Moral values Essay

It would be gross injustice to categorize all children and youths as lacking in manners and morals, but the general trend would certainly suggest there has been a major decline among many of them. Family values have changed dramatically in the past few decades, producing a crop of undisciplined teenagers and children who lack morals and manners as a result of poor training. Good manners were once the norm with young people very much aware the older generation. Saying â€Å"please† and â€Å"thank you†, giving up a seat on the bus and holding open doors were all considered normal mannerly behavior. Times have changed and we now live in a predominantly me-first society which is reflected in many young people. If good manners are taught at an early age, they will generally continue to be part of the personality of the young child all the way into adulthood. The lack of good manners observed in society in general is no doubt a reflection of the situation found within the home. Without parental example and training the area of manners, it is likely the children will sadly lack in displaying them. The same can be said of the lack of morals we find in many of today’s youth. A large proportion of children have grown up with little or no respect for authority, for property, for family or even themselves. Living a life of immorality is considered normal behavior today and has produced a bumper crop of young people with venereal disease, unwanted pregnancies and a feeling of emptiness in their lives. Lacking in moral stability, we find young people involved in crime, violence and drug abuse. The so-called freedom they have has actually brought them into slavery to an amoral lifestyle. There is a contrast though in many children and teenagers who are moral and do have good manners, proving that it is still possible to develop these delightful characteristics. It is a real pleasure to come across young people who are mannerly and who have the courage to lead a moral life, not.

Ben and Jerry’s Case Study

This case study comes from the second edition of Business Strategy: an introduction published in 2001. It is very readable and interesting, providing students with insights into how two entrepreneurs who set up an ice cream shop in a renovated petrol station became the names behind one of the most well-known ice cream brands around the globe. Students will find out how Ben and Jerry tackled the almighty (at the time) Pillsbury and Hà ¤agen-Dazs, how they developed a brand to distinguish them from competitors which included a focus on people and giving back to society, and how they successfully used PR to come up trumps in the ‘ice cream war’.At the end of the case study you will find a series of questions for students to get them thinking critically about Ben & Jerry’s strategy from its humble beginnings to where it is now. The case also provides the opportunity for students to conduct research into the current state of play. They could find out how Ben & Jerryâ €™s have further developed their brand and product offerings (they now have ice cream counters in cinemas, they offer a full selection of Fair Trade ice creams, etc. ) and what competition they now face, if any.Students will find it helpful to read chapter 20 on social responsibililty and business ethics. They could also use this longer case study as a springboard for their work on the Strategic Planning Software (SPS), to which they have free access with purchase of the textbook. The beginning Ben Cohen and Jerry Greenfield became friends at school in the late 1960s in Burlington, Vermont in the North Eastern United States. Their reputation as the two ‘odd' eccentrics at school led them to form a strong friendship that would last for many decades.When they left school, both Ben and Jerry became ‘hippies' – social drop-outs who lived an alternative and unconventional lifestyle. They both grew their hair and a beard and together with their dog, Malcolm, they mo ved in together as flatmates. One of the interests they shared was in food and as they discussed various ways of making a living, they concluded that the two most exciting areas of fast food at the time were bagels and ice cream. Having established that the equipment needed to bake bagels would cost $40,000, the two men enrolled on an ice cream making correspondence course for the cost of $5 each.In 1978, having developed some basic ice cream recipes, Ben and Jerry set up a shop in a renovated petrol station in Burlington with a capital investment of $12,000 ($4,000 of which was borrowed). From the outset, Ben and Jerry wanted to produce a premium product and the fact that it was made from ‘fresh Vermont milk and cream' was stressed. The outlet was called ‘Ben & Jerry's Homemade ice cream' and to give the shop a unique and welcoming character, they employed a piano player to play blues in the background. Initially, the shop was a success amongst Burlington locals, many o f whom had known the men when they were growing up.The staff that Ben and Jerry employed were encouraged to take the same ‘hippiesh' view of business activity as the owners (‘every day was a party'), but the major competitive advantage arose from the uniqueness of the product. Whereas the majority of ice cream products were traditionally-flavoured, Ben and Jerry introduced unusual flavours with ‘chunks' to make the textures more interesting, such as fruit, chocolate, nuts, toffee and similar sweets. ‘Chunky' ice cream became the prominent feature of the new organisation's image. During the summer of 1978, customer numbers grew as the reputation of the shop and the ice cream grew.It was when the winter set in at the end of the year that the troubles began. Over the counter ice cream sales dried up and Ben and Jerry realised they would have to find other outlets for their products if they were to avoid bankruptcy. They persuaded a number of local grocers in Ver mont to stock the product in one pint tubs, but it soon transpired that a broader customer base would be needed. Having approached a number of national supermarket chains, Ben Cohen learned that the size of the business, not to mention his appearance and attitude to business, made the buyers reluctant to take stock from him.He was advised that he ought to seek to sell the ice cream to large independent ice cream distributors in neighbouring states who would then sell the product on to the major retail multiples. It was then that Ben and Jerry encountered a problem. The Pillsbury confrontation Ben approached the Dari-Farms corporation with a view to have it distribute Ben & Jerry's ice cream throughout the New England states. Dennis Silva, the company vice-president, agreed to take some Ben & Jerry's stock despite Ben's unconventional approach to business.In order to increase distribution further, Ben also approached Paul's Distributors where its chairman, Chuck Green, also agreed to act as a Ben & Jerry distributor. The market leader in the super-premium ice cream segment at the time was Hà ¤agen Dazs, which was then owned by the large US based Pillsbury Corporation. Pillsbury turned over $4 billion a year and had extensive food interests in addition to Hà ¤agen-Dazs including Green Giant (vegetables) and Burger King, the fast food outlet. Kevin Hurley, president of the Hà ¤agen Dazs subsidiary of Pillsbury, was the son-in-law of the company's founder, Reuben Matthus.Matthus had started Hà ¤agen-Dazs in 1959 in New York. He came up with the Danish-sounding name in the belief that it conjured up a feeling in the consumer of an exotic European brand. By 1984 when the confrontation with Ben & Jerry's took place, Hà ¤agen-Dazs held a 70% share of the super-premium ice cream market. When Hurley discovered that both Dari-Farms and Paul's were distributing Ben & Jerry's as well as Hà ¤agen-Dazs, he rang both Dennis Silva and Chuck Green. Although Ben & Jerry's still had only a tiny share of the market compared to Hà ¤agen-Dazs, Hurley was determined that the distributors he used were not going to help a competitor.â€Å"We didn't say to the distributor ‘You can't carry Ben & Jerry's. We asked them to make a choice'† said Hurley. â€Å"We just told them [Silva and Green] that they couldn't sell Ben & Jerry's and Hà ¤agen-Dazs. † This ‘it's us or them' ultimatum took the two distributors by surprise and it presented a distressing dilemma. â€Å"We were just stunned at this comment coming from Hà ¤agen-Dazs, this huge company where we were selling trailer loads of ice cream, versus this minuscule amount of Ben & Jerry's we were selling† said Chuck Green of Paul's Distribution. â€Å"They had drawn this line in the sand saying that we had to make a decision.†When Ben and Jerry heard of Hurley's threat, they arranged a meeting with the distributors to discuss the situation. In view of the potential of Ben & Jerry's, neither distributor wanted to stop taking their products, but at the same time, the thought of having Hà ¤agen-Dazs withdraw their supply could prove very damaging indeed. The three parties agreed that they would need legal representation if they were to take on the might of Pillsbury and they chose Howie Fuguet, a business lawyer who had spent his professional life defending large organisations. Like Ben and Jerry, Howie was an eccentric.He was said to have cared little for his appearance and had holes in his shoes. He agreed that Pillsbury had behaved in a curious way and sent off a letter to them setting out the nature of Ben & Jerry's grievance. Protesting that Hurley had acted unfairly, Howie wrote to the Board of Pillsbury. â€Å"It would be wishful thinking on the part of your subsidiary's officers [Hà ¤agen-Dazs] to imagine that it can bully Ben & Jerry's, stifle its growth and cause it to roll over† wrote Howie. â€Å"Ben & Jerry's represents a cla ssic entrepreneurial success story and its owners are aggressive.Hà ¤agen-Dazs will have to learn to compete on their merits in the market place. That is the American way and that is what competition is all about. † Notwithstanding the apparent ‘correctness' of Ben & Jerry's case, the legal odds were clearly stacked against them. If they couldn't beat the ‘bullying' Hà ¤agen-Dazs through normal legal channels, then another weapon would be needed. The ‘dough boy' campaign The key move was to make Pillsbury the target of the campaign and not Hà ¤agen-Dazs; Pillsbury was bigger and had more to lose. Since the mid 1960s, the symbol of Pillsbury was the Pillsbury ‘dough boy'.The dough boy was used by Pillsbury in its advertising and other corporate communications and was a valuable symbol of the company's identity. So as to avoid the appearance of an ‘ice cream war’ between two competitors, Howie proposed that they attacked the Pillsbury comp any by specifically targeting the dough boy. Accordingly, the What's the dough boy afraid of? campaign was launched, intentionally designed to appear as a ‘David versus Goliath' conflict where a small company (Ben & Jerry's) had been unfairly treated by a large ‘bully' in the shape of Pillsbury.â€Å"We didn't really know a thing about PR. We were just trying to survive† said Ben Cohen. â€Å"If we were going to go down, we wanted to let as many people as we could know what was going on. [We wanted to say that] the reason why you can't find Ben and Jerry's on the shelf is because this big corporation [Pillsbury] is trying to prevent you, the consumer, from having a choice about what kind of ice cream you want to buy. † The campaign included T-shirts, bumper stickers, bill posters and other media which all bore the statement â€Å"What's the dough boy afraid of? â€Å".Jerry launched a one-man campaign outside the Pillsbury headquarters in Minneapolis, Min nesota and it wasn't long before the local television news programmes started carrying the story on a regular basis. This made the public sympathise with Ben & Jerry's, but also provided a lot of free publicity for the company and its products. From its 17-strong legal department, Pillsbury assigned Richard Wegener to ‘get rid of' the ‘Ben & Jerry problem'. Wegener quickly realised the size of the task facing Pillsbury. â€Å"The publicity became bigger than the dispute itself† said Wegener.The reputation of Pillsbury was at stake and Wegener sought to bring a rapid end to the controversy. Realising that the campaign had grabbed the public's attention and the sympathies were predominantly with Ben & Jerry's, Wegener advised Hurley to back down. Kevin Hurley was persuaded to sign an out-of-court settlement agreeing not to coerce any distributors. The campaign was over and Ben & Jerry's had won. The controversy not only ensured the defeat of Pillsbury, it also acted unwittingly as an enormous amount of publicity for the Ben & Jerry's brand.After the victory The success of Ben & Jerry's after the Pillsbury confrontation was marked. The distribution channels were widened still further until Ben & Jerry's ice cream was supplied through supermarkets, grocery stores, convenience stores, and food service operations, as well as through licensed ‘scoop shops’ (shops selling just their ice cream), franchised scoop shops, and company-owned scoop shops. By 1992, the company's turnover exceeded $130 million and it was on the verge of international development into the United Kingdom.In the super-premium ice cream sector, a number of new and distinctive product flavours were launched including ‘Milk chocolate ice cream and white fudge cows swirled with white chocolate ice cream and dark fudge cows,' ‘Chocolate comfort low fat ice cream,' ‘Mocha latte' and ‘Triple caramel chunk ice cream. ‘ In addition, non-ice cre am frozen desserts were introduced including a range of ice cream ‘novelties', frozen yoghurts and sorbets such as ‘Chunky Monkey frozen yoghurt – banana frozen yoghurt with fudge flakes and walnuts.'The Ben & Jerry's name and the company's reputation for quality meant that the new products became quickly adopted by the market. The personality of the founders helped to frame the company's culture and its mission. Two important statements were released which described the company's approach to its business. In 1988, the company stated that â€Å"We are dedicated to the creation and demonstration of a new corporate concept of linked prosperity. † This was articulated via its Philanthropy Statement and its Mission Statement.Ben & Jerry's Philanthropy Ben & Jerry's gives away 7. 5 percent of its pre-tax earnings in three ways: the Ben & Jerry's Foundation; employee Community action Teams at five Vermont sites; and through corporate grants made by the Director o f Social Mission Development. We support projects which are models for social change – projects which exhibit creative problem solving and hopefulness. The Foundation is managed by a nine member employee board and considers proposals relating to children and families, disadvantaged groups, and the environment.Mission Statement – Ben & Jerry's Ben & Jerry's is dedicated to the creation & demonstration of a new corporate concept of linked prosperity. Our mission consists of three interrelated parts: wTo make, distribute and sell the finest quality all-natural ice cream and related products in a wide variety of innovative flavors made from Vermont dairy products. wTo operate the Company on a sound financial basis of profitable growth, increasing value for our shareholders, and creating career opportunities and financial rewards for our employees.wTo operate the Company in a way that actively recognizes the central role that business plays in the structure of society by in itiating innovative ways to improve the quality of life of a broad community – local, national, and international. Underlying the mission of Ben & Jerry's is the determination to seek new and creative ways of addressing all three parts, while holding a deep respect for the individuals, inside & outside the company, and for the communities of which they are a part. Questions for students: 1.Identify the stakeholders that Ben & Jerry’s and Hà ¤agen-Dazs had in common at the time of the controversy. 2. Which of Donaldson and Preston’s view of stakeholders did Hà ¤agen-Dazs have at the time of the confrontation? Provide evidence from the case in your answer. 3. Which of Donaldson and Preston’s view of stakeholders did Ben & Jerry’s have in the case? Provide evidence from the case in your answer. 4. Comment upon the ethical behaviour of the two ‘sides’ of the Pillsbury dough boy campaign. Which side, if either, was right?

Cases in Digital Innovation and Transformation

This paper focuses on the research on the impact that perception has on customer satisfaction when it comes to consumption of goods and services. Research on the impact that perception has on customer satisfaction is identified and customer personas are made from the data collected. Customer journey maps are also generated using the data on customer research on the subject. The paper contains a research on Industrial and Commercial Bank of China. General market research is carried out the banks operations to help understand the operations of the company and the financial services industry in China (Oswald& Kleinemeier, 2017). The information on customer behavior and the impact that perception has on customer satisfaction levels in this industry is determined and explained. Industrial and Commercial Bank of China (ICBC) is a Chinese Multinational banking company and it is the largest bank in world by Total assets. ICBC is also the most valuable bank in the world by market capitalization since February 2017. The company was formed in the year 1984 by the year 2015,it had assets worth US$3.616trilion (Solis, 2015). ICBC opened its first branch outside China in the year 1999 in Luxembourg. It later became the European headquarters of the bank in the year 2011. The company was made public in the year 2006 and it became the largest IPO at the time valued at US$21.9 billion. As at the year 2015,ICBC had approximately 3.5 million corporate customers and more than 170 million individual customers. The company serves corporate clients from across all sectors and industry including manufacturing, transportation, power, gas and water as well as construction industry. The biggest customer is the manufacturing industry followed by transportation, storage, and teleco mmunications industry. China`s banking system underwent significant changes between 1990s and 2000s. The banking system of China has become more like the banking system in the West. Before the 1990s banking in China was run exclusively by the state (Pijl, Lokitz& Solomon, 2016). Over the previous two decades, the narrative has significantly changed since more private banks are emerging and more of the public owned banks have become autonomous. Financial and banking services in China are regulated by the People’s Bank of China. The four biggest banks in China commonly referred to as the â€Å"Big four† are state owned and this shows that the banking industry in China is still largely controlled by the state. The four biggest state owned commercial banks include the China Construction Bank (CCB), Bank of China (BOC),The Agricultural Bank of China(ABC) and the ICBC (Kalbach,2016). The banks were formed through the introduction of commercial Bank Law in 1995 which helped in commercializing operat ions of state owned bank. BOC specializes in foreign exchange transactions and trade finance. The CCB specializes in medium and long term specialized projects such as infrastructure an housing projects. ABC specializes in offering financing to the agricultural sector in China as well as offering wholesale and retail banking services to farmers. The policy banks in China banking and finance industry include the Agricultural Development Bank of China (ADBC), China Development Bank(CDB) and the Export-Import Bank of China (Chexim) (Diamond,2016). There are also various city commercial banks that are majorly owned by the local governments. Private investors also have a minority shareholding in these banks. The other significant players in China`s banking system is the Trust and Investment Corporations, County Banks, Credit and Deposit Insurance companies. Creating customer personas is very important for a company since it helps the organization offer tailor made services that help to improve the levels of customer satisfaction. The use of personas in business has increased in the recent past since organizations are facing growing demand for more personalized and tailor made services. Customers expect organizations to understand their tastes and preferences better and serve to meet their needs as expected. The personas help the organizations in understanding how customers behave and why they behave in such a manner and this enables brands to make changes in their operations which help them to improve customer satisfaction. ICBC serves different segments of the banking sector globally (Kalbach, 2016). In order to develop customer personas in different industries, it is important to segment the market of ICBC based on the industry in which a corporate customer is operating. Customer persona for individual customers is based on the data o n the behavior of individual customers conducted through market research. A persona of a company operating in the manufacturing industry is created based on the available primary and secondary data on that company. 361 degrees is a major designer and manufacturer of shoes and sports products in China. The company was first established in the year 2002 and the brand name,361 degrees was launched in 2004. The brand name represents 360 degrees of a circle plus an extra one degree which represents the professional functionality on which innovation and creativity is added (Barnes & Kelleher, 2015). The characteristics of the company and its needs are analyzed to help ICBC understand its needs as a customer and hence improve customer satisfaction. 360 degrees may get services and products such as long term loans for expansion and investment, short term capital, cash deposit services. ICBC can also offer corporate mobile banking, corporate telephone banking, and corporate internet services (Wright & Snook, 2017). Given that 360 degree has outlets in many countries across Asia and Europe, Internet banking services for the company can be tailor made to help customers from different countries pay for goods using a common paying method which is simple and convenient. 360 degree also needs corporate wealth management services. A company operating in different countries and especially through outlets that are not owned by the company needs to manage its wealth effectively and efficiently. ICBC can manage the manufacturing plants of 360 degrees to help cater   ICBC should create a spe cial profile for the company to help cater for all the corporate banking needs of 360 degrees which is a manufacturing company. ICBC can also receive deposits on behalf of 360 degrees (Information Resources Management Association. 2018). The deposits can be in form of payments made by different clients or the sale of assets. l   He has been in restaurant business for the last 9 years l   Location of business is Shanghai l   He needs short term business loan to expand his business l   The interest rates charged on loans l   The customer does not want high interest rates on loans l   The customer deposits cash regularly l   Most of the transactions by the customer are online l   He takes huge risks in his business l   He has a variety of personal investments Customer preferences and personality l Likes tailor made banking and finance products l Uses mobile banking a for most of his transactions l Makes regular transactions involving deposits and withdrawals l   Internet banking products that offers customer convenience l   Wide range of personalized banking services l   Loan terms depending on the customer history with the company. The Chinese banking industry is very competitive. One of the major competitors of ICBC is the Bank of China limited. The bank is also government owned and it offers the same products as ICBC. One of the metrics that is used to compare the two banks is the customer support services. ICBC has better customer support because it has online customer support system where the customers can be able to interact with the company and problems that they face are addressed (Cardoso, Fromm, Nickel, Satzger, Studer& Weinhardt, 2015). The other metric is the problem resolution time. ICBC takes less time to solve problems that customers present to the company. This is because the company has an elaborate online automatic customer support system. ICBC also has a large number of staff working in the customer care department. Comparison with China construction Bank Limited; China Construction Bank Limited offers banking services mainly to the businesses in the construction industry. The customer support system of CCB is efficient and effective and it enables the company to become competitive and to offer specialized customer care services to different customers. This helps in improving the level of customer satisfaction. The time taken to solve customer problems is also a crucial determinant of customer satisfaction. Both competitors have focused on coming up with the right systems and programs to help improve customer satisfaction. This has been mainly by designing online customer self service websites where customers can be able to solve their problems without having to consult the company. Social media monitoring is one of the tools that can be used to monitor customer experience by ICBC. The company should establish social media accounts through which the company can get feedback regarding the experiences of customers when dealing with the company. Another tool is seeking for feedback directly from customers and avoid over-reliance on social media. Customers can be requested to fill feedback forms after they visit the bank or through the companies` website. Analysis of company information regarding customers is also an important tool for monitoring as well as the rinse and repeat technique. From the analysis of the results of the study, it is clear that ICBC offers its customers high quality products and services compared to its customers. This has promoted the companies` growth beyond China and ensured that ICBC becomes the largest company in the world in terms of assets. ICBC has relied on technological innovation to improve customer satisfaction which is at the core of the success of any company in the banking industry. ICBC offers corporate customers mobile and internet banking and it was one of the first companies to offer these product. ICBC has been able to focus on satisfying customers in the corporate world by making it easy for them to open accounts and obtain big loans at highly competitive interest rates. The paper also discusses the profiles of different categories of customers, both individual and corporate customers and draws journey maps for both. Cardoso, J., Fromm, H., Nickel, S., Satzger, G., Studer, R., & Weinhardt, C. (2015). Fundamentals Of Service Systems. https://Rave.Ohiolink.Edu/Ebooks/Ebc/9783319231952. Barnes, R. A., & Kelleher, B. (2015). Customer Experience For Dummies. Diamond, S. (2016). Content Marketing Strategies For Dummies. Information Resources Management Association. (2018). Mobile Commerce: Concepts, Methodologies, Tools, And Applications. Http://Search.Ebscohost.Com/Login.Aspx?Direct=True&Scope=Site&Db=Nlebk&Db=Nlabk&An=1540772. Kalbach, J. (2016). Mapping Experiences: a Guide To Creating Value Through Journeys, Blueprints And Diagrams. https://Search.Ebscohost.Com/Login.Aspx?Direct=True&Scope=Site&Db=Nlebk&Db=Nlabk&An=1234236. Nielsen, L. (2013). Personas -- User Focused Design. London, Springer. https://Www.Books24x7.Com/Marc.Asp?Bookid=54139. Pijl, P. V. D., Lokitz, J., & Solomon, L. K. (2016). Design a Better Business: New Tools, Skills, And Mindset For Strategy And I. John Wiley & Sons. Oswald, G., & Kleinemeier, M. (2017). Shaping The Digital Enterprise Trends And Use Cases In Digital Innovation And Transformation. Cham, Springer. Revella, A. (2015). Buyer Personas: How To Gain Insight Into Your Customer's Expectations, Align Your Marketing Strategies, And Win More Business. Solis, B. (2015). X: The Experience When Business Meets Design. Http://Dx.Doi.Org/10.1002/9781119172529. Wright, T., & Snook, C. J. (2017). Digital Sense: The Common Sense Approach To Effectively Blending Social Business Strategy, Marketing Technology, And Customer Experience.

Hange and the importance of adapting to a dynamic world Research Paper

Hange and the importance of adapting to a dynamic world - Research Paper Example He cites the example of the economic growth of â€Å"emerging markets† (612), such as China, India, Brazil, South Africa, and Russia to support his argument. An aspect of this new order is the shift in power from the nation state to non-state actors: NGOs, the private sector, cities and localities, and the media (617). Economic prosperity, and the dissemination of diverse national perspectives by the media, fosters nationalism and a new view of the world, independent of the Western vision. The Kyoto accord, and the increasing irrelevance of the UN, is proof of this (617). However, Zarkaria quotes statistics to show that the US still remains â€Å"the most competitive economy in the world† (619). Zarkaria believes that if America realistically faces the challenges of the new global order, discards its political complacency, and accepts the necessity â€Å"to allow other countries to become stakeholders in the new order† (621), it can deal successfully with the irr eversible trends of globalization. It must be admitted that Zarkaria’s worldview accurately reflects the contemporary political stage. In From The Young and the Digital, Craig Watkins draws attention to class divisions prevalent in social-networking sites. His main argument is that â€Å"The class divisions which shape American cultural life off-line are clearly discernible in the communities which form on-line† (Watkins, 2009, 506).... ins uses the examples of Facebook and MySpace to show that the social inequalities, class divisions, and racial discrimination, which characterize the physical world, are very much a part of the virtual world. Contrary to early belief in the internet being the great leveler of social inequalities, racial perceptions and biases are very much a part of social-network sites, forming a â€Å"digital divide† (506). Watkins uses the data from his study of such sites to support his argument. White college student’s preferences for Facebook â€Å"illuminate the sharp and powerful differences race and class make in the on-line communities young people participate in† (510). The negative attitude toward MySpace is not just about aesthetics and demographics, but has undercurrents of race, class and geography. Watkins concludes that this on-line division is but a reflection of the middle class wish â€Å"to maintain clear boundaries between themselves and the classes they v iew as less cultured† (511). The digital divide is an extension of real gated communities, and the attempt to preserve social privilege and status. Watkins’ evidence of the existence of the digital divide based on social inequalities makes for interesting reading, and makes the reader regret this unfortunate prevalence on the internet. Steven Johnson’s Why Games are Good for You attempts to persuade the reader that, contrary to popular perception, video games have beneficial effects on the player. Johnson admits the undisputed advantages of reading, and the cognitive benefits and mental exercise which books provide. He then goes on to argue that playing video games offers two advantages: â€Å"cognitive benefits - attention, memory, following thread, and so on,† and â€Å"different mental skills† (Johnson,

Managing Financial Principles and Techniques Coursework

Managing Financial Principles and Techniques - Coursework Example Management of the institution is also recommended to reduce the amount of cash and cash equivalent assets outstanding to avoid investing in projects with negative net present value, and avoid pushing management into empire building. In all, Autonomy Plc has a good performance in its liquidity, profitability, efficiency and Long term financial stability as on average it out performed the industry performance. These interpret a favourable signal to the company horizontal trend. To suppliers, the quick payment system operated by the company is unique to the industry as such; suppliers should strife at strengthening their relationship. For applicants, the company is a going concern; applicant should not hesitate to seek a career with the company Globalisation, the new information technology, and deregulation of financial markets have eased the provision and search of finance. Millions of shares are traded every day on the world's stock markets. (Penman, 2003). Investors who trade on these stocks are often forced to ask themselves whether they are buying or selling at the right price. (Artril & Elliot , 2003). Artrill & Elliot (2003) argue that, they often attempt to provide answers to these questions by turning to various media including internet chat rooms, printed press, "talking heads" on television and financial networks, who often voice opinions on what they feel the stock prices should be. In addition, investors consult investment analysts who provide an almost endless stream of information and recommendations to sort out. There are often claims that some shares are undervalued and vice versa. (Penman, 2003). This information at times becomes confusing leaving the investor with no clear indication of what the true prices of stocks should be. (Penman, 2003). In the prevailing circumstances, Brealey & Myers (2005) state that the investor is forced to make the investment decision following his/her instinct or based on the information provided by the market. (Penman, 2003). Investors who make the decision based on instinct are referred to as intuitive investors while those who make investment decisions based on capital market efficiency are referred to as passive investors. (Penman, 2003). Passive investors carry out their investment decisions based on the assumption that the market price is a fair price for the risk taken, that is, that market forces have driven the price to the appropriate point. (Brealey & Myers 2005). These investment mechanisms appear to be very simple, as they do not require much effort. (Penman, 2003: pp 3). However, Berlin & Lexa (2003) caution that, both investors run risks that are even more than the risks of the firms they are investing in since they can either pay too much or sell for less and as a result suffer a decrease in returns on their investments. (Penman, 2003). Penman (2003) argument was supported by Brealey and Myers (2005) when they stated that, the intuitive investor has the problem of the intuitive bridge builder: "one may be pleased

Travel report Essay Example | Topics and Well Written Essays - 750 words

Travel report - Essay Example Kilometers (Madeline 6). Summers are scorching and dry, and winters are trivial. Most of the rain falls during November-February. Temperatures rise to 30 C in midsummer, but the brisk breeze cools the air. The sunny and warm coastal are ideal for tourists. Most of the fruits, cotton, vegetables, tobacco and grain are grown on the coast (Madeline 7-8). Turkey’s population is about 65 million. Majority of the population is extremely young with 30 percent of the population under 15 years. 40 per cent of the citizens live in the state side though there have been a move to town in large numbers lately. Population density is premier on the business, industrial and tourist areas of the Aegean, Marmara and the Mediterranean regions and lowest on the rural areas of the southwest Turkey (Madeline 11). The first chief empire was built by Hittites which came to an end when Turkish people dominated Anatolia which saw the development and growth of the Ottoman Empire. During World War 1, the empire entered into alliance with Germany, and it was defeated and occupied. This transformed the politics of the country. It prompted the beginning of a nationalist movement which repelled the occupying armies and liberated the country. During World War II, it became a chartered member of United Nations. It political system is based on separation of powers among the Constitution, Executive and Parliament. The president is elected by the Grand National Assembly every seven years (Madeline 13-15). Turkey has a varied culture resulting from various elements of Ottoman Empire, European and Islamic traditions. Turkish culture has significantly changed from the religion driven Ottoman Empire to the modern nation state with an extremely stout separation amongst state and religion. Because of diverse historical features playing domineering role in defining Turkish Identity, it culture is an indispensable amalgamation of clear struggles to be modern and Western,

Write an analysis of 2000 words of one of the following Hong Kong Essay

Write an analysis of 2000 words of one of the following Hong Kong films - Essay Example Moreover the martial art of Kung Fu widely acclaimed in China is found to act as a common stunt piece for many Chinese, Japanese and Hollywood films. Further observation made suggests that the Chinese martial art form, Kung Fu has earned a figure statement. With Kung Fu mostly masculine bodies with high power muscles earning a spectacular vision is mostly tied to. Thus, the martial art of Kung Fu has been associated to a body genre accompanied by heavy sound effects like shrieks and thuds. To this extent, it is found that the Chinese martial arts films are the products of a culture mix. (Hunt, 2-3). The martial arts used in the Chinese film industry in the late 1960s emanated from the tactics used by the Samurai form of Japanese Martial Art. Research made suggests that in the earlier periods of Hong Kong film industry the Chinese form of martial art drew a fictional significance to that of the western action films. Moreover it was found that the Kung Fu form of Chinese martial art was blended with other cinematic instruments such as comedy, stunt and action filled antics. Even it is observed that film stars who were previously well known for their martial art skills now using less of martial art skills and focusing on showing stunts and antics. The level of stunts used in the Hong Kong action films owes their contribution to the effect of Chinese Opera on the fighting stars. However, it is recognized that still the fighting choreography has a close resemblance to the traditional martial arts form. The Kung Fu form of martial art finds its connection to the Southern part of the Chinese republic. Northern China was more concerned with the advent of sword fighting techniques used in action films. However, the use of Kung Fu in the Hong Kong action films has helped the cinemas earn a global repute in a short span of time. The Kung Fu films

Main Features of Linguistics Essay Example | Topics and Well Written Essays - 1000 words

Main Features of Linguistics - Essay Example The specific nature of the social and stylistic factors of the Trinidadian Creole which prove the "greatness in the written word" of Selvon is manifest in his short story "The Cricket Match." It is particularly notable that "the Creole that Selvon writes it is, in fact, a modified form of dialect that roughly approximates Trinidadian speech, but is not as precise a rendition as the Jamaican Creole... What makes Selvon's writing so distinctive is, therefore, his use of humor to undercut the seriousness of the issues that he is describing in his narrative." (Maceddo 2007). Therefore, it is worth mentioning that "The Cricket Match" has, as in his famous The Lonely Londoners, employed a similarly mild satirical technique and the gentle, ironic form of humor. In this paper, a close study of the passage from the short story is carried out in order to identify and classify the elements of language used which serves the purpose of linguistic analysis. In linguistics, stylistic analysis means the identification of patterns of usage in language whereas, from the literary point of view, it serves in making authoritative observations of the merit and meaning of the literary text. In a well-directed linguistic analysis of "The Cricket Match" on the basis of the underlying social and stylistic factors, it is notable that these linguistic variables have been masterfully implemented by the author to give the story an emphatic tone of his specific writing style. It is, therefore, significant to identify some of the most obvious stylistic features of the story as it will prove the actual worth of the literary text. The stereotyped expressions or the cliches that are cleverly used in the story may be particularly noted as they form part of the variety of the language that the author has chosen for his writing. Thus, we notice expressions like 'singing a calypso,' 'in truth and in fact,' 'take it from me,' ' authority in the factory on cricke t,' etc. to mention a few.  In this way, the writer convinces the readers the specific quality of his language style.

Contemporary Organisational Design Essay Example | Topics and Well Written Essays - 3500 words

Contemporary Organisational Design - Essay Example 2007). Overall, previous studies on organizational design serve as an important first step in understanding how organizational designs are used to manage internal control systems in multiple markets. For example, Rodriguez (2006) focuses on organizational culture change from a longitudinal perspective. In the study, the researcher examines how an organization (Brazilian Telecommunication Company) changed from a condition of integration to one of fragmentation and differentiation. Chakrabarti & Varman (2004), in their study of "Contradiction of Democracy in a workers Cooperative" postulate that, organizational democracy has become a key issue in current change management set-ups such as in situations of restructuring, total quality management and enterprise resource planning. According to the researchers, democracy faces significant odds even in those companies that have been expressly initiated for democratic functioning. To the researchers, organizational democracy is an evolving reality. Walton, (2005) draw inspirations from Weber's writing on bureaucracy. The researcher in his study uses meta-analytical techniques to estimates the general relationships amongst key aspects of bureaucratic control removing the effects of statiscal artefacts. The current focus on organizational design is on change within the context of an... To the researchers, organizational democracy is an evolving reality. Walton, (2005) draw inspirations from Weber's writing on bureaucracy. The researcher in his study uses meta-analytical techniques to estimates the general relationships amongst key aspects of bureaucratic control removing the effects of statiscal artefacts. The current focus on organizational design is on change within the context of an organization, and change within accounting as a subject. This paper attempt a critical analysis on three peer review selected articles published within the last five years in Science direct within the context of organisational design and change. We believe, after our critical review of these articles, there will be ample opportunity for future research to examine how firms use other aspects of organizational design and internal controls such as standardization, internal reporting. The articles we are focusing on in this review are:- 1. Rodrigues, B.S., (2006). The Political Dynamics of Organizational Culture in an Institutionalized Environment. Organization Studies 2006; 27; 537 originally published online Jan 9, 2006; DOI: 10.1177/0170840605059454 2. Chakrabarti, M. & Varman, R., (2004). Contradictions of Democracy in a Workers' Cooperative Organization Studies 2004; 25; 183 DOI: 10.1177/0170840604036913 3. Walton, J.E., (2005). The Persistence of Bureaucracy: A Meta-analysis of Weber's Model of Bureaucratic Control. DOI: 10.1177/0170840605051481 My review will be based on the following structure. Firstly, I will review the various articles in their general parts and point out the strong and weak sides of each. There after, I will look on

Comparing Hedonistic and Utilitarian Products Essay Example for Free

Comparing Hedonistic and Utilitarian Products Essay Utilitarian Consumption: The consumption of products has tangible benefit for consumer. In western culture, such products are often labeled as practical or necessary. Utilitarian products are purchased and consumed to satisfy consumer’s practical or functional needs. Utilitarian consumer behavior has been described as ergic, task-related and rational. In the marketing literature choice and decision with respect to utilitarian products and informed by the utility maximizing perspective. Thus the consumption of utilitarian products is more instrumental. The motivation initiating the need for a utilitarian product suggests that these products are primarily thought of in terms of their functional performance. Hedonic Consumption: The consumption of products for fun, amusement, fantasy, arousal, sensory stimulation, or enjoyment. Hedonic, pleasure-oriented consumption is motivated by the desire for sensual pleasure and fun. In western culture such products are often labeled as frivolous or decadent. The concept of hedonic consumption recognizes that individuals consume many types of products because of the feelings and images that are associated with the product. The cognitive motives driving the consumption of hedonic products are arguably the need to satisfy symbolic and value-expressive motives such as ego gratification, social acceptance and intellectual. Hedonic products have pleasure potential whereas utilitarian products perform functions in everyday life. Products with pleasure potential provide intangible, symbolic benefits and are likely to hold greater potential for evoking positive emotions in a consumer. Consumer decision making process: Consumers are often faced with these types of choices between hedonic and utilitarian alternatives that are at least partly driven by emotional desires rather than cold cognitive deliberations. Hence, these choices represent an important domain of consumer decision-making. Yet much of the pioneering work in behavioral decision theory has largely focused on the cognitive aspects of decision-making without exploring its emotional dimensions. Consumer decision is driven by functionality, usage and benefits out of various functions of product in the case of utilitarian consumption. But the decision making process is obsessed by symbolism, status, value-expression and social acceptance. For example: the decision of buying bread is driven is by its generic functions and attributes not by brand or image, which are already underlined and understood by every consumer. In case of designer suit the decision is influenced by its brand, image, labels and certain associations like brand ambassador , designer and promoters or co-owner also.

Vapor Compression Refrigeration Cycle Engineering Essay

Vapor Compression Refrigeration Cycle Engineering Essay A compressor is a mechanical device that used increases the pressure of a compressible fluid. The inlet pressure level can be any value from a deep vacuum to a high positive pressure. The discharge pressure can range from sub-atmospheric levels to high values in tens of thousands of pounds per square inch. The inlet and outlet pressure are related, corresponding with the type of compressor ant its configuration. Compressors are similar to pumps: both increase the pressure on a fluid and both can transport the fluid through a pipe. The fluid can be any compressible fluid, either gas or vapor, and can have a wide molecular weight range, that are from 2 for hydrogen to 352 for uranium hexafluoride. As gases are compressible, the compressor also reduces the volume of a gas. Liquids are relatively incompressible, so the main action of a pump is to pressurize and transport liquids. Applications of compressed gas vary from consumer products, such as the home refrigerator, to large complex p etrochemical plant installations. A vapor compression refrigeration system uses a refrigerant sealed in an airtight and leak proof mechanism. The refrigerant is circulated through the system and it undergoes a no of changes in its state while passing through various components of the system. Each such change in the state of vapor is called a process. The process of repetition of a similar order of operation is called a cycle. The compression cycle is given this name because it is the compression of the refrigerant by the compressor which permits transfer of heat energy. The refrigerant absorbs that from one place and releases it to another place. In other words the compressor is used to put the heat laden refrigerant vapor in such a condition that it may dispute the heat it absorbed at low pressure from the refrigerated space, to an easily available cooling medium. Oil refineries, petrochemical and chemical processing plants, and natural gas processing plants are among the many types of industrial plants that often u tilize large vapor-compression refrigeration systems. 2.1 Description of Vapor Compression System Most of the modern refrigerators work on this cycle. In its simplest form there are four fundamental operations require to complete one cycle. Compressor The low pressure vapor in dry state is drawn from the evaporator during the suction stroke of the compressor. During compression stroke the pressure and temperature increase until vapor temperature is greater than the temperature of condenser cooling medium. Condenser When the high pressure refrigerant vapor enters the condenser heat flows from condenser to cooling medium thus allowing the vaporized refrigerant to return to liquid state. Expansion Valve After condenser the liquid refrigerant is stored in the liquid receiver until needed. From the receiver it passes through an expansion valve where the pressure is reduced sufficiently to allow the vaporization of liquid a low temperature of about -10C. Evaporator The low pressure refrigerant vapor after expansion in the expansion valve enters the evaporator or refrigerated space where a considerable amount of heat is absorbed by it and refrigeration is furnished. The schematic diagram of the arrangement is as shown in Figure 2.1 below. The low temperature, low pressure vapor at state B is compressed by a compressor to high temperature and pressure vapor at state C. This vapor is condensed into high pressure vapor at state D in the condenser and then passes through the expansion valve. Here, the vapor is throttled down to a low pressure liquid and passed on to an evaporator, where it absorbs heat from the surroundings from the circulating fluid (being refrigerated) and vaporizes into low pressure vapor at state B. The cycle then repeats. B D C A Figure 2.1: Simple Vapor Compression System. The exchange of energy is as follows: Compressor requires work, w. The work is supplied to the system from the surroundings During condensation, heat Q1 the equivalent of latent heat of condensation etc, is lost from the refrigerator. During evaporation, heat Q2 equivalent to latent heat of vaporization is absorbed by the refrigerant. There is no exchange of heat during throttling process through the expansion valve as this process occurs at constant enthalpy. 2.2 Simple Vapor Compression Cycle Figure 2.2 below shows the simple vapor compression cycle: Figure 2.2: Simple Vapor Compression Cycle Process 1-2: The refrigerant as a mixture of liquid and vapour corresponding to state point 1 enters the compressor where isentropic compression takes place. The compression process increases the temperature of refrigerant from lower limit T2 to the upper limit Tl. Work is supplied to the system and after compression, the vapour is wet or saturated but not superheated. Process 2-3: The refrigerant in the form of vapour enters the condenser at state 2 and heat is rejected at constant pressure and temperature. At exit from the condenser, the refrigerant becomes saturated liquid at state point 3. Process 3-4: The refrigerant at state point 3 enters the expansion cylinder expands isentropic ally and its temperature drops to lower temperature T2 at the end of the expansion process. Work is obtained during the expansion process. Process 4-1: The liquid refrigerant at point 4 enters the evaporator and extracts heat at constant pressure and temperature from the space or substance being cooled and thus produces refrigerating effect. 2.3 Refrigeration Refrigeration may be defined as lowering the temperature of an enclosed space by removing heat from that space and transferring it elsewhere. A device that performs this function may also be called a heat pump. Freon is a trade name for a family of haloalkane refrigerants manufactured by DuPont and other companies. These refrigerants were commonly used due to their superior stability and safety properties: they were not flammable nor obviously toxic as were the fluids they replaced, such as sulfur dioxide. Newer refrigerants that have reduced ozone depletion effect include HCFCs (R-22, used in most homes today) and HFCs (R-134a, used in most cars) have replaced most CFC use. HCFCs in turn are being phased out under the Montreal Protocol and replaced by hydrofluorocarbons (HFCs), such as R-410A, which lack chlorine. However, CFCs, HCFCs, and HFCs all have large global warming potential. Newer refrigerants are currently the subject of research, such as supercritical carbon dioxide, known as R-744.[4] These have similar efficiencies compared to existing CFC and HFC based compounds, and have many orders of magnitude lower global warming potential. 3.0 TYPES OF COMPRESSORS 3.1 Centrifugal Compressor Centrifugal compressors use a rotating disk or impeller in a shaped housing to force the gas to the rim of the impeller, increasing the velocity of the gas. A diffuser (divergent duct) section converts the velocity energy to pressure energy. They are primarily used for continuous, stationary service in industries such as oil refineries, chemical and petrochemical plants and natural gas processing plants. Their application can be from 100ÂÂ  horsepower (75ÂÂ  kW) to thousands of horsepower. With multiple staging, they can achieve extremely high output pressures greater than 10,000ÂÂ  psi (69ÂÂ  MPa). Many large snowmaking operations (like ski resorts) use this type of compressor. They are also used in internal combustion engines as superchargers and turbochargers. Centrifugal compressors are used in small gas turbine engines or as the final compression stage of medium sized gas turbines. 3.2 Axial Flow Compressor Axial-flow compressors are dynamic rotating compressors that use arrays of fan-like airfoils to progressively compress the working fluid. They are used where there is a requirement for a high flow rate or a compact design. The arrays of airfoils are set in rows, usually as pairs: one rotating and one stationary. The rotating airfoils, also known as blades or rotors, accelerate the fluid. The stationary airfoils, also known as stators or vanes, decelerate and redirect the flow direction of the fluid, preparing it for the rotor blades of the next stage. Axial compressors are almost always multi-staged, with the cross-sectional area of the gas passage diminishing along the compressor to maintain an optimum axial Mach number. Beyond about 5 stages or a 4:1 design pressure ratio, variable geometry is normally used to improve operation.Axial compressors can have high efficiencies; around 90% polytropic at their design conditions. However, they are relatively expensive, requiring a large number of components, tight tolerances and high quality materials. Axial-flow compressors can be found in medium to large gas turbine engines, in natural gas pumping stations, and within certain chemical plants. 4.0 APPLICATION OF COMPRESSORS Gas compressors are used in various applications where either higher pressures or lower volumes of gas are needed: Pipeline transport of purified natural gas To move the gas from the production site to the consumer, or the transportation of goods through a pipe. Most commonly, liquid and gases are sent, but pneumatic tubes that transport solid capsules using compressed air have also been used. Often, the compressor in this application is driven by a gas turbine which is fueled by gas bled from the pipeline. Thus, no external power source is necessary. Plants and refineries Petroleum refineries, natural gas processing plants, petrochemical and chemical plants, and similar large industrial plants for compressing intermediate and end product gases. Refrigeration and air conditioner equipment To move heat from one place to another in refrigerant cycles: see Vapor-compression refrigeration. Gas turbine systems To compress the intake combustion air Commercial industry Storing purified or manufactured gases in a small volume, high pressure cylinders for medical, welding and other uses. Cylinder SCUBA diving, hyperbaric oxygen therapy and other life support devices to store breathing gas in a small volume such as in diving cylinders. Many various industrial, manufacturing and building processes to power all types of pneumatic tools.