Statistical Mechanics and its Applications

Question: Discuss about the Statistical Mechanics and its Applications. Answer: Introduction In this report, ratio analysis technique has been used and demonstrated. Lamar Swimwear ltd is the business entity that has been used for the ratio analysis and business analysis has been used. Profitability ratio, solvency ratio and liquidity ratio has been used to analysis different aspects of the Lamar Swimwear ltd. Income statement and statement of financial position has been used to calculate different ratios to analyse business operations. In this report, analyses of different position have been examined and investment decision has been framed. At the conclusion of overall business condition of Lamar Swimwear ltd has been reported to investors in this report. Calculation of ratios Ratio Formula 2009 2008 2007 Gross margin Gross profit / Sales x 100 565,000 / 1875,000 x 100 = 30.13 % 460,000 / 1500,000 x 100 = 30.66 % 400,000 / 1200,000 x 100 = 33.33 % Net margin Net profit / Sales x 100 119,700 / 1875,000 x 100 = 6.384 % 91,800 / 1500,000 x 100 = 6.12 % 88,200 / 1200,000 x 100 = 7.35 % Current Ratio Current assets / Current liabilities 710,000 / 540,000 = 1.31 times 585,000 / 340,000 = 1.72 times 450,000 / 220,400 = 2.04 times Net income to total assets Net profit / Total assets 119,700 / 2100,000 x 100 = 5.70 % 91,800 / 1350,000 x 100 = 6.80 % 88,200 / 1100,000 x 100 = 8.02 times Return on equity Net profit / Equity x 100 119,700 / 856,100 x 100 = 13.98 % 91,800 / 646,400 x 100 = 14.20 % 88,200 / 554,600 x 100 = 15.90 % Debt to total asset ratio Debt / Total assets 1243,900 / 2100,000 = 0.59 times 703,600 / 1350,000 = 0.52 times 545,400 / 1100,000 = 0.50 times Debt-equity ratio Debt / Equity 1243,900 / 856,100 = 1.45 times 703,600 / 646,400 = 1.09 times 545,400 / 554,600 = 0.98 times Time interest earned ratio Earnings before interest and tax / Interest Expenses 260,300 / 85,000 = 3.06 times 186,000 / 45,000 = 4.13 times 160,100 / 35,000 = 4.57 times Earnings per share Net profit for shareholders / Outstanding equity shares 3.15 per share 3.06 per share 2.94 per share Average collection period Trade receivables / Sales revenue / 365 360,000 / 1875,000 / 365 = 70 days 259,000 / 1500,000 / 365 = 63 days 170,000 / 1200,000 / 365 = 51.70 days (Zha and Liang, 2015) In order to analyse investment opportunity in the business organisation different aspects of the entity shall be examined. Ratio analysis is one of the techniques that can be used to analyse business operations and business situation of entity. Ratio analysis is the technique under which financial statements are used for analysing business operations. Profitability, solvency, liquidity and efficiency are four major ratios that are used to analyse business situation of the business organisation. In present case, ratio analysis technique has been used in order to analyse business situation of Lamar Swimwear ltd. Financial statements i.e. statement of financial position and income statement of Lamar Swimwear ltd has been used to analyse profitability, liquidity, solvency and efficiency of Lamar Swimwear ltd. Following is the financial analysis of the Lamar Swimwear ltd: Profitability analysis It is the ratio technique under which profitability of the business organisation will be analysed. In case of Lamar Swimwear ltd, gross profit margin has reflected adequate level of profitability from the primary business operations. Lamar Swimwear ltd has adequate level of gross profit from its business operations. In case of net profit margin, Lamar Swimwear ltd has also shown adequate level. On the other hand, in terms of net profit margin of Lamar Swimwear ltd is lacking behind as compared to industry standards. Net profit margin is the profitability ratio which calculates profit earnings capacity of the business organisation. Return on equity is another profitability ratio that is used to reflect earning capacity for equity shareholders or investors. Return on total asset is another ratio that denotes profit earning capacity by utilising assets of the business organisation (Zha and Liang, 2015). In case of Lamar Swimwear ltd, return on total assets, has not reflecting adequate r esults in term of earning capacity of Lamar Swimwear ltd from its business total assets. This position can hamper business asset of the Lamar Swimwear ltd in later years. Liquidity analysis Liquidity can be defined as the state under which cash availability position in the business organisation. There are two major types of ratios that can be used to measure liquidity in the business organisation. Current ratio is the ratio that is used to analyse liquidity position of the Lamar Swimwear ltd. Current asset and current liabilities are two components of current ratio. This ratio is used to analyse position of liquidity in the business operations and level of working capital in business operations. Liquidity in Lamar Swimwear ltd is positive as current ratio is more than 1 time in all last years (Uechi et al., 2015). As compared to industry standards, Lamar Swimwear ltds liquidity position is not adequate in all three years. Solvency analysis Debt to total assets is the solvency ratio that is used to analyse level of debt used in backing assets of the business organisation. In case of Lamar Swimwear ltd, debt to total assets shows inadequate results i.e. their asset is backed by more than half of debt. In 2009, their total assets are purchased from total debt of the business organisation. Another solvency ratio is debt to equity ratio, which is used to measure proportion in capital structure of the business organisation. In case of Lamar Swimwear ltd, their debt to equity ratio has shown adequate level of safety among investors. As their debt is less than its equity i.e. internal funds. Another solvency ratio that is used to analyse solvency in the business organisation is time interest earned ratio. This ratio is used to analyse interest or financial charges payment capacity of the business organisation. In case of Lamar Swimwear ltd, their solvency capacity in terms of ability to pay financial charges is at good level. As compared to industry standards time interest earned ratio is not at adequate level. Efficiency ratio Efficiency ratios is used to analysis efficiency in the business operations of business entity in terms of receivables, payment and inventory turnover. In case of Lamar Swimwear ltd, debtors collection period has been calculated which reflect collection of cash from the debtors. Debtors collection period is the reflect conversion period of debtors into sales revenue i.e. period when cash is actually collected by the business entity. In case of Lamar Swimwear ltd, debtor collection period has shown inadequate collection period. As compared to industry standards, debtors collection period of Lamar Swimwear ltd is way more. Debtor collection period shall be controlled to as low as possible. In case of Lamar Swimwear ltd, their debtor collection period is at higher level and this means liquidity is postponed in Lamar Swimwear ltd. Conclusion From this report, it can be concluded that Lamar Swimwear ltd has mixed level of business operations. It can be concluded that, different ratios has been used and calculated to analyse business operations. Lamar Swimwear ltd is the business organisation whose business operations has been analysed and commented on. It can be concluded that liquidity position of Lamar Swimwear ltd as compared to industry standard is lacking behind. Solvency position of Lamar Swimwear ltd has shown adequate results as compared to industry standards. On the other hand, profitability position of Lamar Swimwear ltd has also shown inadequate results. Recommendation Since Lamar Swimwear ltd is financially strong in terms of liquidity and solvency therefore it is recommended to invest in it. Only thing that Lamar Swimwear ltd has to improve is debtors collection efficiency in terms of collecting cash of credit sales. As compared to overall industry standards, Lamar Swimwear ltd is not up to mark and has underperformed. On the above basis, it is recommended not to invest in Lamar Swimwear ltd. References Zha, Y., Liang, L. (2015). Aggregated ratio analysis in DEA.International Journal of Information Technology Decision Making,14(6), 1285-1297. doi:10.1142/S0219622014500114 Uechi, L., Akutsu, T., Stanley, H. E., Marcus, A. J., Kenett, D. Y. (2015). Sector dominance ratio analysis of financial markets.Physica A: Statistical Mechanics and its Applications,421, 488-509. doi:10.1016/j.physa.2014.11.055

The Advantages of Stupidity Essay Example For Students

The Advantages of Stupidity Essay Most people say being stupid will lead no where. They claim that it is the worst possible condition in which to spend ones life, and if possible, it should be completely avoided. They would even suggest if the symptoms of stupidity are caught in the early stages, it could easily be treated by a surgeon. The most effective method used to do this is the chainsaw technique, later described in volume two. Yet, perhaps if people took a closer look at someof the advantages stupidity had to offer, they wouldnt have such a negative attitude toward it. After reading this paper, one will understand the advantages of stupidity. We will write a custom essay on The Advantages of Stupidity specifically for you for only $16.38 $13.9/page Order now Admittedly, stupidity has certain disadvantages. Life isnt a bowl of cherries. And being stupid doesnt make it any fruitier. Being stupid can annoy even the most sensitive people. If one acts stupid, and does it in the wrong crowd, like a group of adults, it will seem more immature than funny. If one is forced to act stupid while dealing with lower life forms, for example, high school teachers, one may encounter barriers such as cruelty and insensitivity, with the utterance of statements like, Think with your head straight! or, You have a brain, use it. Yet these areall true, there are still many advantages to stupidity.The first advantage is very easy to understand. Stupid people are never asked to do a lot. Many have noticed that people tend to steer away from someone they feel may be stupid. This is for a very good reason. The stupidity which they posses makes a name for themselves, a name which can be very difficult to shake. Possibly, it is a word which describes the working hab its of the person, such as crappy. Yet, this creates a positive situation for thestupid person.They will have a lot of free time on their hands for more of lifes truly meaningful pleasures. Some of these activities are combing facial hair, and counting the pixels on a Sony TV. Now, there has been a rumour going around that suggests that stupid people have low expectations. This is true. They are so stupid that they dont realize great from O.K. They could have a Sanyocordless phone, but would probably choose instead a Pierre Cardin alarm clock telephone, because it comes free with their sensamatic folding bed. And someone with the advantage of stupidity might have a hard time doing certain tasks, or setting things up. Yet this isnt allbad. For example, if a stupid person leaves the chore, and comes back to it later, no one will be able to understand it. Would they get fired from their job? No. For the very simple reason that no one would understand their work except for them. The job would have to be given back to the stupid person, perhaps with a higher salary, or someone would do it for them, leaving them with even more free time! Free time is great for brainstorming (Admittedly this seems to be a bad choice of words!). Yet the ideas stupid people create tend to be original. For example, when was the last time someone stupid said something, and made one think about it? It seems that people are always talking about someone elses dumb idea. An example of such an idea would be, How many stories will that english teacher drop before having a stroke? This would suggest that stupid people may have the upper hand when it comes to thinking up original ideas. In fact, the next time someone wants an original idea for something, they should try talking to their local, community stupid person. The reason for this is that while a stupid person thinks with his head, he does not do so an organized manner. This is why they have so much creativity. By thinking in this fashion , their ideas have a natural tendency to flow more easily, without the interruptionswhich occur from the editing of thoughts that logical people would have normally. Thus if someone else should say to one, That was a stupid idea! one should merely look that person straight in the eye, and say, Thank-you! This also means that the claim, Stupid minds think alike. is not true. All stupid minds have different ideas, each idea being original. One of the final advantages of stupidity is that stupid people are always remembered, even after graduation day. It has been noticed how a quiet person is always hard to detect, and often remains anonymous. There is a very good reason for this. The mind has a hard time keeping quiet people in its memory track. But it is much easier and pleasing for the mind to remember someone really stupid. Anyways, when was the last time one laughed at an idiot in ones grade 12 class? When was the last time one laughed at the little kid at the back of the room? Th e evidence here proves how stupid people last longer in someones thoughts. The largest advantage which arises from stupidity is that it takes up 2/3 of DNA storage space, which is excellent for keeping stupidity in the family.Thus, stupidity clearly has many advantages, as long as someone is smart enough to use them! It is important to understand that stupid people are like all other humans physically. Yet, because of the difference between smart and stupid people, smart human beings should give them some breathing space. Teachers can learn that someone graced with stupidity, deserves more respect. After all, they are special.

Free Essays on Domestic Couples

Marriage has persisted as a union between two people. Many people do not readily commit themselves and accept marriage as their option. Domestic partners include unmarried couples- same sex or opposite sex- who live together. American corporations should extend benefits to domestic partners as well as to spouses. For example, if individuals of the same gender marry, wouldn’t they fight for their rights and benefits as citizens? Same sex gender and different sex gender people should all receive the same benefits as eligible citizens. Our society has trained people to think and behave in a synchronized way. Society has always tried to group people together who seem different or who have different beliefs. Therefore, making it very difficult for domestic partners to receive any benefits for themselves and/or for their partners. However, on the other hand if we start to give the domestic partners all benefits in the work place then we are saying to people that it is ok to have domestic relationships because one will receive the same creditable benefits as a married couple would. American corporations should extend benefits to domestic partners and their spouses, just as they would extend benefits to a married couple. Businesses should respond to domestic partners in the same way they would to a regular married couple. How can one distinguish an individual’s benefits from another’s just by knowing if the couple has been legally married or not? Equality between individuals should exist in a working environment. According to Lisa Schiffren, who wrote an article in the New York Times stated that, â€Å"The Government gives tax benefits, inheritance rights and employee benefits only to the married† (258). This statement seems one sided, since it will eliminate more than half of the people. It does not seem fair that one individual cannot get, more or less, the same benefits just because of a marriage issue. However, on t... Free Essays on Domestic Couples Free Essays on Domestic Couples Marriage has persisted as a union between two people. Many people do not readily commit themselves and accept marriage as their option. Domestic partners include unmarried couples- same sex or opposite sex- who live together. American corporations should extend benefits to domestic partners as well as to spouses. For example, if individuals of the same gender marry, wouldn’t they fight for their rights and benefits as citizens? Same sex gender and different sex gender people should all receive the same benefits as eligible citizens. Our society has trained people to think and behave in a synchronized way. Society has always tried to group people together who seem different or who have different beliefs. Therefore, making it very difficult for domestic partners to receive any benefits for themselves and/or for their partners. However, on the other hand if we start to give the domestic partners all benefits in the work place then we are saying to people that it is ok to have domestic relationships because one will receive the same creditable benefits as a married couple would. American corporations should extend benefits to domestic partners and their spouses, just as they would extend benefits to a married couple. Businesses should respond to domestic partners in the same way they would to a regular married couple. How can one distinguish an individual’s benefits from another’s just by knowing if the couple has been legally married or not? Equality between individuals should exist in a working environment. According to Lisa Schiffren, who wrote an article in the New York Times stated that, â€Å"The Government gives tax benefits, inheritance rights and employee benefits only to the married† (258). This statement seems one sided, since it will eliminate more than half of the people. It does not seem fair that one individual cannot get, more or less, the same benefits just because of a marriage issue. However, on t...

Biography of Charles Dickens, English Novelist

Biography of Charles Dickens, English Novelist Charles Dickens (February 7, 1812–June 9, 1870) was a popular English novelist of the Victorian era, and to this day he remains a giant in British literature. Dickens wrote numerous books that are now considered classics, including David Copperfield, Oliver Twist, A Tale of Two Cities, and Great Expectations. Much of his work was inspired by the difficulties he faced in childhood as well as social and economic problems in Victorian Britain. Fast Facts: Charles Dickens Known For: Dickens was the popular author of Oliver Twist, A Christmas Carol, and other classics.Born: February 7, 1812 in Portsea, EnglandParents: Elizabeth and John DickensDied: June 9, 1870 in Higham, EnglandPublished Works: Oliver Twist (1839), A Christmas Carol (1843), David Copperfield (1850), Hard Times (1854), Great Expectations (1861)Spouse: Catherine Hogarth (m. 1836–1870)Children: 10 Early Life Charles Dickens was born on February 7, 1812, in Portsea, England. His father had a job working as a pay clerk for the British Navy, and the Dickens family, by the standards of the day, should have enjoyed a comfortable life. But his fathers spending habits got them into constant financial difficulties. When Charles was 12, his father was sent to debtors prison, and Charles was forced to take a job in a factory that made shoe polish known as blacking. Life in the blacking factory for the bright 12-year-old was an ordeal. He felt humiliated and ashamed, and the year or so he spent sticking labels on jars would be a profound influence on his life. When his father managed to get out of debtors prison, Charles was able to resume his sporadic schooling. However, he was forced to take a job as an office boy at the age of 15. By his late teens, he had learned stenography and landed a job as a reporter in the London courts. By the early 1830s, he was reporting for two London newspapers. Early Career Dickens aspired to break away from newspapers and become an independent writer, and he began writing sketches of life in London. In 1833 he began submitting them to a magazine, The Monthly. He would later recall how he submitted his first manuscript, which he said was dropped stealthily one evening at twilight, with fear and trembling, into a dark letter box, in a dark office, up a dark court in Fleet Street. When the sketch hed written, titled A Dinner at Poplar Walk, appeared in print, Dickens was overjoyed. The sketch appeared with no byline, but soon he began publishing items under the pen name Boz. The witty and insightful articles Dickens wrote became popular, and he was eventually given the chance to collect them in a book. Sketches by Boz first appeared in early 1836, when Dickens had just turned 24. Buoyed by the success of his first book, he married Catherine Hogarth, the daughter of a newspaper editor. He settled into a new life as a family man and an author. Rise to Fame Sketches by Boz was so popular that the publisher commissioned a sequel, which appeared in 1837. Dickens was also approached to write the text to accompany a set of illustrations, and that project turned into his first novel, The Pickwick Papers, which was published in installments from 1836 to 1837. This book was followed by Oliver Twist, which appeared in 1839. Dickens became amazingly productive. Nicholas Nickleby was written in 1839, and The Old Curiosity Shop in 1841. In addition to these novels, Dickens was turning out a steady stream of articles for magazines. His work was incredibly popular. Dickens was able to create remarkable characters, and his writing often combined comic touches with tragic elements. His empathy for working people and for those caught in unfortunate circumstances made readers feel a bond with him. As his novels appeared in serial form, the reading public was often gripped with anticipation. The popularity of Dickens spread to America, and there were stories told about how Americans would greet British ships at the docks in New York to find out what had happened next in Dickens latest novel. Visit to America Capitalizing on his international fame, Dickens visited the United States in 1842 when he was 30 years old. The American public was eager to greet him, and he was treated to banquets and celebrations during his travels. In New England, Dickens visited the factories of Lowell, Massachusetts, and in New York City he was taken to the see the Five Points, the notorious and dangerous slum on the Lower East Side. There was talk of him visiting the South, but as he was horrified by the idea of slavery he never went south of Virginia. Upon returning to England, Dickens wrote an account of his American travels which offended many Americans. A Christmas Carol In 1842, Dickens wrote another novel, Barnaby Rudge. The following year, while writing the novel Martin Chuzzlewit, Dickens visited the industrial city of Manchester, England. He addressed a gathering of workers, and later he took a long walk and began to think about writing a Christmas book that would be a protest against the profound economic inequality he saw in Victorian England. Dickens published A Christmas Carol in December 1843, and it became one of his most enduring works. Dickens traveled around Europe during the mid-1840s. After returning to England, he published five new novels: Dombey and Son, David Copperfield, Bleak House, Hard Times, and Little Dorrit. By the late 1850s, Dickens was spending more time giving public readings. His income was enormous, but so were his expenses, and he often feared he would be plunged back into the sort of poverty he had known as a child. Later Life Epics/Getty Images Charles Dickens, in middle age, appeared to be on top of the world. He was able to travel as he wished, and he spent summers in Italy. In the late 1850s, he purchased a mansion, Gads Hill, which he had first seen and admired as a child. Despite his worldly success, though, Dickens was beset by problems. He and his wife had a large family of 10 children, but the marriage was often troubled. In 1858, a personal crisis turned into a public scandal when Dickens left his wife and apparently began a secretive affair with actress Ellen Nelly Ternan, who was only 19 years old. Rumors about his private life spread. Against the advice of friends, Dickens wrote a letter defending himself, which was printed in newspapers in New York and London. For the last 10 years of his life, Dickens was often estranged from his children, and his relationships with old friends suffered. Though he hadnt enjoyed his tour of America in 1842, Dickens returned in late 1867. He was again welcomed warmly, and large crowds flocked to his public appearances. He toured the East Coast of the United States for five months. He returned to England exhausted, yet continued to embark on more reading tours. Though his health was failing, the tours were lucrative, and he pushed himself to keep appearing onstage. Death Dickens planned a new novel for publication in serial form. The Mystery of Edwin Drood began appearing in April 1870. On June 8, 1870, Dickens spent the afternoon working on the novel before suffering a stroke at dinner. He died the next day. The funeral for Dickens was modest, and praised, according to a New York Times article, as being in keeping with the democratic spirit of the age. Dickens was accorded a high honor, however, as he was buried in the Poets Corner of Westminster Abbey, near other literary figures such as Geoffrey Chaucer, Edmund Spenser, and Dr. Samuel Johnson. Legacy The importance of Charles Dickens in English literature remains enormous. His books have never gone out of print, and they are widely read to this day. As the works lend themselves to dramatic interpretation, numerous plays, television programs, and feature films based on them continue to appear. Sources Kaplan, Fred. Dickens: a Biography. Johns Hopkins University Press, 1998.Tomalin, Claire. Charles Dickens: a Life. Penguin Press, 2012.

Compensation Essay Example | Topics and Well Written Essays - 500 words

Compensation - Essay Example These wages are augmented by bonuses that are commensurate with the contributions the employee makes to specific projects or even their own entrepreneurial developments (â€Å"Facebook beats google†, 2012). The best fit and best practice approaches constitute different perspectives. The best fit approaches argues that compensation pay should be aligned with the organization’s strategy and values. The challenge these becomes finding the ‘best-fit’ between the strategic approach and compensation. These practices are contrasted with ‘best practice’ approach that argue there need not be a best fit between strategy and approach, but instead a universal approach to compensation in the organization. A customer service-agent that manages issues that arise between buyers and sellers at the online marketplace Half.com. These management practices occur over the telephone and through e-mail. Notably, there are over 2,000 emails a day to sort through. It is indicated that this information does not become tedious as the emails are of constantly different varieties. In terms of further information needed, it is necessary to consider what occurs when the issue cannot be resolved, as well as the extent that the employee is under pressure from Half.com to determine a best fit solution. 5. The compensable factors in paying my boss more than me are that he has a higher knowledge set and deeper managerial experience. This increases his organizational value as he is able to oversee crucial aspects or operational difficulties. This is further understood in terms of organizational contributions. While it is possible for the lower tier workers to make tangible contributions to organizational value, compensation is on a best fit spectrum so that the higher the individual is on organizational spectrum, the higher their value is the organization. This results in the higher compensation

Fundamental of finance Article Example | Topics and Well Written Essays - 2250 words

Fundamental of finance - Article Example This portfolio is best suited for Top Choice as they are high risk takers. The investment will yield an average return of (31.6% of ' 2,000,000) ' 632,000 with a standard deviation of (7.14% of ' 2,000,000) ' 142,800. This indicates that the return will be in the range of (' 632,000 - ' 142,800) and (' 632,000 + ' 142,800), i.e., ' 489,200 and ' 774,800 respectively. A company can be financed by a number of different modes. The type of capital financing that has been chosen for the company is referred to as the capital structure of the company. A company can be financed using debentures, equity shares, long term loans, etc. These options however are based on the nature of risk the investors are willing to take. The following sections will discuss the various financing options that are available for investors to finance their companies and the factors that affect the choice have also been discussed. a) Equity Financing: This is the most common mode of financing used by companies. Here companies raise monies for the business by selling stocks of the company. These can either be preferred or common stock and can be sold both to individuals as well as investors. This is also referred to as the share capital of the company. These stocks provide the buyers with an ownership in the company. This is perceived to be 'easy money' as it does not involve any debt. Here the company does not require repaying the amount to the investors, as long as the business makes profits. Equity financing is best suited for people who are risk takers (J Ogilvie & B Koch 2002). b) Debt Financing: This type of financing is when a company borrows money from other sources like banks, etc, under an agreement to pay back within a fixed amount of time. Here the lenders do not get any ownership of the business and the relationship remains active until all the monies are paid back. This can be of two main types a) short term financing, where loans taken are for a period less than one year. These are mostly taken by people who are willing to take risks. b) Long term financing is when loans are taken for period higher

The Music Industry Essay Example for Free

The Music Industry Essay In this essay I will be discussing the four main areas of the music industry; I hope to gain knowledge about them and how they connect to one another so I can better myself overall as a musician. Record Labels: Record Labels are brands that are responsible for marketing the music recordings and music videos of bands/artists; there are two types of record labels, major and independent. There are only 3 major record labels left which are Universal Music Group, Warner Music Group and Sony Music Group, a record label is classed major when it has more than 5% market share. Major Record Labels There are many pros to signing to a major record label and the most obvious and perhaps most important one is that these big companies have a lot of money, this means they will be spending more money promoting your record, which means a higher chance of sales and popularity. Having more cash available also means they will invest a lot in touring, recording and music videos which will all benefit your career in a band or as a solo artist. Although the pros of signing a major record deal sounds incredibly rewarding, there is a few downsides which may cause a band/artist to be put off. Firstly, signing to a major record company won’t always last as long as the artist wants it to; if your major label is paying a lot of money to promote you they will not keep you signed if you are not selling records to return the output of money back into their pockets. A lot of the time they will sign a lot of acts just to see what ones are popular and will make money, resulting in the unpopular acts being dropped. Furthermore, things like artist unfriendly deals which leave the artist earning a lot less money than the label and not having full creative control of material are all disadvantages which could leave an artist or band seeking a better deal from in an independent label. 1 Independent Record Labels An independent record label is a label not associated with the big three major labels, a lot of artists start their career on independent labels. One pro of an independent label is that they love your music; this means they will be working harder with you, this also means you will have close working  relationships with the label due to smaller staff and a smaller roster which means you can contact your label easier and ask them questions. Also independent labels have artist friendly deals, you will have more creative control and independent labels are unlikely to contract you to multi album deals. Independent labels also have a few cons and the main one being money, which was the main pro of a major label. With less money available this will mean you won’t have large recording budgets, huge promotion deals and things like tour support, you will have to support yourself financially which is why a lot of artists would prefer a major record deal. Along with a shortage of money, other cons of indie labels include size which means less purchasing power and also disorganisation. 2 Overall I believe the best type of record label depends on preference, if an artist is seeking fame and fortune a major label deal would be best for them as more money would be available to them and they would be promoted and better known. If an artist felt strongly about the music they wrote and wanted to have full creative control an independent label would be best for them. How do I get signed? If you want to get signed to a record label you can start by sending in your demo to the AR department and then things can advance from there if they like what they hear. Record labels have separate department that help find and sign artists which is AR, they help find artists by listening to demos, going to gigs and watching recordings of bands to find talent, they would contact the artist and tell them how they would develop them as an artist. Furthermore, they find the right songs for the artist, make sure they work with the right producer and find the right studio; AR are also the department that handles contract negotiations. As an AR person you must understand what music is current and what can become popular, this is an important job and you must have a good ear as this person bridges the gap between record labels and artists and can be the person responsible for signing the next big thing. If you want to get signed to a record label you can start by sending in your demo to th e AR department and then things can advance from there if they like what they hear. i What can record labels offer you? Recording studios are also another thing that comes with a signing a record  deal, perks of a recording studio includes top of the range equipment and rooms with excellent acoustics to give your band a better sound when recording, you will also have a well-trained sound engineer to mix and produce your song, however these can be expensive and leave you with less money for things like touring. I believe recording your music in a studio will also give it a better sound which means it will also be more likely to sell. Record labels will also help you distribute your material, Retail is selling your music by physical sales or through the internet, you can sell songs and albums for digital download over the internet on multiple platforms such as iTunes or amazon, once a song is bought a percentage goes to the retailer and the rest to the artist and label. Selling your music on CD is distributed slightly different, labels will discuss with the retailer how many copies they want to order and once an amount has been agreed the cd’s will be shipped then sold. Overall I believe selling your music for digital purchase is better as internet sales are becoming very popular as people can download songs straight to their phones, also you make less of a loss if your songs don’t sell on iTunes or amazon etc. as you haven’t had to pay for CD printing.ii Music Publishing: A music publisher or music publishing company is in charge of making sure songwriters and composers receive their royalty payments when their compositions are used commercially.3 They will also help distribute and promote music that is created, license songs to record companies and copyright songs and compositions, their job is to promote and protect songs and compositions. Finding songwriters and composers in a music publishing company is also handled by AR, songwriters and composers can be found on YouTube, Twitter, Facebook and other social media sites; furthermore there are traditional methods like going to gigs to find songwriters and composers. 4 Promotion One of the most important jobs to a music publisher is promoting songs, this means getting the songs to be used in ways that earn money. They can talk to music supervisors to get songs played in films, TV shows and advertisements which can bring in a lot of money due to synchronisation rights and royalties. 5 Publishers will have a network of contacts that they can  promote to and then negotiate a license with. They can also make deals with musicians that want to use songs their clients have written/composes. It is very important that a music publisher or music publishing company promotes well because getting your music heard and recognised can be the forefront to your success. Copyright management Copyright means protecting material and allowing composers to be paid for their work, if something is copyrighted it means the creators of the material are in charge of it and can decide who uses their work and what circumstances it is used in. In a song the musical work and lyrics are both protected, to copyright something it has to be original and not copied; it must be recorded on paper or on CD. It is important a music publisher copyrights their songwriters/composers material otherwise it can be copied by other people and they will not be able to prosecute in court without copyright. 6 Performing rights Performing rights are the right to perform songs in a public place; it is part of copyright law and means the composer/songwriter and publisher will be paid, the royalties would be split 50/50. Performance rights mean a group who are not copyright holders are performing a piece of music publicly, performances are considered public if they are in a public place such as a nightclub, restaurant or at a concert. This is another reason why it is important for a music publishing company to copyright their client’s music, so they can claim royalties and money can be made from their material. Live performance: Live performance includes things like gigs and festivals, I will be discussing some of the roles that make a live performance and how they work. Promoting a Live Performance The main thing that completes a live performance is people, without people turning up to your live performance you will fail to create an atmosphere and most importantly not make any money back from the high costs of renting a venue hiring staff etc. So to get people to come along to your event/performance you need to promote. Promoting techniques you can use  include printing off posters and posting them everywhere you can, ask small shops if you can put them in the windows or even stick them to lampposts. However you need a good eye catching poster otherwise it will go unnoticed. Other ways to promote include promoting your event on social networking like Facebook and Twitter, you can create an event and invite as many people as you like; people are likely to see this as a lot of people have their phones on them all the time and will receive a notification when invited7. Online and physical ways of promoting can both be effective when done right, but if you want a large amount of people to notice your event and consider coming you need to do both online and physical promotion. Setting up a live performance To set up for a live performance you need to start by gathering some equipment. It is advisable you go and take a look at the venue a few weeks before the show day so you can see what equipment needs to be brought along, things to look out for include seeing if the venue has a PA, if not you may want to hire or invest in one; if you are hosting the event at your own venue it is worth buying your own PA to save money in the long term. Other things include staging space, make sure there is ample floor space for the performers to stand and you may want to bring a stage/drum riser if there aren’t any there already. Lighting can also be important in bringing atmosphere to a performance. Finally, you will at least a handful of staff on the night such as security, stagehands and a sound engineer. 8When hosting an event you may want to choose for more expensive equipment whilst saving money on staff, good equipment will improve sound and experience meaning people will want to come aga in; but you can get away with hiring people for not much at all as people are happy to get into a free show and help. Health and safety Health and safety precautions at a live performance are incredibly important, start by making sure there is a person in charge of first aid as this is also the law; people are likely to get hurt in a crowd of people by tripping up or bumping into people. Secondly, when sorting and setting up electrical equipment you need to make sure wires are not across the stage in the air as this could cause a trip hazard for performers and also make sure there are no trip hazards in the crowd standing space also. Another precaution to take is making sure staging is secured properly; if heavy staging equipment is not put together correctly accidents could happen causing big injuries which could mean you not being able to host events again. A final thing to take into consideration is noise level, when hosting a live event you are granted a license with rules of decibel level and if you exceed this level you would not be granted another license so another live performance would not be possible. I believe taking all of these health and safety precautions is fundamental to looking after everyone at a venue and will mean things can run smoothly without any inconvenience. 9 Tour and event management An event manger means you will be in charge of a number of jobs, firstly you’ll need to find your venue that is suitable to your event; and then you need to book your acts. After you have sorted this you need to check health and safety is okay and then make sure the night runs smoothly. An event manager is an important role in making sure a live performance goes to plan, the audience may not notice the hard work of an event manager but if it wasn’t for them there would be no show. A tour manager is slightly different; they are in charge of booking venues as well as hotels and what crews are in charge of health and safety, security etc. I believe that tour and event management plays a huge part to live performance and makes things tick, without tour and event managers everything would be unorganised and would not go smoothly. Front of house and Backstage Starting with front of house, this includes a wide range of jobs such as door staff; these can be security or people that accept tickets. People at food stalls or bars are also included, these people are important as they can keep the audience refreshed with drinks and food. Front of house staff can be important as they are what the audience see so they need to be calm and relaxed so things run according to plan and not to distress anyone at the venue. Backstage staff covers a few more roles, they include the sound engineer who controls the levels and quality of the band’s sound to put on a good sounding performance for the crowd, secondly there are instrument technicians for drums, bass, guitar so if any instruments fail in any way they are there to fix it or provide a new instrument e.g. backup  guitar/bass. Other roles include a lighting technician to give the performance visual effect and also a pyro-technician who is in charge of any fireworks or fire during the performance. Backstage managers will make sure acts are ready to go on stage at the correct time; roadies are in charge of moving and packing equipment away for the end of the set or for the next act. Backstage staffs are just as important as the acts themselves, this job needs to be done effectively and communication is key otherwise things could fall apart very quickly. Performance rights When hosting a live performance you need to make sure you are licensed to play music, you must have the correct copyright licenses, having these is a legal requirement. PRS collects royalties for songwriters, publishers and composers and PPL collects royalties for performers and musicians. You also need public liability insurance, and if any DJ’s are performing they will need a ProDub licence; this is needed for when a DJ is transferring music from a vinyl, CD etc. to a digital format. If they do not have this license you may face fines or legal prosecution. Artist management Business and Tour managers Business managers are in charge of all the money to do with the artist, they are usually accountants that have experience with musicians, day to day managers can also take care of finances but they usually have a lot more things to do so it is helpful to have a business manager for this. A tour manager takes care of booking venues, hotels, flights and things like selecting a tour bus etc. Tour managers are important because they get the artist/band from one place to another and make sure things run smoothly, a good tour manager needs to be organised so the band makes it on time to gigs, interviews and recordings. Having managers can be very helpful to an artist; however they will need to be paid so it’s important to decide what mangers you definitely need. 10 Artist and managers rights In the music industry artist and managers rights must be abided by, otherwise you could be brought to court; artist rights include being paid their royalties due to copyright, these are usually songs played on the radio/television etc. Manager’s rights are slightly different they include  being paid fairly and that all contract terms are kept to, if they aren’t it means the manager can terminate the contract at any time. I believe it is very important managers and artists rights are abided by because you may end up in court if contract terms are breached. Sponsorship Sponsorship does not always mean getting free stuff from the company that is sponsoring you, it means when two businesses come together to benefit from the association of one another. Sponsorship deals can be gained by the artist’s manager, it can mean money is offered to an artist and in the return the artist will wear, promote the brand. This is a very good way for an artist to earn income; it also makes artists/bands noticed. Endorsement is slightly different as it means artists can use the companies gear, this is good as it opens the company to a lot of fans and allows the artist to use top of the range equipment. I think sponsorship deals are good as they benefit both parties and can allow a lot of income to the artist and company. Merchandise Merchandise can include clothing, CDs and stickers. The merchandise should include a creative logo that goes with the name of the band, stickers are useful as they can be stuck anywhere and promote your band. Merchandise can be sold after shows and also online which is useful if people cannot get to them at a show, selling merchandise is a great way to make money as people will pay high prices to own a t shirt with their favourite bands name and logo on it. It’s also a good promotion technique, if people are walking the streets with your band name on their t shirt soon your bands name will become familiar to people and they will tempted to listen to your music. However, you need to make sure your designs are effective and not offensive because bad merchandise may put people off of your music. Merchandising is a very popular and important way of earning money and getting your band noticed, I believe it is a very good way to help an artist/band’s success. In this essay I have talked about and explained the four areas of the music industry, I have gained knowledge which will benefit my career as a musician, with this knowledge I now have an understanding about various careers in the music industry also.