Characteristics Of Culture And International Business

I. Introduction What is culture? In the textbook the authors give a simple definition, which is, â€Å"The sum of the beliefs, rules, techniques, institutions, and artifacts that characterize human population.† Though this is a good definition it needs expanded, there is a vast amount of culture in this world and one cannot simply put culture into a few sentences. Many people have dedicated their time to studying culture, these people can be referred to as anthropologists. Thus far they have discovered that culture is something that is acquired through personal experiences. Anthropologist have also hypothesized that many characteristics of culture are connected. These characteristics of culture create the distinction between various social groups. Culture is something that is very important to several different fields. Since culture is subjective, a deeper look at what it entails and the role it plays in global business is essential. II. Culture and International Business To be involved in international business, it takes a special type of person. This is the rare moment in business when it is essential to have the openness and ability to acquire knowledge about other culture besides our own. It is believed that culture cannot be simply studied; one has to be there to experience it. This phenomenon can be referred to as sociocultural. The longer someone is subjected to a culture, the better business official they will be. Before a business official leaves their home country,Show MoreRelatedTypes Of Company Traits That Builds And Sustain Companies Growth1459 Words   |  6 Pagescauses companies to disappear. This is to support the positive traits that are recommended for companies to follow and improve chances for survival. Multiple studies on business success have found similar traits shared by successful companies. A global quantitative research is suggested for more accurate results of successful characteristics. Companies’ Success and Failure Based on Traits A study by Kelly (1997), surveyed 30 companies that have survived for over 75 years. The study showed that organizationsRead MoreThe Issue Of Language Boundaries838 Words   |  4 Pageswhen everybody enter to new culture. Everybody need struggle to communicate what they want to get necessary information regarding new culture. The findings suggest that the language barrier generates negative emotional. There are so many differences like Body languages, eating food, Cloths wearing, communication. This paper describes the most well known and accepted new cultural with international language. These theories consider relations between new people And new culture. Introduction The pointsRead MoreUnderstanding Cultural Dimension : Strategy For Globalization Business1596 Words   |  7 PagesGlobalisation Business The maritime industry is a kind of vast business, which usually develop into multinational business. This business will involve many people from other countries. Since, the ship moves from one to another country, communicating with people from another country with different cultures is inevitable. Culture was defined by anthropologist as learning and sharing concept, value and belief or can be said as an adaptable system (Lyman, 2008). While, in the wholistic sense, culture can beRead MoreThe International Business Field And The Entrepreneurship Field940 Words   |  4 Pagesexploiting it for growing the effectiveness of new business venturing as well as small and medium size businesses. There are studies that think of international entrepreneurship as more of a common marvel than young ventures entering international markets and slight interest is dedicated to the entrepreneurial behavior of organizations once they first enter into international markets. There is an inequality among the international business field and the entrepreneurship field, Read MoreCultural Dimensions Of Brazil And China1501 Words   |  7 Pages GCIM International Business and Management Assignment 1 Cultural Dimensions of Brazil and China Nouran AlSahhaf @00413902 â€Æ' Table of Contents Executive summery†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..3 Cultural Dimensions†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.4 Power Distance†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.4 Power Distance in China†¦Ã¢â‚¬ ¦................................................†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..4 Power Distance in Brazil †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.5 Uncertainty Avoidance†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.5 Uncertainty Avoidance in China†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Read MoreIntroduction To International Commercial Arbitration915 Words   |  4 Pages Introduction to International Commercial Arbitration Producers of goods and services have grown their business activities up to transacting their items across various nations of the world. Many business people or entrepreneurs have expanded their properties and businesses to an international level. This has largely contributed to the crossing of large amount of goods from various countries to others, an activity which is commonly described as importation and exportation of products, propertiesRead MoreEffect of Culture in International Business Essay1492 Words   |  6 PagesIntroduction Culture is an important part of International Business. Culture is defining the collection of values, beliefs, behaviours, customs and attitudes of the member in the society. Culture is the behaviour that people act in the community. The characteristic of culture is also reflects learned behaviour that is transmitted from one member to another in society. There are also basic elements cultures such as social structure, language and religious. So the foreigner who wants to operateRead MoreUnderstanding National Culture And How Relevant Is Important Essay841 Words   |  4 Pagesapproaches to understanding national culture and how relevant is such an understanding to an internationalising firm. â€Æ' Index 1.- Introduction 3 2.- Aproaches to National Culture 4 2.1.- Hall’s Context Culture Model 5 2.2.- Hofstede s Cultural Dimensions Theory 5 2.3.- Trompenaars Model of National Culture Differences 5 3.- Conclusion 6 4.- Bibliography 7 â€Æ' 1.- Introduction According to Hofstede definition, it is possible to develop the idea of national culture as a culture for a particular group of humansRead MoreLink Between Emotional Intelligence and Cross-Cultural Leadership1033 Words   |  5 PagesReilly, A.H. and Karounos, T.J. (2009), â€Å"Exploring the Link between Emotional Intelligence and Cross-Cultural Leadership Effectiveness†, Journal of International Business and Cultural Studies, Vol. 1, Feb. 2009, pp. 1 – 13. Introduction Along with the globalization of business, many corporations are facing the challenge of operating in a different culture. The writers made a connection between emotional intelligence and cross-cultural leadership effectiveness to deal with this situation, this articleRead MoreUncertainty avoidance997 Words   |  4 Pagesthan principles. People in cultures with high uncertainty avoidance tend to be more emotional. They try to minimize the occurrence of unknown and unusual circumstances and to proceed with careful changes step by step by planning and by implementing rules, laws and regulations. In contrast, low uncertainty avoidance cultures accept and feel comfortable in unstructured situations or changeable environments and try to have as few rules as possible. People in these cultures tend to be more pragmatic,

My Sons Story By Nadine Gordimer Themes and issues in...

Throughout her career, the South African novelist Nadine Gordimer has wanted to explore the terrain where personal interests, desires and ambitions encounter (and, not rarely, contend with) the demands and trials of a politically active life. She has had a keen eye for the exceedingly precarious moral situation of her own kind - the privileged white intelligentsia that abhors apartheid, detests the exploitation of 25 million unfranchised, economically vulnerable citizens at the hands of five million people who, so far, have had a powerful modern army at their disposal, not to mention the wealth of a vigorous, advanced capitalist society. To oppose the assumptions and everyday reality of a particular world, yet be among the men and women†¦show more content†¦For Aila, his wife, for Baby, their daughter and first child, for Will, named after Shakespeare (how do some of us jaded folk, schooled for years, ever recapture the innocence and heartfelt sincerity of such a parental decision?), Sonny, the low-paid, earnest, hard-working civil servant and educator, once had an almost infinite supply of concern and affection. He attended them in every way - a sturdy householder, no matter the constant, terrible shadow of apartheid. But gradually Sonny got connected to his peoples political struggle, an exceedingly dangerous one in a country whose ruling class for decades ruthlessly punished any and all activist dissent: a democracy for a white minority, a harsh totalitarian regime for a black majority. Gradually, too, he found less and less time for his family. He shows up now and then, but hurriedly leaves. To call upon a well-known biblical polarity, he is trying to gain a whole new world for others, yet his own familys world, maybe his soul, too, are in grave jeopardy. Sonnys political ascent is a major topic for the novels one narrator (who is obviously horrified by apartheid and anxious to see it ended, and is struggling to find the self-respect that goes with a principled observers persistent dissent). It is this narrator who gives us a rather conventional, well-told account of a familys ups and downs, its transition from social and emotional ordinariness to a

Nixon’s Policies Versus the Strategies of Cold War Free Essays

It is at the peak of The Cold War that Richard Nixon assumed his position. He felt the need to change the country’s foreign policy because it is at this time that thousands of American troops were sent to Vietnam. Then, there was a strong urge to win The Cold War over and stop communism at any cost, Nixon rather wants to divert it to another way that points to a productive initiative that basically highlights cooperation. We will write a custom essay sample on Nixon’s Policies Versus the Strategies of Cold War or any similar topic only for you Order Now Nixon believed that the only key to a more stable world is a stronger America. He then emphasized the bigger importance of partnership to win back not the war but peace between countries. Nixon even stated to provide shield to those countries in alliance to them in case of nuclear threats. He even said that the United States would also keep its commitments to other nations, as well as manpower to those who needs defense. His strategy turned out to be more civil and diplomatic than that of the heated cold war policies. He engaged more on changing the approach so as to better see the problem and make it into something more favorable to everyone (Nixon’s Foreign Policy: A Global Balance Of Power ). Reference Nixon’s Foreign Policy: A Global Balance Of Power . (n.d.). Retrieved october tuesday, 2007, from free essays: http://www.freeessays.cc/db/38/pbk80.shtml    How to cite Nixon’s Policies Versus the Strategies of Cold War, Essay examples

Evidence of Segmentation

Question: Write an essay on "Evidence of Segmentation". Answer: The financial technology also known as Fin Tech is a speedily growing line of trade that is transforming the monetary services sector and troublemaking existing monetary service suppliers. It brings together both finance and technology in order to introduce the innovative ways to distribute the financial services. Under Fin Tech, the peer to peer lending is the most well-known. The lender under the peer to peer category follows a diverse trade model to that of the financial organizations (Harwood et al. 2012). The banking industry in Australia is dominated by 4 main banks with a joint market share of 75 percent in the segment of mortgages of retail banking. The major banks and other incumbents place a superior importance on mortgages and deposits than on customer unsecured lending given remote larger income and earnings pools in those districts and their importance in establishing the consumer relationship (Frisoni et al. 2015). Lending to businesses in Australia was ~A$777 billion as of December 2014. Based on RBA data, individual loan balances below A$500,000 account for ~A$120 billion of lending, while balances between A$500,000 and A$2 million make up another ~A$130 billion of loans. The four-year compound growth rate since 2010 has been ~1.9% for the former and ~3.4% for the latter (Peguero-Pina et al. 2015). Segmentation lies somewhere near the middle of a continuum of marketing strategies that range from mass marketing in which a solitary product is obtainable to all customers in a marketto one-to-one marketingin which a diverse product is specially intended for each individual consumer. As per the evidence, the demographical factors like education, income, size of the household affects the choice of the financial outlet and the choices of brand. The evidence corroborates theories that are emphasizing the dynamics of resources investment, monetary services reformation and the financial incentives (Chahine et al. 2015). In the base case, it is assumed that P2P SME lending balances will cultivate from approximately zero today to ~A$11.4 billion (~12% of the TAM) in 2020. It is factored that in 2020 balances of ~A$15.2bn (~16% of the TAM) under the bull case and ~A$4.8 billion (~5% of the TAM) under the bear case (see Exhibit 114). In the viewpoint, SME lending via P2P will mature sooner than consumer unsecured provide because way in to credit from the banks is more unnatural in this section and it is thought that SME borrowers are more possible to search for substitute sources of credit. As per the IBIS report, in Australia the peer peer lending is still under its infancy. As estimated the loans that was issued in the year 2014 was approximately US$500 million. Presently, in Australia the majority of investments supplied for the Australian peer-peer lender are only available to complicated investors. Degree of Market Competition by Segment Concentration is the vital element that is considered vital in the evolution of competition. As per the traditional structure, a concentrated lending industry implies a lower degree of competition due to the undesirable exercise of market power. The authoritarian impediments to competition also create a desirable environment for a few powerful banks in order to hinder competition (Kim et al. 2016). The lack of significance in the market structure implies that the competition policy in the lending industry is more intricate than expected. However, the competitiveness in the industry cannot be measured only by the structure of the market. In order to determine the competition in the lending industry, the organizational quality as well as the amount of inter-industry competition plays a vital role. A concentrated lending industry endangers the competitiveness in the developing financial system. The degree of market competition in the lending industry is behind many other sectors. Competition is viewed quite often as an essential ingredient in the development strategy of the lending sectors. According to the conventional point of view, an augment in attentiveness fosters conspiracy and impairs competition. However, it is tricky to moderator whether concentration diminishes competition among lending industry, based on the experiential findings, where the case for using attentiveness as an alternative for competition is seriously doubtful. The market competition in the lending sector often leads to the lowering of costs and this in turn improves the efficiency of the fiscal intermediation, greater innovation of manufactured goods. Thus, the market competition leads to greater improvement, lower costs, enhanced competence as well as greater and broader supply. The link between competition and the lending sector performance leads to more complexity of the financial system. However, more competition leads to more entrance and in turn leads too weaker lending standard (Cheng et al. 2013). In case of the competition in the lending financial industry, the structure of the ownership seems to matter. By controlling the traits of the lending industry, it is robust to model condition and unusual measures of competition. References Chahine, C., El Berbari, R., Lagorre, C., Nakib, A. and Petit, E., 2015, September. Evidence theory for image segmentation using information from stochastic Watershed and Hessian filtering. InSystems, Signals and Image Processing (IWSSIP), 2015 International Conference on(pp. 141-144). IEEE. Cheng, P., Man, P. and Yi, C.H., 2013. The impact of product market competition on earnings quality.Accounting Finance,53(1), pp.137-162. Frisoni, G.B., Jack, C.R., Bocchetta, M., Bauer, C., Frederiksen, K.S., Liu, Y., Preboske, G., Swihart, T., Blair, M., Cavedo, E. and Grothe, M.J., 2015. The EADC-ADNI Harmonized Protocol for manual hippocampal segmentation on magnetic resonance: Evidence of validity.Alzheimer's Dementia,11(2), pp.111-125. Harwood, M.L., Ziegler, G.R. and Hayes, J.E., 2012. Rejection thresholds in chocolate milk: Evidence for segmentation.Food quality and preference,26(1), pp.128-133. Kim, K., Gopal, A. and Hoberg, G., 2016. Does Product Market Competition Drive CVC Investment? Evidence from the US IT Industry.Information Systems Research. Peguero-Pina, J.J., Sancho-Knapik, D., Martn, P., Saz, M.., Gea-Izquierdo, G., Caellas, I. and Gil-Pelegrn, E., 2015. Evidence of vulnerability segmentation in a deciduous Mediterranean oak (Quercus subpyrenaica EH del Villar).Trees,29(6), pp.1917-1927.

Credit Crunch in Usa-Causes and Solutions Essay Example

Credit Crunch in Usa-Causes and Solutions Essay Contents Credit Crunch in USA2 Causes of the Credit Crunch2 Housing Bubble2 Financial Product Innovations5 Sub Prime and Alt-A Lending5 Shadow Banking System6 Other Factors7 Solutions for the Credit Crunch7 Nationalization7 Regulation of the Shadow Banking System8 Regulations on Mortgage Lending8 Capital Reserve Requirement9 Government Initiatives10 Conclusion11 References12 Appendix14 Glossary14 Table of Charts Federal Funds vs Mortgage Rates3 USA Home Price Indices4 USA Property Foreclosures 20075 USA subprime Market Share6 Mortgage Foreclosures Factors.. 9 Credit Crunch in USA â€Å"USA† is facing a shrinking supply of credit in the credit market which is often termed as a â€Å"Credit Crunch†. A credit crunch has made it difficult for companies to borrow because lenders are scared  of bankruptcies or defaults, which results in higher rates. The credit crunch has done a lot of damage to the US economy by stifling economic growth through decreased capital liquidity and the reduced ability to borrow (Keara, 2009). This crunch coupled with the  recession, has led to many corporate  bankruptcies. Causes of the Credit Crunch Housing Bubble The central element in the Credit Crunch was the â€Å"Housing Bubble†. The real estate prices in US were unchanged for almost a century until 1995(Baker, 2008). The period between 1995 till 2002 showed an increase of 30 % in the house prices which grew up to 124% by 2006 (The Economist, 2007). The house prices were being driven by a speculative bubble rather than the fundamentals of the housing market (Baker, 2008). We will write a custom essay sample on Credit Crunch in Usa-Causes and Solutions specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Credit Crunch in Usa-Causes and Solutions specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Credit Crunch in Usa-Causes and Solutions specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Adding fuel to the fire were the lower interest rates offered by the Federal Reserve System. The country was grappling back to normalcy after the 2001 recession. To ease out the pressures on the potential home buyers, the federal fund rates were slashed drastically to 1. 0 percent by the end of 2003, which was a 50 year low. The 30 year fixed rate was also reduced to 5. 25 %. Chart 1 gives us the trends for the 30 Year fixed rates and the mortgage rates across 2001-2008. Chart 1. Federal Funds vs Mortgage Rates(Freddie Mac,2008) These extra ordinarily low interest rates accelerated the house prices. Alan Greenspan, the Federal Reserve Board chairman encouraged people to buy adjustable rate mortgages instead of fixed rate mortgages (Baker, 2008). This  housing bubble also resulted in quite a few homeowners refinancing their homes at lower interest rates, or financing consumer spending by taking out  second mortgages  secured by the price appreciation. This bubble began to burst in 2007, as the construction boom led to so much over-supply that prices could no longer be supported. By the end of 2007, the housing prices had started to fall in most parts of USA. The prices had declined to almost 20 % of their peak value since mid 2006(Standard`s Poor`s, 2008). This dramatic fall in the house prices put the borrowers in a ‘negative equity’ where the appraised value of the mortgage was far lower than the actual amount owed to the financial institution. Chart 2 shows the Home Price trend in USA until 2008. Chart 2. USA Home Price Indices(Standard Poor`s,2008) The Federal fund rates were raised significantly between July 2004 and July 2006  . This contributed to an increase in 1-year and 5-year  adjustable-rate mortgage  (ARM) rates, making ARM interest rate resets more expensive for homeowners(Mastrobatista,2009). People were unable to cope with the higher interest rates offered by the adjustable rate mortgages in the latter periods. Refinancing became more difficult, once house prices began to decline. Borrowers who could not afford the higher monthly payments by refinancing began to default. During 2007, lenders started the foreclosure proceedings on nearly 1. million properties, a 79% increase over 2006 (RealtyTrac, 2008)  which further increased to 2. 3 million in 2008, an 81% increase vs. 2007 (RealtyTrac, 2009). A survey by MBA (2008) showed that 9. 2% of all mortgages outstanding were either delinquent or in foreclosure. The Economist (2009) predicts that up to 9 million homes may enter foreclosure over the 2009-2011 periods leading to a loss of more than $450 billion. Chart 3 shows the U. S. Household Prope rty Foreclosure in 2007. Chart 3. USA Property Foreclosures Chart 2007(Realty Trac,2009) Financial Product Innovations The housing bubble was supported by a variety of financial product innovations such as; 1. Adjustable Rate Mortgages in contrast to Fixed Rate Mortgages which were more common before. 2. Mortgage Backed Securities. 3. Collateral Debt Obligations. 4. Credit Default Swaps. The use of these products expanded dramatically in the years leading up to the crisis. Sub Prime and Alt-A Lending Sub Prime Lending refers to loans issued to people who have poor credit histories. Owing to government and competitive pressures, the sub-prime mortgage market exploded during the housing bubble. Most of the major investment banks and government sponsored agencies such as Fannie Mae and Freddie Mac were involved with this high risk lending (Wallison Calomiris, 2008). Before 2004, the Sub Prime market accounted for less than 10 % but increased to 20 % by 2006 (Alexander et al, 2008). The relaxation of â€Å"Net Capital Rule† encouraged the investment companies to increase their financial leverage and aggressively promote the Mortgage Backed Securities (Labaton, 2008). In addition to this the issuance of Alt-A loans also aggravated the problems for the nations` economy (Baker, 2008). These loans were of a questionable quality and came up with incomplete documentations. Many of these loans were falsely purchased for the sake of investments. These loans had high loan to value ratio. In some cases, buyers got the full value of their purchase price. The subprime and Alt-A categories together comprised more than 40 percent of the loans issued at the peak of the bubble (Baker, 2008). Chart 4 shows the US Subprime Market share and the Home Ownership percentages. Chart 4. USA Sub Prime Market Share(US Census Bureau,2008) The delinquency rates for the Subprime loans had reached 25% by the end of 2008 (Bernanke, 2008). Shadow Banking System Lack of regulatory controls over the parallel or shadow banking system played a major role in the credit collapse. The parallel banking systems are nothing but the securitization markets. These entities were vulnerable because they borrowed short-term in liquid markets to purchase long-term, illiquid and risky assets (Geithner, 2008). This meant that disruptions in credit markets made them subject to rapid deleveraging, selling their long-term assets at depressed prices. Major USA conglomerates, Bear Stearns and Lehman Brothers are the examples of parallel banking systems whose collapse signalled the start of the financial crisis. These financial institutions benefited from the existing easy credit conditions . They borrowed and invested large sums of money through a practice called as leveraged lending (The New York Times, 2010). The high leverage ratios of these organizations put them under heavy debts. Blackburn (2008) in his research article â€Å"The Subprime Crisis† reveals that the debts for these Organizations were 113. 8% of the GDP in 2007. Such high financial leverages made these organizations highly susceptible to the market setbacks. Other Factors In addition to the above mentioned factors, the lenders were also involved in unscrupulous activities of advertising risky loans. Countrywide Financials was actively involved in unfair business practices and advertising low interest rates for home refinancing. Incorrect appraisals of the owners’ property, inaccurate credit ratings by agencies, extremely low down payments offered to the borrowers, NINJA mortgaging also contributed to the downslide of the economy. Solutions for the Credit Crunch The credit crunch could have been avoided if the regulatory bodies had taken the necessary precautionary measures. The early signs of a crunch were ignored and not paid attention to which led to a very aggravated condition. Leading financial advisors worldwide have recommended some key solutions to safeguard the economy in the future. Nationalization Nationalization has been a very rare occurrence in the economic history of USA. But it is one the best possible solutions for the Credit Crunch. The failing companies must be bailed out by the government and exercised control upon. All the insolvent financial institutions must be injected with fresh capital from private investors in an order to survive. Roubini(2009), a popular economist also advocates a temporary takeover of the financial organizations which are on the verge of bankruptcy by the government. Regulation of the Shadow Banking System The Shadow Banking Systems do not follow the rules and regulations which are applicable to banks. The financial regulations and the safety nets should also be extended to these organizations. Krugman (2010) suggests that the regulators must have the authority to take control of the falling shadow banks. The  FDIC  has the authority to takeover a struggling depository bank and liquidate it but it lacks this authority for non-bank financial institutions. Geithner (2009) testifies that the FDIC needs to expand its regulation to these non bank financial institutions also. Stiglitz (2008) advocates that there should be strict regulations with regards to the financial leverages that these intuitions undertake in order to get short term benefits. He suggests that companies must not be allowed to grow very big and must be broken into smaller entities. Financial institutions must not be allowed to go rampant in selling the riskier products such as the mortgage backed securities and CDOS`. Regulations on Mortgage Lending During the period preceding the credit crunch, there were minimal regulatory acts for mortgage lending. As a result there was an increase in subprime mortgages which were one of the major causes of the crisis. The following regulations should be put in place in order to avoid the recurrence of this situation, 1. Minimum down payment amount. Buffett (2008) suggests of doing the â€Å"Income Verifications† and maintaining minimum 2 down payments of 10 % for every loan which is issued. 2. A strong credit history check of the borrower. Only clients with a high FICO score should be granted loans. 3. Maintaining a strong documentation for all the loan cases. This will keep a check on the Alt-A category of loans. 4. Less performance pressure on the appraisers. This will enable them to assess the property correctly and come up with realistic value for the same. 5. Less pressure on the borrower for purchasing the ARM. Economist Stan Leibowitz (2009) states that the positive equity of a home owner determines foreclosures. His study reveals that 2008 saw 47% of homes which had negative equity to face foreclosures. He has advocated a relatively high minimum down payment. He is of the opinion that the intensity of the housing bubble could have been minimised if substantial down payments had been acquired. This would have also led to a very small negative equity existing amongst the home buyers. Chart 6 highlights the fact that negative equity was the major cause of all the mortgage foreclosures. Chart 6. Mortgage Foreclosures Factors (Wall Street Journal,2009) Capital Reserve Requirement The investment banks had limited capital reserves to deal with the declines in mortgage backed securities and other innovative financial products such as collateralised debt obligations. Limited financial cushion meant that these companies couldn’t support themselves in the credit default derivative insurance contracts which led to their downfall. Leading economist Stiglitz (2008) suggests a Minimum Capital Reserve Requirement Strategy to overcome the crisis. Raghuram (2009) suggests institutions to maintain a contingent capital. This will include paying insurance to the government when the economy is on an upswing. This same insurance amount can be used during the downslide. Greenspan (2009) advocates a stronger capital cushion for banks and a more regulatory capital requirement. Government Initiatives The Federal Reserve System has taken steps in association with  other central banks  around the world to increase the liquidity in the market. It has introduced various programs such as TALF which focuses on providing short-term funding to various institutional borrowers. The Fed can expand the money supply through open market operations  which provides cash to member banks for lending. The Fed can also provide loans against various types of collateral to enhance liquidity in markets. The Troubled Asset Relief Program  (TARP) proposal initiated by the government for purchasing the toxic assets of a company was a failure because of the long timeline involved in successfully valuing, purchasing, and administering such a program. The government is also focussing on bail outs of large organizations facing bankruptcy. The famous AIG bailout has been described by Bernanke (2009) as a necessary step in protecting the stability of the economy. Conclusion The solutions outlined above aim to establish a proper regulatory system for the global finances. We have to progressively transform the very nature and functioning of the financial organizations worldwide. There should be a global system of financial regulations. The shadow banking system must be controlled and regulated to put new rules and principles in place. The G-20 leaders worldwide should take the necessary steps in order to evade another financial crisis. The costs incurred and the time required for the changes in the system are high, but these have to be incorporated considering the potential future setbacks. The global economic meltdown has already hit the countries badly. The non-depository banking institutions have had a major hit to their market standings. At the end of the day it is the human psyche and the greed which needs to be controlled. Practicality needs to be prevailed and a more radical and transformative approach be taken to tackle the hurting consequences of the â€Å"CREDIT CRUNCH†. All Central Banks are responsible for internal stability and external stability of the currency. They have a variety of means at their disposal to achieve those aims, including interventions, changes in key interest rates or fixing reserve requirements for private banks (Lietaer, 2001). CDO CDOs, or Collateralized Debt Obligations, are sophisticated financial tools that repackage individual loans into a product that can be sold on the secondary market. These packages consist of auto loans, credit card debt, or corporate debt. They are called collateralized because they have some type of collateral behind them (Amadeo,2010). CDOs are called  asset-backed commercial paper  if the package consists of corporate debt and  mortgage-backed securities  if the loans are mortgages. If the mortgages are made to those with a less than prime credit history, they are called  subprime mortgages. CDS CDS are a financial instrument for swapping the risk of debt default. Credit default swaps may be used for emerging market bonds, mortgage backed securities, corporate bonds and local government bond The buyer of a credit default swap pays a premium for effectively insuring against a debt default. He receives a lump sum payment if the debt instrument is defaulted. The seller of a credit default swap receives monthly payments from the buyer. If the debt instrument defaults they have to pay the agreed amount to the buyer of the credit default swap (Economicshelp,2010). Credit Crunch Credit Crunch is defined as an economic condition  in which  investment capital is difficult to obtain. Banks and  investors become wary of lending funds to corporations, which drives up the price of debt products for borrowers(Investopedia,2010). A  credit crunch  occurs when there is a  lack of funds available  in the credit market, making it  difficult for  borrowers to obtain  financing. This happens when lenders have limited funds available to lend or are unwilling to lend additional funds, or have increased the cost of borrowing to a  rate  that is unaffordable to most  borrowers. Credit  crunches are usually considered to be an extension of recessions. A credit crunch makes it nearly impossible for companies to borrow because lenders are scared  of bankruptcies or defaults, which results in higher rates. The consequence is a prolonged recession (or slower recovery), which occurs as a result of the shrinking credit supply (Investopedia, 2010). Credit market Investopedia (2010) explains a credit market as the broad market for companies who are looking to raise funds through debt issuance. The  credit market encompasses investment-grade bonds and junk bonds, as well as short-term commercial paper. The credit market also involves the debt  offerings as seen by investors of bonds, notes and securitized obligations such as mortgage pools and collateralized debt obligations (CDOs). Fannie Mae The Federal National Mortgage Association or Fannie Mae is a government-sponsored enterprise (GSE) chartered by Congress with a mission o provide liquidity, stability and affordability to the U. S. housing and mortgage markets which operates in the U. S. secondary mortgage market. (Fannieaae, 2010) FDIC The Federal Deposit Insurance Corporation (FDIC) preserves and promotes public confidence in the U. S. financial system by insuring deposits in banks and thrift institutions for at least $250,000; by identifying, monitoring and addressing risks to the deposit insurance funds; and by limiting the effect on the economy and the financial system when a bank or thrift institution fails. An independent agency of the federal government, the FDIC was created in 1933 in response to the thousands of bank failures that occurred in the 1920s and early 1930s. Since the start of FDIC insurance on January 1, 1934, no depositor has lost a single cent of insured funds as a result of a failure. The FDIC receives no Congressional appropriations – it is funded by premiums that banks and thrift institutions pay for deposit insurance coverage and from earnings on investments in U. S. Treasury securities. The FDIC insures more than $7 trillion of deposits in U. S. banks and thrifts – deposits in virtually every bank and thrift in the country. Federal Reserve System The â€Å"Federal reserve System† or â€Å"The Fed† is the central bank of the United States of America. It was originally conceived in the year 1910 and enacted in 1913 with the passing of the Federal Reserve act (Whitehouse, 1989). This was a result of the previous financial panics that the country had experienced. Its duties today, according to official Federal Reserve documentation, fall into four general areas(Federal Reserve , 2010): * Conducting the nations monetary policy by influencing monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates. Supervising and regulating banking institutions to ensure the safety and soundness of the nations banking and financial system, and protect the credit rights of consumers. * Maintaining stability of the financial system and containing systemic risk that may arise in financial markets. * Providing financial services to deposit ory institutions, the U. S. government, and foreign official institutions, including playing a major role in operating the nations payments system. Financial Leverage Financial leverage (FL) is a  loan  or other  borrowings  (debt), the proceeds of which are (re)invested with the intent to earn a greater rate of return than the cost of interest. It is the degree to which an  investor  or  business  is utilizing borrowed  money. Companies  that are highly leveraged may be  at risk  of  bankruptcy  if they are unable to make payments  on their  debt; they may also be unable to find new  lenders  in the future. Financial  leverage  is not always bad, however; it can increase the shareholders’ return  on their  investment  and often there are  tax advantages associated with  borrowing. Fixed Rate Mortgage A fixed Rate Mortgage has a fixed Interest Rate for the entire tenure of the loan. Freddie Mac The  Federal Home Loan Mortgage Corporation  (FHLMC), known as  Freddie Mac  is a  government sponsored enterprise (GSE) of the  United States federal government. Freddie Mac has its headquarters in Virginia (Freddiemac, 2010)   Freddie Mac buys mortgages on the secondary market, pools them, and sells them as a  mortgage-backed security  to investors on the open market. This secondary mortgage market  increases the supply of money available for mortgage lending and increases the money available for new home purchases. Net Capital Rule. GDP Gross Domestic Product or GDP refers to the value of all the goods and services consumed in a particular economy (Lietaer, 2001). Greenspan Alan Alan Greenspan was the former chairman of the federal reserve system of United States of America from 1987 to 2006. He is currently working as a consultant and private advisor for firms through his company Greenspan Associates LLC. Krugman Paul Paul Krugman is an American economist and author. He is currently working as a professor in Economics and international affairs at the Princeton university (krugmanonline, 2010) Liquidity Market liquidity refers to the assets ability to be sold without much depreciation in its value and without much price discounts. Liquidity refers to how quickly and cheaply an asset can be converted into cash. Money in the form of cash is the most liquid asset. Assets that generally can only be sold after a long exhaustive search for a buyer are known as illiquid (Investopedia, 2010). Loan to Value Ratio The Loan to value ratio refers to the amount of loan issued to the total appraised value of the mortgage. MBA The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D. C. , MBA invests in communities across the nation by ensuring the continued strength of the nations residential and commercial real estate markets; expanding homeownership and extending access to affordable housing to all Americans and supporting financial literacy efforts (MBAA,2010). MBS Mortgage-backed securities (MBS) are debt obligations that represent claims to the cash flows from pools of mortgage loans, most commonly on residential property. Mortgage loans are purchased from banks, mortgage companies, and other originators and then assembled into pools by a governmental, quasi-governmental, or private entity. The entity then issues securities that represent claims on the principal and interest payments made by borrowers on the loans in the pool, a process known as securitization (US Securities and Exchange Commission, 2010). Most MBSs are issued by the Government National Mortgage Association (Ginnie Mae), a U. S. government agency, or the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), U. S. government-sponsored enterprises. Nationalization Nationalization is a process when the government takes over the privately owned  corporations,  industries, and  resources  with or without compensation. Common  reasons for nationalization include (1)  prevention  of unfair exploitation and large-scale  labour  layoffs, (2) fair  distribution  of  income  from national resources, and (3) to keep  means  of generating  wealth  in  public  control. Nationalization may include the complete changeover of the management of the organization. Once the organization is back on the positive side of the fence, the business is completely handed over to the management (BusinessDictionary,2010) Negative Equity Negative Equity is a situation in which the value of the collateral falls below the outstanding balance of the loan. This usually occurs when loan payments are less than the interest. NINJA. Any type of mortgage loan requires the borrower to show sufficient income proofs and documentations. NINJA refers to â€Å"No income No job No assets†. Such a type of lending ignores the verification process and is considered a part of sub-prime lending. In NINJA mortgages the borrowers are often offered very low initial interest rates which are later adjusted to the market rates. Subprime lending Subprime lending refers to lending to borrowers having a poor credit history. The FICO score of these borrowers is usually very less which doesn’t qualify them for having loans. Subprime loans are issued with higher interest rates and are considered to be more risky than the subprime loans. Securitization Securitization is defined as the process of gathering a group of debt obligations such as mortgages into a pool, and then dividing that pool into portions that can be sold as securities in the secondary market. Shadow Banking System The Shadow banking system is also known as the parallel banking system. This system usually consists of the financial institutions and investment banks which run like a bank but are not subjected to the same regulatory acts like banks. They are more involved in dealing with riskier financial products

The Portrayal of the Body as a Medium of Culture in Stanley Kubrick’s A Clockwork Orange Essays

The Portrayal of the Body as a Medium of Culture in Stanley Kubrick’s A Clockwork Orange Essays The Portrayal of the Body as a Medium of Culture in Stanley Kubrick’s A Clockwork Orange Paper The Portrayal of the Body as a Medium of Culture in Stanley Kubrick’s A Clockwork Orange Paper The clockwork metaphor has long been used as a tradition of Western science as a means of portraying a condition in which human behavior is modified to the extent that it is plausible to predict as well as control human behavior. Stanley Kubrick’s adaptation of Anthony Burgess’ novel A Clockwork Orange presents a scenario in which such a condition is enabled in society. A central message of Kubrick’s aforementioned film lies in its emphasis on the necessity to scrutinize the assumption that both science and the state may be considered as the guardians of human civilization. The movie’s story follows the escapades of Alex, a reasonably intelligent young criminal and his three gang members, Pete, Georgie, and Dim. As they drink milk with narcotics, the gang spends their evenings entertaining themselves with ‘ultra-violent’ acts. As the movie develops, one is presented with examples of these ‘ultra-violent’ acts which involve beating a homeless man, raping another gang, as well as beating and raping a woman. It is the later act which led to Alex’s imprisonment and later on involvement in a voluntary behavior modification experiment which conditioned him to associate pain with sex and violence thereby turning Alex into an individual devoid of free will and a model member of society, hence ‘a clockwork orange’. This modification of Alex’s behavior however turned him into a victim of social retribution, the experience of which led him into an attempt to commit suicide. After such an attempt, Alex was once again placed in the control of the state who decided to undo the effects of his earlier behavior modification. The movie ends with a portrayal of Alex who was once again in possession of his free will filled with thoughts of the various ways in which he may once again commit ‘ultra-violent’ acts. The movie ends with Alex menacingly stating, â€Å"I was cured all right† (Kubrick np). Stanley Kubrick’s A Clock Work Orange may thereby be seen as presenting a narrative of an individual who experiences four subject positions: Alex as a criminal, Alex as a convict, Alex as a patient, and Alex as a citizen. Through his shift from one subject position to another, Alex experiences different modes of power and at the same time different modes of subjectivity. It is interesting to note that by enabling the different shifts in power through Alex’s character, the movie was able to portray the different points in which subjectivity is shaped in an individual. In line with this, what makes Alex’s character interesting are not his physical traits but the different traits which have been ascribed upon him as a result of the constitution of his personality by the rules and norms of the different institutions that gained access and control over Alex’s body. Alex may thereby be seen as an entity who presents the film’s spectator with the different ways in which the body stands as a medium of culture as it derives its meanings from the social constructs of the body determined by its position within society. Susan Bordo, in â€Å"The Body and the Reproduction of Femininity†, emphasizes the manner in which the body becomes a ‘powerful symbolic force’. She states, â€Å"The body†¦is a powerful symbolic force, a surface on which the central rules, hierarchies, and even metaphysical commitments of culture are inscribed and thus reinforced through the concrete language of the body† (Bordo 162). Bordo’s claim regarding the body’s existence as a powerful symbolic force and a mirror of culture is based on the assumption that the body is defined by the social constructs of society. Such a definition however occurs not merely by placing emphasis on the physical property of the body but also by placing emphasis on the mental property of the body. In â€Å"Feminism, Western Culture, and the Body†, Bordo argues that the body is defined in terms of a dualistic conception of reality which perceives the body as an entity which is â€Å"something apart from the true self†¦and as undermining the best efforts of that self† (5). The body is thereby depicted as an entity composed of a physical component and a mental component. The physical component adheres to the scientific conception of the body as â€Å"a purely mechanical, biologically programmed system that can be fully quantified and (in theory) controlled† (Bordo 4). The mental component of the body, on the other hand, adheres to the conception of the body which refers to the self or an individual’s identity. According to Bordo, Western philosophy has traditionally perceived the physical component of the body as that which must necessarily be controlled by the mental component of the body (Bordo 2). The problem with such a view however is evident if one considers that the conception of the mental component of the body is based upon the physical component of the body. In the case of women, for example, this is evident in the identification of the physical component of the female body with sexuality and the mental component of the female body with irrationality. Bordo argues that this distinction between the mind and the body has pervaded the social construction of both the male and female figure and as such its â€Å"continuing historical power and pervasiveness†¦ (enables) certain cultural images and ideolog(ies) to†¦ (make) not just men but also women†¦vulnerable† (Bordo 7-8). The continuation of a dualistic conception of reality leads to the vulnerability of both men and women as it enables the proliferation of certain social constructs which identifies the male and female body with particular identities. Dualism enables the perpetuation of these identities as it emphasizes the impossibility of enabling the union between both the physical and mental components of an individual. In â€Å"We the Other Victorians†, Michel Foucault argues that this adherence to dualism is a discursive strategy of certain social groups that enables them to take control of the body. He states, The central issue, then†¦ is not to determine whether one says yes or no†¦, whether one formulates prohibitions or permissions, whether one asserts its importance or denies its effect, or whether one refines the words one uses to designate†¦; but to account for the fact that it is spoken about, to discover who does the speaking, the position and viewpoints from which they speak, the institutions which prompt people to speak about it and which store and distribute the things that are said. What is at issue†¦is the overall â€Å"discursive fact†. (Foucault 11) David Gauntlett (2002) in his discussion of Michel Foucault’s work in his book Media, Gender, and Identity, emphasizes that this characterizes the earlier phase of Foucault’s thought wherein he places emphasis on how institutions create and proliferate certain images of groups in order to enable the control of these groups. He states, â€Å"the discourses of institutions, and their formally recognized ‘experts’ work to constrain certain groups (by) limiting their opportunities by promoting certain views about them† (Gauntlett 116). In line with the importance Foucault places on the predominant discourse in society in determining the mode of power on the subject, one might state that Foucault understands the emphasis on dualism as a manifestation of society’s desire to limit the positive power of the subject by leading him to believe that his physical properties or condition determine his identity and since society perceives individual X to possess a Y identity as opposed to a Z identity, it follows that is impossible for the individual to possess a Z identity [e. g. females ought to be feminine and males ought to be masculine and hence females cannot be masculine]. In the case of Stanley Kubrick’s A Clockwork Orange, this is evident in the character of Alex mentioned above as Alex’s identity was determined by the conditions of the physical component of his body. As was mentioned in the initial part of the paper, Alex was able to experience four subject positions: Alex as a criminal, Alex as a convict, Alex as a patient, and Alex as a citizen. It is important to note that all these subject positions are determined by the actions on or upon the physical component of his body. For example, Alex’s subject position as a criminal was determined by his freedom from the constraints of the law which enabled him to commit violent actions towards others. On the other hand, Alex’s subject position as a convict and as a patient was determined by the level of control that the system possessed upon Alex’s body. Finally, Alex’s subject position as a citizen was determined by the effects of his position as a transformed body. It is important that this transition from one subject position to another mirrors Bordo emphasis on the social construction of the subject. This is apparent if one considers that Alex’s subject position was determined by the institution which has control over his body and hence the manipulation of this institution upon Alex’s physical body has led to the manipulation of the conception of Alex’s self or Alex’s identity. These changes enabled by Alex’s shift from one subject position to another is also in line with Foucault’s emphasis on the way in which discourse manifests the modes of power prevalent within society as well as the individual’s access to these modes of power. Consider for example that Alex’s transition to a citizen stands as a result of his transformation from being a subject acting with and upon others to a slave or object for others to act upon. By being submerged within the different discourses and hence different modes of power that delimit the individual’s positive freedom, Alex was turned into a body that was stripped of his initial identity that was not controlled by society and hence he has turned into a subject defined by society itself as he has been manipulated and molded in order to gain his final subject position as a citizen. Within this context, one might note that the body becomes a medium of culture as the body stands as the means through which culture controls the subject. By advocating associations between the physical and mental component of the body, society enables the control of the individual as it delineates the individual to one particular identity hence as can be seen above Alex cannot occupy the subject position of a convict and citizen at the same time. The problem with this is evident if one considers the intersectionality of identity which refers to the possibility in which an individual may have one or more characteristics of another group [e. g Alex’s subject position as a patient still enables him to occupy the subject position of a citizen]. To assume that an individual is delimited to one identity as a result of his physical properties amounts to a form of hasty generalization which fails to account for the complexity of the human being and his ability to occupy different positions within society. Bordo, Susan. Unbearable Weight: Feminism, Western Culture, and the Body. Eds. Susan Bordo and Leslie Heywood. California: U of California P. , 2004. Foucault, Michel. â€Å"We the Other Victorians. † The History of Sexuality. Volume One. New York: Penguin Books, 1988. Gauntlett, David. â€Å"Michel Foucault: Discourses and Lifestyles. † Media, Gender, and Identity: An Introduction. London: Routledge, 2002. Kubrick, Stanley. A Clockwork Orange. Perf. Malcolm McDowell. Np, 1971.

Compare abd contrast Essay Example | Topics and Well Written Essays - 1500 words

Compare abd contrast - Essay Example ference in the way these people eat, drink, dress, hang out, meet with new and known people, and bury their known ones as well as their day-to-day activities which vary a great deal when one thinks of them in a broader context. Hence the comparison holds solid ground due to the fact that these people, both from the American nation and the Saudi Arabian territories known how distinct and different they are from each other and it is good to know one’s strengths and weaknesses beforehand. The similarities exist within their nationalism and the attitude with which both the societies echo their voices in favor of the patriotism myth. Religion is pretty intrinsic to a culture of a society and in broader sense to a country where its different people carry out their rituals and activities in accordance with the customs and traditions as dictated by their respective religions. Same is the case for the two countries under study here which are basically being compared. United States is a much more developed nation that Saudi Arabia while the latter is an oil-rich state and fundamentally more than 90% of its inhabitants are pre-dominantly Muslims. While the super power nation of the world is more or less comprised of nearly all ethnicities that are found elsewhere, where one can find blacks known as the Afro Americans, the Asians consisting of Indians and Pakistanis mainly and so on and so forth. On the whole, United States of America has a lot of diversity has far as its single basic culture identification is concerned and hence the people obviously practice different religions in accordance with their beliefs and con victions. This paper discusses the comparison between America and Saudi Arabia in terms of their cultural values and religious bases. If one looks at the American distribution of people who have religion apart from that of Christianity, one finds that around 2% of them are Jews, 0.5% are Muslims while similar is the ratio for Buddhists. This accounts for the

The Palestinian & Israeli conflict Essay Example | Topics and Well Written Essays - 1750 words

The Palestinian & Israeli conflict - Essay Example This paper delineates the root causes of Israel Palestine conflict, which includes the historical, political and socio-economic aspects of the dispute. It also delivers the reasons as to why this issue has not yet been resolved. Since 1948 this dispute between the Jews and the Arabs over Palestine has largely been transformed into a fight between the states. Palestine vanished from the map after Israel occupation and as a result the Arab nationalists begun to stress on reoccupation of the land of Palestine, making it the topmost priority of every Arab nation. The Palestinian refugees which were the last living remnants of Palestine had also become permanent citizens of their respective states and many of them also became the Jordanian citizens in 1967. This conflict has become more intense over the time with the emergence of new world order and reticulation of relationships among the regions as well as great powers. Soon after the Britain's withdrawal from the Middle East, especially from Palestine after the end of the Second World War, the United States, the Soviet Union and the neighboring Arab countries entered into this conflict. This dispute between Israel and Palestine, apparently of political nature, has now turned out to be religious and ideological. It has not just remained a bone of contention between Israel and Palestine, but also between the Jews and the Arabs. ... Jews and Arabs both have their historical, social and moral claims over the land of Palestine. Even today, they have their religious and holy places in this land therefore none is willing to withdraw its claim over Palestine. They both need to work for the improvement of land in terms of peace, security and socio-economic growth. No one can deprive the right of others to live. There is only one way out, which is to live and let the other do the same. Neumann says that " it really does not matter who inhabited Palestine in the distant past; it would never give as a basis for deciding who should live there in the present" (2005, p69). It is because Israelis and Palestinians are not in the position to prove as to whom this land belongs to. The historical background of Israeli and Palestinians has badly affected both sides and now they aggressively tend to blame each other for what happened in the past as well as what is going on in the present. The history shows that they have reasonabl e claims over each other. Most important thing that needs to be known to both sides is that they both have a right to live. Palestinians must accept the existence of Israel and the Israelis must give the right of self-determination to the Palestinians in order to move forward in the peace negotiation process (Artz, 1997). Political Conflict Political aspect of the Israel-Palestine conflict is rather evident to the whole world. Politics seems to be something that has been encompassing this conflict for the last several decades. Israel wants its supremacy in the region and does not want its neighboring countries to become powerful. Its policy is to keep others

Bar Coding in Administering Medication Case Study

Bar Coding in Administering Medication - Case Study Example Such a situation arises when all the intended information about the patient and the medication is not communicated to the doctors, nurses and other support staff with all clarity. Bar coding provides a reliable solution to such errors. With the help of bar code; Speed of identifying the patient, illness, prescription, past history, complications encountered etc. increases manifold. Instead of going through the lengthy papers, a bar code helps in comprehensively identifying the patient, thus helping in saving the precious time and the life of the patient. Label design, barcode and printing software: The label can be designed with information regarding the medication being given to the patient, his medical history, his identification, lab specimen collection, verification of blood products prior to transfusion, electronic charge capture of supplies at the point of use, automated medicine dispensing system, information about doctors' and other support staff etc. Pharmacy Management Software & Pharmacy Management Technology Providers: Such comprehensive systems are provided by QS/1, PanaceaRX, AmerisourceBergen Technology Group, Retail Management Solutions, Speed Script, SRS Systems, RXLink, RS Software, AdvanceNet Health Solutions, Etreby Computer Company, Inc., Per-Se Technologies (formerly NDCHealth), PharmTrak, OPUS-ISM, McKesson Pharmacy Systems, HBS Pharmacy Services, Soft Writers, Inc., THOT Corporation, CarePoint, Inc., HCC Pharmacy Solutions, JASCORP etc. Hardware Requirements: To handle the bar coding effectively in health care sector, all the above mentioned software require adequate hardware support. For the implementation of eMAR services we need; A dependable computer/s with good amount of hard disk space, DD RAM and a latest processor fitted with the bar code reading software and other peripherals. An LCD monitor works well with such systems as it occupies lesser space and the screen in more readable. Bar Code Scanner/ imager ID Bar code printer. This printer has to be a

Water Its Need And Importance Essay Example for Free

Water Its Need And Importance Essay Water is the most abundant substance in the human body ranging from 40 to 80 percent of the body weight. Body water is distributed in two major compartments: the intracellular and the extracellular fluid compartments . Water being a solvent dissolves all substances and acts as a carrier to transport nutrient and other crucial chemicals which are needed for effective functioning of organs. For instance water helps in digestion, by dissolving the nutrient substances and making them pass through gastrointestinal tracks ultimately into the blood stream. It assists in transportation of food through the intestines as well as removing waste products from the body. On a cellular level it acts a medium for transmission of electrical signals between cells. It enables biochemical processes, acts as a lubricant and also regulates the body temperature according to the environmental conditions. FLUID BALANCE: Under normal condition fluid intake equals fluid output and the body maintains constant volume. When the intake exceeds the output, a positive balance or hydration exceeds on the other hand when output exceeds intake a negative balance or dehydration is caused. The major water loss processes are perspiration and urination. The water balance is regulated by osmoreceptors located in the hypothalamus. These receptors sense the molality of the blood and decide whether more or less water is required to correct the osmolality. Thirst is stimulated and we drink water if the blood is too concentrated. Anti-diurectic hormone or ADH is released from the pituitary glands which causes conservation of body fluid by acting on the kidneys leading to decreased urine output. If blood is too dilute then thirst is suppressed and DH is inhibited causing volumes of urine to be excreted. When a person eliminates water through lungs and skin without being aware of it then its called insensible loss. Loss of water in extracellular compartment causes the fluid to become concentrated leading to hypertonicity and a gain in water leads to hypotonicity. In addition to regulating total volume, the osmolarity (the concentration of solute particles per unit volume) of bodily fluids is also tightly regulated. Extreme variation in osmolarity causes cells to shrink or swell, damaging or destroying cellular structure and disrupting normal cellular function. The human body maintains a proper fluid balance through the action of mineral compounds namely from sodium and potassium which are called electrolytes. Electrolytes are chemicals formed by ionic bonding that dissociate into electrically charged ions when they dissolve in the body fluids. Examples are acids, bases and salts. Their primary function is to control osmolarity, maintenance of acid-base balance, metabolism of essential minerals and participation in cellular activities. The sodium pump is a mechanism which ensures that a cell does not retain too much sodium (which attracts water via osmosis across the semi-permeable membrane of the cell wall) and thus stops too much water from entering the cell. As mentioned before ADH plays the key role in lowering osmolarity (reducing sodium concentration) by increasing water reabsorption in the kidneys, enabling to dilute bodily fluids. To prevent osmolarity from decreasing below normal, the kidneys also have a regulated mechanism for reabsorbing sodium in the distal nephron which is controlled by aldosterone, a steroid hormone produced by the adrenal cortex ENVIRONMENTAL FACTORS: Several environmental factors control the loss of body fluids. Higher ambient temperatures result in a greater potential for sweat production. Higher humidity is also responsible for higher sweat production, but effectiveness of sweating to cool the body is reduced due to decreased rate of evaporation of perspiration from the skin. The same problem also exists with clothing that traps sweat against the skin which results in a reduced cooling efficiency that forces a greater sweat rate. CONCLUSION: A regular fluid intake from our daily diet is crucial to maintain good health. This is because the human body does not store water in the way as it stores calories so we need a constant supply every day. About 15 percent of our water needs comes from food metabolism, as our body converts part of our food into hydrogen and then mixes this with oxygen from our lungs to form water. The remaining 85 percent comes directly from water in our diet, either from water-rich foods or from water we drink. For women, the US Food and Nutrition Board recommend a total daily water intake of about 2. 7 liters (about 8 glasses) from all beverages and foods. For men they advise a total daily water intake of about 3. 7 liters (about 12 glasses). REFERENCES: ? http://www. britannica. com/EBchecked/topic/211236/fluid-balance ? http://www. annecollins. com/water-intake-fluid-balance. htm ? http://en. wikipedia. org/wiki/Body_water ? Schaums Outline of Human Anatomy and physiology

Toni Morrison and bell hooks Represent Blacks in American Literature :: Biography Biographies Essays

Toni Morrison and bell hooks Represent Blacks in American Literature Two widely known and influential authors, bell hooks and Toni Morrison, share similar beliefs and themes with regards to the black community. One theme in particular that the two writers emphasize is the representation of blacks in American literature today. hooks feels that African Americans are misrepresented, where Morrison believes that blacks are not represented at all. hooks' evidence of this theme is portrayed primarily in the sexist and racist representations the characters exhibit. Overall, both authors feel that the negative portrayal of the black community needs to stop in order for a better understanding of our national literature. Toni Morrison believes that the literature in America has taken as its concern the white man as its character base. Morrison states, "American literature is free of, uniformed by, and unshaped by the four-hundred-year-old presence of the first Africans" (205). She believes the entire history of the African culture has had no important place in the present state of our culture's literature. The American literature evident today tends to depict the white males' views, genius, and power leaving out all concerns for the black race. Morrison is convinced that, "the contemplation of the black presence is central to any understanding of our national literature and should not be relegated to the margins of the literary imagination" (205-06). Morrison's quote stresses the importance of the representation of black presence in today's literature for a better national comprehension of this writing. Two primary reasons Morrison believes that blacks are left out are the writers themselves, and the silence that has historically ruled literature. She believes, "National literatures, like writers, get along as best they can and with what they can. Yet they do seem to end up describing and inscribing what is really on the national mind" (208). This is the interest in the white man. Writers produce, and companies publish what the public wants to read about. According to Morrison, this is not the black presence, rather views and interests in the white man. The other reason she believes blacks are left out are, "that in matters of race, silence and evasion have historically ruled literary discourse" (207).

Revealing Trans Fat Summary

Revealing Trans Fats Informative Abstract Trans fats are fats resulting from the process a product undergoes in adding hydrogen to vegetable oil by turning liquid oils into solid fats and based on evidence supported, if consumed it would increase the risk of coronary heart disease and promote bad cholesterol at an high rate especially among Americans; it is therefore one of the leading causes of death in the United States.As a precautionary measure to counter this mass effect of trans fat the Food and Drug Administration required that saturated and dietary fat such as Trans fats facts be listed on food labels, which would provide information in choosing food that would help reduce coronary heart diseases. Fats are considered to be the major source of energy for the body and an aid in the absorption of vitamins in the body; fats also provide taste, consistency and stability and help you feel full.Unsaturated fats on the other hand are beneficial when consumed in moderation while on th e other hand saturated and trans fat are not. Saturated and trans fat raises bad cholesterol and may contribute to heart disease. Health experts advised that the intake of saturated fats, trans fat and cholesterol should be kept at a minimum while still maintaining a healthy diet but should not be removed from the diet completely. It was further reinforced that consumers should pay keen attention to nutritional facts on products to keep track of their intake of these fats.A general rule in choosing foods based on the facts on the label is that consumers should try to ensure that a low of 5% or less saturated fats and trans fats are in the products as to maintain an heart healthy diet while on the other hand, a high of 20% or more, would therefore be a risk to their healthy. To conclude depending on whether the consumer’s favorable food are high in saturated fat or cholesterol they can always compensate with foods that are low in saturated fat and cholesterol at different inte rvals. Descriptive AbstractThis article on revealing trans fats produced some interesting supporting facts where saturated fat, trans fat and dietary cholesterol are concerned. Based on the scientific evidence provided; saturated fat, trans fat and dietary cholesterol raises low-density lipoprotein (LDL), which increases the chance of having coronary heart disease (CHD). According to the National Heart, Lung, Blood Institute of National Institutes of Health, more than 12. 5 million Americans have CHD, and more than 500,000 die each year. Trans fats are generated as manufacturers add hydrogen to vegetable oil, which is called hydrogenation.This increases the shelf life and flavor permanence of foods containing these fats, which can be food in vegetable shortenings, some margarines, crackers, cookies, snack foods etc. All fats however are not considered the same as fat is major source of energy for the body and aids in the adsorption of vitamins A, D, E and K and carotenoids, fat is t herefore important for the proper growth, development, and maintenance of good health. Unsaturated fats on the other hand are beneficial when consumed in moderation, while saturated and trans are not because they raise LDL levels in the blood.It is therefore recommended that consumers should choose foods that are low in saturated fat, trans fat, and cholesterol as part of a healthful diet. To proper monitor the amount of saturated fat, trans fat, and cholesterol intake, it’s postulated that looking at the nutrition facts panel would provide facts regarding the amount of fats present in products, where as choosing products with a low of 5% or less of saturated fats, trans fat and cholesterol would prove to be more healthy choice rather than other products with an higher rate of fats present.

Importance of Advance Directives Essay

The Importance of Advance Directives Tara J. DiDonato Axia College of University of Phoenix The Importance of Advance Directives While most people do not speak about end of life issues either because of their background or religion, it is not only for the elderly, we should all make our wishes known. According to the Pew Research Center, (January 2006), â€Å"42% of  Americans have had a friend or relative  suffer from a terminal illness or coma in the last five years and  for a majority of these people , the issue of withholding life sustaining treatment came up†. Although many people feel it is taboo, all adults over the age of 18 should think about what their healthcare wishes would be if they could not speak for themselves. These wishes should be documented in an advance directive, so that loved ones know what they are. Power of Communication According to the Mayo Clinic (2005), â€Å"The issues surrounding serious illness and death are not easy to discuss. Decisions are much easier on our loved ones if we have an advance directive in place before we are faced with a serious illness or accident†. Without communicating our wishes, we might find ourselves in a condition that we are unable to communicate the medical treatment we wish to receive, such as resuscitation or life support. Having a conversation with loved ones is important to clarify medical wishes. We should explain our wishes and explain how our values have shaped our decision. Types of Advance Directives According to the Mayo Clinic (2005), â€Å"Advance Directives are written instructions regarding your medical care preferences†. There are various types of advance directives, such as; a Living Will, Durable Power of Attorney, Healthcare Proxy and Do Not Resuscitate Order (DNR). Durable power of attorney and living wills have limitations, they do not include instructions for every situation, which means that we need to trust that the person we have named will make the decisions which are in our best interest and are what we would have wanted. A DNR order is a form that is commonly discussed with a physician. A DNR order alerts physicians and emergency medical personnel that if a patient’s heart stops beating or if the patient stops breathing, there should be no attempts to revive them. Another advance directive is a Healthcare Proxy (HCP). This document allows patients to choose an agent to act on their behalf if they are temporarily or permanently unable to make healthcare decisions on their own. According to Fell, Kukula and Taylor (2005), as with other advance directives, â€Å"it is very important to discuss, in detail, all of your wishes with your surrogate and make sure they clearly understand and are willing to make these decisions on your behalf† (p. 4). Everyone should have a voice, not just the elderly Advance directives are not just for the elderly, anyone over the age of 18 should have one. Unexpected situations can arise at any age and there might be end of life decisions that needs to be made. In the event that a person does not have an advance directive in place, according to Fell, et al. (2005), â€Å"you will receive medical care to the fullest extent appropriate for your condition†. Without an advance directive the patient might receive more treatment than he or she would have wanted. The biggest misconception about an advance directive is that people think that having one means â€Å"do not treat†, this is incorrect. Frequently used medical terms

The Great War

The Great War The Great War (WW1)Question: "The system of alliances that existed before 1914 increased the likelihood of war"How far do you agree with this statement? Explain your answer. (20).The Great War was fought during 1914-1918, mainly between countries in Europe and their respective colonies. Alliances were the union or association formed with another countries to defend and benefit both nations. The system of alliances increased likeliness of war alongside many other factors that ultimately led to the war.Firstly, inevitably the alliances that the European countries had with each other increased the likelihood of war. The concept of alliances was not to start wars, but to prevent them. Unfortunately, in this case the alliances backfired and actually created a large-scale war between many European nations. The smaller countries in the alliances declared war on each other abut matters that did not concern the bigger countries in the alliance.English: Deutsch:However, due to the alliance, th e other countries had to be dragged into the problem, and it ended up with many countries who did not technically need to go to war but were bound by the alliance. The countries were divided into 2 main groups: The triple entente (Britain, France and Russia) and the Central Powers (Germany, Austria-Hungary and Italy). Then there was Belgium who was neutral in amidst countries declaring war on each other. Countries in Europe were insecure about their armies and navies, which ultimately led to the arms race or militarism.Many countries in Europe wanted the best armies or naval fleets. During that particular time Britain had the largest naval fleet and Germany had the largest land army. The German naval fleet was growing larger and Britain was feeling threatened. The other countries also began to hoard military equipment and enlarge their army and navy fleets.

Discuss William Shakespeare's Othello, the Moor of Venice as a Tragedy Essay

Discuss William Shakespeare's Othello, the Moor of Venice as a Tragedy - Essay Example A person of great stature can be a tragic hero not anyone else and these guidelines were followed by almost all the great writers, this goes to show a lot about Aristotle and his achievements. William Shakespeare also incorporated Aristotle’s guidelines in his tragedies. Hamlet is a classic example of the same, Hamlet suffers all along in the tragedy, he was the tragic hero because he was a person with great stature, the Prince of Denmark. Aristotle also wrote about tragic flaws and how the same affected the tragic hero. This paper will shed light upon Othello and how the tragic hero suffers excessively in the tragedy. Othello is a tragedy written by William Shakespeare. William Shakespeare is a household name and he has become a household name because of his exquisite work in literature. Othello is a masterpiece written by Shakespeare and this paper will shed more light upon this tragedy. Othello- The Tragic Hero The role of jealousy is crucial in Othello, human beings have a ll been gifted with very powerful emotions and jealousy is one really strong emotion which can have a lasting impact in a relationship, it can completely destroy a beautiful relationship and the same happens in Othello. The seed of jealousy once planted can have serious ramifications on a relationship. The most important thing is that jealousy does not remain jealousy in Othello, it very soon turns into anger and the same has serious impact on the lives of the characters in the tragedy. Everything revolves around the tragic hero and in this game the tragic hero is none other than Othello, his jealous and extremely possessive nature causes trouble beyond imagination in the tragedy. How Jealousy takes a toll on the Characters Every tragic hero suffers from a tragic flaw and the very same tragic flaw leads to the downfall of the tragic hero, it causes excessive suffering and pain beyond imagination. The tragic hero or the protagonist in this tragedy Othello suffers from the tragic flaw of jealously in the tragedy. Other characters are well aware that he is a very jealous man and they exploit his weakness to the fullest. Iago is the mastermind in the tragedy who tries to dethrone Othello; he exploits the jealous nature of Othello to turn his people against him. He creates several misunderstandings to put Othello in a fix and he succeeds in doing so on numerous occasions. Othello is very extremely possessive of his wife Desdemona and he often says â€Å"My Desdemona† in the tragedy. These words clearly show his obsession for his wife and the same obsession causes a lot of trouble in the tragedy. He firmly believes that he has won her; she was more like a trophy to him than a wife. Possessiveness is also a very big sign of jealously. This again goes to show the jealous nature of Othello, a major reason for his downfall was his jealous nature and there are no two ways about it. He is also an extremist and his behavior is also violent in the tragedy at times. H e loses his head when the handkerchief goes missing; his impulsive nature leads to his destructions. He is of swaying nature; he thinks that his wife has been unfaithful to him which again goes to show how he can easily be influenced by other people who he considers his well-wishers. His jealous nature comes to the forefront after the intervention of Iago, before his intervention there are no

Amniocentesis Essay Example | Topics and Well Written Essays - 500 words

Amniocentesis - Essay Example This sampling allows the doctors to look for any genetic abnormalities in the chromosomes, infections, or any other possible factors which could impact the fetal development. For example, defects in chromosome 21 such as trisomy-21, can be detected and can help later on should Down syndrome develop. One of the most common things that the process can pick up is the Rh factor. This is where the blood type of the baby does not match the blood type of the mother. In this case an immunosuppressant, Rh immunoglobin, has to be given to the mother in order to keep the mother’s immune system from attacking the fetus. This procedure is usually conducted between fourteen and twenty weeks; however it has been known to be performed as early as eleven weeks. The procedure itself takes around forty five minutes to complete and results can be handed back between a few days and a few weeks (American Pregnancy Association, 2006). There are, however, potential risks associated with the use of am niocentesis which should be taken into account for. The primary risk associated with amniocentesis is miscarriage. The most obvious, but rare complication, is that the needle actually hits the developing fetus and damages them. This is closely controlled through the use of sonogram technology.

Global GDP, Death Rate, and Life Expectancy Research Paper

Global GDP, Death Rate, and Life Expectancy - Research Paper Example First, as per capita GDP increases, the life expectancy also increases for that country. Second, as per capita GDP increases the death rate would decrease for that country. The data was gathered from the US Central Intelligence Agency Factbook available online. Information was gathered from 220 countries that listed their per capita GDP, death rate, and life expectancy. Every attempt was made to use the most current data available, and all of the data was from 2007-2008. No data used was older than the data from 2007. The per capita GDP was the 2007 rate, and the death rate and life expectancy were based on 2008 estimates. From this list of 220 countries, a group of 30 countries were selected for analyzing by the following method: The countries were sorted in ascending order according to the per capita GDP. The highest and the lowest countries were eliminated. The countries were selected by choosing every seventh country from the list, resulting in a final list of 30 countries. Standard deviation was calculated using the n-1 method using the Excel spreadsheet. The per capita GDP had a high of $79,400 in Luxembourg and a low of $300 in the Democratic Republic of the Congo, for a range of $79,100. The mean per capita GDP was $7600, with a standard deviation of $17,635. Though the United States was not on the list used for evaluation, it is included as a reference point at $45,800. The Death Rate The Death Rate is measured in deaths per 1000 population. It ranged from a low of 3.53 in the Gaza Strip to a high of 22.33 in Lesotho for a range of 18.8. The median death rate was 7.49, and a standard deviation of 4.11. The median death rate is marginally less than the US's 8.27. Life expectancy is listed in years and ranged from a low of 40.17 years in Lesotho to a high of 79.36 years in Austria. The life expectancy range was 39.19 years and a median life expectancy of 73 years with a standard deviation of 9.91 years. The global median life expectancy is below the US's life expectancy of 78.14 years. Tables 1, 2, and 3 are the comprehensive lists of the data used for this research that has been ordered by per capita GDP, death rate, and life expectancy. The Data: Initial Examination For an initial examination of the data, it is helpful to view the information on a histogram. This gives a visual indication of the range of the data as well as the distribution across the range. Figures 1, 2, and 3 are the histograms that represent the per capita GDP, death rate, and life expectancy respectfully. Table 1: Data sorted by per capita GDP Country Per Capita GDP Rank Per Cap GDP Death Rate per 1000 pop Rank Death Rate Life Expect Life Exp Rank Luxembourg $79,400 1 8.43 18 79.18 3 Ireland $46,600 2 7.77 15 78.07 5 Austria $39,300 3 9.91 21 79.36 1 Germany $34,100 4 10.8 24 79.1 4 Faroe Islands $31,000 5 8.67 19 79.29 2 Bahamas, The $28,000 6 9.22 20 65.72 24 Czech Republic $24,500 7 10.69 23 76.62 8 Oman $19,000 8 3.68 3 73.91 12 Latvia $17,700 9 13.63 28 71.88 18 Poland $16,200 10 9.99 22 75.41 10 Botswana $14,300 11 14.02 29 50.16 29 Mexico $12,400 12 4.78 7 75.84 9 Cuba $11,000 13 7.19 14 77.27 6 Saint Vincent and the Grenadines $9,800 14 5.96 10 74.34 11 Thailand $8,000 15 7.17 13 72.83 17 Ecuador $7,200 16 4.21 6 76.81 7 American Samoa $5,800 17 4.13 5 73.47 14 Tonga $5,100 18 5.12 8 70.44 20 Maldives $4,600

Formats of Income Statement and Balance Sheet Essay Example for Free

Formats of Income Statement and Balance Sheet Essay Income statement: In the case of sole proprietary and partnership concerns there are no prescribed forms of the income statement and balance sheet. Their preparation is also desirable but not compulsory. However, they are generally prepared. In the case of trading concern, a trading account and in the case of a manufacturing concern, a manufacturing account and a trading account can also be prepared. In such a case, the account heading is mentioned as follows: Manufacturing/trading and profit and loss account. In the case of joint stock companies preparation of the profit and loss account and balance sheet every year is compulsory. There is no prescribed form (except in the case of banking and insurance companies) of the income statement or profit and loss account. The account is titled as Profit and loss account The results of manufacturing and trading activities may; however, be shown separately in the account. The profit and loss account is usually prepared in a T shape. In the case of joint stock company, the manufacturing, trading and profit and loss account is prepared in the above format except with three modifications: I.The heading given is only Profit and loss account for taxation in the profit and loss account; II.The net profit is shown after making provisions for taxation in the profit and loss account; III.Figures, for the previous period, if any, have also to be given. Profit and loss appropriation account: In the case of joint stock companies, a profit and loss appropriation account is also prepared. It explains as to how the profit earned during the period has been distributed. Balance sheet: There is no prescribed form of balance sheet for a sole proprietary or a partnership concern. However, the assets and liabilities may be shown in any of the following orders: I.Liquidity order II.Permanency Order In case the concern adopts liquidity order, the assets which are more readily convertible into cash are taken into account initially and those which are not so readily convertible are taken into account subsequently. Similarly those liabilities which are payable first are taken into account initially and those payable later on are taken into account subsequently and so on. In the case of permanency order, the reverse order is followed. As per the law applicable to some governments, every balance sheet of a company shall give a true and fair view of the state of affairs of the company as at the end of the financial year. Similarly, every profit and loss account of a company shall give a true and fair view of the profit or loss account of the company for the financial year.

Segmentation Targeting and Positioning Analysis Theory

Segmentation Targeting and Positioning Analysis Theory Kotler (1994, p. 93) has pointed out that the strategic marketing planning process flows from a mission mission and vision statement to the selection of target markets, and the formulation of specific marketing mix and positioning objective for each product or service the organization will offer. Proceeds to segment the market, select the appropriate market target, and develop the offers value positioning. The formula segmentation, targeting, positioning (STP) is the essence of strategic marketing Restrepo (2010, p1). Source: Segmentation, Targeting, and Positioning (2010)http://www.consumerpsychologist.com/images/cb/STP.png http://www.consumerpsychologist.com/cb_Segmentation.html Today, India is one of the worlds fastest growing economies. With having a wide geographical area of about 15,200Km and a coast line of 7,500 Km over a billion people .According to Financial times (2004) the GDP growth rate was less than 1% in 1991, however by 2003 the figure grew by 8.5%. Button et al (1999) argues that because of the growth of Indias IT industry, the number of travelers has grown rapidly. Due to which Indias Travel and Tourism generated $38.8 billion in 2004 and it is expected to raise $ 90.4 billion by 2014. According to the centre for Asia pacific Aviation (2005), Indian airlines have ordered a total of 490 aircraft over the last few months. Which in turn it is expected a growth of 164% compared to a world average of only 2.7% Connell Williams (2006, p.358). Connell Williams (2006) states that Indias domestic air travel has grown rapidly due to the growing wealth of Indias population. At the beginning of 2005, there were only four domestic airline services Indian airlines, Air Sahara and Jet airways and Air Deccan which was the low cost carrier. Company background Air Deccan: Air Deccan (2009), Indias first low fare and fastest growing airline was formed in 2003 with the vision to empower every Indian to fly by providing the lowest airfares and connectivity to unconnected towns and cities. Deccan is a business unit of Deccan Aviation, Indias largest private helicopter charter company, which pioneered helicopter tourism in India. In 1997, a group of old army buddies led by Capt. Gopi decided to pool in their vast experience and knowledge of aviation and geography to launch Indias first Private sector helicopter charter company. Deccan Aviation was started in 1997 with one helicopter, it now has a fleet of 10 helicopters and 2 fixed wing aircraft deployed across eight bases at Bangalore, Mumbai, Delhi, Ranchi, Hyderabad, Surat, Katra and Colombo (Sri Lanka). Deccan Aviation provides helicopter charter services for a range of aviation activities like helicopter tourism, aerial coverage of sports events, heli- skiing and rappelling, aerial reconnaissance and photography, and also undertakes logistic support for off shore oil explorations, geophysical mineral survey, power line survey, emergency medical evacuation, V.I.P. movement, film production etc. The result was Deccan, Indias first low cost, no frill airline, which was launched on the strength of a simple dream. A dream inspired by just one statement. I want every Indian to fly at least once in his/ her lifetime. (Captain Gopinath, CEO, 1995) The first flight was launched on 23rd August 2003 from Bangalore to Hubli. Since then forward innovation and cost efficiency has been the main reason of our business philosophy and strategy. The business model is robust, scalable and aligned to the dreams of nation building by making air travel a mass commodity. We pride ourselves on our out of the box strategies which have created several firsts in Indian aviation and also made air travel affordable, available and easily accessible to the common man of India. Source: Destinations of Air Deccan (2009) Growth Story: India government is considering the growth of aviation sector especially of the private sector in aircraft manufacturing, operating and upgrading airports and by providing enhanced ground services. According to ICFDC (2004) The Indian aviation sector has four types of operators domestic airlines, operating within India and select International destinations, International airlines, chartered air operators and air cargo service providers, whose services include air transportation of cargo and mail. According to the Director General of civil aviation (2006), when Air Deccan began its operation in August 2003, with a single aircraft from Bangalore to Hubli, Air Deccan has seen a phenomenal growth. Air Deccan now has an Aprx 266 flight which runs on a daily basis. As of March 2006, Air Deccans market share is at 19%, making it the third-largest airline in the country. Currently, the carrier employees apprx 2,600 employees. As of Nov 30 2005, Air Deccan had flown apprx 2.7 million passengers.( Air Deccan,2009) Vision and Mission: According to Air Deccan (2009), Captain Gopinaths vision has helped the lives of Indias masses where they realized through Air Deccan, which is a pioneering low-cost business model. The airline has played a significant role in making the common mans dream to fly which has come true. However, the airline plans to fly a large number of destinations in India by connecting millions of people (Captain Gopinath, CEO, 2004). Basic Idea behind the modeling approach: STRENGTHS à ¢Ã¢â€š ¬Ã‚ ¢ Leader in LCC market à ¢Ã¢â€š ¬Ã‚ ¢ Highest load efficiency à ¢Ã¢â€š ¬Ã‚ ¢ Flies to destinations in the hinterland WEAKNESS à ¢Ã¢â€š ¬Ã‚ ¢ Focuses on South Indian market à ¢Ã¢â€š ¬Ã‚ ¢ Image plagued by frequent breakdowns and near misses à ¢Ã¢â€š ¬Ã‚ ¢ Very limited advertising à ¢Ã¢â€š ¬Ã‚ ¢ Reached at the threshold of cost efficiency OPPORTUNITIES à ¢Ã¢â€š ¬Ã‚ ¢ Extensive network to capitalize Air Cargo business à ¢Ã¢â€š ¬Ã‚ ¢ Plenty of scope for expansion of operations à ¢Ã¢â€š ¬Ã‚ ¢ Strengthen its position in Chartered flight segment à ¢Ã¢â€š ¬Ã‚ ¢ could start Contractual Employment THREAT à ¢Ã¢â€š ¬Ã‚ ¢ High attrition rate à ¢Ã¢â€š ¬Ã‚ ¢ the threat of new entrants into Low Price Segment especially Indigo, Go Air, Spice jet and Jetlite. à ¢Ã¢â€š ¬Ã‚ ¢ High risk perception. As mentioned in Air Deccan (2009) Air Deccan has plenty of scope for expansion of operations; also it has been in operation since last 5 years, so kingfisher with the merger could get the opportunity to fly internationally and Air Deccan with facing constant threats from the ever emerging low cost carriers, higher attrition rate and requirement for capital had no other better option than to accept the offer of getting merged with Kingfisher. Marketing Strategies: Segmentation: High aircraft utilization was the first of Air Deccans strategies as it would directly result in high revenue generation. The success of the Air Deccan is by its well planned operational routes. The Air Deccan operates from six bases, which are located in the metropolitan cities of Mumbai, Delhi, Chennai, Kolkata, Bangalore and Hyderabad. Further these bases are connected to other regional locations through regional routes. The main strategy of Air Deccan is to pursue unexplored routes which would result -high yield and high load factor (Sampler, 2006). Positioning: The main success behind Air Deccan is because of its unique pricing model. In the pricing model seats which were booked well in advance had lower fares, whereas the seats booked closer to the travel date had higher fare. However, this helped the airline to maximize its revenues from ticket sales as well as maintain high seat occupancy. By commenting on additional revenues, Captain Gopinath (CEO, 2005) states that With an average passenger spending INR 75 for a quick meal or beverage, Air Deccan could have easily generated additional revenue worth INR 202.5 million from 2.7 passengers that had flown on the airline till November 2005. Targeting: Air Deccan (2009) has achieved tremendous growth due to their marketing and promotion strategies. The airline utilized its marketing and promotional programs effectively to highlight the competitive advantage with the result of its low fares. The target segment which is for the customers who are cost-conscious, Air Deccan choose cartoonist R K Laxmans famous mascot The common man as its brand ambassador. The airline advertisement is generally through media like print, radio, and bill boards. The airline has entered into various sales which have provided Deccan with additional advertising slots on television, newspapers and radio. Word Count: 1,335. Referencing: Anonymous. (2010). Segmentation, Targeting, and positioning .Available: http://www.consumerpsychologist.com/cb_Segmentation.html. Last accessed 11/12/2010. Annonymous. (2009). Deccan simply fly. Available: http://www.deccanair.com/aboutus.html. Last accessed 12/12/2010. Annonymous. (2010). Centre for Asia Pacific Aviation. Available: http://www.centreforaviation.com/. Last accessed 12/12/2010. Button, K.J., Lall, S., Stough, R., Trice, M., 1999. High-technology employment and hub airports. Journal of Air Transport Management 5, 53-59 Financial Times, 2004. From Indias forgotten  ¬Ã‚ elds, a call for economic reform to lift the poor. Kingfisher-Deccan Merger. 12 Dec. 2010 http://www.antiessays.com/free-essays/47835.html Kotler, P. (1994), Marketing Management: Analysis, planning, implementation, and Control, 8th edition, Prentice Hall, Inc., Englewood Cliff, New Jersey. OConnell.F.J, Williams.G.. (2006). Transformation of Indias Domestic Airlines: A case study of Indian Airlines, Jet Airways, Air Sahara and Air Deccan. Journal of Air Transport Management. 12 (1), 358-374. Restrepo.A.J.. (2010). SEGMENTATION TARGETING POSITIONING.Available: http://pdfcast.org/pdf/segmentation-targeting-positioning. Last accessed 11/12/2010. Sampler.L.J. (2006). Air Deccan. Available: http://web.mit.edu/cisr/working%20papers/cisrwp365.pdf. Last accessed 11/12/2010. Marketing ethics and social responsibility an opportunity for competitive advantage or a constraint on marketing decisions? Discuss citing appropriate examples. Introduction: Carrigan Attalla (2001, p.560) states that Marketing ethics and social responsibility are inherently controversial, and years of research continue to present conflicts and challenges for marketers on the value of a socially responsible approach to marketing activities. According to Laczniak Murphy (1993) since few years there are certain controversy revolving around marketing ethics and social responsibility, researchers and scholars are continuing to work on it. Smith Quelch (1996) states that most of the company would like to think that being a good company will attract customers with their products, while it has seen that by the unethical behavior customer would reject their offer/products. The basic idea behind focusing marketing is by its products and services with the environment, where customers play a very important part by representing (Vaaland et al, 2007).As mentioned by Vaaland et al (2007, p.929): Marketing is the process of planning and executing conception, pricing, promotion and distribution of goods, ideas and services to create exchanges that satisfy individual and organizational goals. According to Singhapakdi et al (1995), Social responsibility is been given so much importance because, E.g., some public companies undergo social responsibility which might limit profits and disagreement of the social responsibility. However, he also argues that, the international researchers have not identified in detail to which marketers across the countries assume that ethics and social responsibility are important for their organization for their growth. And also argues that, first managers should be aware of the ethics and social responsibility to have the organization grow before their behavior become more ethical and reflects greater social responsibility. Social responsibility in marketing: As Laczniak Murphy (1993, p.5) states that, both ethics and social responsibility have to make a positive impact towards the success of an organization, due to which customers make ethical judgments that are likely to influence their purchases. As he has told that: Customers over time will normally recognize the organizations that attempt to be responsive to various ethical and social factors in the marketplace. The ethics era: Hunt and Vitell ( 2006, p.3) pointed out that An individual perceives a situation as having ethical content, the next step is the perception of various possible alternatives or actions that might be taken to resolve the ethical problem. http://www.emeraldinsight.com/content_images/fig/2160040303002.png As Hoddow (2001) states that even though, the researchers are working on this field ETHICS since 30-40 years its still not possible to have achieved the answer of what exactly is the social responsibility of marketing. According to BBC (2001) there have been lot arguments which have been made by governments and organizations with regarding to the ethical issues. E.g., Companies like Oxfam and Medecin sans Frontieres on allowing cheaper access for consumers of drugs like AZT. Globally, there are many organizations and institutes which are established to do research and promote ethical business behaviour like for E.g., European Business Ethics network, Hong Kong Ethics Development Centre. There has been given a lot of importance to the field of marketing as it has grown rapidly and developing a strong ethical profile, academically and professionally, marketers are finding it difficult to ignore the gap of ethics of what the society is expecting and what marketing professionals are delivering (Carrigan Attalla, 2001). Ethical Consumer Behaviour: According to Hunt and Vitell (1992) it has been seen that a lot of attention is given to marketing ethics in the current years, irrespective of that it is been unsuccessful to see the buyer side of the exchange process. However, it is a fact that the customers are more informed, more educated and are aware of their consumer rights and product requirements in most of the western society. However, a study conducted by Boulstridge and Carrigan (2000) examined customers response to ethical or unethical behaviour, where they found out that the most customers did not have more information weather a company did or did not behaved ethically. E.g., Nestle and Exxon. Even though many people believed that social responsibility is not important while considering in their purchasing behaviour, even with knowledge about unethical activity, some customers still bought goods from the company. The main reason why consumers bought these products is because of price, value, and quality and brand familiarity rather than societal ones. Ulrich and Sarasin (1995) say that, one thing is clear, dont do any research. Dont ask the public any questions on this subject. The answers are never reliable. In instances where the head says one thing and the heart another. Studies are useless if not misleading (Carrigan and Attala, 2001, p.566). Performance framework: Friedman (1962, p.133) argues that few trends could so thoroughly undermine the very foundations of our free society as the acceptance by corporate officials of a social responsibility other than to make as much money for their stockholders as possible. The framework by Carroll (1995) gives us the idea and the present condition of what corporate social responsibility theory and their role within the corporate social performance framework. http://labspace.open.ac.uk/file.php/4778/!via/oucontent/course/132/pyramid.gif Figure 2: Source: Carroll (1995, p.49). The pyramid of corporate social responsibility. According to Windsor (2001), Carrolls four dimensional pyramid of responsibility structures the crude notion of various corporate social responsibilities into a construction of pyramid. And the pyramid consists of economic responsibilities which are the foundation and philanthropy is the apex. The construction of the pyramid is such that the other responsibilities will not be achieved in the absence of economic performance. Economic and legal responsibilities are socially required, ethical responsibilities are socially accepted and philanthropy is socially desired. Socially Responsible firms: When asked to identify the socially responsible firms, many would point out on Marks and Spencer, because as Jobber (2010, p.182) mentioned that MS aims to go carbon neutral, send no waste to landfill, extend sustainable sourcing, help improve the lives of people in its supply chain and help customers and employees live a healthier lifestyle. According to Carrigan Attalla (2001) companies like JCB, Nissan and Co-operative bank followed ethical behaviour to an extent and when one trying to think of being a good citizen one respondent said: There really arent that many .I am sure they are all unethical to some degree. (Anonymous, 2008). Companies like Microsoft, is well known as philanthropy. Bill gates, fights for many of the worlds diseases with his foundation with Melinda Gates. The foundation has given $ 20.1 billion since its first set up (Jobber, 2010).There are few well known companies which they have been registered as a poor social responsibility for many reasons, E.g, LOreal for their animal testing, NatWest due to their financial investment with animal research centres and Shell and BP for their poor environmental pollution and poor employee relations (Carrigan Attalla (2001). As mentioned by Carrigan Attalla (2001, p.569) the attitudes of many consumers would include when you buy petrol, you do not think of those companies that are or not ethical, it does not even cross your mind. I would only fill up elsewhere if it caused no inconvenience to me. However, the behaviour of the ethics needs to be changed or it has to be convincing to the people in order to make them buy or have believe in the products. As we have discussed above about few companies and have seen the reaction of customers buying behaviour as the just buy the products because of their convince and or are for the brand name. All these show us that the customers are passive ethical shoppers other than the active consumer shoppers (Carrigan Attalla (2001). Conclusion: It has been seen from the study whether the customers care about the marketing ethics and social responsibility which would influence them on their buying behaviour. It has also seen that researchers have studied the consumers buying behaviour and they have to say that the many of them give very less attention to ethical considerations when it comes to their buying or decision making behaviour. Carrigan Attalla (2001) states that the link between the social responsibility and marketing ethics and consumer purchase remains unproven but also one should not conclude with the development of ethical marketing policy and social responsibility. Word Count: 1,376.