Biblical Response

Debt, even if it is said to be a tool that can help one to prosper in life, I do not support that argument because debt can make one to live uncomfortable life full of stress. Debts enslave people, living their life to pay loans of money, which may otherwise have been spent extravagantly. Fro instance, borrowing money is easy such that people may be tempted to borrow without proper plan of use. This way, debts can make a person who was initially leading a prosperous life to loose his or her wealth.Influence of banks is one major factor that makes people to have debts since they have known on better ways of attracting customers to advance loans. Having debts beats the whole idea of living a disciplined life unless under unavoidable circumstances such as being unable to cater for your medical bills or education. When you tend to live with a lot of debts, it means you are trying to live a lifestyle that you can not afford. One should try to understand him or herself and put more efforts in order to improve ones life rather than being enslaved with debts.On the use of credit card, I do not agree whether one can manage credit card wisely and avoid having debts since credit cards are much tempting. It is true that people with credit cards tend to spent more than those who use their cash. This would obviously put an individual into unwarranted debts. Paying things with cash can enable one to even negotiate or bargain for reduction of the purchasing price where as is much impossible to bargain while using plastic money. In other words, it is easier to control money in from of cash than credit cards.Using credit card at the end makes one to spend more since one does not feel or realize the money being spent. Therefore, for one to avoid having debts there is need for one to use cash or debit cards whereby you have control of money spend. References Daveramsey. (2010). The Truth About Credit Card Debt. Retrieved July 27, 2010, from http://www. daveramsey. com/article/the- truth-about-credit-card-debt/ Daveramsey. (2010). The Truth About Debt. Retrieved July 27, 2010, from http://www. daveramsey.

Case Analysis

Organizations that remain stagnant In their strategy eventually become so salary to their competitors that the only differentiating characteristic between them is price; this hometown, according to Cummings and Gnawing transforms these companies into â€Å"lemmings† that blindly follow their peers without unleashing their full potential. An organization can set itself apart and create new paths for itself by changing its strategy to meet the new environment, a change Into what the authors call the Annual chimera† or PVC.In mythology, a chimera Is a multi-headed, different-faced creature with different body parts. The idea behind the chimera analogy is clear: organizations can differentiate themselves by adapting to the changing environment, hangs brought about by technology and increasing globalization. Most companies want to â€Å"differentiate themselves by developing a unique network of psychological characteristics and associations that separate them from others. Th ere is a clash between the old school management theories and the PVC: where the previous theories focused on cost reduction and efficient production, the PVC focuses on differentiation and customization. The clash emerges because the focus of these two ideas necessarily contradicts the other, as in how can you reduce cost but still customize your product? The PVC Is consistent with the resource-based model since It views organizations â€Å"In terms of their distinctive constellations of tangible and Intangible resources, the sum of whose parts create unique and often Inimitable capableness. The value chain analysis, according to the PVC, is not the preferred method of viewing strategy; instead, strategy should be a mixture of resources and value to create a hybrid organization that is both agile and also maintains its ability to produce what its customers want. 4. Dell faces Increased competition from Its rivals such as HP, Acre, Apple, and Leno and must stay agile to keep its ma rket share. All of them segment their customers effectively and then set their strategies to focus on each segment.Dell has four market segments that it has identified: home users, large enterprise customers, small/medium businesses, and the public sector. Dell's strategy is to maintain its focus on each of these segments to provide better customer service to malting loyalty. Acre group's strategy Is to acquire other competing brands and en to tailor tense Dramas to meet tenet segments needs. Acres strategy Is salary to Dell's, however Acre does not possess the knowledge that Dell has gained in-house to successfully focus its strengths into different brands for different segments.HP also segments is markets, however it started out by focusing on printing and imaging and not personal computers. HP also focuses its strategy on the services-side of computing, a segment that Dell does not compete in directly. HP seems to be focusing its PC sales on new, fancy-looking computers rather th an setting itself apart eased on its customer service or services business. Apple, on the other hand, does not segment its market in the same way that Dell, HP, and Acre segment their markets. Apple's market is a niche computing market that serves the â€Å"high-end† computer user.Dell does not need to directly compete with Apple since Apple-loyalty is based on the niche, and not based on the quality of service or quality of product like Dell's loyalty is based. Leno started out late in the game and purchased Vim's personal computer division and is the largest producer in Asia. Leno focuses, like HP, on the services-side of computing, a segment that Dell does not compete in yet. Dell also offers adjacent products like televisions and entertainment products, segments that Leno does not offer.Dell should compete with Leno only in Asia and the Middle Eastern markets in the future. Based on the previous analysis, Dell should continue to focus its strategy on its current market se gments and not venture into new territory such as services and other management tools. While Dell might consider Asia as its next frontier, there are many issues with facing Leno on its own ruff, as well as new entrants to the market as developing countries like India begin their own computer producing companies.I would recommend that Dell maintain its focus on Asia and keep its strategy limited to offering quality customer service and affordable, customizable personal computers in the U. S. 2. We must classify environments because firms can control certain aspects of it, and cannot control other aspects of it. General environment segments directly influence an industry and include segments such as political, demographic, and coloratura. Firms cannot control the general environment segments, however these segments directly influence the strategies these firms will choose.On the other hand, industry environment factors directly influence a firm and its strategic choices: the power of suppliers, threat of new entrants, and the intensity of rivalry among competitors. Successful firms gather all the necessary information on the external environment and then also gather intelligence on their competitors in the industry to properly form their strategy. Five important factors in the general environment include anemographic, technological, coloratura, global, and legal segments.The demographic segment considers that age and population of the market as well as the income of customers; technology considerations include advances in communication and product innovation; coloratura segment analysis includes workforce diversity, shifts in product characteristic preferences, and shifts in work/career preferences; the global segment considers emerging new markets and different cultural attributes; finally, the legal segment considers laws and regulations that may affect strategic decisions. Case Analysis Organizations that remain stagnant In their strategy eventually become so salary to their competitors that the only differentiating characteristic between them is price; this hometown, according to Cummings and Gnawing transforms these companies into â€Å"lemmings† that blindly follow their peers without unleashing their full potential. An organization can set itself apart and create new paths for itself by changing its strategy to meet the new environment, a change Into what the authors call the Annual chimera† or PVC.In mythology, a chimera Is a multi-headed, different-faced creature with different body parts. The idea behind the chimera analogy is clear: organizations can differentiate themselves by adapting to the changing environment, hangs brought about by technology and increasing globalization. Most companies want to â€Å"differentiate themselves by developing a unique network of psychological characteristics and associations that separate them from others. Th ere is a clash between the old school management theories and the PVC: where the previous theories focused on cost reduction and efficient production, the PVC focuses on differentiation and customization. The clash emerges because the focus of these two ideas necessarily contradicts the other, as in how can you reduce cost but still customize your product? The PVC Is consistent with the resource-based model since It views organizations â€Å"In terms of their distinctive constellations of tangible and Intangible resources, the sum of whose parts create unique and often Inimitable capableness. The value chain analysis, according to the PVC, is not the preferred method of viewing strategy; instead, strategy should be a mixture of resources and value to create a hybrid organization that is both agile and also maintains its ability to produce what its customers want. 4. Dell faces Increased competition from Its rivals such as HP, Acre, Apple, and Leno and must stay agile to keep its ma rket share. All of them segment their customers effectively and then set their strategies to focus on each segment.Dell has four market segments that it has identified: home users, large enterprise customers, small/medium businesses, and the public sector. Dell's strategy is to maintain its focus on each of these segments to provide better customer service to malting loyalty. Acre group's strategy Is to acquire other competing brands and en to tailor tense Dramas to meet tenet segments needs. Acres strategy Is salary to Dell's, however Acre does not possess the knowledge that Dell has gained in-house to successfully focus its strengths into different brands for different segments.HP also segments is markets, however it started out by focusing on printing and imaging and not personal computers. HP also focuses its strategy on the services-side of computing, a segment that Dell does not compete in directly. HP seems to be focusing its PC sales on new, fancy-looking computers rather th an setting itself apart eased on its customer service or services business. Apple, on the other hand, does not segment its market in the same way that Dell, HP, and Acre segment their markets. Apple's market is a niche computing market that serves the â€Å"high-end† computer user.Dell does not need to directly compete with Apple since Apple-loyalty is based on the niche, and not based on the quality of service or quality of product like Dell's loyalty is based. Leno started out late in the game and purchased Vim's personal computer division and is the largest producer in Asia. Leno focuses, like HP, on the services-side of computing, a segment that Dell does not compete in yet. Dell also offers adjacent products like televisions and entertainment products, segments that Leno does not offer.Dell should compete with Leno only in Asia and the Middle Eastern markets in the future. Based on the previous analysis, Dell should continue to focus its strategy on its current market se gments and not venture into new territory such as services and other management tools. While Dell might consider Asia as its next frontier, there are many issues with facing Leno on its own ruff, as well as new entrants to the market as developing countries like India begin their own computer producing companies.I would recommend that Dell maintain its focus on Asia and keep its strategy limited to offering quality customer service and affordable, customizable personal computers in the U. S. 2. We must classify environments because firms can control certain aspects of it, and cannot control other aspects of it. General environment segments directly influence an industry and include segments such as political, demographic, and coloratura. Firms cannot control the general environment segments, however these segments directly influence the strategies these firms will choose.On the other hand, industry environment factors directly influence a firm and its strategic choices: the power of suppliers, threat of new entrants, and the intensity of rivalry among competitors. Successful firms gather all the necessary information on the external environment and then also gather intelligence on their competitors in the industry to properly form their strategy. Five important factors in the general environment include anemographic, technological, coloratura, global, and legal segments.The demographic segment considers that age and population of the market as well as the income of customers; technology considerations include advances in communication and product innovation; coloratura segment analysis includes workforce diversity, shifts in product characteristic preferences, and shifts in work/career preferences; the global segment considers emerging new markets and different cultural attributes; finally, the legal segment considers laws and regulations that may affect strategic decisions. Case Analysis The Effects of Advertising CONSUMER BEHAVIOR COURSE – Brief overview The schedule will be available in September Dr. Anne-Laure Sellier Tisch 8-11 Phone: (212) 998-0553 Fax: (212) 995-4855 [email  protected] nyu. edu Office Hours: flexible, call for appointment Teaching assistant: TBA Optional Readings: I highly recommend you go through the readings below. However, please note we will never refer to the Solomon book in class. I will merely indicate what chapters are relevant for each class, and you can use the book as a tool to better grasp some of the concepts we will discuss in class. . Solomon (2008). Consumer Behavior: Buying, Having and Being (8th ed). Upper Saddle River, New Jersey. 2. Additional journal articles, exercises, and recent news from the popular business press will be provided throughout the semester. The journal articles will provide you with a deeper insight into selected topics and methods of consumer behavior research. The business news articles, cases, and exercises will give you the opportunity to apply the conceptual framework to current real-world marketing problems.The readings and assignments will be handed out in class and/or posted on the Blackboard. 3. Most cases assigned for the class are in the course pack, and some will be posted on Blackboard, as we will enjoy freshly baked cases from the London Business School and the industry. Overview: Consumer behavior is one of the most interesting and important aspects of marketing management. Virtually all decisions involved in developing an effective marketing mix for a product or service rely on thorough knowledge of the consumers who comprise the target market.Understanding the behavior of the consumer can help marketers anticipate reactions to changes in the marketing mix, or determine whether new products are likely to be adopted. Consumer behavior is also closely related to marketing research. A practical understanding of the consumer can aid in the selection of an approp riate research methodology, question design and selection, as well as in interpreting consumer responses to such questions. In this course we will directly examine the available theory and research concerning the behavior of the consumer in order to understand its most basic principles.The majority of the course will focus on the consumer as an information processor of one sort or another. We will examine the motivational and perceptual factors upon which buyer behavior is built, as well as look at more complex processes such as persuasion, attitude judgment, and decision-making. In practical terms, we will address the following questions: What kinds of marketing stimuli do consumers notice? How can we get them to notice our marketing messages? What motivates consumers? What do consumers value?What elements can we include in our marketing mix to motivate consumers to learn more about our product or to buy it? What kinds of information are consumers good at remembering? How can we ai d consumer memory for our brand name and product features? What makes consumers evaluate products as good or bad, and how can we persuade them that our product is good? How can we get consumers to choose our product over competitors? What features do consumers care about, and how does this influence their decision? What are the main things that determine whether consumers are satisfied with a product or not?The goals of this class are: †¢ to acquire a framework for analyzing consumer behavior problems †¢ to learn how consumer behavior can be affected by different marketing strategies †¢ to show how behavioral evidence can be used to evaluate alternative marketing strategies †¢ to learn about and use consumer behavior theories in marketing and social psychology The course is structured as followed: we will discuss a case; it will be followed by a lecture related to the case. Note that we discuss the case for 1h30 / 2 hrs, so you are expected to be thoroughly prepa red for class discussion.Course prerequisites: a solid understanding of your Core Marketing course Course Grades: Class participation Written assignments (2) Final exam 20% 40% 40% N. B. on class participation: Attending all sessions is obviously crucial. It will also give you the opportunity to actively participate in class discussions and obtain a high class participation grade. Note, however, that your mere presence is not sufficient to earn points for class participation. What matters is the quantity and, especially, the quality of your contributions to class discussions.Assignments Assignments are due at the beginning of the relevant class. They are to be prepared in groups of 4 or 5 students. Students are expected to choose who they want to work with. All groups should be formed before the third week of class. Length: 3 pages (single spaced), plus any appendices, graphs, etc. The assignments involve a case analysis. Groups will write a brief paper examining the buyer behavior issues involved in two case readings assigned for the class, and describe the implications these principles have for the strategy they propose in the case.Each case will have associated questions with it that will help you structure your answer. Each assignment is due at the beginning of the class where the case will be discussed. Final exam The final exam will be a three-hour case-study, closed book, involving questions related to consumer behavior. It will take place during the last week of the course. We will finalize the exam date during our first class. Please make sure that you will not have any other work / interview-related commitment that day.Course Website This website has many useful things on it, including continuously updated information on assignments, readings, course schedule, etc. Also, we will use it as a platform to discuss consumer behavior issues covered in the press during the semester. Please check Blackboard regularly. Class Notes I will hand out hard copies of the slides after the case discussion in every session. In addition, the PowerPoint slides for each class will be available for downloading from the website as of right after class. Note, however, that these slides only present an outline of the class discussion.You will need to take notes to fully capture the material discussed in class. Additional Literature You can find additional relevant literature (e. g. , for your team project) using the Bobst Business Databases ( http://www. nyu. edu/library/bobst/database/d_bus. htm ), as well as links on the class website. Class Policy †¢ Be prepared: Make sure that you have read the readings assigned for each class. This will help you to better understand the material discussed in class and to actively participate in class discussions.Attend regularly: Regular attendance will provide you with more opportunities to contribute to class and thus increase your participation grade. Please note that you are responsible for knowing any ch anges or assignments announced in class. Arrive on time: Late-comers are very disturbing. Systematic tardiness will have a negative impact on your participation grade. Respect assignment deadlines: Late assignments will not be accepted without a prior agreement. Be honest: Cheating and plagiarism will result in a grade of â€Å"F† for the assignment/test for all parties involved. †¢ †¢ †¢ †¢ Case Analysis Organizations that remain stagnant In their strategy eventually become so salary to their competitors that the only differentiating characteristic between them is price; this hometown, according to Cummings and Gnawing transforms these companies into â€Å"lemmings† that blindly follow their peers without unleashing their full potential. An organization can set itself apart and create new paths for itself by changing its strategy to meet the new environment, a change Into what the authors call the Annual chimera† or PVC.In mythology, a chimera Is a multi-headed, different-faced creature with different body parts. The idea behind the chimera analogy is clear: organizations can differentiate themselves by adapting to the changing environment, hangs brought about by technology and increasing globalization. Most companies want to â€Å"differentiate themselves by developing a unique network of psychological characteristics and associations that separate them from others. Th ere is a clash between the old school management theories and the PVC: where the previous theories focused on cost reduction and efficient production, the PVC focuses on differentiation and customization. The clash emerges because the focus of these two ideas necessarily contradicts the other, as in how can you reduce cost but still customize your product? The PVC Is consistent with the resource-based model since It views organizations â€Å"In terms of their distinctive constellations of tangible and Intangible resources, the sum of whose parts create unique and often Inimitable capableness. The value chain analysis, according to the PVC, is not the preferred method of viewing strategy; instead, strategy should be a mixture of resources and value to create a hybrid organization that is both agile and also maintains its ability to produce what its customers want. 4. Dell faces Increased competition from Its rivals such as HP, Acre, Apple, and Leno and must stay agile to keep its ma rket share. All of them segment their customers effectively and then set their strategies to focus on each segment.Dell has four market segments that it has identified: home users, large enterprise customers, small/medium businesses, and the public sector. Dell's strategy is to maintain its focus on each of these segments to provide better customer service to malting loyalty. Acre group's strategy Is to acquire other competing brands and en to tailor tense Dramas to meet tenet segments needs. Acres strategy Is salary to Dell's, however Acre does not possess the knowledge that Dell has gained in-house to successfully focus its strengths into different brands for different segments.HP also segments is markets, however it started out by focusing on printing and imaging and not personal computers. HP also focuses its strategy on the services-side of computing, a segment that Dell does not compete in directly. HP seems to be focusing its PC sales on new, fancy-looking computers rather th an setting itself apart eased on its customer service or services business. Apple, on the other hand, does not segment its market in the same way that Dell, HP, and Acre segment their markets. Apple's market is a niche computing market that serves the â€Å"high-end† computer user.Dell does not need to directly compete with Apple since Apple-loyalty is based on the niche, and not based on the quality of service or quality of product like Dell's loyalty is based. Leno started out late in the game and purchased Vim's personal computer division and is the largest producer in Asia. Leno focuses, like HP, on the services-side of computing, a segment that Dell does not compete in yet. Dell also offers adjacent products like televisions and entertainment products, segments that Leno does not offer.Dell should compete with Leno only in Asia and the Middle Eastern markets in the future. Based on the previous analysis, Dell should continue to focus its strategy on its current market se gments and not venture into new territory such as services and other management tools. While Dell might consider Asia as its next frontier, there are many issues with facing Leno on its own ruff, as well as new entrants to the market as developing countries like India begin their own computer producing companies.I would recommend that Dell maintain its focus on Asia and keep its strategy limited to offering quality customer service and affordable, customizable personal computers in the U. S. 2. We must classify environments because firms can control certain aspects of it, and cannot control other aspects of it. General environment segments directly influence an industry and include segments such as political, demographic, and coloratura. Firms cannot control the general environment segments, however these segments directly influence the strategies these firms will choose.On the other hand, industry environment factors directly influence a firm and its strategic choices: the power of suppliers, threat of new entrants, and the intensity of rivalry among competitors. Successful firms gather all the necessary information on the external environment and then also gather intelligence on their competitors in the industry to properly form their strategy. Five important factors in the general environment include anemographic, technological, coloratura, global, and legal segments.The demographic segment considers that age and population of the market as well as the income of customers; technology considerations include advances in communication and product innovation; coloratura segment analysis includes workforce diversity, shifts in product characteristic preferences, and shifts in work/career preferences; the global segment considers emerging new markets and different cultural attributes; finally, the legal segment considers laws and regulations that may affect strategic decisions. Case Analysis The Effects of Advertising CONSUMER BEHAVIOR COURSE – Brief overview The schedule will be available in September Dr. Anne-Laure Sellier Tisch 8-11 Phone: (212) 998-0553 Fax: (212) 995-4855 [email  protected] nyu. edu Office Hours: flexible, call for appointment Teaching assistant: TBA Optional Readings: I highly recommend you go through the readings below. However, please note we will never refer to the Solomon book in class. I will merely indicate what chapters are relevant for each class, and you can use the book as a tool to better grasp some of the concepts we will discuss in class. . Solomon (2008). Consumer Behavior: Buying, Having and Being (8th ed). Upper Saddle River, New Jersey. 2. Additional journal articles, exercises, and recent news from the popular business press will be provided throughout the semester. The journal articles will provide you with a deeper insight into selected topics and methods of consumer behavior research. The business news articles, cases, and exercises will give you the opportunity to apply the conceptual framework to current real-world marketing problems.The readings and assignments will be handed out in class and/or posted on the Blackboard. 3. Most cases assigned for the class are in the course pack, and some will be posted on Blackboard, as we will enjoy freshly baked cases from the London Business School and the industry. Overview: Consumer behavior is one of the most interesting and important aspects of marketing management. Virtually all decisions involved in developing an effective marketing mix for a product or service rely on thorough knowledge of the consumers who comprise the target market.Understanding the behavior of the consumer can help marketers anticipate reactions to changes in the marketing mix, or determine whether new products are likely to be adopted. Consumer behavior is also closely related to marketing research. A practical understanding of the consumer can aid in the selection of an approp riate research methodology, question design and selection, as well as in interpreting consumer responses to such questions. In this course we will directly examine the available theory and research concerning the behavior of the consumer in order to understand its most basic principles.The majority of the course will focus on the consumer as an information processor of one sort or another. We will examine the motivational and perceptual factors upon which buyer behavior is built, as well as look at more complex processes such as persuasion, attitude judgment, and decision-making. In practical terms, we will address the following questions: What kinds of marketing stimuli do consumers notice? How can we get them to notice our marketing messages? What motivates consumers? What do consumers value?What elements can we include in our marketing mix to motivate consumers to learn more about our product or to buy it? What kinds of information are consumers good at remembering? How can we ai d consumer memory for our brand name and product features? What makes consumers evaluate products as good or bad, and how can we persuade them that our product is good? How can we get consumers to choose our product over competitors? What features do consumers care about, and how does this influence their decision? What are the main things that determine whether consumers are satisfied with a product or not?The goals of this class are: †¢ to acquire a framework for analyzing consumer behavior problems †¢ to learn how consumer behavior can be affected by different marketing strategies †¢ to show how behavioral evidence can be used to evaluate alternative marketing strategies †¢ to learn about and use consumer behavior theories in marketing and social psychology The course is structured as followed: we will discuss a case; it will be followed by a lecture related to the case. Note that we discuss the case for 1h30 / 2 hrs, so you are expected to be thoroughly prepa red for class discussion.Course prerequisites: a solid understanding of your Core Marketing course Course Grades: Class participation Written assignments (2) Final exam 20% 40% 40% N. B. on class participation: Attending all sessions is obviously crucial. It will also give you the opportunity to actively participate in class discussions and obtain a high class participation grade. Note, however, that your mere presence is not sufficient to earn points for class participation. What matters is the quantity and, especially, the quality of your contributions to class discussions.Assignments Assignments are due at the beginning of the relevant class. They are to be prepared in groups of 4 or 5 students. Students are expected to choose who they want to work with. All groups should be formed before the third week of class. Length: 3 pages (single spaced), plus any appendices, graphs, etc. The assignments involve a case analysis. Groups will write a brief paper examining the buyer behavior issues involved in two case readings assigned for the class, and describe the implications these principles have for the strategy they propose in the case.Each case will have associated questions with it that will help you structure your answer. Each assignment is due at the beginning of the class where the case will be discussed. Final exam The final exam will be a three-hour case-study, closed book, involving questions related to consumer behavior. It will take place during the last week of the course. We will finalize the exam date during our first class. Please make sure that you will not have any other work / interview-related commitment that day.Course Website This website has many useful things on it, including continuously updated information on assignments, readings, course schedule, etc. Also, we will use it as a platform to discuss consumer behavior issues covered in the press during the semester. Please check Blackboard regularly. Class Notes I will hand out hard copies of the slides after the case discussion in every session. In addition, the PowerPoint slides for each class will be available for downloading from the website as of right after class. Note, however, that these slides only present an outline of the class discussion.You will need to take notes to fully capture the material discussed in class. Additional Literature You can find additional relevant literature (e. g. , for your team project) using the Bobst Business Databases ( http://www. nyu. edu/library/bobst/database/d_bus. htm ), as well as links on the class website. Class Policy †¢ Be prepared: Make sure that you have read the readings assigned for each class. This will help you to better understand the material discussed in class and to actively participate in class discussions.Attend regularly: Regular attendance will provide you with more opportunities to contribute to class and thus increase your participation grade. Please note that you are responsible for knowing any ch anges or assignments announced in class. Arrive on time: Late-comers are very disturbing. Systematic tardiness will have a negative impact on your participation grade. Respect assignment deadlines: Late assignments will not be accepted without a prior agreement. Be honest: Cheating and plagiarism will result in a grade of â€Å"F† for the assignment/test for all parties involved. †¢ †¢ †¢ †¢

Attitude Formation

†¢ The affective component consists of the emotional feelings stimulated by the object of the attitude. †¢ The behavioral component consists of predispositions to act in certain ways toward an attitude object. The object of an attitude can be anything people have opinions about. Therefore, individual people, groups of people, institutions, products, social trends, consumer products, etc. all can be attitudinal objects. †¢ Attitudes involve social judgments. They are either for, or against, pro, or con, positive, or negative; however, it is possible to be ambivalent about the attitudinal object and have a mix of positive and negative feelings and thoughts about it. †¢ Attitudes involve a readiness (or predisposition) to respond; however, for a variety of reasons we don’t always act on our attitudes. †¢ Attitudes vary along dimensions of strength and accessibility. Strong attitudes are very important to the individual and tend to be durable and have a powerful impact on behavior, whereas weak attitudes are not very important and have little impact. Accessible attitudes come to mind quickly, whereas other attitudes may rarely be noticed. †¢ Attitudes tend to be stable over time, but a number of factors can cause attitudes to change. †¢ Stereotypes are widely held beliefs that people have certain characteristics because of their membership in a particular group. †¢ A prejudice is an arbitrary belief, or feeling, directed toward a group of people or its individual members. Prejudices can be either positive or negative; however, the term is usually used to refer to a negative attitude held toward members of a group. Prejudice may lead to discrimination, which involves behaving differently, usually unfairly, toward the members of a group. Psychological factors involved in Attitude Formation and Attitude Change 1. Direct Instruction involves being told what attitudes to have by parents, schools, community organizations, religious doctrine, friends, etc. 2. Operant Conditioning is a simple form of learning. It is based on the â€Å"Law of Effect† and involves voluntary responses. Behaviors (including verbal behaviors and maybe even thoughts) tend to be repeated if they are reinforced (i. e. , followed by a positive experience). Conversely, behaviors tend to be stopped when they are punished (i. e. , followed by an unpleasant experience). Thus, if one expresses, or acts out an attitude toward some group, and this is reinforced by one’s peers, the attitude is strengthened and is likely to be expressed again. The reinforcement can be as subtle as a smile or as obvious as a raise in salary. Operant conditioning is especially involved with the behavioral component of attitudes. 3. Classical conditioning is another simple form of learning. It involves involuntary responses and is acquired through the pairing of two stimuli. Two events that repeatedly occur close together in time become fused and before long the person responds in the same way to both events. Originally studied by Pavlov, the process requires an unconditioned stimulus (UCS) that produces an involuntary (reflexive) response (UCR). If a neutral stimulus (NS) is paired, either very dramatically on one occasion, or repeatedly for several acquisition trials, the neutral stimulus will lead to the same response elicited by the unconditioned stimulus. At this point the stimulus is no longer neutral and so is referred to as a conditioned stimulus (CS) and the response has now become a learned response and so is referred to as a conditioned response (CR). In Pavlov’s research the UCS was meat powder which led to an UCR of salivation. The NS was a bell. At first the bell elicited no response from the dog, but eventually the bell alone caused the dog to salivate. Advertisers create positive attitudes towards their products by presenting attractive models in their ads. In this case the model is the UCS and our reaction to him, or her, is an automatic positive response. The product is the original NS which through pairing comes to elicit a positive conditioned response. In a similar fashion, pleasant or unpleasant experiences with members of a particular group could lead to positive or negative attitudes toward that group. Classical conditioning is especially involved with the emotional, or affective, component of attitudes. 4. Social (Observational) Learning is based on modeling. We observe others. If they are getting reinforced for certain behaviors or the expression of certain attitudes, this serves as vicarious reinforcement and makes it more ikely that we, too, will behave in this manner or express this attitude. Classical conditioning can also occur vicariously through observation of others. 5. Cognitive Dissonance exists when related cognitions, feelings or behaviors are inconsistent or contradictory. Cognitive dissonance creates an unpleasant state of tension that motivates people to reduce their dissonance by changing their cognitions, feel ing, or behaviors. For example, a person who starts out with a negative attitude toward marijuana will experience cognitive dissonance if they start smoking marijuana and find themselves enjoying the experience. The dissonance they experience is thus likely to motivate them to either change their attitude toward marijuana, or to stop using marijuana. This process can be conscious, but often occurs without conscious awareness. 6. Unconscious Motivation. Some attitudes are held because they serve some unconscious function for an individual. For example, a person who is threatened by his homosexual feelings may employ the defense mechanism of reaction formation and become a crusader against homosexuals. Or, someone who feels inferior may feel somewhat better by putting down a group other than her own. Because it is unconscious, the person will not be aware of the unconscious motivation at the time it is operative, but may become aware of it as some later point in time. 7. Rational Analysis involves the careful weighing of evidence for, and against, a particular attitude. For example, a person may carefully listen to the presidential debates and read opinions of political experts in order to decide which candidate to vote for in an election. Attitude Formation †¢ The affective component consists of the emotional feelings stimulated by the object of the attitude. †¢ The behavioral component consists of predispositions to act in certain ways toward an attitude object. The object of an attitude can be anything people have opinions about. Therefore, individual people, groups of people, institutions, products, social trends, consumer products, etc. all can be attitudinal objects. †¢ Attitudes involve social judgments. They are either for, or against, pro, or con, positive, or negative; however, it is possible to be ambivalent about the attitudinal object and have a mix of positive and negative feelings and thoughts about it. †¢ Attitudes involve a readiness (or predisposition) to respond; however, for a variety of reasons we don’t always act on our attitudes. †¢ Attitudes vary along dimensions of strength and accessibility. Strong attitudes are very important to the individual and tend to be durable and have a powerful impact on behavior, whereas weak attitudes are not very important and have little impact. Accessible attitudes come to mind quickly, whereas other attitudes may rarely be noticed. †¢ Attitudes tend to be stable over time, but a number of factors can cause attitudes to change. †¢ Stereotypes are widely held beliefs that people have certain characteristics because of their membership in a particular group. †¢ A prejudice is an arbitrary belief, or feeling, directed toward a group of people or its individual members. Prejudices can be either positive or negative; however, the term is usually used to refer to a negative attitude held toward members of a group. Prejudice may lead to discrimination, which involves behaving differently, usually unfairly, toward the members of a group. Psychological factors involved in Attitude Formation and Attitude Change 1. Direct Instruction involves being told what attitudes to have by parents, schools, community organizations, religious doctrine, friends, etc. 2. Operant Conditioning is a simple form of learning. It is based on the â€Å"Law of Effect† and involves voluntary responses. Behaviors (including verbal behaviors and maybe even thoughts) tend to be repeated if they are reinforced (i. e. , followed by a positive experience). Conversely, behaviors tend to be stopped when they are punished (i. e. , followed by an unpleasant experience). Thus, if one expresses, or acts out an attitude toward some group, and this is reinforced by one’s peers, the attitude is strengthened and is likely to be expressed again. The reinforcement can be as subtle as a smile or as obvious as a raise in salary. Operant conditioning is especially involved with the behavioral component of attitudes. 3. Classical conditioning is another simple form of learning. It involves involuntary responses and is acquired through the pairing of two stimuli. Two events that repeatedly occur close together in time become fused and before long the person responds in the same way to both events. Originally studied by Pavlov, the process requires an unconditioned stimulus (UCS) that produces an involuntary (reflexive) response (UCR). If a neutral stimulus (NS) is paired, either very dramatically on one occasion, or repeatedly for several acquisition trials, the neutral stimulus will lead to the same response elicited by the unconditioned stimulus. At this point the stimulus is no longer neutral and so is referred to as a conditioned stimulus (CS) and the response has now become a learned response and so is referred to as a conditioned response (CR). In Pavlov’s research the UCS was meat powder which led to an UCR of salivation. The NS was a bell. At first the bell elicited no response from the dog, but eventually the bell alone caused the dog to salivate. Advertisers create positive attitudes towards their products by presenting attractive models in their ads. In this case the model is the UCS and our reaction to him, or her, is an automatic positive response. The product is the original NS which through pairing comes to elicit a positive conditioned response. In a similar fashion, pleasant or unpleasant experiences with members of a particular group could lead to positive or negative attitudes toward that group. Classical conditioning is especially involved with the emotional, or affective, component of attitudes. 4. Social (Observational) Learning is based on modeling. We observe others. If they are getting reinforced for certain behaviors or the expression of certain attitudes, this serves as vicarious reinforcement and makes it more ikely that we, too, will behave in this manner or express this attitude. Classical conditioning can also occur vicariously through observation of others. 5. Cognitive Dissonance exists when related cognitions, feelings or behaviors are inconsistent or contradictory. Cognitive dissonance creates an unpleasant state of tension that motivates people to reduce their dissonance by changing their cognitions, feel ing, or behaviors. For example, a person who starts out with a negative attitude toward marijuana will experience cognitive dissonance if they start smoking marijuana and find themselves enjoying the experience. The dissonance they experience is thus likely to motivate them to either change their attitude toward marijuana, or to stop using marijuana. This process can be conscious, but often occurs without conscious awareness. 6. Unconscious Motivation. Some attitudes are held because they serve some unconscious function for an individual. For example, a person who is threatened by his homosexual feelings may employ the defense mechanism of reaction formation and become a crusader against homosexuals. Or, someone who feels inferior may feel somewhat better by putting down a group other than her own. Because it is unconscious, the person will not be aware of the unconscious motivation at the time it is operative, but may become aware of it as some later point in time. 7. Rational Analysis involves the careful weighing of evidence for, and against, a particular attitude. For example, a person may carefully listen to the presidential debates and read opinions of political experts in order to decide which candidate to vote for in an election.

Gerlach & Ely Model of ID Essay Example | Topics and Well Written Essays - 1250 words

Gerlach & Ely Model of ID - Essay Example The content of the course is often established through a standard curriculum thus needs no assessment. In addition, since the model was designed with teachers in mind, who are expected to know their students and the setting of learning process, no learner or context analyses are included (Orellena, Hudgins and Simonson, 2009). Instructional design, according to Gerlach and Ely, recognize teachers. Most teachers think about their courses first and foremost in terms of context, not the course objectives. The first step in Gerlach and Ely’s ID model is to describe an interactive process of examining content and generating objectives. In addition, the model also highlights the importance of assessing entry behaviors as its second step. The last step involves five interactive and simultaneous procedures: determine strategy, organize groups, allocate time, allocate space and finally, select resources. These steps are followed by a performance evaluation and a feedback analysis step. The following is a brief summary of the steps to be followed in the Gerlach and Ely ID model. The first step involves the specification of objectives. The teacher specifies behaviors in terms of what the learners should be able to do at specified points along the instructional continuum. The next steps to be followed include: specification of content, assessment of entry behaviors, determination of strategy and techniques and organization of groups (Bruce, Ledford and Sleeman, 2001). In the step of organizing the group, it is important to note that the objectives determine the group size. Several questions might be asked during this step, for instance, which objectives can be reached by the learners on their own? Which objectives can be achieved through interaction among learners? Which objectives can be achieved through formal presentation by the teacher and through interaction between the learner and the

An Online Estate Agent in Saudi Arabia Research Proposal

An Online Estate Agent in Saudi Arabia - Research Proposal Example With every endeavour in this world calls for business opportunities, and since around the year 2000, online estate agents started to offer an option to the customary fee structure, maintaining cheaper, predetermined fee selling packages (Lecinski, 2012). These internet estate agents declare to grant private property vendors the capability of advertise their property through the leading property portals (the ideal medium utilised by customary high street estate agents) for a portion of the price of the customary estate agency. New-fangled models have been brought in, which applies digital media screens on behalf of the agents’ customary high street window (Lecinski, 2012). These screens permit these agents to convey their listings into a remote area where setting up a workplace might otherwise not be achievable. A report, in 2010, confirmed that online estate agents normally charge a fixed fee of  £400 to  £1,000, with others charging an extra commission on sales (Lecinski, 2012). Also, others charge extra fees for additional services like the supply of a "For Sale" post, professionally and efficiently taken photographs, as well as accompanied viewings. In Saudi Arabia, particularly, real estate is considered as one of the fastest growing businesses second to oil (Dabholkar & Overby, 2005). Financial experts argue that the construction of 500,000 housing units planned by King Abdullah, Custodian of the Two Holy Mosques, at a price of SAR 250 billion, would assist ease real estate rents and prices. The newly developed mortgage law, as well as its executive bylaw, contain principles for real estate finance and growth and allow banking institutions to support real estate projects. Internet users in this country were last reported at 13,000,000 in 2011, according to a report by World Bank published in 2012 (Muhanna & Wolf, 2013). These are individuals with access to the worldwide web. Therefore, as the nation’s economy and internet user population continues to enhance rapidly, demand for house units will also continue to increase (Muhanna & Wolf, 2013). This opens a window of opportunities for realtors. So, if someone is short of business ideas, then online real estate investment should be considered. Aims and Objectives This dissertation will dwell on this business venture (online house agents) discussing the possible advantages of starting an online house agent website instead of using the customary method. The paper will incorporate sections such as aims and objectives, literature review, research methods and planning to execute the recommendations. This paper will adapt the Goggle and NAR (National Association of Realtors) study in order to come up with its findings. The goal is to assist the reader understand the growing role of digital media in the client home search procedure. It will uncover the trends, as well as insights, around digital media application amongst home shoppers, whether they were searching for home,

Industrial Growth and Competiton Essay Example | Topics and Well Written Essays - 750 words

Industrial Growth and Competiton - Essay Example According to Perloff (2012) Pigouvian tax can be described as a corrective measure undertaken by state or a body with authority usually inform of imposing tax to restore or limit any inefficient market activities. Taxation is applied on a firm that produces negative externality to other firm or the well-being of the entire community. The aim is to equalise the amount of tax imposed to the negative externality. Let us examine a case of a paint manufacturing firm that pollutes a nearby river using various cost concepts. With the absence of any regulation control measures, the firm can maximise its production activity without thinking of the impact imposed on another firm for example, a boat renting firm to families and individual for recreational purposes. In a typical market analysis, the paint manufacturing firm’s output and price relation can be presented in figure 1 below. In the figure 1 below, there are three main cost concepts: marginal social cost (MSC), marginal private cost (MPC), and Marginal Damage cost. Perloff (2012) defines these costs as follows. The private marginal cost refers to all the direct cost incurred by the firm or producer in creating goods or services. He also defines marginal damage as the additional cost to a firm producing additional unit of a product that impose negative externality on others. Further, he defines social damage cost as the summation of private marginal cost and marginal damage to a producer. This can be illustrated graphically in figure 1 below. Initially, the firm’s output level was at Q0due to absence of any regulation. The firm’s primary focus on this particular market scenario, where there is no any form of regulation on production, focuses on how to maximise production output at any given time. However, the need to reduce pollution leads to introduction of a pigouvian tax to make the firm comply with existing production regulation and be mindful of other

Literature review Essay Example | Topics and Well Written Essays - 2000 words - 3

Literature review - Essay Example al 2012). For an average individual, buying services and products is a routine and normal behaviour. For compulsive consumers, incapability to control an overwhelming force defines their buying behaviour. It also leads to substantial and always severe results. A compulsive consumer does not derive his or her utility from a service or product but from psychology during purchase power. For the last twenty years, a strong series of investigation in consumer activities has been in discussion of compulsive consumption phenomenon. This was to show it negative results both in the society and to an individual (O’Guinn et. al 2011). Compulsive consumers accrue unmanageable and vast debt amounts which create emotional and economic problems for them. Incapability to settle off debts then turns into a creditor’s problem. Therefore, the importance of devising and understanding intervention methods to manage and control this activity is vital. Other discussion in this paper has made a focus on marketing strategies and tactics’ role as a risky factor in promotion of compulsive consumption. Consequently, it focuses on marketing role in fostering and promoting this problem activity. This paper therefore, reassesses the literature on the problem behaviour as well as summing up the outcomes in three areas: why do consumers behave in this manner, what are the predictors of compulsive consumers and relations with marketing strategies? The marketing ethics as a risky factor in compulsive consumptions is in the discussion. Compulsive consumption The concept of compulsive consumption in literature has a definition of repetitive, chronic purchasing behaviour which takes place as a reaction to negative feelings or events (O’Guinn & Faber 1989). As individuals purchase compulsively, they buy excess product quantities that they cannot afford and do not require (Hoyer & Maclnnis 2007). This is regarded as a reaction to resolve negative feelings, inner deficienci es or unlikeable life experiences (Faber & O’Guinn 1992). This feeling pushes a consumer to buy goods to help clear negative feelings like frustration and stress (Scherhorn 1990). A compulsive consumer is therefore, motivated to buy goods to clear the negative feelings via alterations in self esteem or arousal level and consequently obtain utility from buying process (Hassay & Smith 1996). To be simple, compulsive consumers act on uncontrollable, powerful urges to purchase (Yurchisin & Johnson 2004) Why do individuals buy compulsively? Recent research has concentrated majorly on identification of personality character associated to compulsive consumption (Shoham & Brencic 2003). For instance, (Valence& Fortier, 1988) say that compulsive consumers have a low self-esteem which make one fantasize, put value on material and high depression levels obsession and anxiety ( Koran et. al 2006) along disappointment, frustration and stress. The fantasy in compulsive consumption has been a point of concentration for researcher. Through fantasy one is able to move away from pessimistic feelings and accept oneself in the society (Faber & O’Guinn 1989). It also allows for rehearsal of expected positive results and a way to avoid concentrating on negative issues. Moreover, when one’ Literature Review Essay Example | Topics and Well Written Essays - 8250 words Literature Review - Essay Example To develop an efficient labelling scheme that can handle an ordered tree-structured data model, various scholars have focused on the aim of developing a labelling scheme that is efficient and effective in handling both static and dynamic XML documents and these approaches are discussed below. In the introductory chapter of this thesis, there were specific objectives which defined the motivation of this study, and its goals. The first area of literature relevant to this goal is an overview of labelling schemes. The second part of the literature review presents and discusses other labelling schemes that have commonly been used with XML documents. The first theme is different from the second because in the first, only the overall approach to the functionality of the schemes are presented but in the second, there will be more detail into the schemes by reviewing the strengths, weaknesses and limitations with these other labelling schemes. By so doing, it exposes the research challenges. Lastly, the literature review will identify the weaknesses and limitations of other labelling schemes to propose alternative ideas for new scheme which helps to address the identified weaknesses and limitations. Section 3.2 of the chapter provides an overview of the labelling schemes, while Section 3.3 presents common labelling schemes used to XML data along with their strengths and weaknesses, such as prefix-based schemes (Section 3.3.1), interval-based schemes (Section 3.3.2), multiplication-based schemes (Section 3.3.3) and vector-based schemes (Section 3.3.4). Section 3.4 discusses the scheme’s characteristics to be seen in any ideal scheme. Section 3.5 summarises the literature review and Section 3.6 concludes the chapter. There are four major schemes that are overviewed in this section. These are prefix-based schemes,

What are the factor causing the record low of 0.3% inflation and what Essay

What are the factor causing the record low of 0.3% inflation and what are the consequnces - Essay Example Lower prices may also be caused by change in structure of capital markets and decrease in currency supply. Thus factors causing the record low of 0.3% mainly emerge from the fall in prices of widely consumed products or services such as motor fuels and food. A fall in price for the two is the main cause of this extremely low inflation level. This has been observed recently in UK. â€Å"The rate of UK consumer prices Index inflation fell to 0.3% in January; its lowest level since records began. Cheaper petrol and lower food prices helped by a supermarket price war-cut the rate from 0.5% in December† (BBC NEWS). Extreme fall in prices, deflation, results into reduced business revenue. Businesses must significantly reduce the prices of their products in order to stay competitive. As they reduce their prices, their revenue starts to drop. Besides, deflation may cause wage cutbacks and layoffs. Drop in revenue of companies forces them to reduce their expenditure to meet their bottom line. One of the possible ways to cut the expenses is by reducing wages and cutting positions. Additionally, extreme fall in inflation level may increase purchasing power (BBC NEWS). Consumers may substantially take advantage of the lower prices by increasing their

Variety Xian Experience Essay Example | Topics and Well Written Essays - 2250 words

Variety Xian Experience - Essay Example It is safe to state that faith is the bedrock of Christianity as a religion. "As a system of faith, Christianity manifests 'faith' in all the various meanings that this term has acquired in the history of religion: as loyalty to the divine, based on the prior loyalty of the divine to the world and to humanity; as the confidence that God is trustworthy in truth and love; as dependence on the Father of Jesus Christ, who is the source of all good in this life and in the life to come; as the commitment to direct thought and action in accordance with the divine word and will; and as the affirmation that certain events and declarations, as given by divine revelation, are a reliable index to that will and word. It is the last of those meanings that provides a basis for describing in an epitome what it is that Christianity believes, teaches, and confesses. It is all about having faith in God," (Pelikan 2005). Prayer is the door that opens unto a storehouse of treasures. Even Jesus Christ ope nly confessed that, "ask and it will be given you; seek and you find; knock and the door will be opened to you. For everyone who asks receives; he who seeks finds; and to him who knocks, the door will be opened," (cf. Matthew 7:7-8). Th... Confessions, II, 2). Therese Elizabeth enthused about the sweetness and the wonder of the divine guidance she received from God (cf. J.M.J.T, p.14). No better way to summarize the magnanimity of God's consolations towards mankind than in these words of Kempis: " Christ will come to you offering His consolation, if you prepare a fit dwelling place for Him in your heart, whose beauty and glory, wherein He takes delight, are all from within'. His peace great and His intimacy wonderful indeed," (cf. Imitation, II, p.208). Certainly, from these primary experiences, it could be noted that the individuals who have realized the importance of prayer naturally make it easier for people back then up until the present time to actually be able handle life challenges successfully. Being the main channel of communication between God and his faithful followers, prayer plays a great role on the process by which true Christian s are able to create a fine relationship between them and the God that they worship. It is undeniable that prayer indeed plays a huge role within the development of the belief and faith that Christians put upon God. SINCE earliest times men have felt the need to pray to God. Realizing their own insignificance and inability to reach him without help, they have invented numerous "aids" to prayer. Some persons use prayer books. They read prayers that have been written for various occasions, hoping that these will help them to gain God's favor. Others pray to saints, asking them to intercede with God in their behalf. Another common practice is that of memorizing prayers and using a rosary to keep track of how many times these are said. However, even some religious leaders in churches that use these aids consider them

Marketing Fundamentals assignment (referral) 2 Essay

Marketing Fundamentals assignment (referral) 2 - Essay Example Hutchison Whampoa Limited is an international corporation having many diversified businesses including port operations, retail, property development and infrastructure, technology, and telecommunication operations. 3G Mobile Services is a mobile media company that operates from United Kingdom. The main businesses include communications, media and entertainment and information services (Hutchison 3G UK Limited, 2008). It is critical that target market for company's products and services is identified and analyzed. The target market where the company will operate and the customers to target pose significant insights into the demographics, market structure and other parameters. A proper research can provide credible results that can then be used to develop positioning and targeting strategies. Companies can access the market and capitalise on the endless opportunities only if these companies can understand the exact requirements of the target customers and modify their products and services accordingly. In addition to product and services development, the companies need to decide on the pricing of their products and services. The right price may spur the sales but too high or too low a price will definitely affect the company negatively. Pricing is a critical decision and hence can only be taken if exact market information is available. This decision has far reaching effects. Market is se Market is segmented based upon demographic factors like age, preferences, gender, and other factors related to potential customers; geographic factors like location, climate, population, etc; psychographic factors like attitude, lifestyle and values; and/ or behavioral factors like usage rate, brand loyalty, etc (Eztel Walker Stanton, 2003). Market Segmentation for 3G 3G has chosen United Kingdom as its primary target market based on its specific geographic factors like high population density, and relatively better law and order conditions, etc. This is also because of 3G's expertise and experience to operate in this region and the huge inroads that the company is able to create inside the big UK market for mobile communications. Being a mobile media company, it is critical for 3G to develop its products and services with specific focus on the UK's customer requirements. Based on the analysis carried out by 3G, the company identified various segments of mobile phone service market in UK. Some of these market segments that 3G identified during their market segmentation research are discussed in the following sections. With the advent of modern technology, only a small segment in the target market wants to use mobile phones for making and receiving phone calls only. They prefer various other features with their mobile phones. These factors are all based on the demographic, behavioral and psychographic factors that were considered by 3G during the research for market segmentation: Video Calls Many users (especially in the 15 - 40

Income Distribution Essay Example for Free

Income Distribution Essay The total wage of a private sector worker is of US$137, 9 dollars per month; as it is considered that in each family has other income, and the minimum income per family will be of 224 dollars per month. This wage allows family to buy 67% of the basic basket, it is to say a little more than half of all necessary articles, and a restriction of 33% in the consumption of basic articles exists. The dolarization did not mean a revaluation of the wage as the government raised, it rather constituted a cut of the income, since the prices of goods and services were internationalized, while the wages stay depressed, in relation to the life cost. The concentration of wealth and work in Ecuador is acute; 1. The 2 % belonging to the poorest receive 0,015% of the national entrance, and they gain 1270 times less than the wealthier 2% of the population. 2. The 20% belonging to the wealthier receive 58,7% of the national entrance. Poverty: The accumulation of wealth in the hands of the monopolistic groups has like counterpart the poverty and the extreme poverty for the majority of Ecuadorians. In Ecuador the poverty borders 80% of the population and from these, 20% are in extreme poverty. Poverty in Ecuador has a structural character and a massive incidence. It is structural because historically the economic conditions have been created, socially and politically to consign to a great number of the population of its participation in the production and wealth of the country. That is to say, in Ecuador the poverty is not a consequence of the lack of resources or natural wealth but to the form in which the Earth property and other resources have been, and in the relations of dependency with the central capitalist countries. From year 2002 the situation has been more difficult still, the inflation rate (91%), the percentage of the General Budget that the government destined for the payment of the external debt (51%) caused greater poverty. In 2003 the amount that the state will destine for the payment of the external debt, will be of 2. 200 million dollars. CONCLUSION The present essay has studied the historical evolution, present situation and perspective to medium term of the Ecuadorian external debt. We can make a synthesis of the most important aspects of the mentioned analysis, which will allow us to verify the validity of the question posed. The use of external resources with aims of current consumption, mainly on the part of the governmental sector, has been one of the main causes so that the productivity of the outer finance is limited. The loans produce little or no finance and it causes economic yield in the increase of current expenses, which has given rise to the countries finances consumption on the basis of the external saving, and the weight of the debt for the following years was loaded. On the other hand, the elevated rate of triggered internal inflation as of 1990, took place partly due to the funding of the originating resources of the outside by concept of external loans that, through the global budget of the state, entered circulating means. In addition, the high cost of the loans, by the majority including banking credits, in the last years has determined the rate of yield of the capital for the projects financed with external contribution, must be sufficiently high, so that it reaches a greater level than the cost of the external indebtedness. The increase of the imports, mainly as of 1990, has also been a factor affecting the trade balance; therefore it has been necessary to obtain free currencies to pay these external obligations. This growth of imports has been due to a great extent in dependency of the national manufacturing industry, of the capital assets and foreign raw materials. The country has been unable to obtain adequate levels of resource surplus, as a percentage of exports, given the prevailing conditions of export growth and was required to decrease the growth rate of its external debt over time. Even though credit from multilateral is the only source of financing available, it is clear that there is a lack of planning of investment projects. The United States eliminated government funds due to problems of political nature, principally due to the fact that the country has an income per capita of US $ 360 annual. The debt of the private sector has a determining incidence in the deterioration of the balance of payments, although it does not cause a financial load when one is originating currencies of exports, in order to cancel the service of this debt, in 1995 the service of the same one will represent approximately, 8. 5 % of exports of goods and services, whereas for 1998, that relation will raise 12%, level that we considered alarming if it is taken into account that this index, for service of the debt in the public sector, will be, of 20% in 1998. It is evident that the existing legislation in Ecuador, on the administration of the indebtedness, has been a very important factor in the decisions that have been adopted in matter of policy of external financing, although the cases have not been few in which the government has made decisions from economic order moving away of the effective legal procedures, reason why the control problem of the Ecuadorian outer debt is deduced, as a lack of exact fulfillment of the law. The policy of the external indebtedness, from the economic and legal point of view, has had faults as much in its application as in its fulfillment, cause of which the external resources entered the country to finance their way, they do not have an optimal use, specific and productive, and on the contrary they have meant at certain moment a serious limiting economic growth for the country. Therefore we can firmly say: that the external debt has had an impact In Ecuadors Economic development.

Scientific Management - for a Different Time and Place Essay Example for Free

Scientific Management for a Different Time and Place Essay Scientific Management was first described by Frederick Taylor in the late 19th century. Its relevance to modern day management is widely debated in academic circles. In this essay, I will address the question of whether Scientific Management has a place today, in a 21st Century Knowledge Economy, or whether it belongs to a ‘different time and place. I will argue that much of modern management practice is derived from Taylor’s theories and that in this sense his work is very relevant. Next, I will examine the context in which Taylor developed his principles and contrast this with the contemporary context. Then I will evaluate the relevance of each of Taylor’s 4 Principles to today, with help from a case study of the NUMMI car manufacturing plant. Finally, I will examine the modern forms of Scientific Management, and what the future holds. Standing on the Shoulders of Giants: The Academic Contribution of Scientific Management â€Å"Every method during these past hundred years that has had the slightest success in raising the productivity of manual workers – and with it their real wages – has been based on Taylor’s principles. (Drucker, 1999) Taylor’s Scientific Management played a crucial part in the formation of management as an academic discipline. Many of our modern systems are built on the foundations laid by Scientific Management and elements of this are still clearly visible in modern business practice. Before Taylor’s ideas, business management was not taught or even considered a discipline. It was seen as a matter of personal style and that there was no ‘one best way’. Taylor challenged this idea and laid the foundations for management to be studied and evolve. He believed that management should e trained and qualified. Harvard, one of the first universities to offer a degree in business management in 1908, based its first-year curriculum on Taylors scientific management. Scientific Management influenced many thinkers, including James McKinsey, founder of the consultant firm bearing his name. McKinsey built on Taylor’s ideas and advocated budgets as a means of accountability and measuring performance of managers. Today the McKinsey consulting firm is one of the prime contributors to management thinking; hey believe that Scientific Management is the future, an idea which will be contested later in this essay. â€Å"Before scientific management, such departments as work study, personnel, maintenance and quality control did not exist. † (Accel-Team) Taylor’s philosophy was important in the development of principles of management by theorists. Scientific Management advocated the division of labour, the separation of planning from operations, clear delineation of authority and the use of incentive schemes for workers. Taylor greatly contributed to the analysis of work design and gave rise to method study, including his time studies, which are described later in this essay. Management literature has taken many new twists since Taylor’s day, with Drucker coining the term â€Å"Knowledge Workers† in 1959. Drucker’s book Landmarks of Tomorrow, describes the declining importance of manual labour. This marked a need to move away from Scientific Management, a system based on physical standardised tasks. In 1980, management evolved further away from SM when Richard Hackman and Greg Oldham argued that workers need meaning and responsibility in their work to perform well, in their book Work Redesign. This idea contrasted with the disregard to the worker’s emotions and humanity in SM. The Context of Scientific Management: Does the Purpose It Was Developed for Have Any Relevance Today? Scientific Management was designed with physical labour in mind. Taylor was inspired by what he observed in the steel industry, and developed a style of management which could be applied to the construction, processing and train industries among others. Today, tertiary activities form the majority of the economy in developed economies. Taylor’s system was designed in a time when secondary activities were just replacing primary activities as the largest sector, and tertiary activities were hardly developed at all. From this comes the argument that today we have moved into a knowledge economy and a new style of management must replace the now obsolete Scientific Management which was designed for standardized physical tasks. Gary Hamel terms this new style ‘Management 2. 0’. Taylor developed SM to counteract phenomenon of soldiering which he encountered in the steel industry. The reasons for soldiering were as follows: â€Å"1. The almost universally held belief among workers that if they became more productive, fewer of them would be needed and jobs would be eliminated. 2. Non-incentive wage systems encourage low productivity if the employee will receive the same pay regardless of how much is produced, assuming the employee can convince the employer that the slow pace really is a good pace for the job.  Employees take great care never to work at a good pace for fear that this faster pace would become the new standard. If employees are paid by the quantity they produce, they fear that management will decrease their per-unit pay if the quantity increases. 3. Workers waste much of their effort by relying on rule-of-thumb methods rather than on optimal work methods that can be determined by scientific study of the task. † (NetMBA, Business Knowledge Center) Soldiering is not a common practice in knowledge economies. The problem that Taylor developed his principles around are from a ‘different time and place’ as these three reasons are largely non-existent now. The first reason for soldiering is no longer a problem because today incentive wage systems encourage high productivity through bonuses. Workers believe high productivity will result in promotion rather than jobs being eliminated. In the successful NUMMI car manufacturing plant a no layoff policy was employed to ‘eliminate workers’ fear that they are jeopardizing jobs every time they come up with an idea to improve efficiency. ’(Adler)

The Cultural Homogenisation And Heterogenisation Cultural Studies Essay

The Cultural Homogenisation And Heterogenisation Cultural Studies Essay Taking a unilayered view on culture can easily result in limited equations such as homogenisation does not equal homogenisation, since homogenisation evokes heterogenisation, and both processes are occurring at the same time. Yet, by using Rams concept (2004) of the one-way institutional homogenisation and two-way symbolic heterogenisation level enables us to differentiate where homogenisation and heterogenisation are taking place. Lets consider some examples to grasp this concept. In Rams example, Falafel, Israels national dish, which was on its demise, experienced a renaissance through the arrival of hamburgers. He argues that McDonaldisation represents homogenisation on the institutional level (victory of foreign culture) and the renaissance of falafel represents heterogenisation on the symbolic level (victory of local culture). The examples of the tattoo culture in Japan (Yamada, 2009), and the Toraja culture (Volkman, 1984) exhibit a similar pattern. In the Japanese culture, tat toos have long been appreciated, particularly since earlier beginnings of the mid 18th century, when so called full body suits tattooing started. This culture has been evident in the population groups of lovers, geishas, prostitutes, and criminals. Yet, the Meiji Restauration in 1868 led to Westernisation and changed Japanese attitudes towards tattoos. What was initially viewed as spiritual and stylish suddenly changed to be viewed as abhorrent. Japanese tattoo culture, however, experienced a renaissance through incorporating American one point tattoos. In the case of the Toraja, an ethnic group in Indonesia, lengthy funeral ceremonies experienced a revival. Through improvement in mobility, thousands of Torajans immigrated to Massakar and other places in the 1930s to find jobs. Most of them were open-minded, well-educated young people that had converted into Christianity. When they came back to Toraja they did not try to eradicate traditional funeral practises and replace them with Christian or more cosmopolitan values, in the contrary they were the main promoters to revive the tradition. It is important to understand that the above mentioned revivals did not merely bring back a dying tradition. However, they brought back an old tradition with redefined meanings. This is particularly evident in the case of falafel, which lost its unique taste, is nowadays served indoor, and produced in a standardised manner. Therefore, the feelings attached to buying a falafel are very likely to have changed compared to 50 years ago. Furthermore, one-point tattoos do not bear the same spiritual meaning as full body suits tattoos, and funeral ceremonies in Toraja are nowadays more a practice to attract tourists, and showing off wealth. Put simply, they lost its spiritual meaning and authenticity. Rams concept is a very useful, differentiated concept for understanding the forces that shape cultural homogenisation and heterogenisation. Nevertheless, it is limited in its assumption that homogenisation on the institutional level is a one-way street (Ram, 2004, p. 24). Yet, it is much more a two-way street with different proportions of power as the expressive symbolic level (ibid., p. 23). Polarisation Contemporary scholars such as Appadurai (2006) and Lieber Weisberg (2002) question Samuel Huningtons theory of Clash of Civilisations. Appadurai claims that the theory is flawed since it leaves only geography, instead of emphasising ideology. He therefore suggests renaming the polarisation theory into Clash of Ideocide. Furthermore, Lieber Weisberg argue that the clash is rather within than between cultures. I prefer Appadurais, Lieber, and Weisbergs views, because they shifted the topic from the ethnic to an ideological level and acknowledge deterritorialisation, which will be discussed in the next section. Even though, Huningtons concept is flawed, he might be correct with his notion of polarisation. As an example let us consider Axelrods (1997) experiment in the field of cultural convergence, which contributed to shed some light on this debate. He developed a mathematical model, which he used to find out how many stable homogenised states remain at the end of the experiment (a r un). His model is based on the assumption that the more similar cultures are to each other, the more likely they will eventually homogenise. The number of stable homogenised regions at the end differed depending on the run. His findings indicate amongst others that polarisation increased the more cultural features (cultural dimensions) were used, because of the higher probability of being similar on one of the features. However, the more traits were attached to a feature the more stable homogenised states resulted at the end, meaning less polarisation. For instance, a feature could be the language people speak, and the traits the various alternative languages that might be spoken in that particular state. This model, however, has its limitations like any other model. In my opinion, the model correctly assumes that similar cultures are more likely to become homogenised. But it lacks to consider the inverse effect of heterogenisation, which we could observe in the examples of falafel, Toraja, and tattoo culture. Additionally, his attempt to simulate interconnectedness resulted in regional- rather than global interconnectedness. Nevertheless, the experiment demonstrates that polarisation can take place under certain conditions, and that the outcome of polarisation is ambiguous. This supports the transformalists view that the massive shake out, caused by globalisation, remains uncertain (Giddens, 1996). It is doubtful that cultures become polarised at an ideological level, as individuals have the desire to distinguish themselves from others by nature (Axelrod, 1997). However, it is conceivable that future events, which people associate with religion, could indeed lead to a Clash of Ideocide, leaving two or three clear distinguishable, unharmonisable, and antagonised cultures. Complexity of measuring culture Even though, plenty of research has been done in the field of measuring cultures, e.g. by Trompenaar and Hampden-Turner (2008) or Geert Hofstede (2003), present studies provide us with limited results. To think that we can measure cultures rests on the assumption that there is in any case a definable, lived national culture(Held, 1999, p. 369). Yet, being British or American does not define who you are: It is part of who you are (Legrain, 2003, p. 6). Furthermore, societies do not share values and interests. They are rather contradicting social structures, which are constantly trying to find compromises (Castells, 2009). The phenomenon of deterritorialisation is also particularly making it difficult to determine the trajectory of globalisation. This concept represents the uncoupling of territory and culture through world interconnectedness (Held, 1999). A few clicks suffice to connect with the world and get exposed to the foreign. However, according to Wolfgang Welschs concept of Transculturality (1999) there is nothing absolutely foreign anymore, since everything is within reach. A notion which is in accordance with Appadurais view that there is no distinct we and they anymore (2006). Yet, foreign cultures are not within reach for everyone. There exist huge inequalities between countries and within societies when it comes to internet access (Held, 1999; ITU, 2009). In this context one could ask to which extent the not-haves influence the countrys elite, which is connected to the world? And how much do foreign television programmes and homepages influence a society? To answer this question one could utilise Giulianotti and Robertsons concept regarding migration strategies (2007). It assumes that individuals use strategies to either accept or reject foreign ideas and practices. Taking that as a basis, we can conclude that individuals do not passively absorb foreign cultural traits. They either actively absorb them because of preference or convenience or actively reject them. Lets consider an example to illustrate the complexity of this subject. Think of a Norwegian businessperson who newly drinks coffee at Starbucks in Oslo. Does that tell us how American he has become, if at all? Did the meaning he attaches to coffee change in any way? From this example it should get clear that by only analysing hard facts, such as counting the number of McDonalds, BMWs, Swiss Watches, etc. in a country cannot give us a comprehensive answer of how homogenised cultures are. However, it is beyond doubt that the explicit cultural layer is influencing the implicit one; the question is rather to whi ch extent. To determine the magnitude of this influence is indeed a tough nut to crack. As we discussed earlier in this section, societies are contradicting social structures comprising people with different cultures. Therefore, one can assume that different personalities take different decisions in rejecting and accepting foreign cultural traits. Lets assume an example of a French citizen that regards himself as cosmopolitan, speaks seven languages, travels around the world but is fighting in the front line for rigorous migration policies in his country. In this case he welcomes global cultural flows to France, with the exception of unqualified immigrants and refugees, which make part of the ethnoscape one of Appadurais five cultural flows (Appadurai, 2002). In contrast, another French citizen might feel responsible to help those people in need, however, might reject any foreign ideology that is not in accordance with his religious view. Who in this case is now the cosmopolitan and who is the heartlander (Goh, 1999)? This favouritism towards particular types of global isation flows is also evident in the example of the Israeli businessperson Ezer Weizman. He was a renowned car importer with strong business connections to the US. Yet, he fought at the forefront against the three Ms: McDonalds, Michael Jackson and Madona (Ram, 2004, p. 18). The same particularistic behaviour shows the Indian elite that basically hates American lifestyle, however, sends their children to US universities and tries to pursue the American dream (Appadurai, 2006). In the Middle-East this phenomenon is called Muslim schizophrenia (Lieber Weisberg, 2002). The final example to illustrate my point, uses the case of the Russian youth who welcomes technological advances such as iPods but does not want to emulate the spiritual nature of American lifestyle (Macgregor, 2008). Conclusion This essay demonstrated the complexity of this topic and showed that polarisation, homogenisation, and heterogenisation are simultaneously shaping contemporary society. I therefore support the view of the transformalists who believe that the direction of the shake out, caused by globalisation, remains uncertain. Nevertheless, we might ask which concept is more prevalent in contemporary society. In my opinion it is homogenisation, since the homogenisation process on the structural level is very intense and the heterogenisation process, like Ram stated, rather symbolic. The homogenisation process is mainly driven by communication technology, education, human rights culture, business attempt to eliminate difference, and the desire to increase efficiency through latest technology. It can be expected that those drivers of homogenisation will continue to shape society in the future. Homogenisation, however, will neither reach its pure form nor remain static, as people want to distinguish themselves by nature and will actively reject foreign cultures. At this point, I want to emphasise that the homogenisation trend might shift in some decades towards a dominance of heterogenisation or polarisation. Issues like climate change, wars, shifts in economic and political power, and dramatic events that people associate with religion could have unpredictable outcomes.

Hhv-8 :: essays research papers

â€Å"Human Herpes Virus-8 (HHV-8) and Kaposi’s Sarcoma (KS)†   Ã‚  Ã‚  Ã‚  Ã‚  Human herpes virus (HHV-8) poses a challenging task for researchers determining its role in Kaposi’s sarcoma (KS). People with KS are distinguished by their placement in four categories. The first category consists of elderly males of Mediterranean or Eastern European Jewish descent. The second category consists of individuals of all ages from Africa. Neither one of these categories is associated with immune deficiency or known environmental factors. The last two categories are associated with organ transplants or HIV-1. In all forms of KS males are predominantly affected.   Ã‚  Ã‚  Ã‚  Ã‚  Kaposi’s Sarcomas are known to harbor cells known as spindle shaped cells (SC). The spindle shaped cells are associated with abnormal blood vessel development and blood leakage. Although, the SC is the most frequently encountered cell in KS tumors it is undetermined if they are neoplastic cells or hyperproliferating cells or an altered cell induced by cytokines (INF-).   Ã‚  Ã‚  Ã‚  Ã‚  Although, it is easy to believe that all cells in a tumor are neoplastic, evidence suggests otherwise. There are three characteristics that are present in all KS cells whether they are neoplastic or not. The first is absence of a histologically distinguishable neoplastic cell. The second is the lack of usual chromosomal abnormalities. The last is a combination of three features angiogenesis, inflammation, and proliferation.   Ã‚  Ã‚  Ã‚  Ã‚  The one factor that brings the four categories of people infected with KS is HHV-8 found in KS tissues. Although, HHV-8 is thought to be connected to KS, HHV-8 itself has very low risk factor for KS development. Most reports on KS indicate a 2% to 10% prevalence of HHV-8 in the world, but in the U.S. there is thought to be a 5% prevalence among men according to a 1970s baseline incidence of KS. In relation to HIV-1 incidence of KS increases by a factor of 20,000 to 50,000 times with the presence of HHV-8.   Ã‚  Ã‚  Ã‚  Ã‚  It is postulated that HIV-1 infections promote HHV-8 replication indirectly by suppression of host immune systems. KS is thought to begin with micro-vascular lesions mediated by different environmental factors for each of the four categories of KS. One of these factors is abnormal cytokine production; in HIV-1 associated KS, this includes an increase in inflammatory cytokines, such as IFN , TNF , and IL-7 that are enhanced by Tat of HIV-1. Tat which is essential for HIV-1 replication is released and taken up by other cells, where it inhibits T-cell proliferation and promotes abnormal cytokine production, adhesion, and growth.

Existentialism :: essays research papers

Existentialism is perhaps one of the world’s oldest philosophies. It has been dated back to nineteenth-century Danish and Greek philosophers. It is a simple idea, yet it has so many different ideals within it that it is almost impossible to define. There are many parts that make up one whole, basic idea. The many parts have been defined by famous existentialist artists and writers such as, Nietzsche, Chamfort, Sartre, and Kafka. These works have all proven many points about existentialism; however, even the pros cannot decide on one basic idea. That is why there are so many different interpretations of this famous ideal. If there were a single definition it would have something to do with having your own ideas and being free to choose any path.   Ã‚  Ã‚  Ã‚  Ã‚  If you were a believer in existentialistic ideals chances are you would not participate in society and/or your own life very much. Albert Camus believed that to be a true existentialist you had to remove yourself from society as much as possible since a belief in the foundation of government was to conform. Conforming to society norms is considered bad, it doesn’t allow the individual to progress and reach his own decisions Camus realized, however, that restricting himself from all social conformity was impossible. In his award-winning book, The Stranger, Camus depicts a man with very little emotion. Once in a while he shows a bit of heart, but for the most part, he is gives a robotic appearance. This character is based on existentialistic views, he tries to stay out of society as much as he can. He does the same thing from day to day. The character expresses no feeling about anything except that light is a sign of evil or annoyance, while the dark becomes a place of calm and seriousness. In society, the common idea is that light is good and evil grows in the darkest of places, but in Albert Camus’ novel, evil is good and the light is bad. They’re many other parts of existentialism. Camus influenced many of the writings on this subject although he did not stand unchallenged.   Ã‚  Ã‚  Ã‚  Ã‚  Many existentialists believed that man had no reason for life. In other words, there was no God and no reason to live life with rules of any kind because there is nothing in the end anyway. This thought did not gain the existentialist popularity with many religions.

New Media Artists on the Internet :: Internet Net World Wide Web Media

New Media Artists The enormous success and popularity of the Internet and new media as a whole have changed society in many ways. Artists have begun to use new media to deliver their works. As the artists use new media such as the Internet, the medium in which the work is delivered has become part of the artwork itself. In old media the book in which a story was printed is not part the literary piece of art. Ed Falco’s â€Å"Self-Portrait as Child with Father† and Olia Lialina’s â€Å"My Boyfriend Came Back From The War† are examples of McLuhan's message that the medium is the message. Both artworks are examples of new media art as defined by Lev Manovich in â€Å"The Language of New Media†. The introduction of new media art forms have changed the role of the artist, as the medium of digital art has now become the message itself making the individual ideas, perspectives, and narratives of the artist less important to the artwork as a whole. Marshall McLuhan is one of the first to articulate some of the social consequences of the great technological advances of the 20th Century. In his book â€Å"The Medium is the Message† from 1964 he introduces the idea that with the use of the new media as forms of communication it is the medium itself that is the message and he explains that, â€Å"This is merely to say that the personal and social consequences of any medium†¦result from the new scale that is introduced into our affairs by each extension of ourselves, or by any new technology† (Liu 1). The message will therefore change according to the medium. As we will see with new media art, the message would clearly be different if Ed Falco’s â€Å"Self-Portrait as Child with Father† was read linearly in a traditionally printed book than when experienced in its actual online non-linear presentation. Olia Lialina’s â€Å"My Boyfriend Came Back From The War† is presented similarly as a n online non-linear artwork. These artworks are interactive in the sense that the reader must click on links to read the story, or using a traditional turn the reader must click the link to virtually turn the page. Since there are multiple links at the same time the different pages are read at different times and in different order from reader to reader. It is therefore the case that no two readers of the artworks will have the same experience and opinion about them.

Financial Planning Essay

A successful company has to have skilled workers in each level of the organization from top management to regular employees. A successful company must have good working relationship with suppliers and customers outside the organization as well. A successful company has to have enough funding to be able to execute the company’s plans and operations. Financial planning is a process that estimates the capital required and determining the company competition. It is important for a company to have financial policies in place for the organization to be successful. The objectives of financial planning are to figure out capital requirements because this will help determine cost of fixed and current assets. In the capital requirement process long and short term requirement has to be evaluated. A company must determine the capital structure of their organization, such as composition of capital and what capital needed for the business (Heer, 2012). In a business it is important to have a system in place to protect the lending and cash control situations. One of the positions that can help with financial planning is a financial manager, which is a manager that can make sure the resources of the company is being utilize to their best of the company ability. Financial planning is an important process that each company needs to use created objectives, implement policies and procedures. It is important to have adequate funds for the organization. Financial planning helps companies keep track of outflow and inflow of funds, which can create stability for the company (Ehrhardt & Brigham, 2011). It is vital for the company to make sure the suppliers investments are put back into the company. Financial planning is a process that can continue to help the company grow and expansion at the rate necessary for the company success. There is a lot of uncertainty with companies’ financial abilities but with the proper financial planning the uncertainty can be avoided. A company’s financial plan is used to help make the day-to-day decision within the company operations (Vietz, n.d.). By using the right financial information can determine the health of the company financially. No matter  what company a person has it is important to have financial plan in place. A company must plan right because financial burden come up and the company needs to be in a position to have funds available for the burden. A company must have capital to survive in the business world. A business knowing the proper way to financially keep the company making profits is a crucial step in doing business. A business use financial planning to help determine when revenue is up for the period and when revenue is down for the period. This is an important process because this will help determine when to buy product or services and when not to buy. It is vital for the owner to take these low points of revenue into account because expenditures will need to be tight (Ehrhardt & Brigham, 2011). If the company has poor cash management, the payroll can be affected. By having a financial plan in place will help keep financial stability for the company. A company can have a competitive advantage by being financially ready to purchase inventory at a reduced price. Financial planning helps long-term business decisions work through planning and time management. The planning process can maintain financial stability for the company growth and make sure the company is moving in the right direction (Murphy & Yetmar, 2010). It is vital for the company to implement a strong financial plan for the company’s future growth. Growth is an opportunity for the company to stay competitive in the markets and develop strong financial ideas. A business needs to compare actual results to quantifiable targets in order to be able to know if the financial plan is working for the company. An example of the financial plan working effectively would be the company gives the marketing department an increase in the advertising expense account, which leads to a large jump in sales (Vietz, n.d). This is financial planning at its best, working to improve the company’s profits. When the profits are growing then the business can continue to grow and develop. For some small businesses financial resources must be monitor and provided when needed because finance can be used quickly in small businesses.  Financial planning can help a business owner understand the different projects going on and how much funding is needed. Some projects will be more important than others. Many companies use financial planning to improve efficiency, productivity, and market increase (Heer, 2012). Financial planning is a process that every company needs to invest money and resources into. Conclusion A company is in business to make money. This is why financial planning has high value to many companies. Financial planning is a guide to help make day-to-day decisions for the company. Financial planning has help with cash management through knowing the short and over of cash transactions. Short and long terms decision has to be made for a company to have success. Financial planning has help spot trends within the business operations. The owners knowing the right expenditures the company is pursuing can help operations stay growing. By having the right financial planning system in place will develop the company into a success. References Ehrhardt, M. C., & Brigham, E. F. (2011). Corporate Finance: A Focused Approach. South- Western Cengage Learing. Heer, R. (2012). How agile is your planning? Find out by measuring the ROI of your planning Software. Strategic Finance, 45. Murphy, D.S., Yetmar, S. (2010). Personal financing attitudes. Management Research Review, 33, (8). 811-817. Vietz, O. (n.d.). Financial Forecasting Tools. Retrieved from http://smallbusiness.chron.com /financial-forecasting-tools-4583.html