Kodak Essay Example for Free

Kodak Essay The purpose of this report is to perform an extensive analysis of the Eastman Kodak digital photography brand, and ultimately, to provide a sound marketing strategy to their board based on our findings. We do so by examining both a macro view of the digital camera industry as well as analyzing the brand’s history, positioning, success factors, and current challenges. We discovered that Eastman Kodak, while once the unquestionable leader in the film industry, failed to adapt to changing technological market trends and was left behind the digital revolution. Kodak’s unsuccessful response to a major technological discontinuity has resulted in a profound loss of market share and profitability. We have developed a market plan for the dire state Kodak currently finds itself in, one that will attempt to reinvigorate Kodak’s brand as a premium name in digital photography by returning to its traditional values and competencies. While the company currently operates through three distinct segments: Digital Film Imaging, Health Group, and Graphic Communications, we have narrowed our scope to focus primarily on the digital film segment as we felt that this area has the most potential for improvement in the near future. The Digital Film Industry Origins of the Market The evolution of the digital camera market mirrors the evolution of the technology and innovations surrounding photography itself. Throughout the nineteenth century the motivations behind innovations and discoveries in photography surrounded the speed and affordability of creating an exposure. Some of the earliest photographs took up to eight hours of exposure to complete, and were often contained on flimsy and expensive materials, that did not lend themselves to being easily shared. It is evident that the desire to quickly create and share still images existed more than a century before modern digital cameras were ever created. Early attempts at digitizing images for storage remained largely in the video imaging segment, and very little focus was put on the technology for still images. The progress that was made was characterized by poor picture quality and very difficult storage procedures. As a result, professional photographers and hobbyists clung to the old processes of developing film well into the 1990’s. In reality it was the increasingly competitive nature of the news media, particularly in the newspaper industry that led to some of the more workable innovations in digital still imaging technology. It was seen as a competitive advantage for a media outlet to take, store, and send images through digital transmission, rather than wait for a slow development process before a picture could even be viewed. It is no coincidence that the first commercially available digital cameras were incredibly expensive and used almost exclusively by photo journalists. As was the case with the market, for still cameras relying on 35mm film for picture development, it was technological breakthroughs that spurred the growth of the digital camera market. With the development of JPEG file formats in the late 1980’s digital images could be taken and stored on the same device using battery power. Although there are many competitive claims as to who entered the market first, Kodak was arguably the first entrant in 1991 with the DCS-100. The Growth of Digital Photography The transformation from conventional to digital photography was a total shift of technology that not only completely changed the way companies of this industry operate, but also the products and services they offered. Advancement in the information and communication technologies also significantly contributed in shaping digital photography, as well as the digital camera itself. Computers were being used to store and edit photographs, while internet offered an easy way to share and distribute multiple copies of the image to different people at the same time. Furthermore, the concept of a photograph being original was eliminated as duplicate, unidentifiable copies of the image were possible. The key growth stages of the digital photography can be summarized as follows. Steven Sasson (of Kodak) invented the digital camera in 1985 in Kodak research laboratories. The low operating cost, easy storage and distribution were the major attractive features of this new product. Instead of using film like traditional analog cameras they were able to store the image on internal storage or on rewritable memory cards. In 1986, many electronic cameras were released by different manufacturers, e.g., Canon released first still video electronic camera, Kodak: 1.4 million pixel CCD, Nikon: SVC, electronic camera with a 2/3-inch CCD of 300 000 pixels, Sony: Mavica A7AF still video camera, (CCD) of 380,000 pixels which records images onto a 2-inch floppy disks. The world’s first fully digital consumer digital camera was released by Fuji, with the feature that images could be digitally recorded on a removable memory cards. Since then the improvement in camera manufacturing has continued over the years, as new players joined the race with the discovery of new dimensions of digital technology and its applications, and the need for new accessories. Hewlett-Pakard’s ink jet printers became consumer items. Sanyo, Samsung, Olympus also released new digital cameras, and Toshiba manufactured memory cards. Joint Photographic Experts Group (JPEG) created compression file format to easily transfer digital image electronically. The products were further improved with the better understanding of digital technology as continued research and costs were considerably reduced in 1998, leading to exponential rise in sales of digital cameras over the next years. (See Exhibit 1 to see how digital camera sales have skyrocketed since the turn of the century). New professions emerged covering various available features of the digital cameras, and cameras were developed for the specific segments and niches, such as amateur photography, advertizing photography, editorial photography, documentary photography and scientific photography. Digital photography is still far from maturity, as products are continuously introduced or improved though constant innovation. The need to develop specifications (sizes, dimensional tolerance for imaging media, and formats for all major users) and written standards for digital imaging are realized, developed by American National Standards Institute and International Standards Organization. Ultimately, the arrival of digital photography, combined with the ever-improving capabilities of computers to store and display photographs, and the Internet to share them helped revolutionize the major customer processes associated with photography. Photographs could now be taken by consumers at virtually no cost, who could then choose to save or delete their photos with the push of a button, and decide to print them on a PC printer or via email. It is clear then that the industry is almost completely driven by both social and technological change. Competitors Overall, the digital film industry is a highly competitive one. An analysis of the forces that determine the long-run profit attractiveness of this particular segment would reveal that the industry has: high threat of segment rivalry (existence of several large competing companies); high threat of new entrants (abundance of digital photography technology on mobile devices); extremely high threat of substitute devices (countless ways to put an image into digital format); high threat of buyer power (low differentiation level of most digital cameras); and finally, high threat of supplier power (cost of switching suppliers for a large digital camera company would be astronomical). Kodak manufactures and distributes a large number of different products, primarily focused around photography. The sale of each line of products comes with its own competitors. However, for the purposes of this report, the focus of the competitor analysis will be on cameras, both digital and non digital varieties. The camera industry had worldwide sales of $35.5 billion in 2010. Given the large value of this industry, it is important to know what share of the market Kodak’s competitors’ control. A look at the market for digital SLR cameras, disposable cameras and film follows. The world market for digital SLR cameras is dominated by Canon and Nikon, who held world market shares of 37% and 33% respectively in 2010. The remaining 30% market share is held primarily by Sony and Olympus/Panasonic. Sony sold 12% of the world’s digital SLR cameras in 2010, and Olympus/Panasonic had 11% of the market in that same period. Kodak was only one of the several competitors who comprise the remaining 7% of worldwide digital SLR camera sales. Low cost digital SLR cameras have come on to the market and are competing in the same space as digital compact cameras. A look at Kodak’s website showed only one brand of digital SLR camera is being offered by Kodak. Since Kodak is primarily competing in the digital camera space through compact cameras, the shift in digital SLR cameras to a lower price point does not bode well for Kodak since it increases competition. Disposable camera sales in 2009 were comprised primarily of cameras under the Kodak and Fuji brands. Kodak enjoyed a 52.9% market share in this period, while Fuji held 18.1% of the world market. The majority of the remaining 29% of the worldwide market of disposable cameras came from private label brands, who sold 28.4% of disposable cameras worldwide. Disposable cameras like any other cameras come in two varieties, analogue and digital. The market for analogue cameras has been decreasing over the years. For instance, the sales of analogue cameras decreased from US$1,335.5 million in the United States in 2004 to only US$9.5 million in 2009. This is a decrease in sales of over 99% in only 6 years. Although Kodak has kept a leading position in the analogue market, the dissolution of the market for analogue cameras limits the value of Kodak’s leading position in this segment. Kodak has also kept a leading position in the sale of camera film. However, this market segment has seen a similar fall in sales as the decrease in the disposable camera market. In this segment, Fuji is once again Kodak’s largest competitor. Kodak’s tagline â€Å"Kodak Moments† helps it maintain its leadership position in film, but the sharp decline in the sale of film and a strong competitor in Fuji once again limits the value of this leading position. The market for cameras has seen a rise in the competitiveness of one particular alternative product that may limit the growth potential of the camera industry in the future. Mobile phones with cameras built in now form the main substitute to cameras. Since these devices have many features such as video, audio, and internet browsing, and are relatively inexpensive, they represent a real threat to the camera industry. 80% of the world demand for the imaging devices and optical modules that comprise the cameras in mo bile phones is handled by Panasonic, Sony, Sharp and Konica Minolta. Kodak does not compete in this market. Other substitutes that Kodak will need to compete with are counterfeit items. Not only are these items likely to be sold at lower prices, they are also generally inferior in quality and could harm the brand of the companies whose products are being counterfeit. From this analysis of the current competitive landscape, we can see that Kodak’s most important competitors in digital cameras are Canon, Nikon, Sony, Panasonic and Fuji. (See Exhibit 2 for a look at Kodak compared to its traditional competitor, Fuji). Customers The digital film industry targets a large number of consumers spanning different segments and demographics. The following will illustrate who these main consumers are and which kinds of individuals digital photography appeals to. Segments Digital photography is targeted to two major segments; professional and non-professional consumers. As expected, the needs of these two target segments are quite different, and organizations in the digital camera industry market their product to appeal to these distinct expectations and needs. Digital camera companies, therefore, market their product to these diverse groups and consequently identify further submarkets and niche markets. Demographics In the world of photography demographic segmentation plays very vital role in marketing the product. In this method of segmentation, demographics is important because customers’ wants, desires, preferences, and usages are strongly associated with demographic variables. Interest in photography generally starts at early age, usually early teenagers. Consumers are not especially conscious about the brand but want to fulfill their purpose. However, this is the phase where a perception of the brand starts taking position in the minds and get stronger and stronger with the time. After this phase consumers of age 20 to 50 are divided into different groups. Some people adopt photography as profession, some use it for their extensive tourism habits, and finally some take it as fun and leisure activity and some use it as their need. This use depends on their nature, living style and job requirement. Professionals, who adopt photography as occupation or as their hobby, are always more conscious about the quality and success results. They don’t want to see that there is no photo in their camera after any event coverage or after returning from an adventure. They need more reliable equipment with guarantee of better results because this is their earning source. If someone is pursuing photography just for fun and don’t have passions for the hobby then they will typically not pay as close attention to the bells and whistles of the product. In terms of gender, photography appeals to both men and women alike. Marketing does not generally target men or women, although recent manufacturing of point and shoot cameras includes the product in a variety of colours for the consumer to choose from. Lastly, demographics in the digital film industry relies on the consumer’s income. The major manufacturers of digital cameras have realized this, and typically offer product ranging from budget quality, to expensive professional equipment. Psychographics Psychology is also a strong variable to understand consumers. People are different based on their personality traits, psychology, life style and values. Psychographic profile could be completely different within same demographic group of consumers. For example, two individuals of same age group have same range of income like photography as a fun but they have different psychology. One is more caring about quality with regard to details captured in the pictures and the other more focus on the originality of the colours of the pictures. For this reason, camera manufacturers have produced cameras with a plethora of adjustable features, which can be modified to suit the user’s preferences. Important Trends The broad industry of photo imaging and cameras has gone through some profound changes over the past several decades. As expected, technological advancements over the past century are the prime drivers of the various trends this industry has witnessed. Perhaps the greatest transformation this industry has seen has been the relatively recent rise of the digital camera phenomenon. Although the prototype for the digital film industry began with the development of Sony’s analog-type â€Å"Mavica† electronic camera, this product did not gain immediate acceptance in the marketplace due to its high price and the lack of suitable peripherals (i.e personal computers). The larger trend towards digital cameras then was truly popularized in the late 1990s and early 2000s with digital â€Å"point and shoot† cameras, of which Kodak participated in at a much later stage than its competitors. With the release of these user friendly devices, digital camera sales increased by 75% per year by 1997 where film cameras increased by 3%. At first, the absence of an LCD screen for formatting, shooting, and reviewing purposes proved to be a hindrance to the popularization of digital cameras. Once the LCD screen was introduced, the trend was ignited. Photos could now be viewed immediately, and kept or discarded as the consumer desired. Today, most major camera manufacturers have made the exodus from film to digital. Canon as well as Nikon surprised the world when they agreed to stop production of most film cameras, setting another trend that has continued to this day. Another major shift in the world of digital photography was the gradual emergence of cameras on mobile phones. As technology improved, so did the quality of cameras included with virtually every mobile device. As expected, this had an impact on the sale of cheap digital cameras, as the phenomenon was now available to anyone who had a mobile device. This trend continues to this day, with both iphones and Blackberries including high quality cameras with their mobile devices. Currently, there has been a revival of DSLR cameras, with Canon and Nikon holding the majority of market share. Although it is difficult to predict future trends in the camera industry, many market researchers, trend watchers, and technology prognosticators agree that digital is here to stay. Easy access to necessary peripherals such as personal computers and even printers has garnered quick acceptance of the digital camera by consumers. The move to digital will remain; however, the relative maturation of the Japanese, North American and European digital camera markets may result in repeat buyers, as well as marketing cameras to for late adopters. This could all culminate in lower profit margins for some of the worlds leading camera manufacturers.

Dorothy Richardson Essay -- Biography Biographies Essays

Though acknowledged by literary circles as the first writer to use the stream-of-consciousness technique in her writing, Dorothy Richardson is not as widely recognized as the founder of this style. Her mannerisms and thought processes were affected for the rest of her life by her upbringing in a poverty-stricken family. Brought into the world in 1873, Richardson was destined for stereotypical feminine occupations: a tutor-governess in Hanover and London, a secretary, and an assistant. Her mother’s suicide in 1895 completely broke up the family, only adding to the need for Richardson to find a means of supporting herself. Fortunately, Richardson became involved with the socialists in the area, as well with the people living in Bloomsbury, and soon after she abandoned her secretarial work. She became involved in translations and freelance journalism as an introduction to the bohemian lifestyle; from there she met and married Alan Odel, a much younger man who was somewhat of a cult figure in bohemia at the time, with his waist length hair he wore wrapped around his head. Throughout her lifetime, Richardson published a large number of essays, short stories, poems, as well as sketches. Most famous is her Pilgrimage series, a thirteen novel project that was the first in literature to employ what Richardson preferred to call â€Å"interior monologues.† Pointed Roofs was the first novel in the series and consequentially, the first to introduce such a style of writing. She presented the story with a sense of immediacy, rather than from a retrospective view. Instead of telling narratives in the sense that the realists did, Richardson let the current moment monopolize the literature so that the present could prevail over the past. It... ... Hanscombe, Gillian E. The Art of Life: Dorothy Richardson and the Development of Feminist Consciousness. Athens: Ohio Universty P, 1983. Staley, Thomas F. Dorothy Richardson. Boston: Twayne, 1976. Winning, Joanne. The Pilgrimage of Dorothy Richardson . Wisconsin Press. 21 Mar. 2004 . Related Links: Women of the Left Bank http://home.sprynet.com/~ditallop/homepage.htm Modernism: American Salons http://www.cwru.edu/artsci/engl/VSALM/mod/ International Review of Modernism http://www.modernism.wsu.edu/ Eisenstein, Joyce, and the Gender Politics of English Literary Modernism http://www.arts.uwaterloo.ca/FINE/juhde/tiess931.htm â€Å"The Part Played by Women:† The Gender of Modernism at the Armory Show http://xroads.virginia.edu/~MUSEUM/Armory/gender.html

Microfinance in India

India has always been a very agrarian focused culture, with approximately 450 million people are currently in need of funds. Micromanage encompasses many different types of services such as credit, savings, Insurance, remittance and pensions. Micromanage Initiatives primarily focus on microcircuit services because rural towns are heavily reliant on credit for a wide range of needs for example engage In economic activity, consumption needs, mitigate Income shocks, Increase savings and improve self-empowerment. In many micromanage areas, women comprise most of the groups because they are seen as more reliable with funds.Indian's micromanage evolution can be broken down into 4 distinct phases. Indian's micromanage movement started in 1903 through its credit cooperative movement. Before this movement, the poor often relied on the village's money lender whenever they needed access to cash. Money lenders were notorious for high interest rates; they would charge approximately 3%-8% per mont h on loans. Although money lenders would prey on farmer, they had no other choice to use them because they could not get access to banks. Farmers' earnings were directly related to how well their crops fared.High Interest rates coupled with possible years of famine made repayment Impossible caused agrarians to riot. In 1904, the Co-operative Society Act extended credit to Indian villages under government sponsorship as an alternative to traditional money lenders. Cooperatives were the only option to most rural areas because of its spatial spread and penetration in remote areas. During this phase commercial banks did not venture into rural areas because they were in the private sector and had no incentive to extend their outreach to rural areas. However they became unreliable because of NAP inefficiencies and they lacked revisionism's.Credit cooperatives had trouble distributing funds due to frozen assets from overdue repayments. Therefore rural areas stopped using credit cooperative s and opted for high interest money lenders. The next phase of Indian's micromanage evolution was the Nationalization of Social Banking. In 1969, former Prime Minister Nadir Ghanaian nationalized 14 major sector banks In part of her political policy to eradicate poverty. After the nationalization of banks, regional rural banks (Orbs) were created in order to strengthen the rural banking structure and reach more people.These banks offered a hybrid service of the previous cooperative banks with a more localized approach. Approximately a decade after, the government sponsored the Integrated Rural Development Program (ARID) to deliver RSI. 15000 to the poor. Indian's Integrated Rural Development Program (ARID) is a great example of inefficient subsidized credit. This program was set up in order to address the need to allocate funds according to social targets, meaning that 30% of the fund was allocated to socially excluded groups (defined using the caste system) and 30% towards women.Be tween 1979 and 1989, there was a huge period f ARID growth due to a huge subsidy budget of $6 billion. But despite the huge fund, the scheme did not generate a good Institutional performance. ARID repayment rates fell below and only of borrowers took out a second loan after the first loan was repaid; which is particularly troubling given it is perceived that repeating rate fell to Just 31%, and therefore the ARID failed its key purpose: being a reliable and meaningful lender to the poor.According to the Rural Finance Program at the Ohio State University, the main mistake government-led development banks (such as he ARID) made, was to view offering credit as the same as offering seeds. Ohio argues that credit should be thought of as a fungible tool of financial intermediation, and as not as a specific input into a production process. They claimed that credit could not Just be directed towards any particular section of society; and when this was linked with cheap credit policies, this caused havoc in rural financial markets.This outcome was due to the inadequate accounting of incentive effects and politics associated with subsidies. It is argued that subsidizing banks created inefficient monopolies and removed market tests. Some have even gone on to say that the households involved would have been better off without the subsidies. Firstly subsidized banks pushed out the informal money lenders, a source of credit the poor heavily rely on. Secondly, the use of subsidized credit means that the interest rate, a rationing mechanism, is driven down below market rates, breaking down the rationing mechanism.This meant that credit was no longer allocated to the most productive projects, and was often distributed on the basis of political and social desires. Thirdly, with subsidized lending, bankers incentives to collect savings posits were almost eradicated due to the constant flow of capital from the government, so poor households were left with unattractive and ineffic ient ways to save. During this phase, a trade union of self-employed women workers in Gujarat established a Self-Employed Women's Association (SEWS) bank in 1974.Approximately 4000 members contributed RSI. 10 to register as a co-operative bank to provide banking services to poor women. This successful bank was one of the first initiatives to introduce micromanage. The third phase of Indian's micromanage evolution is the introduction of SSH bank engage program and the growth of MONGO- Miff. The National Bank for Agricultural and Rural Banking (ONBOARD) was established in 1982 to focus primarily on agricultural and rural development. In 1992, ONBOARD pioneered the first self help group.These informal groups of women promote savings among members and used these resources for meeting their credit needs. A breakdown of this model is that in every meeting, the members would put aside a certain amount for deposit. These deposits are then recorded and through accumulation they become a way for members to lend to each other. Although the interest rates in this model are higher than what banks offer, the SSH groups reap the benefits because the repayment goes directly into the group's savings. This means that the group's loaning capabilities increases the more its members regularly save.In this model, there is no formal banking institution that provides loans. The primary goal of this model is for all members to begin their own saving initiatives. Later this model evolved to become part of Self Help Group Bank Linkage program (Kbps); after analyzing a SSH for 6 to 8 months, banks would pair up with groups to extend the credit of the group. After another period of 6 to 8 months, banks would offer a larger credit line; the maximum a group could borrow was four times their current savings account. Currently Kbps account for 58% of current loans outstanding.Micromanage Institutions (Miff), Non These type of institutions are similar to Bangladesh Grahame Model. In 1976 Unhan dsomely created the Grahame Bank Model as a project to assist poor families by offering credit. Grahame means Mileage† in Bengali. This type of banking was used to show that the poor people of Bangladesh are indeed bankable and able to pay back loans without promising collateral. The model success is based on the fact that there is no need for collateral however through group peer pressure, 96% of all loans are repaid.By offering lower interest rates than the Government of Bangladesh and weekly repayment schedules, the Grahame model has been very successful. This model has been very successful in Bangladesh and has become a formal banking structure in 1983. India modified this banking structure and Joint Liability Groups Loss) became the dominant model used in Micromanage institutions (Miff). This model is similar to Bangladesh Grahame Model but it introduces an important concept, Joint liability. In this model, there is usually 4 to 10 members who are self selected.Due to sel f selection, most of Joint liability groups are homogeneous groups. Whenever the group decides to take out a loan, all members must sign a Joint liability contract; this ensures that if one member fails to repay the loans, the other members are liable for it. This type of collateral is called social collateral because members often use peer pressure to make sure that all members repay their loans. This type of group is intended to Just be credit groups and regular savings by embers are not required. The group only exists because individual members are legally bound to one another.Miff prefer this model to provide credit to tenant farmers because the groups are easy to make and there are less restrictions regarding the utilization of the loan. During this phase, Miff experienced a boom because Nags coupled themselves with Miff to attract commercial investment. Indian's current phase of micromanage encompasses the centralization of micromanage. Throughout its history, micromanage has gone through an intense transformation to provide microcircuit for a wide range of services. Currently India uses a hybrid of the above models in its Miff.However Miff are being criticized for its high interest rates. Many borrowers only apply for loans between 5000-20000 rupees; the small value incurs high fixed costs for Miff. To avoid losing money, Miff often charge higher interest rates. Four key reasons why Miff charge high rates include: the cost of funds, Miff operating expenses, loan losses, and profits needed to expand their capital base and fund expected future growth. The costs that are associated with microcosms are the cost of the money to loan, cost of loan defaults ND transaction and operating costs.However it is important to note that there is approximately 450 million people untouched by any micromanage services. These people are often referred to as â€Å"unbreakable† because they rely on family members or moneylenders for financial services. During 2005-201 0, India experienced a boom in micromanage with state, Andorra Pradesh, leading the reform. However it was soon realized that Miff were using unethical practices to collect payments from borrowers. These practices escalated to cause many borrowers to commit suicide, little of borrowing and accept high interest rates to avoid Miff.The state government of Andorra Pradesh responded by enacting the Andorra Pradesh Micromanage Institutions (regulation of money lending) Act in 2010. The act made it they didn't have to pay back the loans and the government would protect them. This led the repayment rate to plummet from 99% to a mere 10%. The act was trying to protect the borrower and punish Miff for charging exorbitant interest rates and causing over borrowing. Critics of the act state that She were also part of the crisis ND that they were not negatively affected by the act as Miff were.They state that government backed She were also part of over borrowing and the act limits Miff business and successfully reduces competition between both micromanage institutions. The act negatively affected Miff profitability, loan recovery and their overall operations. The result of the crisis left many Miff at negative worth, this in return limits their accessibility to garner fresh funds and their overall ability to reach the rural poor. According to the norms, banks are not allowed to lend to banks that have negative worth.The crisis left micromanage companies like SHARE Microfilm, Ashman Microfilm, Spandex Sporty Financial, Trident Microfilm, and Future Financial Services unable to disburse fresh loans to clients. Banks also lost trust in Miff and there has been a serious liquidity crunch. Increased costs of borrowing coupled with the inability to access new funds further strained the profitability of Miff. Len conclusion, the enactment of the Andorra Pradesh Act stifled the access of basic financial services to the poorest of India citizens. The current goal for Indian's micro manage sector is poverty alleviation through uncial inclusion and inclusive growth.The 2010 Andorra Pradesh Crisis highlighted a few issues of Indian's micromanage sector. The crisis was due to high interest rates and multiple memberships and borrowing. Other issues include inadequate outreach and coverage, lack of regulation, limited product innovation, rising Naps and recovery issues, ratings of Miff and data availability. Proposed Micromanage Bill of 2012 After the 2010 Andorra Pradesh Crisis, the government was very worried over the state of Miff and proposed a bill to the development and regulation of Miff.The bill allows the central government to be the sole regulator and supervisor of Miff by creating the Micro Finance Development Council to oversee the development of Miff. Specifically the bill wants all Miff that are Non Banking Financial Companies (NBS) to be regulated by RIB while Miff that aren't companies would be regulated by the respective state governments because th ey will be able to take a more localized approach and be better equipped to serve them. The bill would also require Miff to provide an annual balance sheet, profit and loss account for audit to RIB at the end of ACH fiscal year.RIB would also have the authority to set the maximum annual interest charged and maximum limit on the margins Miff are allowed to make. RIB becoming the prime regulator for Miff increases uniformity and stability. However critics of the bill rather have a whole entire new body to regulate the micromanage sector such as Micromanage Regulatory and Development Authority. Key issues that still need to addressed: relating to margin, interest rate cap, allowing collection of thrift by Miff, enabling Miff to render other services than credit like pensions, insurance, etc. Ceiling limit on credit, and regulation. Critics don't want a cap on interest rates or margins because they believe that it negatively affects the entire private micromanage sector. Specifically pr ice controls only benefits a few while The bill lacks specific provisions, which would provide and facilitate financial inclusion at an affordable cost to poor and weaker sections. The bill doesn't address what led to the AP Crisis: multiple credit lending, over-indebtedness, multiple memberships and coercive measures adopted by Miff.

English Teaching (Textbook Evaluation) Essay

â€Å"A conversation Book one: English in Everyday’s Life† is a revised third edition book that provides a wide variety of vocabulary and student-centered learning activities for teachers to apply when teaching students. To begin with, the book advocates for teachers to use a communicative teaching approach method when teaching students. In addition, it inspires and recommends students to actively engage in the use of proper language in classrooms which eventually enhances their learning skills.   This book also advocates for students to use English when communicating and conversing with one another which actually heightens their fluency in English. In regard to this, the students acquire good communication skills and techniques that are essential in expressing their thoughts and feelings especially outside classrooms. As a matter of fact, the book provides students with good listening and communication skills which in time are applicable in critical thinking and evaluation. Furthermore, the book emphasizes more on conversation and communication rather than grammatical accuracy. Therefore, the grammar rules are learned inductively throughout each lesson in the book.   This book is also designed for the beginners and low intermediate student although I believe it is also appropriate for both the young and aged learners. I recommend for a more detailed approach in case the book is to be used for young learners because it really emphasizes on the language conversational skills needed in everyday’s life. Additionally, I perceive this book as not actually being essential to those students lacking a basic familiarity with the English alphabet and also those who do not have prior experiences using the language skills of listening and speaking in their native languages. I would not recommend this book to be used by first language learners since it makes an assumption that all learners have general experiences in everyday’s activities. Teachers can use this book either sequentially from the beginning to the end or in a random order which is actually provided in the teacher’s guide. The teacher’s guide is a very easy to follow procedure which contains warm-up activities for each lesson with preceding steps on suggestions about the contents in the book.   In addition, the objectives are clearly stated for each lesson with a wide variety of extended activities for each lesson while there is also a section that gives an overview of all the activities and the objectives of each lesson. On the contrary, there are no supplementary materials included within this textbook. The student’s guide contains guidelines on the first page of every unit which actually facilitate learning and comprehension of the unit. In addition, this small section in each unit actually guides students in understanding, developing, and broadening their learning skills. There are also sections for: Vocabulary; grammar and conversation; individual or partner and group activities, and sections for cross-cultural exchanges which in reality allow the class to discuss their cultural differences.   The student’s guidebook also encourages students to discuss and talk about their opinions regarding their cultures. This eventually helps them in clarifying any confusion they might encounter about cultures while learning English as language. There are also sections of discussion in the book which allow students to review and answer questions on already discussed topics. In these sections, teachers are allowed to ask questions which students are eligible to answer while in c lass. Finally, the individual, partner and group activities provide students with lots of opportunities in language. These activities actually involve: Assigning of specific roles when playing; total physical response (TPR); vocabulary memory games; journal writing assignments; and activities that involve story-telling, survey, problem solving and discussions. In regard to these, students will acquire numerous opportunities of thinking, discussing and sharing answers while using this textbook which eventually helps them interact well with one another hence making the learning process more meaningful. The vocabulary section in each unit provides students with new vocabularies. These equip students with adequate language words which help them develop sufficient confidence and familiarity with the language. Additionally, the presentation of vocabulary in appropriate levels enables students to understand the text and be able to comprehend the new vocabulary which actually is not repeated in subsequent lessons; this reinforces their meaning and use through the textbook. The book also contains: Pictures which clarify vocabulary; interactive and task based activities for students to apply the new learned vocabulary and instructions for students to read before working on the exercises at the end of each unit. In conclusion, I would like to say that â€Å"practice makes perfect†. Therefore, students should communicate regularly in English or any other language for them to learn and perfect on that language. I would also recommend teachers to provide supplementary materials to students since none are provided in this book. These include: Homework and class assignments; drills, listening and speaking quizzes, and tests. The teacher should also incorporate more audio-visual materials and provide additional materials and exercises to reinforce grammar points in the textbook and review vocabulary words.   Generally, I believe that this textbook is appropriate to be used in ESL/EFL classes since it coincides with the goals of the course and also appropriate for the students in low beginner class.