Islamic Banking Deposits and Profitability Relationship

Islamic Banking Deposits and Profitability Relationship The motivation behind this exploration study is to break down the effect of Islamic Banking Deposits (Investment, Savings and Current records) on the gainfulness measure ROE of the Islamic financial industry in Paksitan. For this reason, time arrangement information of eleven quarters covering the period 2007 to 2009 is taken for the necessary factors from State Bank of Pakistans quarterly releases of the Islamic financial announcement. The outcomes demonstrated that all the store factors had a huge positive connection with the gainfulness of Islamic banks. The point is to add to the writing on store gainfulness relationship of Islamic banks. Islamic banking is a financial movement dependent on Islamic standards, which don't permit the paying and getting of premium (riba) and advances benefit partaking in the direct of banking business. (Ghazali, 2008). As per the most recent quarterly version of State Bank of Pakistans Islamic Banking Bulletin?, the all out Shariah-agreeable resources worldwide have developed to about US$ 700 billion â€Å" with yearly development surpassing 10.0 percent during the previous decade and are anticipated to develop to US$ 1.6 trillion by 2012. State Bank of Pakistans vital arrangement for Islamic financial industry propelled in 2008, intends to expand the size of the Islamic financial industry to 12.0 percent (of complete financial resources) by 2012. Islamic money related organizations don't just assume a fundamental job in asset activation, asset portion and work but on the other hand are effectively engaged with the course of executing government fiscal approach. Aside from offering about all conventional financial offices, Islamic banks additionally help residential and universal exchanges. Seeing the capability of the Islamic market, western traditional based budgetary organizations, for example, Citibank, JP Morgan, Deutsche Bank, ABN Amro and American Express have acquainted premium free items with clients. So also, global enterprises, for example, General Motors, IBM and Dewoo Corporation have just started to utilize intrigue free services.(Haron and Azmi, 2003). Studies that survey the impact of different components that decide Islamic banks productivity are still at beginning stage. Not many endeavors have up till now been made to exactly examine the Islamic banks execution. In the Islamic financial writing, crafted by Haron (1996a) was the primary endeavor to inspect factors that contributed towards Islamic banks gainfulness. A large portion of the examination utilized various relapse investigation method in estimating the relationship among the deciding components and productivity proportions. Expanding the past work in Islamic banks execution, this paper looks at the quality of connection between store factors and gainfulness of Islamic banks utilizing univariate relapse approach. By considering the relationship between Islamic banksÃ¥ ¸ execution and the store factors, this paper adds to the on-going conversation on the stores and productivity relationship of Islamic banks. The paper is partitioned into seven segments. The writing survey on determinants of Islamic bank execution is featured in Section 2. Area 3 inspects the technique utilized in breaking down the connection between the stores factors utilized in this investigation and the exhibition of Islamic banks. Area 4 presents the conversation and suggestion. The references are recorded in segment 5. The tables are recorded in segment 6 and figures in segment 7. Writing Review The entire establishment of Islamic Finance is that the different sides of the condition (for example the store suppliers and the reserve clients) work in understanding as accomplices, without investors being guaranteed of any arrival from the individuals who utilize their cash. By and by, Islamic banks draw roughly 75% of the capital from their investors, and don't ensure any exact degree of come back to these store suppliers. (Shubber and Alzafri,2008). Ghafoor (1995) states that every single Islamic bank have three sorts of store accounts: current, reserve funds and venture. Current or request store accounts are nearly equivalent to in every single regular bank. Store is guaranteed. Reserve funds store accounts work in various manners. In certain banks, the investors grant the banks to utilize their cash yet they achieve an assurance of being taken care of the total sum from the bank. Banks embrace various strategies for initiating their clients to store with them, yet benefit isn't guaranteed. In others, bank accounts are treated as speculation accounts however with less exacting conditions as to withdrawals and least parity. Capital isn't guaranteed yet the banks take care to put capital from such records in decently hazard free transient activities. Along these lines, lower benefit rates are normal and that excessively just on an area of the normal least equalization on the ground that a significant level of hold subsidizes shou ld be kept consistently to satisfy up withdrawal needs. Contrastingly, Investment stores are acknowledged for a foreordained or inconclusive timeframe and the financial specialists agree ahead of time to share the benefit (or misfortune) in a concurred extent with the bank. Capital isn't guaranteed. (Ghafoor, 1995). Some IFIs (Islamic Financial Institutions) group stores as far as wadiah or amanah. Current records of IFIs are viewed as qard hasan or qard (then again, as wadiah/amanah). (Farooq, 2008). Qard al-Hasana is characterized as stores whose full reimbursement on request is ensured by bank. (Ahmad, 1994). The stores in the present record are viewed as though they are credits from the clients to the bank and thusly, bear no respect the record holders.? (Al-Jarhi and Iqbal. 2001). Store accounts are neither an obligation nor value capital. They are a half and half? wellspring of capital, and must be recognized in that capacity. Investors are accomplices with the bank, yet appreciate no possession rights. (Shubber and Alzafri,2008). Sudin Haron (1996) makes reference to that the law permits the banks to acknowledge two kinds of stores, i.e., qard al-hasanah stores and term venture stores. The qard al-hasanah stores incorporates current just as investment accounts which change in their operational principles. (Ahmad, 1994). On the off chance that it is permitted that the borrower can pay additional cash willfully, at that point regarding stores as qard-hasan permits the banks as the borrowers to pay additional cash to the investors (moneylenders). Not at all like investment account administrations at traditional banks, where investors are consequently endless supply of their assets, comes back to investment account holders are dependent on the Shariah (Islamic laws) standards which are rehearsed by Islamic banks when offering this administration. When wadiah (trusteeship) or qard hassan (considerate advance) are utilized, the profits are altogether at the carefulness of the banks. (Sudin Haron, 1996). Nienhaus, (2004) contends that if the clients of Islamic banks want an arrival on their assets, they should pay into venture accounts (likewise called support records or PLS, benefit and misfortune sharing records). Though, credit adjusts on these records are not viewed as stores in the regular sense. The profits on Islamic banks venture accounts are not fixed ahead of time; the clients take an interest by a specific extent in the budgetary result of the use of their speculation assets by the bank. These outcomes could likewise bring about a misfortune. If there should arise an occurrence of misfortune, the customers should bear a part of the misfortune which would lessen the ostensible estimation of the credit adjusts of their separate speculation accounts. In such a circumstance, the customers can't guarantee a full repayment of the cash paid in. The full repayment, be that as it may, is constituent for a store in the severe sense. (Nienhaus, 2004). Rosly and Zaini, (2008) state that people in general when all is said in done place their cash in banks for either satisfying value-based requirements or for speculation needs. To get the job done the value-based target, Islamic banks offer administrations, for example, wadiah yad dhamanah store, which encourages protection of their store cash with ensure administrations. In this item, investors no longer store assets to get a fixed salary. Rather, they place their stores for protection.'Wadiah yad dhamanah implies care with ensure. Wadiah yad dhamanah contributors grant the Islamic bank to put their cash as an end-result of store security that they got for nothing. Since the overseer administration is given without a charge, the Islamic bank holds no legitimate impulse to pay investors a foreordained return and may do so just on deliberate premise. Along these lines, the bank holds decision on benefit appropriation approach as blessing (hibah). The equivalent isn't right for Islamic fixed stores, oftentimes known as mudarabah venture stores. In this association organization, no assurance is given to capital security and fixed salary, as it runs under value guideline. It is a dubious item as the fundamental agreement depends on profitâ€Å"loss sharing framework. Benefits are shared distinctly if there should arise an occurrence of performing speculations, while capital may devalue or even therapist if the venture finishes in misfortunes. (Rosly and Zaini, 2008). Haron and Azmi, (2004) examine that like traditional banks, Islamic banks likewise depend on contributors cash as a key wellspring of reserve. Bank Muamalat Malaysia Berhad for instance, had all out stores adding up to 94 percent of all out liabilities and investors value toward the finish of December 2003. While on account of Jordan Islamic Bank, Islamic Bank of Bangladesh, Bank Muamalat of Indonesia, and Bank Shariah Mandiri of Indonesia, the comparing sums were 94%, 86%, 76%, and 79%, individually. These figures uncover the huge high aggregate of the investors cash as a flexibly of money for Islamic banks. Thus, it gets irreplaceable for the administration of Islamic banks to distinguish the elements that are destined to persuade clients dynamic in keeping their capital with Islamic banks.

Marketing Mix and Product Life Cycle Coursework

Showcasing Mix and Product Life Cycle - Coursework Example From this conversation obviously the purified goat milk displays unrivaled market blend attributes. Initially, the item addresses consumers’ issues. American residences need dairy items with low immersed fat, high calcium content and less hypersensitivities on their youngsters; goat milk fulfill all these purchaser requests. Furthermore, dairy shops and nearby accommodation stores are perfect spots where shoppers can buy purified goat milk. As for value, a liter of sanitized objective milk retail at $3.75; subsequently the item is pixie moderate. In arriving at shoppers all things considered, web-based social networking stages like Facebook is the fundamental apparatus for advancement and publicizing of the goat milk item. In fact, the item displays a solid market blend profile.This study talks about thatâ the showcase blend components of item quality, evaluating, advancement, and deals place offers an incredible and successful impact on advertising status of the sanitized go at milk. Along these lines, moderate evaluating, deals at neighborhood accommodation stores, and advancement through web based life channels will stay as the fundamental advertising procedure for the item. Be that as it may, explicit alterations should be made, especially on parts of individuals and advertising process. A best specialty advertise for the purified goat milk involve generally guardians and the old. Sadly, most guardians and old residents are not dynamic on advertising stages like informal community destinations.

BandPage

BandPage INTRODUCTIONMartin: Hi, today we are in San Francisco in the BandPage office or almost. Hi J, who are you and what do you do?J: I am J Sider and I am the CEO and founder of BandPage.Martin: Awesome. When did you come up with the business idea?J: It is a bit of a long story. I grew up as a musician and I was playing and singing music when I was a kid and that kind of led me into wanting to have a career into the music business. And so I started managing bands and venues around the country and then after many years of doing that I just realized that there is a lack of efficiency in the business model in the music industry as well as the technology that was being used and so I moved out here in San Francisco to solve these problems in 2009 and then launched the company in 2010.Martin: OK, cool. So when you came here to San Francisco what happened to be your first steps so that you just build a website or did you drop to investors. What did you do?J: The first step for meâ€" I didn’t k now anybody around here. I just knew that if I wanted to build an app or a platform that this was the best city in the worlds to be in and it has the highest population density of engineers and designers and entrepreneurs and investors, and so as they say fish where the fish are.I came out here for the sole purpose of just getting involved in the community. I think there are a lot of ways that you can start a business. There is a lot of ways of getting it started, but the way I started it and I think the way you have a lot of leverage as an entrepreneur is if you start with a small team.So I came out here late 2009 and started searching, every night I went out and every night at San Francisco there are conferences and tech and startup meetups. Every night you can go out and meet people so I did that for a couple of months and I talk to, I am sure, over a thousand people to try to get introduced to the right people that will be interested in the idea. And so my first step was to find one engineer and one designer that would work with me out of my living room to get the idea, build it and put it online.Martin: How did you convince them?J: It is not an easy thing. I think the most important thing when you are starting. There are lots of many important things but one of the most important things for me was simply being resourceful and driven. Finally, when I did find the right people to join me I realistically and probably talked to close to a 1000 people about it and some of those people were interested and started working with me and stopped and others worked a little bit longer and then it didn’t quite work out and then finally I found these individuals. And the way we did it was set up in a structure similar to some other startups around this area which is it is a small team that starts and we all work with equity and you believe in the division and all get behind it. And if you are lined on what you want to build you believe you are joining a team that can build it and incentivized through equity. That is how we did it and I think it aligns everybody on the early team to be able to have a go at it.Martin: So once you have developed your MVP of the BandPage what type of traction did you gain in order to find some investors?J: When I first moved here I talked to everybody, yes designers and engineers and folks but also investors and other entrepreneurs to really try to get to know a lot of people. And so after we had launched the product, if you can get a team, a small team and start building something and launch it you have far more leverage than you do if you go to investors before that point. If you go with a wire frame and idea versus you already have a product and traction you have more leverage and you could give up less of the company for more funding.We launched the product, we had really strong market fit so it took off pretty quickly. When we had a couple hundred bands sign up and then a couple of thousand artist sign up and s o at that point investors saw that we had created product that was creating a lot of value for our customers and so they are interested in being involved in this. So one of the things I did to really help us is I got to know this guy Larry Marcus and he is a managing director of Walden Venture Capital and just a brilliant guy, especially he has a lot of connections in the music industry. His name is in Billboards’ 100 most powerful people as well as in general Walden tech investor. And so I worked very, very hard to get him involved. Once I did that, he helped introduce us to other people.So one of the first things I tell entrepreneurs is when you land in a city and you start to build your startup make sure as quickly as possible to find advisors that you can put around the company. As powerful as you can find at different levels as you are building the company, you will be able to get more and more powerful and you need people around your company. You just kind of look out whenev er can you find the most influential or powerful person that you can and try to get them involved. As you continue to build the company you find even more powerful and influential people that can help because it really makes a difference and in this case with Larry Marcus it was probably the sole reason we put together a seed ground funding. And then he has continued to be just incredibly powerful and helpful and just build this business.Martin: Good.BUSINESS MODEL OF BANDPAGEMartin: J, let’s talk about the business model of BandPage. What is it all about? What type of value proposition do you deliver to what type of customer segment?J: Our main goal as a business is we help musicians reach and monetize their customers in the most cost effective way you could reach revenue. We look at musicians, their business and they have a product to sell to their customer. The clear service that we provide is helping that business sell their products â€" tickets, merchandise, VIP offers and di stribute those up to their customers where the customers are most likely to buy those products. And when the customers buy one of those products we take a 10 percent cut of that sale and so we have half a million musicians on the platform now. We distribute and display those musicians’ content and commerce to hundreds and millions of fans across most of the major streaming platforms today.Martin: Does this also mean that you only display the content on your platform or website but also on other media like YouTube and so on?J: Yes. Actually the whole point of what we do is to help the business musicians reach their customers wherever they are. If you think about yourself as a fan where you are spending your time these days with musicians, it is probably not on their website of Facebook page anymore. You are probably spending a lot more time on streaming services listening to music and interacting with them there. And so instead of us being a destination to tell you have another pla ce for bands to tell their fans to go we are truly a B2B, B2B2C if you will where we help the businesses reach their customers on the streaming services. There is now one billion a day active users across streaming services and we are just about the only way for every musician in the world to reach the customers on those platforms.Martin: And do you also have a way, unless you are in the Silicon Valley so many big data machinery startups. Are you also offering a way of matching the supply and demand in the meaning of the musicians and the customers in a more efficient way based on pattern recognition or something like that?J: Yes, absolutely so especially in the music business we really have this incredible opportunity that is happening right now where for the first time ever as a musician as a business you can truly segment and understand your customer based on their listening behavior or behavioral data. If you would listen to an artist 157 times versus listen to another artist 7 times there is a clear statisticly significance percentage likelihood that you would buy a ticket or a piece of merchandise or something to the artist, you listen to 157 times versus 7.And so we start to understand that data, the behavioral data and apply a kind of qualify and quantify the percentage likelihood that you would buy something from this artist versus another one and then match it up in that way. And so today we are now sending over 1.5 million fans to musician source every month and that is growing rapidly. We are the first company in the music industry to take listening data where we apply very large data machine learning algorithm to it to understand the likelihood that this individual is going to be interested in x type of content and or commerce from that artist.Martin: And every customer needs to be logged in before looking at the content or is It anybody can look at the website and maybe you don’t even know who he is because you only got some browser fingerprint ?J: We are distributing that to the streaming services, and we are partnering with the streaming services to analyze the data on their platform. So we do that as a service for the streaming services and then crunch the data, attach the offer from one of the 500,000 artists send it back and display it on the streaming service.The future of the music business is truly going to be just an amazing experience for the fans where everything you are interested in will basically just be delivered to you. As we see you start to listen to more and more artists or more and more of this particular artist and we can personalize the experience to you, you will automatically be notified of your favorite artist or the type of things you like to buy or the ways you like to interact with the artist. And it really shouldn’t be spending at all because we should be able to see and understand, “Hey, you like buying tickets, but every time we have displayed a t-shirt to you, you never buy that so we st op”. We pull back on that substituting those things for you.Martin: And when you look at the revenue streams for the musician, can you provide us a little bit of insight of the revenue split so for example digital goods or offline stuff that is merchandising, tickets, events whatever?J: Yes, absolutely. Over the years there has been a major shift in the music business where the main product that musicians as a business sold was music, was records, CDs and downloads. But that has dropped by billions and billions of dollars in our industry. So it has shifted heavily over to tickets and merchandise and VIP experiences and the bulk of the musicians’ career now is coming from touring and merchandising and VIP experiences.Martin: Are you organizing or have you ever had the thought of organizing some kind of collaborative concerts and because if you know what type of individuals are loving what type of music then maybe you can even combine some kind of 5 to 10 musicians where have some kind of overlap for maximizing of the people that show up and are willing to pay?J: Absolutely. We are at the very beginning of what using this data and what this data can mean for our industry. Just like that there are going to be incredible new innovations that come from this including that where you wouldn’t normally see a country artist open for a hip-hop artist but there is a ninety percent overlap for people in Dayton, Ohio that are happy to love these two artists and you can sell out a bigger show if you book both of them than separately. So that is a great example of things to come and it will definitely be happening in the future.Martin: What other cool stuff can you imagine just based on the really understanding the music preferences?J: Frankly, I believe the entire industry should run on this infrastructure and I mean with any industry. The more data and better understanding you have about your customers the more you can personalize the experience, the better products you can deliver to them and the more insight you have from your customers the better you can run your business.Understanding the likelihood that certain fans are going to like an artist coming to this town versus that town, you will be able to do these collaborative shows. You will be able to, if you are one of the biggest fans of a particular artist, the artist could happen to show up at your screen and do a private show for you and a couple of others. On the industry side the more you can understand the trends â€" what genre is being listened to, how is an artist rising and breaking, it is incredibly powerful and useful tool for managers to find new talent. If I am a manager and I like hip-hop I can use this to understand who are the up and coming artists instead of trying to just take it from a gut level, that is what a lot of managers and labels have done in the past. They just hear it and they believe it is good and they will use Facebook likes or they will use these different things to show, the blogs, to show that things are happening but there is no true source than people actually using a product and the musicians’ music listening to whatever trend is based on people actually consuming that.So, I think it is going to be not just on the consumer side having you two favorite artists, two completely different genres play together but also the tools /the data that will direct our entire industry to improve our business.Martin: I think the really interesting point for you will be to really focus and not be too diluted because there are so many opportunities that you could do and deliver some sort of service. For example if I am just thinking about helping or doing some crowd financing of artist just based on pattern analysis. You can do this, but you can also do perhaps finding some sponsors. Ok you can do that. There are so many different things that you could do, but keeping really focus seems to be an issue.J: Yes, that is the number one, actually not number one but it is a very well-known reason why companies fail. It is because they try to do too much. So we focus very clearly on one thing which is helping this business take their products and reach and sell to their customers in the most cost effective way and increase revenue. That’s it.Now, as the industry grows and as our platform continues to grow we can open up into some select new opportunities but like you say focus is one of the things that we are best at doing.Martin: J, before you said that you are taking 10 percent off the revenue that you are helping the artist with. Is there any other type of revenue source involved or is this independent if it is merchandise, soundtracks, tickets, whatever, everybody is 10 percent?J: Everything is 10 present. It is a 36 billion-dollar industry right now for those things: tickets, merchant and VIP experiences.Martin: Worldwide or US?J: Worldwide. And that is going to grow in an incredible amount because of some of the things we have been talking about, because we are able to reach a much bigger audience in a much more customized, personalized way. And if you think about doing a different model like charging musicians service fee to use the platform, if you calculate that you try to charge people who don’t have money. You can’t become a very large business. But on the flip side musicians have the biggest brands in the world. If collectively musicians are the most engaged category on every social network â€" Facebook, YouTube or etc., Instagram. And if you can help those businesses you have the biggest, most accessible brands in the world. If you can help those businesses run their business better, then ultimately it can tap into a multibillion dollar opportunity.So again, in the effort to stay focused that is what we are doing and sticking to itMartin: J, you said that you have a roundabout about a half a million band members. Is it band members or bands?J: Bands. MusiciansMartin: Ok, and can you give us some kind of split of the average number of people per band so just understanding this are there so many solo artist or really some 10 people bands and also understanding of whether some people are just having fun and just starting off in the beginning or some really like well known.J: In the beginning it was just a platform, open to any artist and we were just opening up to the world. Now, the last two years we focused heavily on the biggest artists in the world. So if you study the economics of the music industry you see that it is about 2,500 artists generate most of the traffic, most of the listening and most tour income and music sales. We are focused heavily ensuring that they have a BandPage profiles up and going. So we now keep a constant list and updating the list of those 2,500 artists based on our partners who use trending on these major streaming services. We partner with YouTube and Spotify and Vevo and Groove Music ,Microsoft service and Google etc., etc. So we can see when artists are popping up and when they pop into the 2,500 we make sure if they don’t have a BandPage profile to reach out. At this point almost every artist in the top 2,500 have a BandPage profile so everyone from Beyoncé to Arcade fire to Jay Z, on and on have a BandPage profile.We build a large platform so that any artist can log in and update their profile. So sure we also have up and coming artists around the world. We are a worldwide platform that allows musicians to get set up and start making money.Martin: When you just said Beyoncé and Jay Z I was just thinking why are you not organizing the music awards?J: Well, again, focus. One step at a time.Martin: Good.ADVICE TO ENTREPRENEURS FROM J SIDER In San Francisco (CA), we meet CEO Founder of BandPage, J (James) Sider. J talks about his story how he came up with the idea and founded BandPage, how the current business model works, as well as he provides some advice for young entrepreneurs.INTRODUCTIONMartin: Hi, today we are in San Francisco in the BandPage office or almost. Hi J, who are you and what do you do?J: I am J Sider and I am the CEO and founder of BandPage.Martin: Awesome. When did you come up with the business idea?J: It is a bit of a long story. I grew up as a musician and I was playing and singing music when I was a kid and that kind of led me into wanting to have a career into the music business. And so I started managing bands and venues around the country and then after many years of doing that I just realized that there is a lack of efficiency in the business model in the music industry as well as the technology that was being used and so I moved out here in San Francisco to solve these problems in 2009 and t hen launched the company in 2010.Martin: OK, cool. So when you came here to San Francisco what happened to be your first steps so that you just build a website or did you drop to investors. What did you do?J: The first step for meâ€" I didn’t know anybody around here. I just knew that if I wanted to build an app or a platform that this was the best city in the worlds to be in and it has the highest population density of engineers and designers and entrepreneurs and investors, and so as they say fish where the fish are.I came out here for the sole purpose of just getting involved in the community. I think there are a lot of ways that you can start a business. There is a lot of ways of getting it started, but the way I started it and I think the way you have a lot of leverage as an entrepreneur is if you start with a small team.So I came out here late 2009 and started searching, every night I went out and every night at San Francisco there are conferences and tech and startup meetup s. Every night you can go out and meet people so I did that for a couple of months and I talk to, I am sure, over a thousand people to try to get introduced to the right people that will be interested in the idea. And so my first step was to find one engineer and one designer that would work with me out of my living room to get the idea, build it and put it online.Martin: How did you convince them?J: It is not an easy thing. I think the most important thing when you are starting. There are lots of many important things but one of the most important things for me was simply being resourceful and driven. Finally, when I did find the right people to join me I realistically and probably talked to close to a 1000 people about it and some of those people were interested and started working with me and stopped and others worked a little bit longer and then it didn’t quite work out and then finally I found these individuals. And the way we did it was set up in a structure similar to some other startups around this area which is it is a small team that starts and we all work with equity and you believe in the division and all get behind it. And if you are lined on what you want to build you believe you are joining a team that can build it and incentivized through equity. That is how we did it and I think it aligns everybody on the early team to be able to have a go at it.Martin: So once you have developed your MVP of the BandPage what type of traction did you gain in order to find some investors?J: When I first moved here I talked to everybody, yes designers and engineers and folks but also investors and other entrepreneurs to really try to get to know a lot of people. And so after we had launched the product, if you can get a team, a small team and start building something and launch it you have far more leverage than you do if you go to investors before that point. If you go with a wire frame and idea versus you already have a product and traction you have more lev erage and you could give up less of the company for more funding.We launched the product, we had really strong market fit so it took off pretty quickly. When we had a couple hundred bands sign up and then a couple of thousand artist sign up and so at that point investors saw that we had created product that was creating a lot of value for our customers and so they are interested in being involved in this. So one of the things I did to really help us is I got to know this guy Larry Marcus and he is a managing director of Walden Venture Capital and just a brilliant guy, especially he has a lot of connections in the music industry. His name is in Billboards’ 100 most powerful people as well as in general Walden tech investor. And so I worked very, very hard to get him involved. Once I did that, he helped introduce us to other people.So one of the first things I tell entrepreneurs is when you land in a city and you start to build your startup make sure as quickly as possible to find a dvisors that you can put around the company. As powerful as you can find at different levels as you are building the company, you will be able to get more and more powerful and you need people around your company. You just kind of look out whenever can you find the most influential or powerful person that you can and try to get them involved. As you continue to build the company you find even more powerful and influential people that can help because it really makes a difference and in this case with Larry Marcus it was probably the sole reason we put together a seed ground funding. And then he has continued to be just incredibly powerful and helpful and just build this business.Martin: Good.BUSINESS MODEL OF BANDPAGEMartin: J, let’s talk about the business model of BandPage. What is it all about? What type of value proposition do you deliver to what type of customer segment?J: Our main goal as a business is we help musicians reach and monetize their customers in the most cost eff ective way you could reach revenue. We look at musicians, their business and they have a product to sell to their customer. The clear service that we provide is helping that business sell their products â€" tickets, merchandise, VIP offers and distribute those up to their customers where the customers are most likely to buy those products. And when the customers buy one of those products we take a 10 percent cut of that sale and so we have half a million musicians on the platform now. We distribute and display those musicians’ content and commerce to hundreds and millions of fans across most of the major streaming platforms today.Martin: Does this also mean that you only display the content on your platform or website but also on other media like YouTube and so on?J: Yes. Actually the whole point of what we do is to help the business musicians reach their customers wherever they are. If you think about yourself as a fan where you are spending your time these days with musicians, i t is probably not on their website of Facebook page anymore. You are probably spending a lot more time on streaming services listening to music and interacting with them there. And so instead of us being a destination to tell you have another place for bands to tell their fans to go we are truly a B2B, B2B2C if you will where we help the businesses reach their customers on the streaming services. There is now one billion a day active users across streaming services and we are just about the only way for every musician in the world to reach the customers on those platforms.Martin: And do you also have a way, unless you are in the Silicon Valley so many big data machinery startups. Are you also offering a way of matching the supply and demand in the meaning of the musicians and the customers in a more efficient way based on pattern recognition or something like that?J: Yes, absolutely so especially in the music business we really have this incredible opportunity that is happening righ t now where for the first time ever as a musician as a business you can truly segment and understand your customer based on their listening behavior or behavioral data. If you would listen to an artist 157 times versus listen to another artist 7 times there is a clear statisticly significance percentage likelihood that you would buy a ticket or a piece of merchandise or something to the artist, you listen to 157 times versus 7.And so we start to understand that data, the behavioral data and apply a kind of qualify and quantify the percentage likelihood that you would buy something from this artist versus another one and then match it up in that way. And so today we are now sending over 1.5 million fans to musician source every month and that is growing rapidly. We are the first company in the music industry to take listening data where we apply very large data machine learning algorithm to it to understand the likelihood that this individual is going to be interested in x type of co ntent and or commerce from that artist.Martin: And every customer needs to be logged in before looking at the content or is It anybody can look at the website and maybe you don’t even know who he is because you only got some browser fingerprint?J: We are distributing that to the streaming services, and we are partnering with the streaming services to analyze the data on their platform. So we do that as a service for the streaming services and then crunch the data, attach the offer from one of the 500,000 artists send it back and display it on the streaming service.The future of the music business is truly going to be just an amazing experience for the fans where everything you are interested in will basically just be delivered to you. As we see you start to listen to more and more artists or more and more of this particular artist and we can personalize the experience to you, you will automatically be notified of your favorite artist or the type of things you like to buy or the wa ys you like to interact with the artist. And it really shouldn’t be spending at all because we should be able to see and understand, “Hey, you like buying tickets, but every time we have displayed a t-shirt to you, you never buy that so we stop”. We pull back on that substituting those things for you.Martin: And when you look at the revenue streams for the musician, can you provide us a little bit of insight of the revenue split so for example digital goods or offline stuff that is merchandising, tickets, events whatever?J: Yes, absolutely. Over the years there has been a major shift in the music business where the main product that musicians as a business sold was music, was records, CDs and downloads. But that has dropped by billions and billions of dollars in our industry. So it has shifted heavily over to tickets and merchandise and VIP experiences and the bulk of the musicians’ career now is coming from touring and merchandising and VIP experiences.Martin: Are you organ izing or have you ever had the thought of organizing some kind of collaborative concerts and because if you know what type of individuals are loving what type of music then maybe you can even combine some kind of 5 to 10 musicians where have some kind of overlap for maximizing of the people that show up and are willing to pay?J: Absolutely. We are at the very beginning of what using this data and what this data can mean for our industry. Just like that there are going to be incredible new innovations that come from this including that where you wouldn’t normally see a country artist open for a hip-hop artist but there is a ninety percent overlap for people in Dayton, Ohio that are happy to love these two artists and you can sell out a bigger show if you book both of them than separately. So that is a great example of things to come and it will definitely be happening in the future.Martin: What other cool stuff can you imagine just based on the really understanding the music prefer ences?J: Frankly, I believe the entire industry should run on this infrastructure and I mean with any industry. The more data and better understanding you have about your customers the more you can personalize the experience, the better products you can deliver to them and the more insight you have from your customers the better you can run your business.Understanding the likelihood that certain fans are going to like an artist coming to this town versus that town, you will be able to do these collaborative shows. You will be able to, if you are one of the biggest fans of a particular artist, the artist could happen to show up at your screen and do a private show for you and a couple of others. On the industry side the more you can understand the trends â€" what genre is being listened to, how is an artist rising and breaking, it is incredibly powerful and useful tool for managers to find new talent. If I am a manager and I like hip-hop I can use this to understand who are the up an d coming artists instead of trying to just take it from a gut level, that is what a lot of managers and labels have done in the past. They just hear it and they believe it is good and they will use Facebook likes or they will use these different things to show, the blogs, to show that things are happening but there is no true source than people actually using a product and the musicians’ music listening to whatever trend is based on people actually consuming that.So, I think it is going to be not just on the consumer side having you two favorite artists, two completely different genres play together but also the tools /the data that will direct our entire industry to improve our business.Martin: I think the really interesting point for you will be to really focus and not be too diluted because there are so many opportunities that you could do and deliver some sort of service. For example if I am just thinking about helping or doing some crowd financing of artist just based on patt ern analysis. You can do this, but you can also do perhaps finding some sponsors. Ok you can do that. There are so many different things that you could do, but keeping really focus seems to be an issue.J: Yes, that is the number one, actually not number one but it is a very well-known reason why companies fail. It is because they try to do too much. So we focus very clearly on one thing which is helping this business take their products and reach and sell to their customers in the most cost effective way and increase revenue. That’s it.Now, as the industry grows and as our platform continues to grow we can open up into some select new opportunities but like you say focus is one of the things that we are best at doing.Martin: J, before you said that you are taking 10 percent off the revenue that you are helping the artist with. Is there any other type of revenue source involved or is this independent if it is merchandise, soundtracks, tickets, whatever, everybody is 10 percent?J: E verything is 10 present. It is a 36 billion-dollar industry right now for those things: tickets, merchant and VIP experiences.Martin: Worldwide or US?J: Worldwide. And that is going to grow in an incredible amount because of some of the things we have been talking about, because we are able to reach a much bigger audience in a much more customized, personalized way. And if you think about doing a different model like charging musicians service fee to use the platform, if you calculate that you try to charge people who don’t have money. You can’t become a very large business. But on the flip side musicians have the biggest brands in the world. If collectively musicians are the most engaged category on every social network â€" Facebook, YouTube or etc., Instagram. And if you can help those businesses you have the biggest, most accessible brands in the world. If you can help those businesses run their business better, then ultimately it can tap into a multibillion dollar opportunit y.So again, in the effort to stay focused that is what we are doing and sticking to itMartin: J, you said that you have a roundabout about a half a million band members. Is it band members or bands?J: Bands. MusiciansMartin: Ok, and can you give us some kind of split of the average number of people per band so just understanding this are there so many solo artist or really some 10 people bands and also understanding of whether some people are just having fun and just starting off in the beginning or some really like well known.J: In the beginning it was just a platform, open to any artist and we were just opening up to the world. Now, the last two years we focused heavily on the biggest artists in the world. So if you study the economics of the music industry you see that it is about 2,500 artists generate most of the traffic, most of the listening and most tour income and music sales. We are focused heavily ensuring that they have a BandPage profiles up and going. So we now keep a constant list and updating the list of those 2,500 artists based on our partners who use trending on these major streaming services. We partner with YouTube and Spotify and Vevo and Groove Music ,Microsoft service and Google etc., etc. So we can see when artists are popping up and when they pop into the 2,500 we make sure if they don’t have a BandPage profile to reach out. At this point almost every artist in the top 2,500 have a BandPage profile so everyone from Beyoncé to Arcade fire to Jay Z, on and on have a BandPage profile.We build a large platform so that any artist can log in and update their profile. So sure we also have up and coming artists around the world. We are a worldwide platform that allows musicians to get set up and start making money.Martin: When you just said Beyoncé and Jay Z I was just thinking why are you not organizing the music awards?J: Well, again, focus. One step at a time.Martin: Good.ADVICE TO ENTREPRENEURS FROM J SIDERMartin: Let’s talk about a dvice for first time entrepreneurs. So you definitely have learned stuff along the way. What of those learning can you share with our audience?J: This has been the best experience of my life. I just learned so much and there is so much I would love to share across a spectrum of building a company.But I think at the core of it first time entrepreneurs or people that are thinking about doing it. I think the most interesting thing I found stop entrepreneurs from going after their dream is just they don’t start. A lot of people feel like they need to have: ”Oh, I need to have an engineer and investor line up. I don’t know how to do marketing. I am not sure how to manage people or do PR.” They think about all these things before they have even started and so even just thinking about this big task stops them from starting. So I think the most important advice to folks that think about starting a business is just getting started, know that it is ok that you don’t know everything and know that you are going to make a lot of mistakes but you are going to learn from it. And frankly that is in my opinion the point of life, It is a great experience of life that we get to learn and try things. You are not necessarily failing if you don’t achieve some goal. You are learning and it is going to make you stronger and stronger and stronger.The thing I really want to say is worst case scenario you try, you take six months to a year to try to do this and you just learn an incredible amount, you get to know the feel that you are really interested in a lot better. Worst case scenario doesn’t work out you go back to the exact same job and position that you are in right now. Worst case â€" you are going right back where you are. So I like to tell folks don’t think about “I am starting a company and this is going to be my life forever.” Think of it like, “I am going to take a six month sabbatical and I am going to save enough money â€" a couple of thousand dollar s working in whatever job”. I slept of the floor and ate rice and beans I had about 3,000 bucks when I moved to San Francisco. A lot of people are like, “It is too expensive, whatever”. Well you know there are ways to do it. If you want to do it, you can find rent for four hundred bucks here.Martin: Really?J: Absolutely. I know a few places right now. 400-500 bucks, eat affordably, eat a lot of greens and rice and beans and you can get by for a six months or nine months. And if every day you are going out there, trying to make this happen, the cool thing is you will create some sort of progress. You will get to know people in that industry and maybe you don’t end up having a successful business but you end up getting to know a number of other folks in your industry and you are better off in the job that you had before. Finding ways to take the things that are normally scary for people, you know starting a business and venturing in this and making it more of an adventure and an opportunity to learn six months from what you are doing and knowing that you are probably going to end up doing something you enjoy more than you are today because you have spent that time. If not, getting funded and building a company and growing it more and becoming, you know, building a successful business.Martin: Cool. Thank you so much for your time and your insights!J: Absolutely.Martin: So next time you are thinking about starting a company and you are totally afraid of starting because of all the unknowns just keep starting, hustling your way around, living off in a very cheap apartment, meeting lots of people, working on your idea and if it doesn’t work out that is fine. You learned a lot and you met some cool people and you can go back to your old job. I mean everybody can do a normal job but maybe you are fulfilling your dream and starting a great company. Thanks.

Selcting an Approach for a Qualitative Research Plan Essay

Selecting an Approach for a Qualitative Research Plan Creswell (2013) contends that â€Å"we need to identify our approach to qualitative inquiry in order to present it as a sophisticated study, to offer it as a specific type so that reviewers can properly assess it, and†¦to offer some way of organizing ideas that can be grounded in the scholarly literature of qualitative research† (p. 69). Although I believe all three arguments cited by the author are important, this week’s readings and discussion emphasized the third reason in particular. Indeed, reviewing the five approaches provided me with ideas regarding how to investigate and explore the topic. Although I am still struggling with some of the details and aspects, a rough framework is†¦show more content†¦Through interviews and extensive data analysis the phenomenological study will aim to summarize â€Å"what the individuals have experienced and how they have experienced it† to arrive at the essence of the issue under investigation (Moustakas, 19 94 as cited by Creswell, 2013, p. 79). Given the issue, transcendental phenomenology appears to be a desirable approach to gain a better understanding of the issue due to â€Å"bracketing† and its aim at perceiving a phenomenon new, fresh, and â€Å"for the first time† (Creswell, 2013, p. 80). Conducting a case study appears equally appropriate. Since case studies consist of â€Å"qualitative approaches in which the investigator explores a real-life, contemporary bounded system or multiple systems over time, through detailed, in-depth data collection involving multiple sources of information, and reports a case description and case themes† one could emphasize the changes in democratic participation as well as the motivators (Creswell, 2013, p. 97). Furthermore, case studies provide a wide array of approaches, including both quantitative and qualitative elements as well as explanatory, exploratory, and descriptive directions that could be used to investigate the proposed question (Creswell, 2013). Case selection would be purposeful, probably focusing on one to five NGOs engaging with the government to influence public policy and the people involved with the same.

The Road Streets Of The Medina Square Essay - 1139 Words

Medina, Ohio is a historic town with small local businesses, and friendly people walking the street in every direction you look. Driving through Medina, I passed a long section of chain retailers and restaurants: Walmart, Target, Burger King, McDonalds lining both sides of the busy Route 42. Just after passing the Target, there is a green road sign â€Å"Historic Neighborhood 1830-1940.† After passing a section of the residential area the road became full of traffic again as I entered the Medina Square. In the center of the square is a gazebo, often filled with families or wedding parties taking pictures. On the other side of the road sits dozens of miniscule attractions. Some of these attractions include All Fired Up which is a paint your own pottery studio, restaurants such as Dan’s Dogs, Lemonberry and House of Hunan, and museums like Castle Noel. On the Northwest corner of the Medina Square sits a small, independently owned coffee shop, Cool Beans Cafe. â€Å"This has been a coffee shop since the 80’s,† Laura, the owner for the past six years said. At 12:30 on a Thursday afternoon there is a short line when walking into the restaurant through the tall propped open doors. There is an overwhelming feeling of family from standing in the line until you leave. Standing in the line there is a large chalkboard menu overhead categorized into numerous sections of drinks and light meals. The categories are written neatly in white chalk, and the items in each category in a smallerShow MoreRelatedThe Urban Areas Of Islam1961 Words   |  8 Pagesemphasis is on the demonstrations that must be performed and the readings to go with them. Next to no is said in regards to the behavior required in Makkah and Madinah. There is an extraordinary requirement for teaching Muslims going by Makkah and Medina to act in a deferential way. Moreover, the awful truth is that a greater part of Muslim nations are immature. The proficiency rate in a large porti on of the Muslim nations is low. The community appropriateness in poor Muslim nations is frequentlyRead MoreThe Birth of Heroes and the Rise of Filipino Nationalism12139 Words   |  49 Pagesprincipal square of the city, in which formerly stood the government, or governors, palace, the cathedral, and the townhouse, were lying like dust heaps overgrown with weeds. All the large public edifices were temporarily constructed of wood; but nobody then seemed to plan anything permanent. Manila was a disaster zone, littered with animal carcasses and rotting corpses. Swarms of flies and birds of prey feasted on the bodies. It took two months before authorities were able to clear the streets of debrisRead MoreMarketing Mistakes and Successes175322 Words   |  702 PagesASSISTANT MARKETING MANAGER MARKETING ASSISTANT DESIGN DIRECTOR SENIOR DESIGNER SENIOR MEDIA EDITOR George Hoffman Lise Johnson Carissa Doshi Dorothy Sinclair Matt Winslow Amy Scholz Carly DeCandia Alana Filipovich Jeof Vita Arthur Medina Allison Morris This book was set in 10/12 New Caledonia by Aptara ®, Inc. and printed and bound by Courier/Westford. The cover was printed by Courier/Westford. This book is printed on acid-free paper. Copyright  © 2009, 2006, 2004, 2001, 1998Read MoreInternational Management67196 Words   |  269 PagesHuman Resource Management Part Four 419 12 Motivation Across Cultures 13 Leadership Across Cultures 14 Human Resource Selection and Development Across Cultures Brief Integrative Case 4.1: A Copy Shop Goes Global Brief Integrative Case 4.2: The Road to Hell In-Depth Integrative Case 4.1: HSBC in China In-Depth Integrative Case 4.2: Chiquita’s Global Turnaround Supplemental In-Depth Integrative Case: Nokia Targets the Base of the Pyramid (available on the Online Learning Center at www.mhhe.com/luthans8e) Read MoreProject Managment Case Studies214937 Words   |  860 PagesCenter, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 750-4470, or on the Web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, e-mail: permcoordinator@wiley.com. Limit of LiabilityDisclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or

Republica Himalayan Science Fair Free Essays

REPUBLICA KATHMANDU, Jan 11: Himalayan Club de Scientia, an independent science club of Himalayan White House International College in New Baneshwor is organizing Himalayan Science Fair 2011. The event is taking place on January 28 and 29 from 10 am to 4:30 pm inside the college premise. Mukul Dhakal, Program Coordinator of the science exhibition and a grade 12 science student, shared, â€Å"We are organizing this nationwide science exhibition so that the students can get a platform where they will get to expose their talents. We will write a custom essay sample on Republica Himalayan Science Fair or any similar topic only for you Order Now This way students who have learned science theoretically, will also get to experience it practically. † Dhakal further informed that the program is entirely a student program and is the first of its kind nationwide inter-college science exhibition where students from +2 or equivalent can participate and show their talents. The program also includes seminars, cultural programs, food festival, education fair and gaming competitions. Students participating from outside the Kathmandu valley will be provided room and board from January 27 to January 30. Sarin Raj Pokharel, Finance Director of the HICSCI club and a grade 12 science student, said, â€Å"Our club used to organize many events in which only the students from our college could participate. So for the first time we are independently organizing a nationwide mega event where everyone can participate and get an exposure to the practical aspects of science. † â€Å"The main reason behind organizing this event is to find and promote junior scientists. Since the demand of science and technology seems to be growing, we thought it is good to start from the college level itself in order to foster young talents,† he said. He further informed that after successfully organizing the 1st valley-wide inter-college science exhibition in 2009 where 28 colleges had participated, this year HICSCI stepped forward to organize the 1st nationwide science exhibition. â€Å"We expect 30 teams from within the valley and 20 from outside. The event is being judged by science professors from Tribhuvan University. The first prize is Rs 25,000, second Rs 15,000 and third Rs 10,000,† informed Pokhrel. Those students and youth organizations interested to participate in the exhibition must register their team for the fair latest by Jan 20. How to cite Republica Himalayan Science Fair, Essay examples

Republica Himalayan Science Fair Free Essays

REPUBLICA KATHMANDU, Jan 11: Himalayan Club de Scientia, an independent science club of Himalayan White House International College in New Baneshwor is organizing Himalayan Science Fair 2011. The event is taking place on January 28 and 29 from 10 am to 4:30 pm inside the college premise. Mukul Dhakal, Program Coordinator of the science exhibition and a grade 12 science student, shared, â€Å"We are organizing this nationwide science exhibition so that the students can get a platform where they will get to expose their talents. We will write a custom essay sample on Republica Himalayan Science Fair or any similar topic only for you Order Now This way students who have learned science theoretically, will also get to experience it practically. † Dhakal further informed that the program is entirely a student program and is the first of its kind nationwide inter-college science exhibition where students from +2 or equivalent can participate and show their talents. The program also includes seminars, cultural programs, food festival, education fair and gaming competitions. Students participating from outside the Kathmandu valley will be provided room and board from January 27 to January 30. Sarin Raj Pokharel, Finance Director of the HICSCI club and a grade 12 science student, said, â€Å"Our club used to organize many events in which only the students from our college could participate. So for the first time we are independently organizing a nationwide mega event where everyone can participate and get an exposure to the practical aspects of science. † â€Å"The main reason behind organizing this event is to find and promote junior scientists. Since the demand of science and technology seems to be growing, we thought it is good to start from the college level itself in order to foster young talents,† he said. He further informed that after successfully organizing the 1st valley-wide inter-college science exhibition in 2009 where 28 colleges had participated, this year HICSCI stepped forward to organize the 1st nationwide science exhibition. â€Å"We expect 30 teams from within the valley and 20 from outside. The event is being judged by science professors from Tribhuvan University. The first prize is Rs 25,000, second Rs 15,000 and third Rs 10,000,† informed Pokhrel. Those students and youth organizations interested to participate in the exhibition must register their team for the fair latest by Jan 20. How to cite Republica Himalayan Science Fair, Essay examples