem undistinguished, over clip the cost salvaging due to this move is enormous. The usage of a individual theoretical account of aircraft drastically reduces care costs. The demand for extremely qualified applied scientists who are up to day of the month in the latest types of air hose engineering ( which in bend means higher employee wage bundles ) is besides non mandatory. To farther increase the benefits, these aircrafts are either bought or leashed in majority volumes. Operate from secondary airdromes: This is a common phenomenon for LCC around the universe. The low cost bearers normally land and take off from secondary airdromes that are near to metropoliss. This greatly reduces the charges that they need to pay to the airdrome governments every bit good as well cut downing turnaround times at the airdromes. This besides means they do non necessitate to wait nightlong at foreign finish, taking in bend to overtime wage to their employees. Point to Indicate Model: Most LCC air hoses operate on a point to indicate theoretical account this is said to greatly better aircraft use every bit good as cut down waiting times. Besides it besides negates the demand to pay dues to multiple airdromes. Single Class Configurations: Most LCC air hoses merely have a individual category of service ( Economy ) . They do non concentrate on the concern category as it is non frequently that they are traveling to be serving concern travelers, besides this besides greatly reduces the demand for a larger crew on board. Even in malice of this alteration, the low cost bearers employ a far smaller crew when compared to regular aircrafts. No inflight services and Ancillary Grosss: This is another of import facet of their concern theoretical account ; it besides defines the Low cost bearer concern theoretical account. There are none of the on board services like free food/water/snacks as on regular flights. Almost every service on board demands to be paid for and bought. This besides in bend turns out to be a great beginning of accessory gross. All nutrient and services sold on board are a beginning of gross. Use of a Less Senior Crew: The usage of a less senior crew greatly reduces cost of operations as experient pilots and pursers command unbelievable wage bundles. They do non travel over a certain bound when it comes to employee wage bundles so when pilots gain more experience they constantly leave and move to greener grazing lands. Use of E-Ticketing: Another notably Omni-present characteristic across LCC around the universe is the on-line ticketing theoretical account. It is by and large considered that the costs associated with purchasing a ticket at a physical counter costs around 4.5 $ where as an e-ticket purchased on-line merely costs 1.5 $ . This once more created room for the LCC to cut down costs. Distribution costs, on norm, can account for every bit much as 17 % of an air hose s entire operating costs ( Alamdari A ; Fagan, 2005, p. 383 ) . Fuel Price: Another of import cost cutting scheme of Low cost bearer s universe over is to purchase fuel in big measures when the monetary values are low thereby ensuing in important nest eggs as and when the monetary values fluctuate. This is done by an experient individual who can read the fuel monetary value index and gauge how it will travel over the following few yearss. Even little addition of lessening in fuel monetary values could intend 1000000s of dollars in nest eggs or loss. Given below is a concern theoretical account that is employed at EasyJet a LCC holding operations in Europe. From the above diagram it is clear how concern theoretical accounts are designed in the Low Cost Carrier concern and what are their precedences. Criticism Some of the pricing policies of low cost bearers have come under heavy unfavorable judgment by different authorities bureaus and other regulators. These low cost bearers frequently show zero flight charges in their adverts, which really is the monetary value without including the revenue enhancement or airdrome fees, this is in many instances misdirecting to the terminal consumers who are in the terminal forced to pay a whole burden of accessory fees which absurd as it may sound includes Credit card use fees, airport check-in fees, luggage check-in fees and so on and so forth. CURRENT Tendency The benchmark concern theoretical account for all LCC around the universe since clip immemorial has been the theoretical account ab initio employed by South West Airlines. Over the old ages as the market moved from one that is really thinly populated to one that offers so much pick and assortment, a batch of the schemes employed ab initio became disused or unviable. Therefore different bearers around the universe had to do alterations and alterations in order to better accommodate their concern theoretical account to the environment that they operated in. The footing of the operation remained the same in consequence offering a lower cost option to the bequest bearers but as the competition heated up it became of paramount importance to distinguish the service offerings of the different low cost bearers in order to command a more loyal client base. As a consequence of this, some of the alterations that were implemented would be the offering of complimentary services and frequent cir cular plans. This ensured that these peculiar air hoses enjoyed grosss above the industry norm. Given below is a snapshot of how the Indian air power was segmented over the last decennary, the domination of the LCC concern in India is more apparent than of all time. The Indian air hose industry that was dominated by regular FSC s a decennary ago, was foremost shaken with the entry of Air Deccan, a LCC into the Indian market. Its enormous success led to multiple participants rapidly come ining the market. The market shortly became dominated by Low Cost Airlines. The Indian air power industry has over the past several old ages been witness to several headwinds, some of them being, industry broad over capacity taking to pricing power decreases, high oil monetary values and the demand growing staying subdued and so on. All these tendencies have made the industry debt ridden and in critical demand for an equity extract. The last few old ages have been particularly difficult on the industry, the really crisp rise in oil monetary values and the sudden bead in riders going by air due to the economic lag hit the industry hard. There was some respite during 2010-2011 on the dorsum of some subject enforced by the industry every bit good as some addition in rider air traffic. But this was shortly followed by more economic convulsion and fluctuating oil monetary values this once more led to drop in the industry gross returns. The Indian market is non precisely the most investor friendly, foreign direct investings are non allowed and even internally non more than a 49 % interest can be acquired. This coupled with the fact that most foreign companies enjoy a ample portion of the Indian net incomes thanks to code sharing understandings with Indian companies have made it really hard for the fighting Indian comp anies to acquire any extract of much needed equity. The issue of Kingfisher from the LCC market every bit good as the cancellation of its licence brings up a really important inquiry that needs to be answered, How feasible are the LCC in the long term? Another of import factor is the really low incursion of the air hose industry in India. It is presently lower than China where people on an mean brand merely 0.2 trips every twelvemonth. In blunt contrast, a individual in the United States makes 2 trips every twelvemonth by air what this means for the Indian air power industry is a enormous growing potency. RESEARCH METHODOLOGY Research methodological analysis is to consistently work out the research job. It may be understood as scientific discipline of survey, how research is done scientifically.A The methods adopted in roll uping the information analysis and reading of informations. Type OF PROJECT Research design is the basic frame work which provides guidelines for whole research methodological analysis. Research can be classified into ; Descriptive vs. Analytical Applied V. Cardinal Quantitative vs. Qualitative Conceptual vs. Empirical The pick of research design depends on the deepness and extent of informations required the cost and benefits of the research the urgency of the work and clip available for finishing it. For this survey, we would be utilizing as qualitative method of analysis with some inputs from assorted other types of Research like descriptive and so on. Due to the deficiency of clip it was non possible to carry on an in deepness study sing this issue. But the returns from an interview with a senior director working at the Airport have been included into the survey. Most of the informations presented in this undertaking is based off secondary informations ; it is a reasonably good established industry at least around the universe and a quickly turning industry in India. There was non much range for explorative Research and because of this I have taken up the undertaking of analyzing the current scenario in the low cost bearer concern in India and analyzing how and why some companies perform the manner that they do. The grosss of the different low cost bearers, FDI in the air hose industry, why did Kingfisher clang out are all some of the analysis that would be done based on the secondary informations collected. DATA ANALYSIS AND INTEPRETATION A batch of literature aggregation has been done, and based on this several new larning s sing the low cost bearer concern have been acquired. Armed with this information from here on in the undertaking will try to dissect and analyze the Low cost bearer industry in India, the major participants, their strengths and failings every bit good as the rise and autumn of KINGFISHER air hoses. This is a snap shooting of the Indian Airlines industry in 2003. As it is clearly seeable there are merely a few participants and the regular bequest air hoses account for more than 90 % of the market portion. This was besides the clip when LCC were doing their initial raid into the Indian market. As it is seen from the 1 % market portion held by Air Deccan the first LCC in the Indian market. Once the initial measure was done there was no halting the low cost bearers they entered into the market easy, one by one boulder clay they held a king of beasts s portion of the Indian air hose industry. Above is a snapshot of the same industry in 2009. It is obvious from the current market portion analysis that the LCC have made inroads into the Indian market and have started capturing the bigger piece of the pie. At this point of clip, the low cost bearers accounted for 40 % of the market portion in India. The high terminal Luxury airliner Kingfisher besides took a immense portion of the market from the bequest airliners in India thanks to their vision of presenting Indians to the art of winging in Luxury. This was besides the clip of consolidation ; several of the little participants in the market were being usurped by the larger participants ( KINGFISHER took over AIR DECCAN ) taking to industry broad alterations. This was besides the clip of recession where in several of the taking air hoses were describing really high losingss due to the broad fluctuations in the cost of fuel. There was besides a crisp diminution in the YoY growing of air riders in India, with the economic cr isis a batch of people were non taking to go by air and this combined with the fuel monetary value hiking spelt day of reckoning for the grosss of the Indian air hose industry. This is a snapshot of the Indian air power industry ( rider ) in 2012. As you can see there are several drastic alterations to the dissolution from the 2009 theoretical account, most noteworthy being the flooring diminution of Kingfisher. Despite this the Low cost bearer section has like an expert moved in to capture a larger portion of the Indian market now accounting for about 75 % of the Indian market. The ground for this non being obvious from the pie diagram is because the portions of Air India and Jet Airways include their several LCC services. The Indian GDP is said to hold grown by 5.3 % in the last one-fourth of 2012, this is said to be the worst public presentation of the economic system in the last 9 months. Several grounds can be attributed to this, high rising prices, high involvement rates and policy palsy from the authoritiess side. FY 2012 was a good twelvemonth in footings of rider traffic every bit far as the Indian air power industry was considered but in footings of profitableness there was a immense bead. Harmonizing to a statistic, the loss for the full industry in FY 2012 was 2 billion US $ whereas it was merely 4 billion US $ for the period FY 2008 2011. Harmonizing to informations published by CAPA ( Centre for Asia Pacific Aviation ) the full debt for the Indian air hoses industry is presently pegged at around 15 Billion US $ . LCC witnessed a steady growing while Kingfisher witnessed steady eroding. IndiGo moved to the 2nd topographic point in the domestic market and Spice Jet moved into 3rd topographi c point. It is interesting to observe that in a twelvemonth where companies fell in the air power sector, IndiGo managed to book net incomes. This is thanks to the fact that despite all the day of reckoning and somberness, they managed to take top honours in multiple classs such as employee per aircraft, on clip public presentation, flight and rider cancellation informations every bit good as the rider burden factor. Air India ( USD280-320 million loss ) Go Air: ( USD2.5-2.8 million loss ) Anil: ( Breakeven-5.7 million loss ) Jet Air passages: ( USD45-60 million loss ) Kingfisher: ( USD110-130 million loss ) Spice Jet: ( USD25-28 million loss ) This was a expression at the losingss at the terminal of the 2nd one-fourth of 2012. There was ever a robust growing in the Q3 of every fiscal twelvemonth because of the gay season and IndiGo has managed to turn it about in this period. Air India USD189-226 million loss Go Air: USD7.5-9.4 million net income Anil: USD47-57 million net income Jet Air passages: USD38-47 million net income Spice Jet: USD25-28 million net income Kingfisher does non do it to the list as the licence for them has been cancelled effectual October 2012. What did Kingfisher make that led to their meteorologic autumn from grace? For starting motors, Kingfishers sufferings started with the fatal determination to take over Air Deccan which was one of the Prime Minister low cost bearers in the state. The job was that their concern theoretical accounts could nt be more different. Kingfisher worked in the luxury section, with focal point on the higher subdivision of society where as Air Deccan catered to the cost witting traveler. The paradigm displacement in the idea procedure that was required to attach to this amalgamation of two wholly different companies was non wholly brought frontward by Kingfisher when they introduced Kingfisher RED their low cost bearer. There was ever no lucidity and clear discriminator between the concern schemes for these two contrasting services. Kingfishers BUSINESS MODEL vs. INDIGO s BUSINESS MODEL There are several ground why Kingfisher failed whereas IndiGo continues to bloom as one of the fastest turning low cost bearers in the universe in malice of the fact that they were both low cost bearers. The difference lies in the blunt contrast of their concern theoretical accounts. The last two old ages have been a existent catastrophe when it comes to the Indian air hoses industry and that is chiefly attributed to the steep rise in rough oil monetary values. It fluctuated from around 88 $ per barrel to 115 $ per barrel that is a rise of around 25 % . This was further non helped by the steady depreciation of the rupee against the dollar. It is interesting to observe that more than 70 % of an Indian air hose s payments need to be made in dollars and therefore their fiscal jobs were exacerbated by these jobs. During this period, Kingfisher incurred losingss deserving Rs. 732 crore and Jet Airways incurred losingss in surplus of Rs. 836 crore. Now the inquiry arises if that was the instance so why is it that Kingfisher is now out of concern while Jet airways continues to rule the industry in footings of market portion. The reply is reasonably simple really, foremost ; there is one of import factor that needs to be considered while we are discoursing Kingfisher. Ev er since its origin in 2005 as one of the Prime Minister bearers in the state, Kingfisher has neer one time reported a twelvemonth with net incomes. Kingfisher s fiscal record stands in blunt contrast to its service record ; it is one of merely 7 bearers in the universe to hold a 5 star evaluation from Skytrax, an UK based air power consultancy house. In the terminal I think it is safe to state that Kingfisher was a victim of its ain Business theoretical account which chiefly focussed on the upper echelons of society, it was exactly this sector of society that was severely hit by the recession of 2008 2009 and it neer recovered. A in depth reappraisal of the false beliefs of Kingfisher under Mr Vijay Mallya, make it really clear why Kingfisher is where it is now. Kingfisher began its services in India as a full service air bearer offering a individual category constellation. But even before they had settled down with that theoretical account and get down booking net incomes they got back to the pulling board and began puttering with the theoretical account. Now they all of a sudden had shifted their focal point to the luxury section. The theoretical account was along the lines of the prime luxury air bearers around the universe, decidedly non something that was cut out for the sensitive Indian market. As explained already they even managed to bad a 5 star evaluation from a celebrated air service consultancy for on board services. It was around this clip that Kingfisher started chew overing a coup detat of Air Deccan, which was at the clip one of the Prime Minister low cost air bearers in the state. Any premi er expert in air power would hold advised against this amalgamation at that point of clip particularly because the concern theoretical accounts of both these air hoses were every bit different as chalk and cheese. But against all odds, Mr Mallya went in front and bought Air Deccan based on his intestine feeling. This amalgamation opened rather a few doors for KFA. It allowed KFA to run in a new sector the LCC section as Kingfisher RED. The amalgamation with Air Deccan besides meant Mr Mallya had a batch more jets ( around 70 ) in the sky under his control, besides this the geting of Air Deccan besides meant KFA had more than 5 old ages of air power experience and therefore could now provide to international finishs. This led to a new concern theoretical account, which catered to 3 sections, Kingfisher First, Kingfisher Premium and Kingfisher Red. 2008 2009 despite the recession being at its extremum got a few awards to Mr Mallya owing to the increased market portion that KFA now en joyed. Despite this KFA neer did one time post any net incomes, and with recession at its extremum Mr Mallya was forced to close down Kingfisher Red because every bit is ever the instance in the Indian sub-continent where there are two services from the same trade name and one service is cheaper than the other people flock to the cheaper option. To add fuel to the pyre, KFA which was a nascent service supplier was keeping more than 5 different theoretical accounts of Jets all this besides led to high over caputs. At some point along the manner for KFA, the no show with regard to net incomes, erroneous amalgamation and acquisitions, the planetary fiscal crisis and an unstable concern theoretical account: all roads led to one finish, A large clang and that is precisely what happened with KFA. Defaults with employee wages, non-payment of dues and other hard currency flow issues all led to the inevitable, Employee work stoppages, flight cancellations and finally the cancellation of th eir licence to wing. IndiGo Airlines Kingfisher Airlines IndiGo had a really clear concern theoretical account in head. ( A no-nonsense 1 at that ) Single category config. No frills, speedy turnaround times. One of the premier grounds for KFA s death would be the deficiency of a clear concern theoretical account ; KFA frequently changed their concern theoretical account. To exceed it off the concern theoretical accounts were all unsighted versions of successful international air hoses. There was no localisation or version of the theoretical account in line with the part where they operated. They did non purchase aircrafts but leashed most of their jets. They marketed promptness as their USP which is mark of a robust concern theoretical account. KFA ab initio bought most of their aircrafts, to do affa

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