Company Law and the Corporate Veil

Company Law and the Corporate Veil Introduction As the day company is formed, it can be said that the company is â€Å"incorporated†. As the company uniqueness is that it provides for effective separation of resources and managements of its resources and it is further compounded on the fact that the owner of the capital can limit his or her liability to the third parties. Therefore the company is recognized as a separate entity and it is treated in its own capacity. In nowadays business companies, it can be seen that companies have both advantages and disadvantages in measuring the limited liability of the shareholders on the basis that the company is liable for its debts and obligations. Therefore, double-edged sword is created which means it has both good and bad elements. In this assignment, details about the doctrine of separate legal entity will be analyzed. Also statements of features of company as separate legal entity and circumstances the veil of incorporation will be lifted will be analyzed with reference to some cases. Doctrine of separate legal entity In company law of Malaysia, a company is treated as a separate legal entity from its members constituted in it which is its shareholders and directors. This is the doctrine of separate legal principle. The company is a different separate body from its member. Thus, the members of the company are not liable for the company debts. For instance, when a company turn into a contract, the company itself will personally liable for the contract rather than the shareholders and the directors. Therefore, a company is a corporate body. A corporation is an artificial legal person that exists independently of the individuals who at any given time are the members of the corporate body. This principle was established by the House of Lords in Salomon v Salomon Co Ltd[1]. The rule of Agency An agency is a relationship where one person consents or is deemed to have consented that the other person should act on its behalf so as to affect its relations with third parties. Features of Separate Legal Entity At the time the company is incorporated, it is a separate legal person, it brings forth some effect which can be the features of it. Under section 16(5) of the Companies Act 1965 states that, once a company had been incorporated, the company had all the ability as an incorporated company. For instances, it is means that the company can enjoys its right and function as a legal person. Company that incorporated is a legal personality that is created and recognized by the law as stated by Salleh Abbas F.J in Tan Lai v Mohamed bin Mahmud. When a company register under Companies Act, it becomes vested with corporate personality which is an independent legal person and separate from its members. For instance, the company is a legal person. In Salomon v. Salomon Co. Ltd. (1987)[2], unsecured creditors claimed that the company never had an existence of independent although it was incorporated. They claimed that it was Salomon himself trading under another name, but the House of Lords held Salomon Co. Ltd. must be regarded as an independent person from Salomon. This is because of the fact that the company was not role as an agent for the member. Thus, Salomon and the others are mere subscribers of the company although he owned all the issued shares. Hence, Salomon could enforce its rights against the company as a secured creditor. Furthermore, the company also has the ability to sue and be sued in its own name. Therefore, a company can make legal action to enforce its right. It was established in the case Foss v Harbottle[3] where action brought by the members of the company made an injury complain towards the company and it was fail. Therefore the member could not take action on behalf of the company. Besides, a company has perpetual succession which means members may join and leave, but the company will continue go on. When a company become incorporation, it will continue operate until it is dissolved according to the Companies Act 1965. Under the case of Re Noel Tedman Holdings Pty Ltd[4], the court allowed the representative personal of the deceased to appoint the directors of the company so that the directors could allow the transfer of the shares to child. This proves that although the shareholders had leave but the company is still exiting and continue go on. Other than that, a company also has ability to own property on its own name. According to section 16(5) a company has power given to own personal land and other types of property. While company is separate legal person from its member, the member has no legal right and interest with the property and it is belongs to company. In case Macaura v Northern Assurance Co. Ltd[5], Macaura owned a tree plantation which was covered by an insurance policy. Later he sold the plantation to a company which he was the only shareholder. After the sale, Macaura continued to insure the plantation in his own name. A fire broke out and the plantation was destroyed. Macaura then attempted to claim on the insurance policy but the insurance company refused to pay. The issue was whether Macaura had an insurable interest at the time of the loss. It was help that the insurance company was right in not paying. The plantation company was a legal entity in its own right, separate from its shareholders. Other than that, in a corporate body, the shareholders of the company can enjoy limited liability. While a company is a separate legal entity, the shareholders are not liable for the debts and the liability is limited by shares. Therefore, creditors have no rights to take any legal action against the shareholders. In case Ye Yut Een 1978[6], the director of the company is not liable for the company’s debt. It is the company who had not complied with the procedures related to the retrenchment benefits. Lifting The Veil of Incorporation Although the company has privilege as separate legal entity, it must not be used for any unlawful or illegal business purposes, in case a fraudulent or dishonest use is made of the legal entity, the concerned individuals will not be allowed to take the shelter of the corporate personality. The court will disregard the corporate veil to see the real persons behind it. Generally, the law will not go behind this veil of incorporation to look at the membership of the company. But the courts will ‘lift the corporate veil’ in some exceptional cases. Salomon v Salomon Co Ltd case have decided that the members of the company are not liable for any contract that contracted by the company. This will cause they may have a chance hiding behind the veil to defraud the creditors and other parties that contracted with the company. The court will pierce the corporate veil by applying the principle known as ‘piercing the corporate veil’. When there is no entity separate from members, the court will pierce the corporate veil and take action. After that the court will make the company and its members liable for any breach of contract. The veil of incorporation can be lifted in according to situation provided under statutory provision and by judicial interpretation under the common law. For instance, section 36, Companies Act 1965 states that if the number of members of a company is reduced to below two and its carries on business more than six months, the person who is a member of the company during the time that is so carries on business after those six months, and is aware of it, the person is personally liable for all the debts that the company contracted after those six month and he may be sued therefor. According to the section 304(2), Companies Act 1965, together with the section 303(3), provide that an officers who knowingly contract a debts on behalf of the company. It means borrow money and knowing that that the company is most likely unable to pay the debt is guilty of an offence and on conviction be made personally liable to pay that debt. Under section 304(1), Companies Act 1965 provides that when a company’s intention is to purposely defraud its creditors, the veil of incorporation is lifted. In the course of the winding up of a company or in any proceedings against a company it appears to the court when hearing the application of the liquidator or any creditor or contributory of the company that any business of the company has been carried on with intent to defraud creditors of the company or creditors of any other person or for any fraudulent purpose, the court may hold any persons who were knowingly parties to the fraud personally responsible for all or any of the debts or other liabilities of the company as the court directs. Under section 365(2), Companies Act 1965 provides that any payment of dividend not from profit is prohibited. Any payment made of dividends to shareholders is personally liable by the director towards the creditors of the company when there are no profits available. There are also situations where the court thinks it is appropriate and it will lift the veil of incorporation at common law. The situation whereby the veil of incorporation is lifted where the company is acting as agent or partner of the controlling or parent company. Group of the companies the problems can be complex. Subsidiary own and fund money of a business has been held to do so as agent for the holding and parent company. So, holding and parent company actually operating business. This is applied in case Smith, Stone and Knight Ltd v Birmingham Corporation (1939)[7]. Besides, the veil of incorporation will be lifted when there is a group of companies, including holding and subsidiary company, the court can lift the veil and treat a company and its subsidiary as one economic unit. In case DHN food Distributors Ltd v Tower Hamlets London Borough Concil[8], subsidiary company owns a piece of land while the DHN which is parent company operated the business on the land. The local authority purchases the said land. The DHN claimed compensation for disruption. The local authority refused to pay the compensation on the grounds that the land did not belong to DHN. The court lifted the veil of establish that DHN is connected with the subsidiary company as treated as one economic unit, they did suffer a loss as a result of acquisition from the local authority and allowed to claim the compensation. At last, lifting the corporate veil can also assist in the prevention of fraud. In case Aspatra Sdn Bhd Ors v Bumiputra Bank Malaysia Berhad (BBMB)[9], Lorrain Osman, one of the director of Aspatra Sdn Bhd, was once a director of Bumiputra Bank Malaysia Berhad, must account for the secret profit he made in breach the fiduciary duty. To avoid detection Lorrain Osman had channeled the monies which is the secret profit he make into several companies that he controlled, one is the Aspatra Sdn Bhd. BBMB feared that the money Lorrain Osman took would leave Malaysia and applied for an injunction. The veil lifted to reveal that the assets of Aspatra Sdn Bhd belong to the Lorrain Osman and the injunction was accepted. Conclusion In conclusion, it clearly stated that the doctrine of separate legal entity have created double-edged swords to the shareholders of the company. Although it brings many features to the shareholders but it also have drawback towards the company itself and creditors in some situation. Hence, there will be some defects of incorporation. However, lifting the veil of incorporation by the court will reduce the defects of incorporation. [1] SALOMON v SALOMON CO LTD [1897] A.C. 22, House of Lords [2] SALOMON v SALOMON CO LTD [1897] A.C. 22, House of Lords [3] Foss v Harbottle(1843) 67 ER 189 [4] Re Noel Tedman Holdings Pty Ltd. (1967) QdR 561 [5] Macaura v Northern Assurance Co Ltd[1925] AC 619 [6] Yee Yut Ee(978)2 MLJ 142 [7] Smith, Stone Knight Ltd v Birmingham Corp[1939] 4 All ER 116 [8] DHN Food Distributors Ltd v Tower Hamlets London Borough Council[1976] 1 WLR 852 [9] Aspatra Sdn Bhd v Bank Bumiputra Malaysia Bhd (1988) 1 MLJ 97

Wasteland by TS Eliot :: essays papers

Wasteland by T.S. Eliot The driving force of all life is procreation and re-birth. For mankind, vegetation, the animal kingdom, the survival of the species is the dominant factor and only the fittest survive. For millennia, different races have believed that the fertility of the land depended on the sexual potency of their ruler or favour of their gods. Pagan, Roman, Greek and other gods have been invented who were believed to control the fertility of the land, such as Ceres, the Roman goddess of agriculture, on which the survival of their populations has been believed to have depended. Various superstitions and religions have further developed and become significant factors in the lives of billions of the world's population. The Waste Land takes these themes and portrays a dead land that lacks the fertility and sexual potency needed to sustain and progress life. A land void of what is needed for re-birth. The 4 life-giving elements: Earth, Air, Fire, Water. Earth is sterile; Air is turned to "brown fog"; Fire burns; Water drowns. The sexual imageries are unproductive: sex is present as a lustful functional device but lacking of the necessary fertility. Superstitions are turned to by the society in search of the answer in the form of Tarot cards and religion is a constant thread as evidenced by the recurring Biblical references and themes. In The Burial of the Dead we see that he gives us an image of the Earth as sterile, instead of being the foundation of vegetation. It is only a repository for the dead. Earth is the 1st. of the 4 natural elements. These 4 opening lines echo the "April", "root", "Lilac/flower", and "rain/shower" imagery of the 4 opening lines of The General Prologue of Chaucer's Canterbury Tales. These lines are reflecting the image of life and death. Rain usually nurtures and strengthens plants and sustains them, but here we see that life even with water is slowly dying and wasting away. He later goes on to say that the trees will give no shelter and the crickets, no relief. This line comes from Ecclesiastes 12:5-7: "Also when they shall be afraid of that which is high, and fears shall be in the way, and the almond tree shall flourish, and the grasshopper shall be a burden, and desire shall fail: because man goeth to his long home, and the mourners go about the streets. Or ever the silver cord be loosed, or the golden bowl be broken, or the pitcher be broken at the fountain, or the wheel broken at the cistern.

The Angel-William Blake

I dreamt a dream! What can it mean? And that I was a maiden Queen Guarded by an Angel mild: Witless woe was inner beguiled! And I wept both night and day, And he wiped my tears away; And I wept both day and night, And hid from him my heart's delight. So he took his wings, and fled; Then the morn blushed rosy red. I dried my tears, and armed my fears With ten-thousand shields and spears. Soon my Angel came again; I was armed, he came in vain; For the time of youth was fled, And grey hairs were on my head.Analysis Personal- I believe that Blake is emphasizing that fact that when we are younger we are encouraged to dream and to have fun because of our innocence and lack of knowledge of the consequences. But as we become older we are guided into achieving certain goals because we now understand the situations that we face. I believe that Blake is saying that we should live in the present and not the future, because our innocence (our youth) can never be regained but our imagination is c ontinuous.I believe that the ‘Angel' in this poem is referring to our parent's, because wrought the good and the bad, our parent's will be there to help us. Literal- when Blake refers to the word â€Å"l†, he is referring to himself. He believed that he was the Maiden Queen. In the second stanza, the Angel offers its love to the Maiden Queen, but the Maiden Queen does not accept it. In the third stanza we read that the Queen is now willing to accept the Angel's love, by arming his self with 10,000 shields and spears. The shields represent protection from being hurt, and the spears represent inflicting damage against people who wrong him.In the fourth stanza we read the Angel had come again but came in vain. So Blake was now willing to love the Angel but as he had become old with grey hair, the Angel came in vain, this meant that the Angel could not love Blake. Time Period The Angel was written during the Romantic Era. It is a four-stanza poem written in quatrains, consi sting of 4 lines and two sets of rhyming couplets in each. Relation to the Romantic Era The Angel written by William Blake demonstrates an emphasis of emotion, lack of redeem and the recognition of personal experience.Emphasis of emotion it demonstrated when Blake writes â€Å"And I wept both night and day, And he wiped my tears away'. This indicates that the Angel has an impact on Flake's life, which had impacted him in many different ways. A lack of freedom is demonstrated when Blake writes â€Å"Soon my Angel came again† as he spent many years devoted to preparing for the Angel's return. Also when he writes â€Å"Guarded by an Angel mild†, indicating that Blake was sheltered by his Angel during his childhood.Recognition of personal experience is exemplified throughout the entire poem. Some examples are demonstrated when Blake writes â€Å"And that I was a maiden Queen, So he took his wings, and fled, Soon my Angel came again,† these statements highlight the experiences Blake had his Angel. Stylistic Devices Rhyming couplet Biblical allusion Why I chose this poem I chose this poem because I believe that Blake was one of the best poets during his time. Even though he may have been a greatest poet, this is one of the only poems that I truly enjoy.

Comparison of the Individual in Freuds Civilization and Its Discontents, Bufords Among the Thugs and Weirs The Truman Show

Comparison of the Individual in Freuds Civilization and Its Discontents, Bufords Among the Thugs and Weirs The Truman Show What is exactly is an individual? Dictionary.com defines an individual as follows:in*di*vid*u*aladj.a.Marked by or expressing individuality; distinctive or individualisticb.Special; particularc.Serving to identify or set apart (Dictionary.com)According to the dictionary, an individual is unique and therefore should be able to be set apart from others without much difficulty. The question at hand now is, does civilization remove the identifying aspects of unique individuals and mesh them into one similar entity? Throughout the literary works of Bill Buford and Sigmund Freud, as well as the film directed by Peter Weir, this question is met and answered. In Civilization and Its Discontents, Freud places particular stress on the fact that the individual cannot find pure happiness when placed in a civilization because it demands different things than that of the individual. Like Freud, director Peter Weir in his film, The Truman Show depicts Truman battling to find his own unique individu ality in a staged utopian civilization.Sigmund FreudBill Buford uses his book, Among the Thugs, to demonstrate how a civilization, which in his book is mainly symbolized by a violent mob, dissolves individual identity. His work shows how a civilization of individuals can accomplish things never thought capable of being done alone. Freud's work implies that individuality poses a conflict with civilization demands and therefore civilization should be abandoned. Along with Freud, Wier focuses on Truman's struggles between his fake life and his individual dreams. Buford, writes about his struggles and pressures to join somewhat of a civilization and focuses on demonstrating the transition of an individual into an altered and somewhat forced character demanded by a surrounding society.In Civilization and Its Discontents, Freud states his views on the broad question of man's place in the world. Freud characterizes the world as an...

Marketings Role in the Organization †Essay

Marketings Role in the Organization – Essay Free Online Research Papers Topic: If the premise is that marketing creates value, then explain marketing’s role in the organization. In the modern economic society, marketing has been very close to everyone’s life. There are also some organizations such as enterprises, schools, institutions and government which are adopting various marketing activities every day in order to create more benefits for themselves. Drucker (1974) has stated that the purpose of marketing is to make selling surplus. The aim of marketing is to fully realize and understand customers, in order to enable products or service to fit customers and sell itself. Thus, marketings role as a driver of an organizations value chain will be stressed as value chains are increasingly shaped by consumer expectations and demands. This essay will clarify how the marketing’s role in Sony to be a value creator in various ways. In order to illustrate how marketing create value to the firm, it is necessary to understand the definition of marketing. What is marketing on earth? Marketing is a managerial function and a set of courses for communicating, creating, managing customer relationships and delivering value to customers in ways that benefit the organization and its stakeholders (American Marketing Association),date?. Marketing, by means of exchanging, results in obtaining the required products and service. Exchanging, the proceeding steps of value creation, usually will benefit mutually and further the exchanging of mutual values. The essence of marketing is aimed at creating customers’ value and satisfaction. A precise definition to the studies of marketing as given by Kotler (2004) is that the profitably contented with the requirement. Moreover, marketing assigns all those activities which accelerate services or the movement of goods from the producer to the consumer. In other words, it means those activities connected with distribution, advertising, promotion, merchandising, product planning, publicity, research and development, transportation, sales and services or warehousing of goods (Indiainfoline, 2002). Sony is a company with a reputable name and a great trade of brand recognition worldwide. The company rapidly presented itself to the world as a technological inventor capable of creating many consumer-friendly first such as the Walkman, the transistor radio, and the camcorder, although it started a small Japanese telecommunications company in Tokyo. Based on Southgate (1994), a brand is not a name, graphic device or logo. It is a part of intangible values in the minds of consumers. A strong brand is therefo re alive, complex, rich and enormously powerful. However, Sony is facing profits and sales are down or are gradual down, RD and capital investment cost are arising, competitors are moving in with copycats, the struggle between VHS and Beta and the research for a smash hit product such as the Walk-in or the Trinitron. According the survey of Business Week (2005), Sony, No.28, which declines 16% in brand value in the 2005 ranking. Although the firm is pioneered the Walkman, left Apple to reform portable MP3 players, as well as digital downloading and organizing of music. Thus, the RD group becomes a key element of corporate strength, or weakness, with the company highly dependent on its ability to deliver significant new technology, when expected (Webster, 1990). Similarly, Urban and Hauser (1980) indicated that the firm need a strategy for development. It must learn and understand how consumers perceive products, what needs exist, what consumer preferences are relative to the needs, and how consumers choose among products. This essay focuses on deep product strategy as a value creator to Sony. Marketing acts a central role in translating marketing information into products and afterward positioning these products in the target market from new product development process (Song, Montoya-Weiss, Schmidt, 1997). Also, the effective development and management of products can be an important factor in determining whether a company will succeed in gaining business from the major account market (Turner, 1990). Sony implemented restructuring plan recently, pointed at putting the struggling consumer electronics giant back on its feet, but got a doubtful response when the company presents of its new Walkman type a portable music player. A news from Taipei Times (2005) described that Sonys content-to-product strategy and the new plan disappointed those looking for a more radical departure at a company that is struggling with the likes of Apple, which marries style and high-tech sophistication in its must-have iPod music player. The company’s plan lacks in details and similar to earlier plans which have not worked, Nomura Securities analyst Eiichi Katayama told. New products are a necessary response, if the firm is to retain its marketing effectiveness, to changing customer preferences and dynamic competition in the marketplace. A stagnant product line is good evidence that an industrial firm has failed to keep up with advancing technology and the state-of-the-art in its industry (Webste r, 1990). In addition, a source of new product stimulus is a customer request to produce a specific product that the customer has designed (Urban Hauser, 1980). Sony needs to approach an effective managerial strategy of new product development that is likely to achieve success, but at the same time minimize risk. According to Magrath and Higgins (1992), innovation need satisfy consumer needs. These needs may relate to new product designs with appeal, new product uses, or the innovative developing of new groups of product users. Moreover, a more sophisticated strategy to react to competition is the â€Å"second but better† strategy. The firm waits until the competitor’s product is revealed and then not only copies it, but improves on it. The objective here is to be flexible and efficient so as to produce a product that will be superior to the competition without incurring the heavy market developmental expense for the product. Another approach to development is through the notion that someone must buy a product. The marketing strategy is based on finding consumer needs and then building a product to fill them (Urban Hauser, 198 0). Similarly, a firm’s new product strategy is increasingly recognized as a critical part of the total business plan. The key product strategies are developing highly innovative products, introducing products that meet customer needs more effectively, and introducing products with unique features for customers (Cooper, 1983). Sony flaunted its PSX, the enhanced PlayStation 2 video-game machine. It also works as analog TV, a DVD recorder, music player and digital photo album. The design of a single machine that has a little bit of everything seems logical and attractive to customers. Some analysts argue that audiovisual equipment and the game machine dont necessarily go together since the life cycles of AV machinery are much shorter, requiring constant upgrades. Moreover, the product doesn’t match the market, Kazumasa Kubota says, analyst with Okasan Securities Co. in Tokyo. The PSX may sell in amounts when it first goes on sale, but it will be hard to keep the sales going (Kageyama, 2003). Many as 90% of new products may fail in the market because many companies are scrambling to develop innovative high technology products. Then a definite need for the product exists in the market which must be determined. In addition, competitive products must be analyzed to assess by the market and segmented to i dentify target markets that will obtain greatest profits from the product and offer competitive advantages (Lucas Bush, 1984). Sony made itself into poor positioning and misunderstands of consumer needs. Urban and Hauser (1980) stated that positioning is the identification of a set of psychological need attributes and the description of the level of each attribute for a new product. The companies should pay much attention to the positioning issue as their discuss new product design. One of the major efforts in successful new product design is to define a good psychological positioning and a set of physical features to back it up. In order to avoid products failure, Moon (2005) analyzed companies can change customers mentally classify their products by positioning these products in unexpected ways. The firms through reverse, breakaway and stealth positioning are to shift consumers’ thinking in order to create a profitable place to ply their merchandises. In addition, different customers are likely to have different needs requiring some adjustment of the product. This means that the selection of custome rs, market segmentation strategy, is the key, long-term strategic choice for the industrial firm (Webster, 1990). Indeed, product position is strategically important because it can take years to create, it is difficult to change, and it affects business success and competitive strategy. A product or service position involves the set of associations with the product. It is created over time, often from a large assortment of sources such as the product design, the advertising, the store in which it is bought, and who uses it (Aaker, 1988). A product does not have novelty to benefit from original new positioning, nor does it have to be past its prime. The old rule of the product life cycle is by simply challenging consumers notions. Thus, from time to time, it makes sense for a company to review its product portfolio. Such a review can usefully be conducted once or twice per year. Grouping products according to approximate stage in the product life cycle may be a useful first step: new products; growth products; mature products; and declining products. Effective marketing may be successful in retarding the inevitable progress of the product life cycle and may bring the market back to an earlier stage, such as moving from maturity back to growth (Webster, 1990). Because of global competition and rapid technological advances, high technology products such as digital cameras and notebook computers have short life cycles. The company may upgrade its characteristics over time for renewing the competitiveness of a product. Wh ile products contain a set of features with some alternatives for each, design involves complex decisions: which features to upgrade, when to upgrade, and what alternatives should be chosen. The decisions will help managers in deciding the content and timing of promotions to maximize life cycle profit. And it merges traditionally made by various operations in the enterprise (product design, process design engineering, marketing, production planning and supply chain management) (Damodaran Wilhelm, 2005). Today, marketing’s role in the organization has become more and more important. Proper market strategy, intelligent product definition and execution of without mistakes will separate winners from losers in a market economy with very little opportunities for error. Sony is trying to pursue innovation by diversifying its core technologies. But the firm neglects a customer-need orientation as an organizing principle for new product development. For example, the new portable walkman is not satisfying consumer demands. Understanding the needs of the customer is an axiom found in all product development literature. As the result, companies should evaluate and refine to produce a product with consumer psychological attributes which indicate a high probability of success in the market. In addition, the new product marketing program requires careful definition of market segments. Positioning is a central strategic issue in the marketing of new products, although positioning is often th ought to apply only in a consumer market context. Sony’s product positioning such as PlayStation 2 doesn’t match the markets. In order to avoid new products failure, the firms can change consumer’s thinking through reverse, breakaway and stealth positioning. Without developing and marketing new products, a firm must struggle to keep profitable growth. Also, a strategic view of the product portfolio can help to stimulate the development of new products. Research Papers on Marketing's Role in the Organization - EssayMarketing of Lifeboy Soap A Unilever ProductDefinition of Export QuotasThe Project Managment Office SystemResearch Process Part OneHip-Hop is ArtAnalysis of Ebay Expanding into AsiaInfluences of Socio-Economic Status of Married MalesIncorporating Risk and Uncertainty Factor in CapitalBionic Assembly System: A New Concept of SelfRelationship between Media Coverage and Social and

Olympia, ancient game effect art and religion and vice versa Research Paper

Olympia, ancient game effect art and religion and vice versa - Research Paper Example These religious rituals ultimately transformed into Olympic Games1. Nothing exactly can be said about the occurrence of the first Olympic Games. However, it is believed that Olympic Games were held first time in 776 B.C. To some extent, Olympic Games helped to change the war-like situation among the city states into a temporary peace as Sparta, the most aggressive city state, used to lull sending its warriors into battle until the games are over. This tradition was followed by other city states in true letter and spirit. Surprisingly, women had been forbidden to take part in the games. Death penalty was awarded to them even if they watched these games. However, in 396 B.C., a woman from Rhodes broke this tradition by watching Olympic Games. According to narrated story, his husband died before the event and hence she prepared her son for the boxing competition. She watched the game of her son in disguised as man but caught after jubilant shouts. Her death penalty was pardoned as a special case. Milo of Croton was considered as the greatest athlete of ancient games. He won the wrestling crown six times in 500 B.C. It is narrated that he was so powerful that he used to carry a full grown bull on his shoulders. Artists from all over the Greek used to witness the event. The famous Greek poet, Pindar wrote many odes narrating the capabilities and potential of the winners of the game. The buildings which were constructed in Olympia portrayed the rich heritage of Greek architecture2. There was a strong relationship among Olympic Games, religion and art in ancient times as well as in modern day of the games. The charter of modern Olympic Games coined a term ‘Olympism’ that it defines as â€Å"a philosophy of life, exalting and combining in a balanced whole the qualities of body, will and mind†. Thus, the term ‘Olympism’ describe a religion without divinity3. The Olympic Games in Greek were being played with

Examine the role of social media in customer relationship management Essay

Examine the role of social media in customer relationship management 02221 - Essay Example Twitter, Facebook, etc (Holzner, 2008). The complete interactions that take place through the social channels provides various information to small companies, which can be utilized to enhance their services, products, as well as overall approach towards their business (Evans, 2012). Companies are required to value social media as well as realise that it is a two-way or joint process. If they choose to utilize social media like the customer centric stage, they can’t avoid complaints or the negative comments. In reality, one in three Twitter and Facebook user consider that companies should reply to the social grievances within two hours. People have some hopes, and companies should meet those hopes or expectations. Social media is considered as the newest channel by which companies can interact with the target customers (Sponder, 2012). Customer relationship administration/management is referred to the tactics, practices, and technologies, which organizations or firms use to record, manage, and assess customer interactions or communications to drive the growth of sales by enriching and deepening relationships with their entire customer base. The systems of customer relationship management are designed in order to collect customers’ information across various channels such as company’s website, live chat, marketing materials, telephone, social media, and live chat (Boulding et al, 2005). The systems of CRM can also provide customer-facing employee detailed data, buying preferences, and purchase history. Companies need to make sure that the analysis and storage of their customer facts and data must encompass a highest degree of security against identity theft, cyber criminals as well as other violations of securities (Chen and Popovich, 2003). From the company’s viewpoint, the whole relationship includes the direct communication aspect, for example service and sales related processes, and