Economics - 5415 Words

S.R. Luthra Institute of Management, Surat 2011-2013 A Comprehensive Project On SouthKorea Economy Submitted to Ms. Delnaz Kasturwala By INTRODUCTION: South Korea has a market economy which ranks 15th in the world by nominal GDP and 12th by purchasing power parity (PPP), identifying it as one of the G-20 major economies. It is ahigh-income developed country, with a developed market, and is a member of OECD. South Korea is one of the Asian Tigers, and is the only developed country so far to have been included in the group of Next Eleven countries. South Korea had one of the worlds fastest growing economies from the early 1960s to the late 1990s, and South Korea is still one of the fastest growing developed countries in the 2000s,†¦show more content†¦The result was an increase in inventories and severe cutbacks in production at a number of electronics, automobile, and textile manufacturers, as well as at the smaller firms that supplied the parts. Factory automation systems were introduced to reduce dependence on labor, to boost productivity with a much smaller work force, and to improve competitiveness. It was estimated tha t over two-thirds of South Koreas manufacturers spent over half of the funds available for facility investments on automation. Rapid growth from 1960s to 1980s South Koreas real gross domestic product expanded by an average of more than 8 percent per year, from US$2.7 billion in 1962[16] to US$230 billion in 1989,[17] breaking the trillion dollar mark in 2007. Nominal GDP per capita grew from $103.88 in 1962[18] to $5,438.24 in 1989,[19] reaching the $20,000 milestone in 2007. The manufacturing sector grew from 14.3 percent of the GNP in 1962 to 30.3 percent in 1987. Commodity trade volume rose from US$480 million in 1962 to a projected US$127.9 billion in 1990. The ratio of domestic savings to GNP grew from 3.3 percent in 1962 to 35.8 percent in 1989. The most significant factor in rapid industrialization was the adoption of an outward-looking strategy in the early 1960s. This strategy was particularly well suited to thatShow MoreRelatedEconomics And Economics On Economics Essay1142 Words   |  5 PagesWhen we talk about economics we must first defined the word. Economics is a social science that studies human behavior and how to allocate our limited (scares) resources, efficiently and effectively to meet our unlimited human wants. Now as we dive deeper in to the field of economics we realized that there are two separate categories that the study of economics breaks off into. The first is macroeconomics, macroeconomics is the study of the whole picture when it comes to economics. Macroeconomics willRead MoreEconomics : Economics And Micro Economics1238 Words   |  5 Pages Economics is the study of how our unlimited demand of certain things can be met by our limited amount of supply. For instance, if there was an unlim ited amount of money for everyone, then everyone would have everything they had always wanted and would not have to work to get the money. Everyone would have billion dollar homes and the nicest cars in the world. Unfortunately, we do have a limited amount of money, so the economists find ways to get around that. There are two types of economicsRead MoreEconomics : Economics Of Business1361 Words   |  6 PagesHND Accounting Economics FINAL REPORT: The Economics of Business DUE DATE: 20 May 2015 Catherine Macintosh 11006620 For the attention of Sarah Sutherland Word count: 1,243 (Excluding Acknowledgements, Abstract/Executive Summary, Terms of Reference, References Appendices TABLE OF CONTENTS Page 1.0 Costs 3 1.1 Total costs 3 1.2 Average costs Read MoreEconomics1291 Words   |  6 Pageshis profit. Do you agree? Use a graph to illustrate your answer. The argument is incorrect. As the graph shows, a reduction in marginal cost will cause a monopolist to reduce his price. 2. Economist Harvey Leibenstein argued that the loss of economic efficiency in industries that are not perfectly competitive has been understated. He argued that when competition is weak, firms are under less pressure to adopt the best techniques or to hold down their costs. He referred to this effect as x-inefficiencyRead MoreEconomics1444 Words   |  6 Pagesresource is inefficient it means the resources are not used in the best distribution by firms or organizations. An ETS is executed when the environment has been polluted and the government intervenes in order to control the pollution by providing economic encouragements towards the firms and organizations to reduce the amount of pollution emitted in the environment (Brown* 2001). When ETS is implemented it reduces the pollution of the environment caused by different firms thus making it its main goalRead MoreEconomics1654 Words   |  7 Pagesï » ¿1. What is the ‘economic problem’? The fundamental economic problem is related to the issue of scarcity. Scarcity means that resources are limited and short in supply in the world (e.g. diamond). Because of limited resources and unlimited demands, society needs to decide how much to produce and distribute these relatively scarce resources. The basic economic problem can be define as what to produce, how much to produce and for whom to produce. Some countries are lucky to have great naturalRead MoreEconomics999 Words   |  4 PagesManagerial Economics MIDTERM Exam What changes can you envision to the real economy, should Rifkin’s vision of a zero marginal cost society, become reality? For me, Jeremy Rifkin is a great social theorist. I’m mostly agreeing with him, with his conclusions and visions of the future economy. They looks like perfect and definitely it’s a â€Å"think big† way of delivering the information. His book â€Å"The Zero Marginal Cost Society† is must read, of course. Trigger is a zero marginal cost. I’m completelyRead MoreEconomics1000 Words   |  4 Pagesconsumer change, there will be a much greater change in the production output in the capital equipment required to make those consumer goods. This change in the production of capital equipment, that is , investment spending speeds up the rate of economic growth or slump Since we are focused on short-run business-cycle fluctuations here, it is reasonable to ignore changes in K/Y that may be associated with long-run advances in technology. 15 – 10 proportional to the level of output in t, Kt Read MoreEconomic Growth And Economic Development917 Words   |  4 PagesEconomic growth refers to an increase in the capacity for an economy to produce goods and services as compared from one period of time to another. It can be measured either in nominal terms which include inflation, or in real terms that are adjusted for inflation. It is mainly influenced by unemployment, inflation, technology levels, rate of investment, population growth rate, among other factors. These factors are used further to explain the differences in the varying level of output per capitaRead MoreEconomics1134 Words   |  5 PagesMF 7701 Managerial Economics Quiz #1 Fall 2014 Instructions: 1. You may work on this quiz alone or with as many other students as you wish. If you work with other students, please submit only one (common) answer. 2. You may not talk about this exam with anyone outside of the two managerial economics sections. 3. You may work with people from the other section if they are taking this course. In all cases, please submit only one, common answer. 4. You must e-mail your final

The Nuclear Family - 1156 Words

American families have changed tremendously over the past years. Families did not only face the change in their status or social behavior, but also faced a change in their lifestyle. Now there are different types of families with different types of norms and values. Families are socially, ethnically and very expressively diverse than ever before. Back in the time, the role family was totally different, the parents were more strict than today. It could be said that the nuclear family is the nucleus of a society that reproduces through this type of family. what is the meaning of the nuclear family?. Basically, the nuclear family has as main characteristic that it is a concept of family that is a role and perfect familiar group that conforms†¦show more content†¦33). In addition, today we can see so many families that does not fit in the traditional family. Now most of the families both parents work and take care about the kids and the households. It is common to see unmarried couples with two or three children. For example, my parents started a relationship when they were eighteen years old, after two years my mom got pregnant. My older brother born and three years later my parents got married. In that time was not very common to see families like mine, but my parents did not care about it. Nevertheless, some people still think that the nuclear family is the same that was in the 50’s, but the truth is that the time is changing and a lot of people are focusing more in the modern families. Back in the time, being a single parent was considered wrong. It was completely different and out of the typical and traditional nuclear family. But now single parenthood is considered more acceptable. One parent families may still result from the death of a significant other, but now also come about through decisions or divorce. For example, I have so many aunts that are single moms, some of they are divorced, others are widows, and a few of them does not know wh o are the father of their kids. I grew up in Guatemala and this is so common to happen in my country. Being raised by only one parent seems impossible, but children of single parents can be just as progressive with emotional, social and behavioural skills as those with twoShow MoreRelatedThe Nuclear Family Essay1347 Words   |  6 Pages The Diminishing Nuclear Family Hadar Mustafa Jun29, 2015 Introduction More often than not, stable and functional families serve as a prerequisite to a good society. Hence, the society’s support system for families must be flexible because needs and goals of families vary over time (Loveless, 2007). However, nuclear families face many challenges because parenting, child-rearing, and other economic responsibilities had to be done by two adults only (Bowden Smith, 2010). In thisRead MoreThe Nuclear Family Replaced the Extended Family After Industrialisation679 Words   |  3 PagesThe Nuclear Family Replaced the Extended Family After Industrialisation Talcott Parsons believed that the nuclear family developed mainly as a result of industrialisation. He thought that before the industry took over the functions of the family, the families were extended units of production. This means that the work and home lives were combined and so each family member taught another one skill for life such as education. Parsons says that the extended family stayed togetherRead MoreNuclear Family: Definition, Advantages Disadvantages993 Words   |  4 Pagesand elsewhere, assess the view that the nuclear family is no longer the norm. 24 marks The traditional nuclear family is defined as being a family consisting of a heterosexual couple with 2 or more dependent children (own or adopted) with a clear division of labour. Meaning the men are the instrumental role (breadwinner) and the women are the expressive role (domestic and caring/childcare). Over time this has changed and the nuclear family as become less dominant, some sociologistsRead MoreMarried with Children: The Evolution of the Nuclear Family1396 Words   |  6 Pages Constance Ahrons, a doctor who coined the term â€Å"binuclear family† once said, â€Å"Pessimists say that the family is eroding. Optimists say the family is diversifying. Both points of view are right. Families are more diverse and they are more in trouble-but not because of their diversity. The families of today-whatever their size or shape-are in crisis because our economy is failing, our national resources are shrinking, and our governmental policies to support them are inadequate.† This quote givesRead MoreThe Effects Of Nuclear Family On Modern Society950 Words   |  4 PagesOver the past few decades social scientists have been engaged debates about family change and influences in modern society, with one of the main themes being the strength and relevance of the nuclear fami ly. Those who believe that the nuclear family unit is breaking down often site the fact that social structures holding up the nuclear family, such as marriage, are collapsing ‘The chances in some societies are now less that 50-50†¦ that a child will live continuously to adult-hood with both naturalRead MoreInfluence of Nuclear Family to Development of Antisocial Behaviour795 Words   |  4 PagesIntroduction A nuclear family is a family comprising of parent(s) and children. This model of family is an important aspect in modeling the future of the children. It is within the family environment that a child learns the art of socialization. The family is the first teacher of any child. Therefore, the family a child grows in has a major part to determine how a child will turn out to be later in life. A child is a product of his/her family. There has been a major evolution of the structureRead MoreExamining the View that the Traditional Nuclear Family is in Decline1344 Words   |  6 Pagesthe View that the Traditional Nuclear Family is in Decline When evaluating the view that the traditional nuclear family (of two opposite sex married parents living in a household that contains only them and their own dependant children), is in decline, I will be taking various pieces of research and evidence from Sociologists, Journalists and other sources, into consideration in order to try to determine how true this view is. The nuclear family would appear to be foundRead MoreWhat Does Your Family Fit The Nuclear? Essay1303 Words   |  6 PagesQuestion: To what extent does your family fit the ‘Nuclear’ family, which is still, against the evidence seen as the norm in Western society? Growing up, I never really understood what a â€Å"normal† family was supposed to look like. Before I was even born, my parents had split for good (although the were never married). I stayed primarily with my mother, and it was just the two of us for about four years, although we stayed with others along the way. I interviewed my mother about this time in herRead MoreThe Nuclear Family : America s Ideal Misery Essay1359 Words   |  6 PagesThe Nuclear Family: America’s Ideal Misery Many of us overlook the importance of something as simple as â€Å"family† because it has been something we are familiar with since our first day on this planet, never thinking twice about to topic. Truth be told, the family unit is crucial to who we are and what we value, and even in the bigger picture, the cultural importance it has on society. When we explore one of the most signature family units to date, the nuclear family, we learn its optimistic appealRead MoreThe Extent to Which Social Policies Reflect and Support the Traditional Nuclear Family938 Words   |  4 PagesSocial Policies Reflect and Support the Traditional Nuclear Family Social policy is the package of measures taken to solve a social problem. I intend to assess the New Right and New Left, the taxation law, the Child Support Agency, the fact that the government encourages families to look after themselves, and that 16- 18 year olds don’t get job seekers allowance. The New Right is traditional. It supports the nuclear family and is for being economically independent, not

Communism Post World War Ii Events free essay sample

Russia did not want to allow their portion to be unified into a post-War Germany for fear that the Germans would again be an aggressive and powerful invader. They blockaded Berlin which forced the U. S. O circumvent the blockade by flying planes over and dropping food and supplies to the Berliners. Meanwhile, Russia was helping communists successfully gain control the governments of Hungary, Czechoslovakia, Bulgaria, Poland, and Romania. Their section of Germany became the communist held regime of East Germany. The plans aim was to rebuild the democratic and economic systems of Europe and to counter perceived threats to Rupees balance of power, such as communist parties seizing control through revolutions or elections. 70] The plan also stated that European prosperity was contingent upon German economic recovery. E allowed their freedom B. The Marshall Plan The view of the Marshall Plan is that it was a bold strategy for helping the nations of Western Europe rebuild and grow strong enough to fend off the spread of communism. We will write a custom essay sample on Communism: Post World War Ii Events or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The Marshall Plan was both an event in the Cold War and an important part of the recovery of Post-World War 2 Germany and Europe. In the first few years after the war ended, Germany remained devastated economically. Germany faced major problems due to the loss of agricultural East Germany to Russia making it necessary for the other three zones to import food from outside Germany.Germany had no way to pay for the food so it was charity food. The American and British reacted quickly realizing that such a welfare system could not last forever. Germany had to be revived economically. They quickly organized programs designed to reopen factories in their two zones. This worked well since the effect of the bombings was deceptive and many factories could be quickly reopened. Still, much recovery work needed to be done . In 1 947, after Russia refused to assist in rebuilding the continent, General George Marshall and staff began to work on a major plan to help revivalist the continent.On April 3, 1 948, President Truman signed the Foreign Assistance Act, the legislation establishing the Marshall Plan. The plan concentrated on fixing the damaged infrastructure, flooded coal mines, and senseless trade barriers that were slowing the growth in each nations economy . Partly as a result of the Marshall Plan, the European economy came roaring back after World War II and most of Europe was saved from the grasp of communist Soviet Union. The Soviets and its communists satellites, on the other hand, went downhill economically until even the whole communist System fell apart. The election of Conrad Deadener also helped greatly with the recovery of Germany in Post-World War II. He was elected German Chancellor in 1949 and served until 1965. However, the perfect ingredients were in place for the Marshall Plan to be successful in Post-World War II Europe. Europe was a highly advanced industrial society before the war so adequate skilled manpower for an industrial recovery was present after the war. Additionally, the many European plants which had produced war items were easily converted to producing peace-time items after the war.

The Use of Tone in Man of La Mancha Essay Example

The Use of Tone in Man of La Mancha Essay In the play, Man of La Mancha, written by Dale Wasserman, a conglomeration of techniques is used to set or change the emotional feel of a scene. Lighting is lowered to create a sinister feel, or to show that that scene is in the prison, and sometimes it is increased in order to portray joy, or show that the scene is in the poet’s story. Musical crescendos and decrescendos are also used to show this. But even more important than these, are the tricks used by the actors themselves. Blocking, body language, and emotion are all very important, but one specific thing that I noticed was the tone of the performers. In the scene with the barber, the gypsy girl, and the â€Å"Golden Helmet of Mambrino†, the barber’s confusion and slight fear can be clearly heard, even through his minimal lines. Also, the profuse sincerity of Sancho Panza, not to mention his worry for his master, is clearly expressed in each and every of his scenes, especially the opening scene Cervantes’ tale and the final scene where Don Quixote dies after being reunited with his Dulcinea. Even while singing, (I Really Like Him) his tone and emotion remained consistent with the feel of the scene. The actor’s tone also remains constant to his character throughout the play, never becoming too brusque, or too insipid. Mainly though, the character with the most control over, and who had the best use of his tone, was Don Quixote. In the scene, for example, where Don Quixote is faced with the Knight of the Mirrors and his attendants, his cries of agony at the realization of his situation perfectly depicts the terror which is meant to accompany it. We will write a custom essay sample on The Use of Tone in Man of La Mancha specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Use of Tone in Man of La Mancha specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Use of Tone in Man of La Mancha specifically for you FOR ONLY $16.38 $13.9/page Hire Writer His sadness on his deathbed, his ecstatic joy in the recovery of his memories, and his humility when begging to be officially knighted, are all perfectly portrayed, primarily by the tones he uses to emphasize what he is saying. You can truly believe that he is dying, or remembering his love, or believes that the hotel is a fortress, and it’s landlord , a king. It takes many parts to make a play successful. The following of cues, memorization of lines, and the timing of special effects are all important. On a deeper level, the actor’s concentration, dedication, and skill levels are also crucial. A key part though, which can make or break the play, is the actor’s tone when he or she says her lines. With the incorrect tone, the scene feels wrong and the illusion of the play is broken. In this rendition of Man of La Mancha, the actors placed their tones perfectly, which successfully brought forth the underlying messages in the story, which are usually unintentionally omitted.

The eNotes Blog e-Readers Celebration orSacrilege

e-Readers Celebration orSacrilege Some of the hottest gifts this past Christmas were e-readers: Kindles, Nooks, iPhones, and iPads. The industry expected sales of e-texts to soar and they were not disappointed. In fact, the Association of American Publishers reports that sales took a mighty jump, up an estimated 115.8% in the month of January, and generated some $69.9 million in revenue. No other segment of the publishing industry (paperback, trade paper, hardbacks or audiobooks) saw an increase in sales. In fact, sales took a hit in all other sectors. Mass market paperback sales fell by 30.9%, trade paper dropped by 19.7%, and hardbacks by 11.3%. So are traditional books doomed to go the way of quill and parchment? Perhaps. One day. But there is still a lot of love out there for the real book. A very unscientific poll I recently conducted included comments from defenders of traditional texts, some grudging acknowledgment of the plus sides of e-readers, and a few out-and-out converts to new media. Here is a sampling of some of those comments. From My Cold, Dead Hands! Pffft to the e-Readers: Maybe I dont want to read the new version of Alice in Wonderland. I would prefer to read a second edition in old type, weathered pagesa book that took decades to get into my hands. I got a big Shakespeare book from 1864 and it feels great to read. Who cares what the file date is on an electronic file? Give me a real book. After all candles, incense, hot bath, and an e-reader? No. I like my books still. I want to feel the paper. I want to hold the book. Its a sensory experience. If the book makes me cry, I want my teardrop to darken the page and smear the ink. If someone had the book before me, I want to see   notes in the margins, the messages from mothers who gifted the books (before the giftee sold it to Half-Price Books). I, For One, Have Decided to Extend a Hand to Our Electronic Overlords: I have a KindleI use it for my junk food pleasure reads. Theres nothing like a book and I still have, buy, and read tons of them, but theres only so much space and so many bookshelves. The nice thing about the Kindle is the highlighting and notes featuresthe dictionary too, but its fun to reread a book and see what you said on a previous read (you can also save/print, etc., the notes). The free classics are a plus, but the versions are so so. Its also nice when you want instant gratificationlike junk foodyou want it NOW. :) I have a Kindle and I love it for the most part, but I still do read real books. Its really difficult to flip back and forth in the Kindle, which is my only complaint. For instance, Im reading The Joy Luck Club and I keep getting confused about the characters. Since Im reading a real book version, I can easily bookmark the page that lists the characters and also scan through the previous chapters to recall their individual stories. But since we are all book junkies here, the Kindle keeps the clutter down a bit. Ive Seen the Light! And Its the Soft, Sweet Glow of My e-Reader: I like being able to read a lot for very little dough. The savings √+. (The local news) did a story on my sons school and their e-books and the fact that all students are required to have laptops. The story was due to the fact that they had all classes from home during the icy weather. As for the e-books, the big advantage is that they come to life. They have links, animation, easy to navigate, easy to click on a word and it will take you to the glossary definition if it is a vocabulary word to be learned for the section and many other things e-books are quite a worthwhile technological advancement. I bought it to combat clutter crisis. Good to read long novels while standing on public transit. I read most of Wolf Hall on Toronto subways. Where do you stand? We would love to hear your own thoughts about e-readers. If youve bought one, do you like it? Why or why not? If you havent, do you plan to do so?

I Quit How to Resign from Your Job With Professionalism

I Quit How to Resign from Your Job With Professionalism â€Å"I quit.† Seems easy, right? Like everything else in this world, not so much. You could send that very-on-the-nose note to announce your departure, but it’s really poor form. If you’re ready to move on to a new position, or you just can’t deal with your job any longer, there’s a process to sending a good and proper resignation letter. No matter how POed you are on your way out the door, you’ll be thankful later that you took the time to send a well-crafted, anger-neutral letter or email to your (soon to be former) boss.1. Why Send a Letter  2. When to Send the Letter  3. How to Send the Letter  4. What to Write  5. What Not to Write  6. The Sample Letter  Why Send a Letter?  Different  offices have many different ways to reach someone: interoffice chat, phone, email, meetings, coffee machine ambush, etc. So why go the official resignation letter route? It leaves a paper trail, in case there’s any question later abo ut timing, or your intent to leave. You can tell people you’re leaving through any channel, but you should always tell your boss first, and make sure that you follow up with an official letter. That way, he or she can forward it as necessary, and HR will have an official document and be able to start any necessary exit processes.When to Send the Letter  The timing on the letter varies according to a few different factors. First, always check your company’s HR policies. When you started, you may have signed something agreeing to give a particular amount of notice. Two weeks (10 business days) is an informal standard, but definitely double-check to make sure that this is a courtesy and not a legal requirement. If your start date at your new place is in two weeks and your current company requires three weeks’ notice, then things could get sticky. If you kept your onboarding documents at your current job, you can check those. Otherwise, a discreet email to HR shou ld be able to resolve the question for you, without advertising to everyone that you’re on your way out the door.When It’s Okay to LeakIf you have a good relationship with your boss, you should also plan to give him or her an unofficial heads-up before you send the official resignation note. Getting a formal announcement out of nowhere can feel like blindsiding, especially if you have a good working relationship.  Employees in the United States change their job once every three years on averageSo you might want to precede the whole process with a quick face-to-face meeting (as private as you can get it), and let your manager know that you’re leaving for a new job, or just leaving. You’re not obligated to go into great detail, about what your next steps are after you leave, but given that this person will likely be responsible for handling your duties in the interim and for initiating a search for You 2.0, a heads-up will likely be appreciated. Itâ€℠¢s a professional, respectful way to set the tone for your leaving.If you are genuinely worried about your manager having a bad reaction to the news, you can skip this step and go straight to the letter, or go through your HR department. Otherwise, most professional people accept this as a fact of life in the workplace, and will accept your resignation with the same level of graciousness that you put into it. Once you’ve sorted out the amount of notice you’ll be giving and have given your manager the courtesy heads-up, it’s time to hand over the letter.How to Send the Letter  If your company is one that handles everything via email, you can probably get away with emailing your resignation to your boss (after the face-to-face meeting). As a rule, though, it’s best to go the analog route and have a printed, signed version. If possible, have it printed, signed, and ready to go for your meeting with your boss. There’s no need to send it through the m ail, or recruit a singing telegram-ist to deliver the letter. If you don’t have it ready for your face-to-face meeting, make sure to hand it to your boss shortly afterward- you don’t want there to be any conflict over the amount of official notice you’re giving.What to Write  The content of a resignation letter is pretty straightforward. There’s no need to write a novel, with plotlines or long, tear-stained devotional passages about how you haven’t slept since you decided it was time to part ways with the company. The letter should have just the most straightforward information, with a little of your own voice thrown in:Greeting (addressed to your boss)I resign.My last day in the office will be†¦I appreciate the opportunities I’ve had in this role†¦I will be available to help with any transition duties, or training a replacement staff member.Thanks!RELATED:  5 Points to Hit in Your Resignation Letter Pretty simple. It’s not the place to weigh in on your replacement, or ask if you’ll get paid for unused vacation days. The purpose of the resignation letter is just to get it in writing that you are leaving in X amount of time.For a quick overview on how to handle the resignation process, Howdini has a great video:What NOT to Write (Or, Don’t Burn Bridges)  The resignation letter is also definitely not the time for axe-grinding. (That’s more of a venting-to-friends activity, not to be committed to paper.) If your boss is a jerk, or you can’t work for the company for X, Y, Z reasons, it doesn’t matter here. If you can’t quite manage a friendly tone, go for a civil one. And if you can’t find anything good to say about your time there, dig deep and†¦fib a little, if you need to.You may be about to blow this popsicle stand, but keep in mind that you’re probably not quitting to go live in a wifi-less cabin somewhere. You’ll be moving on t o other jobs, possibly even in the same industry. And people talk, especially when there’s good gossip. You want to be known as a consummate professional, especially as you’re gearing up to start somewhere new. The last thing you want is for your new boss to catch wind of a tantrum thrown on your way out of your last job. So even if the circumstances of your leaving are less than ideal, shake off the anger/annoyance/temptation and be gracious in your parting letter. If you really need to get some residual anger out of your system, funnel it all into an â€Å"I quit† movie marathon. Never forget that this letter will be part of the official record in your company. It will be seen by your boss, yes, but also HR and goodness knows who else. Please apply the same policy you should apply to all workplace communications: don’t write anything you wouldn’t want to be posted for the entire company to see.The Sample Letter  Hey Michael,I quit. I have a bet ter job offer, and honestly can’t stand the idiots in this office any longer.Bye,DwightUmm, no. Not only is this the wrong tone and unnecessarily antagonistic, it leaves out important information like an end date, and basic niceties like a â€Å"thank you.† Let’s try that again.Yo Michael, The time has come to say goodbye†¦Ã‚  So yeah, this is an official note to say I quit†¦Ã‚  It is with a heavy heart and a veil of tears that I announce I will be resigning†¦Ã‚  Dear Michael,  Please accept this note as a formal notification that I am resigning my position as Assistant (to the) Regional Manager to pursue other opportunities. My last day will be March 18, 2024.  I really appreciate the opportunities I’ve had here these past 12 years, and hope you know how much I’ve learned and grown in my role. I’ve learned an incredible amount about how to market and sell paper, both from our colleagues here and our clients. Over the next two weeks, I’d like to work with you on any necessary training or transition duties as I wrap up my time here.  I know the company will continue to have great success, and am so thankful to have been a part of it for so long. Please don’t hesitate to let me know if you have any questions, or if there’s anything you’d like to discuss about my departure.Best wishes,DwightMuch better! Resignation letters are hard because you’re writing an official document, so it may sound a little stiff or formal by default. Definitely err on the side of formality, because again- you never know who will be seeing this once you release it at work. It’s okay to make it sound like your regular voice, but just make sure you’re not going too informal, and that you’re hitting all the necessary elements (gracious tone, end date, availability to help with the transition up until that date).So while it might be tempting to create a stir on your way out (possibly involving Kanye West), you will never go wrong with a thoughtful, clear, and definitive resignation letter. It may be tempting to dismiss your current job as old news, or use this as a chance to burn someone or the company on the way out, but if you resist that urge, you’ll be the better for it later on. Viral social media stardom is fleeting, but your reputation is forever.

Ginevra de Benci by Leonardo da Vinci Essay Example | Topics and Well Written Essays - 500 words

Ginevra de Benci by Leonardo da Vinci - Essay Example The medium used for painting the piece is oil on wood measuring 42.7 by 37 cm (National Gallery of Art, 2015). The female portrait is Ginevra de’ Benci, a 17 years old who during her era is an intellectual. The background of the painting depicts the ‘leonardesque’ style of trees, mountains, and hazy sky with a dreamlike atmosphere. The artist did the effect of hazy sky through an overlay of oil glazes, hence creating a thin curtain of mist. On the portrait’s reverse side, is a design of a chaplet palm and laurel, which encircles a juniper spring with an inscription of Beauty Adorns Virtue in English but it is in Latin, Virtutem Forma Decorat (National Gallery of Art (2015). The juniper could have meant chastity while the palm represented moral virtue of Ginevra. The portrait depicts a female figure with a marble-like skin while the hair is styled in ringlets putting a face that portrays a sulky and proud facial expression. This could be illustrating that Gi nevra might not have been happy with the upcoming marriage. The portrait has been argued by historians to have been commissioned as an engagement portrait for celebrating her marriage. According to National Gallery of Art, it was commissioned by Bembo, a friend of Ginevra, for celebrating the occasion of her marriage as well as a substitute for the object of his admiration and esteem (2015). Human values are depicted in the painting in the approaching marriage of Ginevra to Niccolini. Human values are standards, principles.

Human Resource Assignment Essay Example | Topics and Well Written Essays - 750 words

Human Resource Assignment - Essay Example In addition to that, employees are not enough trained on Business Etiquettes, Courtesy, and Business Communication. Hospitality is all about handling people. So an employee must have right attitude, tolerance, and listening skills in order to move up the hierarchy. There is still a long way to go to inculcate good public relation, interpersonal skills. With the increase in competition due to the coming up of major players, the need to train employees has increased more than ever before. The major players are now strategizing to increase the turnover of the customers by training their employees on Communication, Dining and Business etiquettes, etc. Some of the essentials required by this sector are: While resources are most important assets of an organization particularly in hospitality sector, they should be trained enough for handling any kind of situations. Most of today's organization doesn't provide the training to their staffs because of the cost and time constrain as they are unable to keep the pace with the growing competition in shorter term hence they do work with the untrained workers. In longer term this cost as image of the organization and hence on their business. To deal with the above situation, organization needs to develop workplace training sessions for adults. There are some pre requisites before conducting the training namely identifying what exactly is needed, why this is needed and what will be the benefits for the same. Following are the method for identifying the training need. 1. questionnaires/surveys 2. Interview 3. Observation 4. Brainstorming 5. Performance appraisal etc. Once this is done, there need to identify how the training should be conducted. This will depend on various factors such as 1. Budget 2. Convenience 3. Training need 4. Resource availability Training can be conducted as 1. On the job Training 2. On site Training 3. Off the Job Training 4. Off site Training. Once all these factors are analyzed, training can be initiated at the work place. Effectiveness of workplace training: Training is an investment for long term benefit of an organization so it's become important to track how your investment is doing, whether it's producing the desired results or not etc. Once an organization has implemented a training program it will hopefully strive to improve it. The first important tool to consider is the training feedback or evaluation survey. These tools should have enough information so as to be relevant and should be filled out anonymously by the training attendees. If there is criticism, turn that criticism into a positive and put forth the effort to eliminate the cause of the criticism. Once all these things are done, training can be evaluated statically to see whether it met the desired results or not. Approaches to the evaluation of workplace training: While organization spend significant amount of money on training it's become important to define metrics for evaluating the effectiveness of the training. There could be various ways for the same. Some being as 1. Reactions Level: This can be identified

Impact of the Public Sector Reform on Employee Relations Essay Example for Free

Impact of the Public Sector Reform on Employee Relations Essay In the 1950s to the 1960s, the Conservative government of Britain had a strong compulsion to adopt a neoliberal stance on economic policies. Certain industries which were nationalized by the Labour Party after the Second World War were privatized. State spending on health, education, and welfare were cut; this was so since too much spending would necessarily result in low economic performance of the whole country (although variation was possible). Military spending were doubled to contribute to the overall economic output of the country. This was continued during the leadership of Lady Margaret Thatcher (1979-1990) and her successors. Nevertheless, although allowing a significant reduction of government spending in the welfare sector, the Conservative government instituted some reforms to upgrade government programs on health and the bureaucracy itself. The Local Government Act of 1993, Health Care Complaints Act of 1993, the Parliamentary Commissioner Act of 1994, the Local Government Act of 1974, were some of the examples of the readiness of the Conservative government to put efficiency and cost effectiveness the emblem of a government in service (to the people). These acts passed by the Conservative government were meant to streamline the bureaucracy, increase the powers of the local governments (establishment of new boroughs and counties), extend the powers of the parliamentary Commissioner in investigating cases involving local authorities, improve the health care service by allowing the private sector to invest in government health programs, and put a mechanism to effectively negotiate grievances in the government and its related entities (like government owned corporations). These programs and policies were meant to create a bureaucracy with the intense participation of the private sector. They were programs economic in character. Programs were directed to the service of the public but with the capital from foreign and private individuals playing as the motor of development. The image of these programs seemed to be a positive one; intense partnership between the government and the private sector in the service of the public. With the coming of the Labour party in power, some changes were presented in the halls of the parliament. There was a step to extend the jurisdiction of the Parliamentary Commissioner in matters allowed by parliament (the three Ombudsmen – the Parliamentary Ombudsman, Local Government Ombudsmen, and the Health Service Ombudsman). An act was established also established to increase public sector employment; a move almost totally ignored by the Conservative government in the 1960s. It is expected that due to the changes hitherto described above public sector employment would increase by 360, 000 in the next three years, and almost a million in the following decade. The number of teachers, doctors, nurses, physical therapists, and policemen increase by more than 100, 000. An increase would be expected in other professions (which is around 200, 000). Although a general cut was implemented by the Labour government in the civil service programs, they were compensated by an additional increase of public sector employees. In sum, the reduction was implemented to increase public sector employment since public sector employment is one of the most effective ways of boosting economic performance (due to its manageability). Needless to say, however, these changes proposed or implemented by both the Conservative and Labour governments of Britain have had certain effects or impacts on employee relations. The Health Service Act implemented by the Conservative government proposed a two-valorem system of negotiation between complaints presented by the two parties involved. This action proved to be not very effective as a conflict resolution mechanism for employees. The present Labour government established a so-called conciliator with the aim of: a) to bring the parties involved together for the general purpose of negotiation and settlement of complaint, b) to create activities deemed possible for the attainment of a settlement, and c) to assist the parties involved to reach for a fair agreement. This three-party system of negotiation (which were imitated by other countries) became an effective force in resolving conflicts in the public sector (the employees). The number of resolved cases or agreements had increased since the coming of the Labour Party in power, a huge debacle for the opposition. The creation of metropolitan boroughs and counties made by the Conservative government (acts enumerated above) had also some impact on employee. It fairly promoted intense economic activity in these new districts. Public sector employment had a slight increase. Herein, therefore, it became the duty of the government to institute a law which will protect the interests of the public sector employees. The creation of the Parliamentary Commissioner Act of 1967 and an amended bill in 1974 defined the limits of the Ombudsmen in reviewing cases or complaints presented to them by government employees (against local authorities or other employees). The effect was good for the public sector employees since the number of complaints and perceived problems in the government bureaucracy was reduced. This was not really a good measurement of performance since the number of public sector employees at that time was small; the civil service jobs share in the total number of jobs was about 62 %. Due to the increasing number of public sector employees, the Labour government refined the laws mentioned above. The Ombudsmen were granted right by the parliament to investigated cases independently, with more flexibility and rigour. A general program of action was also presented by the Home Secretary to reform the Parliamentary Commissioner, giving the latter some air of independence when reviewing not only cases involving possible crime committed by members of parliament) to the general public but also to the increasingly significant public sector employees. It was recognized that delays would be averted if this plan of action was implemented, and therefore a possible amiable relationship between employees result. Nevertheless, a revised attached code of ethics was also created to define the limits, behavior, and general attitude of government and public sector employees to lessen if not avoid conflict or mismanagement of delegated or defined duties. The Labour Party in the present can boast of its success both in streamlining the bureaucracy (same policy of the Conservative Party in the 1950s to the 1960s) and providing a ground base of cordial public sector employment system (employment and conflict resolution). One public sector employee noted that the propensity or possibility of having conflict with her peers appears to be zero. This is one indication of the success that the Labour Party can present to the general public. However, such conclusion is not totally accurate. The Conservative Party was able to create brilliant programs that were responsible for the increase in the public sector employment. The program of devolution gave the local governments the right to shape the economic policy of the districts involved. The air of supra liberalism during the Conservative years promoted intense migration from Third world countries. The public sector itself became a hotspot for foreign nationals, of which the British public can depend for their special services. It seemed from the start that conflicts will generally increase because of the heterogeneous character of the public sector employees, but the speculators proved wrong. The code of ethics prepared by the British MP’s became a great piece of political scourge to the Labour Party. Not only that conflicts decreased in the government and the public sector decreased, the ruling government experienced a high trust rating from the two sectors, and of course a high applause from the business sector. The consecutive electoral victories of the Conservative Party (during the leadership of Margaret Thatcher) proved the case. Nevertheless, certain variables have to be considered when reviewing electoral victories for it is itself a locus of different circumstances of advantages. There is one great difference, however, when we talk of the Conservative and Labour policies on public sector employees. It is generally accepted that impersonality should be the hallmark of a bureaucracy and of course the whole economic activity of the country. In the Conservative years, impersonality was always implemented in the government, with strict penalties for noncompliance. However, government officials were not aware that the policies they implemented (as enumerated above) had certain effect on the public sector employees. Employees became resonant of public policy. They became more politically involved in public discussions. And as such, became more impersonal in their dealings with the government and their clients. Economic activity, according to one economist, may well be possible under the environment of impersonality and laxity of economic requirements. This became a starting step for Britain to increase its migration rate. The increasing number of public sector employees heralded a change or revision in the policies of the Labour Party in terms of public sector employment. As mentioned above, the proposed and implemented policies on negotiation and extension of powers of the types of Ombudsmen were generally meant to increase the efficiency of the government to solve disputes arising between employee and employee, employee and employer, and between employee and government officials. Remember that the public sector had increased because of migration. The current composition of the public sector employees deserve a more efficient and complex system of work arrangements. This was generally only an adaptation made by the ruling government, since the composition of the public sector employees during the 1950s to the 1970s is generally different from today. Nonetheless, only two factors in the public sector employees that became the point of reference of a government in power: its size and composition. Although this may be a narrow generalization, the circumstances that followed afterwards prove such assertion.

Complaints Against the Northwestern University Students :: Northwestern University Students

Rowdy Drunken College Students I read an article about Northwestern University students in Evanston, Illinois, and the community’s complaints against them. The article, written by Bob Seidenberg, discusses the need for city council to call a meeting to address the problems of rowdy drunken college students disturbing the peace and quiet of the evenings, by wandering around and through Evanston homes late at night. The underling issue is, is this Northwestern’s problem, or simply a lack of respect from youths today? The drunken rowdy college students have always, and will always be around. However, the Evanston community has progressively seen the situation get worse. The college students are beginning to buy houses next door to families with young children, which, potentially causes a problem. While there are no laws forbidding NU students living off campus, people in these areas are becoming upset with the result of the students living in next door. When you have students whose primary focus, beginning on a Thursday night, is to become completely â€Å"plastered†; living next door to the middle school child trying to sleep, problems arise. The parents of these children are sick of the students behavior, and are voicing their complaints. Jane Evans was quoted saying, â€Å"These students are supposed to be the cream of the crop, but we would assert, and many of our neighbors would agree, that these students feel grossly entitled to run wild in our streets without any respect for the community in which they live.† (pg. 18) This quote is more than true. I have spent many nights at my friend’s house, and the next morning there will be empty beer cups all over the yard, and most of the night we were kept up by yelling and laughing college students running up and down the streets; she lives in the thick of the college student off campus housing. The only problem is, whose fault is it? Northwestern University has on campus housing; however, the University is completely engulfed within the community. Living off campus is one of the benefits of going to NU, because the community and environment around the campus is extremely college oriented. When you have an environment that is so conducive to the typical college student, obviously they are going to treat the surrounding territory as their territory. So then the issue really becomes, whose fault is it? Who is to blame for the noise complaints and the rude, rowdy behavior?

Shattered Glass

Bobby Taggart December 10, 2012 Tracy Crow Journalism Shattered Glass Response The movie â€Å"Shattered Glass† is about a journalist who writes for the New Republic Newspaper, who later gets caught for fabricating 27 of his stories. The journalists name is Stephen Glass. Glass was 24 when started working writing and reporting for the New Republic. The New Republic is a well-known newspaper located in Washington D. C. Glass has had a reputation for having the most vivid stories. Glass’s first suspicion of fabrication was noticed when he wrote a story about the ACU (American Conservative Union).The Chairman of the ACU David Keene, first questions his story. His story contains a description of drunken tricks by young Republicans and mini-bars. Stephen’s boss confronts him about the situation. Turns out that his story was true, except for one small detail about how there were no mini-bars but just fridges available to rent with alcohol in it. The young journalists, newest story comes about in a staff meeting, which is about Ian Restil, who is a teenage hacker. Restil hacked into Jukt Micronics security systems. Jukt Micronics proceeds by hiring the teenage hacker.After the issue is printed, the editor at Forbes Digital Tool questions his reporter Adam Penenberg how he didn’t get the story on this teenage hacker who is hire by Jukt Micronics as a security consultant. Penenberg begins to investigate the article, as it already appears to be fishy. After more and more research, Penenberg takes his research to his boss showing him that nothing in the article exists. He then begins by making a phone call to Stephen for contact information on his sources mentioned in the article. The phone numbers given from Glass to Penenberg were made up as well.Stephen’s editor along with Forbes Digital Tool’s editor in the end found out that none of his sources existed. Stephen’s editor figures out that his brother lives in southern Ca lifornia, who has been setting up voicemails on his number to back up the fact checking process for him. This movie showed me how important it was to have all of your sources available and credible. Fabricating quotes is a serious manner in the journalism world. Fabricating anything can ruin an individual’s reputation as a writer and can even take down an entire newspaper just like the New Republic Newspaper.Journalism is a load of work. Taking shortcuts in journalism will catch up to you and haunt you throughout the rest of your career. Writing for a newspaper takes many countless hours of hard work without doubt. Therefore, fabricating anything in journalism can lead up to you being sued. Overall, this movie showed me a lesson personally and I’m living up to the consequences right now. If you put the time and effort into getting important information, the results will show the rewards.

Infrastructure and Housing in Malaysia

The original purpose of holding architecture is due to the demand of human existences. During ancient clip, worlds were brooding in caves. However, people need nutrient to last. Peoples need to travel out to run therefore a impermanent shelter for runing and assemblage is needed to against Sun or rain. This is the starting of something coming architecture. Along with the betterments and alterations of demands of homo for life, the development of architectures began. Alternatively of hunting, people started to settle down to the concern of agribusiness. Here come to the emerged of lasting colonies. Slowly, the maps of architectures increase together with the addition of demands of human existences ( Gascoigne, 2001 ) . However, human existences are largely ocular animals ( Mary Rottman, 2013 ) . They like to fancify all the things that they can. Hence, different period clip of manners appear bit by bit. This influences the visual aspect of architecture every bit good as the houses at the same clip. There is no exclusion for the development of architectures of Malaysia. Harmonizing to The Encyclopedia of Malaysia by Chen Voon Fee, the mundane homes of the local people can be referred by slang houses which ‘vernacular’ means ‘domestic’ or ‘indigenous’ . Therefore, the local houses’ manners, how the houses are built and the type of stuffs that were used are chiefly focused by this type of architecture. The places of the Orang Asli—the foremost autochthonal people of Peninsula every bit good as Sabah and Sarawak’s autochthonal group and the Malayans who are classified as the Austronesian group of people are included in Malaysia. Post-and-beam constructions which are raised on piles, with gabled roofs are the basic of Malaysia’s common houses. The Encyclopedia of Malaysia farther elaborates the undermentioned traditions: A extremely delicate architecture was developed by the Malays for their houses in 1511 which was the period that Melaka being conquered by the Portuguese which reflecting contemporary rules of standardisation, prefabrication, site assembly and enlargement. Timber and other jungle green goodss are the edifice stuff and pitched roofs, post-and-beam building are its characteristic. The houses were highly suited to the tropical region’s climes which are hot and wet. The residents were all afforded with cosy airing and filtered visible radiation though the different lines on the E and west seashores of the Peninsula influenced the development of the roof signifiers. Palaces and mosque, longhouses and homes were applied with the same building techniques and stuffs in order by the Malays, the autochthonal peoples of Sabah and Sarawak and the immigrant people at the minute. The Portuguese and the Dutch introduced unknown edifice types such as garrisons and churches, and accomplishments every bit good as altered in the graduated table of edifices and the stuffs that were used. Furthermore, to set up streets and allocate quarters of the town to different communities, town planning was used. However, their different architectural manners had no digesting influence although they had occupied Melaka for over 300 old ages. The Straits Settlements of Penang, Melaka and Singapore were set up via the British which led by the understanding between the Dutch and the British in 1826. Malaysia had a great transmutation hundred old ages subsequently. The manner for modern and urban substructure was paved by the creative activity of colonial business and commercial involvements in the town such as Melaka, Georgetown in Penang and Kuching in Sarawak. Tin excavation so changed in graduated table and moved upstream and inland which ab initio a bungalow industry along the bayou of the West seashore. Peninsular west coast’s was efficaciously opened up followed by the large-scale planning of gum elastic which to the initiation of tin-mining Centres, Chinese and Indian colonists, to work the mines and plantations was brought in which makes their typical edifices enrich their new fatherland in the early 1900s. The substructure of roads, railroads and ports was financed from the net incomes of the creative activity of universe markets for Malaysia’s Sn and rubber along with the rise of Western industrialisation. The hard-on of enforcing administrative and commercial edifices were enabled by prosperity and assurance chiefly in the Western Neoclassical manner and of other edifices which in a mixture of European manners. From 1896, the imported Mogul manner which was retroflex all over the state particularly mosque was enjoyed a short but permanent period by Kuala Lumpur which is the capital of the Federated Malay States from 1896. The chilly avenues of Penang, Ipoh, Melaka and Kuala Lumpur were lined by Sn and rubber wealth with broad Villas. The colonial influence in the northern and eastern parts of the Malays Peninsula was minimum. Therefore, the royal capitals of Alor Setar, Kota Bharu, Kuala Terengganu and Arau were the development of Malay urban Centres from bunchs of campongs gr ouped around the ruler’s castles and the chief mosques. Malaysia’s architecture embodied the taking tendencies from the West in the period between the two universe wars. The passage from the traditional slang was marked by Art Deco while early Modernism and the International Style were transited from Western Neoclassical manners. A batch of professionally qualified designers, largely expatriate, designed most of the edifices at the minute. Building programs within town bounds were so required to breast by the debut of constructing by-laws to ‘qualified persons’ . Along with the Merdeka, or Independence, in 1957, Malaysia has the greatest architectural transmutation. The new nation’s capital, Kuala Lumpur, was so transformed from a colonial town. New and make bolding signifiers expressed the chesty symbol of nationhood which largely the work of abroad trained Malaysians. The first arose skyscraper was enabled with the changed of the graduated table of commercial edifices by advanced building accomplishments and industrialised constituents. The appeared of shopping arcades and mega promenades replaced the store houses and emerged of multifunction composites was made manner by townhouses. Then, suburban Centres and townships were created by the replacing of cottages and flats to condominiums with centralised installations and large-scale lodging estates of insistent single- and double-storey nexus houses. The consequences which are non ever compatible shows that vie with the International Style was formed by autochthonal cultural which showed a Malayan architectural individuality in the on-going hunt. Owing to the penchant of anon. , the Sun shadowing installations of the early skyscrapers had replaced by all-enveloping tinted and heat-resisting glass. Tropical elements such as elevated planting and new showing devices are introduced merely one time in a piece. The consciousness of the demand to continue prewar edifices was being enhanced which coincided with the lag in the belongings market which because of the inordinate edifice of the 1980s and so, the country’s foremost non-governmental organisation for heritage saving was born. On the contrary, the gait of edifice was boosted with the ageless economic growing in the 1990s for about a decennary and a figure of mega undertakings was develop finally. The mega undertakings include: one of the world’s tallest office towers, the Petronas Twin Towers ; a state-of-the-art airdrome, the Kuala Lumpur International Airport which was located in a semisynthetic wood ; a design which placed Malaysia at the front line of bit and fibre optics engineering, the Multimedia Super Corridor ; and last but non least, the country’s 21stcentury place of authorities, the Putrajaya. Enormous challenges were faced by Malayan architecture in a technological universe at the get downing point of the new millenary. To hold a better quality of life in the 21stcentury, it is pressing to continue Malaysia’s early edifices and depict from them valuable lessons on graduated table to better the Malayan live and work which more environmentally antiphonal solutions will be demanded by greater urbanisation.

Mmmm, You Dirty Rat!

Mmmm, You Dirty Rat! Mmmm, You Dirty Rat! Mmmm, You Dirty Rat! By Maeve Maddox Its the rare media mention of Wall Street con man Bernie Madoff that doesn’t contain the word rat in some context. Bernard Madoff is an evil crook but apparently not a rat. The Big Rats off to the Big House for Life, What About the Little Rats? Madoff may rat out co-conspirators They [Mr. and Mrs. Madoff] seemed to stay apart from the herd,† the club member said. â€Å"They chose not to get into that social rat race.† U.S. District Judge Denny Chin who presumably will sentence Madoff said that he’d sharply limit the number of Madoff victims who get to shake their fist in the swindler’s face and tell him what a rat he is†¦ It is almost inconceivable that Madoff could have spent 20 years squirreling away clients money in a Chase Manhattan bank account, conducting virtually no legitimate transactions, without anybody at Madoff Investment Securities smelling a rat – The etymological origin of the word rat is lost in the mists of the long history shared by this repugnant animal and human beings. (I know, white rats make nice pets. Im talking about nasty rats au naturel.) The OED offers several possible origins, but concludes: It is uncertain whether the Latin and Romance words are cognate with the Germanic words, or whether they were borrowed from Germanic, or vice versa; in any case the ultimate origin is uncertain; perhaps imitative of the sound of gnawing. The OED also offers seven entries for rat as a noun and three for rat as a verb. The literal meaning of rat is, of course, a rodent resembling a large mouse, often with a naked or sparsely haired tail. Then there are the figurative uses that derive from the fact that rats are associated with filth and that they are said to be quick to leave a sinking ship or a falling house. The sense of rat as one who abandons his associates was in use in 1629. rat as a noun rat a despicable person, especially one who betrays or informs upon associates. rat scab laborer NOTE: a scab is either an employee who works while his colleagues are on strike, or an outsider hired to replace a striking worker. rat a pad of material, typically hair, worn as part of a womans coiffure to puff out her own hair. rat as a verb rat intransitive verb to desert a party, cause, or princple; to go over as a deserter; to abandon, desert, or betray any person or thing. rat transitive verb to backcomb or tease hair rat intransitive to act as an informer; to betray to the police or other authorities rat on to inform on a person rat out to inform on a person; to betray a person to the police or other authorities Other rat words and expressions rat-fink teenage slang from the 60s. A pleonasm since either rat or fink alone can mean an informant or, as verbs to inform. rat-race A fiercely competitive race or contest; spec. urban working life regarded as an unremitting struggle for wealth ., status, etc. ratsbane arsenic rathole messy, nasty place rat-pack juvenile gang; celebrities surrounding Frank Sinatra to smell a rat to suspect that something is wrong Rat has even become a suffix to create words that mean person who frequents such and such a place: dock-rat, bar-rat, rug-rat, etc. My brother, like many Cagney impersonators, thought he was quoting Cagney when he said, with appropriate grimaces and inflections, Mmmmm, you dirty rat! According to the Wikipedia Cagney bio, what Cagney really said in the movie Taxi! was Come out and take it, you dirty, yellow-bellied rat, or Ill give it to you through the door! Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Expressions category, check our popular posts, or choose a related post below:Homograph ExamplesThe Letter "Z" Will Be Removed from the English AlphabetThe "Pied" in The Pied Piper

How to Improve Email ROI With Matthew Montoya From Constant Contact

How to Improve Email ROI With Matthew Montoya From Constant Contact Email marketing is that trusted friend that’s been around forever and will never let you down. You can always turn to it when you need some help. Plus, it gives you a whopping average ROI of 3,800%. That’s $38 for every $1 invested. Today, we’re talking to Matthew Montoya, the partner enablement and training manager at Constant Contact. He has helped consult more than 13,000 businesses on email marketing best practices. Email has been around a long time, but Matthew describes current trends and what works today. People who give you their email address are expressing interest in your business Quantify the value of your email list by multiplying the size of your list by the price point of the average they sell to get a dollar figure Biggest change in email marketing over the last seven years is mobile readership; 51% of business/non-profit emails will be opened on a mobile device People used to spend 35-40 seconds reading an email; now it’s 5 seconds Emails need to be succinct, make an impression, and include a call to action Think of an email not as a message, but an advertisement where people see the information, act on it, and go to your website or elsewhere to learn more Every contact matters and can produce money for your company The more targeting and testing you do, the better your responses HTML vs. Plain Text: Depends on your audience, but concise HTML emails usually generate higher, better responses Preview email messages to see how they display on different devices Know your audience to know what content they will find valuable and relevant Constant Contact’s Marketing Pillars: Segmentation, personalization, automation People look first at who sent an email, rather than the subject line; email should come â€Å"from† the brand Test subject lines to avoid repetition and make sure they grab readers’ attention Explore all marketing options across platforms all work together to share a story Links: Constant Contact Constant Contact for Free Email Subject Line Tester Integrations Write and send a review to receive a care package If you liked today’s show, please subscribe on iTunes to The Actionable Content Marketing Podcast! The podcast is also available on SoundCloud, Stitcher, and Google Play. Quotes by Matthew Montoya: â€Å"Email marketinghas changed dramatically over the last seven years. What used to be a best practice has evolved.† â€Å"Email marketing may haveless sex appeal than social media and other kinds of marketing.† â€Å"The one app that most people don’t even think of as an app is email. And yet, that’s probably the most used app on your phone because that’s where we’re doing business.† â€Å"Think of an email not as a message. It’s not a form of communication. It’s an advertisement.† It’s really important for everybody, if there’s one huge takeaway today beyond just building a mobile-responsive and mobile-friendly email, it’s making sure your content within that email is relevant.

Renchong.Li's Personal Statement for Postgraduate Application

Renchong.Li's for Postgraduate Application - Personal Statement Example always been one of my ambitions, which has driven me to apply for a chance of pursuing a postgraduate degree in Money, Banking and Finance in your institution. My request for a chance to pursue a master’s programme in Money, Banking and Finance is not based on a desire for a title of a master programme graduate, but rather on my zeal to delve into Finance thus actualizing my career objectives. In effect, this programme would equip me with profession-related skills that would aid me in various systems-level decisions on issues pertaining to Finance. It would also benefit me in the development and creative utilization of computational and analytical techniques for solving financial-related problems, over and above gaining the broader skills, knowledge and background essential in becoming efficient in my profession, particularly in the modern-day rapidly changing global economy. My academic background has immensely equipped me with invaluable fundamental knowledge, which will be of great assistance on my enrolment for this programme. I possess a Bachelor of Commerce Degree in Finance, which is perhaps the primary strongest facet of my application. I have a good studying ability – my Grade Point Average is above 3.0. This is a clear indication that I have a sharp mind that is able to organize reason as well as other complex facts in a precise order for good results in Finance. I am also a resourceful and dynamic person with interpersonal and negotiation skills, an approachable and sociable person, one who is open minded and excellent in networking in addition to being an excellent team player. I believe that over and above increasing my knowledge in Finance, pursuing a postgraduate degree in Money, Banking and Finance would give me the chance of sharpening these skills further. Moreover, my attribute of keeping myself updated by reading magazines, par ticularly business-related ones, enables me to explore diverse business ventures, boost my interest in Finance

M2A1 Essay Example | Topics and Well Written Essays - 750 words

M2A1 - Essay Example Dr. Samuelson, the founder and CEO of CardioFIb should accept investment from Greenhouse or not and Rudernman, the co-founder of Greenhouse should continue with this investment offer to CardioFib. These two key questions will be answered based on in depth analysis of the case study. Trends in venture capital Venture capital business is very much essential for today’s aspiring entrepreneurs for giving lives to their innovative ideas and insights. This business acts as catalyst for the any innovative innovations and risk associated entrepreneurship. It creates job opportunities, stimulates economic growth of a country or global economic growth and recovery. The venture capital industry has been undergoing in substantial transition. It is termed as rightsizing. The leading global players in this industry have been shrinking due to poor return on investment and decrease of potential new entrepreneurship to asking capital for venture. This industry enjoyed a substantial growth rate in pre dot com bubble era. The transition has been underway in quite slow motion due to frequent economic downturn in global economy. Still, the venture capital firms with wide market presence have been enjoying good return (Pearce & Haemming, 2012, p.1). Greenhouse relative to trends in venture capital Greenhouse was established at the time of global tech bubble. It missed out the pre era growth phase of this industry. The company business model is a single industry specific which is healthcare industry. Though the business operates with a narrow customer segment, but it had comparatively better opportunity and growth potentiality. The company achieved successful completion of $12 million fund raising within one and half year of establishment. Therefore, the fund raising potential of the company is very strong as it did it within an era economic slowdown in global economy due to tech bubble. Therefore, by comparing the business trend of the company with industry, it can be said th e company had developed a strong partner network to operate actively and to serve its target segment. Positioning of Greenhouse relative to venture capital industry The case describes the position of the company in early stage of 20th century and its first two years of its establishment. The company has very quickly developed potential partner network to raise fund to be ready to serve its target segment. It achieved more than its initial goal which developed considering the economic condition. But as a venture specialist for a specific and steady industry of healthcare instrument business, it was able to show quite attractive and noticeable business model to its investment network partners. The company developed its short goals by considering environmental factors to make a strong foothold in the venture capital industry. Greenhouse target "deals" relative to Greenhouse resources, relative competitive position and advantages The company has set target or business goals with a deter mination. It desired to less prediction of cash availability, accept funding after in depth scrutiny of Target Company with high consideration of crunch downs. The company also concentrated on fewer deals with comparatively stronger competition from premier deals. It can reduce the future risk of return on lower investment. It also expected few financing after initial funding to be ready next potential funding. Pros and cons for participating

The Managemetn and Control of Quality Essay Example | Topics and Well Written Essays - 750 words

The Managemetn and Control of Quality - Essay Example A company can improve its cash inflow in the form of profits if Six Sigma is deployed systematically and in right areas. The Six Sigma experts continuously work on reducing the defects in order to reach a situation of zero defects in an organization. Six Sigma is applied in an organization in two methods, the DMAIC (Define, Measure, Analyze, Improve and Control) and the DMADV (Define, Measure, Analyze, Design, Verify) methods. The Six Sigma DMADV approach focuses on the process redesign based on the short falls. The DMADV technique works by developing different alternative models for quality improvement. The DMAIC technique focuses on process improvement in an organization. The DMAIC technique is used in an organization to rejuvenate the least effective process and product. This is focused on improving the future performance on making sufficient improvement in the current activity level. Six Sigma is an approach that is used in all sorts of business and other production areas where q uality improvement is needed. The quality of the Six Sigma approach has made many business entities including GE implement the process. This process includes Define the problem, Measure what you care about, Analyze or Statistically find root causes, Improve or Mobilize change initiatives, and Control or Sustain improvements (DMAIC). In the first phase, teams aim to identify the problems that are related to the business and business satisfaction. Efforts are taken to relate the customer issues with the general business process by the factors of CTQ. In order to get the total result of the process the team establishes project charters, identifies the required resources, and finds the leadership approvals. In the next phase the team identifies the deficiencies of the current process and takes remedial measures. A good understanding of the customer expectations is made possible to establish the out of specification conditions. The characteristic feature of the Six Sigma process of GE is that even the beginners are a ble to meet the challenges of acquiring the concepts and that the time required for complex calculations is made the minimum possible. In the third phase, the root causes of the present defects are identified by the analysis based on which prioritized list of factors influencing the expected result is prepared. For this, various tools like multivariate analysis, test for normality, ANOVA, correlation, and regression etc are made use as the tools. In the next phase, teams seek out best possible solution and build up a plan action to implement the solution. On the basis of the test to confirm the solution, the process is modified and the effect of the result is analyzed. In the final stage, control charting techniques are used in order to improve the current measures. The measures adopted in this stage help to check the possible recurring of the problems. In this stage the approach leads to long term payoffs in quality and monetary terms. The GE employees are trained effectively in th is process and the teams are able to check the business problems applying the concepts of the program to the problem. The competency level that starts from Green Belts is

Principles of Marketing | Dissertation

Principles of Marketing | Dissertation Definition of Marketing Marketing is part of all of our lives and touches us in some way every day. Most people think that marketing is only about the advertising and/or personal selling of goods and services. Advertising and selling, however, are just two of the many marketing activities. In general, marketing activities are all those associated with identifying the particular wants and needs of a target market of customers, and then going about satisfying those customers better than the competitors. This involves doing market research on customers, analyzing their needs, and then making strategic decisions about product design, pricing, promotion and distribution. Philip Kotler says, Marketing is managing profitable customer relationships. The twofold goal of marketing is to attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction. Broadly defined, marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging value with others. Narrowly defined marketing involves building profitable, value-laden exchange relationships with customers. In short, it has been defined as the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. The new definition given by American Marketing Association reads, Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. The marketing process Create value for customers and build customer relationships Capture value from customers in return In the first four steps, companies work to understand consumers, create customer value and build strong customer relationships. In the final step, companies reap the rewards of creating superior customer value. By creating value for customers, they in turn capture value from customers in the form of sales, profits and long term customer equity. Core concepts of marketing Target Markets and Segmentation A marketer can rarely satisfy everyone in a market. Everyone in the market has different taste, likeliness, income and spending habit. Not everyone likes the same soft drink, automobile, college, and movie. Therefore, marketers start with market segmentation. They identify and profile distinct groups of buyers who might prefer or require varying products and marketing mixes. Market segments can be identified by examining demographic, psychographic, and behavioral differences among buyers. The firm then decides which segments present the greatest opportunity—whose needs the firm can meet in a superior fashion. The lucrative segment/s are selected or targeted for offering/selling the product. For each chosen target market, the firm develops a market offering. The offering is positioned in the minds of the target buyers as delivering some central benefit(s). For example, Volvo develops its cars for the target market of buyers for whom auto- mobile safety is a major concern. Volvo , therefore, positions its car as the safest car a customer can buy. Customer Needs, Wants and Demands Needs are the basic human requirements. People need food, air, water, clothing, and shelter to survive. People also have strong needs for creation, education, and entertainment. The above needs become wants when they are directed to specific objects that might satisfy the need. An American needs food but may want a hamburger, French fries, and a soft drink. A person in Mauritius needs food but may want a mango, rice, lentils, and beans. Wants are shaped by ones society. Demands are wants for specific products backed by an ability to pay. Many people want a Mercedes; only a few are able to buy one. Companies must measure not only how many people want their product but also how many would actually be willing and able to buy it. Product or Offering Customers needs and wants are fulfilled through a marketing offer or product. A product is any offering that can satisfy a need or want, such as one of the 10 basic offerings of goods, services, experiences, events, persons, places, properties, organizations, information, and ideas. A brand is an offering from a known source. A brand name such as McDonalds carries many associations in the minds of people: hamburgers, fun, children, fast food, and golden arches. These associations make up the brand image. All companies strive to build a strong, favorable brand image. Value and Satisfaction In terms of marketing, the product or offering will be successful if it delivers value and satisfaction to the target buyer. The buyer chooses between different offerings on the basis of which is perceived to deliver the most value. We define value as a ratio between what the customer gets and what he gives. The customer gets benefits and assumes costs, as shown in this equation: Based on this equation, the marketer can increase the value of the customer offering by (1) raising benefits, (2) reducing costs, (3) raising benefits and reducing costs, (4) raising benefits by more than the raise in costs, or (5) lowering benefits by less than the reduction in costs. Exchange and Transactions Exchange, the core of marketing, involves obtaining a desired product from someone by offering something in return. For exchange potential to exist, five conditions must be satisfied: There are at least two parties. Each party has something that might be of value to the other party. Each party is capable of communication and delivery. Each party is free to accept or reject the exchange offer. Each party believes it is appropriate or desirable to deal with the other party. Whether exchange actually takes place depends upon whether the two parties can agree on terms that will leave them both better off (or at least not worse off) than before. Exchange is a value-creating process because it normally leaves both parties better off. Marketing Mix Marketers use numerous tools to elicit the desired responses from their target markets. These tools constitute a marketing mix. Marketing mix is the set of marketing tools that the firm uses to pursue its marketing objectives in the target market. McCarthy classified these tools into four broad groups that he called the four Ps of marketing: Product, Price, Place, and Promotion. Robert Lauterborn suggested that the sellers four Ps correspond to the customers four Cs. Winning companies are those that meet customer needs economically and conveniently and with effective communication. Marketing Philosophies and Concepts There are five competing concepts under which organizations conduct marketing activities: produc- tion concept, product concept, selling concept, marketing concept, and societal mar- keting concept. The Production Concept The production concept, one of the oldest in business, holds that consumers prefer products that are widely available and inexpensive. Managers of production-oriented businesses concentrate on achieving high production efficiency, low costs, and mass distribution. This orientation makes sense in developing countries, where consumers are more interested in obtaining the product than in its features. It is also used when a company wants to expand the market. Texas Instruments is a leading exponent of this concept. It concentrates on building production volume and upgrading technology in order to bring costs down, leading to lower prices and expansion of the market. This orientation has also been a key strategy of many Japanese companies. The Product Concept Other businesses are guided by the product concept, which holds that consumers favor those products that offer the most quality, performance, or innovative features. Managers in these organizations focus on making superior products and improving them over time, assuming that buyers can appraise quality and performance. Product-oriented companies often design their products with little or no customer input, trusting that their engineers can design exceptional products. A General Motors executive said years ago: How can the public know what kind of car they want until they see what is availablefi GM today asks customers what they value in a car and includes marketing people in the very beginning stages of design. The Selling Concept The selling concept, another common business orientation, holds that consumers and businesses, if left alone, will ordinarily not buy enough of the organizations products. The organization must, therefore, undertake an aggressive selling and promotion effort. This concept assumes that consumers must be coaxed into buying, so the company has a battery of selling and promotion tools to stimulate buying. The selling concept is practiced most aggressively with unsought goods—goods that buyers normally do not think of buying, such as insurance and funeral plots. The selling concept is also practiced in the nonprofit area by fund-raisers, college admissions offices, and political parties. Most firms practice the selling concept when they have overcapacity. Their aim is to sell what they make rather than make what the market wants. The Marketing Concept The marketing concept, in the mid-1950s, challenges the three business orientations we just discussed. The marketing concept holds that the key to achieving organizational goals consists of the company being more effective than its competitors in creating, delivering, and communicating customer value to its chosen target markets. The marketing concept focuses on the needs of the buyer. Marketing is preoccupied with the idea of satisfying the needs of the customer by means of the product and the whole cluster of things associated with creating, delivering and finally consuming it. The marketing concept rests on four pillars: target market, customer needs, integrated marketing, and profitability. The marketing concept takes an outside-in perspective. It starts with a well-defined market, focuses on customer needs, coordinates activities that affect customers, and produces profits by satisfying customers. The Societal Marketing Concept Some have questioned whether the marketing concept is an appropriate philosophy in an age of environmental deterioration, resource shortages, explosive population growth, world hunger and poverty, and neglected social services. Are companies that successfully satisfy consumer wants necessarily acting in the best, long-run interests of consumers and societyfi The marketing concept sidesteps the potential conflicts among consumer wants, consumer interests, and long-run societal welfare. Yet some firms and industries are criticized for satisfying consumer wants at societys expense. Such situations call for a new term that enlarges the marketing concept. We propose calling it the societal marketing concept, which holds that the organizations task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumers and the societys well-being. The societal marketing concept calls upon marketers to build social and ethical considerations into their marketing practices. They must balance and juggle the often confiicting criteria of company profits, consumer want satisfaction, and public interest. Yet a number of companies have achieved notable sales and profit gains by adopting and practicing the societal marketing concept. Marketing vs. Selling Oftentimes, marketing and sales are perceived interchangeably. But in actuality, these are two different things. Selling is a small portion of the entire marketing scheme. Selling is the transaction where a product is transferred from the business owner to a buyer for a price. In contrast, marketing is a process that involves several steps ranging from the generation of a product idea to the delivery of that product to the customer. Even after delivery of the product to the customer, the marketing process continues with direct communication with the customer to obtain feedback about the product. Profits from satisfied customers Theodore Levitt of Harvard drew a perceptive contrast between the selling and marketing concepts: Selling focuses on the needs of the seller; marketing on the needs of the buyer. Selling is preoccupied with the sellers need to convert his product into cash; marketing with the idea of satisfying the needs of the customer by means of the product and the whole cluster of things associated with creating, delivering and finally consuming it. The marketing concept rests on four pillars: target market, customer needs, integrated marketing, and profitability. The selling concept takes an inside-out perspective. It starts with the factory, focuses on existing products, and calls for heavy selling and promoting to produce profitable sales. The marketing concept takes an outside-in perspective. It starts with a well-defined market, focuses on customer needs, coordinates activities that affect customers, and produces profits by satisfying customers. CHAPTER 2 MARKETING ENVIRONMENT In order to correctly identify opportunities and monitor threats, the company must begin with a thorough understanding of the marketing environment in which the firm operates. The marketing environment consists of all the actors and forces outside marketing that affect the marketing managements ability to develop and maintain successful relationships with target customers. A companys marketing environment consists of the actors and forces outside marketing that affect marketing managements ability to develop and maintain successful relationships with its target customers Importance: The marketing environment offers both opportunities and threats Changes in the marketing environment often occur at a rapid pace. Marketers tend to be trend trackers and opportunity seekers. The company must use its marketing research and marketing intelligence systems to monitor the changing environment. A systematic scan of the environment helps marketers to revise and adapt marketing strategies to meet new challenges and opportunities in the market place. The marketing environment is made up of a micro environmental and macro environment. The Companys Microenvironment The micro environment consists of six forces (actors) close to the company that affect its ability to serve its customers: The company itself (including various internal departments) Suppliers. Marketing channel firms (intermediaries) Customer markets. Competitors. Publics. The Company The first actor is the company itself and the role it plays in the microenvironment. Top management is responsible for setting the companys mission, objectives, broad strategies, and policies. Marketing managers must make decisions within the parameters established by top management. Marketing managers must also work closely with other company departments. Areas such as finance, R D, purchasing, manufacturing, and accounting all produce better results when aligned by common objectives and goals. All departments must think consumer if the firm is to be successful. Suppliers Suppliers are firms and individuals that provide the resources needed by the company and its competitors to produce goods and services. They are an important link in the companys overall customer value delivery system. One consideration is to watch supply availability (such as supply shortages). Another point of concern is the monitoring of price trends of key inputs. Marketing Intermediaries Marketing intermediaries are firms that help the company to promote, sell, and distribute its goods to final buyers. Resellers are distribution channel firms that help the company find customers or make sales to them. These include wholesalers and retailers who buy and resell merchandise. Resellers often perform important functions more cheaply than the company can perform itself. Seeking and working with resellers, however, is not easy because of the power that some demand and use. Physical distribution firms help the company to stock and move goods from their points of origin to their destinations. Examples would be warehouses (that store and protect goods before they move to the next destination). Marketing services agencies (such as marketing research firms, advertising agencies, media firms, etc.) help the company target and promote its products to the right markets. Financial intermediaries (such as banks, credit companies, insurance companies, etc.) help finance transactions and insure against risks associated with buying and selling goods. Customers The company must study its customer markets closely because each market has its own special characteristics. These markets normally include: Consumer markets (individuals and households that buy goods and services for personal consumption). Business markets (buy goods and services for further processing or for use in their production process). Reseller markets (buy goods and services in order to resell them at a profit). Government markets (agencies that buy goods and services in order to produce public services or transfer them to those that need them). International markets (buyers of all types, including governments, in foreign countries). Competitors Every company faces a wide range of competitors. A company must secure a strategic advantage over competitors to be successful in the marketplace. No single competitive strategy is best for all companies . Publics A public is any group that has an actual or potential interest in or impact on an organizations ability to achieve its objectives. A company should prepare a marketing plan for all of its major publics as well as its customer markets. Generally, publics can be identified as being: Financial publics. Media publics. Government publics. Citizen-action publics. Local publics. General public. Internal publics. The Companys Macroenvironment The macroenvironment consists of the larger societal forces that affect the microenvironment: Demographic. Economic. Natural. Technological. Political. Cultural The company and all of the other actors operate in a larger macroenvironment of forces that shape opportunities and pose threats to the company. Major forces in the companys macroenvironment include: Demographic Environment Demography is the study of human populations in terms of size, density, location, age, sex, race, occupation, and other statistics. It is of major interest to marketers because it involves people, and people make up markets. Demographic trends are constantly changing. Some of the more interesting trends are: The worlds population (though not all countries) rate is growing at an explosive rate that will soon exceed food supply and ability to adequately service the population. The greatest danger is in the poorest countries where poverty contributes to the difficulties. The most important trend is the changing age structure of the population. Generational marketing is possible, however, caution must be used to avoid generational alienation. Changing family structure Geographic shifts in population will also alter demographics. Changing educational level : In general, the population is becoming better educated. The work force is becoming more white-collar. Products such as books and education services appeal to groups following this trend. Technical skills (such as in computers) will be a must in the future. The final demographic trend is the increasing ethnic and racial diversity . Economic Environment The economic environment includes those factors that affect consumer buying power and spending patterns. Major economic trends include: Changes in income—personal consumption (along with personal debt) has gone up (1980s) and the 1990s brought recession that has caused adjustments both personally and corporately in this country. In the 2000s, consumers are more careful shoppers. Value marketing (trying to offer the consumer greater value for their dollar) is a very serious strategy in the 2000s. Real income is on the rise again but is being carefully guarded by a value-conscious consumer. Income distribution is still very skewed in the United States and all classes have not shared in prosperity. In addition, spending patterns show that food, housing, and transportation still account for the majority of consumer dollars. It is also of note that distribution of income has created a two-tiered market where there are those that are affluent and less affluent. Classes of consumers include: Upper class—spending patterns are not affected by current economic events and who are a major market for luxury goods. Middle class—somewhat careful about its spending but can still afford the good life some of the time. Working class—must stick close to the basics of food, clothing, and shelter and must try hard to save. Under class—(persons on welfare and many retirees) must count their pennies when making even the most basic purchases. Changing consumer spending patterns: Consider Engles Laws where differences were noted over a century ago by Ernst Engle regarding how people shift their spending across food, housing, transportation, health care, and other goods and service categories as family income rises. Spending patterns have generally supported his ideas. Marketers must carefully monitor economic changes so they will be able to prosper with the trend, not suffer from it. Natural Environment The natural environment involves natural resources that are needed as inputs by marketers or that are affected by marketing activities. During the past two decades environmental concerns have steadily grown. Some trend analysts labeled the 1990s as the Earth Decade, where protection of the natural environment became a major worldwide issue facing business and the public. Specific areas of concern were: Shortages of raw materials. Staples such as air, water, and wood products have been seriously damaged and non-renewable such as oil, coal, and various minerals have been seriously depleted during industrial expansion. Increased pollution is a worldwide problem. Industrial damage to the environment is very serious. Far-sighted companies are becoming environmentally friendly and are producing environmentally safe and recyclable or biodegradable goods. The public response to these companies is encouraging. Government intervention in natural resource management has caused environmental concerns to be more practical and necessary in business and industry. Leadership, not punishment, seems to be the best policy for long term results. Instead of opposing regulation, marketers should help develop solutions to the material and energy problems facing the world. Concern for the natural environment has spawned the so-called green movement. Environmentally sustainable strategies and practices are being created. Companies are recognizing a link between a healthy economy and a healthy ecology. Technological Environment The technological environment includes forces that create new technologies, creating new product and market opportunities. Technology is perhaps the most dramatic force shaping our destiny. New technologies create new markets and opportunities. Every new technology, however, replaces an older technology. The challenge is not only technical but also commercial—to make practical, affordable versions of products. Political Environment The political environment includes laws, government agencies, and pressure groups that influence and limit various organizations and individuals in a given society. Business is regulated by various forms of legislation. Governments develop public policy to guide commerce—sets of laws and regulations limiting business for the good of society as a whole. Almost every marketing activity is subject to a wide range of laws and regulations. Some trends in the political environment include: Increasing legislation to: Protect companies from each other. Protecting consumers from unfair business practices. Protecting interests of society against unrestrained business behavior. Changing government agency enforcement. New laws and their enforcement will continue or increase. Increased emphasis on ethics and socially responsible actions. Socially responsible firms actively seek out ways to protect the long-run interests of their consumers and the environment. The recent rash of business scandals and increased concerns about the environment have created fresh interest in the issues of ethics and social responsibility. The boom in e-commerce and Internet marketing has created a new set of social and ethical issues. Privacy issues are the primary concern. Another cyberspace concern is that of access by vulnerable or unauthorized groups. Cultural Environment The cultural environment is made up of institutions and other forces that affect societys basic values, perceptions, and behaviors. Certain cultural characteristics can affect marketing decision-making. Among the most dynamic cultural char- acterisitics are: Persistence of cultural values. Peoples core beliefs and values have a high degree of persistence. Core beliefs and values are passed on from parents to children and are reinforced by schools, churches, business, and government. Secondary beliefs and values are more open to change. Shifts in secondary cultural values. Because secondary cultural values and beliefs are open to change, marketers want to spot them and be able to capitalize on the change potential. The Yankelovich Monitor has identified eight major consumer themes: Paradox. Trust not. Go it alone. Smarts really count. No sacrifices. Stress hard to beat. Reciprocity is the way to go. Me 2. Societys major cultural views are expressed in: Peoples views of themselves. People vary in their emphasis on serving themselves versus serving others.. Peoples views of others. Observers have noted a shift from a me-society to a we-society. Consumers are spending more on products and services that will improve their lives rather than their image. Peoples views of organizations. People are willing to work for large organizations but expect them to become increasingly socially responsible. Many companies are linking themselves to worthwhile causes. Peoples views of society. This orientation influences consumption patterns. Buy American versus buying abroad is an issue that will continue into the next decade. Peoples view of nature. There is a growing trend toward peoples feeling of mastery over nature through technology and the belief that nature is bountiful. Nature, however, is finite. Love of nature and sports associated with nature are expected to be significant trends in the next several years. Peoples views of the universe. Studies of the origin of man, religion, and thought-provoking ad campaigns are on the rise. Spiritual individualism may be a new theme. Chapter 3 Marketing segmentation Market Segmentation It is the process of dividing a market into distinct group of buyers who have distinct needs, characteristics or behavior and who might require separate product or marketing mixes. Market segment A group of consumers who respond in a similar way to a given set of marketing efforts. For Example: In the car market, consumers who want the biggest, most comfortable car regardless of the price make up one market segment. Consumers who care mainly about price and operating economy make up another segment. Requirements of Market Segments In addition to having different needs, for segments to be practical they should be evaluated against the following criteria: Identifiable: the differentiating attributes of the segments must be measurable so that they can be identified. Accessible: the segments must be reachable through communication and distribution channels. Substantial: the segments should be sufficiently large to justify the resources required to target them. Unique needs: to justify separate offerings, the segments must respond differently to the different marketing mixes. Durable: the segments should be relatively stable to minimize the cost of frequent changes. A good market segmentation will result in segment members that are internally homogenous and externally heterogeneous; that is, as similar as possible within the segment, and as different as possible between segments. Bases for Segmentation in Consumer Markets Consumer markets can be segmented on the following customer characteristics. Geographic Demographic Psychographic Behavioral Geographic Segmentation The following are some examples of geographic variables often used in segmentation. Region: by continent, country, state, or even neighborhood Size of metropolitan area: segmented according to size of population Population density: often classified as urban, suburban, or rural Climate: according to weather patterns common to certain geographic regions Demographic Segmentation Some demographic segmentation variables include: Age Gender Family size Family lifecycle Generation: baby-boomers, Generation X, etc. Income Occupation Education Ethnicity Nationality Religion Social class Many of these variables have standard categories for their values. For example, family lifecycle often is expressed as bachelor, married with no children (DINKS: Double Income, No Kids), full-nest, empty-nest, or solitary survivor. Some of these categories have several stages, for example, full-nest I, II, or III depending on the age of the c