Principle of Marketing

Principles of Marketing Promotion: Overview and Personal Selling Promotion Mix Personal Selling Advertising Publicity Sales Promotion Elements in the Communication Process (Fig. 14. 2) Promotion Strategy Strategic Objectives Appropriate Tasks Budget Implementation Evaluation and Control Strategic Issues Integration Relationships Goals: Information, Persuasion, Reminder Consumer Considerations: AIETA Model Target Integrated Marketing Communications (Fig. 14. 1) Advertising Personal selling Sales promotion Public relations Direct marketing A View of the Communications Process Marketers View Communications as the Management of the Customer Relationship Over Time Through the Following Stages: Preselling Preselling Selling Selling PostPostConsumption Consumption Consuming Consuming AIETA The Adoption Process Product Life Cycle AIETA and the Promotion Mix: The right tool for the job. Awareness Advertising -teaser campaigns -pioneering ads -jingles/slogans -outdoor -internet banners Publicity -newsworthy â€Å"stunts† -news announcements -trade announcements Interest Advertising -information ads -image ads Evaluation Advertising -persuasion ads -image ads -testimonials -comparative ads Trial Advertising -retailer co-op ads -POP materials -sales promotion ads Adoption Advertising -reminder ads Publicity -news coverage -human interest stories Publicity -consumer welfare reports Personal Selling -mentions -samples -brochures, etc. Personal Selling -benefits (prepared or formula approaches) Personal Selling -consultative selling Personal Selling -closed deal Personal Selling -consultative selling Sales Promotion -demonstrations -displays -tie-ins Sales Promotion -trade discounts -trade allowances Sales Promotion -samples -coupons -rebates -price packs -premiums Sales Promotion -patronage rewards -contests Promotion Targets—Push/Pull Promotion Mix Strategies Strategy that Calls for Spending A Lot on Advertising and Consumer Promotion to Build Up (Pull) Consumer Demand. Strategy Selected Depends on: Type of ProductMarket & Product Life-Cycle Stage Strategy that Calls for Using the Salesforce and Trade Promotion to Push the Product Through the Channels. Setting the Total Promotion Budget One of the Hardest Marketing Decisions Facing a Company is How Much to Spend on Promotion. Affordable Percentage of Sales Percentage of Sales Based on What the Company Can Afford Based on a Certain Percentage Based on a Certain Percentage of Current or Forecasted Sales of Current or Forecasted Sales Based on the Competitor’s Based on the Competitor’s Promotion Budget Promotion Budget Objective-and-Task Objective-and-Task Based on Determining Based on Determining Objectives & Tasks, Then Objectives & Tasks, Then Estimating Costs Estimating Costs Competitive-Parity Competitive-Parity Objective and Task Method Example of Objective and Task Budgeting Sales Management and Personal Selling Strategic objectives: Awareness—mentions, samples, etc. Interest—benefit information, missionary Evaluation—consultative selling Trial—consultative selling (closing) Adoption—consultative selling The Role of the Sales Force Personal selling is effective because salespeople can: probe adjust negotiate build Major Steps in Sales Force Management (Fig. 16. 1) Designing Salesforce Strategy and Structure Designing Salesforce Strategy and Structure Recruiting and Selecting Salespeople Recruiting and Selecting Salespeople Training Salespeople Training Salespeople Compensating Salespeople Compensating Salespeople Supervising Salespeople Supervising Salespeople Evaluating Salespeople Evaluating Salespeople Some Traits of Good Salespeople Selecting Salespeople Sales Aptitude Sales Aptitude Other Characteristics Other Characteristics Selection Process Usually Evaluates a Person’s Personality Traits Personality Traits Analytical and Analytical and Organizational Skills Organizational Skills Sales Force Organization In-house Flexible Directed Low variable costs Resource drain High fixed costs Agents (â€Å"Mfr. Reps†) Simple Low fixed costs Less control High variable costs Designing Sales Force Strategy and Structure Sales Force Size productive and expensive assets shrinking in size workload approach Sales force size Increases with Decreases with Training Salespeople The Average Sales Training Program lasts for Four Months and Has the Following Goals: Help Salespeople Know & Identify With the Company Learn About the Products Learn About Competitors’ and Customers’ Characteristics Learn How to Make Effective Presentations Understand Field Procedures and Responsibilities Compensating Salespeople To Attract Salespeople, a Company Must Have an To Attract Salespeople, a Company Must Have an Attractive Plan Made Up of Several Elements Attractive Plan Made Up of Several Elements Fixed Fixed Amount Amount Usually a Usually a Salary Salary Variable Variable Amount Amount Usually Usually Commissions Commissions Or Bonuses Or Bonuses Expense Expense Allowance Allowance For Job For Job Related Related Expenses Expenses Supervising Salespeople Directing Salespeople Directing Salespeople †¢Ã¢â‚¬ ¢ Identify Customer Targets & Identify Customer Targets & Call Norms Call Norms †¢Ã¢â‚¬ ¢ Develop Prospect Target Develop Prospect Target †¢Ã¢â‚¬ ¢ Use Sales Time Efficiently Use Sales Time Efficiently Annual Call Plan Annual Call Plan Time-and-Duty Analysis Time-and-Duty Analysis Sales Force Automation Sales Force Automation Motivating Salespeople Motivating Salespeople Organizational Climate †¢Ã¢â‚¬ ¢ Organizational Climate Sales Quotas †¢Ã¢â‚¬ ¢ Sales Quotas Positive Incentives †¢Ã¢â‚¬ ¢ Positive Incentives Sales Meetings Sales Meetings Sales Contests Sales Contests Honors and Trips Honors and Trips Merchandise/ Cash Merchandise/ Cash How Salespeople Spend Their Time (Fig. 16. 2) Service Calls 12. 7% Administrative Tasks 16% Telephone Selling 25. 1% Face-to-Face Selling 28. 8% Waiting/ Traveling 17. 4% Companies Look For Ways to Increase the Amount of Time Salespeople Spend Selling. Evaluation Match the measures with the objectives Profit Sales Satisfaction New products New accounts Costs Steps in the Selling Process Prospecting Prospecting Qualifying Qualifying Preapproach Preapproach Approach Approach Salesperson Identifies Qualified Potential Salesperson Identifies Qualified Potential Customers. Customers. Process of Identifying Good Prospects Process of Identifying Good Prospects and Screening Out Poor Ones. and Screening Out Poor Ones. Salesperson Learns as Much as Possible Salesperson Learns as Much as Possible About a Prospective Customer Before About a Prospective Customer Before Making a Sales Call. Making a Sales Call. Salesperson Meets the Buyer and Gets Salesperson Meets the Buyer and Gets the Relationship Off to a Good Start. the Relationship Off to a Good Start. Steps in the Selling Process Presentation Presentation Handling Handling Objections Objections Closing Closing Follow-Up Follow-Up Salesperson Tells the Product â€Å"Story† to Salesperson Tells the Product â€Å"Story† to the Buyer Using the Need-Satisfaction the Buyer Using the Need-Satisfaction Approach. Approach. Salesperson Seeks Out, Clarifies, and Salesperson Seeks Out, Clarifies, and Overcomes Customer Objections to Overcomes Customer Objections to Buying. Buying. Salesperson Asks the Customer for an Salesperson Asks the Customer for an Order. Order. Occurs After the Sale and Ensures Occurs After the Sale and Ensures Customer Satisfaction and Repeat Customer Satisfaction and Repeat Business. Business. SPIN Selling â€Å"Professional selling† Preliminaries are not important Questions/Answers SPIN Situation Problems Implications Needs-Payoffs SPIN selling â€Å"Easiflo† S: B: S: B: S: Do you use Contortomat machines? Yes, three of them. And, are they difficult for your operators to use? Yes, rather hard, but they eventually learn. We could solve that operating difficulty with our new Easiflo system. B: What does your system cost? S: The basic system is about $120,000, and†¦ B: $120,000!!! Just to make a machine easier to use? You must be kidding! Example: Selling â€Å"Easiflo† S: Do you use Contortomat machines? (Situation) B: Yes, three of them. S: And, are they difficult for your operators to use? (Problem) B: Yes, rather hard, but they eventually learn. (Implied need) S: We could solve that operating difficulty with our new Easiflo system. (Solution) B: What does your system cost? S: The basic system is about $120,000, and†¦ B: $120,000!!! Just to make a machine easier to use? You must be kidding! SPIN selling â€Å"Easiflo† S: And, are they difficult for your operators to use? B: Yes, rather hard, but they eventually learn. S: You say they’re hard to use. What effect does this have on your output? (Implication) B: Not much. We’ve specially trained three people. S: If you’ve only got three people who can use the Contortomats, doesn’t that create bottlenecks? (Implication) B: No, really, it’s only when an operator leaves that we have trouble. While we’re waiting for a replacement to be trained. S: It sounds like the difficulty of using the Contortomat machines may be causing a turnover problem with operators. Is that right? (Implication) B: Yes, people don’t like using them, so operators usually don’t stay with us long. S: What does this turnover mean in terms of training costs? (Implication) Well, it takes a couple months to get proficient— that’s maybe $4000 in wages. Plus we pay Contortomat $500 for training. And, $1000 for travel, since that training is off-site. Hey, that’s about $5000 per—and we’ve trained at least five this year. S: So, that’s $25,000 in training costs in less than 6 months. If you’ve trained that many people in so little time, the turnover must result in production losses, doesn’t it? (Implication) B: Not really. As I said, we avoid bottlenecks by getting the other operators to work overtime. Or, we send the work out. S: Doesn’t the overtime add even more to your costs? (Implication) B: Yes, that’s true. And, even at double pay, the operators don’t like working it. That probably contributes to the turnover. S: I can see how sending the work outside must increase your costs, but are there other implications? Does the quality stay the same? (Implication) B: That’s actually the biggest problem. I can control the quality in house, but not the contract stuff. S: I suppose that sending work out puts you at the mercy of the contractor’s schedule? (Implication) B: You don’t want to know! I just got off the phone— three hours, chasing down a late delivery. S: So, from what you’ve said, because the Contortomats are difficult to use, you’ve spent $25,000 in training costs this year and you’re getting expensive operator turnover. You’ve got bottlenecks in production, and they result in expensive overtime and force you to send jobs outside. But sending jobs outside reduces quality and creates scheduling problems. B: When you look at it that way, those Contoromat machines are creating a very serious problem indeed. Wrong approach Contortomats are hard to use. $120,000 is far too much money to solve that problem SPIN approach Contortomats cause: Difficulty in use $25,000 training Turnover Overtime costs Cost of outside work Loss of quality Scheduling problems $120,000 may be a bargain Build implications. â€Å"Let† the customer discover value.

Application of Evidenced †Based Practice Essay

Application of Evidenced-based Practice Regarding pediatric Patients and Otitis Media 1 Running head: Application of Evidenced -based Practice Application of Evidence-based Practice Regarding Pediatric Patients and Otitis Media Running head: Application of Evidence-based Practice 2 The nursing practice heavily relies on the evidence based clinical information to determine current standards of practice within the nursing scope of practice. A multitude of informational journals and peer reviewed articles are readily available to help guide the decisions placed into practice. The nurse is responsible for recognizing the quality of evidence collected to improve the standard of care patients receive. This paper will investigate four articles regarding the appropriate care and treatment of the pediatric population with otitis media. In addition, an appropriate recommendation for antibiotic therapy will be made based on information gathered during the research. To answer the question of whether a wait-and -see approach is recommended, an initial validation of the information collected must be determined. Four articles will be assessed based on the type of research collected as filtered, unfiltered, or general information. The source will be investigated as inappropria te or appropriate. Lastly, the articles will be classified as primary research evidence, evidence summary, or evidence-based guideline. In addition to the four articles, a study and interview from current patients of the clinic will be discussed. The first article by the American Academy of Pediatrics and American Academy of Family Physicians discusses the diagnosis and management of acute otitis media. This article is a filtered resource as several large studies have been completed on the topic. The article is from a reliable and reputable source and is determined to be appropriate. The type of research is an evidence summary as well as providing evidenced based guidelines for practice. The second article by The Pediatric Infectious disease Journal provides unfiltered information. The author Dr. Block discusses evidenced collected within studies of her own as well as collected data from Running head: Application of Evidenced-based practice 3 previous studies and as a result the article is mainly primary research. This source would be considered inappropriate for a nurse evaluating a standard practice to recommend. The information presented within the article is too broad and does not recommend a best practice standard. The article is an unfiltered article based on the foundation of a multitude of studies and expert opinion presented. A physician may find this article useful if investigating which pathogen would best respond to a specific antibiotic. The third article is a general informative resource for the clinic to apply evidence based practice. The resource is a filtered article which provides appropriate information relating to general practice. The research is evidence summary as well as evidence-based guideline. This article provides general information regarding pain and treatment of ear problems. This article may by appropriate for the diagnosis of specific ear conditions and treatments however may not be approp riate to determine if a wait-and-see approach is supported. The last article reviewed discusses treatment of otitis media in an era of increasing microbial resistance. This is an unfiltered resource and appropriate for determining if a practice change should be implemented. The type of research is evidence summary and evidence-based guidelines. This article would support an evidenced based approach to support a change of practice within the clinic. Finally, interviews collected from patients who utilize the clinic is unfiltered information and inappropriate to base a clinical change of practice. The type of research is primary research evidence. This information may be helpful for determining the type of culture who utilizes the clinic and how accepting the community may perceive a change in practice. All pieces of information collected has valuable information, however from nursing standards an article should present current evidence based practice standards. Running head: Application of Evidenced-based Practice 4 The evidence presented within one article supports a watchful waiting approach to treating acute ear infections in children. Data is strongly supported with evidenced based practice guiding the appropriate course of treatment as prescribed by physicians. For example, The American Academy of Pediatrics and American Academy of Family Physicians have provided a practice guideline for the diagnosis and treatment of acute otitis media. This article should be considered the gold standard of practice for physicians and presents filtered information. The article clearly provided recommendations based on the presentation of the patient in addition to practice standards. The article is current and is supported by regulatory licensing agencies. Future research goals are also discussed along with current recommendations. This informative practice guideline should be reviewed with additional information to fully support a practice change within the clinic . However, additional current studies would be required to implement a change of practice with more supportive data. Considering multiple resources were obtained to investigate a change in practice, some articles were outdated and referenced studies which may not be applicable to modern practice. In conclusion, research does support a more watchful approach to treating patients; more supportive current data would be required so an informed decision can be made. To implement a policy change within a clinic, a committee should be established to review current evidence based literature to support a change in practice. A review of current recommendations for practices can be investigated along with a discussion with a larger pediatric medical facility. Having a better understanding of current trends from neighboring establishments can better prepare the facility for a change in practice. Educational information should be prepared for parents to establish a clear understanding of why a practice change has been implemented. Nursing will have a vital role in educating families and possibly reminding practitioners of practice Running head: Application of Evidenced-based practice 5 recommendations. By the nursing staff having the knowledge of best practice, they can advocate a higher quality of care for their patients. Ethical concerns and vulnerable populations should be considered when researching and changing clinical practice  guidelines. The practitioner and nursing staff must assure they are implementing practice changes to improve quality of care for their patients. Well supported and researched standards should only be implemented. The patient population of the clinic should not be uses as a test group or population without prior knowledge or informed consent. During the process of informed consent, all risks must be explained to the patient and family. Patients must be educated by the practitioners and nursing staff regarding the implementation of a new practice. The staff must be aware of credible resources for data collection and applications to practice. Reassurance of protecting patient privacy should be discussed with patients and parents. The nurses must continue to advocate for human rights during the research process by identifying vulnerable populations. These populations may include children, pregnant woman, elderly, and cultural differences. If any language barriers exist, the nursing staff should be p repared to have alternate communication methods. State and federal guidelines must be followed during any research process and advocate for those who cannot advocate for themselves. References Block, S.L. (2008). Causative Pathogens, Antibiotic Resistance and Therapeutic Considerations in Acute Otitis Media. Pediatric Infectious Disease Journal, 15(4), 448-456. Hay, W.W., Levin, J.J, Sondheimer, & Deterding, R.R. (2006). Current pediatric diagnosis and treatment. Ear, Nose and Throat. (pp. 159-492). Denver, Colorado: Lange. McCracken, G.H. (1998). Treatment of Acute Otitis Media in an Era of Increasing Microbial Resistance. Pediatric Infectious Disease Journal, 17(6), 576-579. American Academy of Pediatrics. (2004). Diagnosis and Management of Acute Otitis Media, 113(5), 1451-1465.

Cardiovascular control in exercise, the contribution of central command and muscle afferents

Cardiovascular control in exercise, the contribution of central command and muscle afferents Cardiovascular Control in Exercise, the contribution of Central Command and Muscle Afferents The human body has the ability to easily adapt when exercise begins with many of these adaptations occurring in the cardiovascular system. It is well documented that at the onset of exercise heart rate (HR), blood pressure (BP) and muscle sympathetic nerve activity progressively increase to higher levels (Lind et al, 1964). These cardiovascular adaptations are controlled by either central (Central Command) or peripheral (exercise pressor reflex) mechanisms (McCloskey results from a study by Williamson et al (2002) have shown this through hypnosis. Originally an individual’s perceived exertion during exercise was thought to be independent of any force being produced, allowing the magnitude of CC to be seen (Gandevia et al, 1993). Williamson et al (2002) obtained results related to this idea; they found that the level of CC activated was related to an individual’s sense of effo rt independently of any force being produced. Increases in HR were found during hypnosis despite no exercise being performed and increases were therefore independent of feedback from afferents within the active limb.

Molecular Aspects of Conservation Genetics Essay - 1

Molecular Aspects of Conservation Genetics - Essay Example Scientific genetic approaches have made it easier to identify the cryptic species in particular taxa, and thereby have conservational significance. To achieve a positive result on conservation efforts, especially those linked to an individual species, an in-depth study of the taxonomy is mandatory (Mace 2004). However, since extracting taxonomical evidence based on morphological characteristics of birds has been a â€Å"taxonomic-headache† (Howell and Webb. 1995), a designed systematic molecular approach is a much better alternative. Neotropical parrots belonging to the genus Amazona have been treasured for their capability to mimic human sounds and their beautiful plumage. However, most Amazona species parrots are under threat of extinction except Amazona farinosa, also known as the Mealy Amazon which is prevalent in parts of both Central and South America. Wenner et al conducted a study to evaluate and validate the taxonomy of A.farinosa species complex by employing analytical methods such as complementary analysis and multiple genetic loci. DNA sequence data from mitochondrial and nuclear introns were extracted from sources like frozen tissues, bone and toe pad extraction and were used to understand and analyse the relationship between the five sub-species of A.farinosa. In the mtDNA data set, 110 sites were variable while about 96 of the sites were parsimony informative. Unique haplotypes were identified and joined to estimate the percentage of relation between the haplotypes. Three distinct haplotypes clust ers and a minimum of 11 mutational steps were recognised. Phylogenies constructed using maximum-likelihood (for both individual as well as concatenated gene regions) and Bayesian method showed the existence of two negatively monophyletic clades- Central American clade and South American clade. The genetic distance recovered between both

Role of Emotional Intelligence and Gender in an Organizations Essay

Role of Emotional Intelligence and Gender in an Organizations Leadership Styles - Essay Example This paper illustrates that some people believe that leaders are born whereas others are of the view that leaders are developed. In any case, it is a fact that genetics and environment play vital roles in shaping leadership styles of a person. It is not necessary that children of leaders may always become leaders or children of workers may not become leaders. Emotional intelligence and gender are two decisive factors which can influence leadership qualities in one way or another. According to Cherry, â€Å"Emotional intelligence (EI) refers to the ability to perceive, control and evaluate emotions. Some researchers suggest that emotional intelligence can be learned and strengthened, while others claim it is an inborn characteristic†. In any case, it is a fact that the leadership qualities of a person have strong associations with his emotional intelligence. People with weak emotional quotient may not function effectively when crisis situations develop whereas people with high emotional intelligence may not lose their temper and patience when the organization faces crisis situations. Same way, the manner in which a female leader reacts to a crisis situation need not be the same as male leader reacts to same situations. This paper analyses the role of emotional intelligence and gender in shaping leadership styles of different people in different organizations. The competition between Microsoft and Apple Inc. for domination in computer and consumer electronics market has caught the attention of many business pundits. 1980’s and 90’s were challenging periods for Apple and many people thought that Apple computers are on the verge of destruction. Microsoft did succeed in monopolizing operating system market during this period with the introduction of their window-based operating system for personal computers. On the other hand, Apple’s Macintosh operating system failed to make many waves in the market.

Russian aggression Essay Example | Topics and Well Written Essays - 500 words

Russian aggression - Essay Example In a global perspective, Ukraine is an easy target but it is exactly Ukraine that is a cornerstone which stands at the crossroads of western and eastern interests. These interests with full speed go towards the Cold War 2.0 and rebuilding of USSR. If nothing will be done in some time the Middle East will not be the only region that admires was and lives only for it. The most global, total and incredibly important conflict of recent times concentrated in the eastern Ukraine. It won’t be Yugoslavia, Iraq or Syria because it will be much worse due to the more political subjects in this highly risky game. Being the biggest European country with more than 45 million of citizens Ukraine will try to stand back but without help in some time, the Baltic States and even Scandinavian countries will feel the pressure. Annexation of Crimea shows that Russia will do anything while American and European promises and guarantees on the matter of Ukrainian independence and immunity of its borde rs from invasion don’t value much. Something must be done and done quickly. NATO started strategic and tactical of unheard scale. They are the biggest beginning from the last decade of the 20th century. Ukraine still has most of the gas transit checkpoints without which Europe will be left without gas. Ukrainian citizens won’t forget the cost with which they bought their choice of better life according to the European standards. Ukraine knows its value though its politics is still highly imperfect the key for the conflict’s probably the best solution is one united front.

Illegal Immigration and The Cost to US Citizens Essay

Illegal Immigration and The Cost to US Citizens - Essay Example mmigration in the United States and would provide with both the view points on it concluding as to if it should be stopped or not (Illegal immigration). It was found that the number of illegal immigrants residing in the United States were almost 10.8 million in January 2009 (Reuters 2010) Most of these immigrants belonged to Latin America, Mexico, and Central America. These immigrants have crossed borders illegally through different ways to enter USA. Most of them enter USA to earn a better living there as it is a developed country. The proponents of illegal immigration believe that they have a positive effect on the economy of the United States as these immigrants tend to work a lot for the service sector. A report known as Perryman report of 2008 found that these illegal immigrants were adding up to $245 billion to the GDP of United States. These proponents believe that it is because of these illegal immigrants that the service sector of United States is booming. The wages that the illegal workers take from their employers is quite less as compared to the wages written in the constitution and this is because it gives an edge to em ployers. The proponents believe that illegal immigration can create a lot of jobs which naturally other citizens of United States would not be willing to take. It is because of their courtesy that all the sectors of the United States are working in an organized manner. However all these views are opposed by the opponents of illegal immigration as they believe the opposite of what the proponents believe (FOX NEWS 2010; Illegal Immigration). The opponents of illegal immigration argue that these immigrants are taking the rights of the citizens of United States and are depriving them of the basic necessities as laid down in the constitution. The jobs taken up by the illegal immigrants in United States can be taken up by legal citizens if they are given the chance. The opponents not only lay down the problems of economy because of these

Macro Environment assignment Example | Topics and Well Written Essays - 1250 words

Macro Environment - Assignment Example o detect impact it will basically involve the use of transistors or other semiconductor components that involves the use of Silicon as the basic material for building the device. The technology also involves the use of mobile and other communication technology such as GPS. The mobile technology will be used to automatically dial 911 in case of accidents and GPS would be used to give the location of the accident site to the 911 operator so that help can arrive swiftly. The GPS technology is very much an essential component in this case as no human being might be present or the driver himself might not be in a position to physically communicate the occurrence of the accident or the place to the operator. All of the required resources are easily available in the US and non availability of resources won’t be a problem with regards to the manufacture of the device. The US is a country which has been a mixed breed of different cultures races and ethnicity. The country is a hot bed for migration and most of its population is made up of migratory people from different countries across the globe. This has led to a diverse and multifaceted cultural diversity in the country. The country has a population that is comprised of people of different age group but most of its population is of the older generation. The buyer for the new technology has been identified as Ford motor company. However the ultimate buyer of the new technology is likely to belong from every culture or races that are present in the country. Since safety is an issue that is seen as a major area of concern irrespective of the culture or religion or race or creed or sex to which one belongs. However, with aging population the concern for road safety and the likely adoption of this potential life saving technology is likely to increase. The America represents a country which is led by innovations. The American economy has been fuelled by innovations. There are large of new start-ups that are formed in

Originality about art Essay Example | Topics and Well Written Essays - 2000 words - 1

Originality about art - Essay Example nalyzed in terms of their inspirations, styles, and techniques that they have applied to their works; works of which have contributed to the development of Contemporary art and establish the originality with their respective techniques. The list of contemporary artists includes Jackson Pollock, Willem De Kooning and Andy Warhol. Lastly, this paper will use Jason Gaiger’s book, Frameworks for Modern Art (Art of the Twentieth Century) as its primary basis. Supplementary sources for this paper will be cited accordingly. Upon the onset of the Modern Period, Jackson Pollock is one of those who had staged a significant feat in art development. Pollock, considered as one of the greatest contemporary painters in American art history, was part of a period where the Modernist Movement of 1920 was slowly transformed into the Post-Modernist Movement of Contemporary art history. In the New World, Pollock was known as an important member of a group of artists called the New York School. The New York School, more of a unified and collective artistic idea rather than a concrete institution, was popularly known as the Abstract Expressionists (Getlein 497). It was in this influence that Pollock acquired his unique style unto his works. His art established a new kind of visual that many had not seen before. In line with the Abstract Expressionists, the artist derived a direct influence from Surrealism. His technique showcased automatism and focused on the aesthetic powers of the unconscious. Being a painter of the mentioned genre, Pollock always exhibited large scale works in the literal sense. He used huge canvass sizes – this was to take his audience into the very essence of his paintings. The emphasis on huge painting canvasses is an essential part for Abstract Expressionists in order to highlight the effect of the entire piece (Getlein 497). The bizarre characteristics of the artist’s works bring out the very sense of post-modernism in his style. The perfection of his

Teamwork wins Championship Essay Example for Free

Teamwork wins Championship Essay Team work wins Championship! Talent wins games, but teamwork and intelligence wins championship. l I must say what an awesome saying by Michael Jordan! He beautifully portrays the success of teamwork. As nowadays, the challenge for companies is to deliver quickly and flexibly new quality products and services in order to respond to greater and changing demands from clients. Standardization and specialization characterize traditional work organization; the work is divided into different segments, and workers perform their tasks individually, specializing in their field. However, specialization, control and outine are suitable when a constant demand for standardized products applies. However, for a fast changing demand, this method does not seem to work as well, and may lead to coordination problems and rigidities. Therefore, to fulfill the fast changing demand, the companies started to look for new forms of organization of which teamwork is quite successful one. 2 Teamwork is considered to be one of the core elements of the new work organization and it involves working cooperatively and making use of individual strengths within a group to achieve a common goal. Teams are more flexible and responsive to changing events. This is because there is no one leader clearly in charge in fact the leadership role is shared and work is done collectively. This creates an environment that facilitates knowledge and information exchange. As team working makes fuller use of all the talents of the workforce. Better solutions to problems are found as those most closely connected with the work participate in suggesting answers Thus, this highly motivates staff resulting in reduce labour turnover and high labour productivity. Labour productivity is the output per worker in a given time period. When companies such as W. L. Gore, Volvo and Kraft Foods introduced teams into their production process, they made news because no one else was doing it. But today, its Just the opposite an organization that doesnt use teams would be newsworthy. Its estimated that over 70 percent of U. S. manufacturers use work teams. 3 Hence, team working is better for productivity than individual working. Management theory suggests that compared to an individual, a diverse group of people will be more creative because team members will bring a variety of ideas, perspectives and approaches to the group. Even at Google teams are a way of life. As the company web sites states, Googlers thrive in small, focused teams and high-energy environments. 4 Actually teamwork is different from the Taylorist work organization. F. W. Taylor was the person who made first serious attempt to analyze worker motivation in order to advise management on the best ways to increase worker performance or productivity. His scientific management theory is characterized by task specialization, a pyramid hierarchical structure and a centralization of responsibilities. Under the Taylorist model the work was divided into narrow functions with short, repetitive work cycles and the work method is rescribed in detail. However, this system does not offer sufficient scope for a process of upgrading and innovation, which is essential for quick change and adaptation. The slowness and relative rigidity of the traditional organizational scheme otten earns i t the name dinosaur syndrome. 5 Furthermore the repetitive tasks cause boredom amongst workers. Hence, employees lose interest in their work which ultimately leads to poor response rate and high labour turnover effecting productivity. Hence, Taylor approach of management, giving instructions to workers with no discussion or feedback is considered to be undesirable. Worker participation in devising best work practices is now encouraged. As Mayo Human Relations theory also suggest that working conditions and financial rewards have little or no effect on productivity. In fact when management consults with workers work in teams and develops a team spirit then productivity is improved. As team working makes fuller use of all the talents of the workforce. Thus, better solutions to problems are found as those most closely connected with the work participate in suggesting answers. 6 Case study of Starbucks Corporation will further help to illustrate the concept. Starbucks Corporation is the most famous chain of retail coffee shops in the world. In 1971 it started with three owners and in 1982 a sales representative, Howard Schultz, of the house ware business in New York Joined them. When he had a vocation to Italy, he experienced an entirely different coffee culture. He wanted to adopt that in Starbucks but the initial owners rejected the idea. Therefore, he chose to establish a new coffee shop, named II Gironale. In two years his business was so successful that the three owners of Starbucks decided to sell their business to Schultz. His work strategy worked so well that in 2007 he was ranked as the 16th best company. Schultz was so successful due to his business culture, beliefs and attitudes. He believed that the tip of success is not coffee but employees. Hence, motivation is the vital factor for business in the process of making their production. As labours are not working machines, so they can not always do the same affairs with equal passion. Accordingly the efficient method to make staffs keen on their Jobs should be to motivate them. As Nicholson (1998) also reported that workers had strong social eeds which they tried to satisfy through membership of informal social groups at workplace. 7 Therefore, Schultz adopted teamwork which did not only construct a small social structure in organization for employees to soci alize, but also composite of various kind of members who equip with different background of skill and knowledge on account of the mission. However, if business were rather bureaucratic in their approach with an inflexible approach to staff issues. Focused on individual working rather than teamwork then according to Mc Gregor theory Y, workers will be ighly de-motivated. As Mc Gregor theory Y managers believed that workers are creative, willing to accept responsibility and can derive as much enjoyment from work as from rest and play. Hence, in todays world where there is so much awareness among workers so if they are not given any right in decision making then this could de-motivate them and affect productivity. Thus, teamwork is the solution which gives workers not only the chance to participate in suggesting ideas in fact through increased communication they are able to complete large projects in lesser time. As many business projects require numerous tasks and exhibit a complexity level that would be almost impossible for a single employee to complete on his own. 8 Therefore pulling individuals from a variety of departments and positions allows a company to complete projects and work assignments more efficiently. Adding up to it, team working can reduce management cost as it is often associated with de-layering ot the organization. De-layering is the removal ot one or more ot the levels ot hierarchy from an organization structure. Furthermore, there is a positive correlation between teamwork and employee training. This is because when workers work in teams they are able to learn from others. As some team members might be from the upper level of the management and have much more experience than others members. Thus by developing social contacts and even by observing them, members who are less experienced can learn. The Finnish Quality of Work Life Survey reports, Employees who do teamwork have generally better possibilities of receiving training and for developing their skills than people who do not work in teams. 9 Abraham Maslow also suggested the theory of the hierarchy of human needs. His findings were not only based on the work environment in fact he considered psychological and sociological factors as well. He believed that human needs starts from the level of physical needs which include food, shelter, water and rest. Then it moves to safety needs which means protection from threats, Job security, health and safety at work. Further the hierarchy of needs move to social needs which refer to feeling of belonging to a group, trust and acceptance. And then comes the esteem needs and self actualization. Esteem needs mean status and recognition of achievement. Therefore, by developing teams MasloWs social and esteem needs and likely to be fulfilled. Hence, workers are expected to be better motivated. It would stimulate people to take action to improve productivity. 10 Hence, it can be safely concluded that teamwork can contribute to a better quality of working life for employees leading to improved productivity. Working in teams allows employees to give their ideas and work collectively which result in completing large projects in lesser time and hence increase efficiency of employees. Efficiency means producing output at the highest ratio of output to input. Therefore, the organization is benefited from the speed of employees as teamwork motivates workers and they do their work with more interest. Furthermore, the degree of acceptance is high of the decisions made by teams as they are usually perceived as more legitimate than decisions made by one person. This is because team members are reluctant to fght or undermine a decision that they helped develop. 11 Henry Ford also said, Coming together is the beginning. Keeping together is the progress. Working together is the success. 12 Therefore, adopting team work at work place usually leads to success. Total Words: 1512

The Importance Of Costs In The Pricing Strategy Accounting Essay

The Importance Of Costs In The Pricing Strategy Accounting Essay It is very important for companies to have a good pricing strategy as it than permits them to earn good profit margin on its product or services and at the same time making it appealing to the customers. Pricing strategies are very important part of business and different organisation spend large sum of money and effort to devise effective and efficient pricing strategies. Following are different types of pricing strategies that different business organisations use in order to attract customers and at the same time to earn profit: Competition Pricing; Psychological Pricing; Cost based Pricing; Price Skimming. Absorption costing The formula that is used by different organisations to calculate the price is:   Selling price. = Cost + profit Cost based pricing: One of the strategies is cost based pricing. This strategy involves first the calculation of the fixed cost and the variable cost of the specific product or service that is offered by an organisation. Once the total cost is calculated than the profit margin is added to each unit i.e. it can 5%, 7% or 9%. The cost based pricing strategy is very efficient strategy as it covers all the costs related to product and service and it also covers the desired profit. Although this strategy looks very simple and easy to use and managers only have to do some financial calculations in order to determine the price of the product or service that is being delivered. But the problem with this strategy is that it doesnt consider the external factors such as market or the competition that also have massive impact on pricing. But as this strategy is very old and the organisation only has to process the internal information to calculate the price thats why it is very popular. The organisation can also justify the prices that have been allocated on the basis of their cost and also prove that the price is the sum of the total cost and the profit. Absorption costing principles: Absorption costing is another costing technique that is widely used it involves the allocation of all the costs that have been incurred by the business organisation to each of its product or the service they offer. This strategy enables them to estimate whether the product will make profit in future or not. During the cost allocation process some assumptions are also made as some costs are fixed and some are variable which depend on the level of production. When absorption costing system is used the profit that are reported by the organisation depend on the level of production and the level of sales by the firm, this is due to the fact the fixed manufacturing overhead is absorbed in the value of work in progress goods and also in the finished goods. But if at the end of the accounting period the stock is not sold out than the fixed manufacturing overhead cost is transferred to the next period. Marginal costing principles: Marginal costing is another significant costing strategy. This strategy gives importance to the behavioural characteristics of the costs. The two elements of the cost are first separated i.e. variable cost in which the cost per unit is same and the total cost changes depending on the level of production and the second element is fixed cost in which the total cost is same irrespective of level of production. It is not very easy to separate fixed and variable costs, the organisation simplify the information to do this and sometimes it is not very accurate. But this costing strategy is very helpful for business organisations to perform different activities such as decision making and short term planning. In this costing system the variable cost is subtracted from the sales revenue to calculate the contribution margin of each product i.e. the amount each product has contributed to cover the total fixed cost that business organisation has sustained. And then the fixed cost is subtracted f rom the contribution margin as fixed cost is treated as period cost and then the net profit is found. 1.2 Design a costing system for use within an organization. The world was hit by the recession in 2007. Now it is been more than six years but still many countries are not able to get rid of it and most of the countries are facing the after effects. The economy has been badly affected by the recession. And therefore business organisations are also giving more attention to the financial aspects of the firm. The business organisations are trying to be prepared for such kind of disasters by using various accounting tools that helps them to closely evaluate their performance whether it is financial or management performance. This also helps them to identify various opportunities. According to Datar et.al (2008) business organisations are giving more attention to cost accounting these days in order to make their financial as well as their strategic decisions. The costing system enables the organisation to easily record the expenses that have been incurred or will be incurred in future. But the other financial technique limits the business organisa tions to sales, marketing and human resource management and does not give the accurate cost of the business activities. There are different costing systems some of them are mentioned above but the three costing systems that are gaining more attention are very popular among business organisations are: Activities-Based Costing System Absorption Costing System Direct Costing System TESCO is a multinational grocery store with millions of turn-over every year; they have been using traditional costing system which is used to cover their huge sales. But now as the competition is increasing in the market due to globalisation and various other factors the number of challenged TESCO is facing is also increasing. Therefore the best costing system for TESCO is activity based costing or ABC system. According to Dekker (2003) the fundamental principle of the activity based costing revolves around value chain analysis and integrated cost evaluation and the sales information that is associated with the supply chain of the organisation. TESCO requires the main costing hub rather than small different departments. It has more than 30,000 products and therefore it is very difficult to keep track of all of them. Any business firm offering this much number of products cannot keep track of the cost and they can be in difficult situation due to overhead cost allocation. Activity based costing system has two divers volume based and non-volume based. The most suitable costing system for TESCO is activity based costing as it helps the organisation to get the exact summary of cost of sales. 1.3 Propose improvements to the costing and pricing systems used by an organization The competition-based pricing policy should be used by TESCO. This strategy helps the firm to finalize the price of the product after analysing the prices set by the other companies that are currently competing in the market. Therefore TESCO should first identify its present competitors that are giving it a cut throat competition. Than after calculating the costs of its products TESCO sets the price of each product. The prices are set either higher, lower or exactly the same prices that are offered by competitors. This decision is actually based on how the competitor will respond to the set price. If there are few competitors in the market than the response of the competitor is very important part of this pricing strategy. Because if this is the case than, when one competitor lowers the price the other competitor will also lower theirs in order to be more competitive. By using this this pricing policy the companies can relatively quickly set their prices and as this strategy does not require accurate market data therefore it requires very little effort to carry it out. Competitive pricing also makes distributors more receptive to a companys products because they are priced within the range the distributor already handles. Furthermore, this pricing policy enables companies to select from a variety of different pricing strategies to achieve their strategic goals. In other words, companies can choose to mark their prices above, below, or on par with their competitors prices and thereby influence customer perceptions of their products. 2.1. Apply forecasting techniques to make cost and revenue decisions in an organization Assumptions for Forecasted Income Statement: The revenues have increased by 5%. The cost of goods sold has increased by 2% The selling, general and admin expenses has been managed to bring down by 3% No further borrowing took place therefore interest expense is same Interest income, income on equity investment and non-operating income has increased by 1%. All the unusual items will be same. Income tax will be 25%. Minority interest in earning and earning from discounted operations will be same. NOTE: All the figures are rounded off to one decimal place. Currency (Millions of British Pounds) As of: Feb 25 2012 GBP % Change Feb 25 2013 GBP Revenue 64,539.0 5% 67,766.0 TOTAL REVENUE 64,539.0 67,766.0 Cost Of Goods Sold (cogs) 59,278.0 2% 60,464.0 GROSS PROFIT 5,261.0 7,302.0 Selling General Admin Expenses, Total (1,634.0) (3%) (1,585.0) Total OPERATING EXPENSES (1,634.0) (1,585.0) OPERATING INCOME 3,627.0 5717.0 Interest Expense (417.0) Same (417.0) Interest Income And Investment Income 114.0 1% 115.0 NET INTEREST EXPENSE (303.0) (302.0) Income On Equity Investments 91.0 1% 92.0 Other Non-Operating Income (Expenses) 44.0 1% 44.0 EBT 3,459.0 5,551.0 Impairment Of Goodwill Same Gain On Sale Of Assets 376.0 Same 376.0 Other Unusual Items Same EBT, INCLUDING UNUSUAL ITEMS 3,835.0 5927.0 Income Tax Expense 879.0 (25%) 1482.0 Minority Interest In Earnings (8.0) Same (8.0) Earnings From Continuing Operations 2,956.0 4,445.0 EARNINGS FROM DISCOUNTINUED OPERATIONS (142.0) Same (142.0) NET INCOME 2,806.0 4,295.0 NET INCOME TO COMMON INCLUDING EXTRA ITEMS 2,806.0 4,295.0 NET INCOME TO COMMON EXCLUDING EXTRA ITEMS 2,948.0 4,437.0 Assumptions for Forecasted balance Sheet: All assets will increase by 3% except the current assets. Current assets will increase by 5%. All current liabilities will increase by 4%. All long term liabilities will increase by 3.95%. Equity will increase by 5%. Currency in Millions of British Pounds As of: Feb 25 2012 GBP % Change Feb 25 2013 GBP Assets http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif Cash And Equivalents 2,305.0 5%http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif 2420.25 Short-Term Investments 1,243.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif5% 1305.15 TOTAL CASH AND SHORT TERM INVESTMENTS 3,548.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif5% 3725.4 Accounts Receivable 2,502.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif5% 2627.1 Notes Receivable http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif Other Receivables 2,244.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif5% 2356.2 TOTAL RECEIVABLES 4,746.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif5% 4983.3 Inventory 3,598.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif5% 3777.9 Prepaid Expenses 420.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif5% 441 Other Current Assets 551.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif5% 578.55 TOTAL CURRENT ASSETS 12,863.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif5% 13506.15 Gross Property Plant And Equipment 34,772.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif3% 35815.16 Accumulated Depreciation -9,062.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif3% -9333.86 NET PROPERTY PLANT AND EQUIPMENT 25,710.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif3% 26481.3 Goodwill 3,449.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif3% 3552.47 Long-Term Investments 1,949.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif3% 2007.47 Accounts Receivable, Long Term 1,901.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif3% 1958.03 Loans Receivable, Long Term http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif3% Deferred Tax Assets, Long Term 23.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif3% 23.69 Deferred Charges, Long Term 677.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif3% 697.31 Other Intangibles 492.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif3% 506.76 Other Long-Term Assets 3,717.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif3% 3828.51 TOTAL ASSETS 50,781.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif 52304.43 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif LIABILITIES EQUITY http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif Accounts Payable 5,971.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif4% 6209.84 Accrued Expenses 2,612.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif4% 2716.48 Short-Term Borrowings 415.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif4% 431.6 Current Portion Of Long-Term Debt/Capital Lease 1,423.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif4% 1479.92 Current Portion Of Capital Lease Obligations 32.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif4% 33.28 Current Income Taxes Payable 416.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif4% 432.64 Other Current Liabilities, Total 8,412.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif4% 8748.48 TOTAL CURRENT LIABILITIES 19,249.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif4% 20018.96 Long-Term Debt 9,777.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif3.95% 10163.19 Capital Leases 134.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif3.95% 139.293 Minority Interest 26.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif3.95% 27.027 Pension Other Post-Retirement Benefits 1,872.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif3.95% 1945.944 Deferred Tax Liability Non-Current 1,160.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif3.95% 1205.82 Other Non-Current Liabilities 788.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif3.95% 819.126 TOTAL LIABILITIES 32,980.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif3.95% 34319.36 Common Stock 402.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif5% 422.1 Additional Paid In Capital 4,964.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif5% 5212.2 Retained Earnings 12,164.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif5% 12772.2 Treasury Stock -18.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif5% -18.9 Comprehensive Income And Other 263.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif5% 276.15 TOTAL COMMON EQUITY 17,775.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif5% 18663.75 TOTAL EQUITY 17,801.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif 18,701.00 TOTAL LIABILITIES AND EQUITY 50,781.0 http://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gifhttp://investing.businessweek.com/research/images/px.gif 52304.43 2.2 Assess the sources of funds available to an organization for a specific project: There are two sources of capital: Equity financing Retained earnings Public stock sale Partners Venture capital companies Corporations Debt financing: Asset based financing Vendor financing Commercial banks But all of the above sources are not suitable for Tesco. It already has floated its stocks in the market therefore only following few sources of funds available to Tesco: Retained earnings The retained earning directly affects the amount of dividend paid to the shareholders. Company can either use its profits as retained earnings or reinvest them or they can give it away as dividend. There are different reasons because of which it is better to use retained earnings to finance the new project instead of giving it as dividend such as company does not have to borrow it and then pay interest on the loan which will incur extra cost. The dividend policy is devised by the directors and they prefer to use retained earnings as an attractive source of fund. Bank lending: Banks are also another important source of funds these days. They lend money to business organisation and charge interest rate on it. The banks lend short term loans in terms of overdraft and short term loans. An overdraft is given by bank which company has to pay back within the set limits. The interest is charged but at a variable rate. Whereas the short term loan is the loan extended by bank for the period of up to three years. Medium loans are another type of loans that are given by banks for the time period of more than three years. The type of loan extended by the bank depends on the credit history of the company. Leasing: There are two types of parties in a lease agreement i.e. lessee and lessor. Lessor is the person who is the owner of the asset and lessee is the person who is willing to use that asset with the payment of certain amount of money. The agreement is signed between two parties after which lessee is allowed to use the asset but he has to make certain amount of payments for certain period of time. We can say that lease is another type of rental. There are different types of assets that can be leased out such as building, house, land furniture, equipment and vehicles etc. There are two different types of lease; operating lease and finance lease. Operating lease is the lease of the equipment for the specified period of time and the lessor has the responsibility of the maintenance of that equipment. The lease period is fairly short. Whereas in finance lease the agreement of lease is relatively long in most cases it is the expected life of the asset that is to be leased. Franchising: This is another attractive source of financing the new business venture for many business organisations. This method requires less financing for business organisation to expand. Two parties are involved in franchising agreement that is franchisor and franchisee. The franchisor gives a right to franchisee to operate its business using the franchisors name but in return franchisee has to pay certain amount of money. The franchisee has to pay an upfront fee to franchisor that covers the business set up cost and then monthly or yearly payments are made that is certain percentage of the franchisee profit. 3.1 select appropriate budgetary targets for an organization The budgeting is very important and essential part of any organisation as it is similar to financial plan that shows the allocation of the financial funds that are available to an organisation to different expenditures. The main drivers of the budget of any organisation are the mission, vision and objectives of that specific organisation. The budget of the business organisation includes different variables Revenues Expenses sales output operating cost fixed cost profits cash flow capital investment The budget of the organisation of the coming year is based on certain key assumptions that are made about the most likely business conditions of the organisation. This help to produce a detailed budget of the organisation which includes monthly sales level, the overall production and also the different expenditures. Business organisations should have flexible budget so that they can easily mould with changing external conditions. For example the actual sales can be higher than the expected value so it is important to change the budget and to increase the costs related to it such as overhead cost, variable cost, labour cost etc. 3.2 participate in the creation of a master budget for an organization Sales (in billions): 1st Quarter  £33,000 2nd Quarter  £30,000 3rd Quarter  £32,000 4th Quarter  £36,000 Costs (in billions): 1st Quarter  £29,000 2nd Quarter  £29,800 3rd Quarter  £29,970 4th Quarter  £31,250 Selling Expenses (in billions): Variable cost: 3% of Sales Fixed cost: (divided in fo

Inadequate Social Change of Booker T. Washington Essay -- African Amer

There has been much debate over Booker T. Washington and the effectiveness of his work at Tuskegee Institute. Some believe that he was a pioneer for black education in a time when few had the opportunity. Others believe that his conformity to the white ideal of what a black man should be hindered his ability to create real social change for his race. In his autobiography, Up From Slavery, Washington maps out his life from its humble beginnings as a slave up through the success of his school, Tuskegee Institute. He is quick to drop names of the important white businessmen and prominent citizens to ensure their support for his school. However, he is also quick to push his students to be productive members of their society. Through closer examination, can Washington's true views shine through? Did he win victories for his race through playing by the rules of white society or did he give in to their demands in pursuit of his own glory and "savior" status? Perhaps no one will ever know what was truly in his heart, but his public actions did not incite severe, complete, lasting social revelations for his African American brothers. In his Tuskegee school, he promoted the value of labor and hard work. The students built every building on the campus and took pride in their labor. They learned to read and write and many other industrial skills while working around the campus. Washington stated in his autobiography, My plan was to have them, while performing this service, taught the latest and best methods of labor, so that the school would not only get the benefit of their efforts, but the students themselves would be taught to see not only utility of labor, but beauty and dignity (Washington 103). Washington restricted t... ...ar that his intentions might have been good but his execution came out weak as he allowed himself to get consumed with desires for power and recognition. In the end, he became known in history as an "Uncle Tom" figure and unable to create any lasting change. But perhaps, his failure was essential to the development of the 1960's Civil Rights Movement. Leaders of that time saw his weaknesses and this time they would not make the same mistakes. They learned through Booker T. Washington's experience that playing by the white man's rules and moving up the ladder of their system would not give them the freedom they sought. Washington provided the experience needed to allow leaders that followed him to be successful in their fight for freedom. Works Cited Washington, Booker. Up From Slavery: The Autobiography Of Booker T. Washington: Aun Autobiography. Citadel, 2001.

A Time To Kill Essay -- essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  In A Time To Kill, by John Grisham, two drunken white men violently raped, beat, and nearly killed a 10-year-old black girl named Tonya Hailey. Her father, in a clouded rage, executed the two rapists with an M-16 on their way out of the courthouse. His vigilante form of justice was not well taken by many in prejudiced Ford County, Mississippi. On the other hand, he had lots of support from the black community and from any white person whom dared to step into his shoes. A young, thirty-something lawyer named Jack Brigance was hired as his defense. He personally hoped it would give him national recognition, but his outlook turned sour when an all-white jury was drawn to decide on the fate of this Negro man. As the case gained popularity, the KKK got involved, and everyone involved in the court case was put in severe danger through shootings, riots, bombings, and random acts of violence. The non-stop action this book has to offer would keep any reader on the edge of his seat through the last page of the novel.   Ã‚  Ã‚  Ã‚  Ã‚   The story begins with the horrific, detailed rape of Tonya Hailey. Besides being the most disgusting series of events in the entire book, the reader has no choice but to pray that the little girl will make it out alive. Through all of the beatings and tortures, she luckily survives, offering a sense of relief and finality. Shortly after, though, the action picks up again with the sheriff’s search for the rapists...

A Comparison of Barna di Siena’s Mystic Marriage of Saint Catherine and

A Comparison of Barna di Siena’s Mystic Marriage of Saint Catherine and Rogier van der Weyden’s Saint Luke Drawing the Virgin and Child Development in art often follows two tracks: development over a period of time and also differences in regional development. Both changes are seen in the comparison of Barna di Siena’s Mystic Marriage of Saint Catherine and Rogier van der Weyden’s Saint Luke Drawing the Virgin and Child. Originating in Italy, the Renaissance began in the mid to late 13th century. Barna da Siena was one of the early Renaissance artists influenced by Duccio di Buoninsegna and Simone Martini. Barna di Siena’s painting is dated around 1340 and Rogier van der Weyden’s painting was painted nearly a century later around 1435. Rogier van der Weyden had the advantage of development in perspective and modeling that developed over time, but was also from the Flemish school of art, a style totally different from that of the early Italian Renaissance artists. What lends these paintings so readily to comparison is the fact that the general symmetrical composition of two main figures and the sizes of the two are approximately the same. However, it is clear that a century and a different region has created stylized differences that are very clear. Barna di Siena’s Mystic Marriage of Saint Catherine exhibits a highly dramatic style that was not seen in his mentor nor in his fellow student Lippo Memmi’s work. The symmetric composition consists of two main figures, Saint Catherine and the adult Jesus. In the painting, Jesus is seen placing a ring on Saint Catherine’s finger and taking her as his spiritual bride. Both figures appear to be very light and frail and the draperies they wear do not show the human f... ...rlapping figures, relative positioning from the ground line and also the illusion of making parallel lines join somewhere far away in the distance. These two paintings represent typical examples from 14th century Italian artist, Barna da Siena, and 15th century Flemish artist, Rogier van der Weyden. Both images depict two main characters in a rather symmetrical composition and are of large size. However, it is clear that over a century and different region the stylized differences are very clear. Realism, the style of Flemish artists at the time, with all of its detail, is quite different from the large, flat shapes of color in Barna da Siena’s painting. Just by looking at the two, it is evident that the second painting is more advanced and developed. Art continues developing along different tracks today and who knows what art will develop into in the future.

Classical and Operant Conditioning

Classical and Operant Conditioning Classical conditioning is a basic form of learning in which one stimulus comes to serve as a signal for the occurrence of a second stimulus. During classical conditioning, organisms acquire information about the relations between various stimuli, not simple associations between them. (Psychology, pg. 170). In classical condition a stimulus, or a physical event capable of affecting behavior, that initially doesn’t elicit a particular response can obtain the capacity to elicit that response as a result of repeated pairing with a stimulus that can elicit a response.Classical conditioning became part of a careful study in the early twentieth century, when the Russian psychologist Ivan Pavlov identified it as an important behavioral process. Pavlov started out his research focusing on the process of digestion in dogs. Along his research he noticed that the dogs from his studies often began to salivate when they saw or smelled food but before they even tasted it. Some of the dogs even salivated at sight of the pan where the food was kept, or at the sight of the person who usually brings the food. Pavlov said that the stimuli had somehow became signals for the food itself.The dogs had learned that when the signals were present, food would soon follow. Pavlov quickly recognized the potential importance of his observation and started shifting his research. His experiment started out with a neutral stimulus, or a stimulus that has no previous effect of salivation such as the bell. He rang the bell then immediately followed it by a second stimulus know to produce salivation, such as a dried meat powder that was placed directly in the dogs mouth. The meat powder is considered to be the unconditioned stimulus or UCS, because the ability to salivate was automatic and not learned.On the flipside the salivation of the dog to the meat powder is the unconditioned response or UCR. The bell now is termed the conditioned stimulus or CS beca use the ability for it to elicit saliva from the dog is dependent on being paired with the meat powder. Salvation in response to just the bell is called the conditioned response or CR. He found that if you ring the bell then give the god the meat powder soon or later the dog will start to salivate just to the ring of the bell without the meat powder even present.Extinction is the process in which you lose the ability to evoke conditioned response when it no longer is followed by a unconditioned stimulus. In the case of Pavlov’s dogs, extinction could occur if Pavlov kept ringing the bell and not following it up with the meat powder. This means the dog no longer salivates in response to the bell. If Pavlov keeps ringing the bell sometimes the dog might remember about the meat powder and salivate even though no meat powder is present. This is called reconditioning.This means the rapid recovery of a conditioned response (CR) to a conditioned stimulus (CS)- unconditioned stimulus (UCS) pairing. Let’s say Pavlov stops working with the dogs for several weeks because he is working on other research, then suddenly goes back to the dogs and rings the bell, the dogs should in theory then salivate due to a process called spontaneous recovery. This is the reappearance of a weakened conditioned response (CR) to a conditioned stimulus (CS) after an interval of time following extinction.If Pavlov was cooking something and the timer goes off making a ringing sound, the dogs most likely would salivate because of a process called stimulus generalization, or the tendency of stimuli similar to a conditioned stimulus (CS) to evoke conditioned responses (CR). Through the process of stimulus discrimination, or the process by which organisms learn to respond to certain stimuli but not to others, the dogs will salivate to the ring of a bell but if the door bell rand they would not salivate because they discriminate and can tell the difference between the bell and the doo r bell.Psychology. about. com says that classical conditioning is used in everyday life by many dog trainers helping to train people’s pets. Some techniques are also helpful in the treatment of many phobias or anxiety problems. Teachers can apply classical conditioning in the classroom by creating a positive classroom environment to help students overcome anxiety or fear especially with classroom speeches. It helps to get the student relaxed instead of anxious. Operant conditioning is a process through which organisms learn to repeat behaviors that yield positive outcomes.In operant conditioning it is broken down into reinforcements and punishments. In the reinforcement part there are two reinforcers, positive and negative. A positive reinforcement is a stimulus that strengthens responses, and a negative reinforcement is a stimulus that strengthens responses that permit the organism to avoid or escape from their presence. An example of a positive reinforcement is when I broug ht home my report card in 6th grade and there were all A’s my mom and dad gave me 5 dollars for every A.The target behavior for that example would be the getting A’s and the positive reinforcement would be my parents giving me 5 dollars an A. An example of a negative reinforcement would be on a cold and dark morning your all snug and warm under your covers, and suddenly your alarm clack goes off across the room. Getting out of the warm bed is the last thing you want to do but the noise is intolerable. The target behavior is turning off the alarm, and the negative reinforcement is getting out of the warm bed in order to turn off the annoying alarm clock.The punishment section of operant conditioning is broken in half just about the same way. There is negative and positive punishment. In negative punishment, the rate if a behavior is weakened or decreased because the behavior is linked to the loss of potential reinforcements. An example of a negative punishment is in a k indergarten class a young boy lashes out and hits the teacher in the stomach with a pencil as he throws it. The teacher sentences him to 10 minutes in the time out corner. The target behavior is the lashing out and throwing the pencil.The negative punishment is the 10 minutes of isolation in the corner. In positive punishment, stimuli weaken responses that precede them. For example you are driving home from work at an excessive speed, About 25 mile per hour over the speed limit. As you go over the little hill you see a state trooper parked on the side of the highway with his radar gun pointed right at you. The next thing you know is the flashing lights are right behind you and pulling you over. You get a pretty hefty ticket for your speeding. After you pay your fine you always obey the speed limit signs.The target behavior in this example is the speeding and the positive punishment is the speeding ticket you receive for speeding. B. F. Skinner is known as the father of operant condi tioning. He invented a box called the Skinner box where a rat is trapped inside with a lever. Every time the rat presses the lever it receives a food pellet. Shaping might have to be used in order to get the rat to press the lever. Shaping is a technique in which closer and closer approximations to desired behavior are required for the delivery of positive reinforcement.Basically this means Skinner might have had to shock the rat’s feet when the rat started going the wrong way. That way it will remember to not go that way. When it finally presses the lever the food pellet drops and it works as a positive reinforcement because if the rat got a food pellet from pressing the lever maybe he will do in again and remember that whenever you press the lever you get rewarded with a food pellet. There are many different schedules of reinforcement you can follow. A schedule of reinforcement is rules determining when and how reinforcements will be delivered.A continuous reinforcement sch edule is a schedule in which every occurrence of a particular behavior is reinforced. A fixed interval schedule is a schedule of reinforcement in which a specific interval of time must elapse before a response will yield reinforcement. There is also variable-interval schedule which is a schedule in which a variable amount of time must elapse before a response will yield reinforcement. A fixed ratio schedule occurs only after a fixed number of responses have been emitted.Variable-ratio schedules are delivered after a variable number of responses have been performed. The last is a concurrent schedule of reinforcement. It is situations in which two or more behaviors each have its own reinforcement schedule and are simultaneously available. Works Cited * Baron, Robert A. Psychology (With Mind Matters CD-ROM). Danbury: Allyn & Bacon, Incorporated, 2000. * â€Å"Classical Conditioning – Introduction to Classical Conditioning. † Psychology – Student Resources – Psychology Articles. 06 Jan. 2009 . * Plotnik, Rod, Haig Kouyoumdjian, Dennis Coon, and John O. Mitterer. Introduction to Psychology 1505. Cincinnati State Technical & Community College. Mason, Ohio: Cengage Learning, 2008. * Skinner, Burrhus F. About Behaviorism. New York: Alfred A. Knopf, Inc. , 1974. * Staddon, John. The New Behaviorism : Mind, Mechanism and Society. New York: Psychology P, 2000. * Wade, Carole, and Carol Tavris. Psychology. New York: Addison-Wesley Longman, Limited, 1996. * Watson, John B. Behaviorism. New York: The People's Institute Company, Inc. , 1924.

Individual Right vs Public Order

Running head: INDIVIDUAL RIGHTS VS. PUBLIC ORDER Individual Rights vs. Public Order Ashley Perez Mountain State Univeristy Summer 1 2011 When our four fathers came together and created the Bill of Rights, they did not think it would last as long as it did. They created something that determines everything in the world, when it comes to crimes and issues. They set up rights for the people to protect the people. The first ten amendments of the Bill of Rights are particularly important to criminal defendants facing formal processing by the criminal justice system (Schmalleger, F. 2008). We were giving rights, for us individuals. Individual rights are the rights guaranteed to all members of the American society by the U. S Constitution ((Schmalleger, F. , 2008). As the world advanced, so did the criminal justice system. This caused more of an emphasis on individual rights that was accompanied by the dramatic increase in reported criminal activity worldwide. Just in the sevenths and eight ies, F. B. I. ‘s traditional crimes, murder, rape, and assault increased.With individual rights, came due process. Due process is procedural fairness. Fairness is the idea of doing what is best. It may not be perfect, but it is the good and decent thing to do. It requires being levelheaded, uniform and regular, when all around you is prejudice, corruption, or the desire of an angry mob to see justice done. Fairness requires breadth and depth ( Stevenes, M , 2003). Not only does the outcome have to be fair, but also so does everything along the line such as evidence gathering and presentation. Stevenes, M. , 2003). The due process standard was served in the sixties, by the warren courts. From the beginning, the individual-rights revolution had two critics. First, critics disputed the premise that the government cannot be expected to honor behavioral norms without being subject to an adversarial process (Super, D. , 2005). Second, critics asserted that enforcing norms through in dividual rights has heavy costs in the form of lost managerial efficiency of government programs (Super, D. 2005). In the Mathews v. EldridgeJ case, these critiques provided the basis of two of the three prongs of the central due process (Super, D. , 2005). Court's decisions declining to imply private rights of action to enforce statutes and regulations (Super, D. , 2005). Because of this , a movement for over ten years had enforced the rights of several politically weak groups such as immigrants, prisoners, people of troubled families and people suspected to be connected to terrorism.Of the movement , responses have attacked the individual-rights revolution, braking it into two main forms. First, champions of individual rights have emphasized the importance of those rights, sometimes finding substantive value in the procedures of individual adjudication (Super, D. , 2005). Second, they have sought to rebut assertions that government agencies can be counted upon to conform to legal norms without giving individuals the ability to enforce those norms (Super, D. , 2005). Mathews v.Eldridge factors: the individual interest and the risk of erroneous deprivation. however, champions of individual rights have implicitly conceded their opponents' contention that interposing individual rights has a cost in terms of the efficiency of the underlying government activity(Super, D. , 2005). After September eleventh, the world went on a permanent shut down. No one knew who did it and why. Shortly after the towers where down, we all knew something was to come of this, but we did not how much it would change our society today.We knew that the tower where knocked down by terrorist from the Middle East, but we did not know what they looked like. The world, as a whole, went crazy, and any one and everyone who was of Middle Eastern descent or even looked like they where from the middle east where thrown in jail. People began to judge people by what they looked like, and did not giv e any one a chance. Air ports where placed under high security, and for the first ever people where thrown out of line just because their shoes did not match. Everything was being over looked, and studied.We had U. S Marshals on just about every flight; we did not want something like nine eleven happen again. Just 45 days after the September 11 attacks, Congress passed the USA PATRIOT Act. There are significant flaws in the Patriot Act, flaws that threaten your fundamental freedoms by giving the government the power to access to your medical records, tax records, information about the books you buy or borrow without probable cause, and the power to break into your home and conduct secret searches without telling you for weeks, months, or indefinitely (ACLU,2007).The USA PATRIOT Act was intended to break down those barriers and respond to new communication technologies in a number of ways (Pike, G, 2006) . The act broadened the definition of terrorism, permitted extensive sharing of intelligence information, made it easier to get warrants to conduct intelligence investigations, increased the secrecy relating to search warrants, and expanded the scope of information that could be obtained (Pike, G, 2006) . Partially due to its haste in passing the act, Congress decreed that many-but not all-of the PATRIOT Act's provisions would expire on Dec. 1, 2005(Pike, G, 2006) . A cursory review of the legal literature shows that the USA PATRIOT ACT was â€Å"rushed† passed Congress by the Bush administration without following the usual legislative procedure (Wong, K, 2006). Throughout the entire legislative process, neither the Congress nor the Administration has systematically investigated and critically debated the merit–necessity and efficacy, costs and benefits, and the impact and implications of the ACT on the Constitution, on the society, on the people (Wong, K, 2006).In reality the idea of introducing an act, at the time they did, was good, but the mor e we thought about it, we realized it goes against everything our four fathers worked hard to put together. We used to live in a world where we where the top dogs and everyone wanted to be like us. Now with all that has happened in the past few years, there is always that big brother over our shoulders, and he is not leaving any time soon. We live in a world where there are sick minded people, who kill people, and kid nap little kids. Where you are never alone and some one is always listening, even when you re the only one in the room. What ever happened to the fourth amendment right: The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized. We are still entitled to this right , but how are if the at any moment i n time the government can say hey lets see who so and so are talking to right now?It appears as if all the rights and laws created just go back and forth with each other. I thought we were an organized society. How can we say that we will follow the fourth amendment, when we have a completely new act that reverses everything that we are entitled to? We are living in a messed up time, nothing ever seems to make sense, and we are supposed to just know things. We are learning new things everyday, but they just keep changing. How are supposed to know our rights, if the people who makes are not even sure about them. We lock up the wrong people, and let the evil doers go.What happened, and how did it all go so wrong. Only if they could us now, this is probably why all other countries hate us with a passion. Lately everything is based on what you look like, and your political views. It has nothing to do with who you are. After the nine eleven attacks, the world began to look differently at all people, we saw sides of people we never saw before. We saw more American flags posted outside peoples homes, hung up in store window, then on the fourth of July. Everyone came together, and stood proud for the time in a long time.The world mental was ready for a fight, but not what we ended up with. Hundreds of lives lost, and many where innocent. When we went to fight, we hit hard, harder then anyone could think. It made us look like we where the bad back , yes we lost hundreds of people in the bombing of the world trade center , but are not supposed to show we are better then them? We lost the trust of the people who we were supposed to be trusting, and faith in the people we loved. We lost all we fought for, for years before this, and to throw it all away.The American world is so messed, that many of us do not even want to tell people they are American when they leave the country for a vacation. The American name has been bashed, and beaten all because of one event. One even t changed our lives forever. It will never be the same, and if you where there, you can never forget the pandemonium that day. The radio stations, gone, no music, just recaps of what happened. No television, just images of how it happened. The news showed pictures of the men who did it and the other who are part of it. The mobs outside, swear they saw one of the people driving a cab, they where all going to look for him.The kids, so confused , yet understanding that this going in the history books for ever, and now reading about in that new edition book, saying I lived it. References ACLU. (2007, January 1). USA PATRIOT ACT. American Civil Liberties Union. Retrieved June 1, 2011, from Http://www. aclu. org/safefree/resources/17343res20031114. html Pike, G. (2006). : USA PATRIOT Act: What's Next?. Information Today, 23(4), 1-2. Schmalleger, F. (2008). Criminal justice: a brief introduction (7th ed. ). Upper Saddle River, N. J. : Pearson/Prentice Hall. Stevenes, M. (2003, June 25). DU E PROCESS OF LAW: PROCEDURAL AND SUBSTANTIVE ISSUES.NCWC. Retrieved June 1, 2011, from faculty. ncwc. edu/mstevens/410/410lect06. htm Super, D. A. (2005). Are Rights Efficient? Challenging the Managerial Critique of Individual Rights‚A ®. Law Review, 93(4), 1051. Retrieved June 1, 2011, from http://proquest. umi. com/pqdweb? did=1222808651&sid=8&Fmt=2&clientId=296 77&RQT=309&VName=PQD Wong, K. C. (2006). The making of the USA Patriot Act I: The legislative process and dynamics. International Journal of the Sociology of Law, 34(3), 179. Retrieved May 30, 2011, from http://proquest. umi. com/pqdweb? did=1199189181&sid=6&Fmt=2&clientId=296 77&RQT=309&VName=PQD

PRICE and NON PRICE COMPETITION markets

An agreement made by where purchasers and Sellerss coming close contact with each other for the intent of purchasing and merchandising of goods and services straight or indirectly is described as market. Perfective Competition Monopolistic Competition Monopoly CompetitionMarketOligopoly Competition Duopoly CompetitionMonopoly MarketSingle house No replacement Monetary value shaper Downward inclining supply curve Entry barriers No competitionPerfect MarketMonetary value Homogeneous merchandises Large figure of purchasers and Sellerss Free entry and free issue Perfect cognition Perfect mobility of factors of production Absence of conveyance costDUOPLOY Market2 Sellerss Restricted entry Sellers have some market power Close replacement might be differentiated Demand curve downward sloping Equilibrium point is MR =MCOligopoly MarketFew Sellerss Homogeneous and differentiated merchandises Restricted entry Imperfect information Mutuality and changeless battle Very high monetary value snap High merchandising cost Lack of uncertainnessMONOPOLISTIC MarketLarge figure of purchasers an Sellerss Merchandise distinction Free entry High merchandising cost Two dimensions of competition Monetary value Non monetary valueDIFFERENCE BETWEEN PRICE AND NON PRICE COMPETITIONFooting NON PRICE Monetary valueMeaningMarketing scheme in which one house tries to separate its merchandise or service from viing merchandises on the footing of properties like design and craft † Selling scheme where a company tries to separate its merchandise or service from viing merchandises on the footing of low monetary value.FocusThe focal point is on quality, deign, bringing methods, locations, particular services The focal point is on lone monetary value of the merchandise.Net incomeIt is normally more profitable than selling for a lower monetary value, and avoids the hazard of a monetary value war. The company may take to stand in normal net income or normal net income.Selling CostSelling cost is high as the company pass a batch on promotional activities Selling cost is low as company focuses on monetary value factor more than promotional activities.MarketMost common among oligopolies and monopolistic competition, because houses can be highly competitory. Due to inordinate completion, a state of affairs of monetary value wars occurs in oligopolistic and monopolistic marketsExamplesShampoo Market Mobile service suppliersNON PRICE COMPETITIONApplicable to all markets except perfect & A ; monopoly market. Single purchaser in monopoly so no competition.PRICE COMPETITIONApplicable in all types of markets except monopoly market All are monetary value takers & A ; monopoly is monetary value shaper.NON PRICE COMPETITIONProduct distinction is the procedure of separating a merchandise from other merchandises in the market by adding alone characteristics like manner, quality, offers etc which makes it more attractive and superior to the mark market. The success of the merchandise distinction is more based on non monetary value factors non monetary value factors and successful distinction gives origin to monopolistic competition and sometimes to hone competition besides.There are three types of merchandise distinction:1. Simple: based on a assortment of features 2. Horizontal: based on a individual feature but consumers are non clear on quality 3. Vertical: based on a individual feature and consumers are clear on its quality3 Elementss of monetary value distinction1. Convenience- as the altering scenario client wants the merchandise every bit shortly as possible. So the house should seek to present the merchandise available on clip. 2. Customization- harmonizing to the demands of the clients the merchandise must alter in footings of sizes, colour, design, engineering etc 3. Cost recovery- this is the cost that is deserving bear downing. It doesnaa‚ ¬a„?t average really high or really low but should be sensible harmonizing to the merchandise.Non monetary value determiners of demandIncome of the consumer There is direct relation between the income of the consumer and demand for it. By and large, higher the income, higher the measure demanded and lower the income lower the measure demanded. Monetary value of the related good In instance of replacement goods, demand for a trade good falls with the autumn in the monetary value of other trade goods In instance of complementary goods, monetary value demand of a trade good rises with the autumn in the monetary value of other trade goods. Taste and penchant If the client has developed a gustatory sensation for a trade good, the demand will increase If he has no gustatory sensation and penchant for the merchandise, the demand will diminish. Seasonal factors The demand keeps on altering harmonizing to the conditions conditions. Summers will increase the demand of soft drinks whereas winter will increase the demand og woollens. Number of purchasers The demand of any merchandise depends on the figure of purchasers of the merchandise. More the purchasers demand will be high, less the figure of purchaser demand will be less. , Future outlooks If the monetary value of any trade good is expected to lift in future, clients starts purchasing prior to that and if the crowbars are expected to come down in future the client postpone his purchasing to acquire the benefit.NON PRICE DETERMINANTS OF SUPPLYInput signal monetary values As the input monetary values increases, the supply will be affected and will fall down. Technology Measure of the stuff required depends upon the engineering. Cost salvaging engineering consequences in autumn in input monetary values and therefore addition in the supply. Number of Sellerss With the addition in the figure of Sellerss, the supply besides increases with the curve switching to its right side. Expectations If the monetary values are expected to lift in future, the marketer will do unreal deficit and therefore the supply decreases.ADVANTAGES OF NON PRICE COMPETITIONThe consumers get low monetary values as the accent is non on monetary value itaa‚ ¬a„?s fundamentally on the other factors of the merchandise other than monetary value. To convey fluctuations houses keep on conveying new engineerings which result in more smoothing of the maps and add fluctuation in the merchandise. The accent is non on monetary value and hence the chief focal point is on bettering the quality and the services of the merchandise. Large figure of discrepancies leads to many picks and options for the clients in the market. There is no monetary value war in the market hence it keeps and creates a proper subject in the market which leads to smooth state of affairs. Consumers get more and more fringe benefits in footings of offers and price reductions which attract people and therefore take to competition in the market. A typical characteristic of non-price tools is that they may modify the grade of replaceability among goods.PRICE CONPETITIONPRICE EALSTICITY OF DEMANDThis step the reactivity of measure demanded of a merchandise to alterations in its ain monetary value. It allows comparing of measure demanded with pecuniary alterations It measures the alterationMarketPRICE ELASTICITYPerfect marketMonopoly marketMonopolistic marketOligopoly marketDuopoly marketIn this market the demand is elastic as the merchandises are indistinguishable in nature and are perfect replacement of each other. This market is extremely inelastic as there is 1 marketer who can do alterations in the monetary value and measure demanded consequently. Demand is comparatively elastic, with little alteration in monetary value leads to big alteration in measure demanded as all the merchandises are close replacement of each other. Demand is comparatively elastic as the merchandises are close replacement of each other. Demand is comparatively elastic as there are merely 2 Sellerss in the market and the merchandises are close replacement. For example- If the monetary value of steel and Fe additions what happens to its measure demanded.CROSS ELASTICITY OF DEMANDThe reactivity of demand for one good to a alteration in the monetary value of another ; the proportionate alteration in demand for one good divided by the proportionate alteration in the monetary value of the other.MarketCROSS ELASTICITYPerfect market Monopolistic market Duopoly market Oligopoly market Monopoly market As the merchandises are homogeneous there is a high monetary value cross snap demand. Cross piece snap is comparatively high due to competition and the figure of manufacturers in this market is high Fewer manufacturers in the market so the cross monetary value snap is low. Merchandises are close replacement, so alteration in monetary value will increase the demand of another merchandise. It has high cross snap. Merely 1 marketer in the market and therefore no replacement is available so transverse monetary value snap is non applicableADVANTAGES OF PRICE COMPETITIONPricing policy has a direct impact on the clients as pricing of any merchandise is the first observation of clients. Puting monetary values is relatively a simple undertaking as it does non necessitate fiscal and accounting records to find monetary values No market research is required which involves a high cost. So it saves cost on promotional activities as compared to non monetary value competition. Pricing straight indicates the quality and criterion of the merchandise and therefore the value of the merchandise can be estimated. Price competition divides the sections decently as it clearly points the premium and economic system category. Pricing scheme helps a batch to new participants come ining in the market to derive market portion.DecisionMonetary value and non monetary value, both have different impact on the markets. As observed in the above assignment it is seen that monopolistic market is the market state of affairs which is most influenced by both the schemes i.e. monetary value and non monetary value.This assignment is all my ain work and has non been copied in portion or in whole from any other beginning, except for any clearly marked up citation. It complies with the Instituteaa‚ ¬a„?s ordinances on Plagiarism which I have read and understood.