Top 3 Leading Telecom Providers in the Philippines

Smart Communications, Inc. (Smart) Background Smart Communications, Inc. (Smart) is the Philippines' leading wireless services provider with 52. 1 million subscribers on its GSM network as of end-September 2012. Smart has built a reputation for innovation, having introduced world-first wireless offerings such as Smart Money, Smart Load, Smart Padala, the Netphone, and Smart LTE—the world’s first multi-band LTE service.Smart also offers 3G and HSPA+ services, while its satellite service, Smart Link, provides communications to the global maritime industry. Smart Broadband, Inc. , a wholly-owned subsidiary, offers a wireless broadband service, Smart Broadband, with 1. 69 million subscribers as of end-September 2012. Smart is a wholly-owned subsidiary of the Philippines' leading telecommunications carrier, the Philippine Long Distance Telephone Company. Programs Globe Telecom Inc. BackgroundGlobe Business is the corporate arm of Globe Telecom, the leading mobile telecommuni cations company in the Philippines. Globe Business provides wireless and wireline solutions for a diverse set of industries, businesses, and commercial enterprises. We assure affordable, reliable, and dependable services for all your communication needs. At Globe Business, we provide you solutions that fit. Globe Telecom has a very established history in telecommunications for both consumers and businesses.A pioneer in mobile telecommunications, Globe Telecom seeks to create and deliver products and services that bring customers closer to their aspirations, and connect them with the people and events that matter to them the most. Globe Telecom caters to more than 25 million people, along with 650,000 wireline and broadband users. The company also counts 100,000 businesses among its clients. Globe Business offers you wireless and wireline solutions that address all your company needs, ensuring your enterprise the highest possible profit for the lowest possible cost.

Mimicking Insider Trading

Introduction Much of the field of finance Is focused on creating abnormal returns?that is to say. Returns that are different from what one might expect them to be based on various characteristics of the investment?by identifying so-called â€Å"inefficiencies† in the stock market. Perhaps one of the most well-known strategies for taking advantage of these Inefficiencies, a strategy widely discussed In academic as well as Industry literature, is following the trades of company insiders.In the united States, company insiders are required to report to the SEC any time they engage in a purchase or sale of their rim's stock. Within two business days following the date of the trade. This Information, once reported to the SEC, Is subsequently made available to the public almost immediately, allowing outsiders to see exactly how insiders are trading.When insiders trade based on material non-public information and earn abnormal returns, it is a violation of the strong form of the Effic ient Market Hypothesis, which itself is not backed by any significant emplace evidence, However, If outsiders are able to earn abnormal returns by mimicking Insider trades, this becomes a violation of the ideal-accepted semi-strong form of the Efficient Market Hypothesis, which states that the price of a stock incorporates all publicly available information.The academic literature contains many studies which attempt to generate excess returns by replicating Insider trades, with varying degrees of success. While some early studies (Gaffe 1994, Finery 1996) claimed that outsiders were indeed able to create a small amount of excess returns, a later study by University of Michigan Professor H. Negate Shun concluded that once these trades accounted for transaction costs, the excess returns would be nearly zero. Later studies by Rezone and Zamia (1988).Line and Howe (1990) and Frederica, Gregory, Mahatma and Tones (2002) have also reaffirmed that transaction costs depleted all the excess returns from these studies. (1)On the other hand, several studies conclude that it is possible to earn excess returns by applying a â€Å"mimicking strategy' selectively. For example, Lakefronts and Lee (2001) conclude that if an investor mimics only large trades and only by the top management of a company (excluding board members, majority shareholders and other company employees), an outsider could in fact generate excess returns.Other theories suggest that It Is possible to successfully replicate Insiders trades by using the strategy in markets outside the US, such as in the Italian, German and Spanish markets. [l] A critical factor in determining whether an outsider will profit from replicating the trade of an insider is the motivation behind the trade. Insiders are likely to engage In Insider trades for a number of reasons, not all of them connected to Inside Information on future firm performance. An Inside trade that Is ambulated by liquidity or diversification needs is unli kely to contain any â€Å"predictive power and exult in any abnormal return for an outsider.While it's relatively obvious that the Insider's motivation In making an Inside trade Is a key factor in determining how successful the outsider's mimicking trades will be, existing academic literature has, for the most part, been unable to take advantage of this factor to increase returns on test portfolios. Were outsiders able to identify the motivation behind the insider's it might become possible to create a portfolio of performance-predicting trades, which would generate abnormal returns. In a 2007 paper entitled â€Å"Decoding Inside Information†, (Cohen et al.Harvard University and University of Toronto professors test an innovative and original approach to mimicking insider trades. By using a simple algorithm, the strategy attempts to separate insider traders into two categories: opportunistic traders and routine traders. Specifically, the algorithm involves analyzing the past three years of an insider's trading history, and identifying as routine traders those who had made inside trades in the same calendar month for three consecutive years. The remaining insiders, approximately, 45% of Cohen et al. ‘s sample, is identified as opportunistic traders.Insiders without three years of trading story are discarded from the sample entirely. Cohen et al. Test whether the trades made by these â€Å"opportunistic traders† contain any predictive power relating to firm performance, and how the trades of â€Å"routine traders† perform in comparison. Methodology In order to test the efficacy of this strategy, the authors construct four test portfolios at the end of month t, comprised of month it's: a) Opportunistic buys b) Opportunistic sells c) Routine buys d) Routine sells At the end of each month, the portfolios are rebalanced to reflect the routine and opportunistic inside trades and buys in that month.The objective of using these oratorios is to test whether or not there is any added value in separating routine traders from opportunistic traders, using the algorithm designed by the authors. In other words, the study tests whether following only those insiders identified by the algorithm as â€Å"opportunistic† could yield a positive alpha, and how this compares to the returns of the â€Å"routine trader† portfolios. As noted above, the SEC requires insiders to report transactions within two business days following the trade (prior to the enactment of Serbians-Solely in 2002, insiders had until the 10th day of the following month to report the trade).In the sample used by Cohen et al. , nearly all of the trades were reported on the day on which the insider made the trade. (2) As such, by the time the portfolios are rebalanced at the end of each month, information on these inside trades would have been publicly available knowledge. Nonetheless, it is important to consider the potential implications of this on the results of the strategy. Predictive Ability of Routine vs. Opportunistic Trades In order to determine whether the â€Å"opportunistic† traders, as defined by Cohen et al. s algorithm, actually contain any predictive power, the authors run pooled aggressions of returns on indicators of routine and opportunistic trades in the prior month, with future one-month returns as the dependent variable. The findings reveal that both the buy and sell opportunistic trades contained much greater predictive power than routine buys and sells. The results reveal that opportunistic buys yield average returns 0. 90 basis points (with a t-statistic of 4. 46), 76 basis points higher than that of routine buys. With a p-value of 0. %, the difference is significant. It is much better indicator than considering all insider buys. Testing opportunistic versus outing sells exhibits similar results, with a coefficient of -0. 78 in the regression of opportunistic sells, and 0. 04 in the regression of routine sells. The difference is again significant with a p-value of 0% (F=29. 30). See Table 1 in Appendix for full results. Alpha The authors test for the presence of abnormal returns using several different asset pricing models, including the CAMP and the Fame-French model, as well as others.While the tests use two different types of portfolios, one value-weighted and one equally weighted, the findings are similar and the results below will therefore focus only on the equally-weighted portfolio. In the case of opportunistic versus routine buys, the results indicate monthly CAMP alphas of 1. 51% (with a t-ratio of 5. 89 and p- value The results indicate that longing opportunistic buys, and shorting opportunistic sells could yield significant excess returns. An equally-weighted portfolio of opportunistic buys and sells yields a monthly CAMP alpha of 1. 81%, and a monthly Fame-French alpha of 1. 41%, with respective t-ratios of 5. 6 and 5. 04. Based on these results, it is evident that by separating routine and opportunistic trades from trades motivated by liquidity and diversification needs, and following only the former, outsiders may be able to significantly outperform the market. Distribution of Returns While the study by Cohen et al. Goes not provide much information on the characteristics of the distribution of returns on the various portfolios used in their study, looking at other sources which study insider trading strategies may provide some insight into this issue. This information is highly relevant to risk-averse investors, to whom the probability of losses may be as important as the expected return. In Investment Intelligence from Insider Trading, H. Negate Shun finds that the probability of loss (defined as earning lower returns than an investment in the market portfolio) on a single mimicking transaction is 49. %, excluding transaction costs, and 51 . 7% when transaction costs are taken into account. (3). When combined with the study findings o n average return, which falls in the 2-3% depending on the minor variations in the study various tests of the strategy, the approximate 50-50 arability of loss indicates a positive-skewed distribution. As such an investor must mimic a large number of insider trades in order to earn returns near the average of 2-3% in Shunt's findings. While the relatively high probability of losses may seem risk averse investors, as it indicates a smaller probability of extreme negative losses.Although there are substantial differences between Cohen et al. ‘s study and Shunt's study?likely the most important of which is that Shun does not differentiate between routine and opportunistic insiders as Cohen et al. Do?the results from Shunt's study may be an indication that the distribution of Cohen et al. ‘s results are positive-skewed as well. Indeed, it is likely that following only opportunistic traders would both reduce the probability of extreme negative losses, as well as increase the probability of extreme positive gains, thereby resulting in an even further positive- skewed distribution.In addition, the high probability of loss illustrated in Shunt's findings would likely also be reduced when following only opportunistic traders. Trading Costs and Refinancing Because this strategy involves relatively active trading, its costs (commission fees and id-ask spreads) will undoubtedly be higher than those of a buy and hold strategy. That said, when the strategy is applied selectively, as is the case in the Cohen et al. Study (I. E. By mimicking only opportunistic insiders rather than all insiders) trading costs can be significantly reduced.In Cohen et al. ‘s study, the test portfolios are rebalanced at the end of every month, based on that month's opportunistic insider trades. In both the opportunistic sell and opportunistic buy portfolios, outsiders would be able to profit by shorting and buying, respectively, holding for a month, and balancing at the end of e very month. Monthly refinancing requires immediacy, and the stocks would need to be purchased and sold using market orders. The outsider would thus incur the additional costs off larger bid-ask spread.Outsiders may potentially be able to rebalanced less frequently, submitting limit orders instead of market orders, holding on to the stocks for longer periods of time, and still profit. According to Shunt's findings,(4) in the case of an â€Å"insider buy', the profits are realized over the course of several months. (5) As such, the outsider may be able to educe refinancing to twice a year, and hold on to â€Å"insider buy' stocks for 6 months. In this case, the outsider could likely afford to submit a limit buy order and wait a few days before it executes.However, this does not apply in the case of an â€Å"insider sell†, as there is no evidence to indicate that these profits are realized over a period of many months. As such, monthly refinancing it necessary. Barriers to Imp lementation In reality, while the strategy would certainly not be difficult to follow for an institutional investor or a sophisticated individual investor, it would perhaps present mom challenges for the average investor. In Investment Intelligence from Insider Trading, Shun advises that an investor mimic close to 100 insiders, in order to reduce the probability of loss to an acceptable level. 6) Granted, applying this to a strategy which differentiates between opportunistic and routine traders would likely require an outsider to follow a smaller number of insiders in order to obtain a reasonably limited probability of loss. Another potential barrier for the average investor is differentiating between routine and opportunistic traders. While Cohen et al. Ere able to accomplish this, as would institutional and sophisticated investors, it resources to successfully differentiate between the two types of insiders.While these issues may not be particularly large obstacles, they do presen t additional considerations and challenges for the individual investor. Insider Trading and Serbians-Solely An interesting point to consider is the impact of changing SEC reporting regulations on an outsider's ability to profit from following insider trades. A Stanford University study (Zealand 2005)(6) tested the success of a generic â€Å"mimicking strategy' in the ears leading up to Serbians-Solely, versus the success of the strategy in the years following the enactment of the new legislation.The study found that in the first 27 months, it was possible to generate excess returns of up to 17. 67%, including trading costs. After this period, however, it was no longer possible to obtain these returns, likely because the market had fully adjusted to this new source of public information. Looking forward, it is possible that any further changes in SEC regulation make information more readily accessible with a smaller delay, will present investors with another opportunity to earn addi tional returns before the market is able to react.Strategy Comparison While Cohen et al. Are the first to attempt to generate excess returns by differentiating specifically between routine and opportunistic traders, a number of studies in the academic literature have sought to increase returns from following insider trading by applying the strategy in various other selective ways. Although the â€Å"routine vs.. Opportunistic† strategy appears to be the most successful thus far, several other versions of the strategy have also managed to create excess returns.A duty conducted in Sweden (Ayatollah and El-Marin, 2005) reveals that replicating insider trades of stocks listed on the A-List and Attract 40 (the Swedish stock indices reserved for larger companies with significant operating history) does not generate abnormal returns at a significant level. On the other hand, replicating buy transactions of â€Å"insider clusters† (multiple firm insiders making similar trades in the same time period) of firms trading on the O-list (designated for companies which lack the requisite operating history or size for listing on the more established lists) could generate abnormal returns up to 33. , excluding transaction costs. By selectively applying a mimicking strategy to smaller companies rather than larger ones, to buy transactions rather than sell transactions, and to insider clusters (numerous firm insiders making same-type trades in a given period of time) rather to individual investors,(7) an outsider may be able to generate excess returns. The study conducted by Shun, which examines 60,000 insider transactions on the NYSE from 1975-1981, reveals similar results. Over the course of 100 days, the buy transactions exhibited excess returns of 3%, while the sell transactions underperformed the racket by 1 . %. In other words, an outsider may have been able to profit by going long â€Å"inside buys†, but not by shorting â€Å"inside sells†. He also found that there has been a greater amount of uninformative sell transactions that have taken place in the ass, compared to the ass-ass(8), it could be that since sass, the amount and frequency of stock compensations has greatly and continuously increased,(9),thus it into routines and opportunistic you would be able to keep the informative transactions and be less affect by this tendency.Shunt's results also indicate that placating insider trades in smaller firms generated higher excess returns than insider trades in larger firms. (10) It may be easier to generate excess returns by replicating insider trades in smaller firms, because these insiders are typically subjected to less scrutiny by analysts and by the media than their counterparts in larger firms. As such, they may be more willing to engage in profitable, â€Å"performance- predicting† trades than insiders at larger firms. However, it's also possible that these trades generate higher expected returns simply bec ause they have increased risk.In order to compensate investors for this risk, investments in smaller firms can be expected to generate higher returns, as reflected in the Fame French model. Similar to the Swedish study, a study conducted by Jenny et al. (1999) (7) also found replicating insider cluster transactions to be more profitable than replicating individual insider transactions. The rationale behind this?that same-type transactions from multiple firm insiders within a given period is likely motivated by insider knowledge rather than by investor-specific needs–is fairly obvious. 11) Cohen at al. Observe similar results in Decoding Inside Information. The study findings indicate that a one- standard deviation increase in the log number of opportunistic sells translates into a decrease in future returns of 29 basis points per month (excluding the specific days each year when firm executives receive stock compensation and subsequently liquidate some of their stake in the f irm). (12) By differentiating between routine and opportunistic traders as Cohen et al. O, outsiders can avoid these routine sells, and mimic only informative inside clusters. Looking Forward Although Cohen et al. And others have illustrated various ways in which outsiders ay be able to generate excess returns by mimicking insider trades, several potential obstacles may stand in the way of this strategy in the future. As with any market inefficiency, increased popularity of the strategy as well as increased accessibility to information on insider trades may cause a decline in future returns.Today, there are already a multitude of web sites that allow outsiders to track insider trades, making information about such trades readily accessible to the average investor. As a growing number of outsiders attempt to replicate these trades, it is likely that it will come increasingly difficult for investors to mimic trades in time to capture any gains. Another potential threat to this strateg y is the proliferation of endowment assurances, which firm insiders use to take advantage of offshore solutions in order to hide their transactions. Insiders are therefore able to trade stocks and derivatives of companies â€Å"anonymously', and avoid reporting insider trades to regulators. This would obviously prohibit outsiders from gaining access to and mimicking insider trades. (13) Lastly, increased penalties for insider trading could also threaten the success of the strategy. Cohen et al. How that during periods with increased cases of investors being prosecuted for insider trading, the number of trades identified as â€Å"opportunistic† decrease. In other words, insiders take seriously the risk of being caught and charged.

Jetstar

Task 1 a) Executive Summary 1. Brief description of products and services Domestic Air Freight International Air Freight Freighter Charter Ground Handling Retail Fleet and Equipment Online Solution 2. Define Target Market 3. Competative Advantage 4. Positioning Statement 5. Anticipated sales, profits and market share The Jetstar Group is the largest low cost airline in the Asia Pacific by revenue and has flown over 100 million passengers since it launched in 2004.During fiscal 2011-2012, the airline carried more than 20 million passengers, making Jetstar the fastest-growing airline in the Asia Pacific to reach this milestone in seven years of flying. The Jetstar Group has grown from providing employment to 400 people in 2004 to more than 7,000 across the Asia Pacific today. Collectively the Jetstar Group offers over 3,000 flights a week to 57 destinations in 16 countries and territories across the Asia Pacific region with a fleet of around 95 aircraft.Jetstar is a value based, low fa res network of airlines operating in the leisure and value based markets. Jetstar’s mission is to offer all day, every day low fares to enable more people to fly to more places, more often. Strategy and structure Jetstar is part of the Qantas Group’s two-brand growth strategy, where Qantas competes at the premium and business market and Jetstar focuses on leisure markets. The Jetstar Group comprises: Jetstar Airways in Australia and New Zealand (wholly owned by the Qantas Group) Jetstar Asia based in Singapore.The company is managed by Newstar Holdings, majority owned by Singapore company Westbrook Investments (51 per cent), with the Qantas Group holding the remaining 49 per cent Jetstar Pacific based in Vietnam (majority owned by Vietnam Airlines with the Qantas Group holding 30 per cent) Jetstar Japan, a partnership between the Qantas Group, Japan Airlines, Mitsubishi Corporation and Century Tokyo Leasing Corporation Jetstar Hong Kong, a partnership between China Eas tern Airlines and the Qantas Group (subject to regulatory approval). BrandThe Jetstar brand design is based on the Southern Cross constellation, with the orange star representing the smallest star of the Cross, Epsilon Crucis. The airline’s colours, orange, silver and black were chosen for their bold and modern feel. Fleet Current fleet: As of December 2012, the Jetstar Group fleet consists of 96 aircraft, including: 79 Airbus A320-200 aircraft, seat-configured for up to 180 passengers Six Airbus A321 aircraft, seat-configured for 220 passengers 11 Airbus A330-200 aircraft, with two cabins (economy and business) for up to 310 passengers Fleet orders:Jetstar has ordered 14 Boeing 787 Dreamliners, which are due to be delivered in 2013. These new-generation aircraft include features such as larger windows, improved cabin pressure to reduce jetlag and fuel consumption about 20 per cent lower than similar-sized aircraft. In August 2011 the Qantas Group placed an order for 110 Airb us A320s. The Jetstar Group has access to these aircraft to facilitate its growth. This includes 78 A320 NEOs (New Engine Option), which reduce fuel consumption by 15 per cent and will be available for delivery from 2015. In total, Jetstar has about 150 aircraft on back order.Network The Jetstar Group’s network is made up of 56 destinations in 16 countries and territories. Check out our interactive route map to find out exactly where we fly. Low fares Jetstar aims to have the lowest fares on all the routes it operates and backs every fare with a Price Beat Guarantee. Should any customer find a lower fare online, on the same day, same route and at a comparable time, Jetstar will beat the fare by 10 per cent. Customer experience Jetstar customers only pay for what they need. Customers can choose between two types of fares – Economy or Business (on selected international flights).Once a fare is selected, customers have the option to add on checked baggage between 15 †“ 40 kilos per passenger and/or a bundle of extras, which can include seat selection, in-flight products, fare flexibility, lounge access and Qantas Frequent Flyer Points. For domestic flights on Jetstar Australia and New Zealand, passengers may choose to purchase a variety of snacks and beverages. Depending on the length of the flight, hot meals are also made available for purchase. On Jetstar Asia’s short haul flights, a variety of snacks, beverages, hot meals, comfort items and duty free goods are available for purchase.On long haul flights (onboard the Airbus A330-200), economy class passengers can choose to pre-purchase a variety of meals, entertainment, and comfort options to customise their flight experience. Business class passengers enjoy wide comfy leather seats in a separate cabin and inclusions such as meals, entertainment and comfort packs along with seat selection and additional baggage. Business passengers who choose a Business Max bundle also benefit from lo unge access, Qantas Frequent Flyer Points and Qantas Frequent Status credits.Interline and codeshare partners The Jetstar Group has three codeshare partners on select Jetstar routes, being Qantas, Japan Airlines and American Airlines. The Jetstar Group has 25 interline partnerships on select Jetstar routes: American Airlines, Aircalin, Air Canada, Air France, Air Niugini, Air Pacific, Air Tahiti Nui, British Airways, Cathay Pacific, Dragonair, Emirates, Etihad, Finnair, Japan Airlines, Jet Airways, KLM; LAN Airlines; Lan Argentina; Lan Ecuador; Lan Peru; Lufthansa; Qantas; Qatar Airways; Royal Jordanian and United.Performance Jetstar has been profitable every year since its launch in 2004. The airline delivered a record Underlying EBIT (Earnings Before Interest and Taxes) of AUD$203 million in 2011-12, a 20 per cent increase on the previous financial year. In the same period, Jetstar grew overall capacity by 14 per cent and carried 20. 6 million passengers, an 11 per cent increase o n the previous financial year. Awards Jetstar Airways Awards: Best Low-Cost Airline – Australia/Pacific 2012 and 2011 (Skytrax) Partner of the Year 2012 – Changi Airline AwardsTop 5 Airlines by Absolute Growth in Cargo Carriage 2012 (Changi Airline Awards) Best International Budget Airline 2011 (About. com Readers’ Choice Award) Best Low-Cost Airline – Australasia 2009 (Skytrax) Top 5 Carriers for Passenger Growth 2009 (Changi Airline Awards) Low-Cost Carrier of the Year 2008 and 2007 (CAPA) Best Low-Cost Airline Asia Pacific 2008 (Budgie$) Best Low-Cost Airline – Worldwide 2007 (Skytrax) Best Cabin Crew – Australia and New Zealand 2007 (Skytrax) Operational Excellence 2007 (Airline Business) Jetstar Asia Awards:Top 10 Airlines by Passenger Carriage – 2012, 2011, 2010, 2009, 2008 and 2007 (Changi Airline Awards) Largest Growth in Passenger Traffic from Singapore 2011 (Changi Airline Awards) AsiaOne People’s Choice Award for Bes t Budget Airline in 2010 Best Brand Experience Low Cost Airline in 2008 (Ad Asia Magazine) Best Asia Low Cost Carrier 2006-2007 (Changi Airline Awards) Best Low Cost Airline -Asia and South East Asia 2006 (Skytrax) Low Cost Airline of the Year 2006 Merit Award (CAPA) Best Budget Airline of the Year 2006 (TTG Travel Awards)Jetstar Pacific Awards Vietnam’s most popular e-commerce website 2008 Bruce Buchanan, CEO of Jetstar, admits that new |low-cost airlines would increase competition but Jetstar would thrive through fleet expansion and new marketing strategies. Why have so many airlines that have subsidiaries, including THAI, Singaporean Airlines and Malaysian Airlines, adopted a multi-brand strategy? The Qantas Group's two-brand strategy, utilising both Qantas and Jetstar brands, allows the group to design and grow products that suit the specific needs of a broad customer base.This strategy sees the Qantas brand focus on the premium and business traveller – with produc ts and a route network catered for these groups whilst Jetstar focuses on serving the needs of the leisure and value-oriented traveller. By having â€Å"two brands† the Qantas Group is able to assess different market opportunities and deploy the best product to suit the opportunity and specific market conditions. In Europe, we know that Ryan Air is the biggest low-cost. Who is the biggest in Asia now? How does Jetstar position itself in this market?In terms of revenue, Jetstar is the biggest. In terms of fleet size, we believe AirAsia to be the biggest. It is our intention to continue to grow our Pan-Asian strategy and to be a leading low-fares carrier in the Southeast Asian region. What are Jetstar's plans to enhance competitiveness? Jetstar's Pan-Asian strategy is providing the core platform for our competitiveness. We are currently looking at regional growth opportunities and new services from our growing networks from bases in Singapore, Australia, New Zealand and Vietnam .A key focus for us is looking for network opportunities that allow us to maximise existing networks and complement existing flying as well as looking at brand new opportunities in Asia. The growth in the awareness of our brand really supports the growth of our networks throughout Asia and provides us a strong competitive advantage. As Jetstar matures in the region, our ability to consistently offer the lowest fares on the routes we serve and our ability to focus our marketing and business |model around this core offering continues to provide us with an attractive and compelling customer offering.Our strong association with Qantas and its industry-leading safety standards is also a powerful association as we grow in Asia. What plan does Jetstar have to start new flights to both existing and new destinations? What plan does Jetstar have to expand its fleet? For the remainder of the financial year 2010/2011, Jetstar will add a further eight A320 aircraft and two A330 aircraft into its groupwide fleet for opportunities in Australia, New Zealand, Singapore and Vietnam.This will involve introducing first time long-haul flying from Singapore when the carrier commences direct daily services between Singapore and Melbourne on December 16 and then direct daily services between Singapore and Auckland on March 16, 2011. Jetstar Asia will welcome an additional two A320 aircraft this year for flying from Singapore and an additional A320 aircraft will be added to domestic New Zealand flying. Jetstar's China expansion will continue with flights to Guilin in southern China from Singapore to also soon commence – representing its sixth collective Chinese mainland or wider China destination.In the medium to long term, Jetstar will be looking to grow its existing fleet of nearly 70 aircraft by an additional 50 aircraft over the next five years. In mid-2012, the carrier will welcome its first Boeing 787 Dreamliner, Jetstar becoming the first carrier in the Jetstar group to operate these state-of-the-art aircraft. Jetstar is scheduled to receive 15. What is Jetstar's marketing strategy for the rest of 2010? What new services does Jetstar plan to offer? Jetstar will be expanding services in all markets over the course of the current financial year.In Australia, we will be adding up to 30 per cent additional domestic capacity for the financial year ending 2011. In New Zealand, we have recently announced an additional two A320 aircraft to be based in New Zealand, representing an additional 717,000 seats annually. In Singapore, we will be adding an additional two A320 aircraft to its fleet of 10 based in Singapore by the end of 2010, which is in addition to the commencement of first time value-based long-haul flying from December, which will eventually see two A330 aircraft based in Singapore.At Jetstar Pacific in Vietnam, we are planning the introduction of its second A320 aircraft to join its existing fleet of five B737s and one A320 this calendar year a s part of a fleet renewal process towards a future all-A320 operation. How has Jetstar performed financially, and what are your expectations looking ahead? Jetstar Brands posted an EBIT of $131 million Australian dollar for the financial year ending June 2010. How does Jetstar perceive the competition once Thai Tiger Airways gets off the ground and how will you cope with it given that several low-cost irlines are competing in the same areas. Will price-cutting be the answer? The Thai market has always been a competitive one and we don't expect that to change as new entrants come onto the market. Of all the low-cost carriers, Jetstar is the only one to offer a low fares guarantee which stipulates that should a customer find a lower-fare online on the same date at a comparative time to a Jetstar service, Jetstar will be discount that fare by 10 per cent.

What are the steps for improving semantics as outlined in your Essay

What are the steps for improving semantics as outlined in your textbook Explain them - Essay Example This may be different from what the same word connotes to different people that is its implied meaning. The order of words in sentences is important in providing us their meaning more clearly than the words themselves (Kholoud 714). In order to improve semantics, our word choice and arrangement should help to clarify meaning and show respect. The way the words flow in the sentence clarifies what they mean and shows us the context in which they have been used. The use of specific language or words that narrow the meaning down from a general set to one item or inclusive group. This is the use of precise words to clarify the meaning of the phrase. This addresses the problem of semantic under specification where the meaning of a word is not complete without certain elements of context.  Another way is by the use of concrete language. This is the use of words that appeal to the intellect. Such words assist you to clarify semantic meaning by boosting understanding. Such words appeal to the senses and are related to feelings evoked by certain words or phrases. Use of language that is familiar to the recipient can diffuse confusion in a sentence. This is because familiar language is in a language context understood b y the recipient enhancing clarity and dispelling ambiguity. Through the use of descriptive details and examples in your content, you can improve semantic meaning by enhancing visual perception in the mind of the recipient. Visual descriptions help the listener to create a mental picture of what is being said and understand the concept better (Kholoud 716). Such tools increase clarity particularly in eliminating any form of ambiguity. When local and familiar examples are used in statements, listeners tend to understand the intended message and may seek further clarification with certainty. Localised examples also eliminate confusion since the explanations become customized per se. Sensitivity in communication is attained by being

Empowerment and Goal Setting Essay Example | Topics and Well Written Essays - 500 words

Empowerment and Goal Setting - Essay Example It is management's responsibility to create an environment in which that knowledge is brought out and used for the benefit of the people and the organisation. An employee's ability to solve problems, make decisions and take actions based on those decisions, management has often encouraged the first two but has failed to allow the third. (Holbeche 2004, p.60). Three organisations utilising the empowerment process are Delphi Packard (Delphi), Virgin Mobile and Ritz Carlton Hotels, all three organisations are applying the process differently and with differing results. Delphi is applying empowerment as stated in the Holbeche quote from a management perspective, the lead engineer responsible for the day to day engineering management of the Ford Transit Project, has been empowered to request overtime for contractors and permanent staff. The necessity for it and the amount of time required needs to be agreed by senior management. The lead engineer also has the responsibility for giving appraisals and assigning staff responsibilities. All of which merely removes some of the repetitive tasks from the HR department. In opposition the junior staff at Delphi have been given more empowerment as an engineer can act on his decision to make changes to the system without the need to consult the lead engineer.

Introduction to Outdoor Leadership Self-reflection Assignment Article

Introduction to Outdoor Leadership Self-reflection Assignment - Article Example Part of being a leader is explaining things in a clear and concise manner so that the people who I am leading can carry out the instructions that I give them. A negative part of this experience was that I was not always able to lead people as I would have liked. My communication skills, or lack of them, made it difficult for me to get my point across on occasion. This is something that I have learned from this experience. I need to work on my communication skills because this makes a leader either ordinary or great. I feel that am someone who can show what I want others to do, but I have a very hard time explaining it in words. I would like to improve my skills in this area so that I can become a better leader. 2. My father was someone who has influenced me the most about the outdoors. He would always take me out camping because he said that it was good to get away from all the noise and everyday living in the city. I look back on these times as good memories because I always enjoyed exploring new things, and the outdoors is a great place to do that. Exploring in the city is not very fun because everything is the same and it is also manmade. Nature holds a special place in my heart because I find it so captivating. My father also felt this way, so this is maybe why I am the same. He would take me out into the wild for days at a time and we would have to rely on our survival skills to survive. With very little access to food and water, not to mention a place to sleep, I learned very early on in life how to fend for myself. I think this is the reason why I am an independent person today. I am grateful to my father that he gave me these experiences because they have helped to contribute towards the person who I am today. I don’t know what I would have done without my father. 3. Outdoor leadership is important to me personally because the outdoors has played an important part in my life and I also like the challenges that leadership brings. This is the perfe ct subject for me because it brings my strengths and desires together. While I already know a great deal about the outdoors, I am willing to learn how to become a better leader because it will improve every aspect of my life. Taking on a leadership role can be quite challenging because it takes a lot of responsibility, but I already consider myself to be a responsible person, so I feel that my personality is well-suited towards becoming a leader of some sort. I have not yet decided upon the right profession for me, but I am definitely sure that the outdoors will be involved some how. Also, even if I am not a leader in the future, the skills that I gain in this course will help me to become a better person, both personally and professionally. 4. The earliest leadership experience that I had would have to be when I was made my class president back in my freshman year of high school. I was very inexperienced as a leader at that time, but many people in my class believed that I had the attributes to make a good leader. One thing that I enjoyed from this experience was that I was suddenly the most important person in my class. Everyone looked up to me and my social standing rose considerably. For the first time in my life, I actually enjoyed going to school because I felt like I had a purpose for being there. The one thing that I disliked about this experience was that I suddenly had a whole heap of responsibility placed upon my shoulders. Looking back now, I was probably not fully prepared for this

Saudi Arabian Press Coverage of the Events in Bahrain Essay

Saudi Arabian Press Coverage of the Events in Bahrain - Essay Example I also wish to pay my sincere regards to Dr. Chris Paterson, who opened his door and mind for me. Moreover, I gratefully acknowledge the support of Mr. Turki Abdullah Al Sideri, as he stood with me throughout the MA degree program, and very special thanks go to Al Saud University for providing me with this wonderful opportunity. I am also extremely grateful to the staff members, friends, colleagues and all others who supported, taught and helped me in the research and in learning the language, both at Sheffield University and Leeds University. A great deal of love, loyalty, and thanks go to the government of my country for providing me with this amazing opportunity to complete the MA program. Last, but certainly not least, I would like to thank my father, mother, brothers, and sisters for their overwhelming support. This research paper investigates the performance of the Saudi Arabian press during the events in Bahrain between 14 February and 16 March 2011. It analyses the content of the press in Saudi Arabia with respect to the number of stories related to the Bahrain conflict and the theme and tone of these stories. Content analysis of the two leading Saudi Arabian newspapers, Alriyadh and Alyaum, was carried out by employing a constructed week approach for the entire period of the conflict. The results of this content analysis revealed that the coverage of the events in Bahrain by the Saudi Press was, to a great extent, dependent on the Saudi Press Agency (SPA), because of the constraints imposed on the press in the Kingdom by the Saudi Arabian information policy. The news related to Bahrain mostly appeared to be positive in tone and tended to support the agenda and interests of the government of Saudi Arabia with regards the political and democratic position of Bahrain, particularly when it involved the status of the Shiahs in the country.