Branded Identities Essay Example | Topics and Well Written Essays - 2750 words

Branded Identities - Essay Example Similarly, the identities of brands, being closely linked with consumer behaviour, also have different value and impact over consumers' choice. Consumerism: Concept of consumerism has gone through various chronological advances. Traditional consumer models believed consumers are not effected by any influences but by their own brain's instinct and external factors like family, friends, choices cannot influence their buying decisions. This theory could not survive longer as it was limited in conception and did not fulfil the needs of various analyses. Traditional theory considered consumers as information processors who are not affected by any choices and alternatives available. On contrary it also describes that companies can dominate the mind of customers and customer don't bother about available or missing information. (Simon, 1955, Q. J. of Econ.) "The existence of underlying preferences is a vital scientific question for economists. If the answer is affirmative, then the evidence from cognitive psychology implies only that economists must look through the smoke screen of rules to discern deeper preferences that are needed to value economic policies. This is a difficult task but not an impossible one. If the answer is negative, then economists need to seek a foundation for policy analysis that does not require that the concept of 'the greatest good for the greatest number' be meaningful. I am guardedly optimistic that the question has an affirmative answer." (McFadden, D. 2000. p. 345-346). Consumerism & Psychology: Similarly, consumerism and psychological aspects are also attached together. Various theories are presented to establish a strong link between these two. Weber's ([1904] 1998) "iron cage" is also the depiction of psychological trap of consumers. Furthermore, Psychologist Barry Schwartz (1994), also is of the opinion that external and demographic factors psychological influence a person's buying behaviour. Barry Schwartz believes that companies offer incentives and psychological benefits to customers which are in real life very much meaningful for the consumers and consumers has a sense of achievement by having these benefits with them."By embracing the "freedom" of the marketplace in all aspects of our lives, we find that many of the things we value most deeply-meaningful, satisfying work; intimate, compassionate friends, family and community; real education; significant spiritual and ethical commitment; political involvement; and even, ultimately, material well-being-are increasingly difficult to achieve." (P. 10) Consumerism and its Historical, Social and Economic Impact: Cognitive psychologists believe that culture is manifest in peoples mind. (DiMaggio 1997, p.272; Cf. Shore 1996). They also believe that historical aspect and social background, and consumers' experiences play a vital role to develop their self-concept and identity. Different consumers behave differently because of their difference in socio-cultural background, behavior and economic perspective. 'Iron cage', is in fact, 'mental cage' that is influenced by various culturally framed mental fields.(Zerubavl 1991). Further

Finance For Managers Assignment Example | Topics and Well Written Essays - 5000 words

Finance For Managers - Assignment Example 1 Profitability Ratios â€Å"It is impossible to assess profits or profit growth properly without relating them to the amount of funds (capital) that were employed in making the profits. The most important profitability ratio is therefore return on capital employed (ROCE), which states the profit as a percentage of the amount of capital employed† (BPP 2009). Profitability ratios are usually calculated in order to perform vertical analysis or to compare one year with another. These ratios include net profit margin and gross profit margin, return on capital employed (ROCE), earning per share (EPS) and price earning (P/E) ratio. The net profit margin, gross profit margin and ROCE are the only ones that are relevant for this exercise. The calculations for the four divisions are shown in Table 1 in the Appendix. Profitability The ROCE may be used to assess how well the management of the divisions have performed (BPP 2009, p. 306). Two ratios may be used to help explain ROCE. They a re profit margin and asset turnover. These ratios are described as secondary ratios while ROCE is described as a primary ratio. Profit margin is calculated under profitability while asset turnover has been included with efficiency ratios. ROCE can be used to determine whether the divisions are getting value for money from borrowings to make it worthwhile. Quality Products Division The figures for ROCE suggest that there have been consistent improvements over the three year period. The figures have increased from a negative 6.9% return to a 7.7% return in 2008 and a 9% increase in 2009. However, management indicates that the division needs to achieve a 10% return on investment (ROI) and it is currently below that level. The figures also indicate that the profit margin of the Quality Products Division has improved over the past years from a negative 5.7% in 2007 to 5.7% in 2008 and 6.4% in 2009. The gross profit margin has also increased consistently from 38.9% in 2007 to 40.4% in 200 8 and then to 41.4% in 2009. Kitchen Division There was a significant decline in the ROCE from 16.9% in 2007 to 11.9% in 2008, followed by and small decline to 11.4% in 2009. This is above the 10% ROI that the division needs to achieve. There have been inconsistencies in the profit margin over the period. The profit margin declined from 5.3% in 2007 to 3.6% in 2008. However, there was a marginal increase to 3.9% in 2009. The gross profit margins for the period declined from 39.2% in 2007 to 36.2% in 2008 and increased to 37.6% in 2009, which is not consistent with the changes in net profit. This was due to a more than proportionate increase in cost of sales. Bedroom Division The ROCE declined from 11.8% in 2007 to 11.2% in 2009. This is above the 10% ROI required by management. However, the profit margin is very small even though it increased from 3.5% in 2007 to 4.1% in 2008 and declined to 4% in 2009. This was in spite of the consistent decline in turnover. The gross profit margin increased from 26.4% in 2007 to 31.4% in 2008 and a decline to 29.8% in 2009. This was so because the ratio of cost of sales to turnover was proportionately higher in 2007 then in 2008 and 2009. Office Division The ROCE declined for 14.2% in 2007 to 11.2% in 2008. However, it improved during 2009 to 12.5%. These percentages are above the ROI of 10% required by the management. There was a decline in

Week 7 Hand-in Assignment Essay Example | Topics and Well Written Essays - 750 words

Week 7 Hand-in Assignment - Essay Example Of late, use of secure versions of HTTP and HTML (called HTTPS and SHTML respectively) has made micro-payment systems faster and safer. (Visa, 2012a; Visa, 2012b; Michel, 2001) Payclick deploys the basic principles of e-commerce transaction management. The working methods satisfy both the international legal and technical standards. It can be stated that it operates through a peer-to-peer fiscal management framework which involves extensive but careful utilization of the Internet. â€Å"An example system includes a payment processor that executes software instructions for creating and managing electronic payment accounts and an accounts database to store account data from the payment processor. The payment processor may be configured to receive a payment request from a payer, the payment request including information to identify a payee and a payment amount.† (Perlman. 2011, Abstract) In other words, simplicity of a micro-payment system lies in its transaction processing method. The main challenge is to keep the costs of the transaction processing and delivery charges as low as possible, hence less complicated and simply synchronic IT applications are called for. Principle of working of Payclick is basically the same as explained by Perlman (2011). According to the company, â€Å"You (the customer) can add funds to your payclick account using your Visa, MasterCard, credit, debit or prepaid card, or your bank account through BPay. And that’s that. You are ready to buy online wherever you see the payclick button.† (Visa, 2012a) Payclick thus supports small value payments at lower costs of transaction with least holdup and in exchange to the services and products that are instantaneously deliverable. The money transferring processes are hassle free and supported by several vendors and technologies to impart greater suppleness and

Employability after Graduation Essay Example | Topics and Well Written Essays - 1000 words - 2

Employability after Graduation - Essay Example How my plans fit with the comments within the context of the current labor market In making career plans for employability, it is important to consider the context of current labor market trends. Some of these trends have well being discussed by Brown et al (2002) in their article. In the first place, my theme of focusing on labour demanding-but-supply inadequate career choice is certainly in the right direction as Brown et al (2002) posit that graduates employability much rests with â€Å"whether they find employment will depend on whether there are other more qualified or experienced people looking for the same kinds of work†. Demand and supply of labor market have been an issue for a very long time and it is an open secret that some career courses studied at the university open learners to more readily available jobs than others. In a career with ready-made job openings, it is common to see employers and entrepreneurs at graduation ceremonies only to chase after graduates. In simple terms, some courses studied at the university makes graduates more employable than others if we want to believe in how Brown et al (2002) put the definition of employability saying employability has to do with â€Å"relative chances of finding and maintaining different kinds of employment†. To this effect, my decision to study to be a web designer was in the right direction. This is because the influence and power of the internet are gaining so much grounds in the business world today that almost every company is looking for a way to go electronic via the internet. This has called for the mad rush of web designers. Supporting this notion, the Business.Com states that â€Å"all companies need web design†, which means that there are usually more jobs than graduates. In the second place, my plan of being a measure of standard among colleagues with the same qualification is in line with the relative dimension as discussed by Brown et al (2002) in their article. A ccording to Brown et al (2002), â€Å"Employability not only depends on fulfilling the requirements of a specific job but also on how one stands relative to others within a hierarchy of job seekers.† This means that a student or graduate with a meaningful sense of securing employment or becoming employable must have a plan or orientation that sets him above other contenders in the search for a job. As Hirsch (1977) suggests, ‘If everyone stands on tiptoe, no one sees better’ (p.5). This means that as much as others are standing on tip-toe, there should be an effort to stand taller than all the others. There is a common saying that if all people are sitting, strive to stand and if all people are standing, strive to stand out; but if all people are standing out, try to be the standard.  Ã‚  

Position paper on Videogame or Media Violence Essay

Position paper on Videogame or Media Violence - Essay Example Human beings are naturally not inclined towards killing and violence. However, the increased rate of violent crimes within different societies suffices to suggest that there exists a motivation towards violent behavior. Children are exposed to violent and crime scenes in various media platforms. Grossman argues, â€Å"It begins at the age of eighteen months when a child can begin to mimic what is on television† (2). Children are exposed to these violent scenes at the time of cognitive development. This implies that their cognitive patterns follow a violent trail. Indeed, â€Å"some of them embrace violence and accept it as a normal and essential skill in a brutal new world† (Grossman 2). When these children grow up, the violent behavior is entrenched within them. Continual involvement of the brain in violent video games can cause a phenomenon similar to classical conditioning whereby the players react subconsciously to situations in a violent manner due to the conditioning. In fact, President Clinton, as quoted by Grossman (3) claimed, â€Å"these games teach young people to kill with all the precision of a military training program.† Since children are at their developmental stage, rigorous and continued active involvement in violent video games conditions their delicate brains to violence. The present development in technology has made it possible for video games to have realistic characters (Barlett and Rodeheffer 1). The scenes are a real reflection of the real world. This has been highlighted as one of the primary cause of violent behavior among children exposed to violent video games for a long time. Barlett and Rodeheffer (11) found out that â€Å"if one plays a realistic violent video game, there will be an initial increase in aggressive thoughts and arousal and in aggressive feelings.† This increases the possibilities of violent actions from the video games being replicated in

Of The Monetary Model Essay Example for Free

Of The Monetary Model Essay The exchange rate determination in UK is not an exception to the contemporaneous developments in econometric theory in economics field. This is because the economic world today is competitive and dynamic. This competition and dynamism that engulfs the economic arena of exchange rate require keen studies to establish the reliability and validity of monetary models used in determining the exchange rate. United Kingdom enjoys a relatively good and positive economy than other European counterparts. Evidently, sterling pound is strong against the euro and even the US dollar. This is because of the nature of economic structure and policies. In addition to that, UK attracts large quantity of foreign investors due to its open economy. Thus, in policies regarding to monetary policies especially exchange rate determination should be good enough to sustain and attract other foreign investors. It is in this line of thought that this dissertation chapter shall empirically examine exchange rate determination in UK. In order to do that effectively, the paper look forward to validate the monetary model in the determination of the sterling pound exchange rate by applying cointegration methodology. Introduction Exchange rate determination has a long history in the UK, this date back from Bretton wood era when exchange rate was fixed by agreement in relation to United States dollar from 1944 to 1971. However, after the United States government cancelled its undertaking to buy gold at a fixed rate the peg was abandoned. The new approach to exchange rate determination from 1971 was inevitable. United Kingdom and other countries were adopted a float to the currency, such that the price of sterling pound currency in terms of another currency was determined by foreign currency money market. But today, the exchange rate determination regime is based on the exchange rates being adjusted at a regulated rate (Davidson, 1998; Dawson Baillie 2007; Fredrick 1968). Thus, the concern of this dissertation chapter on methodology is concerned about the validity of this regulation of exchange rate. Therefore, the objective of this paper is to empirically assess the relationship between sterling exchange rate with other major currencies and a vector of explanatory variables in the monetary model of exchange rates in order to establish whether the behavior of this exchange rate lends support to the monetary model. This is an interesting area of study in relation to its importance to businessmen, academicians, investors and policy makers. In relation to the importance of the exchange rate determination, Rogoff and Maurice (1996), states that; issues relating to monetary approach to exchange rate is a core area and remains vital to bilateral trade involvement especial to Britain and other nations. In regard to exchange rate determination aspect, the oversight of exchange rate history since 1970s (Richardson1979: 215), there has been a decline in the nominal value and fluctuations of the UK sterling pound in the world market against other currencies like US dollar and Japanese yen. This was as a result of the abandonment of the fixed exchange rates which were applicable across all transaction counters. But during the late 1990s the pound gained strengths due the available trade deficits with its trading partners. In this connection, Laurence, (2005) states that monetary models of exchange rates are to help the economical conscious mind to establish whether there is a way by which exchange rates in the money market enhances support for the monetary models. Literature Review on methodology The monetary approach to exchange rates remains and continues to be a key area for spartial and temporary research in relation to field of international monetary and financial management. Due to this importance, the substantial contribution by xxxxemphasisis that exchange rate is a core area and remains key to bilateral trade involvement. Thus, econometrics scholars emphasize on the proposition of monetary exchange unit as a prerequisite to bilateral trade rather than the transaction between the two trading partners (Davidson, 1998; Fredrick 1968). Exchange rate determination as a monetary exchange unit policy has bearing on the impact of trade and business transaction that may likely to occur between the UK and other trading partners. Therefore as a consequence, various studies have been done that constructs a rich body of knowledge that about the empirical examination of the monetary model in relation to the exchange rate determination in UK. The monetary theory in regard to exchange rates suggests that the nominal exchange rate is determined by contemporaneous excess supplies of money between United Kingdom and the other trading nation. Nations that adopts and adhere to a relatively restrictive monetary policy usually experience an appreciation of their currencies against that of their trading partners, while the nations that adopt and adhere to a relatively expansionary monetary policy experience a depreciation of their currencies against that of their trading partners. Therefore, theory application in practical aspect of econometrics in relation to exchange rate determination helps to project the proportional relationship between the relative money supply and the exchange rates between the bilateral trading nations for a specific period of time. The aspect of the theory that enables it to project the proportional relationship between the relative money supply and the exchange rates between trading partners of Britain, is important and has tangible and intangible implications at levels of policy, empirical and theoretical. For instance, at theoretical level the monetary approach is the basis foundation for United Kingdom open economy. The theory of open economy was adopted from work of Lucas (1982) of open economy quantity theory. While at policy level, the theory has impact on the structural adjustment programs. These structural adjustment programmes are sponsored by IMF, World Bank and exchange rate misalignment in monetary unions that UK is a partner like EMU (European Monetary Union). Due to this domestic and global implication of the monetary model, it has not only been widely accepted, but also widely tested model for exchange rates in econometrics. Rich body knowledge has been contributed by empirical Research conducted by other researchers like Wilford (1980); Haynes and Stone (1981); and Rogoff (1983), in their studies during the period of floating exchange rates to establish support for the model was not in favor of the model, since their evidence did not support the monetary model. While other category of researchers by Frankel, (1976); Billson, (1978); and Downburst, (1979). In their studies during the period of interwar and the periods of flexible exchange rates, the outcome of their results was largely supportive of the monetary mode. In an attempt to explain the reason for poor performance of the model, Rogoff and Meese, (1983); hypothesized that the reasons for poor performance of the model was due to the constraints imposed on relative monies, assumptions of purchasing power parity, incomes, exogeneity of money supply, uncovered interest rate parity, interest rates, and the statistical problems were some of the hindrance that were pointed out. However the new approach to the model that incorporated the use and the development of the cointegration and error-correction statistical technique awakened the research into empirical examination of the monetary model. Despite the renewed anxiety and drive for research to determine the validity of the model, there was mixed results coming from different researchers. For instance, research by Engle and Granger (1987); through employing a two-step cointegration methodology came up with negative response in support for a long-run relationship between exchange rates and the set of monetary variables as projected by standard monetary model. These results by Engle and Granger resulted to a low morale and discouragement for further research. Hoper was found by the research that was conducted by Taylor and MacDonald in 1994, which they used multivariate method of Johansen and Juselius. The results of studies of Taylor and MacDonald supported that the model determine with precision the stylized facts of recent float because the residuals were I (0) (Gardner 2007; Huston 1969; Jonson 1999; James, 2008) and the point estimates are close to their a priori values. In regard to recent work on the model was that which was conducted in the year 1998 by Diamandis. Diamandis employed relatively a more sophisticated approach to the study by using multivariate unit root test, cointegration test and panel unit root test that found a tangible support for the monetary model of exchange rates. Furthermore, Diamandis suggested that unrestricted monetary model is and should be a valid framework for explaining the long-run movements of exchange rates. To elaborate on the literature review, a lot has been covered by various scholars on the monetary model of the exchange rate in the UK and Europe at large. Ranging from empirical studies during the flexible exchange rate periods, during the inter war periods (1970s) in Europe was done by Fredrick (1968) and Huston (1969). While the study and research on floating exchange rates during the post war period was done by Davidson, (1998) and Granger, (2002). Who found that there were constraints imposed (Taylor, Lucio 2003) on relative interest rates, monies and incomes, in addition to assumptions of interest rate and purchasing power parity and exogeneity of money supply within Europe and UK included that lead to the unworthy performance of monetary models in relation to exchange rates determination. Up to the recent work by Diamandis that gave life to the monetary model through his supportive research outcome. The main reason for the high and intensity engagement in the research on the empirical test is all because the empirical monetary model of exchange rate is the most tested propositions in the country’s economic undertakings. Evidently, many scholars have had their take on the empirical determination of the exchange rate determination of which they have coming up with different and mixed empirical results. This paper shall seek to empirically investigate the efficiency, effectiveness, validity and reliability of the monetary model for the bilateral exchange rate between the UK sterling pound and other currencies like US dollar. In order to do this examination effectively, the methodological approach is the use of the Gregory and Hansen (1996); cointegration test.

English Song Essay Example for Free

English Song Essay The song is basically a tribute for Princess Diana for the genuine kindness and compassion she has shown to the people of England, especially to the common people. The Meaning of Each Stanza: The first stanza aims to bid goodbye to Princess Diana, with a promise that her acts of kindness be remembered in England. The composer also wants to tell everyone how lucky they are to be given a gift like her, who has been with them through difficult times. The second stanza shows how Princess Diana has shared and given hope to those who have nearly given up. The third stanza tells that the memories of Princess Diana will live forever in the hearts and minds of the people of England. The fourth stanza tells that the good acts of Princess D will always have a special place in England and it will never be forgotten even if she has already passed away. The fifth stanza tells that the death of the princess is considered a great loss among the people of England and that they shall always remember her for her deeds. The sixth stanza tells that the death of Princess D is a great sorrow for everyone and that they are thankful to her for her kindness when she was still alive. The seventh stanza expresses how the people felt for the princess death. They expressed how much they will miss her and that they will forever remember her acts of kindness. Connection to Real Life Experiences: If we could still remember, Princess Diana has helped a lot of poor and needy people during her lifetime. She was involved in so many activities with a goal of helping those in need. The song was composed to serve as a tribute for everything she has done for her countrymen and how she has helped them gain strength in the lowest points of their lives. By just listening to the song, one can already imagine how great Princess Diana’s impact was to the lives of her countrymen. Special Meaning of the Song Personally, I consider the song special because in a way or another, Princess Diana’s acts have touched me. The way she cares for the people in England is so pure and genuine that it makes me long to have a million more Diana in the world. Her compassion is extraordinary and since not everyone is capable of giving such selfless love, I really adore her and consider her as my model. Like the people of England, I grieved too when I learned of the princess’ untimely death. Figures of Speech Used: Metaphor is the most common figure of speech used in the song. An example is using Rose as a symbol to describe Princess Diana’s role among the people of England. The song also uses personification in this line â€Å"the stars spell out your name†. Of course the star cannot literally spell out her name because it is inanimate but it was regarded in this song as a living creature. Simile was also used when she was compared to a candle in the wind using the word â€Å"like†.