Profile of the Pharmaceutical Industry Essay - 534 Words

Industry Profile Name: Pharmaceutical preparation SIC: 2834 Industry Description The pharmaceutical industry, one of the most profitable industries in the world, develops, manufactures, and markets drugs or pharmaceutical products. The world pharmaceutical manufacturing industry generates over $950 billion in revenue on average with growth rate of about 4%, and expected to reach $1.1 trillion by 2014. Industry revenue will grow as a result of the worlds aging population boosting healthcare demand, and of increased access to more comprehensive healthcare in emerging economies. In particular, the US pharmaceutical manufacturing and preparation industry contains around 1,500 companies, and accounts for over one-third of the global†¦show more content†¦Key current trends The pharmaceutical industry is, and has been for years, one of the most profitable industries in the world. Currently, though, it is mainly growing by trimming costs, devising more efficient methods for research and development and completing mergers and acquisitions. The industry relies on advances in medical technology to develop new products that address unmet needs; however, the pace of development has slowed considerably while the costs have risen dramatically. The development of blockbuster drugs has been slowing, making it difficult for research-intensive pharmaceutical companies to recoup RD costs via revenue from multibillion-dollar products as in the past. Consequently, RD focus is shifting to less-lucrative products or those that occupy niche product segments. As an increasing number of key products lose patent protection, enterprises face heightened competitive pressures from generic drugs. Maturity of the industry The pharmaceutical industry has a relatively long life cycle (about 45 to 50 years) and is currently in the mature stage of its life cycle. Its contribution to GDP is forecasted to grow 1.7% per year on average, compared with global GDP growth of 5.4% per year on average. Further, the merge and acquisition activity has been prevalent over the past decade, so the number of companies is expected to remainShow MoreRelatedPharma Industry Analysis1714 Words   |  7 PagesThe Pharmaceutical Industry 1. Origins and Evolution The modern pharmaceutical industry is a highly competitive non-assembled1 global industry. Its origins can be traced back to the nascent chemical industry of the late nineteenth century in the Upper Rhine Valley near Basel, Switzerland when dyestuffs were found to have antiseptic properties. A host of modern pharmaceutical companies all started out as Rhine-based family dyestuff and chemical companies e.g. Hoffman-La Roche, Sandoz, Ciba-GeigyRead MoreFuture Of Pharmacovigilance ( Pv ) Outsourcing India Essay1318 Words   |  6 PagesFuture of Pharmacovigilance (PV) Outsourcing in India Abstract Over the past few decades, many high-profile drug recalls, regulatory authority warnings and negative media impact have caused monetary losses and tarnishing of the image of pharmaceutical companies. Consequently, these companies have invested heavily on PV systems. For a pharmaceutical company, setting up a PV system in-house is not always cost effective and finding qualified and trained resources is a huge challenge. Thus, these companiesRead MoreCompany Profile Of Jubilant Organisms Essay1090 Words   |  5 PagesCompany Profile Jubilant Organisms is a collaborative, innovative provider of products and services to the global life sciences industry, striving to accelerate the process of pharmaceutical drug approval. We have a presence across the pharmaceuticals value chain ranging from drug discovery services, custom research and manufacturing services, advance intermediates and fine chemicals to active pharmaceutical ingredients, dosage forms and regulatory affairs services. We also enjoy leadership in IndustrialRead MoreSwot Analysis Of Apotex1400 Words   |  6 PagesBackground Apotex Inc is a Canadian pharmaceutical company that was founded in 1974. Today, it employs over 10, 000 people world-wide in research, development, manufacturing and distribution divisions (â€Å"About Apotex†, 2017). Moreover, it is one of the top twelve research and development companies in Canada and has a global presence through exports and strategic alliances (Apotex Inc. - Complete profile - Canadian Company Capabilities - Industries and Business - Industry Canada, 2017). Apotex startedRead MoreEffects of Potential New Healthcare Regulations in the US: Abbott Inc Case Study687 Words   |  3 PagesStock Exchange, is engaged in pharmaceuticals and diversified medical products, with $39 billion in sales over 2011 and a market capitalization of over $102 billion (Yahoo! Finance 2012a, n.p.). Abbot claims sales grew 10.5 percent over 2010-2011, delivering cash flow of $9 billion which allowed for increasing dividends the firm claims amounted to $3 billion to shareholders (Abbot, 2012, p. 2). This growth was robust enough the firm is spinning off its pharmaceutical research and production sectorRead MoreA Diverse And Sustainable Compound Library For Aid Drug Development And Sales1185 Words   |  5 Pages________________________________________ Public Profile The consumer-facing side of your profile is written so anybody can easily understand your product or service. Information about the investment opportunity is detailed on the â€Å"Business Plan† side of the profile to maintain compliance with SEC ‘general solicitation’ regulation. Carmolex Inc. 3-5 sentence â€Å"quick pitch† outlining key takeaways that will be explored in more depth within the body of the profile. Pharmaceutical companies need robust and high qualityRead MoreTeva Pharmaceuticals Strategy Case Paper1073 Words   |  5 PagesTeva Pharmaceuticals Strategy Overview 4/22/2013 PARTHIBAN SELVAM SMU MBA 2013 Business Overview: Teva Pharmaceuticals is a pharmaceutical company specializing in generic and proprietary drugs. It is the world’s 11th biggest pharmaceutical company. Apart from its major market, US and Europe, it has a major presence in Russia, Latin America, Japan and South Korea. In 2012, it had revenue of 20.3 billion and a net income of 1.96 billion (see table 1). Target Customers: Teva pharmaceutical’sRead MoreBiotechnology Industry Analysis1121 Words   |  5 PagesBiotechnology  industry Analysis BACKGROUND The health care industry Provides health products and service which involved the leading technology of life science. It is a fast-growing industry and will continue to grow in the future because of the increasing request to the advanced medical care. The Global Industry Analysis (GIA,2009) predicted that the prescription drug market is value around $897 billion in world economy in 2015, and Asia-Pacific region is expected to have highest growth in prescriptionRead MoreMarketing Analysis : Ranbaxy Laboratories1306 Words   |  6 Pages1. Industry Analysis: By 2020, India is likely to be among the top three pharmaceutical markets by incremental growth and sixth largest market globally in absolute size The Indian pharmaceuticals market increased at a CAGR of 12.79 per cent in 2015 from US$ 6 billion in 2005, and is expected to expand at a CAGR of 15.92 per cent to US$ 55 billion by 2020 Over 2012–20, total healthcare spending is expected to rise at a CAGR of 20 per cent to US$ 280 billion from US$ 65 billion Pharmaceutical salesRead MoreActavis Pharmaceutical Company Essay1045 Words   |  5 Pageschosen and why Actavis was the organization I decided to conduct my research on due to the company being a pharmaceutical company, with the pharmaceutical company on the raise in the economy and many insurance and doctors leaning towards generic brand medicine Actavis was a great pick for me to start my career and do my research on them as well to give me an idea of how the pharmaceutical industry works. Business management is currently my major and I fore see myself working as business administrator

Kate Chopin s An Hour - 1425 Words

When we think about marriage, we think it is happy moments with loved ones. It is knowing that someone has your back. Also, it is wishing you were the one having the operation or the ill. Not him. It is hard work that not all people can handle. Marriage is hard work that needs to be made from love. Wife needs to be the person that keeps the house in good look and supports her husband. As for husband he needs to be the head of the family that helps his wife to keep their marriage. Marriage is built on love, understanding and support of each other. In the marriage, it is important to keep each other happy. If the love and happiness disappear from marriage, it is hard to keep the family together. In those two short stories there is love, but†¦show more content†¦Louise says to herself that now she is free over and over she says that she is free. As for many Mary is don’t repeat the word free, but she knows that now she is free from her husband. Equally they feel that th eir marriage the worthiest thing for them. Those two women had in common a secret that they were unhappy and maybe beaten by their husbands or maybe they were forced to get married to them. William was strict to everything that Mary was doing. Also, â€Å"he had also disapproval of children, and as a result they had never had any of them either.†(William and Mary 190). It is interesting that for thirty years that they lived together they never had children. Maybe if they have had a child, William wound changed from cold husband to a warm father. Similar was Louise with her husband they also did not have children during the time they were together. Now after she is free, â€Å"She knew that she would weep again when she saw the kind, tender hands folded in death; the face that had never looked save with love upon her, fixed and gray and dead. But she saw beyond that bitter moment a long procession of years to come that would belong to her absolutely. And she opened and spread her arms out to them in welcome† (Chopin 1). She is thinking about future moment and happy moment in her life. â€Å"There would be no one to live for her during those coming years; she would live for herself. There would be no powerful will bending hers in that blind persistenceShow MoreRelatedKate Chopin s An Hour1812 Words   |  8 PagesAuthor Kate Chopin is famous for some of the most influential feminist stories and novels in the Western canon. â€Å"The Story of an Hour† is one such text. In this story, Chopin tackles many of the concerns that are essential to feminism, including the willpower and expression of a woman’s distinctive identity separate from the identity of her husband and the right of a woman to identify and experience her own interests. While there is an aspect of this story that is provocative, namely, that Mrs. MallardRead MoreKate Chopin s An Hour857 Words   |  4 Pagesunderstanding of how various emotions can effect an individual ; this is a consequence of being human. The broad variety of different emotions that Kate Chopin fit into â€Å"The Story of an Hour† presents the story with a perspective that is very intelligible. While some readers may not understand what it is like to live a sheltered life due to marital convention, Chopin laid out the emotional path that the protagonist takes and simplified it into individual, coherent feelings that a woman in the late nineteenth-centuryRead MoreKate Chopin s An Hour899 Words   |  4 PagesThe author has to choose the gender of their main character, and by Kate Chopin choosing a woman it set a completely different mood to the story rather than it being a man. The time this story was written were women were suppose to be submissive and loyal to their husbands, caring and nurturing for their children, and well-bred, catering hostesses. If a woman were to overstep such boundaries, she would be considered unladylike, scandalous, or even immoral. Society lo oks differently upon a personRead MoreKate Chopin s The Hour1361 Words   |  6 PagesStory of the Hour† has been whether or not Mrs. Mallard was oppressed in her marriage or if she was depressed due to the lack of time she and her husband spent together. Time plays a crucial role in the story, from the time they have spent together, to the period of the story, and to the short time in which the story takes place. â€Å"The Story of the Hour,† is a story written by feminist author, Kate Chopin in 1894 that deals with marital instability from a woman’s perspective. Chopin, whose husbandRead MoreKate Chopin s An Hour1273 Words   |  6 Pagesthe probation to ban the consumptions of alcohol, because alcohol attributed to their husbands’ abusive behaviors. Three stories serve as great examples for how women were treated/viewed in overtime. One of those stories is the story of â€Å"An Hour†, by Kate Chopin, which shows us how shows us how women were i n oppressive marriages and desired freedom. Another story called â€Å"Proof†, which was written by David Auburn, demonstrates the negative treatment of women in a male dominated work force. Finally,Read MoreKate Chopin s The Story Of An Hour1579 Words   |  7 PagesKate Chopin’s The Story of an Hour written in 1984 is a story of a woman who, through the erroneously reported death of her husband, experienced true freedom. Both tragic and ironic, the story deals with the boundaries imposed on women by society in the nineteenth century. The author Kate Chopin, like the character in her story, had first-hand experience with the male-dominated society of that time and had experienced the death of her husband at a young age. The similarity between Kate Chopin andRead MoreKate Chopin s The Story Of An Hour1336 Words   |  6 Pagesstatus in society as married women. In the story of an hour, the author, Kate Chopin describes the emotions of a woman who is married and tied down to this oath for the rest of her life. The author uses the ways of the society during that time to construct a story that accurately reflects the feelings of majority of women of that time. The goal of the story is to examine how women were indirectly oppressed during those times. The story of an hour is an interesting short story that begin with tellingRead MoreKate Chopin s Story Of The Hour Essay982 Words   |  4 PagesKate Chopin was an American author who wrote two novels that got published and at least a hundred short stories. In Kate’s short story The Story of the Hour she uses some of her traumatic event that happened in her lifespan in the short story even though it the story is fictional. A lot of her fictions were set in Louisiana and her best-known works focused on the lives of sensitive intelligent women. One-third of Mrs. Chopin’s stories are children’s stories. A lot of Mrs. Chopin’s novels were forgottenRead MoreKate Chopin s The Hour928 Words   |  4 Pagesâ€Å"The Story of The Hour† fully answers its title. It is a story about a woman living her last hour. Not so many things happen during that hour, but in contrast, many thoughts fly through main character’s head and a reader can form an accurat e portrait of a woman’s life from these thoughts. Somebody tells her that her husband is dead. After that she dives into the whirl of thoughts regarding the impact of husband’s death on her future. Some facts or beliefs make this woman think that her husband’sRead MoreKate Chopin s Story Of An Hour993 Words   |  4 Pageswriter’s base their stories of real life experiences and feelings. Kate Chopin largely based her stories off of her own life. Kate Chopin spent her childhood years in an alternative and matriarchal Louisiana town with a family that was unconventional. She challenged her nineteenth century sexist society and used her own life to put strength and feminism into her stories like â€Å"The Storm†, â€Å"Desiree’s Baby† and of course â€Å"The Story of an Hour†. She lived with her mother, grandmother and great grandmother

Controlling Environmental Pollution in UK Free Essays

string(77) " 2005 was successful in bringing about noise reduction in work environments\." Introduction Environmental pollution has been a huge concern since many centuries even in a number of developed nations which were characterized by old civilizations and well settled societies that were later on modified by industrialization and modernization that brought in the need for effective waste disposal and implementation of appropriate and effective measures to reduce the extent of land, water, noise, air and countryside pollution. Noise pollution and air pollution became a major concern only after a few decades following the industrial revolution and attention was given to resolve these issues only after major incidents were witnessed across many places in the world such as the London Smog incident in 1952 that necessitated the country’s parliament to take immediate action and pass legislations (Clay Bassett, 1999, pp. 731-740). We will write a custom essay sample on Controlling Environmental Pollution in UK or any similar topic only for you Order Now River pollution on the other hand also became a great concern at a much later stage when most of the inland rivers had been contaminated with industrial effluents, sewage discharge and untreated wastes. Though the major rivers such as the Thames have become much less polluted and support many fishes after massive efforts that have been taken over the years, other smaller and less popular rivers in interior parts of UK are still being polluted (Farmer, 1997, p. 105). A more detailed introspection of the measures taken by UK is warranted to understand the effects of parliamentary legislations in prohibiting environmental pollution. Controlling Air Pollution Air pollution in UK has been a major concern since many decades and a continuous problem owing to the extent of industrial contaminants, air borne particulate matter and dust. The Dutch Expert committee on Occupational Safety (2010, pp. 20- 74) performed a detailed examination of the level of endotoxins in the air borne atmosphere in various parts of UK. This committee recommended a 90 EU/m3 exposure level to ensure that people do not suffer from respiratory tract diseases due to inhalation of endotoxins though patients with respiratory tract illness, those with asthma and smokers were part of the high risk group. Another regulation that has helped control the release of fluorinated carbons into the atmosphere is the Fluorinated Greenhouse Gases Regulations 2009. An effective way to reduce these emissions would be by monitoring the extent of F-Gas Usage and indifferent sectors and in turn controlling their emissions. The Impact assessment carried out by Defra (2009, 1-107) laid down standards for improving checking, labelling, checking leakage, certification and registration for industries mainly associated with fire protection, stationary and mobile air conditioning and refrigeration, high voltage operations, switch gear and solvent cleaning. The Air Standards Regulations 2010 provides a detailed assessment of the emissions of various pollutants and particulate matter that can be controlled as a duty of the state by measuring at multiple points and checking for the effectiveness of pollution prevention protocol implementation. This regulation defines a clear classification of the various kinds of pollutants categorized as hydrocarbons, particulates, metals, effluents, dust, and ozone depleting pollutants and so on. Hence, this has also proven to be an effective measure to help the state take necessary action to curb and check activities that lead to greater atmospheric pollution. At the same time, it provides a detailed review of the steps that are to be taken for appropriate and regular checking as a part of the state’s efforts in regulating polluting activities. These regulations have helped to elucidate the high level of air particulate pollutants in UK and bring their emission under control. Though the improvement in initial stages till early parts of the twenty first century had been less and slow moving, the developments that have occurred over the later decades have shown significant improvements in making UK part of a better pollution controlled league. Controlling Water Pollution Water pollution is another area that has required massive inputs and efforts in the UK. In earlier days, emissions of chemicals and industrial effluents into nearby water bodies were common practise. Due to this, inland rivers and lakes were greatly polluted and contaminated also making them unfit for water borne fishery and marine harvesting. River catchment management and maintaining water quality took utmost priority during the later half of the twenty first century and a number of regulations were formed to ensure that the water is not polluted further and steps were taken to recycle the wastes and contaminants to improve existing water quality. Ground water abstraction, mineral extraction, waste water management for discharge and effluents have posed a huge concern to UK and are now being handled by the river catchment management. The control of Pollution Act in 1974 began to tighten the quality of river water through stringent regulation of water polluting activities and polluting industries. This set up a consent-based system for compliance, regular sample collection, testing and procedures for sample collection. It laid regulations on the volume, site of outfall and nature of discharges. These have been quite successful in reducing the extent of harmful effluents reaching water bodies though extensive efforts are still required to redeem all water bodies and reduce the risks due to pollution and subsequent water body contamination. Farmer explained that Surface water Directive (75/440/EEC) set out the requirements for quality of drinking water and classified as basic filtration, physical and chemical treatment and extensive physical and chemical treatment to distinguish the three major categories of drinking water. When the water is not purified as per these protocols, it is deemed unfit for drinking, is not certified and subsequently looked down and not consumed by the public in UK (1997, p. 107). Controlling Noise Pollution Noise pollution in UK has also been a matter of great concern and the Pollution control act also address these issues. This gave a the society the right to report instances of excessive noise pollution and require the corresponding activities such as work at a construction site to be re-modelled to produce lesser noise. The control of Noise at work Regulations 2005 was successful in bringing about noise reduction in work environments. You read "Controlling Environmental Pollution in UK" in category "Essay examples" According to these regulations, employees have the duty of assessing noise levels at their work places and also required to follow hearing protection guidelines according t which hearing protection must be supplied to workers when the noise level reached 80 db and workers are to compulsorily wear hearing protection gear when the noise level goes any higher and greater than 80db. Controlling Land Pollution Land pollution has been an area of huge concern especially due to waste disposal on land masses. The environment protection act of 1990 set out rules to help the state manage land pollution by allowing local authorities to carry out land inspections to ensure that they are not contaminated and also take necessary action of clean up and waste disposal for land recovery. Many organizations including DEFRA and the Environment agency are devising schemes to bring about better land redemption techniques and their effective implementation. Along with this effective strategies for land filling and biodegradable and non-biodegradable waste management are being framed to better manage land resources and prevent their pollution. Waste Management Waste Management has been an area of huge concern for many decades owing to the volume of wastes produced on a daily basis and the need for effective system of waste segregation, treatment and suitable means of disposal that does not contaminate the ecosystem. Waste management regulations have become increasingly important in imposing stringent guidelines for waste treatment and disposal. This has helped reduce the harmful effects of improper waste disposal and bring in greater responsibility from industries and individuals in managing non-biodegradable and hazardous waste. The Environment Agency (2010, pp. 2-18)in UK has framed a waste sector plan in which a three year evaluation for 2006 to 2009 was carried out and a detailed report to manage wastes was prepared. The Environment agency has also set out a process for waste collection, subsequent treatment, recovering energy materials and products from wastes and disposal using land filling and other methods. These methods also incorporate safety and health preservation as vital aspects. As a result of the sustained efforts, the waste strategy annual progress report given by DEFRA for 2008/90 (p. 4) had shown significant reductions in household waste amounting to about 26%, biodegradable waste land filling to about 8% and a 9% reduction in illegal waste activity such as flytipping. This shows the positive growth that UK has made in the direction of waste management though the management of hazardous waste still proves to be a concern. Animal Life protection and country side preservation Preservation of wild life and country side in UK has been a long sought after need that has been established through laws in recent years. The country side commission in 1989 set out a few methods to ensure that the country side remains unaltered and undisturbed in the future. This has been brought about more extensively by society based organizations that might even be non-governmental such as the Sid Vale Association and other organizations such as the Campaign to protect rural England that have been successful in preserving the green belts in England and sustaining the ecosystem through public initiative. Pollution Prevention and Control Regulations 2000 One of the strong measures adopted against pollutions and its prevention in UK includes the Pollution Prevention and Control Regulations 2000 which details the requirements for installation of treatment plants, using effective techniques, defining pollutants, acquiring relevant permits for working conditions and requirements that emanate pollutants and compensations in relation to off-site conditions. These are important parameters that determine the effectiveness of these regulations to being about pollution control. This set of regulations is common to business setups such as power generation, manufacturing, waste management, intensive pig and poultry farming and other industries related to landfill sites and solvents. This broad classification has helped to bring about streamlining of many areas including emissions to land, water and air, emergency efficiency, waste reduction, raw material consumption, noise, vibration and heat reduction, accident prevention and conditioning the s ite preserve surrounding natural resources. Hence, this has brought about a major compliance standard for industrial and other setups in UK towards environmental preservation and pollution prevention. Assessment A number of regulations and legislative measures have been implemented in UK over a sustained period of time. Though some of these measures may not have materialized as they are difficult to check and assess on a continuous basis, significant improvements have resulted in over all pollution prevention and control. The efficacy of these regulations to act as regulatory and compliance norms for industries has been noteworthy. Especially the regulations that have been set out in the area of water pollution and waste management have been successful in raising the levels of water quality and reducing pollution due to contaminants. Other areas such as air pollution require a much more detailed introspection as they are more extensive in nature when it comes to contributory elements. The steps taken to control air pollution from the point of view of reviewing by state, permits for industrial setups, regulatory compliance for industrial emissions and air quality checking at different points have now evolved into suitable methods to combat the multi faceted aspects of continually increasing variations of air pollutants. The waste management regulations are now being implemented in all industrial sectors and are hence reducing the burden of solid waste and contaminants on the environment through the adoption of appropriate treatment methods. Yet, certain amounts of pollutants eventually reach the water bodies or barren lands which need to be curtailed. The country side preservation has been a more recent initiative and though the originally present natural environment and wild life cannot be regained completely, current efforts will prove to be contributory to improve the existing countryside environment. Conclusion Regulatory measures in the UK to control pollution of water and land have been multi-fold, yet they have not reached every part of the country though they are country wide standards. These measures have been successful in bringing down the levels of water and land pollution to a great extent and have also helped to recover water bodies such as Thames River in UK. The improvements in waste management are also noteworthy. Air pollution is one area that requires extensive planning and continuous appraisal due to a number of factors. Better implementation of the regulations already present and the framing of newer regulations to address other needs in the changing international environment will contribute greatly towards sustained improvement and preservation of the natural environment. REFERENCE LIST: Clay, H, H, Bassett, W, H 1999, Clay’s Handbook of Environmental Health, 18th edition, Taylor Francis, London, UK. Department for Environment food and Rural Affairs, DEFRA, (2000) The Pollution Prevention and Control ( England and Wales) Regulations. London: HMSO. Department for Environment food and Rural Affairs, DEFRA, (2008) Impact Assessment of Fluorinated Greenhouse Gases Regulations 2009. London: HMSO Department for Environment food and Rural Affairs, DEFRA, (2009) Waste Strategy: Annual Progress Report 2008/2009. London: HMSO Dutch expert Committee on Occupational Safety (DECOS), a Committee of the Health Council of the Netherlands. Endotoxins: Health-based recommended occupational exposure limit. The Hague: Health Council of the Netherlands, 2010; publication no. 2010/04OSH Environmental Agency, EA (2010) Waste Sector Plan: 3 year progress report 2006-2009. A joint report by the environmental services association and environment agency. London: HMSO Environmental Protection, (2010) The Air Quality Standards Regulation 2010 No 1001. London: HMSO Farmer, A 1997, Managing Environmental Pollution, Routledge Environmental Management Series, Routledge, London, UK. Health and Safety at Work, (2006) The Control of Noise at Work Regulations 2005. London: HMSO. How to cite Controlling Environmental Pollution in UK, Essay examples

Financial Portfolio Management

Questions: You have the 2 stocks A and B, and their returns along with SP/TSX return for the last 3 years Year Returns of A Returns of B Returns of SP/TSX 1 3% -2% 6% 2 11% -6% -1% 3 -1 7% 7% 1. Calculate the covariance and correlation between A and B. For this, use average (mean) return for the stocks. 2. If you are willing to invest 70% of your market money on A and 30% on B, calculate your expected return and risk of the portfolio. 3. Calculate the beta of stock A and B. Answer: (1). Average Return A = Average Return A = = 4.3333 Average Return B= Average Return B= = -0.3333 Covariance AB = = -74.66666667 Periods (n) = 3 Covariance = -74.66666667/3 = -24.8889 Since the covariance between stocks A nd B is negative, it is an indicator that the two moves in opposite directions. I.e. one of the stocks (A) is making a very high return, whereas the other (B) is making a too low return. Correlation coefficient = covariance AB/ standard deviation A*Standard deviation B Covariance AB = -24.8889 Standard deviation A = 6.11 Standard deviation B = 6.66 Correlation coefficient = -24.8889/ (6.11*6.66) = -24.8889/40.69 = -0.61 (2). Expected Return of a Portfolio E (Rp) = (Average return A * Proportion invested in A) + (Average return B * Proportion invested in B) E (Rp) = (4.3333 * 0.70) + (-0.3333 * 0.30) = 3.03 0.09999 = 2.93 The expected return of the portfolio lies between the lowest and the highest average return of each single stock. I.e. between -0.0333 and 4.3333 Risk of the portfolio is measured in terms of the variance of the portfolio Var RP = Where; a is the proportion of money invested in A, b is the proportion of money invested in B, is the variance of A, is the variance of B, and is the covariance of return A and B. Var RP = = 18.29 + 3.99 -10.45 = 11.83 The variance of the portfolio is way lower as compared to that of individual stocks The standard deviation of the portfolio = 3.44 The std of the portfolio is lower than that of individual stocks. (3). Beta = covariance (Ri, Rm) / Market Variance Covariance A, SP/TSX = -52/3 = -17.33 Beta A = -17.33/19 = -0.91 Covariance B, SP/TSX = 47/3 = 15.67 Beta B = 15.67/19 = 0.82. Bibliography Cherewyk, P. (2011). Calculating Covariance for Stocks | Investopedia. Khan, M. and Jain, P. (2007). Financial management. New Delhi: Tata McGraw-Hill. McNulty, D. (2008). Calculating Beta: Portfolio Math For The Average Investor | Investopedia. Nickolas, S. (2015). What is the formula for calculating beta? | Investopedia. Whittington, R. and Delaney, P. (2008). Wiley CPA exam review 2008. New York: John Wiley Sons.

The Efficient Sustainability of Globalization

Dilemmas Of The Individual In Public Services Social Work Essay Example

Dilemmas Of The Individual In Public Services Social Work Essay Example Dilemmas Of The Individual In Public Services Social Work Essay Dilemmas Of The Individual In Public Services Social Work Essay Essay Topic: Emma Introduction This book is intended to give the reader an overall apprehension of what Lipsky calls street-level bureaucratisms and administrative officials through an insightful analysis of front line pattern in public administrations. It is an effort at developing a theory of street-level bureaucratisms by analyzing the professional behavior and daily patterns of the administrative officials who operate within a model of supplying public services to the population. Lipsky defines street-level administrative officials as public service workers who interact straight with citizens in the class of their occupations, and who have significant discretion in the executing of their work ( 1980:3 ) . Some illustrations include instructors, constabulary officers and other jurisprudence enforcement forces, societal workers, Judgess, public attorneies and other tribunal officers, wellness workers ( 1980:3 ) . While he defined street-level bureaucratisms defined as public service bureaus that employ a im portant figure of street-level administrative officials in proportion to their work force ( 1980:3 ) . Lipsky argues that it is non through the authorities acts or Torahs that policy is best understood but through the crowded offices and day-to-day experiences of the administrative official. It is these administrative officials who through the proviso of public services implement a big sum of influence over how public policy is really carried out. Initially drawn to public service for selfless grounds, the worker is easy corrupted, overworked, and exhausted by assorted force per unit areas including battle with deficient resources and obscure policy ends ( Lipsky 1980: thirteen ) . Therefore, in order to cover efficaciously with these force per unit areas, the administrative official with comparative liberty from organizational authorization and high degrees of discretion exercises a figure of determinations, modus operandis, and get bying mechanisms which efficaciously become the public policies they carry out. The purpose of the book being to demo the broad disagreement between wh at authorities policies claim to make and what really happens when policy is implemented. Drumhead The book is divided into four subdivisions each covering with a specific portion of the complex features of street degree bureaucratisms. Section one provides an introductory overview of the subject to give an apprehension of the nature of bureaucratisms, it besides examines the function of the administrative official in the devising and execution of policies. Section two examines the common work conditions of the bureaucratism with specific attending given to the resources, ends, and public presentation steps instigated, the purportedly supportive relationship between the client and the administrative official, and the work induced disaffection. Section three explores the forms of pattern or get bying mechanisms developed by the administrative official in order to cover with the work conditions and high degrees of clients, including rationing and curtailing clients, routinisation, and the control exercised in client processing. Section four focal points on the hereafter of street-le vel bureaucratisms, and proposes new agencies of cut downing client tensenesss and doing administrative officials more accountable. The first chapter points out the grounds why street-level bureaucratisms are so important, which include the Numberss employed, the monies to fund and pay forces, and the impact on persons lives particularly those of lower incomes. Its chief focal point is on the critical function played, and struggle experienced daily by administrative officials due to their placement as go-betweens ; between clients who hope for effectual intervention by the authorities through the services provided, and the public assistance province who hopes for economical proviso of public services. It posits that administrative officials in their place as service suppliers have a immense duty as their actions straight impact on clients lives. Using their powers of discretion to make up ones mind how to present the service, who should profit, and to what extent, they enact a signifier of societal control by necessitating certain behaviors and actions by the client. Therefore straight impacting on a client s lif e opportunities by either giving or taking off of benefits and using penalties or negative countenances for non-conformity. The purpose of the 2nd chapter is to exemplify how as a effect of their interactions with clients, enabled by their usage of discretion in determination devising, and their comparative liberty from the organizational authorization, it is the administrative officials who on a regular basis make policy. It is posited that even though there are regulations, ordinances, and norms to be followed, if a successful service is to be provided that is both cost effectual and timely discretion must be applied. Discretion is a described as a cardinal feature of the administrative official s place, necessary due to the really nature of the work i.e. the human dimension which frequently renders a really complex state of affairs necessitating flexibleness and consideration of all the grounds before doing a determination. The relationship between the lower degree administrative official and managerial governments of the administration being both dependent and conflicting is besides highlighted as inf luential in the behavior of administrative officials and determination devising procedure. Lipsky posits that because of differing involvements, deficiency of understanding on ends and aims, and contradictory positions on acceptable degrees of discretion and autonomy struggle arises. This struggle consequences in opposition from the administrative official to direction through avenues such as the organizational processs non being followed and new processs being developed by the administrative official therefore doing new policies ( 1980:19 ) . Section two focal points on the work environment which gives rise to commonalties found among street-level bureaucratisms which conditions the manner they perceive jobs and frame solutions to them, therefore giving rise to common forms of pattern that impact the administrative officials ability to take action ( 198:27 ) . In chapter three Lipsky highlights the issue of unequal resources, saying that street-level bureaucratisms will ever be inveterate missing in countries such as clip, information, and experience. Added to this the of all time increasing caseloads and demand for services which will ever transcend supply, the inevitable tensenesss between the client, administrative official, and director will doubtless hold a negative impact on both the clients and administrative officials experience. In chapter four he observes how in order for the administration to work efficaciously and expeditiously it needs to put down ends and aims which are frequently, at best, ill-defined a nd equivocal, and struggle with the administrative officials ain ends. This deficiency of congruity on ends makes it hard if non impossible for the director to garner public presentation measurings, and consequences in answerability besides being elusive. In chapter five, Lipsky describes the kineticss of the bureaucrat-client relationship as being common to street-level bureaucratisms. The administrative official exerts control over the non-voluntary client who must entree services either because they are non available elsewhere or they are on a low income, and therefore must follow with outlooks and determinations made in order to have benefits or avoid countenances ( 1980:60 ) . Finally in chapter 6, the issues of disaffection and the at odds function of protagonism are explored. Bureaucrats are expected to work for the client, have their best involvement at bosom, and guarantee the best intervention, but this conflicts with the outlooks of the bureaucratism. Bureaucrats being ex pected to work within a remit of maintaining control of resources and avoiding particular intervention are therefore, yet once more, put under great emphasis. Alienation, harmonizing to Lipsky, occurs because the administrative official merely works on parts of the merchandise, has no relationship to the result of their work or the natural stuffs, ensuing in the worker being alienated from their occupation. Section three examines whether the commonalties listed supra lead to common behavior apparent in street-level bureaucratisms. First, the commonalties listed above all contribute to the administrative official who joined the public service for selfless grounds going unmotivated, and dissatisfied with their place, and therefore negatively impacting on the services provided to the client. Lipsky states that forms of pattern or get bying mechanisms are developed by the administrative officials in different businesss in order to cover with the work conditions described in subdivisions one and two and the overloading of clients. He posits that in order to carry through their undertakings administrative officials ab initio set up modus operandis to simplify the complex occupations, but because these are capable to personal and political biass they straight impact what the modus operandi is seeking to accomplish and add up to contemplations of the administration and therefore direct policies ( 1980:86 ) . He highlights a figure of ways in which they ration and curtail services including ; waiting in lines, inordinate paperwork, pigeonholing likely wrongdoers, practising favoritism and symbolic entreaty processs ( 1980:81-82 ) . Bureaucrats besides retaliate against the emphasiss and strains imposed on them by direction by modify their ain behaviors to accomplish their personal ends, specializing or restricting and even spread outing duty to acquire things done harmonizing to how they think they should be ( 1980:142-150 ) . Section four concludes with a expression to the hereafter of street-level bureaucratisms, discoursing the impact of the 1980 s financial crisis in regard to answerability and potency for reform. Lipsky argues that it is virtually impossible to keep administrative officials accountable where the nature of the work employs high degrees of liberty and discretion ( 1980:159 ) . He believes that the force per unit areas of the financial crisis to cut down fiscal outgos while understating impact cuts will merely function to increase unequal resources and lessening service quality. He concludes by suggesting two ways of cut downing client tensenesss and doing administrative officials more accountable ; by including clients in bureau determination devising, and pins his hopes on new professionals who will perpetrate to seeking to accomplish greater societal and economic justness and shun personal position sweetening ( 1980:204 ) . Review Michael Lipsky is surely more than qualified to compose about street-level bureaucratisms, holding graduated from Oberlin College and received an MPA and a PhD in Politics from Princeton University. He has taught in the countries of public policy, American political relations, and societal motions since 1975, and has written, edited, and contributed to many books and diaries. He is presently a Research Professor at Georgetown University s Public Policy Institute and a Senior Program Director at Demos, a public policy and protagonism administration based in New York ( Georgetown University 2012 ) . Sing his educational background it is rather delighting to happen the book is easy to read and follow. It uses an informal, enlightening tone and non excessively many big indecipherable words which means it is suited for all to read ; bookmans, pupils, and the wider public. It provides a comprehensive analysis of street-level bureaucratisms and administrative officials which has an copiousn ess of real life illustrations which assist the reader in understanding Lispky s hypotheses. Lipsky developed his theory following a book reappraisal he wrote and a subsequent paper Toward a Theory of Street-Level Bureaucracy which laid out his initial ideas and guesss on the importance of work construction in set uping the relationship between citizens and these public employees ( 1980: seventeen ) . His uses a qualitative experimental attack to his survey and did non execute any methodical empirical research but alternatively used a figure of empirical illustrations and secondary literature to show his statement. However, he besides uses rather a figure of mentions to common sense analogies which win in bolstering his statement. His theory, it must be noted, is strong in placing and explicating the issues environing policy execution and could therefore be described as descriptive theoretical account ; a theoretical account to depict how they do run, to simplify the survey of how they make determinations ( Hogwood and Gunn, 1984, as cited in Cairney 2012:32 ) . Execution can be described as the executing of a program for making something ; it can mention to the bringing of a programme or to an array of activities initiated by the authorities to accomplish ends and aims set frontward in a policy. Policy execution is portion of the policy rhythm which by and large involves policy design followed by policy bringing and so policy reappraisal. It is concerned with set uping or using an administration to take duty for execution, guaranting that the administration has the resources to make so, and doing certain that policy determinations are carried out as planned ( Cariney 2012:33 ) . The survey of execution is centred on the hypothesis that determinations made by policymakers may non be carried out suitably ( 2012:34 ) . Lipsky can be understood as working from a bottom-up attack to policy execution, a direct challenge to the top-down attack which believes that cardinal authorities is the chief influence on policy results. He sees policy as being created in a complex field of tensenesss and demands by the single actions of the implementers, in this instance street-level administrative officials who have a critical function in implementing policy. Lipsky s thesis is based on the impression that policy is in fact what bureaucrats do, utilizing discretion in both positive and negative ways to voyage the complex and multi-faceted country of human services. For Lipsky, discretion occurs in a context of struggle between front-line workers and directors ; between a desire to top-down control and resistance to it. His work gives great lucidity to the motivations behind the actions of street-level administrative officials, every bit good as indicating to the policy and resource morass which lends itself to the burnt-out attitude frequently presented by front-line staff. Research by Wandersman et Al ( 2008 ) identified a figure of factors which influence execution in pattern which corroborate Lipsky s theory that front line administrative officials have an of import function to play in the policy execution process. They identified a figure of including single features, such as practictioners education, experience, and attitude toward the invention, every bit good as organizational and community factors. A study from the Mental Health Commission ( 2009 ) besides supports Lipskys theories saying that effectual execution is synonymous with co-ordinated alteration at system, administration programme and pattern degrees . Evans ( 2011:3 ) has besides shown that Lipsky s ideal of street-level bureaucratisms are comparable to modern-day societal services in that they are administrations controlled by directors where there is concern for what is produced non the procedure. Even though this book is based on American experiences it can still be applied to the Irish experience and I believe is relevant to the Irish Welfare State and its policy execution schemes. For illustration, Community Welfare Officers can be understood as street-level administrative officials who use discretion in their work to make up ones mind who shall have benefits and when, impose countenances. They use commanding mechanisms such as inordinate signifier filling, and long waiting lines to enable them to routinize their processs and implement the policies of the public assistance system. Probation Officers who work under the remit of the Criminal Justice Department can besides be understood as street-level administrative officials who operate with great discretion in their daily operation, and have to set and make their ain policies to enable them to run expeditiously. Other authors have besides found that Lipsky s work can be applied to states with much differing public assistanc e provinces such as Winter ( 1981 ) whose qualitative instance surveies in Denmark identified extended header mechanisms amongst street-level administrative officials. The overall purpose of this book has been to demo the broad disagreement between what authorities policies claim to make and what really happens when that policy is implemented. It has portrayed the life of a street-level administrative official as being invariably under duress from both sides of the system and shown how choler and bitterness evolve to develop into get bying mechanisms to cover with clients and the confines of work conditions. I believe Lipsky has been most successful in this enterprise and produced a all-around, nonsubjective survey of the procedure of policy execution as evidenced in street-level bureaucratisms.

Literature Review and Resource File Essay Example | Topics and Well Written Essays - 750 words

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Lesson 5 - Course work - Assignment Example mber was considered the beginning of winter), the souls and ghosts of the dead visit the Earth, and therefore, on Halloween people preferred not to stay alone, made fire and were on their guard in order to make sure the evil spirits could not have them over the barrel. So that is where modern carnival comes from: in order to protect oneself from the evil spirits, one has to dress up and pose as these spirits. The Church, normally respected by the Americans, considers that when imitating evil spirits, people take over demonic disposition and destroy their appearance that was given to them by God. Such behavior contradicts Christian foundations; however the Americans never cease being true believers. Also there are usually acts of â€Å"petty vandalism† which the Church also does not approve of – children break glasses, burn trees, etc. Though in the 1920s the scouts called to introduce the practice of â€Å"trick or treat† instead, sometimes people still like to commit something they would not usually do in their normal life. Respectable businessmen are likely to turn over garbage bins, stewardesses (mainly on domestic flights) dress up like a witches or fairies, teachers have no less fun than their students. It is really an unusual tradition – to wear a mask and play a role quite opposite to what one is in the society. Both children and grown-ups enjoy themselves and have fun meeting November in the costumes of witches and vampires, throwing eggs, taking part in the â€Å"best costume† competitions, and eating pumpkin dishes. It reveals the Americans being in need of throwing away from time to time their â€Å"normal† social roles and taking up something quite uncommon. Americans particularly care about their children and are usually good parents. The paradox is, though some scientists think it can traumatize the child’s mind, demoralize the children and even demonize them, American people treat Halloween as a means to please their kids. Also, more and more

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Marketing product - Essay Example The essay shall explore the various ways that S&H Distribution Ltd (shoes & heels) can employ to maximize its profits and gain a bigger market share. According to the UK Chartered Institution, Marketing is the management process, which identifies, anticipates and supplies customers’ requirements efficiently and effectively (Blick, 2010, 20). International marketing is the mix of these activities in the national boundaries. Firms branching into new markets should have marketing decisions. Notably, managers should consider four elements including how to identify, price, sell and distribute those products (Joshi, 2012, 41). These essential elements of international marketing are called marketing mix or the 4Ps. They include product, price, promotion, and place. Firstly, the product comprises the tangible and intangible features that meet consumers demand in diverse markets. Secondly, pricing develop policies that in revenue and strategically shape the competitive environment. Thirdly, promotion means devise ways to strength the desirability of the product or service to potential buyers. Fourthly, place is getting products and services into customers hands via transportation and merchandising. Marketing has evolved significantly over the years. What was once a simple concept to determine, explain and execute has now become an essential tool for any organization that wishes to become successful. Initially, there were the 4Ps, which included price, place, promotion and product. However, as the evolution of marketing continuous, several aspects have been incorporated into the marketing mix (Rama Moahana Rao, 2011, 162). They include physical evidence, processes, and processes. These extended elements represent the ever-changing factors that determine the marketing products. The changes in customer behavior and demographics also contribute to the addition of the 4Ps (Hougaard & Bjerre, 28). It is quite difficult to measure

Attitudes and behavior

Attitudes and behavior ABSTRACT The paper focuses on attitudes and behavior on the concept of the youths buying behavior towards branded sports shoes, different consumers have got different decision making process. The buyers ultimate goal is to buy the product of qualitative, quantitative with low/best affordable price. In order to identify different kinds of consumers behavior towards buying of different branded shoes and Nike sports shoe. I have carried out buying behavior of youth and different kind of consumer behavior models, literature and theory of consumer behavior; finally, I analyzed and concluded with research based on questionnaire of Nike shoes and case studies of Nike sports shoes at Halmstad University. 1. INTRODUCTION BACKGROUND Introduction: Why studying youth buying behaviour? Youth is perhaps the most difficult demographic group to communicate with. Not only they have a short attention span, they are also elusive in media consumption, fickle in brand preference, and simply challenging to engage and entertain. Marketers spend millions in marketing research every year trying to predict, or anticipate, changing youth behaviours. With the continually proliferating choices of sports shoe, not only does this group embrace technology at an early age, it quickly becomes the early adopters of all new trends and convergent platforms. One can argue that whatever youth does today foreshadows what older demographic groups will adopt in the near future. All this makes it extremely difficult to understand and target their behaviours. Background Consumer has been elated with the kind of reception; they are getting from various companies these days. The reason behind a drastic change in consumer behavior is because the consumer is no more treated as a hire purchaser but, he is treated as the decider of the companys fortune. Companies or marketers cannot hire any fortuneteller to guess the consumers attitude. Guessing or measuring the consumers attitude is not a cake walk but this is because predicting consumers attitude is as tough as predicting consumers mind (Bheri, 2004). Consumers are continuously choosing among the various products though they are not aware of the products and usage, even though they are intentionally purchasing the various new brands without any knowledge about the new products, furthermore if new company enters into the market, for every consumer it is very difficult to understand the features of the news products and this makes confusion among the consumers to obtain the information. For example: If one local company enters into the market then to gain the knowledge about the features of the new product, it will take long time for the consumers to understand (Nelson, 1970). The term consumer can be described as a person who acquires goods and services for self satisfaction and his often used to describe two different kinds of consuming entities: the personal consumers and organizational consumers. The personal consumers buy goods and services for his/her own use. In this context, the goods are bought for final use by individual, who are organizational consumers, they encompasses for profit and not for profit business, government agencies, institutions, all of them must buy products, equipment and services in order to run their organization (Hawkins, Best and Coney 1998). The consumer will respond according to the product quality and reliability, the fundamental understanding of products is necessary to understand the product features, products reliability and product benefits (Baker, 2004). The consumer is the end user for the product; consumers buy the products in market; in order to perform successful sales operations in the market an effective distribution channel and networks are required for the organizations. Distribution channels and networks play an important role in the consumer goods industry. Consumer is the ultimate user of every product, without any consumer there is no market as such (Baker, 2004). Every region wise the different consumers are using different kind of products. Every consumer has their own tastes and preferences. So, every consumers opinions and preferences are different from one another. The local marketers have good idea about, what the local consumers are using (region wise). For example: The south Indian food habits and tastes and preferences are different, when compared to north Indian food habits (Thomas, 2004). Based on above paragraph, direct marketing activities have big impact on every consumer, because through direct marketing every company knows about the behavior of every consumer in the market. Manufacturing companies, retailer and suppliers do not have an idea about the consumer behavior in the local market. So, author suggested that direct marketing activities should be left to the local market leaders, because the local market leaders have best idea of local market and local consumer behavior. This theory helps for the organization and sub-organizations to know the consumer behavior in different market environments, taste and preferences of the consumer behavior (Thomas, 2004). McDonalds would not have made a big impact in the Indian market had it persisted with its U.S. product line that included beef products, moreover, McDonalds repositioned the brand as family-oriented and children-friendly, catering the traditional Indian middle- class segment that finds pride in its family culture and is especially conscious of childcare. So in this point of view Mc Donalds have approached differently, because they identified that, which they followed earlier that will not get good impact on their business so, they immediately changed the business line to achieve the targets, thus, this is one kind of business strategy to achieve the set goals in huge populated countries (Dash, 2005). For perspective of globalization we can not change the system of tastes and preferences of Consumers. Another instance demonstrating the ignorance of local tastes in the wake of globalization features the multinational mobile phone makers, Nokia had tasted success with its soap-bar designed phones and ceased producing the flip phones that consumers found irritating to use (Zaccai, 2005). The Chinese business people are giving importance to Chinese traditional, patriotic values; the business people are running their businesses by showing their traditional, patriotic advertisement and promotional campaigns to get the business from the Chinese people. The Chinese consumers perspective, by assessing their preferences amongst a host of advertisements and promotional campaigns, later on the business people are started the global Advertisement campaigns with status and social appeal, they sought immense pride in clinging to the traditional, cultural and patriotic values through the local campaigns, with this theory helps by knowing the Chinese consumer behavior and also they are giving same importance to traditional and patriotic values in the name of advertisements. Finally, they want the advertisements with traditional and patriotic values of Chinese culture (Zhou and Belk, 2004). The consumers mind is different from one another in this as author said in the definition that according to the human psychology, demographical differences, age sex and to understand people needs. (Kotler, 2004), to assess the influences of every consumer approach is different, in theory explained that consumer is treated as decider of the company, what ever the product comes to the market, the consumer is the ultimate purchaser for every product, some times the consumers are choosing, selecting and going for family decision making to choose differently, in one point of time the consumers differentiated and explained that they are going for personal and some of the them are using products for profit. Demographical differences make new food habits for every consumer. The choice of variation for every consumer (Kotler, 2004). The example of above paragraph, two countries, therefore Chinese consumers are giving respect to traditional and patriotic values, where as Indian consumers are more religious when they are using the products. These are influences that make the consumer to purchase different products; mostly those influences are more related to the physiological, demographical, social, cultural, economic, family and business influences. According to Kotler (1994), consumer behavior is the study of how people buy, what they buy, when they buy and why they buy. It is a subcategory of marketing that blends elements from psychology, sociology, socio psychology, anthropology and economics. It attempts to understand the buyer decision making process, both individually and in groups. It studies characteristics of individual consumers such as demographics, psychographics, and behavioral variables in an attempt to understand people needs. It also tries to assess influences on the consumer from group such as family friends, reference groups, and society in general (Kotler, 1994) for example while consumers purchase the shoe, then they go for family decision, comfort, satisfaction, price and quality. Every family member doesnt have the same opinion to buy the same product; different family members have different choice to buy the product. So, in one family consumer behavior is different (Kotler, 1994). 2. PURPOSE OF THE STUDY The purpose of this dissertation is to contribute to a better knowledge of consumer buying behavior towards purchasing the sports shoes. The aim of the thesis is to find out the factors influencing the youth in purchasing sports shoes. The purpose of the study could be expressed by the following research question. Assessment factors, which influence the youth to buy sports shoes? 3. LITERATURE REVIEW The Definition: Consumer-buying behavior according to Kotler (2004, p.601) is defined as The buying behavior consumers individuals and house holds who buy goods and services for personal consumption. the term consumer can be described as a person who acquires goods and services for self satisfaction is often used to describe two different kinds of consuming entities: the personal consumers and the organizational consumers. The personal consumers buy goods and services for his/her own use. In this context the goods are bought for final use by individual, who are organizational consumers, encompasses for profit and not for profit business, government agencies, institutions, all of them must buy products, equipment and services in order to run their organization (Kotler, 2004). Peter and Olson, (1993) mention that interactions between the peoples emotions, moods, affection and specific feelings is called consumer behavior, in other words in environmental events which they exchange ideas and benefits each is called consumer behavior . Buying behavior of people, who purchase products for personal use and not for business purposes (Peter and Olson, 1993). The Physical actions of consumers that can directly observe and measured by others, by influencing behavior profit can be earned (kotler, Armstrong and Cunningham, 1989). The study of consumer behavior has evolved in early emphasis on rational choice (microeconomics and classical decision theory) to focus on apparently irrational buying needs (some motivation research) and the use of logical flow models of bounded rationality (Howard and Sheth 1989). The latter approach has depended into what is often called the information processing model (Bettman 1979). The information processing model regards the consumer as a logical thinker who solves problem to make purchasing decision (Holbrook and Hirschman 1980). Compares the four major approaches to create successful inter-organizational relationships and integrates them into a single prescription for managing important inter firm relationships (Palmatier, Dant and Grewal, 2007). Service fails, in satisfying the customers and developing customer loyalty over time in business to business markets. Cyert (1956) may have been the first to observe that a number of managers in addition to the purchasing agents are involved in buying process, and the concept was labeled buying behavior and popularized by Robinson (Faris and Win 1967). Webster and Wind (1972) famously identified five buying roles, they are: 1. users 2. Influencer 3.buyer 4. decider and 5 Gatekeeper (Webster and wind, 1972). Further categories have been suggested as the initiator (Bonoma, 1981), and the analyst and spectator by Wilson (Wilson, 1998). The product purchase decision is not always done by the user. The buyer necessarily purchases the product. Marketers must decide at whom to direct their promotional efforts, the buyer or the user. They must identify the person who is most likely to influence the decision. If the marketers understand consumer behavior, they are able to predict how consumers are likely to react to various informational and environmental cues, and are able to shape their marketing strategies accordingly (kotler, 1994). The consumer behavior influences are follows: The consumer behavior influences in 3 aspects, they are acquiring, using and disposing. The acquiring means that how the consumer spends money on the products, such as leasing, trading and borrowing. Using means some of the consumers use the high price products and some of the consumer sees the quality. Disposing is nothing but distribution, order or places a particular product (Hoyer, Deborah, 2001). By understanding consumer behavior deeply, different authors have given different information about the consumer behavior, how consumer buys the products, it involves four steps they are: need recognition, information search, evaluation of alternatives, purchase decision and post purchase behavior, the marketer can pick up many clues as and how to meet the buyer need and develop an effective program to support an attractive offer to the target market (Kanuk, 1990). According to Kotler (1994), the Consumers buying decision process is influenced by four steps those are as follows: Types of consumer buying decision behavior: Consumer buying behavior decision-making varies with the type buying decision. There are different types of buying behavior decisions. Complex buying behavior: Consumers undertake complex buying behavior when they are highly involved in purchase and complex buying behavior and perceive significant difference among the brands. Consumers may be highly involved when the product are expensive, risky, purchased in frequently and are highly expensive (Kotler, 1994). Dissonance Reducing buying behavior occurs when consumers are highly involved with an expensive, infrequent or risky purchase, but sees little difference among various brands (Kotler, 1994). Variety Consumers undertake variety seeking buying behavior in situations characterized by low consumer involvement, but significant perceived brand difference. In such cases, consumers often do a lot brand scrutiny (Kotler, 1994). 4. THE BUYING DECISION PROCESS Introduction of buying decision process Consumers make many buying decisions every day. Mostly large companies do extensive research on consumer buying decision, to answer questions like what does consumer buy, where they buy, how they buy, how much they buy, when they buy and why do they buy a product, for this question to reorganize the decision different stages needed they are, information search, and evaluation of alternatives, purchase decision and post purchase decision etc., The consumer passes through all five stages with every purchase, but in more routine purchases, consumers often skip or reverse some of these stages (Hawkins, Coney, 1998). The buying decision process The buying process starts with need recognition, where as buyer recognize the need. The buyers decision is depending on his/her internal external stimuli of consumer behavior. The internal and external stimuli of consumer behavior means that the consumer, which product should purchase, how much wants to purchase and externally which products are more reliable and usable. According to this internal and external stimulis the buyer will take the decision (Hawkins, Coney, 1998). The consumers are searching the information from the various sources those are information search, personal source, commercial sources, public sources and experimental sources; this is also process of the buying decision process before purchase of the product (Hawkins, Coney, 1998). Information search: The consumer can obtain information from any of several sources, which includes: Personal source: family, friends, neighbors, acquaintance etc. Commercial sources: advertising, sales people, dealers, packaging, displays. Public sources: mass media, consumer-rating organizations etc. Experimental sources: handling, examining, using of the product. Consumers receive most of the information about a product from commercial sources, which are controlled by the marketer. The most effective source however tend to be personal. Personal sources appear to be even more important in influencing the purchase. Evaluation of Alternatives: The consumer evaluates all the alternatives available to him/her to arrive at a brand choice. The consumer will see the product as a bundle of attributes with varying capacities, which satisfies his or her needs. The consumer will pay more attention to those attributes connected with their needs. The consumer is likely to develop a set of brand beliefs about, where each brand stands on each attribute. These of beliefs held about the particular brand is known as brand image, according to the beliefs and preferences of the consumer, evaluates the alternative products instead of using existing products (Kotler, 2004). Purchase decision: In the evaluation stage, the consumer ranks all the brands and makes a purchase intention. Generally the consumer purchase decision is to buy the most preferred brand, when purchasing a products, consumer will think about two things, which can be, purchase decision and purchase intention. The attitude of others and unexpected situation factors both directly or indirectly effects the consumers final decision to buy a particular brand. (Kotler, 2004). Post purchase behavior: The buyers job does not end when the product is brought. After purchasing the product, the consumer will be satisfied or dissatisfied and will be engaged in post purchase behavior. The satisfaction or dissatisfaction of the purchase of a particular product depends on the relationship between the consumer expectation and the consumer disappointment, if it meets the consumer expectations, the consumer can get satisfied. And if it exceeds he/she is delighted (Gilly and Gelb, 1986). 5. THEORETICAL FRAME WORK Consumer Involvement Theory The consumer involvement theory means that, how the consumer involving the purchase of various products in the market, after purchasing the product, how the consumer responding towards the products called consumer involvement theory. The consumers get the information through advertising, for that they purchase, use, and react that they see and hear about the products that they buy (Barry, 1987). Level of involvement an individuals intensity of interest in a product and the importance of the product for that person, those are enduring involvement and situational involvement (Homewood IL Irwin, 1987). Routinized response behavior is that the process used when buying frequently purchased low-cost items that requires little search- and decision-effort (Homewood IL Irwin, 1987). The consumer involved in purchasing of products and usage and, also, various aspects like high involvement and low involvement in process of purchasing of products. The consumer some times involves high and low in purchasing products, so, theory of involvement is explaining that the consumer recognizes the importance of the purchase and it considers that the degree of perceived risk, moreover, it reflects on self image perhaps information processing may be different from one another (Ray, 1973). The low involvement theory is explaining that the consumer would accept wide range of products with positive attitude with do-feel-learn strategy, firstly the consumer select any kind of product, use the product, if they are not sure about how to use the product, and they learn how to use the product. To purchase a new computer in market and using of the computer, if they are not satisfied then they go for learning of how to use the computer. The low involvement of consumer will be in manner that do-feel-learn strategy (Ray, 1973). In one of the consumer article author explained about the consumers, are influenced by television commercials and their relationship effectiveness of advertisements (Krugman 1987). High involvement theory is rational and emotional, and it is explaining about the consumers participations in the context very actively without any hesitation, moreover, they look after extensive problem solving. In this theory of involvement the consumers learn about the product, use the product, if they are feeling that the product is comfortable to use it, and then they go for buying the product, so this is called high involvement because after usage, they definitely buy the products. The high involvement theory is reversible order to low involvement theory like learn-feel-do strategy (Debruicker, 1979). How the involvement theory is useful, the emotions, specific feelings, learning of every product and involves when they want to use it and when they want to purchase it. So, this theory helps when the consumer purchasing any kind of product or after using the product. 6. CONSUMER BEHAVIOR MODELS Introduction Intergradations of three models There are three types of models, which will explain about consumers process of basic needs to selecting one particular product, In order to process consumer behavior the following three models are important, the first and foremost model is that the Hierarchy model of consumer behavior, in this model the author said that, without any basic needs the consumer can not survive, so, the consumer should have some basic needs, which have been explained below, secondly the consumer behavior model. In this model author mentioned about research and planning, in this process, the researchers are taking samples from consumer before manufacturing the new products in the market. Finally, lens model has been explained that in order to choice/select a product by the consumer. Most early psychologists studied people who had psychological problems, but Maslow Hierarchy needs tells us about the needs of consumer behavior. Hierarchy needs of consumer behavior model (Simons, Irwin and Drinnien, 1987) Maslow believes that people seek to fulfill five categories of needs. (Simons, Irwin and Drinnien, 1987) Maslows given the hierarchy needs for consumer behavior, before starting about the consumer behavior, the consumer needs are important; usually every consumer have some hierarchy needs, they are; self actualization needs, esteem needs, belonging needs, safety and security needs and psychological needs (Simons, Irwin and Drinnien, 1987). The self actualization needs: The term actualization means that the intrinsic growth of what is already in the organism, or more accurately, of what the organism is called self actualization needs. For example: one can play the music, he is called musician or artist, and one can paint the art is called painter, one can write the poems, is called poet. For surviving in competitive world one profession is important, this profession is not only for surviving, but also one kind of need for human being. In small words to understand simply one individual potentiality develop him by doing something; it is called the self actualization (Simons, Irwin and Drinnien, 1987). The author suggests that the self actualization need is important when the consumer wants to survive, consumer came with new professions, and it is one kind of need, it will help the consumer to survive in this competitive world (Simons, Irwin and Drinnien, 1987). Esteem needs: The term esteem means that need for things that reflect on self-esteem, personal worth, social recognition, and accomplishment, for example one can travel in the bus, motor bike, and car respectively, depends on his/her financial position they can travel. In this case travel is a need, so, in smaller words, if one can economically sound, then he/she arranges the esteemed need according to their financial possession (Simons, Irwin and Drinnien, 1987). The author said that, if she/he needs the esteem needs, then they should have good economic possession, if not no necessary to maintain the car or motor bike, it is very easy to use the public bus or walk (Simons, Irwin and Drinnien, 1987). Social needs: The social needs includes love of family or friends, for example, the boy loves his girl friend, the relationship between husband and wife, one child belongs to one family This is called belongingness or love (Simons, Irwin and Drinnien, 1987). This is one kind of need for every consumer, because every consumer has their personal belongingness and love. Safety needs: The safety might include living in an area away from threats. This level is more likely to be found in children as they have a greater need to feel safe. For example one wants to live safe and secure life in the society. Finally, always consumer wants to live a life, which is safe and secured (Simons, Irwin and Drinnien, 1987). Physiological needs: It includes the very basic need air, warmth, food, sleep, stimulation and activity. People can die due to lack of biological needs and equilibrium common needs like food, water, oxygen and other common minimum needs are wanted for every one to survive in the world. This is also a basic need of consumer (Simons, Irwin and Drinnien, 1987) Consumer behavior model The concept of consumer behavior model is that, all the consumer minds are not the same, because every consumer thinks in different manner and purchasing of products also different. The below figure is saying about the research and planning, now a days the products are many, the consumer is attracting towards new products and its features. The manufacturing companies are designing the products, before manufacturing of new products the researchers are taking the samples for research from the consumers, after taking the samples from the consumers, researchers are doing the research about the products, it encourages companies to constantly innovate better ways to serve the consumer needs (Yeowzah, 2003). The research planning depending on product design, insights and action. As author saying about the design, if products designs are good then every consumer attracted towards purchasing of new products, the product design is possible only by doing research. The insights is nothing but the product features, the product features are depend upon good research and planning, without any research and planning there is no product as such. In between these two aspects the action takes place to do good research and to get good results in the market (Yeowzah, 2003). 2. Consumer behavior model (Yeowzah, 2003) http://www.yeowzah.com/consumer_behavior_model.htm The significance of consumer behavior decision theory in some cases consumer has clear and strong choice or preference for particular product to purchase. According to the customer preference, companies can increase their sales to develop the 4 Ps marketing to affect the customer preference and test. Company can design the product to attract the customer to make the better sales. To analyze the competitor activity and make the most battle plan to fight in to the market (Hauser, 1993). Lens Model Product Features Perceptions Preferences Psycho-social cues Availability, Price Choice Lens model (Hauser, 1993) Description: The above lens model says that, the product features and perceptions are inter dependent, because the consumer see the product features before purchasing any product in the market, the product features arrow showing towards perception, the perception is nothing but understanding of the product, in this process consumer will understand about the product, after understanding the product, the perceptions is going to be preference of various products (Hauser, 1993). In this process of preference product, the consumer prefers the products, after preferring the product, consumer select the particular product that is called choice. The final arrow showing towards choice, but this whole process depends on consumer psycho-social cues and availability price of the products in the market (Hauser, 1993). The second way is that the psycho-social cues and perceptions are also inter dependent with the help of these two terms the consumer prefers the product and finally choose/select the product (Hauser, 1993). The third way is that the consumer chooses the product with the help of psycho-social cues, which means psychological influences, understanding of the product and availability price of the products (Hauser, 1993). NIKES INTRODUCTION (NIKES CASE STUDIES) The company was established in 1968. Philip H. Knight is the chairman and CEO of the company. The first idea was given by Philip knight to manufacture the shoes, the idea behind this concept is that, when he was studying MBA in Stanford University in USA, he completed the course and he was trying to do the project in different marketing contexts, for this project, he went to Japan to do project in tiger shoes in Japan, it is one of the best shoes brands in Japan, at the same time he presented himself as an American representative and started manufacturing of shoes and he has given name for that company is blue ribbon sports company later on he has changed the name Nike. Later he started manufacturing shoes, apparel and equipments and he renamed his company name like Nike hope for the best to happen after some time he turned in to his coach Bill bower man in his school for what to do next in this industry. So, Bill bower man came up with new idea. In 1979 the Nike was the worlds top companies in the world. Nike mainly concentrated on athletics, the main competitors was Reebok and Adidas. Now Ni

Illegal Downloading is Stealing :: essays research papers

Illegal Downloading â€Å"is† Stealing   Ã‚  Ã‚  Ã‚  Ã‚  With the popularity of the Internet, sales for CDs, DVDs, Movies, and many other products have increased. Along with the increase of sales has brought forth an ever increasing problem of illegal media being downloaded. Programs such as Bittorent, Kazaa, and other direct-connect networking programs have allowed the transferring of such illegal media. Downloading song files from the Internet over a free peer to peer network is the moral equivalent of shoplifting music CDs from the local mall.   Ã‚  Ã‚  Ã‚  Ã‚  When you download any illegal media you are getting something for free that everyone else is required to pay a fee for. DVDs and CDs that cost others anywhere from 15 dollars to 60 dollars or more are being distributed for free as long as you have a download client. If you have programs such as Bittorent or Kazaa, you only have to find someone that already has the media on their computer, in which they either paid for the copies or they too downloaded the media illegally from someone else. On most of the â€Å"real† media (the cases), it states that you are not to distribute or copy the material because it is an illegal act, and you will be punished if caught.   Ã‚  Ã‚  Ã‚  Ã‚  Not only is downloading this media illegal, it is also morally wrong. It is our responsibility to know the difference between right and wrong - downloading this media is something that shouldn’t be done. The artists that create the CDs pay a lot of money to make the CDs for our pleasure, and in return they expect everyone to pay for their CDs (its how they make their money). In this respect, downloading illegal music through peer to peer networks is the equivalent to stealing a CD from an actual store.   Ã‚  Ã‚  Ã‚  Ã‚  By downloading any type of media for free that is normally paid for through a store, unless so stated, you are breaking the law. There have been many laws written that forbid the downloading of any copyrighted materials such as music CDs, Movies, and computer programs. If you are caught downloading any of these types of media, or found to have any on your computer, you can and will be fined or even jailed. The same consequences would be applied if you were caught stealing from a store. As suggests, there is no difference if you steal from a store, or steal it through your computer.

Germany was to blame for the outbreak of the First World War Essay

Germany was to blame for the outbreak of the First World War do you agree? I do not agree fully that the Germans were to blame for the outbreak of war. German intentions were not to start a war, however there are a few events where they unintentionally helped to escalate the situation. There is no doubt that they did help to escalate the situation between Serbia and Austro Hungary. In this essay I will be arguing that Germans did not cause the outbreak of the war. I will be doing this by discussing the blank cheque, the Schlieffen plan, the September programme, the actions of the Kaiser and the actions of Bethmann Hollweg. Many historians argue that because Germany pre-planed for war that when the chance of war arose they obviously provoked it. The evidence for this argument is the Schlieffen plan, it was a military strategy devised in 1882 as a means of coping with a two front war. Some people argue that the Schlieffen plan is the first traceable reason why the war started. However this is hardly true the Schlieffen plan was drawn up because of the increasing pressure Germany was under because of the triple Entente. Germany was after all geographically in bad position on one side they had France and on the other Russia, to make this situation worse France and Russia were allied. Therefore it is not surprising that a plan was created in case a war with the both countries was to occur. A war such as this would have to be fought on two fronts so to be able to fight a war like this on side would have to be disabled quickly. The German’s plans to get to Paris in 6 weeks is seen to be an aggressive tactic that is why some people see the Schlieffen plan as a plan to expand Germany if war was to break out. It is clear this is not the case, the Schlieffen plan was a defensive strategy designed to help Germany to come with a war on two fronts. The Schlieffen plan can hardly be seen as the Germans planning for war because other nations had simial plans such as Russia who had to stick to their plans so completely that hey had to declare war on Germany. An argument has been put forward that Germany declaring war on France is proof that the Schlieffen plan was a form of expansion for Germany and that that it was not a defensive plan. However this is hardly true, Germany declared war on France because Russia had declared war on them and Russia and France were allies. So to Germany I was natural that France would join the war because of the alliance system. Russia also did the same when the Tsar was told that he could not mobilise against Austria alone because the plans were for a war with Austria and Russia. The September programme drawn up by the chancellor of Germany, Bethmann Hollweg is seen as another piece of evidence suggesting that Germany had planned the war. The September programme was a document that set out Germany’s war aims, including a list of territorial acquisitions. This is seen to be incriminating because it was written so soon after war broke out. However Bethmann Hollweg was under a lot of pressure from military who needed to know their objectives. It should also be considered that the German army had been mobilised for a few months so plans for the army had to be drawn up. Some people argue that because the September programme was released so quickly that these objectives must have been premeditated. This is not completely true, it was important for the germens to think quickly what they were going to have to achieve in the war after all they were fighting on two fronts. Some of the objective might have been premeditated but these were probably defensive ones thought up long ago. It is clear to see that Bethmann Hollweg was caught between the Kaiser and Moltke. Bethmann Hollweg’s behaviour is often criticized during the July crisis. It is Bethmann Hollweg’s actions that are used as the argument against him. However what he did can be seen as a gamble that went horribly wrong. Bethmann was not consulted on the blank cheque but did back it. Some people argue that Bethmann wanted to manipulate Russia into mobilising against Germany so they didn’t look as if they started the war. This is untrue because instead Bethmann thought that he could keep the Balkan war localized. The evidence for this argument is that Bethmann thought that Russia would not help Serbia if a war happened because the Tsar would not lend his support to royal assassins. Bethmann also felt that Russia was not military or financially ready for a war. Germany’s mobilisation against Russia was only meant to deter Russia from war not to provoke them into war that is where Bethmann’s gamble failed. The blank cheque is seen as confirming Germany’s guilt in starting the First World War. The blank cheque is another example of a mistake made by Germany. The Kaiser gave unconditional support to Austria, this was done because Germany felt isolated by the triple entente and wanted to make it clear to Austria that their alliance was strong. However as professor Rohl argues the Kaiser was a very unstable man. There is a lot of evidence to support this argument such as when the Kaiser decided to change is mind about the blank cheque but then was convinced by his wife to â€Å"be a man†. The Kaiser was heavily influenced by others and there are many examples, such as the first Moroccan crisis where he was pushed by Bulow and Holstein into provoking the French. The blank cheque is greatly misunderstood the vague phasing used is open to interpretation. The historian Gerhard Ritter argues â€Å"that Germany sought to deter Russia from war, not to provoke conflict with her†. The blank cheque like the September programme is seen as evidence that Germany had wanted a war for some time but really they have both been misinterpreted. The real nation that was to blame for the outbreak of war was Austro-Hungary who even after finding no evidence that linked the assassins to any terror groups in Serbia and after Serbia agreed to their ultimatum still invaded their country. This is really the behaviour of a nation with war on their agenda. Austro-Hungary it can be said had to avenge the death of Franz Ferdinand. Russia too could have avoided war but much like the Kaiser the Tsar kept on changing his mind. In conclusion from the evidence above it can be seen that everyone muddled into war and that no one power is to blame. The September programme and the Schlieffen plan which are seen to highlight German guilt, do not and are actually defensive precautions not premeditated plans for war. Bethmann Hollweg and the Kaiser both were trying to achieve the same objective but were both communicating very well. The nations involved in the July crisis can be blamed for standing by their alliances instead of sorting out the situation. Germany did contribute to the mix up between nations in the Balkans and for inciting Austro-Hungary however they are not ultimately to blame for the outbreak of war.

The Pros and Cons of Online High School Programs

The Pros and Cons of Online High School Programs Should you consider earning your high school diploma online? Moving from a traditional high school to an online high school can be a big transition for any student, whether they are a teenager or a returning adult. Take a look at a few of the pros and cons before making your decision. The Benefits of Earning a High School Diploma Online Work at your own pace: With online high school courses, you can work at your own pace. You can take extra time when you need it to understand the material or speed through courses that are easy.Flexible schedule: You have greater flexibility in your schedule and can arrange your classes around work and other responsibilities. If you work part-time or full-time or have child care responsibilities, you can arrange your coursework accordingly.Avoiding social distractions: It’s easier to avoid the distractions (peers, parties, cliques) of regular school and focus on getting work done. If youve had trouble focusing on your studies instead of the social life at school, this is a benefit of taking courses online.Be yourself: Many students see taking courses online as a way to develop their own identity, apart from the social pressures of traditional schools.Avoid a negative environment: You won’t have to put up with the â€Å"bad influences,† cliques, gangs, or bullies found at a traditional high school. Specialization: You may be able to specialize in learning subjects that are interesting to you. The different options available online may be wider than those offered at your local high school.Get a diploma faster: Some students are able to earn their diploma early (a few even finish twice as fast as traditional students). The Disadvantages of Earning a High School Diploma Online Lack of social events: Most online programs don’t have the fun elements of traditional high schools such as prom, senior day, graduation, weird hair day, etc.No immediate teacher access: Some subjects (such as writing and math) may be hard to master without a teacher present. A student doesnt have immediate access to the instructor to get additional help and clarification of principles. It becomes easier to fall behind.Less motivation to complete work: Many people find it challenging to focus on completing work when there isn’t an actual teacher there to encourage them on a daily basis. They need human interaction to overcome procrastination.Social isolation: Some students become isolated or anti-social. While you may prefer to work solo online, you are missing out on the important lessons of learning to work with others. In a traditional school, they would have to step out of their comfort zone and learn how to interact with others.Non-accredited schools: If your onlin e school is not accredited, your transcripts probably won’t be accepted by businesses and universities. Cost: Unless you find an accredited charter school or use a free online program, you can expect to pay hundreds or thousands of dollars on tuition, the curriculum, and computer equipment.