Marketing Strategy for the redevelopment of Tottenham Court Road Essay

Marketing Strategy for the redevelopment of Tottenham Court Road - Essay Example tal marketing according to Peattie (1992), who says Green Marketing should mix with any other marketing that a marketing manager would like to focus upon because Green Marketing is â€Å"The management process responsible for identifying, anticipating and satisfying the requirements of customers and society, in a profitable and sustainable way.† (p. 11). It is the high priority marketing of our generation. But Lovelock (2000) insists on service marketing, because continuous services are necessary in modern economy. He quotes Albrecht: â€Å"Ours is a service economy and it has been one for some time† (p. 1). Fundamental strategic position of marketing in this context depends on the uncertainty created by present global trend. Such consideration â€Å"†¦has been attributed to the increased uncertainty that businessmen feel these days when they can contemplate the future – what will government intrusion, roaring inflation, or the sudden appearance of competition from abroad do to them next?† Weitz and Wensley (1984, p.1). Strategic Marketing suits here due to the importance and all-encompassing significance of the region involved. It is necessary because of the high level in which marketing is conducted and marketing here is aiming at a very long term commitment from customers. They are built-in spaces and immediate disposal or re-disposal is not possible. In many cases, it could be a life-time commitment with investment and cannot be taken lightly hence, time horizon has to be taken into consideration. â€Å"Strategies last for long periods of time, while tactics have short durations. Strategic plans might have a ten year horizon, in contrast to annual marketing plans that deal primarily with tactical issues,† ibid (p.3). Marketing under these circumstances cannot be abrupt due to its ongoing nature. It will be a long term commitment by my firm and new opportunities or threats to opportunities keep appearing for a long time and it is necessary for the marketing

Karla Homolka English Research Paper Example | Topics and Well Written Essays - 1500 words

Karla Homolka English - Research Paper Example With both of them participating in the murders, the role of Karla Homolka in the crimes was figured out vaguely, as there were differences of opinion regarding her contribution to those murders. This paper will chronicle her life starting from her early years, her marriage to Paul Benardo, rape and murder of the girls, finishing with the investigation, conviction and her eventual release. Early life Karla Homolka was born to Dorothy and Karel Homolka in 1970 as the eldest of three daughters in the Canadian town of Port Credit, Ontario. She went to Sir Winston Churchill Secondary School and even while going to the school, Karla worked as a part-time employee at a local pet shop. She graduated in the year 1988, and got employment as a veterinary assistant in Thorold Veterinary Clinic in Ontario. She did a similar job at the Mardinale Animal Clinic as well. â€Å"Karla developed a passion for animals and after high school she went to work at a veterinary clinic† (Montaldo). Thus, when one focuses on Karla’s early life, it appears that she lived a normal life, without exhibiting any negative or even psychotic tendencies. However, it all started to change when he married Paul Bernado. Marriage to Paul Bernado Karla as part of her job attended a pet convention in Toronto in the spring of 1987. During that visit, Karla, just 17 at that time, met 23-year-old Paul Bernardo in a â€Å"suburban hotel restaurant outside of Toronto and she fell for Paul, immediately.† (biography.com). They had sex on their first meeting and as their relationship started to develop, they â€Å"discovered that they shared the same sado-masochistic desires,† (Montaldo). Because of this ‘extremity’ in their relationship, Paul assumed the role of a ‘master’, with Karla willingly assuming the role of a ‘slave’, who has no problems in fulfilling her husband’s extreme fantasies. One of these extreme ‘fantasies’ o nly leads to their first murder - the murder of Karla’s own younger sister, Tammy Homolka. Rape and the murders Three years into their relationship, Paul starts to become obsessed with Tammy and to abuse her, he gets Karla’s help. One of Paul's constant complaints with Karla was that she was not a ‘virgin’ when they met and so she becomes ‘devoted’ to pleasing Paul in every way possible. (Montaldo). Using this weakness of Karla, Paul openly expressed his feelings for Tammy, and also convinces Karla to aid him in raping her. â€Å"It was, therefore, from his point of view, her responsibility to make it possible for Paul to take the virginity of†¦Tammy without her knowledge or consent.† (Bardsley). Karla wrongly accepts this flawed logic, and decides to make or force Tammy into being a sort of ‘surrogate virgin’ for her. In their first attempt in July 1990, Karla serves Tammy, a spaghetti dinner mixed with heavy doses of Valium, which was stolen from her workplace. â€Å"Bernardo rapes Tammy for about a minute before she starts to wake up† and so they temporarily abandon their plan then, waiting for another opportunity. ("Key events in the Bernardo/Homolka case"). Then, six months before their marriage, at a Christmas party at Karla parent’s house, Karla first mixes sedative Halcyon in the alcoholic drinks of Tammy. After the party was over and family members retired, the husband and wife duo took Tammy to the basement, with Karla holding a cloth soaked with Halothane over Tammy's mouth. (Becker, 2005). There, Paul with Karla

APA citation and zotero Essay Example for Free

APA citation and zotero Essay 1. A general â€Å"res earch s hows† type of statement that is supported by at least three different sources (e.g., three research articles) Zotero is an extension of Firefox web browser that enables users to save on books, article and other materials on which one is able to retrieve their citations (Morton, 2011; Vanhecke, 2008; Lewis, 2008)               2. A paraphrased sentence citing a single source with three to six authors Zotero retrieve and imports citation information from a number of sources such as newspaper, and commercial Web sites, and Web-based databases such as PubMed (Trinoskey, Brahmi, Gall, 2009, p. 225).                3. A subsequent sentence citing the same source as in Step 2 that correctly uses et al Air pollution is low in developed countries comapared to industrialised countries where it is high as evidenced by particular locations in Canada (Hystad et al, 2011, p. 1128).                4. A short quoted passage that is cited correctly. Make sure to include the page number and place the punctuation correctly He argues that, â€Å"Zotero’s note-taking feature is very practical. Users can enter small notes on a particular reference by simply typing in an input field. These notes are saved automatically and organized in conjunction with the citation information,† (Vanhecke, 2008, p. 275).                  5. A second quoted passage that is 40 words long or longer, which is formatted correctly as a block quote and cited correctly with the page number and punctuation placed correctly He explains how Zotero note taking works: Zotero’s note-taking feature is very practical. Users can enter small notes on a particular reference by simply typing in an input field. In addition, Zotero is integrated with Microsoft Word and other word processors and works in all computers formats (PC, Mac, and Linux). Features such as formatted citation export make it very simple for users to create a list of references in the perfect format desired for a manuscript or other use. Users can create a reference list by dragging and dropping citations, (Vanhecke, 2008 p. 275) References Hystad, P., Setton, E., Cervantes, A., Poplawski, K., Deschenes, S., Brauer, M., Demers, P. (2011). Creating National Air Pollution Models for Population Exposure Assessment in Canada. Environmental Health Perspectives, 119(8), 1128 Lewis, L. A. (2008). From the Front Lines: An Academic Librarian Reports on the Impact of APAs New Electronic References Guidelines. Reference User Services Quarterly, 48(2), 128-131. Morton, A. (2011). Digital Tools: Zotero and Omeka. Journal Of American History, 98(3), 952 Trinoskey, J., Brahmi, F. A., Gall, C. (2009). Zotero: A Product Review. Journal Of Electronic Resources In Medical Libraries, 6(3), 225. Vanhecke, T. E. (2008). Zotero. Journal Of The Medical Library Association, 96(3), 275 Source document

Time And Technology Essay -- essays research papers fc

RESEARCH QUESTION How did telecommunications advance from the end of the 1800’s to the end of the 1900’s ? THESIS Telecommunications have revolutionized business and communication between people.   Ã‚  Ã‚  Ã‚  Ã‚  Since the beginning of time communication has always been a crucial part in our societies for development. Without communication there was no or little development, people did not know what was out there, and what was available. It is communication that has developed our large and very intricate societies with different institutions communicating for the welfare of our people. People have always strived for contact with other people. Man wants to know his surroundings and with the arrival of telecommunications this became possible very quickly all over the world. Telecommunications is one of the reason we live in such a fast-pace and high-tech society today.   Ã‚  Ã‚  Ã‚  Ã‚  The first invention in the telecommunications field is the telegraph. It was invented by Samuel Morse and utilizes an electrical current to send signals in the shaped of dot and lines called the Morse Code. It was first used in 1844 and it was mainly reserved for companies which needed information quickly such as banks, this helped them grow and more efficient. With the telegraph one could pass a message across any distance almost effortlessly and it was cheap, so the need for this kind of communication was already there. This new medium also meant that even people which were not rich could send a message very far without having to pay incredible amount of money. The whole world began to expand their telegraph networks and soon Europe and the United States had connecting transatlantic marine lines under the Atlantic. Information has always meant power and wealth and it is no wonder that telegram traffic became an important economical as well as political tool. In earlier times it would takes days if not weeks for news to reach certain countries or other parts of our world and in some cases this proved to be disastrous for business and economy, but now the whole world could pinpoint every event that happened around the world in a matter of hours if not minutes. Business deal could be closed quicker and markets could grow with international influence.   Ã‚  Ã‚  Ã‚  Ã‚  Then in about 30 years or so in the mid 1870’s the telephone was inven... ... the world is becoming a smaller place. The question is what is next?   Ã‚  Ã‚  Ã‚  Ã‚  Never before have people communicated and done business as much as now, and as frequently as now. After researching about the telecommunications it is fair to say that telecommunications did have a huge impact on the way our society communicates, and in the way we conduct our lives. It was hard to find any contradicting evidence to my thesis statement and most of the information I found concluded that business and communications have been revolutionized by telecommunications. The outcome of wars, business transactions, relationships have changed and depended upon communications, and together with this great change of communications so did these events change. BIBLIOGRAPHY 1.  Ã‚  Ã‚  Ã‚  Ã‚  Lorenz. D. â€Å"How the world became smaller†. History Today. 2.  Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"Telegraph† Microsoft Encarta 95. Funk & Wagnalls Corporation (1994). 3.  Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"Telecommunications† Microsoft Encarta 95. Funk & Wagnalls Corporation (1994). 4.  Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"Telephone† Microsoft Encarta 95. Funk & Wagnalls Corporation (1994).

Development Plan Reflection Essay

Whilst reading various sources on the importance of reflecting after an experience I came across some wise words, that of Aitchison and Graham cited in Stoobants et al (2007:30) that say, â€Å"We do not learn from experience. Experience has to be arrested, examined, analysed, considered and negotiated in order to shift it to knowledge†. With these words in mind I began to see why it is important to reflect on my first MBA assignment. I see the MBA course as a learning journey, it is through reflecting on my past experiences that I will easily identify my strengths and weaknesses and thus easily identify areas that I should concentrate on developing during my MBA journey. In this assignment you will read about an experience that happened during the early stages of my career as a manager. I will analyse and discuss how this experience has led to where I am today and how it has affected my plans going forward in both my personal and working life. This was in year 2010. I was asked to act in the role of Management Accountant as my manager at that time resigned. I was then already hungry for more challenges and so I gladly accepted without hesitation as I was determined to prove that I am ready for it. Later that day it suddenly dawned on me that it was going to be challenging with the many vacancies in the team (Refer to Appendix 1 for the team structure). With this challenge in mind, I rearranged the team in order for it to work better. We embarked n the annual budget process later that year which did not go well as we did not complete the budget presentation within the stipulated timelines, did not get to analyse the critic all the numbers thoroughly and as a result the region was not ready for presenting the annual budget on time to Head Office. Post the experience below are the key things that I took out of that experience that I thought would enable me to manage teams better going forward: * Ensure that adequate training on the system is provided and requesting the business to provide more IT support people even outside of business hours during the budget process. Learn to lead and delegate and know that I cannot juggle my role and others as I can only achieve so such myself as I was doing most of the work that needed to be done by the Financial Planner: Benrose. * Seek advice from manager and not be afraid to ask for coaching. * Plan better around the timelines to take into account inexperience of some of my team members e. g. Plan a trial run presentation * Be more assertive as I realised that as a manager I could have negotiating additional resources since our headcount was lean so as not to compromise our deliverables. After having been through my first workshop at Henley, I liked Belbin (1981)’s team role model that was presented and in his book where he goes on to look at why management teams succeed or fail which I ironically discovered lying in my parents study and till now never bothered to even look at. He identifies 9 team roles in 3 categories. The action orientated people (Shapers, Implementers and Complete finishers). The thought orientated people (Co-ordinators, Teamworkers and Resource investigators). The last group are the people orientated (Specialists, Monitor evaluators (MEs) and plants). Had I applied his model to understand my team dynamics prior to starting the budget process, I would have seen that I had gaps in key roles that prevented us from completing the task on time. Please note the below roles assigned to my team members are just based on my own perception based on how I know them not based on the questionnaire that is normally completed. AFP – Implementer and Resource Investigator (She was the organiser for the team and was good at providing new knowledge or something new discovered whilst working on the new system and she would share it with the rest of the team) * FP Midrand – Plant and Resource Investigator (He was creative and generally looked at issues, he was cheerful and enthusiastic individual but was easily distracted and would want to start looking at new things without completing a task) * Me – Specialist and Monitor Evaluator. These were my top 2 roles from the results of the questionnaire I completed for my first workshop at Henley. I was a specialist in the team because I had more knowledge of the business and finance than my team. In retrospect, I would have been able to easily match the correct people with the rights tasks. I also could have put plans in place to ensure the following: * I had no shaper in the team. Belbin describes a shaper as generally someone able to drive a team and give direction – not having this I think contributed to us missing the deadline. So in requesting additional resources (e. . a temp person the business would have allowed) I could have ensured that I selected someone who is a shaper or developed more of shaper qualities in myself. * As we did not get to critically analyse the numbers prior our submission, if we had someone strong on being a completer finisher in the group chances of us submitting quality information would have been high as this role is effectively used at the end of a task, to â€Å"polish† and scrutinise the work for errors. I would definitely use this to my advantage going forward in my team tasks going forward.

Marketing and Fitness Center Essay

Our fitness is located in Cockeysville, Maryland, and provides fitness services to people of all age, level, and expertise. The main purpose of â€Å"Our Fitness† is to promote healthy lifestyles by providing knowledge on nutrition and exercising habits. â€Å"Our Fitness† is well known for it’s excellent services and aims to extend the business by providing two additional services. First, we will start fitness classes for people above 55 years old. These fitness classes are conducted to provide a comfortable environment for people above 55 to promote exercising habits and healthy lifestyles. Second, our fitness center will have our own restaurant next to the fitness center specifically designed for the members. Our fitness center’s restaurant will provide low fat, low calorie, and high protein and fiber food specially designed for promoting healthy eating habits. Strategically, Our fitness’s primary market target will consist of people over 55 and mostly retirees. Our secondary target market includes college and high school students. a. Three ways that determined these products and/or services would be the most feasible and potentially profitable for the company to add are: 1. Placement 2. Trends 3. IS the profit margin large enough to make money but small enough for your â€Å"target audience† to afford? Placement Placement or location is one of the most important factors in attracting and retaining customers. Everybody prefers easier and more convenient way to purchase products or services. Therefore, â€Å"Our Fitness† uses the placement approach to connect the products and services with the customer by making services and products more convenient and more accessible to the customers. Our fitness is located in the business area as well as densely populated  residential area with three different universities and one community college. On the other hand, there are only two fitness centers in the area with very expensive membership and maintenance service fees. Overall, this fitness center will be in the center of public places. At the same time, Our fitness center’s restaurant will be only one diet concerned restaurant in the area. Therefore, using competitive advantage through the introduction of two new services will help to retain old members as well as to attract new members in the area. 2. Trends People want to live longer and look good following healthy habits. It is very important to identify the market trends to assess the market potential. Understanding the market trends helps to respond according to customer behaviors as well as to develop sustainability. On the other hand, it also helps to analyze our competition and market potential. Different fitness centers are using different approaches to attract new members as well as to retain existing members. We have to understand that new members want new services. It is not possible to satisfy the consumers without understanding their needs. There is a fierce competition in the market to increase customer satisfaction by introducing new products/services. At the same time, there are many unsatisfied consumers who always change producers or owners because of unsatisfactory service or products. In our case, we even lost many members because of same services since last couple of years. So, we introduce our products/services as a result of customer survey and market research. Our market research and survey strategy will play a vital role to grow our target market in the future. 3.Is the profit margin large enough to make money but small enough for your â€Å"target audience† to afford? The profit margin is large enough to make money because we have young people who spend a great amount of money on food. You also have the retirees who spend a huge amount of money on good health. Also, these days people are more health conscious and follow healthy habits. Exercising and healthy eating are the main priorities of many people. The target audience will be able to afford it because it is a comfortable environment that promotes exercising habits and a healthy lifestyle which allows positive energy to follow. b. Competitive advantage is created through the understanding of your competitors and their products and services. One of the competitive advantages of Our Fitness is fitness classes especially designed for people over 55 as well as restaurant service for members with unique menus and special price. All fitness centers provide classes and specialty training but many do not have classes that target an older age audience. We want our members to feel more comfortable working out and training with people of the same experience level. On the other hand, people over 55 are the ones who spend more money on healthcare, and we aim to reduce their healthcare costs by engaging them with age specific and specialty classes. Our on site restaurant will provide nutrition rich health foods and diet services to members as well as other guests. It will be restricted to members only after one or two years, because we are using the restaurant as advertising to increase membership. A2. I will focus on newspapers for advertising, which reach a broad, geographically-targeted market. These ads will be focused to attract people who are 55 or older because they rely heavily on newspapers. Newspaper advertising is low-cost and involves short timelines. At the same time, this type of marketing channel will reach the total circulation, even if only a portion fits our prospective profile. I will also use Facebook as a marketing tool; Facebook is still, far and away, the most popular, with the most evenly-distributed demographics of any social media platform. Facebook is the only social media platform that you need, no matter what field your business is in. The main reason to use Facebook to advertise is the use of Facebook by all age people. In addition to ease of use, Facebook ads and business pages are cost effective, reliable, and very quickly disseminated to all users. Finally, we will rely heavily on word-of-mouth advertising, as personal reviews are often the most trusted form of information. This marketing tool can also be used to reach the secondary market, visiting colleges and advertising our job opportunities as well as membership benefits. A3. Price is the value that you exchange for a product or service. Pricing objectives should align with the company’s goals and can be affected by factors such as competition, consumer reaction, and other regulatory requirements. Generally, other fitness centers charge $59 per month as service fee and $55 per personal training class in the area. So, we need to provide service for lower prices than our competitors. On the other hand, it is very important to understand the demand of product or services before pricing because there is a direct relationship between price and demand. Our main pricing objective is to maximize the revenue and quantity. This objective helps to maximize long-term profits by lowering costs and increasing market share. Penetration pricing will be used to maximize the sales of quantity by means of a low price. First, we will cut the one time member fee for all new members, so that they have to pay monthly fee only, which will be $39.99 per month. At the same time, for new members and existing members, who are 55 years or older, will have to pay only $15 per fitness class. The price may be gradually increased after establishing market share and customer loyalty. We will use cost-plus pricing method because it makes easier to calculate the selling price for our services/products. Since, our production cost per membership per month is $20.00, and $4 per fitness class. Therefore, our profit per person in membership is $20 and $11 in fitness class per person. Our goal is to add 100 new members in the first month and increase to 500 within next six months. Therefore, our revenue will increase by $2000 from membership in the first month. Similarly, we will provide competitively cheaper price for foods and drinks comparing to local restaurants. We will also offer promotional pricing, discounts and coupons for the restaurant and fitness center to attract more customers. Our overall goal will be to maximize the number of consumers to increase the quantity of sale. If we can maximize the number of consumers, then we can maximize the revenue as well as profit. A4. Customer relationship management (CRM) is the combination of technologies, strategies, and practices used by companies to manage customer interactions and improve customer relationship. The main goal of CRM is to improve  business relationships with customers by retaining customer retention and increasing sales growth. Ngai stated that â€Å"the purpose of CRM system is the building of relationships in order to affect the customer acquisition, retention, loyalty and profitability† (Ngai, 2005). I would like to use Salesforce as CRM system. Salesforce is a cloud-based CRM system, and doesn’t need special installation and hardware. This system can be very cost effective by keeping IT cost low. CRM system like Salesforce can track the history of customer interactions and helps to grow our business. The system track includes calls, emails, presentations, meetings, or even the further step to close the deal. Salesforce can also track the deal details including the worth, competitor, and the stage of deal with automatic deal updates at a glance to close the deal. Salesforce can drive the process, productivity, and consistency by using sales app to map the sales and forecasting stages. It is equiped with quoting capabilities to track the quantity, standard and quoted price, product code, and expected sales in a given period. In addition, company’s e-mail, phone or website can be used to track customer inquiries and history of their activities. Salesforce provides customer relationship data with automatic updated instant access of full customer history of all communications. It also helps to create customized pitch documents about consumers and prospects and can focus sales staff’s attention on the right consumers. Cross-selling and up-selling opportunities become clear through better understanding of consumers and increase their satisfaction. Satisfied consumers are likely to become loyal consumers and common referrals. It can also be beneficial to the customer because it can provide email updates, alerts, referrals, discount coupons, and special events and promotions. Overall, Salesforce tracking system will be very useful in controlling and managing the inquiries and sales of products and services. A5. It is not possible to open any new business without incurring risks, and opening a new restaurant with established fitness center is no different. Financial risk is one of the most difficult risks associated with any new business. â€Å"Financial risk has been defined as any risk that has a direct impact on net cash flows† (Cabedo and Tirado, 2004). This includes problems  related to price, credit, inflation, liquidity, and potential losses due to changes in financial markets and defaulting large scale debtors (Meulbrook, 2000). There are also risks with opening a new restaurant. Our Fitness center require a large amount of capital upon opening, in order to hire additional staff, purchase high-end fitness equipment, and advertise the restaurant to local fitness and healthy food seekers. Personal injury is another significant risk of operating a gym and adding fitness classes especially to people of 55 or older who are more prone to injury. Aside from the legal aspect, injuries in our gym could cause a bad reputation, particularly if they are recurring. It is critical to maintain a good reputation to sell our fitness services and get people into our restaurant. At the same time, improving the quality of our existing services along with adding new specialty services and products is very critical, and is one of the most important aspects of business. Factors such as product contamination, product safety, business integrity, and failure to maintain high standards, may reduce demand for our business. The reputation of the company plays a vital role in our forward progress. Therefore, poor product quality or services may damage our reputation and could limit business activities as well as increase our operating costs. On the other hand, there is always a risk of substitute of products and services in the market. It is very important to study the market and meet consumer needs before launching any new business. A6. The most common risk associated with not launching the new products or services will be the lack of competitive advantage at the Our Fitness center.  Introducing new services and opening a new restaurant will provide the competitive advantage that we seek and will help to expand the business and satisfy existing members. Customer preferences and tastes change with time, it is necessary to meet their needs and tastes to increase the demand for our products/services. Therefore, the new restaurant will aim to compliment our new services/products and satisfy consumer demands. If we are unable to launch the new services/products into the market and meet the consumer needs, then it will not only negatively affect Our Fitness’s financial performance but it may increase by operating costs, and change  consumer perceptions about our existing services Innovation can be a key differentiator between Our Fitness and our rivals. Therefore, if Our Fitness will not launch new services then, it might run the risk of losing ground to competitors, losing key staff, decreased membership, or simply operating inefficiently. As a whole, Our Fitness financial performance could be adversely affected without new products/services, and in the end lead to its closure. References Cabedo, J. D. and Tirado, J. M. (2004), â€Å"The disclosure of risk in financial statements†, Accounting Forum, Vol. 28 No. 2, pp. 181-200. Meulbrook, L. (2000), Total strategies for company-wide risk control, Financial Times, London. Ngai. 2005. Customer relationship management research. Marketing intelligence & planning, 23 (6): 582-605. he Feasibility Study’s Purpose ï‚ · Evaluate the nature, scale and economics of constructing an indoor recreation center within the Area ï‚ · Identify the potential audience/supporting membership of an indoor recreation center within the Area ï‚ · Assess what amenities/programming would be most logical to provide as part of a recreation center ï‚ · Explore the physical characteristics of various sites on which the recreation center could be constructed 1 Evaluate potential funding sources available to support short-term and long-term Recreation Center alternatives

Problems of Inequality and Poverty in Finance The WritePass Journal

Problems of Inequality and Poverty in Finance Abstract Problems of Inequality and Poverty in Finance AbstractIntroductionThe Impact of Financial Development on Income InequalityThe Use of Microfinance for Poverty AlleviationConclusionReferencesRelated Abstract Inequality and poverty are realities for the majority of developing economies around the world. Intuitively, financial development leading to economic growth should have a positive relationship between the reduction of income inequality (and therefore social inequality) and poverty eradication. Successful regulation of the financial sector leading the economic and political stability will have the effect of increasing access to capital through increased foreign direct investment. In this way FDI can be used to improve access to microfinance which has been identified by the UNDP and developing countries as a primary strategy to poverty eradication as a long-term goal. Introduction Literature on poverty alleviation notes that levels of poverty can be decomposed in two distinct ways. The first is through rapid economic growth and the second is though a change in the distribution of income in that economy (Bourguignon, 2004). This literature acknowledges the inherent link between poverty alleviation, economic growth and income redistribution. In terms of statistical representation, Besley and Burgess (2003) prove that in order for alleviation of poverty to occur, developing countries need to effect an annual growth of 3.8% in the Gross Domestic Product (GDP) in order to half poverty in the next decade which is currently less than half the average growth recorded in recent decades. Therefore although financial development has been shown to produce faster rates of economic growth, literature still remains largely unconvinced of the link between financial development and poverty alleviation (Beck et al., 2004). It goes without saying that income inequality perpetuat es social inequality by affording lower-income groups limited access to necessities, commodities, health and education which in turn creates a recurring cycle of poverty and inequality in itself. This paper therefore aims to explore the link between financial development and inequality in poverty alleviation with a particular focus on developing countries in Africa. The central hypothesis of this paper asserts that if there is a positive relationship between financial development and the reduction of income inequality, financial development can be used as a means of alleviating poverty in developing countries. The Impact of Financial Development on Income Inequality The impact of financial development on the reduction of income inequality is not settled in current research outcomes, with certain models implying that development enhances opportunities for growth and reduces inequality. However, that this reduction is hampered by imperfections in the financial markets with factors such as credit restraints impeding the flow of capital to poorer individuals and communities, therefore enforcing inequality in income and intensifying the wealth disparity in these developing economies (Beck et al., 2004). According to these models, financial development plays the role of reducing these credit restraints and therefore improving the availability of capital for redistribution in lower-income groups and thereby accelerating growth. Contrary to these models however, Haber et al. (2003) note that in low-income countries, poorer members of society remain in rural areas and therefore rely on access to capital through family connections and as a result, financial development will only result in assisting the high-income end of the spectrum. Overall therefore, this may have a negative impact on income inequality. Evidence from developed economies suggest a nonlinear approach to financial development which asserts that at higher levels of economic development, there is increasing wealth available to a larger percentage of the population which may have the effect of offsetting this negative impact (Greenwood Jovanovic, 1990). The problematic element of this nonlinear model is that reaching higher levels of economic development may take substantial economic growth over a long-period of time, which does little to address immediate concerns of income inequality. Indicators of financial development include the improvement of information and transactions costs, and the availability and distribution of capital. For developing countries, which often experience a lack of availability of credit, there is a larger reliance on foreign direct investment and private credit institutions to provide capital. In these regions there is a large reliance on micro-finance institutions (MFIs) to improve the access to capital for low-income groups. Case studies in developing countries have proven that access to microfinance has a positive impact on poverty alleviation and income inequalities (Meagher, 2002). Practice however has shown that MFI access is in itself problematic as it requires strict regulation of the financial services industry in that country in order to ensure both consumer and investor protection (Omino, 2005). The success of MFIs in providing access to capital relies heavily on a coherent strategy by the government of the country through the c entral banking institution or primary financial regulation authority. The Use of Microfinance for Poverty Alleviation One could argue that the use of microfinance as a means of poverty reduction and income redistribution is a moot point, as it has been popularly acknowledged as a primary long-term strategy for the eradication of poverty. The United Nations Development Programme prioritized microfinance as part of their broader international agenda as a measure of poverty alleviation (UNDP, 1997). As part of this international mandate, the UNDP provided avenues where commercial financial institutions could gain funding from the UNDP as a means of providing microfinance to low-income families with comparatively lower repayment demands and in doing so, catering for the social economic burdens carried by the nationals of the countries involved (UNDP, 2004). This agenda is one that has been adopted by financial regulation authorities in developing countries. The Central Bank of Liberia, for example has adopted a new regulatory framework which provides a unified approach to regulation of the financial sec tor with a specific focus on MFIs, acknowledge the mandate of the UNDP to make use of these institutions for wealth redistribution and poverty eradication (Central Bank of Liberia, 2009), which was a goal specifically supported by the United Nations Capital Development Fund (UNCDP, 2008). The support for these forms of financing institutions is not specific to Liberia with the UNDP and UNCDP offering similar support to other developing countries around the world, with a specific focus on improving financial development through effective regulation in the sector. The rationale behind the use of MFIs as a primary means of poverty reduction lies in the access that it gives to lower income groups to encourage small business. This acts as a grassroots approach to wealth redistribution and therefore the use of MFIs has been identified as a primary method of poverty alleviation in developing countries, such as Liberia (Central Bank of Liberia, 2005). Financial development through the use of non-traditional means of providing access to credit for lower-income groups requires unified regulation of the banking sector in developing countries. This necessitates a hierarchical approach to regulation which effectively regulates the relationship between the national financial policy of the country, macroeconomic financial institutions and MFIs. The effect of consistent regulation in this way has the effect of stabilizing the economy of the country, as an unstable economic environment generates inflation which has a proven effect on microenterprise that is more severe than established, wealthier companies or corporations (Franks, 2000). Therefore ensuring a stable economic environment is essential to continued wealth redistribution and ultimately poverty alleviation. A case study of the Philippines further showed that the investment in poverty alleviation in this way enhanced the economic and political resources of the average household and as a result had a positive effect on social capital and cooperation through the encouragement of production and industry (Quinones Siebel, 2000). This in turn had a positive effect on the political stability in this region which further encourages foreign direct investment (FDI) in the economy of the country. The knock-on effect of FDI in developing countries is self-explanatory with a positive result on economic growth and greater access to capital. An unfortunate reality however faces many African nations which represents the converse situation, where many years of poor financial management have led to inherent corruption within the system and in order to make use of the available support offered by the UNDP and UNCDP, these countries require a significant financial overhaul which is low on the priority lis t for many countries. This is particularly true of developing countries that have suffered the effects of oil wealth, which has had a negative overall effect on economic growth despite an abundance of natural resources which has compounded wealth disparity and poverty (Mahdavy, 1970). Conclusion The evidence presented in this paper shows that there are a number of factors required for financial development to positively contribute to a reduction of income inequality (and therefore social inequality) and poverty eradication. The most important factor is effective and unified regulation of the financial sector of the country, which will have the effect of stabilizing the economy and therefore stabilizing interest rates, but also in the stabilization of the political climate in the country. Theoretically, this positions these economies favorably in terms of FDI which will have the effect of increasing the amount of capital available for redistribution. By redistributing wealth at a lower-income level, the nonlinear financial effects of economic growth can be expedited with a realistic alternative to gradual wealth distribution in favour of bottom-up wealth creation.   In this way, financial development tackles the problem of wealth disparity and the associated poverty levels from a top-down and bottom-up approach which can reasonably be expected to increase the rate of economic growth, and doing so in a manner that does not rely on singular capital redistribution that may be plagued by imperfections in financial markets. In this way, financial development can be used as a means of alleviating income inequalities and poverty levels in developing countries. References Beck, T., Demirguc-Kunt, A. Levine, R. (2004) Finance, Inequality and Poverty: Cross Country Evidence. NBER Working Paper Series, Working Paper 10979 Besley, T. Burgess, R. (2003) Halving Global Poverty. Journal of Economic Perspectives, 17, pp. 3-22. Bourguignon, F. 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