Analysis on Mulan and the Twilight Saga

Women are to be beautiful, curvy, delicate, poised, graceful, refined, thin, curvy, quiet, demure and polite. Men are portrayed as the leaders of society, whereas women are only there to give birth to children. Manual is graceful, calm, and unique she is also beautiful and cur,y, Just like society wants. But that is where it stops. Unlike society wishes, she is not quiet, demure, or delicate. Instead she is intelligent, strong, and independent and is not afraid to be what she wants to be.And therefore, when the mime came when she did not want her father to lose his life in battle, she goes against society's standards when it comes to women on the battlefield and disguises herself as a man to be able to Join the army. She proves that she is Just as capable as a man by Joining the army and doing the same things the men do at training camp, If not more. But by the end of the movie, she saves the country. Feminists hope that people's outlook on female roles and equality will change for t he better, and In some ways the hope lies with the media.Books, movies, poems, songs, TV shows and any there types of influences on the public are their hope In delivering their message. Manual is an animated movie that many kids watch and enjoy from a young age. At a young age they start to develop opinions about everything they Interact with. Therefore, developing a movie like Manual will Influence the children to treat females as equals. The treatment of females will be Improved through the next generation. This will help the feminists with their cause.Twilight Throughout the story, Bella Swan does not have trouble coming to a decision as all ere decisions are based on the fact If a decision will bring her closer to Edward or help him. Her choices are not based on her benefits or what will help her, which portrays the sexist outlook of women – weak, obedient, and not equal – which has been shown throughout history. In New Moon, when Edward leaves Bella, she does eve rything In her power to be able to see Edward, from rolling a motorcycle recklessly to Jumping Off cliff Into stormy waves.This also shows that women are nothing without men, which Is not what the fervently movement wants. Yes the love they had for each other and the devotion that was expressed In the novel was well-played, but the weakness of the female lead does not push society to accept woman as equals economically, politically, or socially. This book does not promote female equality but Instead female Inequality. Furthermore, Bella relies on Edward for her to live and on Jacob In New Moon. Analysis on Manual and the Twilight Saga Through a Feminist Point of View By Chocolate's beautiful and curvy, Just like society wants.But that is where it stops. Unlike society y Joining the army and doing the same things the men do at training camp, if not people's outlook on female roles and equality will change for the better, and in some other types of influences on the public are their h ope in delivering their message. Young age they start to develop opinions about everything they interact with. Therefore, developing a movie like Manual will influence the children to treat females as equals. The treatment of females will be improved through the next generation.Throughout the story, Bella Swan does not have trouble coming to a decision as all ere decisions are based on the fact if a decision will bring her closer to Edward or everything in her power to be able to see Edward, from riding a motorcycle recklessly to Jumping off a cliff into stormy waves. This also shows that women are nothing without men, which is not what the feminist movement wants. Yes the love they had for each other and the devotion that was expressed in the novel was well-played, but instead female inequality. Furthermore, Bella relies on Edward for her to live and on Jacob in New Moon.

Stefan’s Diaries: Bloodlust Chapter 8~9

Chapter 8 October 4, 1864 As a human, I'd thought it was my mother's death that had shaped the men Damon and I would become. I'd called myself a half-orphan in the initial days after she died, locking myself away in my room, feeling as though my life had ended at the young age of ten. Father believed grieving was weak and unmanly, so Damon had been the one to comfort me. He'd go riding with me, let me join the older boys in their games, and beat up the Giffin brothers when they made fun of me for crying about Mother during a baseball game. Damon had always been the strong one, my protector. But I was wrong. It is my own death that has shaped me. Now the tables have turned. I am the strong one, and I have been trying to be Damon's protector. But while I have always been grateful to Damon, he despises me and blames me for what he has become. I had forced him to feed from Alice, a bartender at the local tavern, which had completed his transformation. But does that make me a villain? I think not, especially as the act had saved his life. Finally, I see Damon the way Father had seen him: too imperious, too willful, too quick to make up his mind, and too slow to change it. And as I had also realized earlier this evening as I stood just outside the dim glare of the gas lamp, the body of the dead nurse at my feet: I am alone. A full orphan. Just as Katherine had presented herself when she came to Mystic Falls and stayed in our guesthouse. So that's how vampires do it, then. They exploit vulnerability, get humans to trust them, and then, when all the emotions are firmly in place, they attack. So that is what I will do. I know not how or who my next victim will be, but I know, more than ever, that the only person I can look out for and protect is myself. Damon is on his own, and so am I. I heard Damon steal through the city, moving at vampire speed down the streets and alleys. At one point, he paused, whispering Katherines name over and over again, like a mantra or a prayer. Then, nothing Was he dead? Had he drowned himself? Or was he simply too far away for me to hear him? Either way, the result was the same. I was alone–Id lost my only connection to the man Id once been: Stefan Salvatore, the dutiful son, the lover of poetry, the man who stood up for what was right. I wondered if that meant that Stefan Salvatore, with no one to remember him, was really, truly dead, leaving me to be anyone. I could move to a different city every year, see the whole world. I could assume as many identities as Id like. I could be a Union soldier. I could be an Italian businessman. I could even be Damon. The sun plunged past the horizon like a cannonball falling to earth, dipping the city into darkness. I turned from one gaslit street to the next, the soles of my boots rasping over the gravelly cobblestones. A loose newspaper blew toward me. I stomped on the broadsheet, examining an etched photo of a girl with long, dark hair and pale eyes. She looked vaguely familiar. I wondered if she was a relative of one of the Mystic Falls girls. Or perhaps a nameless cousin whod attended barbecues at Veritas. But then I saw the headline:BRUTAL MURDER ABOARD THE ATLANTIC EXPRESS. Lavinia. Of course. Id already forgotten her. I reached down and crumpled the paper, hurling it as far as I could into the Mississippi. The surface of the water was muddy and turbulent, dappled with moonlight. I couldnt see my reflection–couldnt see anything but an abyss of blackness as deep and dark as my new future. Could I go for eternity, feeding, killing, forgetting, then repeating the cycle? Yes. Every instinct and impulse I had screamedyes. The triumph of closing in on my prey, touching my canines to the paper-thin skin that covered their necks, hearing their hearts slow to a dull thud and feeling a body go limp in my arms. Hunting and feeding made me feel alive, whole; they gave me a purpose in the world. It was, after all, the natural order of things. Animals killed weaker animals. Humans killed animals. I killed humans. Every species had their foe. I shuddered to think what monster was powerful enough to hunt me. The salty breeze wafting from the water was laced with the odor of unwashed bodies and rotting food–a far cry from the aroma across town, where scents of floral perfume and talcum powder hung heavy in the air of the wide streets. Here shadows hugged every corner, whispers rose and fell with the flowing of the river, and drunken hiccups pierced the air. It was dark, here. Dangerous. I quite liked it. I turned a corner, following my nose like a bloodhound on the trail of a doe. I flexed my arms, ready for a hunt–a gin-soaked drunk, a soldier, a lady out after dark. The victim didnt matter. I turned again, and the iron-scent of blood came closer. The smell was sweet and smoky. I focused on it, on the anticipation of sinking my fangs into a neck, of wondering whose blood Id be drinking, whose life Id be stealing. I continued to walk, picking up my pace as I traced the scent to an anonymous back street lined with an apothecary, a general store, and a tailor. The street was a replica of our own Main Street back in Mystic Falls. But while wed only had one, New Orleans must have had dozens, if not hundreds, of these corridors of commerce. The rusty smell of iron was stronger now. I followed twists and turns, my hunger building, burning, searing my very skin until finally, finally I came to a squat, peach-colored building. But when I saw the painted sign above the door, I stopped short. Sausages in their casings hung in the buildings grimy window; slabs of cured meat dangled from the ceiling like a grotesque childs mobile; carved ribs were nestled in ice beneath a counter, and in the far back, whole carcasses were strung up, draining blood into large vats. This was a butcher shop? I sighed in frustration but my hunger forced me to push the door open anyway. The iron chain snapped easily, as if it were no sturdier than thread. Once inside, I gazed at the bloodied carcasses, momentarily mesmerized by the blood falling into the vats, one drip at a time. Over the sound of the raining blood, I heard the slightestping, no louder than the twitch of a mouses whiskers. Then came the light shuffle of toes passing over concrete. I reared back, my eyes darting from corner to corner. Mice scuttled beneath the floorboards, and someones watch ticked in the building next door. All else was quiet. But the air around me suddenly felt thicker, and the ceiling lower somehow, and I became acutely aware that there was no back exit in this room of death. â€Å"Who goes there?† I called into the darkness, whirling around, my fangs bared. And then came movement. Fangs, eyes, the thud of footsteps closed in around me from all corners. A low, guttural growl echoed off the bloodstained walls of the shop, and I realized with a sickening jolt that I was surrounded by vampires who looked all too ready to pounce. Chapter 9 I crouched low, my fangs elongated. The heady scent of blood permeated every corner of the room, making my head spin. It was impossible to know where to attack first. The vampires growled again, and I emitted a low snarl in response. The circle closed in tighter around me. There were three of them, and I was caught, like a fish in a net, a deer surrounded by wolves. â€Å"What do you think youre doing?† one of the vampires asked. He looked to be in his mid-twenties and had a scar that ran the length of his face, from his left eye to the corner of his lip. â€Å"Im one of you,† I said, standing at my full height, fangs on display. â€Å"Oh, hes one of us!† an older vampire said in a sing-songy voice. He wore glasses and a tweed vest over a white-collared shirt. But for the fangs and red-rimmed eyes, he could have been an accountant or a friend of my fathers. I kept my face impassive. â€Å"I have no ill business with you, brothers.† â€Å"We are not your brothers,† said another with tawny hair. He looked not a day over fifteen. His face was smooth, but his green eyes were hard. The older one stepped forward, poking his bony finger against my chest as if it were a wooden stake. â€Å"So, brother, nice evening to dine or die. What do you think?† The young vampire kneeled next to me, gazing into my eyes. â€Å"Looks like hell do both tonight. Lucky boy,† he said, ruffling my hair. I tried to kick him, but my foot simply flopped harmlessly against air. â€Å"No, no, no.† While the scarred vampire watched wordlessly, the boy grabbed my arms and wrenched them so sharply and abruptly behind my back that I gasped. â€Å"Dont be disrespectful. Were your elders. And youve already done quite enough disrespecting already, if Miss Mollys house is any indication.† He drawled her name as if he were a benign, genteel Southern gentleman. Only the steel grip on my limbs betrayed that he wasnt anything of the sort. â€Å"I didnt do anything,† I said, kicking again. If I were to die, then Id die in a fight. â€Å"Are you sure?† he asked, looking down at me in disgust. I attempted to twist away, but still I couldnt budge. The elder vampire chuckled. â€Å"Cant control his urges. Impulsive, this one. Lets give him a taste of his own medicine.† With a flourish, he released me from his grasp, pushing me forward with strength Id never before felt. I hit the plaster wall with a crash and fell on my shoulder, my head cracking against the wooden floorboards. I cowered beneath my attackers, the realization sinking in that if I were to survive this encounter, it would not be by might. â€Å"I didnt mean to do anything. Im sorry,† I said, my voice breaking on the word. â€Å"Do you mean it?† the young vampire asked, a glint in his eye. The sound of wood breaking assaulted my ears. I flinched. Would one vampire stake another? This was not a question I wanted answered the hard way. â€Å"Yes. Yes! I didnt mean to come in here. I didnt know anyone was here. I only just arrived in New Orleans,† I said, scrambling for an excuse. â€Å"Silence!† he commanded, advancing toward me, a jagged piece of wood in his hand. I pressed my spine into the damaged wall. So this is how it would end. With me dying on a makeshift stake, killed by my own kind. Two hands crushed my arms, while another two pinned my ankles together so forcefully that it felt as though I were stuck under boulders. I closed my eyes. An image of Father lying prone on his study floor swam to the forefront of my mind, and I shook my head in agony, remembering his sweating, terrified face. Of course, Id been trying to save him, but he hadnt known that. If he was watching, as an angel or a demon or a mere specter condemned to haunt the world, hed be thrilled to see this scene unfold. I squeezed my eyes tighter, trying to evoke some other memory to the fore of my mind, one that would take me to another place, another time. But all I could think of were my victims, of the moment when my fangs sliced into their skin, their plaintive wails descending into silence, the blood dripping down my fangs and onto my chin. Soon, all the blood Id taken would be released, seeping out of my own body and back into the Earth, as I was left to die, for real this time, forever, on this wooden floor. â€Å"Enough!† A female voice sliced through the montage in my mind. Immediately, the vampires let go of my hands and feet. My eyes sprang open, and I saw a woman gliding through a narrow wooden door in the back. Her long blond hair descended in a single plait down her back, and she wore mens black pants and suspenders. She was tall, though slight as a child, and all the other vampires shrank away from her in fear. â€Å"You,† she said, kneeling next to me. â€Å"Who are you?† Her amber eyes gazed into mine. They were clear and curious, but there was something about them–the darkness of the pupils, perhaps–that seemed ancient and knowing, which stood in sharp contrast to her rosy-cheeked, unlined face. â€Å"Stefan Salvatore,† I answered her. â€Å"Stefan Salvatore,† she repeated in a perfect Italian accent. Although teasing, her voice didnt seem unkind. She ran a finger gently along my jaw, then placed her palm against my chest and she pressed me against the wall, hard. The suddenness of the movement stunned me, but as I sat, pinned and helpless, she brought her other wrist to her mouth, using her fang to puncture the vein. She dragged her wrist along her teeth, creating a small stream of blood. â€Å"Drink,† she commanded, bringing her wrist to my lips. I did as I was told, managing to get a few drops of the liquid down my throat before she yanked her hand away. â€Å"Thats enough. That should fix your wounds at any rate.† â€Å"He and his brother have been wreaking havoc all over town,† the large vampire said, his makeshift stake pointed at me like a rifle. â€Å"Just me,† I said quickly. â€Å"My brother had no part in it.† Damon would never survive the wrath of these demons. Not in his weakened state. The blond vampire wrinkled her nose as she leaned even closer toward me. â€Å"Youre what, a week old?† she asked, leaning back on her heels. â€Å"Almost two weeks,† I said defiantly, lifting my chin. She nodded, a hint of a smile on her lips, and stood, surveying the shop. The plaster wall was partially caved in, and blood smeared the floor and speckled the walls, as though a child had stood in the center of the room and twirled around with a wet paintbrush. She tsked, and the three male vampires simultaneously took a step back. I shivered. â€Å"Percy, come here, and bring that knife,† she said. With a sigh, the youngest vampire produced a long carving knife from behind his back. â€Å"He wasnt following the rules,† he said petulantly, reminding me of the Giffin boys back home. They were both bullies, always ready to kick a kid in the schoolyard and then turn around and tell a teacher they had nothing to do with it. She took the knife and stared at it, running the pad of her index finger over the gleaming blade. Then she held it back out to Percy. He hesitated a moment, but finally stepped forward to take it. Just then the girls canines elongated and her eyes flushed bloodred. With a growl, she stabbed Percy right in the chest. He fell to his knees, doubled over in silent agony. â€Å"You hunt this vampire for making a scene in town,† she seethed, stabbing the knife in farther, â€Å"and yet you attempt to destroy him in this public space, in this shop? Youre just as foolish as he is.† The young vampire staggered to his feet. Blood streamed down the front of his shirt, as though hed spilled coffee on himself. He grimaced as he pulled the knife out with a sucking sound. â€Å"Im sorry,† he gasped. â€Å"Thank you.† The woman held her wrist toward Percys mouth. Despite her youthful look and apparently violent temper, she also had a mothering quality that the other vampires seemed to accept, as if her stabbings were as normal to them as a light swat would be to a high-spirited child. She turned toward me. â€Å"Im sorry for your troubles, Stefan. Now, can I help you be on your way?† she asked. I looked around wildly. Id thought no further ahead than escaping this room. â€Å"I â€Å" â€Å". . . dont have anywhere to go,† she said with a sigh, finishing my thought. She glanced toward the other vampires, who were now huddled in the corner of the room, heads bent in conversation. â€Å"Ill just be going,† I said, struggling to my feet. My leg was fine, but my arms shook, and my breath came erratically. With local vampires watching my every move, where would I go? How would I feed? â€Å"Nonsense, youre coming with us,† she said, turning on her heel and walking out the door. She pointed to the young vampire and the one who wore glasses. â€Å"Percy and Hugo, stay and clean this place up.† I had to practically run to keep up with her and the tall, scarred vampire whod watched my torture. â€Å"Youll need someone to show you around,† she explained, pausing only slightly. â€Å"This is Buxton,† she said, grabbing the elbow of the vampire with the long scar. We walked down street after street until we neared a church with a tall spire. â€Å"Were here,† she said, turning sharply to enter a wrought-iron gate. Her boots echoed against a slate path that led to the rear of a house. She opened the door, and a musty scent greeted me. Buxton immediately walked through the parlor and up a set of stairs, leaving me and the young female vampire alone in the darkness. â€Å"Welcome home,† she said, spreading her hands wide. â€Å"There are plenty of spare rooms upstairs. Find one that suits you.† â€Å"Thank you.† As my eyes adjusted to the darkness, I took in my surroundings. Black velvet curtains fastened with golden rope blocked every window. Dust motes floated in the air, and gilt-framed paintings covered the walls. The furniture was threadbare, and I could just make out two sweeping staircases with what looked like oriental runners and, in the next room, a piano. Though at one point this must have been a grand house, now the soiled walls were cracked and peeling, and cobwebs draped over the gold-and-crystal chandelier above us. â€Å"Always enter through the back. Never draw back the curtains. Dont ever bring anyone here. Do you understand, Stefan?† She looked at me pointedly. â€Å"Yes,† I said, running a finger along the marble fireplace, cutting a path in the inch-thick dust. â€Å"Then I think you will like it here,† she said. I turned to face her, nodding in agreement. My panic had subsided, and my arms no longer trembled. â€Å"Im Lexi,† she said, holding out her hand, allowing me to raise it to my lips and kiss it. â€Å"I have a feeling that you and I will be friends for a long time.†

The critical analysis of the biopic film -'The Last Emperor' and it's Essay

The critical analysis of the biopic film -'The Last Emperor' and it's underlying feature - Essay Example As such, rather than detailing a point by point plot summary or analyzing different motifs of film-making, the analysis will instead seek to grapple with the issue of major underlying themes that is presented throughout this biopic film. Accordingly, the focus of the essay will be concentric on the film itself; using the three distinct segments of the film to highlight the underlying sense of an end of an era that is represented within the life experience of the main character; Puyi. Likewise, it is the hope of this student that the following discussion will not only be beneficial towards assisting the reader in understanding the film to a better and more complete degree, it is the further hope of this student that the forthcoming analysis will help to reveal core trends and key understandings concerning the interpretation of modern Chinese/Asian history within the era in question. Within the first segment of the film, an imprisoned Puyi experiences a series of flashbacks that depict a much different time than the one he currently finds himself in. Within these flashbacks, the viewer is taken back to a much simpler period of Chinese history; one in which the order of royal succession provided a baseline of expectation and legitimacy that helped to define all of the Chinese Empire (Geier, 1993). As such, Puyi experiences these flashbacks as he considers a very uncertain fate at the hands of a cold and calculatedly divergent regime; at least as compared to that which is represented within the warm and contended feelings that are represented within the flashbacks. Within these flashbacks, a unique trend is represented; one in which the life of royalty in all of its splendor is represented alongside the realization that the remainder of China at the time depicted was much harsher and worse than can even be imagined. Whereas many film makers would have

Hate crimes Research Paper Example | Topics and Well Written Essays - 1000 words

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Description of a place - Essay Example It looked like a rat’s nest. The tub was full of mud. For a house that had to be sold on the market, this house needed some major rehabbing—and it was not going to be an easy job. Description #2 The old Victorian house had character oozing from every inch of its walls. Walking through the front door, one could plainly see that this house was fit for kings. Elegant paintings hung on the walls. The gilded edges of the paintings shone like pure gold. Apart from some minor issues in the kitchen and the bathroom, the wine-colored velveteen armchair in the living room and ornamental Turkish area rugs provided an inviting scenario in front of the fireplace. A pair of pink satin slippers awaited someone’s return at the base of the armchair. On the mantle, a large collection of porcelain Lladro figurines graced the entire room in various poses. No wonder this house was being put on the market for $500K. BIBLIOGRAPHY Palika, Liz, and Sheri Wachtstetter. Puppy Love. US: Joh n Wiley & Sons, 2009.

The Future of The United Nations Essay Example | Topics and Well Written Essays - 500 words

The Future of The United Nations - Essay Example The primary responsibility for a state is to provide protection to people within the state itself" (International Commission On Intervention And State Sovereignty 2001). Sovereignty is more then just an emblem or measure of international relations between countries. The UN does not remove sovereignty of member countries, however it takes steps to make sure the overall the UN member countries stay sovereign. It does that by assisting countries whenever an event comes up which somehow or the other effects their sovereignty (International Commission On Intervention And State Sovereignty 2001). Just to quote a recent example, Iraq and Afghanistan were proving a threat to the international community at large. Media reports claimed that the two countries possessed weapons of mass destruction and their rulers were tyrants, wanting to cause harm to their country men by taking innocent lives. The UN taking notice of the security concern, deployed its peave making force in these two countries with the aim to protect its member state from being affected anyhow by these "weapons of mass destruction" (Thakur 2001). Another very important question after the September 2011 terrorist attacks has been how should the United Nation handle "intervention calls" for human protection purposes. Interventing on humanitarian grounds has always been a very controversial topic. The Rwanda incident of 1994 is often remembered as a landmark event where UN intervention could have prevented mass genocide, but the failure of international will to intervene lead to one of the greatest human catastrophes ever. The demand for interventions has been raised by many states however the UN has not been able to service all these demands. Reasons have been various by the former UN secretary general once put it down really well in words. He said â€Å"If humanitarian intervention is, indeed, an unacceptable assault of sovereignty, how should we respond to Rwanda, to a Srebrenica – to gross and

The Iroquoian Wife Essay Example for Free

The Iroquoian Wife Essay Before the arrival of Europeans in the American continent, the natives had a culture that was alien to European arriving in the continent. â€Å"Native-American family life was both different from and transformed by contact with European culture. British observers (mostly male) regarded gender roles and marital customs among the Indians as an abdication of mens authority† [Redefining Family, 2007]. Over the years, suppression of the tribes, intermarriages, forcing European values on the Native Americans changed their culture. The role of women in Native society changed because of European subjugation and influences [Boyd, 1996]. The Iroquoian people native to Canada had a matrilineal system of tribe. In this system, the lineage of the family is traced to mother and not to father as in other societies. The ancient Iroquoian society could not be described as matriarchal as male members led the tribe but the women were considered guardian of the society [Aboriginal Women, 2007]. They selected the leaders (sachems) and ensured that sachems used their authority according to the tribal customs. Iroquoian women determined the norms of the society and ensured that the men followed the spiritual and social customs. As a wife, Iroquoian wife played a much more important role than the man. She did all the housework, produced food, looked after the children, made clothes and had an active role in social areas traditionally reserved for man in European society. She participated in ceremonies, gambled and took part in tribes’ professional activities [Aboriginal Women, 2007]. The European masters of the land soon dismantled this powerful role of Iroquoian wife in the tribal culture as they refused to recognized matrilineal system. Children of an Iroquoian woman marrying a white man were considered that of the man. Women under the new rules were judged as subservient to man and his property and over the years their role changed to one inferior to man [Aboriginal Women, 2007]. This shows the impact of outside influences on the changing role of women in the society and as a wife in a family.

DNA Tranlession Polymerase in Prokaryotic Cells

DNA Tranlession Polymerase in Prokaryotic Cells DNA Tranlession Polymerase in prokaryotic cells: History, structures and function Soheil Malekpour DNA is one of the most important part of the cell that gives cell integrity and character. This part of the cell can be exposed to different kinds of damages that may put the cells integrity in jeopardy. The only part of the cell that has this ability to be repaired is DNA. Basically repairing should be done due to a reasonable reason. Repairing the other macromolecules are not profitable. For example, if a defective protein forms, the protein can be simply be replaced by another one. But defects in DNA can cause problem in the whole cell organisms and the character of cell [1]. Usually the whole repairing process is happening fast, although there are defects that persist against this process. The repairing process is done by special polymerases and the whole process of DNA repair is called translesion DNA synthesis (TLS) [2]. DNA can be damaged due to different reasons, such as base modification, elimination or addition of nucleotides, crosslinking of DNA strands and breakage of phosphodiester backbone [1]. These reasons can be due to some environmental conditions such as radiation or insertion of certain chemicals in to the body or due to malfunction of polymerases and enzymes in cellular process, such as putting wrong nucleotide in the DNA strand chain [1]. Up to now, it is known that there are three translesion DNA polymerases (TLS polymerases) in E. coli and about fifteen polymerases in eukaryotes that can run this process [2]. History For the first time it was in the early 1940s, that it was found agents causing mutational changes such as ionizing and radiation of UV, interact with cells and can damage their genome [3]. Also it was found that these cells can survive and recover from theses damages [4] and the term DNA repair was found. DNA repair is a biochemical term that defines biological processes during which alterations in the chemistry of DNA (DNA damage) are removed and the integrity of the genome is restored [3]. The first DNA repair mechanism to be discovered was enzymatic photo reactivation (EPR) [3]. This process is referred to the elimination of cyclobutane pyrimidine, which are generated by UV radiation and can block both DNA replication and transcription, from the genome [4]. This reaction can be catalyzed by photoreactivating enzyme in a reaction that needs a visible range light. The second mechanism found was excision repair [3]. This mechanism is referred to DNA damages cut out from genome that leaves some gaps in DNA duplex. These gaps are repaired by a non-semiconservative mode of DNA synthesis called repair synthesis [5]. By the end of the 1970s, it was known that cells are using various mechanisms for DNA repair process that focus around two basic principles: the excision of base damage or its direct reversal such as EPR [3]. In the mid1970s Miroslav Radman proposed a new hypothesis called SOS hypothesis [5, 6]. TheSOS hypothesis proposes an overall response to DNA damage in which thecell cycleis stopped andDNA repairis induced. Genetics experiments demonstrated that main players involved in damage-induced mutagenesis are lexA, recA along with umuD and umuC [2]. LexA cleavage from recA* and also umuD cleavage that form umuD use the same mechanism and is an absolute requirement for SOS mutagenesis. For showing that, E. coli because of its simple structure was used as a model for translesion DNA synthesis and mutagenesis. Later Harrison Echols proposed another model and suggested that in order to help the replication process against the lesions it is possible to reduce the fidelity of proteins so when DNA replication process is stopped at a location of unrepaired DNA damage, certain SOS-regulated genes can encode proteins that interact with the hindered replication process in a manner that reduces their fidelity [3]. In the late 1980s and early 1990s, it was demonstrated that Echols genes are in fact specialized low-fidelity DNA polymerases that enhance low-fidelity replication across the lesion, the so-called translesion DNA synthesis (TLS) [3]. Their highly reduced fidelity allows the replicative bypass of sites of DNA damage, but with a high chance of combining incorrect nucleotides [5]. Early TLS models and PolV Bridges and Woodgate were the first ones who defined the function of Umu proteins during UV-induced TLS in 1985 [7]. According to them, TLS happened in two steps. In the first step Pol III add a nucleotide opposite the first (3†²) T of a T-T cytidine diphosphate diacylgelycerol (CPD). Bounding a RecA protein to the template proximal to the lesion is a requirement for this step. In the second step, Pol III interacts with UmuDC proteins to incorporate another nucleotide at the second (5†²) T of the cytidine diphosphate diacylgelycerol (CPD). At least one of these two steps are non-WC, causing a mutation targeted at the site of the CPD [2]. Figure 1 shows the process schematically. Another model was proposed by Echols and Goodman in 1990 [3]. In this model they proposed that when Pol III encounters a template lesion, its holoenzymes (Pol III core, beta sliding clamp, gamma-clamp-loading complex) are completely blocked. This process follows by the assembly of a damage localized nucleoprotein complex involving RecA, UmuC, UmuD†², SSB, and Pol III holoenzyme, a mutasome, to copy past a template lesion [2]. The fact that RecA* simplifies the cleavage of UmuD to UmuD was used in this model [8]. Later, it was demonstrated that it was actually a dimeric UmuD2 that is cleaved to UmuD2 and that next interacts with UmuC to form a stable complex of UmuD2C [9]. This complex was named as Pol V in 1999 by Tang et al. [10]. It can be said that genome replication done on undamaged DNA by Pol III is rapid and error-free [11], the TLS process carried out by mutasome is slow and error-prone [2]. A key feature of the mutasome model is the assembly of RecA* on ssDNA proximal to the lesion (Fig. 1). When a replication fork encounters a lesion, an uncoupling of leading-and lagging-strand synthesis may ensue. Then, one of the TLS Pols can replace Pol III on the ÃŽ ²- clamp and copy the damaged DNA [2]. For both leading and lagging strands it be easily seen that RecA* can be assembled on the form of template strand, proximal to lesion. If the lesion occurred in the leading strand, RecA filaments can be formed on a region of ssDNA that is created by DNA unwinding by DnaB helicase downstream from the lesion but if lesions exist in lagging strand ssDNA is present as a result of Okazaki fragment synthesis [2]. Schlacher and Goodman [12] showed RecA* act in trans form on a non-template ssDNA strand and this transactivation of PolV by RecA* to perform TLS happens in-vitro. And this lead to the PolV mutasome model of TLS (Fig. 1). Jiang et al. [13] demonstrated this new PolV form as PolV Mut = UmuD2C-RecA-ATP. PolV Mut has this ability to copy both damaged and undamaged DNA (e.g. performs TLS) when RecA* is not present [2]. So, the straight role of RecA* in SOS-mediated TLS is to transfer a RecA molecule from the 3†²-filament tip with a molecule of ATP to convert into Pol V Mut, that can cross a different number of DNA lesions on its own. (Fig. 1) [2, 14]. PolV Mut can have two conformations. One is activated form that can copy DNA, the other one is deactivated form that is unable to copy the DNA. The activation of PolV Mut is depended on the location of RecA-ATP bond to the polymerase subunits UmuD2 and UmuC [13]. By representing the RecA* again, the deactivated form of PolV Mut can be activated. In this case, the old RecA-ATP is substituted by a new RecA-ATP from the 3-filament tip [13]. This type of switching on and off is unique to this kind of polymerase and has not been seen in other types of polymerases. This method can be useful specially preventing the undamaged DNA to go under mutation in E.Coli, and give the cell this power to activate Pol V Mut whenever replication fork have stuck at DNA template damage site [2]. PolII and PolIV in E.Coli TLS PolII discovered in 1970[15]. At first, it was thought that mutation is non-informative in PolII [16]. Pol II has an activity isolated from UV-irradiated cells that has this ability to replicate past abasic template lesions [2, 17]. This polymerase has some responses to UV radiation and this activity derives from that [2]. By purification it was proved that the induced lesion-copying protein was Pol II [17]. In 1980, Kenyon and Walker [18] discovered a DNA damage-inducible gene called dinA that can encode PolII. Also, one of the features of PolII is bypassing N2-deoxyguanosine-acetyl aminofluorene (AAF) adducts, this behavior can be error-free and produces 2-frame shift mutations [19]. AAF adducts are of family of aromatic amides that induce frame shift mutations within GpC sequences, such as the NarI sequences [19]. These adducts are able to increase the GC dinucleotide loss in NarI sequence (CGCGCC) by 107 times when they are bound to the G in middle of sequence [20]. PolII and Pol V can complement each other, but it does not mean that their activities are functionally unneeded [21]. As Pham et al. [21] mentioned PolV job is to copy UV-damaged DNA in an error-prone manner in TLS. But Pol II is able to copy chromosomal DNA in an error-free replication process. Kenyon and walker also introduced another gene called dinB gene that can be induced by cellular SOS response to DNA damage [18]. For many years, the function of this gene was unknown. After some year Ohmori et al. [22] found other gene, dinP gene, in the same section that dinB gene was found and Wagner et al. showed that they are able to encode Y-family DNA PolIV [23]. This kind of polymerases like other polymerases used in TLS are not crucial for life. Their role is to bypass certain N2-dG adducts (such as N2-furfuryl-dG) in an error-free manner [2]. Kumari et al. demonstrated they can copy past N2-N2-guanine interstrand cross-links in a high fidelity manner [24]. Regulation of TLS polymerases Different polymerases have this ability to traverse an extensive range of DNA lesions but this ability may cause in reducing the fidelity during replicating the undamaged DNA. Usually cells have several mechanisms to check and control the TLS polymerases because except PolII, all of them has this potential to delete errors made when duplicating an undamaged DNA [2]. Usually no regulation is needed for PolII. Because it has high fidelity derived by high intrinsic 3-5 exonucleolytic proofreading. On the other hand, the Y-family polymerases such as PolIV and PolV are exo-nuclease deficient and needed to be controlled [2]. PolV activity can be regulated by many proteins and many ways. First as said before the UmuD should be activated by UmuD. All UmuD, UmuC and UmuD proteins are all exposed to degradation by Lon and ClpXP protease. RecA* that forms PolV Mut can interact with UmuD2C complexes and active them. The PolV Mut itself activity can be enhanced by binding to the ÃŽ ²-clamp [2]. As Wagner et al. showed the PolIV activity can be stimulated by protein interaction with RecA, UmuD and ÃŽ ²-clamp [25]. Although the main mechanisms of DNA repair by various polymerases are known now, more studies can be conducted on E.Coli cells to find more details about the regulation and side reactions happening in this process. E.Coli cells as simple cells are an appropriate model to analyze these functions. Jarosz et al. proposed well questions about the future studies on Y-family DNA polymerases [26]: (1)How do Y-family polymerases gain access to an appropriate primer terminus and how is their action coordinated with that of replicative polymerases? (2)How do protein–protein interactions regulate the activity of Y-family polymerases? (3)Are there families of cognate lesions for each different Y-family polymerase? (4) Can mutations introduced by Y-family polymerases be corrected by exonucleolytic proofreading in trans? Different polymerases act in different paces after the damaged. For example PolII is induced immediately after DNA damage but PolV is induced about 50 min after the damage [21]. An area of interest could be study on how they can be regulated to be induced in shorter time. References Horton, R. H., Moran, L. A., Perry, M. D., Rawn, D. J. and Scrimgeour, G. K. (2006)Principles of biochemistry. 4th edn. United States: Pearson Education (US). Goodman, M. F. and Woodgate, R. (2013) ‘Translesion DNA Polymerases’,Cold Spring Harbor Perspectives in Biology, 5(10). doi: 10.1101/cshperspect.a010363. Friedberg, E. C. (2008) ‘A brief history of the DNA repair field’,Cell Research, 18(1), pp. 3–7. doi: 10.1038/cr.2007.113. Hollaender, A. and Duggar, B. M. (1938) ‘The effects of sublethal doses of monochromatic ultraviolet radiation on the growth properties of bacteria’,Journal of Bacteriology, 36(1): 17-37. Friedberg EC, Walker GC, Siede W, Wood RD, Schultz RA, Ellenberger T. DNA Repair and Mutagenesis. Washington DC, ASM Press, 2005 Friedberg EC. Correcting the Blueprint of Life. An Historical Accounting of the Discovery DNA Repairing Mechanisms. Cold Spring Harbor, NY: Cold Spring Harbor Laboratory Press, 1997. Ruiz-Rubio, M., Woodgate, R., Bridges, B. A., Herrera, G. and Blanco, M. (1986) ‘New Role for Photoreversible Pyrimidine Dimers in Induction of Prototrophic Mutations in Excision-Deficient Escherichia coli by UV Light’,Journal of Bacteriology, 166(3): 1141-1143. Burckhardt, S. E., Woodgate, R., Scheuermann, R. H. and Echols, H. (1988) ‘UmuD mutagenesis protein of Escherichia coli: overproduction, purification, and cleavage by RecA.’,Proceedings of the National Academy of Sciences, 85(6), pp. 1811–1815. doi: 10.1073/pnas.85.6.1811. Woodgate, R., Rajagopalan, M., Lu, C. and Echols, H. (1989) ‘UmuC mutagenesis protein of Escherichia coli: purification and interaction with UmuD and UmuD’,Proceedings of the National Academy of Sciences, 86(19), pp. 7301–7305. doi: 10.1073/pnas.86.19.7301. Tang M, Shen X, Frank EG, O’Donnell M, Woodgate R, Goodman MF. UmuD2†²C is an error-prone DNA polymerase, Escherichia coli, DNA pol V. Proc Natl Acad Sci. 1999; 96:8919–8924. Johnson A, O’Donnell M. Cellular DNA replicases: Components and dynamics at the replication fork. Annu Rev Biochem. 2005; 74:283–315 Schlacher K, Goodman MF. Lessons from 50 years of SOS DNA-damage-induced mutagenesis. Nat Rev Mol Cell Biol. 2007; 8:587–594 Jiang Q, Karata K, Woodgate R, Cox MM, Goodman MF. The active form of DNA polymerase V is UmuD2†²C-RecA-ATP. Nature. 2009; 460:359–363. Dutreix M, Moreau PL, Bailone A, Galibert F, Battista JR, Walker GC, Devoret R. New recA mutations that dissociate the various RecA protein activities in Escherichia coli provide evidence for an additional role for RecA protein in UV mutagenesis. J Bacteriol. 1989; 171:2415–2423. Knippers R. DNA polymerase II. Nature. 1970; 228:1050–1053. Foster PL, Gudmundsson G, Trimarchi JM, Cai H, Goodman MF. Proofreading-defective DNA polymerase II increases adaptive mutation in Escherichia coli. Proc Natl Acad Sci. 1995; 92:7951–7955. Bonner CA, Randall SK, Rayssiguier C, Radman M, Eritja R, Kaplan BE, McEntee K, Goodman MF. Purification and characterization of an inducible Escherichia coli DNA polymerase capable of insertion and bypass at abasic lesions in DNA. J Biol Chem. 1988; 263:18946–18952. Kenyon CJ, Walker GC. DNA-damaging agents stimulate gene expression at specific loci in Escherichia coli. Proc Natl Acad Sci. 1980; 77:2819–2823. Napolitano, R., Janel-Bintz, R., Wagner, J. and Fuchs, R. P. P. (2000)All three SOS-inducible DNA polymerases (Pol II,Pol IV and Pol V) are involved in induced mutagenesis, The EMBO Journal, 19(29), pp. 6259-6265. Koffel-Schwartz, N., Verdier, J.-M., Bichara, M., Freund, A.-M., Daune, M. P. and Fuchs, R. P. P. (1984) ‘Carcinogen-induced mutation spectrum in wild-type, uvrA and umuC strains of Escherichia coli’,Journal of Molecular Biology, 177(1), pp. 33–51 Pham, P., Rangarajan, S., Woodgate, R. and Goodman, M. F. (2001) ‘Roles of DNA polymerases V and II in SOS-induced error-prone and error-free repair in Escherichia coli’,Proceedings of the National Academy of Sciences, 98(15), pp. 8350–8354. Ohmori H, Hatada E, Qiao Y, Tsuji M, Fukuda R. dinP, a new gene in Escherichia coli, whose product shows similarities to UmuC and its homologues. Mutat Res. 1995; 347:1-7. Wagner J, Gruz P, Kim SR, Yamada M, Matsui K, Fuchs RPP, Nohmi T. The dinB gene encodes a novel Escherichia coli DNA polymerase, DNA Pol IV, involved in mutagenesis. Mol Cell. 1999; 4:281–286. Kumari A, Minko IG, Harbut MB, Finkel SE, Goodman MF, Lloyd RS. Replication bypass of interstrand cross-link intermediates by Escherichia coli DNA polymerase IV. J Biol Chem. 2008; 283:27433–27437. Wagner J, Fujii S, Gruz P, Nohmi T, Fuchs RP. The ÃŽ ² clamp targets DNA polymerase IV to DNA and strongly increases its processivity. EMBO Rep. 2001; 1:484–488. Jarosz, D. F., Beuning, P. J., Cohen, S. E. and Walker, G. C. (2007) ‘Y-family DNA polymerases in Escherichia coli’,Trends in Microbiology, 15(2), pp. 70–77.

Napoleon :: essays research papers

Napoleon Bonaparte’s natural character can best be exemplified of that being of a revolutionary and nationalist individual. The political, social, and economic reforms personify Napoleon Bonaparter’s natural characteristics as both a revolutionary and a nationalist. Napoleon Bonaparte’s characteristics as a revolutionary can be seen is his consolidation and institutionalization of many reforms of the French Revolution during his leadership of France. In addition, Napoleon’s nationalist attributes can be best expressed in his ambitions to strengthen the power of France and the waging of the many wars in Europe historically referred as the Napoleonic Wars. Napoleon Bonaparte’s revolutionary and nationalist attributes are characterized in his political reforms. At first Napoleon favored the republic established by the French Revolution and he supported the Jacobins. Soon after he joined Abbe Sieyes in a successful coup d’ etat to overthrow the Directory. In overthrowing the Directory, Napoleon issued the Constitution of the Year VIII. The new constitution was established universal male suffrage that suggested democratic principles, a complicated system of checks and balances that appealed to republican theory, and a Council of State the evoked memories of Louis XIV. The new constitution in fact established the rule of one man—the First Consul, Bonaparte. He was elected the First Consul, he was the first modern political figure to use the rhetoric of revolution and nationalism, to back it with military force, and to combine those elements into a mighty weapon of imperial expansion in the service of his own power and amb ition. He can also illustrate his characteristic as a revolutionary by establishing an empirical government in France. As First Consul, Napoleon issued a general amnesty and employed in his own service persons from all political factions. He was ruthless and efficient in suppressing opposition, he established a highly centralized administration in which prefects directly responsible to the central government in Paris managed all departments, and he also employed secret police. All of these political reforms characterized his revolutionary attributes due to the fact that he embodied reforms that changed the political structure of France; also these reform characterized his nationalist attributes in that these political reforms were for the good of the state of France.   Ã‚  Ã‚  Ã‚  Ã‚  The social reforms that Napoleon Bonaparte instituted distinguish his traits of an individual as a revolutionary and nationalist. Napoleon continued the policy, of the French Revolution, of abolishing all the social inequality that marked the Old Regime.

immoral :: essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  Someone that I find to be immoral is my mother. There are many reasons for why I feel this way but just a few of them are, she likes to date men that are younger than me, she has never held a full time job in her life, she puts herself before her children, she is lazy, and she is very sexually active.   Ã‚  Ã‚  Ã‚  Ã‚  As far as my family is concerned she needs to grow up and start taking responsibility for her life and the actions that she takes. My mother bitches because she has no money and can’t pay rent, yet she won’t go out and get a full time job to pay her bills. Since she won’t work and has no money she live off the system, basically the way it works is the taxes we pay as employed people go to her and she does nothing. The amount of money that she gets from being on welfare has allowed my siblings and I to go without for much of our lives. Now since our fathers are in the picture more and have custody of us we are no being raised the way we have deserved to be our whole lives. The problem is that as a mother I thought that u were supposed to provide for your children and if anyone goes without clothing or food it is the parent.   Ã‚  Ã‚  Ã‚  Ã‚  When it comes to relationships my mother doesn’t have the best judgment. The men that my mother has had are normally younger than me and I am only 20, and most of the time they are unemployed just like her. My mom has no standards if it has a pulse she goes after it. For example I brought my best friend over to my moms house and the next day she told me how cute she was and that if he was single she would go after him. My mom hasn’t dated someone over the age of 25 since I can remember. She also has a new boyfriend every couple of weeks. A huge problem with her sleeping with so many men is that she isn’t setting a very good example for my 12 and 14 year old sisters.   Ã‚  Ã‚  Ã‚  Ã‚  In my eyes my mother is the most immoral person that I know.

Civilize The Wilderness :: essays research papers

Civilize the Wilderness   Ã‚  Ã‚  Ã‚  Ã‚  Wilderness, why civilize it? This is an interesting question, and one that is hard to answer. Why not just leave the wilderness alone, and let it grow and decide it's own beginnings and ends? Does civilizing the wilderness make it better or worse? In what ways is it better or worse if we leave it alone or it we civilize it? These are all excellent questions and are all worthwhile to think about.   Ã‚  Ã‚  Ã‚  Ã‚  Western culture has tried to civilize the wilderness for quite sometime now, but is it really something we should be doing? In the point of view of many, the wilderness should be civilized to accommodate for the increasing number of people in the world. We should also civilize it because we need the extra room and because we cannot live in uncivilized areas of the wilderness, at least not with all of the comforts of home. What effects will civilizing the wilderness now have in the future? Many questions can arise when contemplating civilizing the wilderness.   Ã‚  Ã‚  Ã‚  Ã‚  The wilderness is being civilized for one main reason. That reason is technology. Technology plays an important role in everyone's lives today. Without it, we would not have computers, fax machines, cellular phones, and all of the modern conveniences that we have today. The fact is, that many people believe that the wilderness is like an unborn country. A country that has nothing and is striving to become more advanced. We see this as an opportunity to better it and make it seem like we are actually helping. But, are we really helping? In my opinion, no. I feel that we are destroying something natural and something of beauty.   Ã‚  Ã‚  Ã‚  Ã‚  In many ways we are making the wilderness worse by civilizing it. We put unnatural objects into the wilderness, and it destroys the wilderness' natural beauty. Thoreau's ideal is to pretty much leave the wilderness as it is. If you need to inhabit it, don't use anything that does not come from within it. For example, Thoreau built his cabin from the trees that were in the wilderness that surrounded it. In this way, civilizing the wilderness is okay. The way we are civilizing it, is not okay. Too just clear-cut an entire forest, then build a house, an in ground swimming pool, and put up a satellite dish, is not exactly ideal to keeping the wilderness natural.   Ã‚  Ã‚  Ã‚  Ã‚  To destroy the beauty of the wilderness by civilizing it in the way that

Investigating the Properties of Ph

Investigating the Properties of pH The manufacture’s claim is that Sensodyne toothpaste micro hardens tooth enamel to help protect against the effects of acid wear, helps stop the twinges of pain from sensitive teeth formulated with low abrasivity, neutral pH and gentle yet effective cleaning system. To find out if the manufactures claim on Sensodyne toothpaste is the correct level of pH. I expect the Sensodyne toothpaste to be a neutral pH level as the manufactures claim that this products pH level is neutral. This would be indicated by a level of pH 6 and 7. The equipment needed for this practical * Sensodyne (toothpaste) Universal indicator * Universal paper * pH meter * Petri dish x 3 * Measuring cylinder x 6 * Wooden stick * Distilled water * Tap water * Ruler Method 1. Test the distilled water and tap water for the pH level to see if it were neutral so it wouldn’t make a difference to the results. 2. Set up 3 petri dishes and 3 measuring cylinders 3. Measure 10mls of tap water. Add water to the petri dish and add 5cm of Sensodyne (toothpaste) into each petri dish and repeat this step 3 times. 4. Measure 10mls of distilled water and add to the measuring cylinders as well as adding 5cm of Sensodyne (toothpaste) and repeat this step 3 times. . Mix the substances together with the wooden stick. 6. Put universal indicator (liquid) into the petri dish repeat this step 3 times. Record the results from each petri dish. 7. Put universal indicator (paper) into the measuring cylinder repeat this step 3 times Record the results from each measuring cylinder. 8. Set up pH meter, Put the pH meter into the measuring cylinder record the pH reading and repeat this step 3 times for a reliable. Results Table Universal Indicator Universal Paper pH Meter Test 1 pH6 6 7. 0 Test 2 pH6 6 6. 99 Test 3 pH6 6 7. 09 Photographic evidence of experiments Before: After: Before: After: Discussion * The results show pH of the toothpaste is neutral according to the pH meter, and slightly acidic according to the paper and indicator. The pH was discovered to be between 6 and 7 in all the tests done * The manufacturers’ claim was the pH level of the sensodyne (toothpaste) was neutral. My hypothesis was that the toothpaste was pH neutral and this was supported by the results. * I compared distilled water and tap water because of the different chemicals mixed with the water, but the results showed no difference so it didn’t affect the pH. The pH meter showed little varying but not too much this could be that the pH meter is out or that there could be something wrong with the meter because with my supported evidence its unlikely to be wrong. To improve this experiment would be to test with more than one pH meter to see if there’s a difference in comparison. Otherwise it may be more efficient if there were more tests done for more support towards the result. * My independent variable is the sensodyne (toothpaste) because in every experiment I used the same amount of sensodyne. The dependant variable was the pH levels were I did not have control over what the pH level would indicate. This is the reason the results are reliable because I repeated the steps three times in each test and continued to get the same results. This experiment could be improved by obtaining samples of toothpaste from a variety of locations. This will identify and inconsistency’s in the product itself. Conclusion * The experiment found that the manufactures claim of pH is correct and it is a neutral pH with supported evidence. Teeth would be affected by acidic toothpaste or alkaline toothpaste. Therefore a pH between 6 and 7 is an appropriate toothpaste . This sensodyne (toothpaste) is designed to help people with sensitive teeth.

Macquarie Bank

?Introduction Macquarie Bank has been recognised as one of the most prestigious banks in Australia and around the world. Macquarie was established in Australia in 1969, it began operations in Sydney in January 1970 with only three staff. Macquarie Bank first opened its doors for business on 1 March 1985 with a retail branch in Sydney. Today, Macquarie Bank operates in a range of investment banking, commercial banking and selected retail financial services markets both in Australia and overseas. It is the only substantial, majority Australian owned investment bank and is a licensed trading bank under the Australian Banking Act 1959 (Macquarie History, 2007). Macquarie Bank has been consistently associated with a stream of major financial innovations, which have underpinned its reputation as a market leader. Their main focus that has helped them in their success is their risk management department as well as their focus on select markets on which they enter. The Macquarie culture is represented by the way in which they work together. The values to which they aspire can be summarised in six principles: integrity, client commitment, strive for profitability, fulfilment for our people, teamwork, and highest standards. Macquarie Bank’s commitment to the six principles is vital for continued growth and prosperity (Macquarie, About Macquarie, 2007) Operating Environment: The Macro Environment Political and legal forces Political and legal forces hold a great impact on all industries that wish to operate legally within a country. Regulatory groups are required within the banking industry to assist in the stable operation of a nation. A major regulator would be The Australian Prudential Regulation Authority (APRA). Various other major political and legal forces which solely influence the banking industry include The Australian Bankers’ Association (ABA), The Australian Securities and Investments commission (ASIC) and The Reserve Bank of Australia (RBA). APRA was created to be an advisory figure in the regulation of the Australian financial services industry. This group â€Å"oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, friendly societies, and most members of the superannuation industry† (APRA, 2007). The ABA works with its members to provide analysis, advice and advocacy and contributes to the development of public policy on banking and other financial services† (ABA, 2007). The ABA acts as a union for banks and ensures that the banking industries views are heard, when the government decides to alter policies or legislations. Th e ABA also helps to strengthen the benefits of competition to Australian banking customers. ASIC’s task is to enforce and regulate companies and financial services laws in order to protect the customers as well as the investors and creditors. ASIC exists to regulate; â€Å"Australian companies, financial markets, financial services organisations and professionals who deal and advise in investments, superannuation, insurance, deposit taking and credit† (ASIC, 2007). â€Å"The RBA’s main responsibility is the monetary policy† (RBA, 2007). The board members make the policy decisions with the aim of gaining a low and stable inflation over the medium term. According to the RBA website, the other major goals include; maintaining financial system stability and promoting the safety and efficiency of the payments system. The RBA also acts as a banker to the Australian Government and actively participates in financial markets, manages Australia’s foreign reserves and issues Australian currency notes. Global Forces Changes in the financial status of markets overseas, drops or increases in interest rates overseas, and even new political regimes can all affect organisations around the world. Global forces which have recently held an effect on Macquarie bank would be the current drop in the US economy which has affected markets all around the world. The main impact which it has made in Australia has to do with financial institutions since they hold assets from the US market. This has directly affected Macquarie with its financial services and products. Economic forces Economic forces pertaining to Australia can greatly influence the way businesses operate. General economic forces such as inflation rates, interest rates, currency exchange rates, unemployment levels, average disposable income, and personal saving rates can all affect organisations to a certain extent (Hill et al, 2004, p74). Inflation has affected Macquarie bank which then in turn goes to interest rates. Currently economic forces within Australia include rises in certain industries including the mining industry and real estate. By these industries entering a boom period, it increases the amounts which these industries will be willing to invest which in turn increases profits for banks. Technological forces In modern society with technology being so closely tied to having a competitive advantage, a lot of industries compete to keep up to date with new developments. The invention and increased use of computers, internet, and phones have all made a major impact on organisations around the world. The main effect that technological advancements have made within Macquarie bank is that internet banking is now a common and widely used item so banks need to constantly upgrade their technology in order to prevent hackers from entering their databases and causing havoc. Operating Environment: The Micro Environment There are many forces that can impact the outcome of a firm’s growth and profitability. For Macquarie Bank, the forces that impact their success will be explored with the analytical frame work introduced by Michael Porter; his five forces model, which will look at the major contributing factors that will aid and deter the growth of Macquarie Bank in this industry. Risk of threat of new entrants The risk and threat of new entrants into the market can be seen as both high and low. High, since there has been a deregulation of the market for banking, which will allow for overseas competitors to compete in the local market. This is a large threat since these are the competitors that have a large pool of resources that can actually compete to a high level with Macquarie. However, the threat can also be seen as low since there is still a high degree of entry barriers, i. e. operational regulations and laws implemented by the government and other regulatory boards. Additionally, a major factor that will deter competitors would be such things as brand loyalty as well as the over saturation of banks in the industry. Therefore, the threat of new entrants can be seen as moderate and is highly dependant on the entrant’s resources and capabilities. Rivalry among established companies The rivalry in the banking industry can be seen as discrete, yet volatile. They advertise in the media about their interest rates, products and services, however, apart from that, their actions are rarely seen. Each bank firm always try to gain the better package and interest rate to attract more customers. However, these rates are quite similar with little variance. A major factor that gives them the competitive advantage would be the image the bank upholds and the services provided in comparison. The main point of attack that most banks concentrate on now is their customer service area, since most of the services that they provide are quite similar. Macquarie has a very well maintained, high profile image. They provide a lot of diverse services; however, they charge premium service fees for them. This has not deterred people from using their services, but has given their users a sense of assurance; they feel as though they pay top dollar for top service and quality. This sense of prestige as well as resources and capabilities has given the Macquarie bank their high image and profile as well as success. Bargaining power of suppliers The main supplier of Macquarie bank would be their shareholders. By owning a share in Macquarie depicts that these people have invested money into this organisation and since there are various options to choose from, Macquarie must be unique in some sense to attract these people. It would become costly for Macquarie to lose these shareholders as with banks, money is the good which is being transferred and to lose shareholders would only lead to a deficit in funding for the bank. Therefore, the bargaining power of suppliers would be seen as high since there is no switching cost for them to move their money into another investment area. Macquarie must come to a compromise with supplier demands or face losing a stream of equity and funding. Threat of substitutes The main threat of substitute services for Macquarie Bank would be; credit unions and building societies. Credit unions, especially the larger ones offer most of the services that Macquarie offer, however, with fewer fees. Building societies although not as main stream and service diverse as credit unions have the potential to develop the competencies to deliver them, for example, Bendigo Bank; which was originally a building society. Although these two types of institutions do not offer the wide array of services that Macquarie does, it can steal away some of Macquarie’s customers, since they deliver a minimal version of the services that Macquarie provides. Additionally, with Macquarie’s reputation and diverse array of services, the threat of substitutes would be on a miniscule level. Bargaining power of buyers The banking industry in Australia can be seen as a saturated market. This saturation allows buyers (consumers) a level of bargaining power. This means that the consumer can negotiate interest rates and packages to their advantage against the provider. However, since there are only a few financial institutions in Australia, many of whom can charge higher prices for services and packages. Yet on the other hand, the domestic banking industry is considered to be competitive, which can offset the balance with only having fewer firms in the market. Therefore, the bargaining power of buyers can be considered as moderate. Competitive Advantages Macquarie bank provides investment banking, commercial banking, retail financial services in Australia and selected financial services offshore. It operates through the following business segments: Asset and Wealth Management; Financial Markets; Investment Banking; and Lending. Macquarie is a diversified international provider of financial and investment banking services. It has the following key resources and capabilities compared to Commonwealth and Bendigo Bank: Human Resource Macquarie bank’s hosts and presenters are industry experts who have the xperience and knowledge to achieve the maximum outcome in this complex and rapid changing economic environment. With a network of over 10,000 people in 24 countries, the staff can add the most value and advantages to clients. Annette Martins is currently employed as an associate economist in the economics team at Macquarie bank. Her past experience includes working for the NSW Treasury as an economist within the Economic and Fiscal directorate. Other staffs have worked for such as Reserve bank of Australia (Macquarie, 2007). At Macquarie, there are elites in different professions such as Economy matters, Marketing, Property and Vision. All the staff members are carefully drawn from a broad range of industries and market segments. It is also allowing them to apply their expertise to the customers. Customer Resource Macquarie bank is currently operating its services in more than 40 countries around the world as OzForex is serving around 30,000 transacting customer internationally. It provides a depth of service (accurate and insightful view) with specialist capabilities to wholesale and private customer in both the domestic (Australia) and international economies (Macquarie, 2007). Simultaneously all these customers may invest their money with other Macquarie’s business groups such as Funds management or financial service groups. They both run domestically and internationally. The Financial service group services more than 670,000 clients all together with other Macquarie Departments. Department Resource Macquarie is currently operating its service in seven major business groups which are Investment Banking Group, Equity Markets Group, Treasury and Commodities Group, Banking and Securitisation Group, Real Estate Group, Funds Management Group and Financial Services Group. With all these services, Macquarie owns huge customer resources within Australia and foreshore. Each department in Macquarie is serving specific groups which may overlap with other departments because Clients may be interested in more than one service which Macquarie provides (Macquarie, 2007). Subsidiary Companies Macquarie is providing its specialist banking and financial service in select markets around the world. It also has a lot of subsidiary companies around the world. OzForex is an online foreign exchange provider which Macquarie has purchased 51% of the shares. It will allow Macquarie to offer tailored foreign exchange services to its substantial retail financial services within financial service groups (Macquarie-OzForex, 2007). Comparison against rival Banks Commonwealth bank’s principal activity is providing integrated financial services which include business and institutional banking, superannuation, life insurance, funds management and broking services and finance company activities. It operates in Australia, NZ, UK, USA, and Japan†¦etc. It has a wide presence in Australia with the largest branch and ATM network. It also received the award for excellence – Best Bank in Australia but was not mentioned in relation to investment services (Commonwealth Bank, 2007). Bendigo bank’s main financial services include business banking and commercial finance, funds management, treasury and foreign exchange services, superannuation and trustee services. It operates mainly in all Australian estates and the Australian Capital Territory. Bendigo bank is responsible for a number of banking innovations in Australia such as visa credit and debit cards (Bendigo, 2007). With all the resources and capabilities when comparing Macquarie bank to Commonwealth bank and Bendigo bank, Macquarie is on a leading position for investment banking. Deregulation is expected to lead to an increase in competition in the banking industry, and could involve a decrease in profitability. There are four factors in a bank’s competitive advantage that needs to be considered: (Chen. T. , 1999) Manpower Financial management Asset base Intangible assets Achieving success in the industry will involve 3 key factors. These are the costs, product and financial strength of the corporate entity. To be successful in the banking industry, the bank needs an insight into the changes in banking methods, cost management and long-term financial solutions. Macquarie bank’s strategy is to expand selectively in practical areas. (Macquarie Annual Report, 2007) Macquarie has entered the market of infrastructure investing since 1996. It has become one of the largest private managers of infrastructure in the world, with rapidly increasing revenue and profit. Macquarie bank’s specialist funds are currently buying toll roads, airports and rail systems world-wide. It is also a key growth driver and has been exported to international markets; its assets under management in specialist funds increased 50 per cent from $A87. 6 billion to $A131. 3 billion. Macquarie’s long-term strategy has allowed them to enter new sectors and regions flexibly as opportunities arise. This strong risk management has become a key factor of Macquarie’s success. The overall result is driven by strong growth in every region where Macquarie operates. Macquarie has achieved No. ranking in Australia for mergers and acquisitions whilst maintaining its leading market position for equity rise. It has also been ranked No. 1 broker by the ASX (Australian Stock Exchange) in market share. Macquarie bank, Australia’s largest Cash Management Trust (CMT) provider also has an agreement with Australia’s largest retail equities network, GBST (Glob al Banking & Securities Transactions). These strategic alliances provide Macquarie with an enhanced reach to its customers as well as customers from other alliances, hence forming a broader network. Company Strategy Macquarie company strategy Macquarie states that â€Å"Our strategy is to expand selectively, seeking only to enter markets where our particular skills and expertise deliver real advantage to clients† (Macquarie Annual Report, 2006); â€Å"Macquarie aspires to be a pre-eminent provider of financial services over the long haul† (Macquarie, 2007). This statement also shows that their strategy is to be a leader in their sector. (For more information on the business level strategy, please refer to appendix 1). Competing with Macquarie. Macquarie Bank Group can be seen as the market leader in investment banking, inancial services and retail banking â€Å"Macquarie Bank has been consistently associated with a stream of major financial innovations, which have underpinned its reputation as a market leader† (Macquarie History, 2007). The way that they have focused on market segments has given Macquarie an edge over their competitors; since they service the market segments which they see profit and growth in for themselves as well as their customers. What this means is that they minimise their risk of entering â€Å"stagnant† areas and maximise growth and return by servicing their target groups. Macquarie Bank Financial Results Total income from ordinary activities for the year 2007 was up 49% to $A7,181m; International income was up 70% to $A3,457m; Net fee and commission income was up 25% to $A3,540m; Trading income was up 20% to $A1,047m; Net interest income was up 23% to $A728m. Asset and equity investment realizations and other income were up 257% to $A1, 866m (Macquarie Financial Report, 2007). The expense to income ratio was slightly down at 73. 2 % (Macquarie, 2007). Refer to appendix 2 for the pie chart. *EPS = Net Earning / Outstanding shares Macquarie banks financial possession as of May 2007 is Net profit of A$1. 46bn. There has been a 60% increase as compared to the later year and six times the level increase as compared to the last five years. Earnings per share increased 48% from $A4. 00 to $A5. 92. This is 4. 5 times the level of earnings per share of five years ago (Macquarie, 2007). Earnings per share are generally considered to be the single most  important variable in determining a share's price. It is also a major component of the price-to-earnings valuation ratio. The P/E looks at the relationship between the share price and the company’s earnings. A high P/E  suggests that investors are expecting  higher earnings  growth  in the future compared to companies with a  lower P/E. However, the P/E ratio doesn't tell us the whole story by itself. It's usually  more useful to compare the P/E ratios of one  company to other companies in the same industry, to the market in general or against the company's own historical P/E. P/E Ratio = Market price per Share / EPS P/E of Macquarie for 2007 = 82. 75/ 5. 916* = 13. 987 (Macquarie Financial Report, 2007) The Pay-out Ratio shows the amount of earnings paid out in dividends to shareholders. Investors can use the payout ratio to determine what companies are doing with their earnings. The payout ratio also indicates how well earnings support the dividend payments: the lower the ratio, the more secure the dividend because smaller dividends are easier to pay out than larger dividends. (Investopedia, 2007) Macquarie Bank (Payout Ratio) 2005 2006 2007 53. 20% 54. 40% 54. 30% As the ratios above show, there has been very slight fiction in the level of dividend payouts. There has been a 0. 0% decline in the ratio which could only mean, that investors are feeling secure with the payout of the company which in turn means the company has higher retained earnings in their balance sheet and are able to keep investor confidence. Other data from the financial report suggests a decline in the expense to income ratio, for every $A1 of income $A0. 732 goes into expense. This suggests that Macquarie is h andling its expense well and is confident enough to pay off their investors. Return on Equity is a ratio that captures profitability, efficiency and capital structure within an entity. Changes in the ratio will reflect the direction of an entity’s profitability, asset efficiency and capital structure. ROE for Macquarie Bank 2006 = Net profit/ Average equity x 100 ROE = 916 /5968 ROE =15. 34% ROE for Macquarie Bank 2007 = Net profit/ Average equity x 100 ROE = 1463 /7519 ROE = 19. 46% The ROE increased from 2006-2007. In 2006 an investment of one dollar of shareholders equity returned 15. 34 cents of earnings available for distribution to shareholders. In 2007 an equivalent dollar investment generated 19. 6 cents of earning available to distribute to the shareholders. A figure which depresses the return on equity is if the cost of debt exceeds the return on assets. The debt ratio indicates how many dollars of debt exists per dollar of assets. It shows the leverage between a company is debt financed or asset financed. Equity Ratio for Macquarie 2007 = total equity / total assets x 100 = 7519/ 136, 389 x 100 = 5. 56% est. 6% This shows that 6% of Macquarie†™s debt finances their assets. They are relatively debt financed. Another way to measure the company’s financial leverage is the debt to equity ratio. It is calculated by dividing  its total liabilities  by  stockholders' equity. It indicates what proportion of equity and debt the company is using to finance its assets. = 128,870 / 7519 = 17. 14 A high debt/equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense. If a lot of  debt is  used to finance increased  operations (high debt to equity), then Macquarie could potentially generate more earnings  than it would have without this  outside financing. If this were to increase earnings by a greater amount than the debt cost (interest), then the shareholders benefit as  more  earnings are being spread among the same amount of shareholders. However, the cost of this debt financing may  outweigh the return that  the company  generates on the debt through investment and business activities and become too much for the company to handle. This can lead to bankruptcy, which would leave shareholders with nothing. (Investopedia, 2007) Issue 1 Macquarie Bank users a decentralised management structure. This decentralisation refers to when decisions are made at different levels within an organisation (Hill et al, 2004, p273). Decentralisation Overview: Macquarie’s management and organisation structure is considered to be non-hierarchical. This means that the chain of command within the organisation is designed to be decentralised. This management approach allows the lower and mid-level managers within the seven divisions of Macquarie to make decisions on their own. Macquarie encourages their employees to gain a sense of ownership and to develop entrepreneurial skills in order to make strategic decisions (Macquarie Management, 2007). By giving the lower and mid-level managers the power to make decisions, it will reduce the bureaucratic cost to the company. In other words, delegating lower and mid-level managers’ decision-making responsibility, will lead to a reduction in upper level managers within the organisation. Furthermore, having a decentralised management structure will reduce information overload to the central management team, which will enable them to spend more time focussing on market and industry forces (Macquarie Management, 2007). A decentralised management structure may be good in order to keep costs down and provide central managers more time to make effective decisions; it may however cause further problems within the organisation. Problem 1: Communication & Coordination issues involving the Decentralisation Approach: The decentralised management theory states that lower bureaucratic costs will avoid communication and coordination problems within an organisation. This may be true in theory, however in reality it is not always the case. For example, the seven divisions of Macquarie are run and operated independently. All of the lower and mid-level managers of the organisation make their own decisions within each division. Since every division in Macquarie are related, it is surprising to see that they do not effectively communicate with each other because there is no level manager do so. In other words, there is no managerial network that integrates with each of the divisions. This could mean that information and other resources are not equally shared, which can lead to difficulties in creating value for the ompany. Problem 2: Leadership Issues using the Decentralised Management Approach: Another decentralised issue that could affect Macquarie is for when the organisation is facing periods of uncertainty. For instance, when the Macro-environment is volatile or unpredictable it is important for an organisation to show strong leadership. In these uncertain times it is important that leadership decisions are best given from higher-level managers. One of the issues concerned with Macquarie’s management structure is that leadership decisions do not come from lower or mid-level managers. In fact, decision-making made by an organisation’s division can be made to benefit them rather than to benefit an organisation as a whole. Therefore, this decentralised management approach may not be effective to face periods of uncertain times. Recommendations Macquarie decentralised management system is working well despite some of the issues facing the company. However, Macquarie Bank can benefit from using both a centralised and a decentralised management structure. A centralised management system is the complete opposite of decentralised management structure, where decisions are made by upper-level managers of the organisation (Hill et al, 2004, p273). The approach that Macquarie should take is to find a balance between a centralised and decentralised management regime. For instance, issues such as investing money into infrastructure should be done using a centralised approach and consequently issues dealing with recruitment and training should be done through decentralisation. Archiving the balance between the two management structures will determine the success of Macquarie Bank. Additionally, Macquarie should add a managerial network that integrates with all of the divisions in order to improve communication and resource sharing to create value for the organisation. However, it is important to note that as the company expands the decentralised approach may become less effective due to rising bureaucratic costs. Justifying the Recommendations: The real question that must be put forward to Macquarie is that can they continue to grow under a decentralised management regime? This is a key issue regarding the organisation structure for Macquarie Bank. As the Macquarie organisation expands, many critics argue that sustaining a decentralised management system in the long-term will fail. This is due to the fact that expanded business growth will not be able to maintain current hierarchical levels because it is too difficult, but more importantly it will lead to inefficiencies in managing the companies’ resources (Hill et al, 2004, p274). However to solve these issues, Macquarie can choose to divide the functional responsibilities up within the company across the same level, best known as ‘Horizontal Division of Work. ’ Using a functional structure in a horizontal framework will enable people with similar tasks be grouped together in order to increase productivity. This will reduce bureaucratic costs for an expanding business and increase operational flexibility. Therefore, Macquarie should consider a decentralized managerial approach in the short-run but in the long-run they may opted for a functional structure in order to reduce costs. Issue 2 Macquarie’s focus strategy to expand selectively, seeking only to enter markets where their particular skills and expertise, deliver real advantages to clients has served them well to this day, with expediential growth, it can have some implications. The main implications that can arise from this course of action and strategy are the limitations of the potentially profitable and growing markets that Macquarie could miss out on. This can lead to limited growth and a loss of market share if Macquarie continues this course of action to a stringent degree. It is near impossible to predict the trends to such an exact degree as too when to enter a market to obtain maximum growth, however, if there is the potential for that growth to occur, then the advantage can be taken by entering that market before this growth eventuates. However, by doing so creates risk. This risk is the gamble on predicting the success of the potential growth in the area. Although Macquarie does have a whole department dedicated to risk management, it still does not account for the ability of the environment to make unforeseeable changes. These environmental factors are out of the companies control, however, the company can anticipate an environmental change and implement a course of action to take in order to counter or profit from it. Therefore, Macquarie’s strategy of focusing on a select market to enter, although has helped them grow into a gigantic organisation, it could also be their downfall due to the potential growth they could miss out on by trying to minimise their risk. Problem 1: Market selection and alienation The way that Macquarie’s strategy focuses on expanding selectively to only enter markets where their particular skill are suited will cause these limitations in their possible future growth. This strategy can be seen as a focus strategy since Macquarie looks at targeting a particular market or customer segment; as stated in their original strategy, to expand selectively†¦where their skills and expertise deliver real advantages (Hill et al, 2004, p317). What a focus strategy entails is the focus on a niche market, which can be defined by, in Macquarie’s case, the type of customer and geographical region (Hill et al, 2004, p317). Although this strategy entails cost – control due to lower output levels to reach a scale of economy, Macquarie bank has grown so much that it does not have to take this part of the theory into too much account. Additionally, since Macquarie has created some unique attributes and competencies to its products and services accompanied by their high level of service quality it has given them a competitive edge by using this focus strategy. This has allowed Macquarie to charge higher rates which has aided them in reaching the scales of economy. However, the issue of a focus strategy, in Macquarie’s case, is that by minimising their risk by entering possibly slow growing economies can minimise their growth rate. This is due to the environmental and operational environment which they have no control over which can eventuate in that market to grow exponentially. Although this can be predicted, it cannot always be acted upon with enough haste to reap the maximum benefits. This leaves room for other competitors to move in and take advantage of this risk. Thus this strategy implemented by Macquarie can hold potential growth defects for them if they hold to this strategy too closely. Recommendation: To combat this market selectivity, Macquarie needs to manage change throughout the organization. The changes which it will introduce will establish a sense of urgency. Strategic leadership can assist in making that change happen within Macquarie Bank. Strategic leadership is the process of providing the direction and inspiration necessary to create, provide direction to, or sustain an organization or an organizational unit Dubrin et al, 2003, p400). An Innovative way to expand within the same banking industry and yet keeping the same image of Macquarie’s high scale markets is driving convergence which also helps redraw industry boundaries. Instead of competing with competitors, it can compete with its own financial advisory services. Another way to compete is imitation. Macquarie can benchmark their performance to other high scale ba nks globally and use two key components; strategic follower ship and learning by watching (Dubrin et al, 2003, p410). Justification for Recommendation Offering a higher quality than its competitors, can help combat markets selectively. Customer’s service, for banks is one of the ways total quality management, can be used. The variable which makes TQM possible is extensive employee involvement. Other hot topics are corporate social responsibility, it is a well-researched field of management and it provides guidelines for leaders about how to be more accountable to a new global economy. After the advents of Enron, topics of CSR and Corporate governance have emerged as ways to prevent people working in highly funded projects to have some form of transparency within the system. Macquarie which is Australia top investment bank should undertake such a role as they are leaders in the industry. Conclusion to Macquarie Banks strategic approach In summary, we have gone through a historical overview of Macquarie Bank and have come up with the expected result from this power house institution. Macquarie bank is an institution known for its complex ways of handling its organization, critics say it is like ‘wrestling in the dark with a ghost’ (Schwab, A; 2007). After evaluation of strategies we realize that Macquarie is a bank which provides prestige for Australia and has a high reputation in the minds of many. References Australian Bankers Association, (2007), ‘The Australian Bankers’ Association’s role,’ (online) http://www. bankers. asn. au/default. aspx? FolderID=2 (Accessed 13th September 2007) Australia Competition and Consumer Commission, (2007), ‘Role and Activities,’ (online) http://www. accc. gov. au/content/index. phtml/itemId/54137/fromItemId/3744 (Accessed 13th September 2007) Australia’s Free Trade Agreement, (2007), ‘Benefits of Free Trade Agreements for Australia,’ (online) http://www. fta. gov. au/default. aspx? FolderID=239=187 (Accessed 13th September 2007) Australia Prudential Regulation Authority, (2007), ‘Streamlined data collection for life companies and friendly societies,’ (online) http://www. apra. gov. au/media-releases/07_15. cfm (Accessed 13th September 2007) Australian Securities and Investment Commission, (2007), ‘ASIC at a Glance,’ (online) http://www. asic. gov. au/asic/ASIC. 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The reason they have a distinctive service differentiation from their competitors can be based on their values that they hold within the company. These values are; high ethical and professional standards, commitment to clients and growth, motivating and retaining quality staff, creating aligned staff and shareholder rewards and stringent reporting to create a high level of accountability (Macquarie, 2007) Focussed market segmentation Macquarie’s focussed market segmentation plan is to target a preferred demographical segment. They target the areas where they can best maximize their business as well as service their customers to the expectations that customers would hold from this prestigious company. They have a large commitment to the people they service as well as constant improvement to deliver higher standards of services and products to those people. As mentioned earlier, they expand selectively, seeking only to enter markets where Macquarie’s particular skills and expertise deliver real advantage to clients Focussed distinctive competency Another factor that has given Macquarie its strategic advantage would be