Customer intimacy and other value Disciplines Essay

Customer intimacy and other value Disciplines - Essay Example Redefining the value for customers in different markets is necessary because of the enormous differences in customer tastes, purchasing behaviors, attitude etc. Moreover, customers in different markets are socially, culturally, politically, and economically different and hence customized business strategies are necessary even for the same product at different markets. Parker Pen misread the globalization principles and tried to implement a unique marketing strategy for their pens in different countries and failed miserably. Moreover, an Indian customer may like to have some kind of discount while purchasing a car whereas an American customer may like to have a free offer along with purchasing of the same car. In other words, the car manufacturer should adopt different marketing or business strategies at different countries even for selling the same product. Building powerful and cohesive business systems based the characteristics of a market is another important strategy needed for the success of a business. For example, Americans like to purchase top quality branded goods even if the prices were too much whereas an Indian customer may prefer low prices even if the quality was compromising. In other words, it is difficult for the Benz car makers to sell their top models in India whereas same model could be the best seller in America. Same way, it is difficult for Indian car manufacturer Maruti to sell their cars in America even though they are the best sellers in the Indian market. If Maruti wants to sell their cars in America, they need to make necessary changes in their car models in order to make it suitable to the American market. Raising customers’ expectations beyond the competition’s reach is the third strategy needed for business success. Indian car manufacturer TATA recently unveiled world’s cheapest car NANO priced $ 2000. This car became a hot seller in Indian market and its booking is already

The First Opium War 1 question Coursework Example | Topics and Well Written Essays - 500 words

The First Opium War 1 question - Coursework Example This paper explores the first opium war and the role of the Western powers in spreading and controlling the use of opium in China and other regions in the period. â€Å"During the nineteenth century Great Britain led the Western powers in ‘opening’ China to trade and Christian proselytizing† (Tyner, 2006, p. 25). The trade inequity between the two nations favored China. Britain bought enormous quantities of tea from China, but offered less woolens to the Chinese. This led the Chinese to require transactions to be settled in silver bullion. In a bid to overturn the trade imbalance, Britain started importing opium into China. By 1817, Britain was trading opium for tea in order to offset their trade deficit with China. The Qing government initially permitted the importation of opium by Britain because it encouraged more export of tea from China to England, while creating an indirect tax for the Chinese citizens. Opium was grown in Indian cotton growing regions under the control of British East India Company (Bengal), which traded opium for tea, in China (Ramirez-Faria, 2007). Britain began trading in opium in 1781 with their opium trade growing immensely between 1821 and 1837. The British facilitated the influx of opium in China and other regions by importing large quantities of the commodity to China. In 1834, Free Trade revolutionists ended the monopoly of the British East India Company, which shifted trade into the hands of private merchants and entrepreneurs (Perdue, 2010). Americans brought in Turkish opium, which was of poor quality but cheaper. As such, there was price war leading to low price, but higher sales of opium. Consequently, the Chinese officials stepped in to intercept the transportation of the commodity into China (Tyner, 2006). In order to stop opium from flooding China, a Chinese officer, Lin Zexu, appointed in

Eriksons Theories Personal Portrait Essay Example for Free

Eriksons Theories Personal Portrait Essay Erik Erikson’s and Lawrence Kohlberg developed several different theories that demonstrated each phase of our lives. Their theories demonstrated how each stage developed and how the stages help to make us who we are today. We develop, learn, and revolutionize through developmental and moral developments. This paper will illustrate how each developmental and moral development represents each stage of life. Erik Erikson’s stages of developmental theory consist of eight stages of development versus Lawrence Kohlberg’s six stages of moral developmental theory. Both of these theorists beliefs were different when it came to the breakdown of each stage. Erikson’s infant stage which consisted of trust vs. mistrust which is â€Å"the need for maximum comfort with minimal uncertainty to trust himself/herself, others, and the environment( Patient Teaching, 1990).† This is a stage that I cannot relate to because I do not have any memories from infancy. Kohlberg’s first stage is â€Å"obedience and punishment† which relates that a â€Å"child assumes that powerful authorities hand down a fixed set of rules which he or she must unquestioningly obey (Kohlberg, 1958b). For example, your principle in your elementary school down to your teacher is an authority figure. I relate to Kohlberg’s stage because I can remember growing up and knew that my parents, teachers, and principles were my authority figures. I knew that I must obey them and if I did not that it would result in severe punishments and sometimes multiple punishments from each individual. Being a female, a felt that I feared authority figures more than my brothers or other boys in my class. Second stage of Erickson’s was the â€Å"toddler† stage â€Å"autonomy vs shame and doubt-works to master physical environment while maintaining self esteem â€Å"The second stage occurs between 18 months and 3 years. At this point, the child has an opportunity to build self-esteem and autonomy as he or she learns new skills and right from wrong. The well-cared for child is sure of himself, carrying him or herself with pride rather than shame. During this time of the â€Å"terrible twos†, defiance, temper tantrums, and stubbornness can also appear. Children tend to be vulnerable during this stage, sometimes feeling shame and low self-esteem during an inability to learn certain skills (Erikson, 1968).† Kolberg’s second stage â€Å"Individualism and Exchange† â€Å"At this stage children recognize that there is not just one right view that is handed down by the authorities. Different individuals have different viewpoints (Kohlberg, 1963, p. 24).† Both Erikson’s and Kohlberg’s theory can be a demonstrated at an early childhood stage. One learned that they were an individual and that one had to respect authority figures. I can remember a time that I was in preschool and I was asked why I took another child’s crayon. I remember stating to the teacher that I wanted my crayons to remain new. I was already developing a sense of being selfish and using others. That was not the route to take which was expressed to me by both my teacher and my parents. The third stage is â€Å"Initiative vs. Guilt† which demonstrates â€Å"purpose† â€Å"During this period we experience a desire to copy the adults around us and take initiative in creating play situations. We make up stories with Barbie’s and Ken’s, toy phones and miniature cars, playing out roles in a trial universe, experimenting with the blueprint for what we believe it means to be an adult. We also begin to use that wonderful word for exploring the world—†WHY?†(Erikson, 1968)† Whereas Kolhberg’s stage result in â€Å"good interpersonal relationships† At this stage childrenwho are by now usually entering their teenssee morality as more than simple deals. They believe that people should live up to the expectations of the family and community and behave in good ways. Good behavior means having good motives and interpersonal feelings such as love, empathy, trust, and concern for others. Heinz, they typically argue, was right to steal the drug because He was a good man for wanting to save her, and His intentions were good, that of saving the life of someone he loves. Even if Heinz doesnt love his wife, these subjects often say, he should steal the drug because I dont think any husband should sit back and watch his wife die (Gibbs et al., 1983, pp. 36-42; Kohlberg, 1958b). These two stages are somewhat different in comparison. Erikson’s theory is basically demonstrates how a child mimics what he or she see by using inanimate objects. I believed every little girl played house with Barbie and little boys played cowboys and Indians. I loved to play in my doll house at the age of 4 and older. I also was starting to demonstrate what was right or wrong. Erikson’s fourth stage â€Å"School-Age Child (Competence) – Industry vs. Inferiority† â€Å"the Latency, we are capable of learning, creating and accomplishing numerous new skills and knowledge, thus developing a sense of industry (Erikson, 1968).† Kohlberg fourth stage is â€Å"Maintaining the Social Order reasoning works best in two-person relationships with family members or close friends, where one can make a real effort to get to know the others feelings and needs and try to help (Crain, 1985, p 124).† These two stages exemplify several social skills. There are alike in detail. The age range from 6 to 12 is a very adequate age. I can recall being in the 4th and 5th grade and starting to have friends. I was a cheerleader and was learning that you have to be social in order to develop friendships. I was also taught by parents that little boys teased and picked on me because they liked you. I did not understand this but as I got older I slowly started to understand the concept of relationships. Next, the fifth stage of Erikson is â€Å"Identity vs. Role Confusion – Fidelity† â€Å". At this point, development now depends primarily upon what a person does. An adolescent must struggle to discover and find his or her own identity, while negotiating and struggling with social interactions and â€Å"fitting in†, and developing a sense of morality and right from wrong (Erikson, 1968)† Thus, Kohlberg’s fifth stage is â€Å"social contract and individual rights respondents basically believe that a good society is best conceived as a social contract into which people freely enter to work toward the benefit of all. They recognize that different social groups within a society will have different values, but they believe that all rational people would agree on two points. First they would all want certain basic rights, such as liberty and life, to be protected (Crain, 1985, p.125).† I feel that both of these stages are very similar. We want society to help us while giving back to society. It shows a sense of being part of something big. For example, I like the fact that I am able to vote. I believe that voting is a huge part of being part of society. It is important to know and feel that importance. The sixth stage of Erikson is â€Å"Intimacy and Solidarity vs. Isolation – Love† â€Å"the age is from 18-35, at the young adult stage, people tend to seek companions hip and love. Some also begin to â€Å"settle down† and start families, although seems to have been pushed back farther in recent years (Erikson, 1968).† Final stage of Kolhberg is â€Å"universal principles which believes that there must be a higher stagestage 6which defines the principles by which we achieve justice (Crain, 1985, p132).† These two stages are very different. Erikson is speaking about finding love which is considered your soul mate. Ages 18 through 35 is the common age that people start settling down and having children. I was 21 when I gave birth to my daughter. I tried to stay with her father which was 7 years older than me. He had not matured and did not want to step up to his responsibilities, even though he was much older than me. Kohlberg felt that stage 6 which resulted in the final decision of respecting each other’s beliefs. I find myself using an open mind and not judging anyone for their differences. I can relate to both of these stages. Erikson’s last two stages are â€Å"Middle-aged Adult: age ranges from 35 to 55 or 65 and the stage is Generativity vs. Self absorption or Stagnation which is defined as Care â€Å"Career and work are the most important things at this stage, along with family. Middle adulthood is also the time when people can take on greater responsibilities and control (Erikson, 1968).† Next, â€Å"Late Adult: age ranges from 55 or 65 to Death and the stage Integrity vs. Despair defined as wisdom As older adults, some can look back with a feeling of integrity — that is, contentment and fulfillment, having led a meaningful life and valuable contribution to society. Others may have a sense of despair during this stage, reflecting upon their experiences and failures( Erikson, 1968).† I am not at either stage of my life. I am very close to middle age. I actually consider myself to be a middle aged adult now. I am focused on furthering my career and supporting my family. I feel that this stage should be very important to both males and females. I have learned from working in the criminal justice field that this stage is not very important to males in society. There are more men in prison and jail than there are females. These men do not put the proper priorities in order to stay stable and have legitimate career. I am destine to reach far beyond 65 and live my life prosperous. In Closing, these two theorists had the same theories in mind. They described each stage of development differently. There concepts both compared and contrast with each other’s stages. I related to both theorists. I consider my life as a mirror of both Erikson’s and Kohlberg’s stages. Their phases exemplify positive and refined steps of everyone’s life. References Crain, W.C. (1985). Theories of Development. Prentice-Hall. pp. 118-136. Erikson, E. H. (1968). Identity: Youth and crisis. New York: Norton.

Strategies for Finding New Equity Capital

Strategies for Finding New Equity Capital Financial Management ABC plc has grown from a company with  £10,000 turnover to one with a  £17m turnover and  £1.8m profit in the last five years. The existing owners have put all their financial resources into the firm to enable it to grow. The directors wish to take advantage of a very exciting market opportunity but would need to find  £20m of new equity capital as the balance sheet is already over-geared (i.e. has high debt). The options being discussed, in a rather uniformed way, are flotation on the Main Market of the London Stock Exchange, a flotation on the Alternative Investment Market and private equity. Write a report to enlighten the board on the merits and disadvantages of each of these three possibilities. Answer: Option 1 Floatation on the main market of LSE. Floating money from LSE will lead to listing of shares of the company. Demerits of listing shares on stock exchange will lead to increase in legal compliances, which will also increase the cost of the company. As the company has grown drastically during the past 5 years, it will be easy for raising money from market which will form part of merits of floating money from LSE. Risks will be shared and a new debt will not appear in balance sheet of the Company. On the other hand raising funds through stock market would lead to loss of ownership and control over the company. Option 2 Private Equity Private equity is raising money from handful of investors. Merits of raising funds through private equity are large amount of funds can be raised , the investors also be a part of management due to which the business is monitored closely by a third party, huge returns can be obtained from private equity investments. Some of the demerits of private equity are loss of management control and dilution of ownership in the Company. Option 3 Alternative Investment Market is getting investment form alternate sources. (Andrew Killick Head of Corporate Finance (South Region) Baker Tilly) Merits The regulations for raising money from Alternative Investment Market are lighter hence it saves the corporate expense. The paying of merger and acquisition is easier. Demerits There is loss of control as the institutions (investors) own large share in the company. Floatation puts the company in the spotlight and under scrutiny, and this continues throughout a public companys life which reduces the privacy. The company has to report results to a tighter timetable and to International Financial Reporting Standards. Management Accounting Management accounting team also come up with some questions and request you to explain/answer them for upcoming board meeting: What is the point of distinguishing between absorption and marginal costing? Why they report different profit, explain with an example? Answer: Example : Variable cost of a product x 10 p.u, fixed cost for the period 100000, Number of units produced 10000, closing stock 1000 units, material cost 15 p.u Value of closing stock under both methods- Marginal costing Closing stock = (Material cost+Variable cost) * Number of Units   = (15+10)*1000 = 25000 Absorption Costing Closing stock = Total cost throughout the year/ total units produced * closing stock = 100000 (fixed cost)+ 100000 (variable cost) + 150000 (material cost)/ 10000*1000 =350000/10000*1000 =35000 The management of XYZ company is concerned about the its inability to obtain enough fully trained labour to enable it to meet its present budget projection: Service A B C Total Variable costs Materials 8 6 7 21 Labour 11 8 14 33 Expenses 5 4 4 13 Allocated fixed cost 6 15 12 33 Total cost 30 33 37 82 Profit 17 4 4 25 Sales revenue 47 37 41 107 The amount of labour likely to be available amounts to  £23,000. All of the variable labour is paid at the same hourly rate. You are asked to prepare a statement of plans, ensuring that at least 50 per cent of the budgeted sales revenues are achieved for each service and the balance of labour is used to produce the greater profit. What steps could the business take in an attempt to improve profitability, in the light of the labour shortage?ANSWER To improve the profit in the light of labour, company should B is the most profited company as it has the maximum profit per unit labour. The second preference should be given to company A as it provides better profit per unit labour then company C. And company C is the last option with least profit per unit labour. MM plc makes Product E, the standard costs of which are: Sales Revenue  £40 Direct labour (1 hour) (13) Direct materials (1 kg) (12) Fixed overheads (5) Standard profit 10 The budgeted output for March was 1,000 units of Product E; the actual output was 1,100 units, which was sold for  £44,400. There were no inventories at the start or end of March. The actual production costs were: Direct labour (1,075 hours) £14,513 Direct Materials (1,170 kg)13,455 Fixed overheads 5,700 How flexible budget will help this company to identify the budget variance? ANSWER Flexible Budget Flexible budget calculates expenditure levels for variable costs. Depending upon the actual revenue different variable cost are considered. Flexible budget results in varying budget depending upon the activities performed. In this case the actual revenue of the company has exceeded the budgeted revenue. The factors affecting the actual revenue and budgeted revenue are Sales, Material, Fixed Overhead, Profit, Labour. So the difference between the actual and budgeted revenue can be easily calculated using Flexible budgeting. REFERENCES Andrew Killick Head of Corporate Finance (South Region) Baker Tilly)

Why Educate? :: Essays Papers

Why Educate? As I ponder what my educational philosophy is, and what I hope it will become, I find it necessary to consider why we educate our children in the first place, and why we finance countless public school systems with local tax dollars and federal funds only to hear over and over that schools are failing, our teachers are inadequate, and our students unprepared for life. The majority of high school graduates can read. They can perform basic arithmetic. They know some literature, history, and civics. They are more computer literate than ever before, yet the U.S. Department of Education's National Commission on Excellence in Education concludes in â€Å"A Nation at Risk:† If an unfriendly power had attempted to impose on America the mediocre educational performance that exists today, we might well have viewed it as an act of war. As it stands, we have allowed this to happen to ourselves. We have even squandered the gains in achievement made in the wake of the Sputnik challenge. Moreover, we have dismantled essential support systems which helped make those gains possible. We have, in effect, been committing an act of unthinking, unilateral educational disarmament" (NCREL 2002). This â€Å"educational disarmament† is really a failure to produce students that are truly competitive in the world marketplace, a failure to make the same technological advances as other industrialized nations. Joel Spring, in The American School (1997), asserts that beginning with the founding of the common school in the nineteenth century, education has been seen as a way of â€Å"ending poverty, providing equality of opportunity, [and] an increasing national wealth† (6). It is the â€Å"increasing national wealth† that students are tested on now, and found lacking. According to Sebastian de Assis, author of Teachers of the World, Unite! (2000), it was during the Industrial Revolution that â€Å"mathematics, sciences, technical and vocational education became pivotal to the sustenance of the new economic order† in the United States (p. 24). Students have become just another part of the great machinery that is America. Either they contribute and m ake the country, and themselves, richer, or they are failures, who have, in turn, been failed by an educational system that did not teach them how to grow rich or help the nation grow rich. Like de Assis (2000), I find the commoditization of students to be more than a little disturbing.

Slavery :: Slavery Essays

  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Justify Slavery   Ã‚  Ã‚  Ã‚  Ã‚  Reparations are intended to make up for the unjustified actions of the past. By doing so, it punishes the people of today to make up for the actions from the people in the past. Should a person in today’s generation suffer for the actions of our ancestors? Should one collect special benefits for the suffering of their ancestors? By offering special benefits, would it solve or make up for the injustice of slavery? African Americans did suffer in the past from the injustice of slavery. Take in mind that it was the past, and the injustice of slavery does not affect African Americans in today’s day and time. White Americans in today’s day and time did not own or have anything to do with slavery. If one was to be punished or receive special benefits it should be the people that slavery directly affected.   Ã‚  Ã‚  Ã‚  Ã‚  In the history of the United States the American Indians were slaughtered, and are still collecting for the injustice actions of the past. America is still providing help, and handing out special benefits. American Indians receive special benefits such as land being put aside called reservations, allowed to put up casinos, and are able to receive scholarship funds for college with fewer qualifications. The experience that the American Indians went through was a lot worse than the experience that the African Americans faced. In both cases I believe that the people of today should not have to feel guilty for the actions of their ancestors.   Ã‚  Ã‚  Ã‚  Ã‚  If the Unites States developed reparations program for the injustice of slavery of African Americans it would create no good but only conflict. Two wrongs do not make a right. Punishing the people of today for the actions of the past creates reverse racism. It’s simply stating that because one is African American that he or she deserves special benefits. It forms racism towards other races. It is saying that just because one is not African American that they do not deserve to receive special treatment, and that they are not as good as African Americans. African Americans today were never slaves, nor were white Americans today slave owners. African Americans have recovered from slavery, and do not need any extra help. It is more satisfying to accomplish something on ones own.

Theories of Pyramid creation

The Egyptian pyramid construction theories range from simply outlandish to impossible. Almost all Archaeologist and some engineers take a stab at a theory sometime during their career. None have been proven and all are simply an educated guess. No one knows how the pyramids could have been built without today's heavy machinery. It seems Impossible for any group of men to move a 2. 5 ton block from the quarry to the construction site and then manage to lift Into the alarm to stack It precisely on top of each other without machinery and surveying tools. Doesn't It?In order to understand the size and magnitude of these pyramids, for example, the great pyramid of Gaza. This pyramid stood over oft tall and was the largest recorded structure in the world for over 3,800 years. It was made from roughly 2 be a mystery without modern day tools. Whoever built the pyramids employed a technology that far surpasses modern technology In most cases. Some say that present day engineers and architects are at such a complete loss as to how they were built and most admit they remain one of the most complex, sophisticated and receives built structures on earth.Some say that a select group of architects and engineers are at such a loss that they have turned to alien technology as the only possible answer. Theory; aliens built the pyramids, not man. People that believe this theory often base it on the fact that Egyptians had no knowledge of math or geometry and the fact that the pyramids align precisely with the constellation Orient's Belt. â€Å"Gaza consists of two almost equally tall pyramids and a smaller one which is only 53% of the height of the other two. The belt of Orion consists of two almost animally bright stars, and one with only 50% of the brightness of the other two.The smallest pyramid is the one which deviates from the diagonal, as does the dimmest star. † (Mohammad, 2013) It is also impossible to explain how the pyramid of Gaza is aligned perfectly with the m agnetic north pole since they had no use of a compass, especially since it had not even been vented yet. How can anyone explain how they moved such massive blocks of stone without the wheel, it also had not been vented yet. These all are interesting facts that say something out of this world helped theEgyptians build the pyramids, but the most astonishing one was when a reputable Egyptian Archeologist, Dry Ala Shaken told an audience that there might be some truth to the theory that aliens were involved in the construction of the great pyramids of Gaza. In a statement during an interview Dry. Shaken replied to a question from Mr.. Mark Novak that implied that there may be OF technology within Its structure with the following statement â€Å"l cannot confirm or deny this, but there Is something Inside the pyramid that Is â€Å"not of this world. † Dry. Shaken has failed to elaborate on is comment which leaves all of guessing. Michael Cohen, 2010) There are two theories close In similarity that most modern scholars believe to be possible, the external ramp theory and the Internal ramp theory. The first theory, the external ramp theory, Is based on the men pulling the large stone up a ramp that would Increase In height as the pyramid did. â€Å"Historians speculate that the stones were dragged up inclined ramps made of compacted rubble bonded and made slippery theory is it is believed to be impossible for the men to pull the stones up a ramp rater than 8% grade, this would mean the ramp would have to be over a mile long.There is not room, and there is not such a ramp on the Gaza plateau. Because the single straight ramp theory Just doesn't work many have opted for an optional ramp theory. The internal ramp theory combines both theories. It is believed that the bottom third of the pyramid had a single straight ramp that the blocks were dragged up. The internal ramp theory is based on the fact that the incline would never exceed 7%. This would be accomplis hed by building a ramp that wrapped the inside of the Truckee, similar to a spiral staircase.By using this method the blocks were pulled up the bottom 1/3 straight external ramp, they were then pulled inside and pulled up an internal ramp. It is believed that the reason there is not an external ramp in existence today is because it was categorized by using its blocks to create the top the 2/3 of the structure. This theory seems to be the best possible solution on how the pyramids were built, but it still doesn't explain how it was done with such precision and accuracy, which many believe will always remain a mystery.