Health Care Crisis Research Paper Example | Topics and Well Written Essays - 2000 words

Health Care Crisis - Research Paper Example Each country has some rules and regulations that govern the health care system and they have to be adhered to. The universal health care has three tasks in each member of the society. It covers the following in every individual. The first one is the person who is to be covered with the system. Secondly, the services that the system has to offer to that person. Lastly, the total cost when carrying the person. In most developed countries, the universal health coverage is of much helpful to the residents. This has been made true, by the primary funds the government of these countries gets through the local residents. The government imposes tax to the residents and this becomes revenue to the country and which ensures that the country’s health care system achieves its goals. Also, some countries get funds the merchants and private sectors. The Soviet Union was the first one to establish the health care system in early 1937 and it was well redistributed towards its rural areas. Despite that America is among the wealthiest countries in the planet, it does not have universal health coverage unlike other developed countries. This is true because of some reasons or rather facts that have hindered America from diversifying its economy from universal health coverage which is a bit cheaper. Historically, the United States has never had a labor party which becomes successful. The low income earners in the United States were able to buy in most parts of the country. Land mobility was also encouraged and the middle class were also able to own the properties. This led to totally acquiring free land or quasi free land in most parts of the America. Consequently, a large number of the middle working class owned land in the United States, unlike in most parts of the planet where the land was owned by rich people. This resulted in failure of the labor party since there was no need of one voice to push for equity among the America’s

Emerging Business Themes Essay Example | Topics and Well Written Essays - 3000 words - 2

Emerging Business Themes - Essay Example It has a more than 7,500 restaurants in the United States and over 5,600 restaurants in 97 countries. (Yum! Brands, 2009). Social Media is defined as "a group of Internet-based applications that are build on the ideological and technological foundations of Web 2.0, and that allow the creation and exchange of user-generated content† (Kaplan Andreas M., 2010) . Pizza Hut, which started spreading as a franchise restaurant has evolved over a period of time keeping pace with the latest developments. Needless to say, that its diverse delivery format required huge investment in technology. Now, it is also investing in Social Media technology to keep up with its customers like many other ‘brands [which] are rushing to keep up with consumer behavior’ (Peter Kim, 2009). Pizza Hut is still testing grounds when it comes to social media technology. To find out what the customers want to hear, they engage in conversations with customers over the social media sites. It has initiated various campaigns targeted at increasing its online presence. It has marked its presence on Facebook and Twitter and is offering ‘hot’ deals to the users of these websites. However, a well defined marketing strategy regarding its social media networking is yet not in place. Pizza Hut has set its communication goals as – 1) giving people an engaging and fun way to find news and information from Pizza Hut, and 2) creating two-way relationships with our customers, built on trusted conversation. (Fuller, 2009) Probably its communication goals led Pizza Hut to announce its intention to hire an intern for managing its Twitter account. Although this piece of news was intended to establish camaraderie with the generation using Twitter, it gathered a lot of criticism from marketing gurus who thought it was a bad idea to let an intern handle an international brand on an international platform. (Evans, 2009) While social media technologies represent exciting new opportunities for

Investment Management Essay Example for Free

Investment Management Essay Both hedge funds and mutual funds are â€Å"pooled† instruments, but there are more differences than similarities between them. Three kinds of differences are going to introduce in the following part which are strategy, risk and reward. Strategy: The hedge funds managers have fewer limits to deal with, they can sell short, use derivatives and use leverage, and otherwise, they can also change the strategy significantly if they think it is appropriate. The mutual fund managers cannot be as flexible as hedge fund managers. In case they changes the strategy of the fund, the may be accused of â€Å"style drift†. Risk: As hedge funds are managed much more aggressive than the mutual fund, they can take speculative positions in derivative securities and have the ability to short sell stocks. This will obviously increase the leverage and the risk of the fund. Mutual funds are the opposite of the hedge funds, taking highly leveraged positions is not allowed and managers should take solid strategy to make the funds safe. Reward: Hedge funds take an aggressive strategy which has high risks to seek absolute returns (it means they want to produce positive return no matter what the market performance is). Mutual funds are managed relative to an index benchmark which means their return is steady because they are judged on their variance from that benchmark. 3. Arbitrage opportunity 3. 1 According to the case study, during the IPO of Ubid, there is only 20% equity offer to public, and remaining 80% will distribute to CC’s shareholders after 6 months. The arbitrage opportunity is appear because if we own CC’s share that we will receive Ubid’s share after six months. In that reason, we should form a portfolio which combines long position of CC and short position of Ubid. In Dec 9, there was 10,238,703 CC’s share outstanding and 9,146,883 Ubid’s share outstanding. However the 80% of Ubid’s share will distributed to CC’s shareholders after 6 month of IPO. In that reason, we can assume that 80% of Ubid’s share is subjected to CC’s share. (10,238,703? 80%)/9,146,883=0. 715 If we have long position on 1 share of CC, we should take 0. 715 short position of Ubid’s share. 3. 2 Based on the output in section 3. 1, the arbitrage opportunity has arise when we have 1 long position on CC’s share and 0. 15 short position on Ubid’s share. Therefore we need short sell the Ubid’s share and buy CC’s share. Assume that we buy 1 share of CC and short sell 0. 715 share of Ubid. After 6 months later. In addition, after 6 months, the 80% Ubid’s share will distribute to CC’s shareholders, therefore, after 6 months we have 1 share of CC will receive 0. 715 share of Ubid. Subject to 1 s hare of CC, we have 0. 715 share short position of Ubid. In that reason we will have a portfolio that combine 1 long position of CC and 0. 715 short position of Ubid. The total payoff of portfolio is sum of payoff in both position is: Price of CC after six month price of CC + 0. 715? price of Ubid. As we mention before, our return is the total payoff of portfolio. According to the equation of payoff of portfolio, even the price of CC is drop to Zero, we also will generate positive return which is price difference between Ubid and CC, and this is our minimum return Price difference of Ubid and CC is 0. 715? 35. 6875-22. 75=2. 767 and the initial margin is 50% for long and short position, therefore the capital required is 50%? 2. 75+50%? 35. 6875=29. 22. The minimum rate of return is 4. Risks in arbitrage The arbitrage means that investors find temporary risk-free profit from misprice at inefficient market. Therefore, arbitrageurs will face risk lower than other investors. However, some of risks can limit arbitrageur to seek risk free profit. Firstly, arbitrageurs need to bear the fundamental risk. Although arbitrageurs can eliminate unsystematic ( firm-specific) risk by portfolio diversification, they cannot mitigate systematic risk which arises from market contracture. This lead to some of bad news or policies can cause negative effects on fundament value and arbitrageurs’ profits. Thus, the fundamental risk can limit arbitrageurs to invest in inefficient market. Secondly, noise trader risk will limit arbitrage. High percentages of noise traders who make irrational investment of decision in market will lead price and risk level to be different with expected level for arbitrageurs, and cause misprice to be reduced. Thus the profit of arbitrage will be limit by noise trader risk. Finally, arbitrageurs will also face high implement cost. Implement cost includes commission, bid-ask spread, price impact, short sell cost and identification cost. High cost will cause arbitrageur loss interest on seeking misprice in inefficient market.

Growth And Evolution Of Steel Industry India Economics Essay

Growth And Evolution Of Steel Industry India Economics Essay Indians were familiar with iron and steel during the Vedic age more than 4,000 years ago. It is evident from the Iron Pillar at the outskirts of Delhi. But the seeds of modern steel industry were sown by Sir Jamshedji Tata in 1907 when Tata Iron Steel Company Ltd. (TISCO) was set up. The first steel ingots were rolled in TISCO in 1911. This was followed by the establishment of the Mysore Iron and Steel Works in 1936, later renamed as Visvesvaraya Iron Steel Works. Three years later in 1939, production of steel started in another private steel company, the Indian Iron Steel Company, now a subsidiary of the Steel Authority of India Limited (SAIL). In India, a major part of steel is consumed in engineering applications, followed by automobiles and construction. The growth of steel, as is well known, is dependent upon the growth of the economy, industrial production and infrastructure sectors. Over the last few years the performance of the Indian steel industry has been adversely affected due to overcapacity, cheap imports, economic slowdown, declining global steel prices and also anti dumping duty imposed by USA on Indian exports. In the era of planned economy, iron and steel, a core and basic sector, received the full attention of the Government. It became a key sector for public investment for the first Five Year Plan itself. The year 1953 saw the first agreement being signed with the Germans to establish a 1 million tone plant at Rourkela in Orissa. Two more agreements for setting up steel plants, at Bhilai with the erstwhile USSRs assistance and another at Durgapur with the help of U.K. was signed in 1956. Successive capacity augmentations at Bhili, Durgapur and Rourkela saw their capacity increase to 2.5, 1.6 and 1.8 million tons per annum respectively by the end of the 60s. A new plant at Bokaro with a capacity of 2.5 million tones per annum went into production in 1973-74. The year 1978 witnessed a major restructuring of these steel-making public sector units giving birth to the public sector giant, SAIL, having a Navaratna status today, with an aggregate capacity of over 10 million tones. The first shore-based public sector integrated steel plant, viz. The Rashtriya Ispat Nigam Limited of 3 million tones per annum capacity went into production in August, 1992. During the first two decades of planned economic development, i.e. 1950-60 and 1960-70, the average annual growth rate of steel production exceeded 8 per cent. During 1970-80, this growth rate in steel production came down to 5.7 per cent per annum and gathered up marginally to 6.4 per cent per annum during 1980-90. Until the 1990s the iron and steel sector was by and large the exclusive preserve of only the public sector, the sole exception being TISCO. The new economic policy announced in 1991 was no doubt a significant milestone in the evolution of the Indian economy. The process of the economic reforms ushered in substantial liberalization of the policies and institutions governing trade, industry and finance. With this the complexion of Indian iron and steel industry has undergone a sea change. Iron and steel industry became one of the foremost sectors to be opened under the New Economic Policy. Substantial private investments flowed in with the consequent changes heralding a new beginning for the interplay of free market enterprise in this vital sector. Changes A glance at the pre-and post-1991 era reveals some interesting and significant structural changes. At the consumer or demand end, the market for steel has been transformed from a seller to a buyer market. Control and regulation have been replaced by competition. Administered prices have been replaced by supply-and demand-determined market prices. In the post-liberalization era, the structure of the steel industry is significantly and vastly different with the advent of major steel producers in the private sector which have come up with the world class technologies and capacities. There has been a clear shift towards the selection of the product mix. During the pre-1991 era, the private sector was mainly confined to the production of long products. The only producer of hot-rolled flat products was SAIL in the public sector. Now there are 5 additional major producers of flat products of steel in the private sector. There has been a clear focus on the state-of-the art technology. Presently, India can boast of new technologies like Corex, Thin Slab Casting and Compact Strip Mill Technology, DC Electric Arc Furnaces, Twin Shells AC EAFs etc. in the steel industry. The industry has now to focus on customer satisfaction and outstanding quality of steel products in a competitive environment. Steel producers in the public and private sector have taken upon themselves with determination and commitment to overcome the new and arduous challenges to come up to the Governments expectations as also the people of our country in the most difficult and trying period for the last couple of years. Indias Competitive Position India is a very competitive country with regards to steel production. India is next only to Brazil if I have to compare the competitiveness of the steel industry. The first and foremost is the availability of iron ore, the next being the adaptability to technology and last but not the least, the labour costs are very competitive as compared to the rest of the world. India is more competitive than countries like US, Europe, Posco of South Korea and Japan and even China. China does not have iron ore resources. China imports almost all of its iron ore requirements. Indias competitiveness in steel is a good one. But the competitiveness gets eroded a little due to various high infrastructure costs like freight rates in rail as well as through road are very high. Port charges are uncompetitive. The time it takes for loading and unloading of the ships is uncompetitive. For a comparison, export of steel in bulk to London works out to be more cost effective the sending steel to Mumbai from Kolkata. Impact The response of the private sector in particular has been quite encouraging in the post-liberalization era. Many all-India financial institutions also came forward to support these initiatives and had sanctioned financial assistance to 19 steel projects involving an investment of about Rs. 30,000 crore covering an additional capacity of 13 million tones per annum during the post -liberalization era. Today, India is the tenth largest steel producer in the world. Government Initiatives The Government has been making all-out efforts to help the domestic steel industry to overcome the problems faced by them. To boost the demand and consumption of steel, an Institution for Steel Development Growth (INSDAG) was set up involving leading steel producers in the country. The Development Commissioner for Iron Steel had launched a National Campaign for increasing the demand for steel in non-traditional sectors, particularly in the construction, rural and agro-based industrial sectors. Other areas include reduction in power and railway tariffs, reduction in input costs, strengthening of antidumping mechanism, setting up a steel exporters forum and an empowered committee for research and development. Current Scenario for Steel Industry Global steel demand is rising on the back of accelerated infrastructure activity in China, CIS and India, housing boom in USA, and white goods resurgence in Europe. During the recent recessionary phase, the industry has consolidated in terms of ownership as well as mothballing of inefficient capacities. Steel prices continue firming up. For the first time in last 20 years, there is demand growth all over the world for steel. In US, the demand is led by the booming housing industry. Additionally the auto industry is showing signs of recovery as auto sales hit their strongest levels for the year in July even as US posted a 2.4% GDP growth. In Europe, there is demand from a buoyant housing and white goods industry according to industry sources. In India, China and other Asian countries the demand is led by emphatic investment activities in infrastructure. Russia and other CIS nations are also witnessing strong internal demand. Iraq reconstruction work is expected to fuel further demand for steel over the next three years. China is consuming steel like never before for its infrastructure with investments such as Three Gorges project on Yangtze as well as part of its build up to the Beijing Olympics in 2008 and the Shanghai Expo in 2010. 2) PRODUCT PROFILE ESSAR STEEL LIMITED (ESL) Hot Briquetted Iron (HBI) Essar steel took various technical initiatives to increase the production and reduce the cost. The capacity utilization improved after the company made various modifications. The HBI plant produced 1,65,052 tons in March 2000. With this the annual production capacity of the plant is close to 2mn tons. Hot Rolled Coils (HRC) ESL is one of the largest exporters of hot rolled coils. It increased its exports by 32% from 161,000 tons to 213,000 tons in the last quarter The company has increased its hot rolled coil capacity from 2mn tons to 2.4mn tons. Essar steel expanded capacity to take advantage of the increasing demand in the domestic as well as the international markets. During the year Essar Steel shifted from base grade steel to high value grades to get better realizations. Essar steel has developed new products for segments like the automobile sector. ISPAT INDUSTRIES LIMITED (IIL) Direct Reduced Iron (DRI) The DRI plant operated at 90% capacity utilization and produced 1.07mt of sponge iron, with 95% metallisation quality.. The decline in realizations was due to the oversupply scenario caused by the fall in production levels of all induction and arc furnace units. Cold rolling mill and Coating plant The company produced 0.26mt of cold rolled coils/sheets in the last fiscal. During the year the company sold 1.22mt of DRI which was higher by 12% as compared to the previous years sales volume of 1.08mt. The full integration of the steel plant will enable the company to produce value-added products and help them change their product mix. INDAL IRON AND STEEL CORPORATION LIMITED (JISCO) Hot rolled products JISCOs hot rolling facilities are located at Vasind near Mumbai. The plant has an installed capacity to produce 2,80,000 tonnes of HR plates/coils. The company during the year produced 1,61,253 tons of hot rolled plates as compared to 1,97,178 in the previous year, showing a drop of 18.22% yoy. The dip was due to the low demand for HR plates as demand from heavy automobile, construction etc. sectors was low. Cold rolling and galvanizing JISCO has an installed capacity to produce 400,000tpa of cold rolled strips/sheets at Vasind (150,000tpa) and Tarapur (250,000tpa). It also has 550,000 tpa capacity of galvanised coils/ sheets at Vasind (175,000 tpa) and Tarapur (225,000 tpa) and has commissioned a 1,50,000 tpa capacity quality line CSD III. STEEL AUTHORITY OF INDIA LIMITED (SAIL) Product Mix SAIL produces nearly the entire range of steel products. The production strategy was altered in line with shifting demand patterns of the market. The production of crude steel through con-cast route increased by 17% yoy with proportion of BOF- CC production going up from 43% in FY02 to 50% in FY 2003. Modernization SAIL incurred a cost of Rs55bn between FY88 and FY92, on modernization. The second phase of modernization has envisaged Rs130bn investment during FY93 to FY97. The modernization has resulted in significant improvement in energy consumption, coke rate, yield etc Steel Products Semi-finished products (also called semis) are intermediate products, cast from liquid steel prior to further rolling into finished products. Finished steel products, available in a vast range, can be broadly categorized as longs and flats. Long products include bars, wire rods, angles, structural, channels. 3) DEMAND DETERMINATION OF THE STEEL INDUSTRY The global demand for steel is at an all time high nowadays. Much of the tremendous demand for steel around the world may be attributed to the numerous construction projects that are going on around the world. Much of these projects are taking place in the economically developing countries of the world like India, China and Thailand. China is the place where a lot of construction is being done nowadays and much of the construction is for the purpose of the Olympics to be held in 2008 and the Shanghai World Exposition of 2010. Along with being one of the major users of steel, China is one of the major producers of steel as well. During March, 2007 China produced a record 40.16 million tonnes of steel. The demand for steel has gone up in the United States of America as well.   This may be ascertained from the fact that in 2007 the amount of steel used was 2.2% more than what it was in 2006. Thus it may be ascertained that the supply and the demand for steel is at their respective peaks. This bodes well for the Indian steel industry as India has plenty of steel to meet up with both the domestic as well as international demand.  India has a lot of iron ores. This implies that India has a ready base for producing sufficient amount of steel and the experts are also of the opinion that the Indian steel industry would continue to grow in the coming years. In the recent times the production of steel has gone up in the country from 17 million tons in 1990 to 36 million tons in 2003.  The Indian steel industry is trying to reach the 66 million tones mark in 2011. The high levels of production would allow the Indian steel industry to establish a stronghold on a number of areas like housing, construction, and ground transportation. The special steel produced by the Indian steel industry is supposed to be used in high end engineering industries like generation of power, fertilizers and petrochemicals.   The fact that India is not a voracious consumer of steel like some of the major economies like China and the United States of America means that India would be able to use the surplus steel it produces for exporting to other countries. So that their demands are met. This would help the Indian steel industry to be regarded as one of the most prominent steel industries if not the leading one. 4) PLAYERS IN THE STEEL INDUSTRY The performance of steel industry in India has been quite satisfactory over the past decade. Company Share % (2009) Tata steel 35.7% Steel authority of india limited 23.8% Jsw 9.7% Other 30.7% Total 100% The steel industry in the whole of Asia is aided by cutting-edge technology and because of this, the companies in the industry has made great advancements in all their operational areas.The development of steel industry in India is mainly due to the substantial increase in the demand for steel products of India in the global market. The top companies in this industry mainly operate in four different forms like manufacturers of semi-finished steel, producers of finished steel products, manufacturers of stainless steel and producers of pig irons. The list of top companies in the steel sector in India is given below: Top 10 steel companies in India: à ¢Ã¢â€š ¬Ã‚ ¢ Rashtriya Ispat Nigam Limited à ¢Ã¢â€š ¬Ã‚ ¢ Steel Authority of India à ¢Ã¢â€š ¬Ã‚ ¢ Tata Steel à ¢Ã¢â€š ¬Ã‚ ¢ Visveswarayya Steels à ¢Ã¢â€š ¬Ã‚ ¢ Bokaro Steel Plant à ¢Ã¢â€š ¬Ã‚ ¢ Bhilai Steels à ¢Ã¢â€š ¬Ã‚ ¢ Essar Steels Limited à ¢Ã¢â€š ¬Ã‚ ¢ Jindal Steel Power à ¢Ã¢â€š ¬Ã‚ ¢ KVS Ispat à ¢Ã¢â€š ¬Ã‚ ¢ Jindal Steels Limited Some of the details regarding these top players in steel industry is given below: Rashtriya Ispat Nigam Limited: The foundation stone for Rashtriya Ispat Nigam Limited was laid in the year 1971 and this organization is the corporate body of Visakhapatnam Steel Plant. They have three different mines under their control being the blast furnace grade limestone mine, manganese mine and dolomite mine. They are specialized in the production of the following products: à ¢Ã¢â€š ¬Ã‚ ¢ Rounds à ¢Ã¢â€š ¬Ã‚ ¢ Beams à ¢Ã¢â€š ¬Ã‚ ¢ Wire rods à ¢Ã¢â€š ¬Ã‚ ¢ Squares à ¢Ã¢â€š ¬Ã‚ ¢ Billets à ¢Ã¢â€š ¬Ã‚ ¢ Channels à ¢Ã¢â€š ¬Ã‚ ¢ Blooms Steel Authority of India: Steel Authority of India shortly called as SAIL is one of the top public sector steel-makers in India and they produce steel products both for export and for domestic consumption as well. SAIL holds the pride of being one among the four Maharatnas in the Central Public Sector Enterprises in India. They are the major manufacturers and sellers of the following steel products: à ¢Ã¢â€š ¬Ã‚ ¢ Alloy steel à ¢Ã¢â€š ¬Ã‚ ¢ Stainless steel à ¢Ã¢â€š ¬Ã‚ ¢ Rods and bars à ¢Ã¢â€š ¬Ã‚ ¢ Railway products à ¢Ã¢â€š ¬Ã‚ ¢ Structurals à ¢Ã¢â€š ¬Ã‚ ¢ Electrical sheets à ¢Ã¢â€š ¬Ã‚ ¢ Galvanized steel à ¢Ã¢â€š ¬Ã‚ ¢ Cold and hot coils and rolled sheets Tata Steel: Tata Steel is a part of the Indias popular Tata group and they are one among the global steel service and manufacturing companies in India. They have a balance presence in over 50 developed countries in the continent of Europe and they have manufacturing units in 26 different countries all over the world. Visveswarayya Steels: Visveswarayya Steels is actually a unit of the Steel Authority of India and they are dealing in the production of pig iron and alloy steels. The company began as a separate entity in the year 1923 and it has now come under the SAIL. Bokaro Steel Plant: Bokara Steel Plant began its journey as a limited company in the year 1964 and the company is situated in the Bokaro District of the state of Jharkhand. The plant holds the pride of being the countrys first Swadeshi Steel Plant. Even though, the company began its journey as a separate entity, it is now merged with the Steel Authority of India. Bhilai Steels: Bhilai Steels are one of the leading supplier, stockiest, exporter and importer of hast alloy, aluminum, inconel, monel, brass, copper, ally steel, carbon steel and stainless steel. They are also leaders in a wide range of pipefittings like compression type of popes with Ferrules, forges, screwed, SW and BW pipes. The steel products of this company are being used in different industries like cement, power, textile, pharmaceuticals, sugar mills, petrochemicals, fertilizers and chemicals. Essar Steels Limited: Essar Steels are one of the most versatile producers of steel-based products and tailor-made products and these products are the best known for their quality. Their 24-carat steel is a product that got worldwide acceptance. They have international centers in different countries like Indonesia, Vietnam, Canada and the USA. Some of the products manufactured by them are: à ¢Ã¢â€š ¬Ã‚ ¢ Cold Rolled Products à ¢Ã¢â€š ¬Ã‚ ¢ Hot Briquetted Sponge Iron à ¢Ã¢â€š ¬Ã‚ ¢ Hot rolled products à ¢Ã¢â€š ¬Ã‚ ¢ Galvanized products à ¢Ã¢â€š ¬Ã‚ ¢ Iron ore pallets Jindal Steel Power: Jindal Steel Power is a leading player in different industries like infrastructure, gas and oil, coal to liquid, mining, power and steel. They are continuously creating new opportunities by leveraging their core capabilities to venture into new business, diversifying investments and by increasing production capacity. KVS Ispat: KVS Ispat is a flagship of KVS group of companies and the company enjoys a legacy in the industry of steel for the past 22 years. This company is known for its excellence right from its inception and they are consistently making great contribution towards the development of the society. They are dealing with different types of steel products like: à ¢Ã¢â€š ¬Ã‚ ¢ Rounds Squares à ¢Ã¢â€š ¬Ã‚ ¢ Channels à ¢Ã¢â€š ¬Ã‚ ¢ Flats à ¢Ã¢â€š ¬Ã‚ ¢ Angels à ¢Ã¢â€š ¬Ã‚ ¢ Light Structural Steel à ¢Ã¢â€š ¬Ã‚ ¢ TMT Bars Jindal Steels Limited: Jindal Steels are also making a good contribution towards the development of India and they are ranked sixth among the top business houses with respect to their asset holding. They are one among the multi billionaire corporation in India. Their main aim is to become a world player in the industry of steel production and they are committed to maintain world-class quality in their production, to offer products at a competitive price and to do excellent after sales service to their customers. Thus, like any other industry steel industry in India is also offering wide range of employment opportunities to deserving candidates thereby acquiring the required talents for their organizations and by offering the right job to the right candidate. 5. DISTRIBUTION CHANNEL OF INDIAN STEEL INDUSTRY Distribution channel in India is now more smooth after 1991. Distribution maybe the best characterize through alarming consolidation. This consolidation is usually, predictable, also understandable as competitors in industry, which are in same business or substitute, additionally set their niches or produce bigger in a hunt for economies of scale. Distribution channel having their own alteration according to their convenience . for clearing the idea about it , the distribution channel of Indian steel industry are given as below (see  Figure 1). Traditionally, sales have playing an important role in each stage of the steel industry supply chain. sales people are remunerated through sales reward typically makes around 2 % of the product MRP . In the model shown in Figure 1, 16 % of the charge in the channel is associated to sales salaries as well as commissions. As the industry have moved from a home market to a global market, competition has greater than before they face, which help them to earn more profits. To protect profits, or for competing , the channel has upgrade their production technology . several clients begin to analyze sales calls through salespeople as an interruption in their day. A fine proportion of businesses entered in annual contracts with a companies, negotiated price as well as preset, scheduled material releases salary, or through salarwithcommission, although others draw directly . distributer channel.JPG 6. KEY ISSUES AND CURRENT TRENDS 1.New Steel Policy To Facilitate Rapid Growth Of Domestic Steel Sector, Says Government [Friday, Mar 23, 2012] A new steel policy will be aimed to ease the faster growth of the domestic steel sector by ensuring faster capacity addition, as realized by the government. The Steel Ministry-constituted panel is scheduled to finalize the draft within two months and there are expectations that it will be prepared in another three-four months. The government conceived of taking countrys capacity to 145 MT by 2015-16. The new policy assumes importance as it is coming up against the backdrop of huge delays in the multi-billion dollar ventures including those of ArcelorMittal and POSCO which were delayed due to the hurdles of regulatory and land acquisition. ArcelorMittal, which has proposed projects worth Rs 1.3 lakh cr. in Jharkhand, Orissa and Chhattisgarh, is facing land acquisition problems. POSCO, which has proposed a project in Orissa worth Rs 54,000 cr., is also battling regulatory hurdles for several years. 2.Arcelormittal Eyeing Land In Jharkhand [Saturday, Feb 04, 2012] Arcelormittal, a steel company, is in the process of identifying land in the Bokaro district for recommended 12-million tonnes per annum Greenfield steel plant in Jharkhand. AP Singh, Jharkhand Industry Secretary, said, They are still in the process of searching land in two locations Chas and Kasmar in Bokaro district. Mr Singh, who has been here to take part at a trade fair organized by CII, said that the recommended project of the international steel company will be delayed although the environment department has proposed the environmental approval, since the nod from the forest department has not come yet. The steel firm needs 2,400 acres of land for the recommended project. 3.Ministry Of Steel-(2012-2013) To transform India into a global leader in the steel sector, both as a steel producer as well as a steel consuming nation and to enhance the industrys international competitiveness. Mission Promoting policies, initiatives and incentives for attaining a national steel production capacity approximately 100 million tons per annum by the year 2012-13.Streamlining the regulatory environment for enabling optimal steel production; particularly regarding mineral policy and the mine allocation regime, tariff and taxation measures, and land allocation and environmental and forest clearances .Promoting the development of infrastructure required for enhancing national steel production through coordinated efforts, particularly in sectors like Railways, Roads, Ports, Power and Water supply . Enhancing the domestic demand for steel through promotional efforts and by enlarging the retail network of steel Companies . Improving the techno-economic efficiency of operations of steel Ministrys PSUs. Objective 1. To facilitate creation of steel making capacity and growth in steel production during 2012-13. 2. To oversee the completion of the apex and modernization programs of the PSUs. 3. Ensuring adequate availability of raw material for steel industry from domestic and overseas sources, particularly iron ore and coal by PSUs under the Ministry of Steel. 4. Improving the performance of Iron Steel industry through R&D; intervention, Quality Control and Export Promotion. 5 .To facilitate and monitor mergers, acquisitions and joint ventures by the Steel Ministrys PSUs. 6. Finalization of New Policy Initiatives. 7 To update information and data base in respect of Re-rolling industry 7. PEST Analysis India is the 10th largest steel producer of the world. the huge Integrated producers like SAIL, Tisco and RINL have traditionally dominated steel production in India. Due to excessive Government controls as well as regulations, the Indian steel industry are broadly affected from the environmental aspect. A examine of the external macro-environment in which the companies operates can be articulated in terms of the following factors which detailed as below. Political Economic Social Technological Political Factor Government And Regulatory Interventions The role of the government is crucial, both as a supplier and as a customer, and also as the supra-environment for business, creating the rules for competition. It creates boundaries within which the steel industry must operate. In the case of the Indian steel industry, the government directly or indirectly controls the finance and many of the inputs both raw material and services. The government has opened the field for private power plants. This is, in the long run, expected to improve the power situation in the country, to the benefit of the steel industry. The government as a buyer is very important for the steel industry. The investment of government in infrastructure such as highways, rail, plants, power dams, ports etc are significant key movers for steel demand. In fact, government spending on infrastructure spurs the demand for long products, which is followed, with a time lag, by a demand for flat products. The demand for long products tapers off with a saturation of infrastructure development. This is expected to provide the necessary fillip to the stagnant steel demand. Government regulations also provide protection to indigenous industry, or take it away. The recent liberalization of the economy has had mixed results for the Indian steel industry. On the one hand, they are free to import machinery6 and select raw material without the earlier procedural delays and checkpoints. On the other hand, they have had to continuously fight the dumping of cheap steel from around the world. Environmental norms imposed by the government from time to time have a significant reflact, expected to be about 15% of project cost. Government regulations and concerns regarding discharges from steel plants could become one of the major forces driving development of new technologies. Economic Factor INDIAS steel exports registered impressive growth in 2002-03. Provisional figures suggest that exports stood at highest level, against last five years. The steel industry was finally showing signs of recovery. Major producers started to export to capitalize on rising international prices and to boost bottom lines that had rusted in 1998-99. However, yet again, the good times comes for steel players. Indian economy become the strongest than it is comparing since last many years, it is absolutely good time for Indian steel industry. The analysis shows that the Indian steel industry suffer the low productivity of labour but high capital, energy and transportation cost. The steps needed to enhance competitiveness of the Indian steel industry contain investment towards technology up gradation. There is also a vast scope for quality up gradation. Quality monitoring, inspection and control measure have also to be introduced at all stages of operation as well as technical discipline. computerization in process routes, improved maintenance practices, optimum capacity utilization, extensive automation in all possible areas as well as pollution control measures need to be implemented. The Indian steel industry is at crossroad. It needs to step up values-addition to ensure that the wide fluctuations in HR prices are moderated with greater share of value-added products. Further, it has to modernize itself to bring down production costs. China makes strong impact in Indian economy. Various steel majors are planning to exports in millions of tonnes to china this year. So. Overall there is a good and grooming economy for Indian steel industry. Social Factor In Social point of view, the responsibility of various steel companies towards society and for the community is required to be analyzed. Safety Steel Industry is committed to the task of ensuring the safety and safeguarding the health of all its employees under various companies. In the company like Tata Steel, Importance will be given to continuous training for promoting safety consciousness among all employees. Joint committees of executives and employees representatives will supervise the Companys safety measures. Company is accountable for: Establishing safe and healthy work environment. Ensuring compliance with mandatory safety and health requirements. Proper maintenance and orderly house keeping, to control the risk of damage to plant and equipment. Insisting on safe work procedures being followed by employees, contractors and visitors. Quality Steel Industry shall continually tried hard to improve the quality of life of the communities industry serve with excellence in all facets of its activities. They are committed to create value for all their stakeholders by continually improving their systems and processes through innovation. The policy has reviewed to

Selfishness in Ywain the Knight of the Lion Essay -- Ywain the Knight

Selfishness in Ywain the Knight of the Lion In Chretien de Troyes' Ywain the Knight of the Lion, there appears a substantial amount of writing about noble men and women, and noble deeds. These noble acts consist of knights coming to a maiden's aid, regardless of the circumstances, and pravailing in battles in which they are either hopelessly outnumbered, or seemingly outstrengthed. Chretien's romance about Ywain also stresses a love that takes a man prisoner, a love for which man or woman would surely die for, and in which one loves another more than himself. The ep itomes of these characteristics seem to be Ywain and Laudine. However, Ywain and Laudine are both driven by selfishness. Selfishness in love is evident in both Laudine, and Ywain. However it is more prominent with L audine, simply because much of what is written about her in the story has to do with love, and although love is emphasized a great deal with regard to Ywain, more is written about his fighting evil, and assisting those in need of his strengt h an d courage. Saying that Laudine is selfish in love means, at its root, that she uses it to enhance her own welfare. This is first evident, when she finally realizes that she must find someone to protect her people, her spring, and herself. Lu nette convinces her to take the knight who killed her husband as her new groom, and right away Laudine wants to know about the "name, the rank, and the family of the knight"(30). Then when she finds out that he is actually the distinguished Ywain, she becomes incredibly excited, and wishes him there as fast as humanly possible, or faster. Laudine has no idea of what he is like, but because he is so well-known and strong she will love him. This "love" f... ...ined in "love." Chretien writes about them that, "he was loved and held dear by his lady, and she was loved by him" (113). It is impossible to believe this statement, but that is what Chretien wants. It is also written in the conclusion that Ywain will never "visit any wrong" on his wife again (113). This is just one more statement that insults the intelligence of the reader, because as we have already learned, a man is of no use if he is not repeatedly proven in battle. Chances are Ywain will run off again as soon as Gawain puts pressure on him to do so. This ends the story with two fallacies that Chretien expects to be believed in spite of all the evidence he gives otherwise. Works Cited: Troyes, Chretien de. Ywain: The Knight of the Lion. Trans. Robert W. Ackerman, Frederick W. Locke and Carleton W. Carrol. [City,] Illinois: Waveland Press, 1992. Selfishness in Ywain the Knight of the Lion Essay -- Ywain the Knight Selfishness in Ywain the Knight of the Lion In Chretien de Troyes' Ywain the Knight of the Lion, there appears a substantial amount of writing about noble men and women, and noble deeds. These noble acts consist of knights coming to a maiden's aid, regardless of the circumstances, and pravailing in battles in which they are either hopelessly outnumbered, or seemingly outstrengthed. Chretien's romance about Ywain also stresses a love that takes a man prisoner, a love for which man or woman would surely die for, and in which one loves another more than himself. The ep itomes of these characteristics seem to be Ywain and Laudine. However, Ywain and Laudine are both driven by selfishness. Selfishness in love is evident in both Laudine, and Ywain. However it is more prominent with L audine, simply because much of what is written about her in the story has to do with love, and although love is emphasized a great deal with regard to Ywain, more is written about his fighting evil, and assisting those in need of his strengt h an d courage. Saying that Laudine is selfish in love means, at its root, that she uses it to enhance her own welfare. This is first evident, when she finally realizes that she must find someone to protect her people, her spring, and herself. Lu nette convinces her to take the knight who killed her husband as her new groom, and right away Laudine wants to know about the "name, the rank, and the family of the knight"(30). Then when she finds out that he is actually the distinguished Ywain, she becomes incredibly excited, and wishes him there as fast as humanly possible, or faster. Laudine has no idea of what he is like, but because he is so well-known and strong she will love him. This "love" f... ...ined in "love." Chretien writes about them that, "he was loved and held dear by his lady, and she was loved by him" (113). It is impossible to believe this statement, but that is what Chretien wants. It is also written in the conclusion that Ywain will never "visit any wrong" on his wife again (113). This is just one more statement that insults the intelligence of the reader, because as we have already learned, a man is of no use if he is not repeatedly proven in battle. Chances are Ywain will run off again as soon as Gawain puts pressure on him to do so. This ends the story with two fallacies that Chretien expects to be believed in spite of all the evidence he gives otherwise. Works Cited: Troyes, Chretien de. Ywain: The Knight of the Lion. Trans. Robert W. Ackerman, Frederick W. Locke and Carleton W. Carrol. [City,] Illinois: Waveland Press, 1992.

Captain Morgan Original Spiced Rum :: essays papers

Captain Morgan Original Spiced Rum This AD is about an alcoholic beverage called Captain Morgan Original Spiced Rum. When you first see this AD you can clearly see that the focus of this ad is to make you want to drink. It jumps out and says â€Å"drinking is cool†. It’s saying not directly but indirectly. The focus of it is to make you want to buy this beer because those people are drinking it. They’re having a fun and great time, so the ad can get those people that want to have a fun and great time. The tone of this ad is pretty funny. As you can see the headline of this ad says, â€Å"take off your pants and stay a while†. You can make different interpretations of this ad which makes it even funnier. The voice is also very funny, because of that line. The language is quite funny to me, but some people that do not understand it probably would not enjoy this ad. Some people might think the language is ridiculous and inappropriate. Most young people would find this ad very natural to them. I am not saying that old people wouldn’t like this ad, but some of them might not get it or understand the humor of the ad. It all depends what your definition of humor is. The audience is mainly designed for younger people. I can conclude this by seeing that all the people in cabin are young, maybe in there 20’s. Also they could be snowboarding and not a lot of old people snowboard. So this ad is mainly to attract the younger folks. The design of this is pretty thought out. The whole logo is in red, and the ad is in black and white so they try to catch your attention by doing that. You turn the page in the magazine and all of sudden you see â€Å"take off your pants and stay a while† you probably are going to see what the ad is all about. I think its smart advertising that they have the main logo in red and the alcohol colored but the background in black and white.

Coetzee’s Use of Humor in Disgrace (1999) Essay

After reading Coetzee’s novel (1999) and then the literary criticisms that followed its publication, the inevitable conclusion was that the many different interpretations of the novel demonstrated it reached readers in highly individual ways.   Indeed, it seemed that many of the criticisms were of different books.   The purpose of this paper was to focus on an aspect of the novel that has received little attention, Coetzee’s liberal use of humor or satire in the context of city life in post-Apartheid South Africa during the late 1990s from the viewpoint of the main character, David Lurie in the first section of the novel. Lurie taught at Cape Technical University, previously Cape Town University College.   Because of low student enrollment, the Department of Classics and Modern Languages had been closed and Lurie had been assigned to teach courses in Communications Skills and a single course a year of his own choice in an area of his specialization, Romantic Poetry.   When Lurie, 52-years-old at the time of the novel, had been younger, his impressive physical appearance had allowed him to attract women of his choice with little effort. Attracting women had become more difficult as he aged, and became even more difficult when Apartheid ended and many of its victims, who obviously did not idolize white male â€Å"scholars,† became university students and then faculty.   The views of these students spread to white women, who already had lacked power, relative to white men, before Apartheid ended.   Thus the feminist and civil rights movements that were active in the 1960s in the United States and other democracies in Western Europe did not begin in South Africa until the 1990s, when Apartheid ended. David Lurie’s Story At the beginning of Coetzee’s novel (1999), Lurie was thoroughly satisfied having sex once a week with a beautiful Muslim woman, paying an â€Å"escort† service.   Less satisfactory was his next â€Å"escort,† followed by a secretary in his university department.   Knowing the risk presented by new university policies, he nonetheless seduced a young student taking his course, Melanie, when he accidentally encountered her while on his way home.   Her feelings were clear only the second time they had sex. He had gone to her apartment, she had said â€Å"no† (using her concern that her cousin/roommate would soon return as an excuse), he continued and though she did not fight him, she seemed to â€Å"play dead,† waiting for him to finish.   In his own mind, he concluded that what he did was â€Å"not rape, not quite that, but undesired nonetheless† (p. 25). Later, after she had filed a complaint, he met with the disciplinary committee, composed of faculty (and one non-voting student), and readily admitted his guilt.   However, he refused to offer additional information that they needed in order to recommend to the Rector of the University a course of action other than dismissal.   The Rector, in an effort to avoid asking for Lurie’s resignation, asked him to sign a statement expressing remorse, already written for him by a member of the committee. After refusing to sign and being dismissed, Lurie visited his daughter, Lucy, at her home in a rural area of South Africa, where the satire in the first section inevitably lessened (though did not disappear) because of the most harrowing central event of the second section, the brutal gang-rape of Lurie’s daughter, Lucy, when the rapists also set Lurie on fire and locked him in the bathroom, shot the dogs at Lucy’s kennel, and then leave in Lurie’s car. Criticisms Related to Lurie’s Hearing in Coetzee (1999) One argument against publishing the novel was made by â€Å"prominent South Africans† who were opposed to presenting â€Å"a damaging image of the country† (Attridge, 2002, p. 315).   This argument did not recognize the difference between publicizing historical events and valuing literature, and â€Å"that the only responsible way to engage with Disgrace is as a literary work† (p. 319).   Based on this premise, only literary criticisms have been discussed below.   Few of these criticisms even recognized elements of the novel that were humorous or satiric. Many interpretations had in common a view of Lurie as a symbol of the white male aristocratic elite, a man who had tried to retain the Apartheid privileges of his race and gender, in particular, freedom to initiate sexual relationships with young women who were their students (Boehmer, 2002; Cornwall, 2002; Graham, 2003; Saunders, 2005).    While the view of these critics did, in fact, reflect Lurie’s view of himself, the critics also shared Lurie’s own failure to recognize that the techniques he used to try seducing his women students were thoroughly ineffective for reasons unrelated to any differences in the academic abilities of students before and after the end of Apartheid. For example, as Lurie did recognize, his sexual conquests of earlier years required him to use no techniques at all because women were drawn to his impressive physical appearance.   As he aged, seduction required effort and he hadn’t a clue as to what would and would not render him appealing to young women, regardless of their color. His lack of awareness of the impression he made on others went to the extreme of him not even being able to pay Soraya, a professional from the escort service to continue what he considered a genuine relationship, probably because she found it frightening that he seemed to be following her.   Although she could not have been aware of his fantasies about having sex while her two children watched, it would be understandable for her to have been concerned about the safety of her children because she no longer was able to keep her actual identity private, a precaution any professional prostitute should take. However, Sarvan’s conclusion (2004, p. 27) that the fantasies Lurie (or anyone) had to increase arousal while having sex indicated he had a †moral sickness† was funny enough for Coetzee to have used in the novel itself.   As Attridge (2000) noted, increased â€Å"puritanical surveillance† of once â€Å"private details of sexual intimacy† was not limited to South Africa, but instead reflected the world in general, â€Å"notably . . . the United States† (p. 103) and that in the first section of the book, Coetzee’s writing frequently used â€Å"satire† (p. 103). Lurie recognized that he had â€Å"never been much of a teacher† (p. 4) and after reading a sample of how he taught what did interest him, Wordsworth (when seducing Melanie, he told her that â€Å"the harmonies of The Prelude have echoed within him for as long as he can remember,† p. 13), one shudders to imagine him doing a worse job in teaching Communications (p. 4). Coetzee provided a very brief sample of part of a class on Romantic Poetry Lurie taught (p. 21), so brief that it was funny, rather than mind-numbing as an entire lecture would have been.   After reading a passage from The Prelude, he asked the students why Mont Blanc had been â€Å"a disappointment† (p. 21).   He then pedantically asked them what he already knew – that, of course, none of them had looked up a dictionary definition of â€Å"the unusual verb form usurp upon† (p. 21). Although without a dictionary, context would probably permit automatically inferring a meaning such as â€Å"intrude upon,† Lurie implied the passage would have been clear had they known â€Å"that usurp upon means to intrude or encroach upon. Usurp, to take over entirely, is the perfective of usurp upon, usurping completes the act of usurping upon† (p. 21).   When he was younger, it would seem clear that the young women in his classes found him sexually attractive because they were looking at him, rather than listening. Regarding Lurie’s sexual relationship with Melanie, Lurie did not seem to know whether she was attracted to him, sexually or otherwise.   That she did not resist him when he had sex with her after she had said â€Å"no† could have been because she recognized she could be safe from physical harm – or even that he’d leave more quickly – if she were passive. When she returned to stay at his home, her reason might have been because she feared her boyfriend or that Lurie correctly understood that she did and had a right to manipulate him regarding her attendance and work in his class.   There was no evidence that she feared his â€Å"power† to manipulate her grade in his course. After Melanie had filed a formal charge of sexual harassment (and Lurie really did not have a way of knowing whether or not she was pressured to do so), several criticisms (Boehmer, 2002; Cornwall, 2002; Graham, 2003; Saunders, 2005) seemed to accept Professor Farodia Rassool’s argument that they needed to evaluate whether a statement from Lurie â€Å"comes from his heart† and whether a statement expressing â€Å"contrition† reflected his â€Å"sincere feelings† (p. 54).   Lurie’s term â€Å"preposterous† (p. 55) was literally accurate in the sense that it is not possible to determine the sincerity of a written statement, but it also was difficult to understand why Lurie, who had never before showed any concern about being deceitful, suddenly became a man with principles. He did seem to be mocking Rassool – but it also appeared obvious that she was a humorless woman and regardless of race, she was supported, and without particular warmth, only by the two other women who had been present at a time when she spoke. It indeed was astonishing that Saunders (2005) could have made an obvious error of fact had she read the book, stating â€Å"the faculty committee [italics added] indignantly objects to Lurie’s ‘acceptance of charges’ without remorse† (p. 99). Saunders repeated her erroneous treatment of the Committee as united in the next three pages, Lurie’s â€Å"response does not, from the committee’s perspective, meet the demands of ethical responsibility† (p. 100), â€Å"†¦the committee isn’t convinced that Lurie’s admission is a reflection of his sincere feelings† (p. 101), and â€Å"Lurie’s performance does not fulfill the expectation, shared by the novel’s committee of inquiry †¦ that remorse and transformation† were â€Å"publicly acknowledged† (p. 102).   How was it possible to fail to recognize that the three men at the hearing, â€Å"Aram Hakim, sleek and youthful† (p. 40), â€Å"Manas Mathabane,† the chair of the Hearing (p. 47), and â€Å"Desmond Swarts, Dean of Engineering† (p. 47) had no such expectations, but instead made it clear they wanted Lurie to let them help him avoid being asked to resign? Swarts, for example, said â€Å"David†¦We would like to find a way for you to continue with your career† (p. 52) and Hakim immediately after said â€Å"We would like to help you, David, find a way out of what must be a nightmare† (p. 52). After Rassool urged that the Committee â€Å"impose the severest penalty† (p. 51), Mathabane responded, â€Å"Let me remind you again, Dr. Rassool†¦it is not up to us to impose penalties† (p. 51).   Lurie recognized the men were â€Å"his friends†¦They want him back in the classroom† (p. 52). There was no response after he noted, â€Å"In the chorus of goodwill†¦I hear no female voices† (p. 52), but, oddly, Lurie did not seem to remember that prior to the Hearing, the only other person mentioned as a member of the Committee was a faculty member who â€Å"teaches in the Business School† (p. 47).   During the Hearing, she was presented as â€Å"a young woman,† but her question about his willingness to seek help of any kind (â€Å"a priest, for instance, or a counsellor,† p. 49) suggested she shared the confusion of the men about his refusal to simply save his job, regardless of his opinion, but had no desire either to persuade him to do so or to cause him harm. At the preliminary meeting, the chair of his department was present, a woman who, according to Lurie, regarded â€Å"him as a hangover from the past, the sooner cleared away the better† (p. 40), but the reader had no way of knowing whether she cared about him at all or might in fact want to replace him not because of his discipline but because she would prefer hiring a person who could teach. Coetzee did give the woman who wanted him to express â€Å"contrition† that came from â€Å"his heart† a name indicating she was â€Å"colored† (at least at the time of the novel, no-one suggested it was problematic to divide people into two racial groups – white and non-white, the reason for using the term â€Å"colored†). Combined with Lurie having had sex with a young student who also was not white, Coetzee clearly intended to introduce ambiguity regarding Rassool’s intended meaning of Lurie’s failure to â€Å"mention the long history of exploitation of which this is part† (p. 53).   However, there was no justification for Cornwall (2002) using the races of Rassool and Melanie to reach the (inelegantly worded) conclusion that their relationship can â€Å"be seen to be informed not only by the power relations of patriarchy and the academy but also by those of race; their encounter is contextualized within the several centuries of colonial history in which white men debauched black women with impunity† (p. 315). While many of the conclusions in criticisms related to the experiences that led to and occurred during Lurie’s Hearing were that there was a need for him to express contrition or remorse, the actual events in the novel, as described above, led to the conclusion that Lurie was more of an unintentional anti-hero than sinner. Whatever his reasons were, as an anti-hero, he flaunted both social conventions regarding treating women with respect and â€Å"politically correct† jargon, such as women victims of the â€Å"patriarchy.†Ã‚   Should we thus admire him for the relationships he had with women?   Of course not.   Perhaps the most well-known sexual anti-hero was another Professor, self-confessed pedophile Humbert Humbert (Nabokov, 1955), who demonstrated that indeed the vilest of behaviors can simultaneously be the most comic. While Lurie’s offensive behaviors pale in comparison to those of Professor Humbert, it would seem difficult to fail to recognize that both his typically inept efforts at seduction and his more successful ability to bring out the silliest of exercises in political correctness resulted in devastating humor at an extremely difficult period in South Africa. References Attridge, D. (2000).   Age of bronze, state of grace:   Music and   Ã‚  Ã‚  Ã‚   dogs in J. M. Coetzee’s Disgrace.   Novel, 34, 98-121. Attridge, D. (2002).   J. M. Coetzee’s Disgrace:   Introduction.   Ã‚  Ã‚  Ã‚   Interventions, 4, 315-320. Boehme, E. (2002).   Not saying sorry, not speaking pain:   Gender   Ã‚  Ã‚  Ã‚   implications in Disgrace.   Interventions, 4, 342-351. Coetzee, J. M. (1999).   Disgrace. New York: Viking. Cornwall, G. (2002).   Realism, rape, and J. M. Coetzee’s   Ã‚  Ã‚  Ã‚   Disgrace.   Critique, 43, 307-316. Graham, L. V. (2003).   Reading the unspeakable: Rape in J. M.   Ã‚  Ã‚  Ã‚   Coetzee’s Disgrace.   Journal of Southern African Studies,   Ã‚  Ã‚  Ã‚   29, 432-444. Nabakov, V. (1955).   Lolita.   New York: G. P. Putnam’s Sons. Sarvan, C. (2004).   Disgrace: A path to grace?   World   Ã‚  Ã‚  Ã‚   Literature Today, 26-29. Saunders, R. (2005).   Disgrace in the time of a Truth   Ã‚  Ã‚  Ã‚   Commission.   Parallex, 11, 99-106.