...financial crisis of 2007 transmitted shock waves worldwide urging international governments to prepare defensive measures to combat this economic turmoil. Hence, on 12th October 2008, the Australian and New Zealand governments introduced analogous schemes to guarantee liabilities issued by a wide range of financial institutions whereby prior to this phenomenon, neither nation had deposit insurance arrangements in place, a distinctive characteristic common in other developed nations. The Australian Government introduced a blanket guarantee on deposits namely the Australian Government Guarantee Scheme for Large Deposits and Wholesale Funding until October 2011. Consequently, it was cultured to a scheme in which the first AUD$ 1 million was to be guaranteed free of charge, with larger and foreign branch deposits able to be insured for a fee (Committee, 2009). The Crown Retail Deposit Guarantee Scheme and Wholesale Funding Guarantee Facility were implemented at the same time in New Zealand. The initial coverage was NZ$1 million per deposit-holder per institution, but this was reduced to NZ$500,000 for bank deposits and NZ$250,000 for non-bank deposits in September 2009 when the scheme was extended to the end of 2011 (Committee, 2009). Both governments also introduced unlimited wholesale bank debt funding guarantee schemes available for new borrowings; Whole Funding Scheme and Crown Wholesale Guarantee Scheme respectively in Australia and New Zealand. These schemes were intended...
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...“Is Australian Popular Music of the 20th Century a mere imitation of American Popular Music of the 20th Century?” Validate your viewpoint by referencing specific music styles, characteristic features of music styles (instrumentation, performance style, rhythm, melody, intervals/scales/blue notes, harmony, texture, and form), bands, vocalists and specific songs. The 20th century has provided music that was the soundtrack for a generation. During this period there was a rise of pop music and its demand. American bands and artists were monopolizing the market, pumping out band after band. Record labels that were prominent at the time were Atlantic, EMI and Warner Bro’s records. The rise of the Billboard charts and magazine also played a significant role in the success of pop music. Australia was also producing bands that were ranking very high on the charts with smash hits. This phenomenon of pop music and pop culture has defiantly defined the generations that it came from. By analyzing and discussing the popular music of the 20th century, we can see that Australia is not just a mere imitation of American popular music. Musical Roots The cultural music of Australia can be traced beck through to the Aborigines. They practiced music not as an art form or means of entertainment but rather as a spiritual ritual or a method of story telling. Their influence on Australian mainstream music can be heard today through their instruments the didgeridoo and the clap sticks. In the...
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...On October 4th, 1926 in Timaru, a very special horse was foaled that would affect the way Australians’ live their lives indefinitely. Little did Australia know that this one horse would become the face of a nation. He came to be known as ‘Pharlap’ or better well – known as Australia’s Wonder Horse. He came along at the time of deep economic depression, and his exploits elevated him at a status of an Australian cultural icon. Pharlap triumphed during this gloomy time, when a hero was most needed for the people of Australia. Pharlap was beyond doubt the racing legend of his time, whose achievements captured the public’s imagination during the early years of the great depression, giving hope and security to the people of Australia. The certainty...
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...methodologies and tools that can help managers pursue value innovation systematically and make blue oceans attainable for all aspiring organizations and individuals. Take, for instance, the wine industry. Related: The Cloud-Based Startup Making Waves in Wine Country Historically, the industry has proudly promoted wine as a refined beverage with a long history and tradition. This has alienated a large portion of consumers who have viewed wine as intimidating and pretentious. Alternatives -- beer, spirits and ready-to-drink cocktails -- have captured three times as many U.S. consumer-alcohol sales. The Australian winery Casella Wines addressed these problems with a new strategy that transformed the market, but not by competing on traditional factors. Instead, Casella looked to beer and ready-to-drink cocktails and created Yellow Tail, a fun and easy-to-drink nontraditional wine brand. Yellow Tail was designed to embody the characteristics of Australia's culture: bold, laid back, fun and adventurous. Yellow Tail aimed to represent a leap in value that appealed to a broad cross-section of alcohol beverage consumers. Casella Wines’ success with Yellow Tail was not by luck. Finding that many Americans, too, saw wine as a turnoff, the winery created a new value curve by applying what we call the four actions framework: 1. Eliminate: Which of the factors that the industry takes for granted should be eliminated? 2. Reduce: Which factors should be reduced well below the industry’s standard...
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...contrast consumer behavioral characteristics between Malaysia and Australia in terms of religiosity and materialism. The report follows the structure of analyzing religiosity in Malaysia and comparing advertisements in a secularized nation and how this is important for an Australian marketer trying to sell their product (women’s clothing) in Malaysia. The reports fundamental goal is to further understand how religiosity and materialism influence and affect consumer behaviour. ------------------------------------------------- Religious Subculture Introduction The following report focuses on the specific influences of Religious subculture and Materialism in consumer behavior which shape our values and understanding of purchase behaviours. Religious subcultures are groups in society with homogeneous beliefs and experiences. The global marketplace is exceedingly becoming more influential and powerful than ever before, thus the need to understand consumer behaviour in different cultures and nations is ever so important in our modern world. The concept of religiosity is accountable for differences in consumer behavioral characteristics across the world. The study of religious subculture has found that religion appears to influences a persons behaviour and may also influence well being and life in general. (Hirschman, 1981). The affiliation of religion within a culture has the ability to influences personality, beliefs values and specific characteristics. When analyzing Australia...
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...for cultural differences within a country's borders. As a policy, multiculturalism emphasizes the unique characteristics of different cultures, especially as they relate to one another in receiving nations. The word was first used in 1957 to describe Switzerland, but came into common currency in Canada in the late 1960s. It quickly spread to other English-speaking countries. Looking at the term broadly, it is often used to describe societies, especially nations which have many distinct cultural groups, usually as a result of immigration. Citrin,J., Sears,D., Muste,C and Wong,C. (2001 p.249) describe multiculturalism as “the presence of people of diverse racial or ethnic backgrounds within a single polity.” This paper will look at the impact that multiculturalism has had on western societies and the different changes that have occurred in societies as a result of multiculturalism. It is very important to think about what we mean by ‘culture’ because it is the main part of ‘multiculturalism’. So, multiculturalism means that there are many different kinds of cultures in one society. This can lead to anxiety about the stability of national identity, yet it can also lead to cultural exchanges that benefit the cultural groups. Such exchanges range from major accomplishments in literature, art and philosophy to relatively token appreciation of variations in music, dress and new foods. Multiculturalism can be negative because it is prone to conflicts, especially between ethnic groups...
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...nature of parental involvement in children’s education in the early years of school is investigated, as well as the relationship between parental involvement and children’s learning competence. The analyses use Wave 2 data from Growing Up in Australia: The Longitudinal Study of Australian Children (LSAC) for children in the kindergarten cohort, who were recruited at age 4 into the study. At the time of the Wave 2 data collection in 2006, these children were in Year 1 and 2 at school. Research findings on parental involvement are first briefly reviewed, and then the analyses using the LSAC data are discussed. I Questions considered include: What expectations do parents have for their child’s education? How responsive do parents believe that schools and teachers are to their needs? What contact do parents have with their children’s school and teachers in the early years of school? Does parental involvement predict children’s learning competence? Engaging families in the education of their children at home and at school is increasingly viewed as an important means to support better learning outcomes for children. When schools and families work together, children have higher achievement in school and stay in school longer (Henderson & 34 Family Matters 2008 No. 79 Australian Institute of Family Studies Mapp, 2002; Jeynes, 2005; Pomerantz, Moorman, & Litwack, 2007; Reynolds & Clements, 2005). Although there has been considerable research on how parents influence children’s development...
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...[pic] Leather Industry Capability Map The Australian Industry The Australian leather industry consists of bovine (cattle), kangaroo and sheepskin tanning industries (either part or fully processed). The overall leather industry employs around 2700 people in Australia and has close to $1 billion in revenue. The vast majority of this is from the export of pre-tanned or raw hides which in 2010 was close to $700 million. Production Leather is a textile product made from the skin of animals that has been chemically treated or ‘tanned’ to give it desirable properties such as resilience, flexibility and a whole range of specifications that can be required by end users. The main raw material for leather, the skins or hides, is essentially a by-product of animals slaughtered for meat. A typical skin in its raw state is worth only a fraction of the total value of an animal, so livestock are slaughtered according to market conditions for meat rather than the demand for leather. Australia has large herds of cattle and sheep as well as a large wild kangaroo population giving it a natural advantage in the availability, locally, of a naturally recurring raw material resource which constitutes a significant proportion of the total cost of production. Australia produces approximately 8 million cattle, 24 million sheep and 1.5 million kangaroo hides per annum based on available slaughter numbers. However, Australian finished leather producers must compete with international...
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...Description: Created by two avid surfers, Billabong is a brand designed by surfers, for surfers. In 1973, Billabong offered little more than a small range of surf wear: mainly surfboards and board shorts. But today, Billabong is a brand that encompasses the Australian surf culture by offering products that cater not only for the surfer inside many of us, but for fashion and lifestyle needs. 1.2CURRENT TARGET MARKET Billabong is a brand that offers numerous products designed to accommodate numerous lifestyles. Included in their extensive range are products designed for surfers, general beach goers, skateboarders and the fashion conscious. Comprehensive characteristics of this market are difficult to pinpoint, however, it is the assumption that the majority of consumers are males and females aged between 12 and 35 years of age. Consumer Need: Social Image Need - the most important need satisfied by Billabong 1.3CURRENTLY SOLD In the mid 1980's, just over ten years since the birth of Billabong, the successes of the small Australian brand were being recognised world wide and Billabong products were in high demand. This led to the export of Billabong products to the global market with countries such as the USA, Japan, New Zealand and Europe first in line. Today, the product range available extends as far as 2200 lines in Australia, 1300 lines in the US and many more in over 60 other countries. It is not unusual that the greatest distribution of Billabong products is to coastal...
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...The term ‘Regions of Recent White Settlement’ can be simply described as a phrase used predominantly by economists to characterize areas that were settled mostly though European migration during the nineteenth and twentieth centuries. However, in reality the term has much complexity and a greater dimensionality when trying to define a precise meaning, and furthermore an understanding. By exploring who developed the term in conjunction with conducting investigation into those who further tried to clarify it, we can begin to grasp an understanding of the fundamental characteristics that were exhibited by ‘Regions of Recent Settlement’, and whether or not this is useful as an explanatory model. The term ‘Regions of Recent Settlement’ was developed and used by Ragnar Nurske an international economist and policy maker who worked primarily in the fields of international finance and economic development. He also spent much of his time examining the circle of poverty in underdeveloped countries, linking it to insufficient investment. He used the term ‘Regions of Recent Settlement’ to define “areas which successfully developed during the late nineteenth and early twentieth centuries in response to the stimulus of expanding world trade which accompanied the industrialisation of the North Atlantic economies.” They were areas which experienced a “distinct process of growth which was unique to a specific time period”, being the Mid Nineteenth Century to the onset of World War I or at the...
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...Further Change Introduction 3.1 This chapter describes the major factors driving change in the financial system and identifies some of their implications. The key regulatory challenges posed by these developments are examined in more detail in later chapters. Material presented in this chapter represents preliminary observations of the Inquiry and will be refined and amended as necessary for the Final Report. 3.2 Four key factors driving change are: globalisation; ¾ technology; ¾ consumer needs and demands; and ¾ financial innovation. ¾ 3.3 While this chapter addresses these factors separately, they interact with and affect one another. For example, global competitors have emerged in Australian markets partly because technological developments have enabled them to access Australian consumers. Similarly, consumer demand for certain financial products, such as securitised home mortgages, has been stimulated by technological developments that have made those products both feasible and accessible to consumers. 3.4 This chapter also considers market implications of these driving change, including changes to wholesale markets, financial providers, products, and distribution channels. Some of these implications are evident as early trends now, and the real question factors service market is how . . . 45 Financial System Inquiry quickly such trends will be borne out. Others fall into the realm of the merely possible. In order to frame recommendations about the future...
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...FNCE90012 Mergers & Value Enhancing Strategies Semester 1, 2015 Lecture 1: Fundamentals Lecture 1: Fundamentals Overview of Lecture 1. Fundamentals – Takeovers, acquisitions, and mergers – Three examples – Types of mergers 2. Ownership and Control 3. Merger Statistics 4. Why Do Mergers Occur? Readings • Brealy, Myers, Allen, 2011, Principles of Corporate Finance, 10th edition, Chapter 31. 1 1. Fundamentals 2 Takeovers, Acquisitions, Mergers and Schemes • Takeover – One firm (the bidder) acquires control of another firm (the target) by purchasing the voting shares of the target from the shareholders of the target – The consideration paid by the bidder may be cash and or shares (in the bidder) – Usually conducted on a hostile basis whereby the managers of the bidder do not consult with the managers of the target firm prior to launching the bid – A full takeover involves the bidder acquiring 100% control of the target. A partial takeover involves the bidder acquiring less than 100% control. Takeovers, Acquisitions, Mergers and Schemes • Acquisitions – In general, the purchase of an asset by a firm – Includes purchases of single assets from a supplier or the purchase of the business undertaking and assets of another firm or the purchase of the voting shares of another firm Takeovers, Acquisitions, Mergers and Schemes • Merger – A negotiated deal between the managers of the bidder and the managers of the target which effectively results in...
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...Resorts and Climate Change Name: Institution: Date: Resorts and Climate Change Introduction Resort business is affected greatly by different climatic conditions. The purpose of this report is to identify and discuss the potential impact of climate change on beach resorts and destination resort marinas. The report will: evaluate the fundamental issues and trends that relate to developing, managing, and operating beach resorts and destination resort marinas; outline the internal and external factors influencing the market position of property; review the social, environmental, and economic issues that relate to planning and development process of resorts; and lastly, critique sustainable practices and policies related to resorts. Wherever appropriate, particular reference will be made on resort sector particularly in Western Australia and across other coastal areas in Australia. For example, Perth is popular for beach resorts and destination marina resorts owing to its proximity to the coastline. Indeed, the region is an attractive site for tourists. According to Pham, Simmons and Spurr (2010), tourism contributes significantly the total GDP and resort business is a major economic activity in Western Australia. Development, management and operation of beach resorts and destination marina resorts: key issues and trends Most resorts in Australia are in situated in regional zones. In Australia, major development...
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...Consider the way in which two texts seek to question and disrupt the ‘traditional certainties’ of gender. The sixties gave birth to a new gender revolution, which especially affected the women in Britain. ‘Second Wave Feminism’ began to fight for general rights for women, as the ‘first wave’ of feminism was the fight for female suffrage. Second Wave Feminism was the further insistence that women and men are both equal and the same. The concept of ‘traditional certainties’ in relation to gender is very much a pre-1950s concept – and is much to do with gender roles and sexual norms. Throughout the 1960s (and also the 1970s) a number of laws were put in place that created a new step forward for females in Britain which included the Legislation of Abortion Act (1967), the Divorce Act (1969) and the Equal Pay act (1970). Along with the invention of the Pill, these new legal rights for women gave new freedom and equality that was never employed before; for example, women were paid on average two thirds the amount that men were paid for the same job. This new feminist agenda of societal equality began to spread through literature, art, film and television. Feminist views were now spread more widely, whether than be by subliminal means like some literature pieces, or a more profound and upfront approach: such as in the James Bond literature and film franchise which portrayed it’s heroines as powerful and independent women. In this critical essay, I intend to evaluate the popular...
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...Joint attention Does joint attention facilitate language acquisition in children? Joint attention is that shared focus of two individuals on a single object. This is simply achieved when one of the individuals alerts the attention of the other to the object mainly through pointing, eye gazing or through the use of verbal and other non verbal indications. An individual focuses their gaze on the other individual, points their finger on the object and then returns their gaze on the individual. Cross sectional description of a child’s ability to follow an eye gaze was first presented by researchers Scafie and Bruner the first time in 1975. They found out that children aged between eight to ten months followed a line regarded to them, children between eleven and fourteen months old also did the same. This form of early research showed that it is possible to bring objects to the attention environment of an infant through the use of an eye gaze (Moore & Dunham, 2009). A good development in language is of critical importance when it comes to an infant’s readiness for school and achievement in academics (Janus & Offord, 2007). Language development is also a key facilitator in the development of social skills of an individual which optimizes the involvement of the individual in social and economic activities of the society (Zubrick et al., 2009). There is increased attention from researchers in early child development in language so s to better understands human development. Language...
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