Strategic Management Accounting Coursework Example | Topics and Well Written Essays - 2000 words

Strategic Management Accounting - Coursework Example The group has diversified its business to a vast magnitude in the past few years in various sectors for a successful venture. This particular strength has further helped the company to develop a strong brand and gain an impressive reputation in the market. In the similar context, it can also be argued that the brand reputation of the organisation is creating pressure on its management to preserve its success record and suffice the customers’ demand with consistent performances. Due to massive diversification, the corporate group has also faced few issues with respect to its services and strategic management initiatives. The business has accordingly been using the concept of brand stretching for its various products as well as services. With regard to Fransoko Group, strategic management is an important consideration required for the success of the business. There are various strategic factors that affect the business and its success, such as the management style, financial per formance as well as other relevant aspects, as can be apparently observed from the case reference. Industry rivalry- Fransoko will face intense rivalry from its competitors to enter the new market. To attain the required market share, the company will need to appoint skilled managers to accomplish their objectives. Although the personality of the Chairman deciphers his effective leadership abilities, it shall not be sufficient in meeting the intense rivalry and hence, proper strategic planning will be required. Bargaining Power of the suppliers- Suppliers need to provide resources on regular basis for the company to develop its market worldwide. Quality along with the reliability of the supplier is also deemed as an important issue, which needs to be mitigated by managing the resources effectively. Bargaining Power of the buyers- The bargaining power of the buyer is high in the industry context of Fransoko and therefore, it is

Managing Human Resources Essay Example | Topics and Well Written Essays - 500 words - 4

Managing Human Resources - Essay Example The most ideal course of action the Chief Human Resource Officer should take is to advice the company to delay and adjust to an elective contribution solely when the committee that oversees the 401k plan and the company as a whole does not contain material nonpublic details (Boudreau, & Ramstad, 2007). In addition, it is not apparent how tasks are distributed between the executive committee of the company and the committee that oversees the 401k plan. Therefore, the most suitable route of action that the chief human resource officer could take would be to forward the concern to both the executive committee of the company and the committee that oversees the 401k plan, to have them cooperatively reach an agreement on how to address the issue. Would doing something about it constitute insider trading? If the Chief Human Resource Officer does something about the situation, it will comprise insider trading. Insider trading refers to the act of selling and buying shares in the stocks of the company by the board of directors, management of the company, or by a holder of over 10% of the shares of the company. Company managers are permitted to trade the stocks of their company on condition that they reveal their pursuit before ten days to the end of the month within the duration the dealings take place. Nevertheless, it is unlawful for company insiders to trade on the basis of their knowledge of material company developments which have not been publicly proclaimed.

Base Multiplier Approach to Money Supply

Base Multiplier Approach to Money Supply Traditionally, it has been shown controversially that money supply is determined using the base multiplier approach. The multiplier model of the money supply, originally developed by Brunner (1961) and Brunner and Meltzer (1964) has become the standard model to explain how the policy actions of the Central Bank influence the money stock  [1]. However, there is more than sufficient evidence to suggest that monetary authorities do not determine the money supply and that the flow of funds approach makes more sense. Consequently, I will compare and contrast the base multiplier and the flow of funds approaches to the determination of money supply and determine which occurs in reality in view of the present economic climate. Under the base multiplier approach, the monetary authority (Bank of England) sets the size of the monetary base, which in turn determines the stock of broad money as a multiple of the base.  [2]  This process is described below: Ms = Cp + Dc (Equation 1) In the equation above, Ms refers to the broad money supply, Cp refers to private sector (excluding banks) notes and coins and Dc refers to bank deposits. The next equation is for the monetary base (B) is as follows: B = Cb + Db + Cp (Equation 2) In Equation 2, Cb refers to banks notes and coins while Db refers to deposits with the Bank of England. Both combined they can be called reserves R and can be substituted into the equation above to form Equation 3. B = R + Cp (Equation 3) The quantity of money can now be expressed as a multiple of the base as follows:  [3]   (Equation 4) The next stage is to divide through by bank deposits to obtain the Equation 5 as follows: If = ÃŽÂ ± and = ÃŽÂ ², then the equation above becomes Equation 6 below: The symbol ÃŽÂ ± is the private sectors cash ratio, while ÃŽÂ ² represents bank reserves. Under the multiplier approach the money supply equation is then obtained by multiplying both sides of the equation with the monetary base B. Therefore, Equation 7 becomes: The rationale behind this is that assuming ÃŽÂ ± and ÃŽÂ ² are fixed or stable, the money supply is a multiple of the monetary base and can change only at the discretion of the authorities since the base consists entirely of central bank liabilities. The Flow of Funds approach says that money supplied is determined by open market operations. It presents the opposite view to the multiplier approach as those in favor believe that other factors determine the supply of money, not monetary authorities or policymakers, it looks at the demand for money not just the supply side. They also believe that banks are able to obtain reserves from central banks as required and are not a constraint. Under this approach credit or loans credit by the private sector create deposits and not the other way round as put forward by the base multiplier approach. The flow of funds model of money supply determination is as follows: Ms = Cp + Dc, the same definition of broad money supply as was used in the base multiplier approach (Equation 8) The next equation focuses on the changes in money supply, i.e: ΆMs = ΆCp + ΆDc (Equation 9) A change in deposit is matched by a corresponding change in loans, which can be further divided into loans to the private sector (Lp) and loans to the UK government (Lg): ΆDp = ΆLoans = ΆLp + ΆLg (Equation 10) Equation 9 could therefore be re-written as Equation 11 as follows: ΆMs = ΆCp + ΆLp + ΆLg The flow of funds approach was developed at a time when the UK government needed to borrow from banks to meet its requirements as issuing bonds was not sufficient. This had stopped being the case for a while, as the UK government was able to meet its requirements solely through the issue of bonds. Consequently, ΆLg can be further broken down to take into effect the monetary implications of the public sector deficit:  [4]   ΆLg = PSNCR ΆCp ΆGp + Άext (Equation 12) PSNCR stands for public sector net cash requirement; ΆGp represents sale of government bonds to the general public and Άext represents the monetary effect of official transactions in foreign exchange by the central bank (and this is equal to zero in a floating exchange rate regime)  [5]   Consequently, by substituting Equation 12 into Equation 11, obtains: ΆMs = ΆCp + ΆLp + PSNCR ΆCp ΆGp + Άext, which becomes Equation 13 as follows: ΆMs = PSNCR ΆGp + Άext + ΆLp Equation 13 shows a link between loan demand and the state of the economy.  [6]  As the total amount of goods and services produced within an economy grows, the demand for credit and a corresponding will also increase to finance the growth according to the flow of funds model. Deposits will also grow to match the increase demand. The differences of opinion between those in favor of the base multiplier approach and the flow of funds approach comes from how they view how money supply is determined. The base multiplier approach believes that money supply is exogenously determined while the flow of fund approach believes it is endogenously determined. Despite the differences, they do agree on the concept of the Quantity Theory of Money (QTM). QTM states that there is a direct relationship between the quantity of money in an economy and the level of prices of goods and services sold.  [7]  Heakal explains that if the amount of money in an economy doubles, price levels also doubles causing inflation. The consumer therefore pays twice as much for the same amount of the good or service.  [8]   The theory is denoted by the Fisher Equation: MV = PT; where M is the money supply, V is the velocity of circulation (i.e. the number of times money changes hands in an economy)  [9]  ; P is the average price level and T the volume of transactions of goods and services. Both approaches agree on the formula but disagree on the assumptions. In the case of the base multiplier approach, Friedman believes that V is constant (http://www.risklatte.com/BraveEconomist/02.php), and T is constant in the short term, while the flow of funds approach believes that V is a variable, with their rationale being that since consumer and businesses spending needs determine the number of times money changes hands in the economy, then V cannot be constant. While there is agreement that there is a direct relationship between the money supply and the level of prices of goods and services sold, the nature of that relationship is disputed. The base multiplier approach goes on the assumption that a change in money supply directly influences price levels and/or a change in supply of goods and services.  [10]  The endogenous argument believes the relationship works the other way round, i.e. that changes in price levels or in supply of goods and services results in changes in the money supply. So instead of the money supply being determined by the monetary authorities as the base multiplier approach believe, the flow of funds approach believe that it is actually interest rates that determine the money supply. Consequently, the role central banks or monetary authorities have played is only to set interest rates and let the commercial banks and consumers do the rest through demand and supply. In reality, it is clear that the endogenous view is more viable. In terms of velocity of circulation, statistical analysis shows that v rises during booms and deregulation and falls during slumps and reregulation  [11]  , therefore, making redundant the argument of people like Friedman that v is constant. Furthermore, the role of the central bank as a lender of last resort makes their ability to control the money supply almost impossible.  [12]  This is because they are guaranteed to provide funds to commercial banks as appropriate. This was seen in numerous instances during the recent global recession. For example, at the start of the economic crisis in 2007, the Chancellor of the Exchequer authorised the Bank of England to provide a liquidity support facility to Northern Rock against appropriate collateral and at an interest rate premium. This liquidity facility will be available to help Northern Rock to fund its operations during the current period of turbulence in financi al markets while Northern Rock works to secure an orderly resolution to its current liquidity problems  [13]. We have seen that the two approaches to money supply determination are influenced by the exogenous and endogenous views. The exogenous view lends credibility to the base multiplier approach and asserts that an external agent monetary authorities or the policymaker determines the supply of money, while the endogenous approach believes this is done through open market operations. The only way the policymaker intervenes, according to endogenous views is by setting interest rates. Thereafter, the commercial banks and their customers take over the process which of demanding and supplying credit which ultimately determines the money supply in an economy. The base multiplier approach will never and has never been used, the flow of funds model is thought of as being a better model for the money supply as it takes account of demand and supply. In reality the endogenous approach of the flow of funds is at work. Contrary to the exogenous approach insinuating that the money supply is independent of interest rates, the endogenous approach believes that the higher the demand for loans the higher the interest rates which encourages banks to lend more. Therefore modern economies recognise that the policymaker sets short-term interest rates and the quantities of money and credit are demand-determined.

Connecting Babylon Revisited, My Life, and the Life of F. Scott Fitzger

      It is no wonder, that when students read literature, some are confused about the meaning of the story or poem, know little, if anything at all, about the author, and have trouble memorizing important points. This is not only because of the limited time allowed, but because the student fails to associate new knowledge with old knowledge. Making a personal connection is important whether the instructor recommends it or not. Attention should be given to both the technical points of the writing and the author's biography. Take, for example, F. Scott Fitzgerald's "Babylon Revisited." At first glance, the story wasn't that hard to understand, so it was a good opportunity to study a piece of 20th century American literature in a deeper way.      "Babylon Revisited" is often credited for being one of Fitzgerald's greatest short stories. As Professor Jackson Bryer states on a web site interview, "[It combines] Fitzgerald's human themes of loss with a background of the social times in which they take place. ...Paris in the Twenties. ...[These aspects] give them a resonance (the personal story played within a larger picture) which many of Fitzgerald's other stories lack" (1). Bryer also feels that "FSF should be remembered and valued most for the 'how' of his fiction rather than the 'what' of it, namely his style is what makes him exceptional, not his subject matter. ...he does have the ability to capture feeling and emotion brilliantly as well. Gatsby's frustration, Charlie Wale's exasperation, ... these are palpably present to readers."    Composed in 1931 and published in 1935, "Babylon Revisited" is "the s... ... in Minnesota: His Homes and Haunts. St. Paul: Minnesota Historical Society Press, 1978.    McMichael, George. Anthology of American Literature / Volume II: Realism to the Present. (6th ed.). New Jersey : Prentice Hall, Inc., 1997.    Miller, Larry. "Pioneer Planet Fitzgerald Tour." 1996. http://www.special.pioneerplanet.com/archive/fitzgerald/tour.htm. 21 May 1998.    Murphy, Gary and William C. Slattery. "The Flawed Text of 'Babylon Revisited': A Challenge to Editors, a Warning to Readers." Studies in Short Fiction 18.3(1981):315-318.    Page, Dave and John Koblas. F. Scott Fitzgerald in Minnesota: Toward the Summit. St. Cloud: North Start Press of St. Cloud, 1996.    Shain, Charles E. "F. Scott Fitzgerald." University of Minnesota pamphlets on American Writers 15, 1961.

Overview of Fmcg Sector

An Overview of the FMCG Industry in India chillibreeze writer — Shital Vakhariya Looking for more info Read our more comprehensive report of the same at: India-Reports Read more about Discount Retailing   Ã‚  | | | What are Fast Moving Consumer Goods (FMCG)? Products which have a quick turnover, and relatively low cost are known as Fast Moving Consumer Goods (FMCG). FMCG products are those that get replaced within a year.Examples of FMCG generally include a wide range of frequently purchased consumer products such as toiletries, soap, cosmetics, tooth cleaning products, shaving products and detergents, as well as other non-durables such as glassware, bulbs, batteries, paper products, and plastic goods. FMCG may also include pharmaceuticals, consumer electronics, packaged food products, soft drinks, tissue paper, and chocolate bars. A subset of FMCGs are Fast Moving Consumer Electronics which include innovative electronic products such as mobile phones, MP3 players, digital c ameras, GPS Systems and Laptops.These are replaced more frequently than other electronic products. White goods in FMCG refer to household electronic items such as Refrigerators, T. Vs, Music Systems, etc. In 2005, the Rs. 48,000-crore FMCG segment was one of the fast growing industries in India. According to the AC Nielsen India study, the industry grew 5. 3% in value between 2004 and 2005. Indian FMCG Sector | | The Indian FMCG sector is the fourth largest in the economy and has a market size of US$13. 1 billion. Well-established distribution networks, as well as intense competition between the organised and unorganised segments are the characteristics of this sector.FMCG in India has a strong and competitive MNC presence across the entire value chain. It has been predicted that the FMCG market will reach to US$ 33. 4 billion in 2015 from US $ billion 11. 6 in 2003. The middle class and the rural segments of the Indian population are the most promising market for FMCG, and give bra nd makers the opportunity to convert them to branded products. Most of the product categories like jams, toothpaste, skin care, shampoos, etc, in India, have low per capita consumption as well as low penetration level, but the potential for growth is huge.The Indian Economy is surging ahead by leaps and bounds, keeping pace with rapid urbanization, increased literacy levels, and rising per capita income. The big firms are growing bigger and small-time companies are catching up as well. According to the study conducted by AC Nielsen, 62 of the top 100 brands are owned by MNCs, and the balance by Indian companies. Fifteen companies own these 62 brands, and 27 of these are owned by Hindustan Lever. Pepsi is at number three followed by Thums Up. Britannia takes the fifth place, followed by Colgate (6), Nirma (7), Coca-Cola (8) and Parle (9).These are figures the soft drink and cigarette companies have always shied away from revealing. Personal care, cigarettes, and soft drinks are the t hree biggest categories in FMCG. Between them, they account for 35 of the top 100 brands. Exhibit I THE TOP 10 COMPANIES IN FMCG SECTOR S. NO. | Companies| 1. | Hindustan Unilever Ltd. | 2. | ITC (Indian Tobacco Company)| 3. | Nestle India| 4. | GCMMF (AMUL)| 5. | Dabur India| 6. | Asian Paints (India)| 7. | Cadbury India| 8. | Britannia Industries| 9. | Procter & Gamble Hygiene and Health Care| 10. | Marico Industries| Source: Naukrihub. comThe companies mentioned in Exhibit I, are the leaders in their respective sectors. The personal care category has the largest number of brands, i. e. , 21, inclusive of Lux, Lifebuoy, Fair and Lovely, Vicks, and Ponds. There are 11 HLL brands in the 21, aggregating Rs. 3,799 crore or 54% of the personal care category. Cigarettes account for 17% of the top 100 FMCG sales, and just below the personal care category. ITC alone accounts for 60% volume market share and 70% by value of all filter cigarettes in India. The foods category in FMCG is g aining popularity with a swing of launches by HLL, ITC, Godrej, and others.This category has 18 major brands, aggregating Rs. 4,637 crore. Nestle and Amul slug it out in the powders segment. The food category has also seen innovations like softies in ice creams, chapattis by HLL, ready to eat rice by HLL and pizzas by both GCMMF and Godrej Pillsbury. This category seems to have faster development than the stagnating personal care category. Amul, India's largest foods company, has a good presence in the food category with its ice-creams, curd, milk, butter, cheese, and so on. Britannia also ranks in the top 100 FMCG brands, dominates the biscuits category and has launched a series of products at various prices.In the household care category (like mosquito repellents), Godrej and Reckitt are two players. Goodknight from Godrej, is worth above Rs 217 crore, followed by Reckitt's Mortein at Rs 149 crore. In the shampoo category, HLL's Clinic and Sunsilk make it to the top 100, although P;amp;G's Head and Shoulders and Pantene are also trying hard to be positioned on top. Clinic is nearly double the size of Sunsilk. Dabur is among the top five FMCG companies in India and is a herbal specialist. With a turnover of Rs. 19 billion (approx.US$ 420 million) in 2005-2006, Dabur has brands like Dabur Amla, Dabur Chyawanprash, Vatika, Hajmola and Real. Asian Paints is enjoying a formidable presence in the Indian sub-continent, Southeast Asia, Far East, Middle East, South Pacific, Caribbean, Africa and Europe. Asian Paints is India's largest paint company, with a turnover of Rs. 22. 6 billion (around USD 513 million). Forbes Global magazine, USA, ranked Asian Paints among the 200 Best Small Companies in the World Cadbury India is the market leader in the chocolate confectionery market with a 70% market share and is ranked number two in the total food drinks market.Its popular brands include Cadbury's Dairy Milk, 5 Star, Eclairs, and Gems. The Rs. 15. 6 billion (USD 380 Mill ion) Marico is a leading Indian group in consumer products and services in the Global Beauty and Wellness space. Scope Of The Sector| | | The Indian FMCG sector with a market size of US$13. 1 billion is the fourth largest sector in the economy. A well-established distribution network, intense competition between the organized and unorganized segments characterize the sector. FMCG Sector is expected to grow by over 60% by 2010. That will translate into an annual growth of 10% over a 5-year period.It has been estimated that FMCG sector will rise from around Rs 56,500 crores in 2005 to Rs 92,100 crores in 2010. Hair care, household care, male grooming, female hygiene, and the chocolates and confectionery categories are estimated to be the fastest growing segments, says an HSBC report. Though the sector witnessed a slower growth in 2002-2004, it has been able to make a fine recovery since then. | | For example, Hindustan Levers Limited (HLL) has shown a healthy growth in the last quarte r. An estimated double-digit growth over the next few years shows that the good times are likely to continue.Growth Prospects With the presence of 12. 2% of the world population in the villages of India, the Indian rural FMCG market is something no one can overlook. Increased focus on farm sector will boost rural incomes, hence providing better growth prospects to the FMCG companies. Better infrastructure facilities will improve their supply chain. FMCG sector is also likely to benefit from growing demand in the market. Because of the low per capita consumption for almost all the products in the country, FMCG companies have immense possibilities for growth.And if the companies are able to change the mindset of the consumers, i. e. if they are able to take the consumers to branded products and offer new generation products, they would be able to generate higher growth in the near future. It is expected that the rural income will rise in 2007, boosting purchasing power in the countrys ide. However, the demand in urban areas would be the key growth driver over the long term. Also, increase in the urban population, along with increase in income levels and the availability of new categories, would help the urban areas maintain their position in terms of consumption.At present, urban India accounts for 66% of total FMCG consumption, with rural India accounting for the remaining 34%. However, rural India accounts for more than 40% consumption in major FMCG categories such as personal care, fabric care, and hot beverages. In urban areas, home and personal care category, including skin care, household care and feminine hygiene, will keep growing at relatively attractive rates. Within the foods segment, it is estimated that processed foods, bakery, and dairy are long-term growth categories in both rural and urban areas. Indian Competitiveness and Comparison with the World MarketsThe following factors make India a competitive player in FMCG sector:? Availability of raw ma terials Because of the diverse agro-climatic conditions in India, there is a large raw material base suitable for food processing industries. India is the largest producer of livestock, milk, sugarcane, coconut, spices and cashew and is the second largest producer of rice, wheat and fruits &vegetables. India also produces caustic soda and soda ash, which are required for the production of soaps and detergents. The availability of these raw materials gives India the location advantage. Labor cost comparison Low cost labor gives India a competitive advantage. India's labor cost is amongst the lowest in the world, after China ;amp; Indonesia. Low labor costs give the advantage of low cost of production. Many MNC's have established their plants in India to outsource for domestic and export markets. ? Presence across value chain Indian companies have their presence across the value chain of FMCG sector, right from the supply of raw materials to packaged goods in the food-processing s ector. This brings India a more cost competitive advantage.For example, Amul supplies milk as well as dairy products like cheese, butter, etc. | Strategic Intent We intend to significantly accelerate profitable growth. To do this, we will: * Focus on growing our core brands across categories, reaching out to new geographies, within and outside India, and improve operational efficiencies by leveraging technology * Be the preferred company to meet the health and personal grooming needs of our target consumers with safe, efficacious, natural solutions by synthesizing our deep knowledge of ayurveda and herbs with modern science * Provide our consumers with innovative products ithin easy reach * Build a platform to enable Dabur to become a global ayurvedic leader * Be a professionally managed employer of choice, attracting, developing and retaining quality personnel * Be responsible citizens with a commitment to environmental protection * Provide superior returns, relative to our peer gr oup, to our shareholders * Dabur India Limited | * Dabur India Limited is India's leading FMCG company with interests in health care, personal care and foods. Dabur has a history of more than 100 years and the company has carved a niche for it self in the field of Ayurvedic medicines.The products of Dabur are marketed in more than 50 countries worldwide. The company has 2 major strategic business units (SBU) – Consumer Care Division (CCD) ;amp; Consumer Health Division (CHD), and 3 Subsidiary Group companies – Dabur Foods, Dabur Nepal and Dabur International. Dabur International has 3 step down subsidiaries – Asian Consumer Care in Bangladesh, African Consumer Care in Nigeria and Dabur Egypt. The origin of Dabur can be traced back to 1884 when Dr. S. K. Burman started a health care products manufacturing facility in a small Calcutta pharmacy.In 1896, as a result of growing popularity of Dabur products, Dr. Burman set up a manufacturing plant for mass production of formulations. In early 1900s, Dabur entered the specialized area of nature based Ayurvedic medicines. In 1919, Dabur established research laboratories to develop scientific processes and quality checks. In 1936, Dabur became a full-fledged company with the name Dabur India (Dr. S. K. Burman) Pvt Ltd. Dabur shifted its operations to Delhi in 1972. Dabur became a Public Limited Company in 1986 and Dabur India Limited came into existence after reverse merger with Vidogum Limited.In 1992, Dabur entered into a joint venture with Agrolimen of Spain to manufacture and market confectionary items in India. In 1994, Dabur raised its first IPO. In 1998, day to day running of the company was handed over to professionals. In 2000, Dabur achieved a turnover of Rs 1000 crores. In 2005, Dabur acquired Balsara. Dabur crossed $ 2 billion market cap in 2006. Some of the well-known brands of Dabur are: Amla Chyawanprash, Hajmola, Lal Dantmanjan, Nature Care, Pudin Hara, Babool Toothpaste, Hingoli, D abur Honey, Lemoneez, Meswak, Odonil, Real, RealActiv and Vatika.

Mixed Race Essay

Way Back in 1997, famous golf player Tiger Woods shocked the world by describing himself as â€Å"Cablinasian,† representing the totality of his racial background – a combination of â€Å"Caucasian,† â€Å"Black,† â€Å"American Indian,† and â€Å"Asian† heritage (Nagai, 2010, p. 1). The U. S. is the most racially diverse country in the world thanks to immigration. And because native-born Americans have been more accepting and welcoming of interracial relationships, an incline in the percentage of intermarriages and multiracial children is predictable (Nagai, 2010, p. 4). All races of people thrive here. Currently, 9% of the school population is reported to be multiracial and the number is expected to increase to 21% by 2050 (Brown, 2009, p. 124). Biracial population, as a branch of multiracial population, refers individuals whose parents are of different single races (Gullickson, & Morning, 2011, p. 498). Attention has been drawn to multiracial/biracial people lately due to the increasing exposures of famous multiracial/biracial people. The most obvious example will be Barack Obama, current President of the Untied States of America, whose father is African and mother is white American (Chang- Ross, 2010, p. 108). Besides the fact that multiracial people’s excellence in various domains is acknowledged, another significant reason for scholars to be interested in racially-mixed people is that federal government made an adjustment in its official classification system recently and allow individuals to choose more than one race which apply (Gullickson, & Morning, 2011, p. 498). It is exciting that multiracialism brings all races closer; however, it also raises problems due to its complexity. Multiracial people’s appearances are usually exotic and hard for people to define their races. â€Å"What are you? † is probably the most commonly odd questions they receive when meeting new people (Chang- Ross, 2010, p. 108). Even though it is not a pleasant question to be asked, it still shows that people understand the racial entirety of a mixed race individual rather than solely classify s/he in an exclusive race category. Tiger Woods’ self-identification as multiracial caused a controversy and challenged the world on its old belief for centuries that racial category is homogenous (Nagai, 2010, p. 1). And due to historical reasons, several conventions are assigned to identify mixed race people. The most well-known one is called â€Å"one drop rule†Ã¢â‚¬â€œ if an individual has any known African ancestry, s/he will be categorized as black socially and officially (Gullickson, & Morning, 2011, p. 499). Therefore it is hard for the society to accept the concept of defining a person in more than one race in a short period. And because of the exclusive race categorization, racially mixed people face a difficult time to be accepted as a totality of all their heritages by other. Tiger Woods expressed that he felt troubled when people only identify him as African American because of his skin color (Hall, 2001, p. 334). Studies show that racially mixed people tend to have higher depression symptoms and lower self-esteem if part of their heritages is not acknowledged by other people (Townsend, Markus, &Bergsieker 2009, p. 193). Since multiracial population refer to a huge number of people, my paper will emphasize on the issues of biracial people. It is necessary for the society to respect biracial people’s identity choices, therefore people need to understand that family Influences, public impacts and self – realization work together for biracial people to conclude their self-identities and build up their self-respects. It is necessary to be clarified that young children are not cognitive to races, therefore people’s realization of racial distinctions start at early teenage time ((Townsend, Markus, &Bergsieker 2009, p. 193). Ever since then, family, society and selves will each play a dominant role in mixed race people’s identification choices chronically.