EasyGroup Business Model Analysis

EasyGroup Business Model Analysis The easyGroup is the owner of the easy brand and licenses it to all of the easy branded businesses, including easyJet plc, the airline Stelios started in 1995 and in which he remains the largest single shareholder. Easy Group brands include easy Car, easy Cinema, easy Hotel, easy Internet cafà ©, easy Pizza, and easy Value. Airline easyJet is now publicly traded, but easyGroup holds a stake in the company. The easy formula requires consumer-oriented businesses that display significant price elasticity, require a high fixed-cost base and low marginal-cost to service additional customers. Industries with strong but complacent incumbents are particularly well-suited for the easyGroup approach. Easy Group is contemplating its entry into the cinema exhibition business in the UK through the launch of a no-frills cinema. The company believes that it can redeploy the capabilities, such as yield management, that led to the success of easyJet, its low cost airline business, into this new venture. The case examines the market for cinema in the UK, as well as the evolution of Easy Groups portfolio of companies, with a view to assessing the attractiveness of the companys planned launch of easy Cinema. How would you characterise the easyGroup business model? A  business model  describes the  rationale  of how an  organization  creates, delivers, and captures value  and it captures economic and social factors. The process of business model design is part of business strategy. In theory and practice the term business model is used for a broad range of informal and formal descriptions to represent core aspects of a  business, including purpose, offerings, strategies, infrastructure, organizational structures, trading practices, and operational processes and policies. (A. Osterwalder, Yves Pigneur, Alan Smith, 2010) The  easy business model  has a  key feature: clear value proposition the easy concept is to  bring cheap and efficient services to most customers. As a solution a Web-based booking and administration system was built on Microsoft Windows Server 2003 that can be quickly adapted for numerous online ventures. This benefited the company with fast time to market of new business ventures, low-cost of ownership, easily replicated for many new ventures and highly secure and reliable. Easy Group has become an important incubator for new businesses which, while sharing the easy brand, will each be stand-alone companies. Rather than building a conglomerate, Stelios is turning easyGroup into a network of organisations linked by brand and image rather than strategic intent or purpose. The creation of easyGroup in 1998 was a signal that Stelios intended to try out this concept. The name easy itself explains much of easyGroups approach to new ventures, which one executive describes as taking a complicated business and making it simple. Technology solutions play a major role in this, but central to the easy philosophy is yield management. The group looks for businesses where there is high price elasticity, high fixed cost bases and low marginal costs and, especially, where incumbent firms have grown complacent and are not prepared for the arrival of dynamic new entrants. By launching and growing new businesses quickly, easyGroup aims to win market share from these incumbents through a combination of low cost and easy-to-access services. The Easy model provides to the customer functional services at the lowest possible price, on the basis of the real value of the basics of the provided service, avoiding any superfluous frills. The Easy group breaks up a standard service, only keeps items that are absolutely required by the consumer and provide it to him at the lowest price taking into account the time they buy it. The time is one of the most present valuable item in nowadays services. As Stelios Hajiloannou, Easy group CEO, said Easy is a functional brand. In any industry where consumers are being ripped off, if Stelios can find a way to give them real value, he states he will do it. On Easy group side, the model creates a huge turnover as it seduces a lot of consumers, due to the specificity of the model and the advertising of the brand. Direct margin are low as the model provides low prices but this is compensated by the optimization of the running fixed costs thank to the Yield management lever. The model is comprised of variations of turnover by proposing attractive prices on openings where competitors use to be underperforming. As Stelios H. focuses on highly leveraged industries, the additional turnover generated on those unusual slots is almost a net benefit that compensates the lower margins on other sales. Our business model, based on low-cost and convenience, has shown its flexibility. EasyGroups brand means low-cost products, no frills services, cost- and time-sensitive structures that offer value in exchange for some inconvenience. Thats the irony. The easyGroup brand is not necessarily an easy one to deal with. In short, the brand simply offers to make everyday things less expensive by varying the business models-not glamorous or innovative, but honest. Easy Group model obviously reduces the operational complexity and maintenance cost, which allows them to undercut their competition. All of the easy group companies offer the same class of services using standardized components, whether it is one type of plane or one type of car model. Due to the advanced technology used that helped the easyGroup to lead to innovation, it helped advance the business models and the practices which had a real impact on the peoples life. In my opinion without the web solution, the easy model wouldnt be as successful as it is, and would completely lose its essential basis of functioning. Internet makes this business model a dynamic one, with a young and accessible image. The easy model is a based on a self-serving system, which is almost entirely provided by the web solution. The web system allows fix costs to be avoided by managing the scheduling, pricing, booking, payment and various other aspects of the business and outsourcing to the customer. It is the only way the company is able to apply its concept for more people. Internet makes the offer available to almost everyone everywhere, in any moment. True to its low-cost, no-frills business model, easyCinema does not sell popcorn and drinks to movie-goers. For those who wish to treat themselves in such pleasures, they have to bring their own food along. Trailers and ads are cut back to lower the costs of operating the cinema. How would you characterise easyGroups growth strategies in terms of the Ansoff matrix? According to the Ansoffs Matrix there are four growth strategies that a company could expand. These growth strategies are Market penetration, Product development, market development and Diversification. Looking at easyGroup case it shows that the company was following a diversification strategy but that it uses the other growth strategies as well and this will be discussed further below. ANSOFF MATRIX Existing Products New Products Existing Markets Market penetration Product Development New Markets Market Development Diversification (Johnson et al page 258) The Ansoff Matrix is used to focus on the easyGroup present status, products and markets (customers). Market Penetration:  Easy group continues to achieve growth with its existing products i.e providing services at rock bottom prices. By following this business strategy the market share continues to grow. Market Development:  Easy group is seeking growth by targeting its existing products to new market segments. (Mintzberg H, Quinn J.B, Ghoshal S, 1998) For example Easyjet is targeting business travellers with its low cost airfares and frequent flights to popular destinations. The best way to achieve this is by gaining competitors customers. Other ways include attracting non-users of your product or convincing current clients to use more of your product/service, with advertising or other promotions. Market penetration is the least risky way for a company to grow. Product Development:  Easy group, particularly Easyjet has grown by introducing new flight routes thereby further developing its product range. Diversification:  Easy group is bringing forward new business ideas for its existing market segment such as easy Internetcafe, and the latest venture easy money. The Ansoff  Product-Market Growth Matrix  is a marketing tool created by  Igor Ansoff  and first published in his article Strategies for Diversification in the Harvard Business Review (1957). The matrix allows marketers to consider ways to grow the business via existing and/or new products, in existing and/or new markets there are four possible product/market combinations. This matrix helps companies decide what course of action should be taken given current performance. The matrix illustrates, in particular, that the element of risk increases the further the strategy moves away from known quantities the existing product and the existing market. The Easy Group started off with the core activity of providing low-cost flights to Europe. This is therefore its core business, and with over 18 million passengers a year flying easyJet, the Easy Group needed to establish ways for the business to grow and expand. The Easy Group had continued to penetrate the existing air transport market at low-costs flights; it also developed the market potential to include a greater accessibility of easyJet flights by increasing the number of airports handling the passengers. While the flights are the core business in Easy Group, a complementary diversification programme was entered in order for a travel solution package is made available to meet the whole range of customers needs and expectations of both frequent and holiday travellers. This is aimed at both the corporate and the customer sectors in the business. By taking the key strengths and opportunities available to the Easy Group has established a further growth strategy which includes market penetration, market development and diversification into new compatible areas of business. Market penetration their strategy of offering lower costs to the customers enable them to get access to most of the market share. Market development included the growth strategy to increase the number of handing airports by branching out into new markets and a wider customer base. Lastly with diversification Easy Groups strategy of hiring cars, the internet cafe and hotels is a way for the Easy Group to find ways and different markets that can be developed to provide the best prices for the customers. (Karen Beamish, Ruth Ashford, 2008) Therefore product development and market extension typically involve a greater risk than market penetration (existing product and existing market); and diversification (new product and new market). Ansoff stressed that the diversification strategy stood apart from the other three. While the latter are usually followed with the same technical, financial, and merchandising resources which are used for the original product line, diversification usually requires new skills, new techniques, and new facilities. As a result it almost invariably leads to physical and organizational changes in the structure of the business which represent a distinct break with past business experience. (Karen Beamish et al 2008) Most of the Easy Groups growth strategies involve three of the Ansoff matrix namely market penetration, diversification and market development. Ansoff pointed out that a diversification strategy stands apart from the other three strategies. The first three strategies are usually pursued with the same technical, financial, and merchandising resources used for the original product line, therefore diversification usually requires a company to acquire new skills, new techniques and new facilities, just like Easy Group did. The notion of diversification depends on the subjective interpretation of new market and new product, which should reflect the perceptions of customers rather than managers. To what extent is easyGroup a conglomerate? A  conglomerate  is a combination of two or more  corporations  engaged in entirely different businesses together into one corporate structure, usually involving a  parent company  and several (or many)  subsidiaries. (Dearbail Jordan and Robin Pagnamenta, September 25, 2007) Often, a conglomerate is a  multi-industry company. Conglomerates are often large and  multinational. (Dearbail Jordan et al, 2007) In the case of the easyGroup they are conglomerate and the extent of it will be discussed below. Fortune has an article on  Stelios  Haji-Ioannou and his various Easy companies that form the  EasyGroup  conglomerate. Stelio has started a number of companies that range from rental cars, airlines, to internet cafes, based on the idea of eliminating middlemen using technology. Apparently, his companies are all doing very well, including EasyJet which is a public company that generated $765M in revenue last year. (Wendy Walker, 2003) I noticed that EasyGroup has a similar business model to companies like Fresh Direct and Dell. All of these companies are using technology to eliminate the middleman to deliver lower cost and higher value to customers. These companies are not internet companies as such, but they are examples of how internet technology and general information technology can become a competitive advantage, if applied correctly to support a rational business model. All of these companies offer the same class of service, but with self-motivated pricing, using standardized components, whether its one type of plane or one type of car model. This model obviously reduces operational complexity and maintenance costs, which allows them to undercut their competition. It also reminded me of Dell in some ways because Dell is obsessed with maximizing their margins by minimizing their cost of inventory with  just-in-time assembly  of PCs. These are all sensible business principles and practices that more companies should really adopt to stay competitive. The interesting thought for me is that companies such as EasyGroup, FreshDirect, Dell, and even EBay could not exist and thrive to the same extent if there was no such thing as the Internet. However, the real focus shouldnt be on the innovation in technology that enables such companies to exist and thrive. It really should be on how advances in technology lead to innovation in business models and practices that have real impact in peoples lives. The company stands tall when it comes to achieving higher standards of excellence. (Wendy Walker, 2003) Over the years brands have been synonymous with quality innovation in their respective domains. Easy Groups passion to excel has made us grow faster than most of our competitors. Easy Group strongly believes that success is a continuous phenomenon by benchmarking ourselves with the best Business practice followed globally; we look forward to a bright future, brought to life by growing possibilities. The easyGroup is rated as one of the fastest growing business conglomerates of India. The easy group has been a front-runner in delivering innovative and customized solutions. By offering contemporary products, superior quality and assured availability. The group has gained an exceptional stronghold with an array of winning brands to its credit. Easy Solar Industries is constantly innovating to give you more value for the money. His high quality products are backed by excellent nationwide sales and service support. Easy Group continues grow in terms of products benefits, market share and customer retention. Today Easy Group is Conglomerate consisting of diverse products such as Solar Thermal, Solar Photovoltaic Power Products. Our products attained market reputation in very short span of time. Most of Easy Groups customers are mainly government and semi government organizations continuously supported us in span of last six years only because of our regular efforts in maintaining quality and adopting latest research and development. Many of the companies follow the easy format of taking away the frills in something to make it cheaper overall, plus using the  yield management system of supply and demand. In the last few years the company has started to franchise the businesses to expand, and cut down costs. Some EasyGroup subsidiaries have been more successful than others, the most successful division being  EasyJet. The extent of Easy group been conglomerate is large as they are operating with a number of different large businesses that fall under the main Easy Group corporation. There are up to fourteen businesses namely EasyJet, Easy Internet cafà ©,   EasyCar.com,   Easy Money,   Easy Cinema,   Easy Cinema DVD Rental,   Easy Bus,   Easy4Men, Easy Pizza, Easy Music,   Easy Cruise, Easy Mobile/Shimmer Bright,   Easy Hotel, Other businesses. (Wendy Walker, 2003) Should easyGroup entre the cinema industry? According to the Case, three factors made easyCinema an attractive expansion area. First, the yield management capabilities that were used for the airline business and did well running could be applied to easyCinema. For example, easyJet prices are linked to demand and advance purchase. Likewise, they would charge more for peak-time movie tickets. Stelios always wondered why cinemas charged so much money when they are so empty. He then realised that by maximizing both capacity and the extent to which it was utilized, easyGroup could grow the cinema admissions well above current rates. Second, easyGroup can use the technology to automate the process of serving customers, thereby reducing labour costs. All bookings would be made through the Internet or kiosks in the foyer of the cinema. (Jackson Mahr, 2003) Third, the no-frills concept will be applied and this could be an advantage. The cinema would now show any advertising or support promotional campaigns associated with films (activities that require significant time and organization). (Jackson Mahr, 2003)They would allow the audience to bring in their own food and drink, eliminating the traditional allowance stand. Therefore the customers will be interested in going to watch a movie knowing they do not have to spend more money on the food and drink than the actual movie they want to see. EasyCinema is just one of many new ideas in the easyGroup pipeline. (Jackson Mahr, 2003)The criteria for a new business can be summed up in one word, simple. The easy formula requires consumer-oriented businesses that display significant price elasticity, require a high fixed-cost base and low marginal-cost to service additional customers. Also, industries with strong but complacent incumbents are particularly well-suited for the easyGroup approach. Although the above mentioned aspects are positive I would recommend that it should not enter the UK cinema business, the reasons are discussed below. The main question is how well do cinemas fit in with the easy formula? I would think that Cinemas do not fit well with their formula. Firstly the success of the actual cinema will depend on success of the movie which is considered to be very low. Therefore by going through with the cinema idea it is considered to be high risk business and there is a lot of instability in the cinema industry. Secondly this product is considered to be giving entertainment to the consumer. Therefore having a low frill may not be enough to ensure the cinemas success. Moreover the Cinema industry is not that attractive according to the case. The business environment is extremely competitive. Other factors to consider are the bargaining power of buyers. Here the consumers have the choice of movie but the success of the operator depends on the success of the movie. Therefore the bargaining power of consumer is very high. With the Bargaining power of suppliers distribution of the movie is controlled by the big movie houses of Hollywood. Therefore they do have certain influence over the UK industry. They may not accept the yield management model of the Easy group. With regards to the entry barriers, it requires high capital investment. Another problem that might affect the success of the cinema is substitutes. (Jackson Mahr, 2003)There are substitutes in form of video rentals, video sales and DVD rentals which is increasing everyday and could affect the success of easyCinema. This case study gives a fair idea about the industry in which a company operates in and the various external forces that influence it. However, it any industry is not static in nature. Going forward, we foresee increasing competition in the industry and these competitors will large players and it may be possible that some kind of oligopoly come into play. If oligopoly had to be the result it would result in the industry moving towards consolidation. The barriers to entry will increase going forward; therefore according to my opinion the industry is unattractive. As discussed above the entry barriers are high capital investment, high brand loyalty, high competition, risky nature of business. They can enter by acquiring an existing cinema operator. This will help in gaining markets share in timely manner. Moreover here the strategy can be concentrating on online DVD sales and broadcasting instead of Cinema. CONCLUSION: The easyGroup profits by either selling shares in the businesses or by licensing or franchising the brand to reputable partners. The easy brand currently operates in more than a dozen industries mainly in travel, leisure, serviced office accommodation and other consumer facing sectors. Currently, only EasyJet plc, out of the easy group of companies is listed in the Stock exchange. EasyJet has shown substantial organic growth since the day it came into being in 1995. Although easy groups businesses are based on the low price model, they still face competition from established players, who emphasis on quality. Throughout the years, the  easy  Group  strategy  kept a clear readability built around some corner-stones principles: a low-cost approach, an identifiable and recognizable simple communication  strategy  mainly focused on price and entertainment, constant expansion, development of new strategic business units in close to the customers market, with a core focus on travellers. In terms of management, the  easy  Group also adopted a consistent and durable stance in minimizing its operating administrative fees and in applying for the newly created Strategic Business Units the management framework that brought success to the previously settled business. All in all, the strategic consistency is to be found in a clear managerial desire to expand as far as possible the no-frills concept to every profitable market. Harvard Referencing: A. Osterwalder, Yves Pigneur, Alan Smith, Business Model Generation,, self published, 2010 Alan Clarke, Wei Chen, International hospitality management: concepts and cases, 2003, page 232 Jackson Mahr, easyGroup June 13, 2005 Jardine, Cassandra (2006-11-29).  Theyd laugh if I called myself Sirà ¢Ã¢â€š ¬Ã‚ ¦.  The Telegraph  (London). Retrieved 2007-09-07. Karen Beamish, Ruth Ashford, Marketing Planning 2007-2008, page 44-45 Mike W. Peng, Global Strategy 2009, page 279 Mintzberg H, Quinn J.B, Ghoshal S, (1998) The strategy Process. Revised European  edition.PrenticeHall Yves Doz and Mikko Kosonen,  Harvard Business Review, Vol. 85, Issue 6, pp 98-104, June 2007. Wendy Walker, Easy Jet Press Pack, February 21, 2003

Weight Issues In Wrestling :: Health Nutrition Essays

Weight Issues In Wrestling What do Billy Saylor (19 years old) at Campbell University in North Carolina, Joseph LaRosa (22) at the University of Wisconsin-La Crosse, and Jeff Reese (21) at the University of Michigan all have in common? They are all dead now, victims of one of the ghastly secrets of college wrestling. All three boys were engaged in dehydrating practices trying to lose weight in order to qualify for their first college-wrestling matches. Reese was trying to lose 17 pounds so that he could wrestle in the 150-pound weight class. His two-hour workout in a rubber suit in a 92-degree room cost him his life. He died of rhabdomyolysis -- a cellular breakdown of skeletal muscle under conditions of excessive exercise, which, combined with dehydration, resulted in kidney failure and heart malfunction (Iowa Gazette - December 22, 1997). LaRosa was also riding a stationary bike and wearing a rubber suit when he collapsed and died. Saylor was riding a stationary bike in a predawn workout when he suffered a h eart attack (Washington Post - January 14, 1998). Physicians are of the consensus that excessive dehydration as a means to lose weight can harm bodily functions, possibly leading to kidney failure, heat stroke or a heart attack. Why then do the wrestlers engage in these dangerous activities? Legendary University of Iowa wrestling coach Dan Gable had this to say in an ESPN report: "They (wrestlers) think they are indestructible. But I’ll tell you what -- those three athletes thought they were indestructible, too. And they aren’t around to talk about it."Wrestlers believe that it is mind over body; they can accomplish anything and nothing bad will ever happen to them. So, LaRosa’s behavior on that fatal day in November wasn’t anything out of the ordinary for many college wrestlers. He was wearing sweats over a rubber suit and riding a stationary bike in a steam-filled shower room. His body temperature reached 108 degrees. He was trying to make weight for his match the next day, and wrestling’s rules did little to discourage such dangerous practices. The logic in wrestling is to make the lowest weight you can in the weigh-ins, which are 24 hours before the match. Then you can replenish and rehydrate your body over the course of the 24 hours between the weigh-in and the match. This will give you an advantage in the competition b ecause you really will be bigger and stronger then most of the wrestlers in that lower weight class.

Concept of Maqasid Al-Syariah Essay

1. In directly meaning Maqasid Al-Syariah can be define as the objectives of Islamic law. However, in linguistic meaning Maqasid is define as follow, a goal or as an inspiration meanwhile Al-Syariah is define as the law that God reveal to Muhammad involving all aspects of life such as family institution, in finance or it can say the way of a Muslims live their life. In together term Maqasid Al-Syariah carriers the meaning based on its constituent part, of the goal and objectives which are reason for legislation of the rule of Islam. As we known all law in Islam has wisdom behind them and not randomly legislated or without purpose. These terms are back bone to this concept. They are Illah and Hikmah. Illah; in linguistically has two meaning. A sickness and a reason or causes. In definition Illah is a law that exist because of the reason or it impact in bad ways. As an example is prohibition of drinking alcohol is due to it give bad effects to our health and mental stability. Allah prohibits us to drink Alcohol in order to avoid us losing our insanity and doing something immoral without our awareness. Hikmah; in linguistically means wisdom or intend. This mean Islamic law has it intend even though it is not clear why Allah make a rule like that. There are some rules in Shariah for which the reason for their legislation is not clear or apparent. We do not say that there is no reason, rather which it is hidden from us and Allah with His wisdom chose not to disclose it. As an Example prayer five times daily. That not to say there are no benefits. Only Allah knows best. 2.Sources of Islamic Law Several of sources Islamic law used by Islamic jurisprudence to clarify the Shariah. There are two main sources that can be consider as the core of Islamic law which is Al-Quran and Sunnah.However in some circumstances of jurisprudence different methods are used to judge the level of authencity which is comprise of Ijtima’ and Qias. The Quran Muslims believe the Quran to be the direct words of Allah, as revealed to and transmitted by the Prophet Muhammad. All sources of Islamic law must be in essential agreement with the Quran, the most fundamental source of Islamic knowledge. When the Quran itself does not speak directly or in detail about a certain subject, Muslims only then turn to alternative sources of Islamic law. The Sunnah Sunnah is the traditions or known practices of the Prophet Muhammad, many of which have been recorded in the volumes of Hadith literature. The resources include many things that he said, did, or agreed to — and he lived his life according to the Quran, putting the Quran into practice in his own life. During his lifetime, the Prophet’s family and companions observed him and shared with others exactly what they had seen in his words and behaviors — i.e. how he performed ablutions, how he prayed, and how he performed many other acts of worship. People also asked the Prophet directly for rulings on various matters, and he would pronounce his judgment. All of these details were passed on and recorded, to be referred to in future legal rulings. Many issues concerning personal conduct, community and family relations, political matters, etc. were addressed during the time of the Prophet, decided by him, and recorded. The Sunnah can thus clarify details of what is stated generally in the Quran. Ijma’ (consensus) In situations when Muslims have not been able to find a specific legal ruling in the Quran or Sunnah, the consensus of the community is sought (or at least the consensus of the legal scholars within the community). The Prophet Muhammad once said that his community (i.e. the Muslim community) would never agree on an error. Qiyas (analogy) In cases when something needs a legal ruling, but has not been clearly addressed in the other sources, judges may use analogy, reasoning, and legal precedent to decide new case law. This is often the case when a general principle can be applied to new situations. (See the article Smoking in Islam for an example of this process at work.) 3.Type and categories of riba and gharar The Islamic economic system as part of spiritual activities obtains its general rules from Al Qur’an and Sunnah. Therefore, its values consist of what is allowed and leaves out what is forbidden. Some values that are forbidden in Qur’an and Sunnah are Riba (Usury) and Gharar (Uncertainty). These values are the biggest differences between Islamic economics and Capitalism and Socialism economic systems. The following is the explanation of Riba and Gharar: A. Riba (Usury) Riba is literally translated from the Arab language and means ‘an increase, growth, augmentation or accretion,’ (Khir, Gupta, & Shanmugam, 2008, p.28), and ‘addition and expansion,’ (Al-Harran, 1993, p.16) although not all of increasing is forbidden in Islam. And as syari’ah term, it means ‘the premium’ that is paid by the borrower to the lender together with the principal of loan due to some condition and because of its addition time to maturity (Chapra, 1992). According to this definition, many scholars agree that the riba refers to ‘interest’ used commonly in economic conventional system. Types of Riba: Scholars have divided riba into two types: 1. Riba Duyun. This type of riba occurs in a loan or debt. Any kind of addition or increase above the amount of principal whether the addition or increase are inflicted by the lenders or willingness of the borrowers. Riba Duyun is divided in two types: a.RibaQardh This is all increments above the amount of the principal of the loan whose amount is imposed proportionately at the beginning of the lending agreement. The addition above the amount of the principal and is due in a certain amount of time based on the loan. b.Riba Jahiliyyah This occurs when the increment of the principal increases as the time of loan increases. At first, there is no such fix increment, but when the borrowers want to postpone the loan or to extend the time to maturity the lenders will compel the increase of the loan. However, this addition is due to the time of maturity and can also happen along with the riba qardh above. According to this explanation riba qard and riba jahiliyyah refer to ‘interest’ because they are associated with the ‘addition or increase’ and the ‘extension’ of time to maturity. For example: Loans from the banks, credit card etc. 1. Riba Buyun Riba buyun occurs in trading transactions. This kind of riba occurs in trading of two of the same product but in unequal amounts; or the same product in equal amounts but there is a postponement in delivery. Types of Riba Buyun are: a. Riba Fadhl Riba fadhl is products that are exchanged in different amounts, number, measurement or weight without the postponement in delivery of the product or the payment. According to Khir, Gupta, & Shanmugam (2008) it is also called Riba of Excess (p.31). Riba fadhl can happen in the purchase and sale of different products, but the quantity or the amount of products that is exchanged are different. The difference in the quantity or the amount is unjust and dishonest which is prohibited in Islam. Riba fadhl can be avoided if the goods exchanged are equal in amount, number, quantity, and measurement. b. Riba Nasi’ah (Riba Yad) According to Khir, Gupta, & Shanmugam (2008), this is a kind of riba happens in trading in same weight, measurement and number of products, but the delivery of products, or the payment of money are delayed. However, Chapra (1992) stated that Nasi’ah come from nasa’a means ‘to postpone, defer, or wait’ (p.35), and refers to the time the borrower returns the loan with the addition. And he argues that this is interest in a conventional system. Although there are some explanations and definitions about types of riba, basically the meaning is same; because in concluding knowledge, scholars is usually referred to as Ijma’ Ulama (the teaching from Scholars who have well known about their knowledge in Islamic Jurisprudence). Motivation in prohibition of Riba: Islam is very concerned with human prosperity. Therefore, it would not forbid something without any explanation for the prohibition. Although riba does not just refer to interest, but the term of riba is used to explain interest. The following is the reason why riba is prohibited in Islam: 1. An interest based system damages equity. Interest will force the borrowers to pay additional money above the principal; while the borrowers do not have a positive profit from their loan used in business. Therefore, the interest rate will increase the money of rich people. 2. Interest based systems dissuade people to open a new business. Interest rates will cause people to hesitate in finding something new or in opening a new venture because the new business does not yet have a positive return. On the other hand, the owner must pay definite payments to the lenders. 3. Interest based systems set profit to one side and ignores the other side. Much like banks, they are just concerned about their returns and don’t care about loss or profit of the borrowers. 4. Interest based systems depress investment activity. Interest will increase investment costs. 5. Interest based systems add securities to the lenders rather than participate in development. For example: For safety lending reasons, banks tend to provide loans to the most profitable business or company that have been in existence for a long time and are less concerned with small enterprises that are new in the market.

The Year Of The Flood - 1677 Words

In Margaret Atwood’s novel The Year of the Flood, several saints are mentioned during Adam Ones speech for Pollination Day namely Saint Suryamani Bhagat of India, among so many others, because of her contributions to forest preservation (Atwood 276). Atwood may have chosen to incorporate Bhagat, an environmental activist, as a saint in her novel considering that The Gardeners had devoted this festival to the mysteries of plant reproduction, especially that of those wondrous trees, the angiosperms, with special emphasis upon the Drupes and the Pomaceous Fruits which matches with the work Bhagat has been undertaking to counter climate change(Atwood 276). Although more than half of Suryamani Bhagat’s life is still before her, extrapolating from her current and past deeds it can be anticipated that she will continue to stand as a servant of God due to her immense beliefs and rigorous efforts to combat deforestation for the welfare of the community; live a life of heroic vir tue as she fights to preserve her culture and property rights of her people; remain praised and idolized in her community for her accomplishments and facilitate yet more miracles such as obligating the government to accept, honor and fulfil the demands of her tribe as well as facilitating the astonishing increment in female literacy in the area; for those reasons, in addition to the fact that Bhagat also mirrors the characteristics of the gardeners and shares a similar background story with Toby, MargretShow MoreRelatedThe Year Of The Flood Essay1516 Words   |  7 PagesThe Year of the Flood Research Paper The novel The Year of the Flood by Margaret Atwood takes the Biblical origin story of man and creates a Garden of Eden for the end of the world. 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