The Effect of Cohabitation on Marriage Essay - 3030 Words

Abstract The Effect of Cohabitation on Marriage Several published studies look at the increase in premarital cohabitation and the effect of premarital cohabitation on the traditional marriage relationship from the 1960s to present. Issues considered are marital satisfaction, marital stability, marital communication, and incidents of divorce within each group. Contrary to common perceptions, studies on couples who cohabitated prior to marrying indicate marriages that are less satisfactory, less stable, report poorer communication and higher incidents of divorce when compared to couples who did not cohabitate prior to marriage. Factors that attempt to explain these results are explored. The Effect of Cohabitation on Marriage Finding†¦show more content†¦Cohabitation is far more common in other countries such as Sweden, Canada and some Latin American countries and in some cases considered to be legally the same as marriage (Seltzer, 2000, Hall Zhao, 1995). This paper will focus on cohabitation research as it relates to North American culture and how it effects the traditional institution of marriage. Due to the large amount of research that has been done on this subject this paper will be limited to the effects of cohabitation on first marriages. Cohabitation used to be considered an unacceptable lifestyle, but data collected over the past twenty years has shown a steady increase over previous generations. In 1980 there were 1.6 million cohabiting couples; by 1990 about 2.9 million couples were cohabiting, and by 1997 that number had increased by 46% to over 4.1 million (Seltzer, 2000; U.S. Bureau of the Census, 2000, Table 57). Cohabitation is considered to be Ââ€Å"an arrangement of convenience that provides more intimacy, more secure involvement, and less restricted sexual relations than just dating or courting. Possibly, there are some social and economic advantages and conveniences as well† (Tanfer, 1987, p. 494). Two distinct groups of cohabiting couples have been identified. One group consists of couples who intend to marry and are using this time as a stage in the courtship process. Most cohabitors fallShow MoreRelated`` Cleaning Up Their Act `` : Effects Of Marriage And Cohabitation On Licit And Illicit Drug Use961 Words   |  4 Pagesact: The effects of marriage and cohabitation on licit and illicit drug use†, is whether an individual’s frequency of engaging in health-risk behaviour is impacted by marriage and cohabitation. More precisely, the authors investigated the effect of young adults’ first experience with marriage and cohabitation on binge drinking, marijuana use and cigarette smoking. According to the Centres for Disease Control and Prevention (2014; 2015), participating in these behaviours has adverse effects on an individual’sRead MoreCohabitation And Marriage : Marriage1669 Words   |  7 Pages Cohabitation and Marriage Lauren Pfeifer Dr. Richard White Christian Marriage 16 April 2014 Cohabitation and Marriage Cohabitation is an increasingly popular relationship reality in the United States. Many individuals seek a cohabiting relationship as preparation for marriage; however, studies have shown that this has adverse effects on relationship satisfaction and stability within marriage. Many factors have been theorized to contribute to this effect. No matter the cause of the correlationRead MoreCohabitation Between Cohabitation And Marriage1559 Words   |  7 PagesIn today’s society cohabitation before marriage has become more prominent than it was in past decades. Cohabitation simply means two individuals are living together unmarried. There are several agreements that support and oppose this topic because of the individuals’ different religion, ethic, and morality. Growing up, I frequently heard living together before marriage often leads to higher risks of divorce later on. As society changes, I believe that people have a different opinion of this beliefRead MoreEssay on Premarital Cohabitation924 Words   |  4 PagesPremarital Cohabitation is a rapidly growing phenomenon in our society today. Cohabitation is defined as two people living in the same household who are unrelated, and of the opposite sex (Kunz, 2012). There are many studies that state disadvantages to cohabitating, before marriage, but at the same time there are many studies stating little to no difference in cohabitating couples and couples who did not cohabitate before marriage. There are quite of few different types of cohabitation before marriageRead MoreShould Cohabitation Before Marriage Be Encouraged761 Words   |  4 PagesShould Cohabitation Before Marriage be Encouraged? In the 21 century, marriage is no longer considered as a life binding commitment to one person. A decrease in the number of marriages and an increase in cohabitation both have come in the wake of a large increase in divorce in the last thirty years (David G. Green, 2000). Cohabitation is more popular nowadays because the current generation would like to know whether they are compatible. They also can see the habit and character of their partnerRead MoreThe Downside Of Living Together1203 Words   |  5 Pages2012, which discusses effect from cohabitation. Jay points out that couples who cohabitate before marriage are more liable to divorce as opposed to couples who do not. Jay states that reasons to cohabitate often differ between partners. Women tend to see cohabitation as an act toward marriage. In contrary, men lean towards the idea that cohabitation is a form of a â€Å"test† or postpone marriage in a relationship. Jay continues that sometimes it is hard to get out of a cohabitation relationship due toRead MoreThe Trial Period Before Marriage1670 Words   |  7 PagesTrial Period before Marriage PART A For many decades, cohabitation has been a common trend and is steadily on the rise, especially in the United States. It has been labeled â€Å"the norm† for couples to live together before marriage. Cohabitation has taken research into a new level and new research is evolving day by day with factors related to cohabitation first and marriage next. The types of research that is currently present in today’s society is information on cohabitation and economic factorsRead MoreThe Pros And Cons Of Cohabitation Before Marriage1563 Words   |  7 PagesCons of Cohabitation before Marriage Introduction Social scientists have defined cohabitation as a situation where two adults, male and female live together in a relationship that is intimate and non-marital. The two make living arrangements without legal bounds to stay together before getting married. In most of the countries and in this case in the United States, cohabitation is a common feature among the American family life (Stokes Raley, n.d). It has become a typical pathway to marriage henceRead MoreRelationship Between Cohabitation And Divorce810 Words   |  4 PagesCohabitation is categorized as two people engaged in an intimate relationship residing in the same home permanently or for an extended amount of time. Research denotes a strong correlation between cohabitation and divorce. The research findings are significant for couples and counselors and can have impact on how counselors approach clients in couples counseling and pre-marital counseling. When evaluating cohabitation, various reasons contribute to the forma tion of couples deciding to reside togetherRead MoreCohabitation And Its Effects On The Stability Of Relationship Essay1278 Words   |  6 PagesIn 2016, cohabitation is increasingly more common amongst couples in the United States. Simultaneously, cohabitation is a family form that progressively includes children (Manning Lamb, 2003). Additionally, marital status serves as an indicator of qualities and characteristics of the child’s family life. Existing literature specifies that children in cohabiting stepparent families fare worse than children living with two married, biological parents (Manning Lamb, 2003). As cohabitation is occurring

Rhetorical Analysis Of College IsnT For Everyone - 729 Words

In a May 2003 persuasive article published by USA Today titled â€Å"College isn’t for Everyone†, the author W.J. Reeves states â€Å"about 15 million people in America are enrolled in college.† This is a staggering amount considering the fact that many people are in college for all the wrong reasons. About half of the Americans enrolled in college are there because they feel they owe it to their families. Only a small number of Americans in college actually feel it is necessary for successful lives. In this article, Reeves recollects on his experiences as a college English professor at an institution in New York. He speaks of how he believes that many students truly do not want to be in college. You can tell this by his stories of tardiness,†¦show more content†¦Ã¢â‚¬Å"The test-takers were college graduates from every state and from countries around the world. Fully two-thirds of the essays I scored would not have passed my freshman composition class, y et I was expected to give a score of 4 (Passing) to such writing and, apparently, the graduate schools of business accepted such students† (Reeves pg.4). Throughout the article, Reeve uses his background in his career to support his opinion. Since he has knowledge through â€Å"grading of tests† readers can easily be persuaded to agree with his opinion. Lastly, the strongest rhetorical device throughout the article is the appeal to pathos. The intended audience of this article would have to be the parents of â€Å"underachievers.† Reeves uses the quote â€Å"The inmates are running the asylum† to evoke strong emotions from the readers. One would feel inclined to feel sympathy for the teachers. The readers can sympathize with the teachers because although the students aren’t doing well, teachers will look ad and possibly face unemployment if they fail an entire class. Also, referring to students as inmates could causes parents to feel guilty because their children are primarily prisoners. Some students get into the college of their parents’ dreams and feel â€Å"stuck.† They feel as if they are living life unhappily on the day-to-day basis and are prisoners of their own minds. To get even more in depth, calling the school an asylum means that the establishment is unruly or

Half a Defense of Positive Accounting Research

Question: Discuss about theHalf a Defense of Positive Accounting Research. Answer: Introduction The title of the study is half a defense of positive accounting research. The article at the very beginning itself states that the author has used positive accounting theory partially in his study to complete the same. Title of the study also denotes that author has used the positive accounting theory as a defense for building up the research program as discussed in the study. Positive accounting theory make the user understands the event that has not been seen and any phenomena that have not been observed. Along with this the major drawback of the theory is that it does not guide the others to act differently in the different situations relating to an event or phenomena. In the study, the author has construed the positive accounting as wider research program. The main aim of the study is to explain the human behavior in casual manner in the accounts and the argument within which whole study has been framed is to assess whether the positive accounting theory has contributed towards t he successful completion of the scientific project in the efficient and effective manner. The study has very defined structure and has been framed into various sections. At the very beginning of the study abstract of the study has been given detailing the summary of the article. The study starts with the Introduction stating that the paper has been formed to examine the positive approach towards the accounting research and that too has been considered as a wider scientific project. In this part of the study light has been thrown on the deficiencies suffered by the research program in applying the positive accounting theory and have mentioned that the study has received many criticisms from the community which understands that the scientific project is important for any study. In the second section, scientific research project has been explained. Greek mythology, view of the sophists and the hypothesis has been considered for explaining the how much the concept scientific project is important. In the third sections various examples have been listed for positive research in the field of accounting and it could not be made as exhaustive. Various references have been quoted for providing examples. The main aim of the study has been described in this section which provides the nature of existence and the correctness of the fact pertaining to the scientific research project. Thereafter, the testing is done using statistical methods. After analyzing the results of the testing, various points have been mentioned containing the things that are required to make the program as successful research program. In the seventh section, the gap between the actual practice of research program and how it was though has been described and analyzed. Lastly the study has been concluded with the ending note that the program shall be operated with planned manner so as to remove any hindrances or deficiencies therein. Summary of The Article The main argument of the article is that how much contribution has been made by the positive accounting theory in the successful completion of the positive accounting research program. The author in title itself has said that the positive accounting theory has been used as part of the study dealing with the wider scientific research program. Watts and Zimmerman has confirmed that the positive accounting theory is much wider than the positive accounting research program. It is because the theory only describes that the phenomena of an accounting is caused by the operation of the rational human behavior and that too is self centered in any type of an organization whether big or small (Watts and Zimmerman,1990 and Miller, 2001). On the other hand scientific research program for accounting considers other non rational factors like how the auditors of the organization reach at the conclusion and judge the transaction and report in the auditor report accordingly. The author has started fro m the point of view of 2500 years ago Greek mythology and philosophy of sophists and other and have reached at the interpretations made by modern theorists and critiques. Major fact which has been noticed and observed in all the old and modern theories is that the rational behavior of human plays major role in positive accounting theory but the author has violated the provision and has stated that the factors other than rational behavior of human also plays important part and it shall not be ignored. He has considered various valuation and statistical models to support his arguments (Christenon, 1983). Thus, the study has been able to state that there are other factors also which makes the positive accounting theory as part of the research program. Research Question The author has defined and focused on two research questions and both are interrelated to each other and have been carried forward in the study simultaneously. First question of research in the study is that the positive accounting theory is a part of the huge scientific project which is named as positive accounting research project. The same has been witnessed by the Watts and Zimmerman in the third section of the study stating that positive accounting research is much wider than the positive accounting theory. It shows that the question of research has been agreed by one of the theorists. The second question of research is first to identify whether the positive accounting theory has been able to contribute in meaningful manner towards the wider scientific project and secondly analyzing the same using various statistical and mathematical models. He has used Poppers criterion and other models and the questions have been deeply followed in the fifth section of the study consisting of hypothesis and falsification testing. The two research questions have further flowed through the next section by listing the factors which are required for the successful positive research program. Auditor and Audi tee relationship has been used in making the two research questions understandable to the users in easy manner. By including the financial parameters also, the study has gained much weight age as more people are interested in knowing the facts through mathematical figures and graphical representation rather than from discussing plethora of theories from the old age to modern age. Thus, the questions of the research have been uniformly discussed and flowed throughout the study and have made the study more focused and informative. Article - Theoretical Framework To do any kind of work or activity or task or function, one should have prepared his or her mind and develop the layout within which he or she has to perform. This layout will help in completing that work on step to step basis without any confusion. This layout is termed as framework (Outline of Positive Accounting Theory). Framework is required for each and every kind of work whether it relates to the profession of medical or accounting or engineering or any other profession. This framework may be of any form imaginative, based on the theories, based on the practical component or any other form as per the requirement of the user. In the absence of the proper and adequate framework the work will be done in unsystematic manner (Sterling, 1990). In the article under study, author has developed the framework within which whole of the study has been flowed and come out with the efficient and useful results. At the beginning of the study, framework has been developed using Kuhn Model which states that the research program may be model which helps in solving puzzles and that too in small social group irrespective of the fact of having the contribution from the solved puzzles to the research program (Kuhn, 1970). This view has been supported by Lee as the same is prevalent in the group of Elite. After this an imaginative framework was developed using these hypothesis: With independent of imagination, world is there, Events that happen in the world are totally part of it. One cannot argue that it is random or has occurred from outside world, Information can be obtained by fairly normal people and The purpose of the enquiry is to gain an understanding of the world to the fullest. Thereafter, Greek mythology about 2500 years ago has been framed stating that the world can be understood by having rational behavior rather than by focusing on other beings like god, spirits, demons etc. The framework was further extended by the use of theory of Sophists. They argued that: Nothing exists, If in any case something exists, then no one is apprise from it and In case someone is apprise of it then he or she would not be able to pass this fact to other people. Then, framework has further developed by citing the example of different studies including Watts and Zimmerman, De Angelo and Fukuyama, etc. While conducting the falsification and hypothesis testing, framework has been developed by citing the Poppers Criterion which states that: Development of ideas at first by observing, Development of formal theory Predictions are tested Repeating the step second and third till the best results are achieved. This criterion helps to approve or disapprove the theories. Thus, the author has developed the framework stage wise and has built the base for conducting the study in true spirit. Articles Significance and Limitations The article has gained importance since it has been published. The article has been made useful for every field of research. There are many reasons for its gaining importance. One of such reason is that the article has been developed very sequential and has been prepared in the manner which can be easily understood by the common lay man. Along with this, the framework which the author has developed, the examples, which the author has quoted and the flow of event which the author has prepared throughout the study has made the article not only meaningful but also attractive. Along with the significance, the study has been suffered by many limitations and that too has been acknowledged by the author. One of such limitation is that the model containing puzzle solving capability does not give an arm that provides its contribution to the wider scientific research project which is the main aim of the study. The fact has been disclosed at the time of describing the Kuhn model. Thereafter, th is limitation has further acknowledged by the author by quoting the model of Lee. Second limitation that has been acknowledged by the author is that while performing the tests, quality problems may arise. For that author has mentioned the requirements of having successful research program. But in spite of having the limitations, it will not be worthwhile to mention here that the articles significance has been hampered in any manner. Conclusion Positive Accounting theory helps in explaining the human behavior in the occurrence of any accounting phenomena. The author in this article has utilized the positive accounting theory so as to describe the huge scientific project namely Positive Accounting research program. The main aim of the study is to analyze the human behavior and to analyze and interpret how much contribution has been made by the positive accounting theory towards the wider scientific project of research program. The author has started from Kuhn model stating the non contribution towards the scientific project and has ended up with the poppers criterion. The study has been very well planned and the main objective of the study has been flowed throughout the article. The author has described various theories and models including Kuhn model, Lee model, Greek Mythology, Sophists theories, theory of imaginative world, examples from various studies including Watts and Zimmerman, De Angelio, etc. After developing the framework, the tests have been performed using hypothesis testing and falsification methods as given by Popper. Other valuation techniques were adopted. More importantly, the auditor and auditee relationship has been very well explained and the major fact has been disclosed that the scientific research program considers not only the human behavior but also other non rational factors like complexity of transactions, scale of business, audit fees, earlier frauds if any committed by the personnel of an organization, etc (Choi and Simunic, 2009). Along with this the number of points has been laid down which shall be considered for developing an effective and efficient scientific research program. Thereafter, the article has been ended up with the conclusion. Thus, in order to conclude, the study has made contribution towards the development of scientific research program. References Watts R. and Zimmerman L. (1990), Positive Accounting Theory : A Ten YearPerspective,availableon https://faculty.etsu.edu/pointer/watts%26zimmerman2.pdf accessed on 04/02/2017. Choi, Simunic DA, (2009), Cross Listing Audit Fee Premiums: Theory and Evidence, The Accounting Review Vol 84, Pg 1452-1463 Hannam J, (2009), How the Medieval World laid the foundations of Modern Science, London. Milne M, (2001), Positive Accounting Theory, Political Costs and Social Disclosure Analysis : A Critical Look, available on https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.199.7620rep=rep1type=pdf accessed on 04/04/2017. Outline of Positive Accounting Theory available on www.umanitoba.ca/faculties/management/acctfin/courses/.../group84.doc accessed on 05/02/2017. Sterling R, (1990), Positive Accounting : An Assessment , ABACUS, pages 98-130 Christenson C, (1983), The methodology of positive accounting. The Accounting Review 58 (1), 1-22. Kuhn T. S., (1970), The structure of scientific revolutions, 2nd Edition, University of Chicago Press, Chicago.

Strategic Analysis of LOreal Essay Example For Students

Strategic Analysis of LOreal Essay LOREALINTRODUCTIONStrategy analysis focuses on the long-term objective generating alternative strategies, and selecting strategies to pursue. The firms present strategies, objectives and mission, couple with the external and internal audit information, provide a basis for generating and evaluating feasible alternative strategies (David 200). LOreal has numerous competitors. To have an advantage on competition, LOreal has to apply some strategies that include internal audit information and external opportunities that will make the company stronger. They will also prevent competitors to have an advantage over LOreal. This report will be based upon the effectiveness of current strategies of LOreal, a real global leader in every segment of the industry. We will write a custom essay on Strategic Analysis of LOreal specifically for you for only $16.38 $13.9/page Order now CURRENT STRATEGIESLOreal encounters threats and opportunities and they have weaknesses and strengths. It is known as the TOWS matrix. It is an important matching tool that helps managers develop four types of strategies: SO Strategies, WO Strategies, ST Strategies and WT Strategies. The external opportunities and threats were identified earlier (see part 1) by developing the External Factor Evaluation Matrix and Competitive Profile Matrix is important for the current strategies development. LOreal internal strengths and weaknesses will be discussed further in this report. SO StrategiesSO Strategies uses the internal strengths to take advantage of external opportunities of a firm. LOreal has always taken these advantages with their new innovations and global expansion. The company is reaching out to more people across a bigger range of income and cultures than just about any other beauty-products company in the world. LOreal strategy positions it beautifully to profit even further when the middle class begins to grow stronger in emerging markets. That makes LOreal competitors more hustling to catch up. WO StrategiesWO strategies aim at improving internal weaknesses by taking advantage of external opportunities. Laws and governmental regulations require companies such as LOreal to maintain certain standard in quality and responsibility for their product. Rules may vary depending on the country. LOreal also have it own set of regulations that are very strict on quality. Whatever product is put on the market, one can be sure that it has gone through a ver y thorough and scientific series of tests. Those tests are usually even more severe than any regulation, so that the company is assured of the quality of the product. ST StrategiesST strategies use a firms strengths to avoid or reduce the impact of external threats. LOreal has made strategic acquisitions that strengthen its position in different categories. By doing so, they have taken hold as a leading position that other companies have trouble matching. As an example, LOreal can now offer product to Black consumers, because it has acquired Carson Inc that specialize in cosmetic products for black consumers. By achieving this significant progress in the ethnic beauty market, they avoid the threat of losing to other competitors. WT StrategiesWT strategies are directed at reducing internal weaknesses and avoiding environmental threats. As a company, LOreal has commitments to its employees by training and recruiting people with talents. It avoids having to face losing potential employees to competitors. Their reputation of performance is an everyday reality for LOreal Group. Employees have the opportunity to be innovative and that leads to more responsible and committed personal. EFFECTIVENESS OF STRATEGIESLOreal capitalize on opportunities in the global market. They are international with laboratories on three continents: in Europe, the United State of America, and Asia. They have test centers in many countries, enabling a better understanding of local customers preferences. Their increasingly global outlook, ensure a better and closer identification of specific local requirements. Now acquisitions enable LOreal to new developments in rich segment. STRATEGY RECOMMENDATION AND JUSTIFICATIONLOreal strategy is a well-developed fact. It has adapted to every particular environment. It will differ from one country to another with the basic plan that is molded to the need and function of the company. .u2a3f867d836b8df68817e1d326d14ca0 , .u2a3f867d836b8df68817e1d326d14ca0 .postImageUrl , .u2a3f867d836b8df68817e1d326d14ca0 .centered-text-area { min-height: 80px; position: relative; } .u2a3f867d836b8df68817e1d326d14ca0 , .u2a3f867d836b8df68817e1d326d14ca0:hover , .u2a3f867d836b8df68817e1d326d14ca0:visited , .u2a3f867d836b8df68817e1d326d14ca0:active { border:0!important; } .u2a3f867d836b8df68817e1d326d14ca0 .clearfix:after { content: ""; display: table; clear: both; } .u2a3f867d836b8df68817e1d326d14ca0 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u2a3f867d836b8df68817e1d326d14ca0:active , .u2a3f867d836b8df68817e1d326d14ca0:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u2a3f867d836b8df68817e1d326d14ca0 .centered-text-area { width: 100%; position: relative ; } .u2a3f867d836b8df68817e1d326d14ca0 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u2a3f867d836b8df68817e1d326d14ca0 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u2a3f867d836b8df68817e1d326d14ca0 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u2a3f867d836b8df68817e1d326d14ca0:hover .ctaButton { background-color: #34495E!important; } .u2a3f867d836b8df68817e1d326d14ca0 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u2a3f867d836b8df68817e1d326d14ca0 .u2a3f867d836b8df68817e1d326d14ca0-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u2a3f867d836b8df68817e1d326d14ca0:after { content: ""; display: block; clear: both; } READ: Youth violence EssayEconomic factors have been favorable to LOreal and continue to be. Their expansion is well organized. Nothing is done without having done its homework first. That in it-self is a key to success. INPLEMENTATIONLOreal has opened the last door to the world. Not only do they have physical access and contact all over the world, now the world comes to them. They educate, advertise, and sell whatever they offer. With the market integration in everyday reality, the company has found a new way to ensure a better integration and better opportunities for those who have a taste for additional responsibilities and commitment. They are also willing to train them , so that they can be very productive and competitive. They have an expertise in global market that facilitates and pleases the prospective and current customer. One can have service in its own language without leaving home. Also, they aim to raise the profile of the company. To achieve that, they provide training for employees throughout the world that joins them. FINANCIAL IMPACTWith the help of new strategies, and despite disruptive world events, LOreal sales continue to grow. The consolidated sales of LORAL in 2001 reached 13.7 billion, in line with the groups expectations. The sales growth rate compared with 2000 was 8.4%. Exchange rate fluctuations, still positive at 0.5% at the end of September, had a 0.3% negative effect. The growth rate excluding exchange rate fluctuations was thus 8.7%. In structural terms, the positive net impact of disposals and acquisitions in 2000 and 2001, which was 2.4% up to the end of September, amounted to 1.6% for the whole year. In 2001, the group made two acquisitions: BioMedic, which specializes in skin care products to accompany dermatological and plastic surgery treatments, and Colorama, a Brazilian mass-market make-up brand. On a like-for-like basis, i.e. with an identical structure and exchange rates, the group sales grew by 7.1%. The Groups cosmetics sector continued to grow faster than the world mar ket. This achievement can be attributed to strong international growth combined with the successful worldwide rollout of the groups core brands. Fourth quarter sales were satisfactory (up by 6.2% like-for-like), with good growth in Western Europe (up by 5.8%) and continuing strong growth in the Rest of the World (up by 13.8%). In North America, sales advanced by 2.2%: some American retailers cut inventories sharply following the tragic events of 11th September. The dermatology sector continued to achieve rapid growth worldwide. Sales growth by sector and area Millions GrowthExcl. exch. rate fluctuations Group sales by sectorCosmtics13,394+ 8.7%+ 9.1%Dermatology (1) 292+ 11.3%+ 10.9%Cosmetics sales by area:Western Europe6,580+ 5.6%+ 5.8%North America4,257+ 14.0%+ 11.0%Rest of the World2,557+ 8.8%+ 14.9%(1) LOREAL Group share: 50%. (Www.loreal-finance.com)CONCLUSIONLOreal is a company that has seen various external opportunities and threats. They know how to handle their strengths and weaknesses to their advantage. Developing analytical strategies will improve and increase LOreal competitive advantage over Revlon, Clairol and others. With the global expansion, new innovations and the Internet strategy, it will definitely increase the sales and automatically more profits. If they follow their strategies and mission, LOreal will be in business for a long time and will find new ways to surprise us. ReferencesDavid, Fred R. Strategic Management: Concept ; Cases. New Jersey: Prentice hall, 1999. LOreal: The Beauty of Global Branding Business Week. 11 April 2002. Strategy Tip Of The Week. 23 April 2002. . Annual Report 2002. LOreal. 26 Mars 2002 .