Marketing An Introduction Essay Example

Marketing An Introduction Essay * MARKETING is the management process involved in identifying, anticipating and satisfying consumer requirements profitably. * Remember that marketing is not simply advertising or selling, in fact selling or Advertising are just one of the many marketing aspects or functions. * Marketing is a process. It does not have a start or and end but is ongoing all the time. * It is not just a series of activities, but a way of thinking about how to satisfy consumer needs in a way that it would be profitable to the business. We will write a custom essay sample on Marketing An Introduction specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Marketing An Introduction specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Marketing An Introduction specifically for you FOR ONLY $16.38 $13.9/page Hire Writer * It affects all aspects of the business, such as the production department, the personnel, as well as any pricing decisions that would have to be made. * Lastly since consumers are vital to the business, finding out what they need or want through marketing research is very important. Subsequently, businesses are more and more involved in building relationships with consumers (relationship marketing) to create a loyalty towards the company. For ex. Tesco strongly stresses on this. IMPORTANCE OF MARKETING TO A BUSINESS- A BRIEF * Economic growth has led to an increase in demand for products and services. Therefore if the business wants to gain a share in the growing market and increase profitability, it MUST insure a successful marketing strategy. * Rapid changes in fashions, tastes, lifestyles means that businesses must ANTICIPATE and respond to these changes. For ex. Toy manufacturers try to foresee the next craze that would come up (shorter life cycles). * Changes in technology mean that marketing and production departments now have to work closely together to anticipate new opportunities that may arise. For ex. Marketing media now used by firms include electronic billboards or satellite TV. * Competition is nothing new but the scale of it is. For ex. Japanese goods have become very competitive in UK markets. This means that expenditure on marketing has to increase. PRODUCT ORIENTATION * A Product oriented business means that it focuses on the production process and the product itself. They assume that the products will self itself. * Take the ex. Of the Concorde aircraft project. It was an absolutely new invention, and the developers assumed that the aircraft would sell itself. However this was not the case, because although the project was technically a success, its failure to take into account the needs of the market meant that it was not a commercial success. * Product oriented businesses thus place their emphasis on developing the product, and then selling it without much contact with the consumers. * A Pure research has to be carried out in contrast to an Applied research. A pure research is one where the researcher does not have a specific end product in mind. An applied research is when the search is based on a particular goal or purpose. MARKET ORIENTATION * A market oriented business is one that is led by the market i.e. the starting point is the market itself and consumer needs and wants are central to the businesss decision making. * For ex. The Sony Walkman is a product developed in response to the wishes of the consumers. * In COMPARISON to a product oriented business a market-oriented business can: (a) Respond more quickly to changes in the market. (b) Will be in a stronger position to meet the challenge of competition. (c) More chances of a successful product commercially. * Market oriented businesses make what they can sell; where as product oriented businesses try to sell what they make. Similarly while in market orientation plans are determined by customer needs, product oriented businesses are of the attitude that consumers should be glad that we exist 🙂 * Lastly market oriented businesses must produce the right product at the right price and in the right place and it must let the consumers know that it is available. This is known as the marketing mix. FACTORS AFFECTING CHOICE OF ORIENTATION * Whether a business will be market oriented or product oriented will depend on a number of factors such as: (a) The nature of the product: if it is working in an innovative market, like pharmaceuticals or electronics, it must innovate to survive. (b) The objectives of the business and its policy: where objectives are to increase market share or turnover, the emphasis would be on marketing. (c) The nature and size of the market: in a small competitive market a business is likely to take into account consumer needs. (d) The degree of competition: competitive markets are likely to spend more on marketing for fear of losing their share of the market. ASSET-BASED MARKETING * Asset based marketing is where a business develops those goods or services that make the best use of its major strengths or assets i.e. concentrating on what the business is good at while still taking into account the needs of the market. * For ex. Producing new products that are related to successful existing products. (Ice cream versions of best selling chocolate bars like mars or bounty: P) SALES ORIENTED MARKETING * Sales oriented businesses focus on simply increasing the number of sales, even if by doing so it hampers consumer satisfaction. For ex. The sale of Mobile phones such as the Ufone at really low prices. * The business hires sales persons that are paid a commission on every sale that they make. Consequently the sales persons are interested in making the largest amount of sales irrespective of consumer satisfaction. MARKET RESEARCH ; Marketing research can be defined as the collection, collation and analysis of data relating to the marketing and consumption of goods and services. For ex. This data may include whether or not there is a NEED for a product, the style shape form that it should have, the functions it should provide etc. ; This data would be used: (a) To identify what is happening in the market (descriptive reasons) (b) To predict what may happen in the future (predictive reasons) (c) To explain a variety of matters or problems linked to its marketing (explanatory reasons) (d) To investigate and explore any new opportunities in a market (exploratory reasons) ; There are two types of marketing research that a business may opt for: 1. DESK RESEARCH 2. FIELD RESEARCH DESK RESEARCH ; Involves the use of secondary data. This is information, which already exists in some form. There are internal and external sources of secondary data. ; INTERNAL SOURCES would be: (a) Existing market research reports, (b) Reports from sales representatives who are in direct contact with customers, (c) Annual report and accounts published by the business, (d) Internet data where businesses plan websites that give up to date information, (e) Stock movements provide the most up to date information on patterns of demand in the market. This is because as apposed to sales figures, they are recorded instantly. ; EXTERNAL SOURCES would include: (a) Information from competitors: in the form of promotional material, price lists etc. (b) Data from customer services or complaints, (c) Retail audits: Epos (electronic points of sale) record instant sales in retail outlets. This provides the business with a continuous monitoring of their performance in the market. For ex. Weekly music charts. (d) Government publications such as social trends, (e) International publications published by organizations such as the World Bank or the IMF. (f) General or commercial publications such as newspapers and magazines, (g) And lastly research centers. ; The main advantage of secondary data is that it has already been collected and is therefore available at very little or no cost. It is quicker to obtain and it is usually easier for firms to establish trends. ; However the main disadvantage is that the data is not in the form that the business may require, since it has been collected for a different purpose. So it has to be adapted by the business before it can be made useful. FIELD RESEARCH ; Involves collecting Primary data. This is information, which does not already exist. The research can be carried out by the firm itself or by a market research agency. ; The main advantage is that the firm, which initially collects it, will be the only organization with access to it. This means that it will have marketing advantages over its rival firms. Also since it is for their own purpose it will be in a form the firm would want. ; The main disadvantage of field research is that it is extremely expensive and requires specialist researchers. It is consequently very time consuming also. ; METHODS OF A FIELD RESEARCH: (a) Questionnaires (b) Personal interviews (c) Telephone interviews (d) Postal surveys (e) Observation (f) Use of technology (g) Focus groups (h) Consumer panels (i) Test marketing QUESTIONNAIRES: ; Personal interviews, telephone interviews and postal surveys all involve the use of questionnaires. ; There are certain considerations that have to be made while designing the questionnaire. (a) A balance between close and open questions: close questions are specific, for ex. How many products have u brought in the last month, they only allow the interviewee a limited range of responses. Open questions allow a larger scope of responses and give room to suggestions and strategies for improvement. For ex. Suggest how the product could be improved. (b) The clarity of questions: the questions should be very clear and not ambiguous and confusing. Technical language should not be used. (c) The use of leading questions: leading questions are those, which encourage a particular answer. For ex. A researcher investigating the soft drinks market should avoid the question Do you think Diet Pepsi is never than Diet Coke? a better questions would be Which brand diet cola do you prefer- Pepsi or Coke? (d) Initially clarify the purpose of the enquiry and then follow a logical sequence in questions. Avoid questions on topics which respondents would be reluctant to answer or which tax the memory too much. Lastly introduce some control questions perhaps. PERSONAL INTERVIEWS: This involves interviewer obtaining information from one person at a time, face-to-face. The advantages are: (a) The method is flexible, (b) Visual material and observation of reactions is possible, (c) Allows interviewee a chance to give detailed responses and there is time and scope for answers to be discussed, (d) Difficult questions can be explained by the interviewer, The disadvantages are: (a) Very time consuming (b) Rely on the skill of the interviewer: the interviewer may be biased and may influence the responses of the interviewees by appearing negative (c) Respondent can also be biased, e.g. false answers given to impress the interviewer. (d) It is difficult to sample a scattered population. TELEPHONE INTERVIEWS: This method allows interviews to be held over the telephone. Advantages are: (a) Cheaper than personal interviews (b) Allows a wide geographical area to be covered Disadvantages are: (a) Often distrusted by the people (b) It is only possible to ask short or closed questions (c) Biased because it excludes those without phones or not in the directory. POSTAL SURVEY: Involves the use of questionnaires sent to consumers through post. Advantages are: (a) Relatively cheap (b) No interviewer biased (c) A wide geographical area can be covered Disadvantages are: (a) The response rate is very poor and responses can be delayed. (b) Questions have to be short, so detailed questioning is not possible. (c) Questionnaires have to be exceptionally well designed and easy to understand. OBSERVATION: Observation involves watching consumers in retail stores. Observers look out for the amount of time consumers spend making decisions or how readily they notice a particular display. Advantages are: (a) A tremendous number of consumers can be surveyed in a relatively short span of time. (b) Relatively very cheap Disadvantage is: (a) Observation alone leaves many questions unanswered. For ex. It may reveal that a particular display at a retail outlet is unpopular but provide no clues as to why this is the case. USE OF TECHONOLOGY: Technology has developed many new ways in which businesses can carry out marketing research. (a) Information is gathered from electronic points of sale (Epos) which give details of items brought, the time as well as the date of purchase. (b) Video installation in retail stores: some even count the number of customers entering a shop and some differentiate between adults, children and pushchairs! (c) Interactive methods: consumers may be able to express their views through Internet websites. (d) Credit cards or loyalty cards could indicate spending patterns of consumers. FOCUS GROUPS: This involves a group of consumers being brought together on one or a number of occasions. They are asked to answer and discuss questions that are prepared by market researchers. This group is thought to be a representative of all the customers of the business. Advantages are: (a) Relatively cheap (b) An easy, simple way of gathering information Disadvantage is: (a) The views of a small number of customers may not reflect the views of the entire market the business is interested in. CONSUMER PANELS: This involves a group of consumers being consulted on their reactions to a product over a period of time. TV companies widely use consumer panels to access consumer reactions to new programs. Advantages are: (a) Panel members know the procedure and so time is saved, (b) Consumer panels can be used to consider how consumer reaction changes over time. (c) Consequently a picture of consumer trends can be build. Disadvantages are: (a) Panel members tend to be atypical (b) Panel sophistication can develop (c) It is both difficult and expensive to choose and keep a panel available for research over a long period. TEST MARKETING: Involves selling a product in a restricted section of the market in order to assess consumer reaction to it before making it available to the entire market. SAMPLING: The most accurate way to do the research would be to carry out the survey of every single potential consumer of a firms product and is known as the Population. This survey is called a consensus. This is of course, impractical, expensive, and time consuming. Thus a Sample of the population is taken. This sample group is made up of consumers that are thought to be representatives of the entire potential buyers of the product (the population). This reduces costs, saves time, and requires fewer resources. First of all a business needs a sample frame a list of people from which the sample will be chosen. The sampling methods (the way in which people are selected) can be divided broadly into two categories: RANDOM OR QUASI RANDOM METHODS: NON RANDOM METHODS: (a) Simple random sample (a) Quota sample (b) Systematic sample (b) Cluster sample (c) Route random sample (c) Multi stage sample (d) Stratified sample (d) Snowballing SIMPLE RANDOM SAMPLE: The sample is selected at random, rather like picking numbers out of a hat. In this way each member of the group has an equal chance of being chosen. The main advantage is that bias cannot be introduced when choosing the sample. However, firstly, it assumes that all members are homogenous and secondly, it requires an up to date list of the whole population, which would be very costly and time consuming. SYSTEMATIC SAMPLE: This involves choosing a starting point in a sample frame and then selecting every nth item thereafter. For ex. Choosing every tenth or twentieth name on a list. This is not fully random and will produce bias if there is a regular recurring pattern in the frame. STRATIFIED RANDOM SAMPLE: With this method the population is divided into segments or sub-groups, stratas. A random sample is then chosen from each of these groups making sure that there were the same proportions of the sample in each category as in the population as a whole. Say if the population had 10% lower class females, so would the sample. This method is seen as quasi-random. QUOTA SAMPLE: Like a stratified sample this method involves dividing the population into a number of groups, which share specific characteristics. This may be based on the age, sex, and income of the population. Unlike stratified sampling the selection of individuals from each group is made on a non-random bases. In this case, interviewers are given targets for the number of people out of each segment who they must interview. For ex. An interviewer may be asked to interview 10 males between the age of 20 and 30. Once this target is reached, no more people are interviewed from that group. The quota method is relatively quick and cheaper to operate and can be used when a sample frame is not available. However, results from quota sampling are not statistically representative of the population and are not randomly chosen. CLUSTER SAMPLE: This involves making a random selection from a frame listing not individuals but groups of individuals called clusters-usually in different geographical areas. This method is used when the population is widely dispersed and a full sample frame is not available. It is also used when survey results need to be found quickly such as opinion polls. MULTI STAGE SAMPLE: This involves selecting one sample from another sample-so that a series of samples are taken at successive stages, e.g. a region, then a town, then a suburb, and then a street. It is used when groups selected in a cluster sample are too large, with the result that a sub-sample has to be selected from each group. SNOWBALLING: This is a highly specialized method of sampling. It involves starting the process of sampling with one individual or group, and then using their personal contacts to develop more and more-hence the snowball effect. One must realize that samples built up by snowballing cannot be representative of the population. Therefore they are only used when no other method is possible! Firms engaged in producing highly specialized one off products might use this method for a very limited range of consumers. THE RESEARCH PROCESS The first step towards market research is identifying a research objective; clarifying what type of information, for what reason, and why it is required. Therefore the research project begins with a statement of research objectives. Before a business collects primary data by undertaking expensive field research, it should first review secondary data by means of desk research. If it opts for field research, it should then chose the method or technique for collection of primary data. In making this choice consideration should be given to relative costs, the type pf people to be investigated, and the degree of accuracy required. Naturally there is no point in undertaking research if the costs exceed the benefits to the firm. The third step is to decide on the details of the research technique opted. For ex. The formulation of questionnaires or deciding on sampling methods etc. Fourthly once the data is collected it has to be analyzed, interpreted, and evaluated. The final part of the research project consists of recommending the strategy to be pursued in relation to the product and the marketing effort. PROBLEMS OF MARKET RESEARCH If marketing research were totally dependable, this would mean that products launched onto the market would never fail! In reality, 90% of all products fail after they have been initially launched. Some of this, no doubt, can be put down to a lack of, or inadequate market research. However, a number of businesses have conducted extensive market research and still have launched products, which eventually fail. For ex. When coca cola launched New Coke onto the market, research suggested it would be a huge success. In practice, New Cole was quickly withdrawn from the shops! PRIMARY DATA: there are a number of reasons why field research does not always provide reliable information to businesses. (a) All HUMAN BEHAVIOR is unpredictable. Therefore the responses of consumers who participate in the collection of primary data may chance from time to time. (b) SAMPLING ERROR refers to the difference between the estimated statistic obtained from the sample and the true figure of the population. Sampling errors, which arise because of the failure of the sample to accurately represent the population from which it is chose, are caused by: (I) The use of an incomplete or out of date sampling frame, (II) Sampling discrepancies: The results from the sample may be different from those obtained if the whole population had been questioned. (III) The sample is not large enough (statistical bias). (IV) The method of sample that is chosen; random sampling introduces little or no bias because each member of the population has an equal chance of being selected. (V) Non-responses from those chosen. (c) NON SAMPLING ERRORS are caused not by the process of sampling but by the design of the survey and in the way it is carried out. Discrepancies can be caused by: (I) The construction of questionnaires has to be done very carefully. (II) The behavior of interviewers can affect the outcome of interviews. (III) Data collation and presentation can affect the final conclusions. (IV) Date analysis (e.g. confusing cause and effect). SECONDARY DATA: Businesses must also be careful when using secondary data. Firstly the data has to be correctly adapted for the use of the business. Secondly, external and internal business publications become out of date almost as soon as they go into print! In todays fast changing markets this can greatly reduce the reliability of data. Also there could be problems of interpretation, or the coverage may be inappropriate. BENEFITS OF MARKET RESEARCH An aid to decision making- marketing research allows a business to make more informed decisions, especially in fast changing markets of today. Reducing risk- businesses are less likely to waste resources on failed activities if careful market research is carried out. Although the reliability of market research cannot be guaranteed, as we discussed earlier, it does reduce chances of failure and risk. Links with the outside world- businesses do not operate in a vacuum. Without market research they would have no way of finding out what consumers want, their reaction to particular products, and future trends and tastes of the market. To become more competitive- as markets become ever larger and competition is poured in, marketing research becomes even more important. Businesses need to find out the large differences in tastes of millions of consumers and the activities of their competitors. Public relations- carrying out market research may be good for the image of the business. Consumers may feel that their views are being considered. This may lead to corporate brand loyalty. MARKET SEGMENTATION AND CONSUMER BEHAVIOR * Breaking down the market into sub-groups with similar characteristics is known as Market Segmentation. A business can then target these groups and develop products and services for each of them. * SEGMENTATION BY AGE: examples include marketing for financial services for older people, development of retirement housing. * SEGMENTATION BY GENDER: examples include car producers have targeted women in their promotional campaigns, manufacturer of perfumes, designer brands like Armani and saint Laurent as well as many sports companies. * SEGMENTATION BY SOCIAL CLASS: classes are usually based on employment status and conditions. This division is usually used in government reports and surveys. Examples include restaurants, leisure activities, and holiday packages. * SEGMENTATION BY ETHNIC GROUPS: Markets can be segmented by country of origin or ethnic grouping. Examples include books, food, television programs, and clothes. * SEGMENTATION BY FAMILY CHARACTERISTICS: examples include newspapers, like The Guardian aimed at labor or liberal democrat voters. * SEGEMENTATION BY GEOGRAPHICAL REGION: examples include sports products, and extreme sports such as ski boarding, and clothing. USES OF MARKET SEGMENTATION * It is hoped that segmentation would help gain greater knowledge about customers and their needs. * It allows firms to target particular groups with particular products. * It helps to prevent promotion of products to the wrong people, which would lead to a waste of resources. * Identification of these groups is important for creating brands and understanding why brand switching occurs. * Eventually it is hoped that the information would allow greater demand overall and perhaps increased profitability. TARGETING THE MARKET * As I just mentioned that one of the uses of segmentation is that it allows firms to target particular groups. That is precisely what we are going to discuss now. Hmm * Should the firm target a particular segment or attempt to sell to all consumers? Three segmentation strategies can be identified. * UNDIFFERENTIATED MARKETING: is like a shotgun with most of the shot going astray! It ignores the existence of segments and offers a single mix to the heterogeneous market. This failure to target is likely to result in disappointing sales! However this strategy is likely to suit those products, which cannot easily be differentiated amongst groups of people. For ex. Milk was previously marketed in an undifferentiated way. Today, milk is differentiated according to its fat level; skimmed, semi-skimmed as well as the sources it comes from, cows, goats and Soya. * In CONCENTRATED MARKETING a particular segment is targeted. The marketing mix is in absolute accordance with that particular segment. Like a high-powered rifle the product is not available to people outside the target segment. OR in other cases the product is available to all, even though firms expect only its target group to purchase the goods (usually in the case of small firms). * In DIFFERENTIATED MARKETING a separate marketing mix is developed for each segment of the market. For ex. Banks have different types of accounts designed for teenagers, students and others geared up to the needs of retired couples. This strategy is very costly and therefore only available to large firms.

Common Spelling and Grammar Errors Should You Use Its or Its

Common Spelling and Grammar Errors Should You Use Its or Its According to the readers of my blog, the distinction between it’s (with an apostrophe) and its (without an apostrophe) is the top pet peeve and common error out in the writing world. This article attempts to explain the distinction between the two words and when to use its or its. It’s is a contraction. Most of us have heard of and are familiar with contractions. Here’s how they work: If you want to say â€Å"here is† and be less formal about it, squash the words together and substitute an apostrophe for the last vowel (i) to create heres.   If you want to say â€Å"do not† less formally, squash the words together and substitute an apostrophe for the last vowel (o) to create dont. This process of contraction is how we get many words such as: can’t; doesn’t; aren’t; there’s; and (drumroll please)†¦ it’s! How simple is that? If you want your word to mean â€Å"it is† or â€Å"it has† then just make a contraction: it’s. Examples: It is time for bed. = It’s time for bed. It is a girl! = It’s a girl! It has been raining for days. = It’s been raining for days. These examples seem simple enough. I think where people get flummoxed is when they want a word meaning â€Å"belonging to ‘it.’† â€Å"Its† is possessive. Why is this one confusing? When something belongs to Harry we add an apostrophe after Harry and say it’s Harrys. When something belongs to the barber we add an apostrophe and say it’s the barbers. However, when it comes to saying something belongs to it, the apostrophic form goes out the window, i.e. we do NOT use an apostrophe. Something belonging to it is its. Why is there no apostrophe in its? Note there are other times we do not use an apostrophe to show possession. When something belongs to her we say it’s hers. When something belongs to him we say it’s his; when something belongs to us we say it’s ours and when something belongs to them we say it’s theirs. There are many irregular constructions here. Yet somehow most people don’t make mistakes when it comes to these other possessive forms. It’s its that continues to baffle us. You might notice something in common about all the examples where apostrophes are not used to show possession: they are all a part of speech we refer to as a pronoun. Pronouns are our shortcuts so that we do not have to keep referring to people and things by their name or other descriptor. They are a referential shortcut. They replace, or substitute for, nouns. I will write more about pronouns in a future article where I will talk about the use of â€Å"I and â€Å"me.† For now you can look at  the University of Ottawa’s Writing Center grammar page under What Is a Pronoun?, for more information. Some examples of pronouns are he, she, they, you, her, him, us, our, their and its. Here’s your rule to remember: When forming a possessive PRONOUN, do NOT use an apostrophe. Since â€Å"it† is a pronoun, we do NOT put an apostrophe after it to make it possessive. Just as you would not write â€Å"her’s† or â€Å"our’s,† do not write â€Å"it’s† when you are intending to show possession. Another trick is to remember the phrase Its raining apostrophes! This sentence means It is raining apostrophes, so you can remember that when you mean it is, you should use its, with an apostrophe. It’s my fervent hope this article has cleared up some common misperceptions and that its contents will be distributed widely by its readers! If you or someone you know needs writing or editing assistance, contact The Essay Expert. We can help clear up any apostrophe problems youre having.

Phases of Capitalism - Mercantile, Classical and Keynesian

Phases of Capitalism - Mercantile, Classical and Keynesian Most people today are familiar with the term capitalism and what it means. But did you know that it has existed for over 700 years? Capitalism today is a much different economic system than it was when it debuted in Europe in the 14th century. In fact, the system of capitalism has gone through three distinct epochs, beginning with mercantile, moving on to classical (or competitive), and then evolving into Keynesianism or state capitalism in the 20th century before it would morph once more into the global capitalism we know today. The Beginning: Mercantile Capitalism, 14th-18th centuries According to Giovanni Arrighi, an Italian sociologist, capitalism first emerged in its mercantile form during the 14th century. It was a system of trade developed by Italian traders who wished to increase their profits by evading local markets. This new system of trade was limited until growing European powers started to profit from long-distance trade, as they began the process of colonial expansion. For this reason, American sociologist William I. Robinson dates the beginning of mercantile capitalism at Columbus’s arrival in the Americas in 1492. Either way, at this time, capitalism was a system of trading goods outside of one’s immediate local market in order to increase profit for the traders. It was the rise of the â€Å"middle man.† It was also the creation of the seeds of the corporation- the joint stock companies used to broker the trade in goods, like the British East India Company. Some of the first stock exchanges and banks were created during this per iod as well, in order to manage this new system of trade. As time passed and European powers like the Dutch, French, and Spanish rose to prominence, the mercantile period was marked by their seizure of the control of trade in goods, people (as slaves), and resources previously controlled by others. They also, through colonization projects, shifted production of crops to colonized lands and profited off of enslaved and wage-slave labor. The Atlantic Triangle Trade, which moved goods and people between Africa, the Americas, and Europe, thrived during this period. It is an exemplar of mercantile capitalism in action. This first epoch of capitalism was disrupted by those whose ability to accumulate wealth was limited by the tight grasp of the ruling monarchies and aristocracies. The American, French, and  Haitian Revolutions  altered systems of trade, and the Industrial Revolution significantly altered the means and relations of production. Together, these changes ushered in a new epoch of capitalism. The Second Epoch: Classical (or Competitive) Capitalism, 19th century Classical capitalism is the form we are probably thinking of when we think about what capitalism is and how it operates. It was during this epoch that Karl Marx studied and critiqued the system, which is part of what makes this version stick in our minds. Following the political and technological revolutions mentioned above, a massive reorganization of society took place. The bourgeoisie class, owners of the means of production, rose to power within newly formed nation-states and a vast class of workers left rural lives to staff the factories that were now producing goods in a mechanized way. This epoch of capitalism was characterized by free market ideology, which holds that the market should be left to sort itself out without intervention from governments. It was also characterized by new machine technologies used to produce goods, and the creation of distinct roles played by workers within a compartmentalized division of labor. The British dominated this epoch with the  expansion of their colonial empire, which brought raw materials from its colonies around the world into its factories in the UK at low cost. For example, sociologist John Talbot, who has studied the coffee trade throughout time, notes that British capitalists invested their accumulated wealth in developing cultivation, extraction, and transportation infrastructure throughout Latin America, which fostered a huge increase in flows of raw materials to British factories. Much of the labor used in these processes in Latin America during this time was coerced, enslaved, or paid very low wages, notably in Brazil, where slavery was not abolished until 1888. During this period, unrest among the working classes in the U.S., in the UK, and throughout colonized lands was common, due to low wages and poor working conditions. Upton Sinclair infamously depicted these conditions in his novel, The Jungle. The U.S. labor movement took shape during this epoch of capitalism. Philanthropy also emerged during this time, as a way for those made wealthy by capitalism to redistribute wealth to those who were exploited by the system. The Third Epoch: Keynesian or New Deal Capitalism As the 20th century dawned, the U.S.  and nation states within Western Europe were firmly established as sovereign states with distinct economies bounded by their national borders. The second epoch of capitalism, what we call â€Å"classical† or â€Å"competitive,† was ruled by free-market ideology and the belief that competition between firms and nations was best for all, and was the right way for the economy to operate. However,  following the stock market crash of 1929, free-market ideology and its core principles were abandoned by heads of state, CEOs, and leaders in banking and finance. A new era of state intervention in the economy was born, which characterized the third epoch of capitalism. The goals of state intervention were to protect national industries from overseas competition, and to foster the growth of national corporations through state investment in social welfare programs and infrastructure. This new approach to managing the economy was known as â€Å"Keynesianism,† and based on the theory of British economist  John Maynard Keynes, published in 1936. Keynes argued that the economy was suffering from inadequate demand for goods, and that the only way to remedy that was to stabilize the populace so that they could consume. The forms of state intervention taken by the U.S. through legislation and program creation during this period were known collectively as the â€Å"New Deal,† and included, among many others, social welfare programs like Social Security, regulatory bodies like the United States Housing Authority and Farm Security Administration, legislation like the Fair Labor Standards Act of 1938 (which put a legal cap on weekly work hours  and set a minimum wage), and lending bodies like Fannie Mae that subsidized home mortgages. The New Deal also created jobs for unemployed individuals and put stagnant production facilities to work with federal progr ams like the  Works Progress Administration.   The New Deal included regulation of financial institutions, the most notable of which was the  Glass-Steagall Act of 1933, and increased rates of taxes on very wealthy individuals, and on corporate profits. The Keynesian model adopted in the U.S., combined with the production boom created by World War II, fostered a period of economic growth and accumulation for U.S. corporations that set the U.S. on course to be the global economic power during this epoch of capitalism. This rise to power was fueled by technological innovations, like radio, and later, television, that allowed for mass mediated advertising to create demand for consumer goods. Advertisers began selling a lifestyle that could be achieved through consumption of goods, which marks an important turning point in the history of capitalism:  the emergence of consumerism, or consumption as a way of life. The U.S. economic boom of capitalism’s third epoch faltered in the 1970s for several complex reasons, which we won’t elaborate here. The plan hatched in response to this economic recession  by U.S. political leaders, and heads of corporation and finance, was a neoliberal plan premised on undoing much of the regulation and social welfare programs created in the previous decades. This plan and its enactment created the conditions for the globalization of capitalism, and led into the fourth and current epoch of capitalism.

Answer questions Research Paper Example | Topics and Well Written Essays - 500 words

Answer questions - Research Paper Example This has happened with Orkut before, though Facebook is too big to be waived any time soon. Ans. Convergence means the continuity of content across a range of media platforms; the exchange, cooperation, and interaction among multiple industries of media, and the media audiences’ migratory behavior in terms of their tendency to move anywhere to attain the entertainment experiences desired by them. As a consumer, I have experienced convergence as the flow of media content across borders, the competing media economies, and media systems. Global coverage of CNN and localization of Sesame Street are some of its examples. Ans. Digital media will grow both in features and consumption in the future. Expansion of digital media will provide the users with increased connectivity and more social interaction. New models of mobile phones and Ipads with new apps and software will play a cardinal role in the growth and expansion of digital media. Improvement in the life and usage of digital media is also anticipated e.g. increased battery life of digital gadgets, as the competition among the producers of such gadgets increases. Ans. This view of the future motivates me to gain a firm understanding of and expertise in the use of the various types of digital media, irrespective of whatever profession I eventually decide to pursue. The use of and dependency upon digital media of all professions is anticipated to increase in the future, be it engineering, medical sciences, or any other kind of business. In the times when newer versions of software, apps, and digital media surface very frequently, one needs to be constantly updated and modify one’s skills accordingly. Ans. If my view of the future is accurate, I would not only need strong computer skills, but also strong interpersonal skills. One thing advancement of technology and revolution of digital media particularly focuses upon is increased social networking.

Mind-Body Problem Summary Essay Example | Topics and Well Written Essays - 500 words

Mind-Body Problem Summary - Essay Example Descartes discussed mind-body issue in the different dimension that came to be known as dualism in the philosophical arena. The approach of ‘mechanical philosophy’ began emerging during the 17th century that was based on the premise that objects interact through direct contact; however, Descartes tended to emphasize that language did not lie within the realms of mechanism. For him, thought process was a separate entity distinct from the physical body. Newton argued that planetary and terrestrial motion in the universe did not follow the mechanical philosophy. He essentially wanted to convey that anti-materialist things did exist in this universe. Newtons assertion of mysterious force, curved space, electrical force goes beyond the concept of body or matter entirely. While quantum theory in physics and chemical bonding in chemistry helps explaining a unified universe, does this mean that mind/brain as a unified object can best explain the language and mind phenomena in humans? Many attempts to reduce mental properties to neural network phenomena; however, that lead to several serious questions. Considerable efforts have been made to show that mind is nothing but matter, and language thought processes are properties of brain. It is the neurophysiological activities of brain that causes mental phenomena. Naturalism or materialism, as a theory, got resurgence in the 1960s attempting to establish the belief that mental state was, in no way, different than physical entities. That is to say matter is as compatible with thought and sensation as with attraction and repulsion. Organized system of matter known as brain eventually lead to perception and thought process. In a way, emergence of thoughts in humans is all through nervous system of brain. Brain acts as a mechanism to create thoughts in humans. While Newton did expose the imperfectness of the mechanical philosophy, his

The Varied Value of Land Essay Example for Free

The Varied Value of Land Essay Land represents a quintessential issue between Native Americans and Europeans. This has been true since Columbus’ discovery and the era of Spanish exploration, invasion, and settlement. During the latter periods of Native American history we observe how English colonization and then the birth and growth of the United States affects the Indian Nations. During this period we mark how two divergent societies value land differently and the disparities resulting in conflict and Indian subjugation. The English Colonial Settlements initially viewed the land similarly as the aboriginal Indian inhabitants in a particular way. The land was the provider of sustenance to both. The early English Colonies sought refuge in the land, which was unlike the early Spanish whose North American invasions sought to pillage riches through lands traversed in the name of religious virtue. The original English Colonies had fled their own religious persecution and instead settle lands to build their society within its borders. The initial contention between Indians and the English Colonies grew from the fundamental differences in each civilization’s ideal of a settlement and territory. Whether an Indian Nations included permanent towns or not the Tribe’s Bands where predominately hunter-gatherers throughout its territory. Furthermore and unlike Europeans these Indian People shared cosmology that identified them as being one with the land. The European view of land was that of property and possession. As English Colonies and the later Americans further coveted Indian land to satisfy expansionism and economic enterprise we observe an unending encroachment on Indian resources. At first there was an aggressive unfettered Indian land grab and then ongoing assaults on natural resources residing on the ever-dwindling Indian lands. The stereotypes of American Indians as inferior beings with limited intellect, or bloodthirsty warriors, or lacking acceptable morals initially justified Colonial expansionism under pretense of ordained religiosity. Indian resistance to relentless encroachment was often confronted with rebellion and the question of sovereignty was debated. The establishment of the United States and the subsequent 1823 Supreme Court ruling of Johnson v.  McIntosh made clear the government accepted that early Europeans had rights to all Indian lands by having discovered the lands. Having previously defeated the British and securing American independence allowed the victor’s title be transferred to the United States. It is from this point that â€Å"Conquest by Law† guides the history of land possession between Native Americans and Americans. This conquest gained popular social acceptance by the mid 19th Century as American society adopted the political decree that it was Manifest Destiny to encompass the continent. The national conquest gained a legal endorsement to empower government separate Indian Nations from their land as assured in 1831 by the Supreme Court’s Cherokee Nation v. Georgia ruling that minimized Indian sovereignty to that of being a dominated people at best classified as dependents of their United States government guardian. In 1832 the Worcester v. Georgia ruling held that the aforementioned Cherokee treaties and the Trade and Intercourse Acts passed since 1790 did recognize Indian Nations as political entities with authority within its borders. It now excluded States from having any jurisdictional power over Indian Nations. Though this ruling established Indians as autonomous from States it put in motion what would later become Congressional plenary power and it marks the beginning of federally exercised relocation to feed American land hunger and later efforts to manage â€Å"the Indian problem†. The vastly different views regarding land combined with systematic efforts to dismantle Indian culture and pushed towards Indian eradication. Second to the impact of European introduced disease it would be habitat destruction and alteration to natural Indian environments that battled Indian Nations and drove them close to extinction. More so than overuse of natural resources it was the onset of the land being fenced and parceled which relegated Indian Nations to immobile and economically poor and spiritually bankrupt people faced with generational social disintegration. The series of governmental polices both purposefully and seemingly inadvertently legalized this conquest. Some of the most damaging and consequential actions include the movement to reservations through the late 1800s. The reservation policy reversal known as the Allotment Act of 1887 pushed to assimilate Indians using land as the vehicle by requiring such parcels provide for the Indians as it did homesteaders without any regard to the traditional Indian land relationship. From the Indian Reorganization Act of 1934 through the Termination policy and Relocation programs of the mid 20th Century the importance of Indian land affinity was never validated and to do so would have required literal enforcement and complete adherence to treaties. The current era of Tribal Self-Determination beginning when the Indian Civil Rights Act enacted in 1968 does acknowledge Euro-American infringement on Indian lands. Government interventions and enforcement, whether or not serving in the best interest of sovereign Indian Nations, has not sought to return these Indian Nations to a state of a being a harmonious civilization that can be described as a confederacy of tribes, bands, and familial clans pursuing their life cycle throughout a vast ecosystem. The Euro-American value of property and possession has prevailed.

The Telephone And Its Corporation :: History Communication Phone Essays

The Telephone And Its Corporation   Ã‚  Ã‚  Ã‚  Ã‚  The phone is easily one of man’s most important, useful and taken for granted inventions. The telephone has outgrown the ridicule with which it first received, now in most places taken for granted, it is a part of many people’s daily lives. It marvelously extended the ways man converses that it is now an indispensable help to whoever would live the convenient life. All disadvantage of being deaf and mute to any persons, which was universal before the advent of the telephone, has now happily been overcome. Before I tell of the history of how the telephone was constructed and put in to place I will tell of the past of communications.   Ã‚  Ã‚  Ã‚  Ã‚  Ever since the ability of language and written language the most popular form of communication was done through a letter. Others were as documented in 1200 BC in Homer’s Illiad were signal fires. Carrier pigeons were used in the Olympic games to send messages from 700 BC to 300 AD. In 1791 the Chappe brothers created the Semaphore system; they were two teens in France who wanted to be able to contact each other from their different school campuses. This system consisted of a pole with movable arms, which the positions took the place of letters of the alphabet. Two years later this idea had caught on and was being used in France, Italy, Russia, and Germany. Two semaphore systems were built in the U.S. in Boston and on Martha’s Vineyard; soon Congress was asked to fund a project for a semaphore system running from New York City to New Orleans. Samuel Morse told Congress that not to fund the project because he was developing the electric telegraph. Soon Samuel Morse developed his electric telegraph he demonstrated it in 1844 it caught on and by 1851 51 telegraph companies were in operation. And it continued to grow to 2250 telegraph offices nationwide. In 1876 Alexander Graham Bell patented the telephone.   Ã‚  Ã‚  Ã‚  Ã‚  Alexander Graham Bell was born on March 3, 1847 in Edinburgh. He grew up deeply involved in the study of speech due to his father and grandfathers work. He was also a talented musician able to play by ear from a very early age, and, had he not been more interested in what his father was doing to help people speak, he might have ended up as a professional musician. He and his two brothers built a model human skull and filled it with a good enough reproduction of the human vocal apparatus, which worked with a bellows, so it would be able to say, "Ma-ma.

Contribution of the Business Sector in Philippine’s Development

Since the end of World War II, the Philippine economy has been on an unfortunate trajectory, going from one of the richest countries in Asia (following Japan) to one of the poorest. Growth immediately after the war was rapid, but slowed over time. Years of economic mismanagement and political volatility during the Marcos regime contributed to economic stagnation and resulted in macroeconomic instability. A severe recession from 1984 through 1985 saw the economy shrink by more than 10%, and perceptions of political instability during the Aquino administration further dampened economic activity. But in recent years, the Philippine economy is slowly doing its best to increase its economic development. Due to the strong post-crisis, the Philippines continues to face challenges and must sustain to achieve economic growth. Thus, the role of business enterprises is essential in pulling up the country’s economic development. One of the biggest contributions of the business sector in Philippine’s development is through investments. They invest in society so that nobody falls out of the market. They also invest in building and maintaining capital resources to reduce cost of doing improve efficiency and invest in new and innovative technologies that create new services that promote public good. The business sector dominates the Philippine economy contributing a big part to the country’s GDP. These private enterprises hire workforce and so uplift employment rate. The Philippine business sector has demonstrated a wide range of innovative initiatives aimed at maximizing their positive social, economic and environmental impacts on the communities where they operate and on the society in general. The business sector does not only provide employment but also has a corporate social responsibility through providing opportunities for education, communications, engineering and financial supports. That is why the business sector plays an important role in the Philippine economic development.

Causes of Poverty Essay

Development Studies Assignment 4 QUESTION Poverty is a multi-faceted concept that can be defined in various ways. Write an essay in which you: -outline this concept as well as distinguish between absolute and relative poverty. In your discussion, provide relevant examples to illustrate your understanding (2 pages) -discuss any three (3) causes of poverty in Third World countries using concrete examples (3pages) READING: Study Guide, Unit 4 Regan Chapter 19 Assessment evidence shows that you can: – define the overall concept of poverty using relevant examples – define and compare the concepts of absolute and relative poverty, using examples to help illustrate your answer – use Robert Chambers’ deprivation trap to explain how poverty is a multi faceted concept and how it has many causes and effects – discuss three factors which may cause poverty in the third world. ANSWER TABLE OF CONTENTS 1. Introduction 2. Outlining the concept of a multi-faceted poverty 3. Distinction between absolute and relative poverty 4. Discussing any 3 causes of poverty in the world 5. Conclusion 6. Bibliography 1. INTRODUCTION â€Å"Where poverty is extreme and unending, human rights are eroded; the natural resources base deteriorates; and human dignity too often gives way to despair. Breaking the cycle of poverty is an integral part of development in every nation† UNDP Annual Report, Source:Regan 2006:283. I am going to outline the multi faced poverty, discuss the causes of poverty in the Third World countries. Poverty has been stalling development in the poor countries and strategies have been developed to fight poverty against the Economic Growth. It is true that â€Å"poverty is like the heat. It can only be felt when one gets into it†, hence to explain poverty is a very difficult task especially to someone who has never experienced it. 2. OUTLINING THE CONCEPT OF A MULTI FACETED POVERTY Poverty is linked to lack of adequate food, shelter, education, health, life expectancy, sanitation and access to safe water. â€Å"People living in poverty are often exposed to ill treatment by governments and institutions of the state and society and are powerless to influence key decisions affecting their lives† Regan 2006:283. Despite the fact that many positive changes have happened in terms of technology, and mass communications, there seem to be still a gap between the rich and the  poor. The few rich are taking the biggest part of the riches while the biggest population of the poor is sharing the smaller percentage of the riches, for example, â€Å"In1960 the richest 20% of the world’s people shared between them 70% of the entire wealth of this planet. By the mid-90’s, this figure had increased to over 85%† Regan 2006:281. We see a big gap there, not talking about the current figures in the recent years. We’re there is poverty there is lack of money to go to school hence illiteracy leading to one failing to read information about the Economic growth. In that sense it becomes a cycle of poverty in which poverty refuses to escape. Population is also another factor. When these people continue giving birth under those same conditions. So it is important when looking at poverty to look at what really caused the poverty. A well known author of Development issues, Robert Chambers, wrote about what he named the â€Å"deprivation trap†. In the households described by Chamber 1983:109, 110, he described the households that he named â€Å"clusters of disadvantage†. There is a house hold which is normally child headed after it has been affect by misfortunes like the death of the parents or maybe the parents died of HIV and AIDS. These children will be left on their own to fend for each other. The oldest child there will be left to take the siblings to school, fetch them water, and get them food to eat. The household altogether is affected by a combination of â€Å"parasites†, disease and malnutrition. The other family is that which lives very far away from a town, somewhere remote. They don’t normally get enough information on the current happenings in the outside world. If they get to travel its only to go visit a relative to ask for money or food. Even if they attend meetings, they rarely participate and are not normally seen as important in any aspect except maybe in doing those difficult jobs for paltry payments. Giving an example of my rural area of Gutu in Masvingo Province, Zimbabwe, this scenario really counts when the people from my village normally just go for political or church gatherings where they are just made to cook for people or just dance without any reasonable understanding. Schoolchildren from the schools surrounding my village normally are asked to do a lot of work for such functions unlike their peers in the urban areas or other bit developed areas. There is also a household that is vulnerable, less contingencies; there is also a household  that is ignorant, with less or no knowledge. No legal expertise. It is always exploited probably by moneylenders, politicians. Giving an example of the Zimbabwean peasant person during the 2013 harmonized elections, they would just accept any regalia from any political party because they wanted to find something to wear not because they love the political party. They would even take any food from any direction in a way of seeking a way to survive. There are also some areas like those people who were resettled in Zimbabwe after the land redistribution in 2000 where other families were resettled where there is no any form of communication i.e. radios, cell phones and even transport. Not mentioning schools, they are more than 10-15 kilometers from the house. At the end of the day these people have got not much entertainment therefore they end up bearing more and more children where there is no enough food to feed the children, which leads to them suffering from malnutrition and others failing to even go to school forever since there are no schools. They end up having large families of illiterate families who will be marrying the nearest family member. Their homes are precariously balanced. With this fourfold household description, Chambers compiled what he called a deprivation trap†. Hence summing all this up we learn that physical weakne ss, powerlessness, vulnerability, isolation and poverty do cause the cycle of poverty to never break. 3. DISTINCTION BETWEEN RELATIVE AND ABSOLUTE POVERTY According to Regan 2006:283, â€Å"Absolute poverty is characterized by some people in other parts of the world, normally the third world lives on a $1 per day. The population gets to 1.2billion. Those who live with $2 per day add up to 2.8 billion.† Relative poverty is normally when the country is deemed not to be living within the minimum requirements. For example in Zimbabwe it’s now deemed normal not to have electricity or water at a certain time (high load-shedding) of which it is poverty in the developed countries. Relative poverty therefore measures what percentage of population is poor when a minimum baseline â€Å"for that country† is used as a yardstick. The world Bank describes poverty a series of deprivations that may include: – living without fundamental freedoms of action or choice – lack of adequate food and shelter, education and health – extreme vulnerability to ill-health, Ebonics dislocation and natural disasters – being exposed to ill-treatment by the  state and society – powerlessness to influence key decisions 4. DISCUSSING ANY 3 CAUSES OF POVERTY IN THE WORLD There are a number of causes of poverty in the world which include dictatorship, lack of education, low wage rates, overpopulation, war, disease, floods, and natural disasters but here I am going to discuss about just 3 of them which are overpopulation, lack of education and war. a. Overpopulation Percy Bysshe Shelley, one of the finest English Romantic Poets, â€Å"The rich grind the poor into abjectness and then complain that they are abject. They goad them to famine, and then hang them if they steal a sheep†. Overpopulation refers to when an organism’s number exceed the carrying capacity of its habitat? The term usually refers to the relationship between human population and its environment, the earth. World population is currently growing by approximately 75million people per year according to the United Nations Reports and the net growth by mid-century is predicted by the United Nations medium variant to be about 33million, while the low is 13million. Overpopulation in the third world countries is one of the main causes of poverty which have failed to be tackled by experts in population issues. In a poverty reduction process it has become totally impossible to lower the population because human population tends to grow at a geometrical rate while the ability to produce subsistence increases at a merely arithmetical rate hence finding ourselves in an ever-deepening spiral of suffering caused by overpopulation. The earth’s capacity ofcourse can absorb big numbers of people but the land is being used for other not very necessary things instead of growing food for the number of people that is growing every second. FAO reports that by 2020, 135 million people may lose their land as a result of soil degradation as well. The exhaustible resources are limited and cannot meet the demands of all the people; especially where the rich are getting into the habit of of having more resources than required. When there is overpopulation clean water will be limited, medical care normally will be scarce, unemployment rate increases because many habitants will be looking forward to getting jobs, shelter will be crowded. Money on its own will not be enough to sustain a certain household. Most of the land will be used to build more houses hence reducing land for agriculture to grow crops to feed the people. In a country like Zimbabwe, prior to Robert Mugabe’s seizure of  the farmland, the farme rs had been using irrigation to deal with drought but during the seizures, much of the irrigation equipment was either vandalized or looted. A 2006 BBC article about Mugabe’s land seizure states † Critics say the reforms have devastated the economy and led to massive hunger. Much of the formerly white-owned land is no longer being productively used-either because the beneficiaries have no experience of farming or they lack finance and tools. Many farms were wrecked when they were invaded by government supporters† Some argue that without religion, population will be reasonable in the sense that people will be allowed to abort for an instance. The issues of birth control have been religiously viewed in countries like China where overpopulation is also rife. However many children are being born to face malnutrition or preventable diseases as a result of lack of nutritious food and desirable medications. Hence high infant/child mortality rate There is also the issue of fresh water. If the population keeps increasing there is likely to be less fresh water available in the world. Water deficit is also spurring grain imports in numerous smaller countries. The water tables are quickly getting exhausted because of the population growth. b. Lack of Education Studies indicate that if one has little or no education, the chances of them wallowing in poverty are huge. Lack of education is another major cause of poverty in the world. Without education, one cannot go anywhere. Developing countries do have inadequate budgets when it comes to education which is affecting the majority-especially with the growing population. Illiteracy is really a big player in the â€Å"cycle of poverty† that keeps the poor being locked in poverty as they do not have a chance to receive education. In many rural set ups, education is not treated as an important aspect in life especially in the girl child. In many occasions, you find that most children are kept from schools because they are needed at home to support their families with additional income by working. This â€Å"cycle of poverty† goes this way: if one fails to receive education they cannot read or write, they can never listen to the radio and understand what will be talked about-such that its easier for any outsider to come and use them and abuse them because they do not have sufficient if any knowledge or  information at all. Most black people do not normally think about the future, they just live on a life that is unplanned. When one fails to be well educated, it is difficult to get a good job with good salary to eradicate poverty back in their home. They end up doing menial, lowest paying jobs of which sometimes these jobs are seasonal, meaning when they are not working they just stay at home and have nothing to feed their family with. In the current situation in the world, tertiary education is now what’s considered the best for one to get a good job. Just ending in â€Å"A level† or â€Å"High School† will not give one a desired job that has good returns. In the United States 73% of people who do not have a high school degree live in poverty. That is how bad it is. Here in Zimbabwe I can say that the lack of education is bleeding the economy to the last, it’s also causing too much poverty because in the country like this which has been under the leadership of one person/party. There is too much corruption in the ruling government that they are offering top posts to uneducated people just because they just â€Å"went to war† Or maybe that they are related to so and so. They get into those offices and they start waging wars, and starving thousands while feeding their families only, failing to make their country prosperous. They start abusing the only resources that are there to help the majority of the country. Hence I can say that lack of education causes a lack of strong, prosperous leadership in the government and it causes a deficit of people who are willing to be well informed and willing to act on their own behalf of their own roles in all levels of government. c. War In the third world countries, they are normally characterized by wars normally fueled by civil unrests. War really causes and increases poverty in every other aspect. Not thinking only about the people who would have died during the war, there is a need to think about the families that would have been left by these people who would have died in the war. What will they eat? And in a normal war situation infrastructure is destroyed i.e. schools, houses, hospitals, roads and even any other types of shelter. That means there are going to be homeless children, adults, no schools to learn in, increasing the poverty. There will be a need to get funds/money to build the infrastructure. Talking about clean and safe water as well, normally after the war the water will be polluted with the  chemicals, if there is any water at all. War really affects the economy in a big way because the material and human destruction caused by it is a major development problem. Coming to give an example of Iraq, the only fight over oil caused the whole economy to crumble. The roads became dilapidated, the health sector went down. There had to be help to be sent through the United Nations to start on the economy. In Zimbabwe in the post war era around 1980, there had to be pumped out money to start building, of which, in a poor country like Zimbabwe it is difficult to source funds. Some never recovered from that that they never even decided to go back to school again making it impossible to reduce poverty in their land. 5. CONCLUSION Poverty has got many causes in the world but according to what I have discussed above, there can never be total poverty reduction in the whole world. This poverty topic also makes it clear that it is difficult to separate causes, effects and characteristics of poverty. The are many ways of poverty reduction, like farming, building dams, creation of employment, prioritizing education. The biggest goal is to reduce poverty through development strategies. Having used the Human Poverty Index and other socio-economic indicators it explores critical features of wealth and poverty divide. 6. BIBLIOGRAPHY Regan 2006. 80:20, Development in an unequal world Percy Bhsseye Shelley, Romantic Poet United Nation Report Thomas Robert Malthus (1766-1834) Essay on the Principle of Population Paul R. Ehrlich (1968) The Population Bomb

True Friendship Essay Example

True Friendship Essay Example True Friendship Essay True Friendship Essay Francisco Castro English 11 Mr. Woythaler/Mr. Lombardo February 27, 2010 In the novella Of Mice and Men by John Steinbeck many topics come up throughout the story. Topics that are about bonds between two people and about people who are lonely. These controlling ideas are used to make different themes in the story. The novella Of Mice and Men by John Steinbeck expresses themes of Friendship and Loneliness through various literary elements. The theme of a true friend that is always there when he rather is somewhere else is expressed through the use of characterization and conflict. George is characterized as a serious, short tempered man but he has a strong bond with Lennie. He had always told a story with Lennie about a dream and while he was saying the story Lennie says, â€Å"But not us! An’ why? Because . . . because I got you to look after me, and you got me to look after me and that’s why† (14). George always is angered by mistakes Lennie does and sometimes wishes he wasn’t with Lennie but he stays because he really needs him and Lennie needs him too. Lennie is characterized as a slow-witted friendly man. Lennie is a loving person he is the nicest creature but he has a strength that he cannot control. He is so strong he can’t control it sometimes and it has caused Curley to break his hand and the death of Curley’s wife. He is slow-witted and needs George to guide him but sometimes he wants control so he likes to pet things and take control over them. Conflict is another literary device that helps develop the theme. The Conflict between Lennie and Curley when Lennie had killed Curley’s wife accidently showed the friendship between George and Lennie. George decided to kill Lennie so that Lennie would die without knowing instead of being possibly tortured and dying with the knowledge of it. George told Lennie his story about their dream and shot him in the back of the head without knowing so Lennie died happily. George ironically saved his friend from being killed by killing him in order of making sure he doesn’t die with torture. This theme was made because of literary devices and can make more themes throughout the story. The theme

Income Elasticity of Demand

Income Elasticity of Demand A Beginners Guide to Elasticity: Price Elasticity of Demand  introduced the basic concept and illustrated it with a few examples of price elasticity of demand.   A Brief Review of Price Elasticity of Demand The formula for price elasticity of demand is:   Price Elasticity of Demand (PEoD) (% Change in Quantity Demanded) à ·Ã‚  (% Change in Price) The formula quantifies the demand for a given as the percentage change in the quantity of the good demanded divided by the percentage change in its price.   If the product, for example, is aspirin, which is widely available from many different manufacturers, a small change in one manufacturers price, lets say a 5 percent increase, might make a big difference in the demand for the product. Lets suppose that the decreased demand was a minus 20 percent, or -20%. Dividing the decreased demand (-20%) by the increased price (5 percent) gives a result of -4. The price elasticity of demand for aspirin is high a small difference in price produces a significant decrease in demand.   Generalizing the Formula You can generalize the formula by observing that it expresses the relationship between two variables, demand and price. A similar formula expresses another relationship, that between the demand for a given product  and consumer income Income Elasticity of Demand (% Change in Quantity Demanded)/(% Change in Income) In an economic recession, for example, U.S. household income might drop by 7 percent, but the household money spent on eating out might drop by 12 percent. In this case, the income elasticity of demand is calculated as 12 à · 7 or about 1.7. In other words, a moderate drop in income produces a greater drop in demand. In the same recession, on the other hand, we might discover that the 7 percent drop in household income produced only a 3 percent drop in baby formula sales. The calculation in this instance is 3 à · 7 or about 0.43.   what you can conclude from this is that eating out in restaurants is not an essential economic activity for U.S. households the elasticity of demand is 1.7, considerably great than 1.0 but that buying baby formula, with an income elasticity of demand of 0.43, is relatively essential and that demand will persist even when income drops.    Generalizing Income Elasticity of Demand Income elasticity of demand is used to see how sensitive the demand for a good is to an income change. The higher the income elasticity, the more sensitive demand for a good is to income changes. A very high-income elasticity suggests that when a consumers income goes up, consumers will buy a great deal more of that good and, conversely, that when income goes down consumers will cut back their purchases of that good to an even greater degree.   A very low price elasticity implies just the opposite, that changes in a consumers income have  little influence on demand. Often an assignment or a test will ask you the follow-up question Is the good a luxury good, a normal good, or an inferior good between the income range of $40,000 and $50,000? To answer that use the following rule of thumb: If IEoD 1 then the good is a Luxury Good and Income ElasticIf IEoD 1 and IEOD 0 then the good is a Normal Good and Income InelasticIf IEoD 0 then the good is an Inferior Good and Negative Income Inelastic The other side of the coin, of course, is supply.

Brands in Retail Market Literature review Example | Topics and Well Written Essays - 2750 words

Brands in Retail Market - Literature review Example Brands give products a unique identity or name with the help of a name / design or logo which catches the imagination of the customers. â€Å"A brand is an experience that lives at the intersection of promise and expectation. Your products are a way to deliver upon that promise. Forget features; concentrate on the unique experience you can provide† (Savard & Gallagher, 2010). The goal of retailers is to build strong brand identity to compete with other players in the industry. The paper discusses the implications and strategic significance of retail branding and its impact on customer choice and preference of stores. Introduction The retailing industry has gained increased prominence over the past few decades with growing consumerism in countries and wide range of products flooding the markets vying for consumer attention. The retail industry comprises of the department stores, local shops, discount stores, and specialty stores that form the vital link between the manufacturer s and customers. The global retail industry has witnessed significant changes in the post globalization period with markets opening to multinational products and brands making their way to the retail counters. The small local retail shops are disappearing to large multinational retail chain stores that have created a brand image for their quality of service and range of products available under one roof. Popular retail chain stores like Tesco, Walmart, Marks and Spencer have adopted international expansion strategies to increase market shares and profits. â€Å"Indeed, the larger the company, the more likely it is to operate beyond its domestic borders and to generate a higher percentage of its sales from foreign operations† (Deloitte, 2009). Brand management has emerged as a critical top management function for a business in the last decade. Brand image is increasingly being acknowledged as one of the most valuable intangible assets for a company. In the highly competitive r etailing industry, branding has a very important role to play in influencing customer perceptions and enhancing store loyalty. In the United States grocery and general merchandise industry, retailing has made major inroads in the last few years. The surge in promotions and private labels has been seen as an indicator of increase in retailer power. Simultaneously, there has also been a significant increase in the number of discounters and warehouse clubs. This has put a lot of pressure on traditional retailers. Retail competition has increased and become cut throat both within and between retail formats. Based on these observations the research provides an insight into the different perspectives that have emerged in driving customers to the retail chain stores. What role does branding play in influencing choice of retail stores and how do customers differentiate one retail brand from the other? These are some of the vital questions that are answered by the research paper through an a nalysis of existing literature and theoretical perspectives defining customer decision making process. Retail branding – a conceptual overview Retail branding is an evolving concept that has transformed the way customers shop today and it has generated a lot of speculation on how retail brands influence customers. Retail branding has been defined by Zentes, Morschett, and Schramm-Klein in their book Strategic Retail Management (2007) as â€Å"