How to apply motivation in the work place Research Paper

How to apply motivation in the work place - Research Paper Example Leibenstein argued more than forty years ago that â€Å"for a variety of reasons people and organizations normally work neither as hard nor as effectively as they could† and the both of them regarded motivation as an important factor to improve the efficiency of both employees an motivation. Since then, the debate has been on about what really motivates the people in the organization. It was found that an organization would really progress based on the commitment of the employees towards the organization rather than keeping them under their control. This led to the emergence of innovative management practices which targeted to enhance employees’ commitment towards the company through different techniques (Buford, 1993). Research question How to apply motivation in the work place? Background of Study Among the many functions that the Human Resource department has to work on, keeping employees motivated and retaining them is the foremost challenge that any organization fa ce. Hence it is of the paramount importance that the employees stay motivated and hence new management practices be adopted to give them a boost in their motivation so that they can exert much more effort in the business. For any organization the employees are the key resource, neglecting which can lead to catastrophic results like strike, shutdown etc. which will result in insurmountable loss that the company may not be able to bear. Hence organizations are trying to come up with new techniques to attack this issue and lower the retention level. Through foundation of studies, research theories and practical examples this paper will address the issue of what actually motivates the employees and what the managers need to do to achieve it and supports motivation and hence the performance. Literature Review Numerous researchers have investigated the relationship that exists between job satisfaction and work motivation. In the current business scenario, organizations across industries a re experiencing rapid competition. In this competitive environment the companies must consider the human factor that is becoming more and more important for the organization to survive. Business excellence will be achieved only when employees are motivated to work for the company (Dam, 2008). In difficult circumstances like violence, fear, tragedy, job insecurity the stress factor puts burden on the employees which result in reduced performance. Nowadays organizations have come to realize that motivated and satisfied employees are needed to powerfully deliver their task. As employee motivation is one of the primary tasks of management hence it is of prime importance that the management takes care of the employee’s needs. Motivation Motivation is the willingness of the employees to exert high efforts to achieve organizational goals, which must also satisfy some individual need. Here the important factor is the ‘need’ which is internal to the employee that makes ce rtain outcome appears attractive. It is basically the psychological forces which determine the amount of effort along with the persistence level that the employee shows while facing any obstacle. A motivated employee himself finds solution to any obstacle that he will face and keep moving forward (Hay, 2002). The

Investing in Futures and Options Essay Example for Free

Investing in Futures and Options Essay INTRODUCTION Of late, investors who are in the stock and commodity are focusing their attention towards risk management especially due to high volatility nature. Since these volatility movements are uncertain, it has become foremost cause of vagueness for such investors. Since the globalization of trade and free trade between major countries has become the order of the day, all most all the investors have to be under mercy of the exchange rate fluctuations which results in volatility   .The notion that exchange rates , profitability and other factors   influence a firm’s value and therefore the price of its stock is widely held by financial analyst ,economists and corporate managers . The liberalization of economic policies and investment policies due to world trade organization’s (WTO) free flow of investments and trade between member countries and bilateral free trade agreements between countries have augmented internationalization of economic activity and exceptional era of world wide currency and interest rates instability. To counter these financial risks, new pioneering concept commodity and stock market hedging techniques have nurtured at a rapid speed. The main feature of the using derivatives through hedging is to have control over the financial risk and minimizing the effect of uncertain cash flows. Financial institutions have come to rescue to these corporations who have exposure to financial risk with the range of products to assist in risk management. By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives. These instruments enhance the ability to differentiate risk and allocate it to the investors most able and   willing to take it – a process that has undoubtedly improved national productivity growth and standards of living .’ Allen Green Span, Chairman, Board of Governors of the US Federal Reserve System. The structural advantage of derivatives i.e. leverage or gearing   makes them suitable for managing risk can also result in the generation of leveraged profits or in the event of adverse market movement , a significant losses. The main advantage of gearing is that the buyer or seller need only to cough up a small proportion of total price at the time of deal is executed. It may be 1% and 8% depending upon the volatility of the underlying commodity or instrument. In the case of exchange traded transactions, this deposit is recognized as â€Å"initial margin† and is expected to reflect the amount by which the price of a contract may vary in one day’s trading. At the day end, all contracts will be valued and if the price has been found to move against the position, the losing party will have to pay further â€Å"variation margin† calls. In contrary, if the price movement is positive, credit will be given to the party .It is this element of gearing that provides the opportunity to make large gains or losses. Prudent handling of this leverage will result in considerable profit maximization and if it handled inexpertly, may generate losses .In some cases , these losses though high but they are few in number when measured against volume of business and number of participants in derivative business .The contributory factors for sustaining loss includes excessive position taking ( in relation to capital) , fraudulent activity , unexpected market moves, ineffective risk management, insufficient product understanding and inadequacies in corporate policy governing their use. What is a derivative? Derivative is a mathematical word which refers to a variable, which has been derived from another variable and they have no values of their own. Derivatives derive their value from the value of some other asset, which is referred as the underlying. For instance, a derivative of the shares of AT T Corporation (underlying), will derive its value from the share price (value) of AT T Corporation. Likewise, a derivative contract on wheat depends upon the price of wheat. An agreement or an option to buy or sell the underlying asset of the derivative up to a certain time in the future at a predetermined price i.e. the exercise price by way of special contract is known as derivative contract. The contract also has a flat expiry period mostly in the range of 3 to 12 months from the date of origination of the contract. The price of the underlying asset and the expiry period of the contract determine the value of the contract. Financial derivatives comprises of underlying financial asset like currency, debt instruments, equity shares, share price index etc.Exchange-traded derivatives are derivative contracts that has been standardized and traded on the stock exchanges. Over-the –counter derivatives is one which has been customized as per the requirements of the user by negotiating with the other party involved. Some of the common forms of derivatives are Futures, Forwards and Options. Futures: Futures are the derivative contracts that give the holder the chance to buy or sell the underlying asset at a pre-specified price some time in the near future and usually thy come with standardized form like contract size, fixed expiry time and price. The future market is one where continues auction market and exchanges presenting the recent information about the supply and demand as regards to individual commodities or financial instruments like stocks . In other words, future market is one where buyers and sellers of variety of commodities, financial instruments get together to trade. The main aim of the future market is to manage price risk. The future price risk is averted by buying or selling futures contract, with a price level arrived at now, for items to be delivered in future. This is achieved by hedging which helps to shield against the risk of an adverse price change in the near future or use of futures to lock in an acceptable margin between their purchase and their selling price. In futures, bankers, farmers, traders, manufacturers will arrange for the purchase or sale of a futures contract. In future market, commodities are broken down into five categories namely agriculture, metallurgical, interest bearingassets, jndexes and foreign currency. Agricultural futures market includes oats, corn , wheat , soybeans , soy meal ,soyoil,sunflower oil ,cattles , live hogs   and pork bellies, lumber , plywood ,cotton, coffee, cocoa, rice, orange juice and sugar. For every one of these commodities, different contract months are available and it depends upon the harvest cycle. More aggressively traded commodities usually have more contract months available and a new type of contract is available almost every month to meet the growing institutional and corporate market. Futures on Metallurgical Products: Petroleum products and metals is being covered under this group and it includes platinum, gold, silver, palladium, copper, gasoline, crude oil, propane and heating oil. Every month a new type of contract emerges to cater the needs of ever increasing institutional and corporate market. Assets which bears interest: This has its origin during 1975 and products in these categories include treasury bonds, Treasury Bills, Municipal Bonds, Treasury Notes and Eurodollar deposits. It is also possible to trade contracts with the same maturity but different expected interest rate differentials. Futures on Indexes: Now futures are available on most chief indexes such as New York Stock Exchange Composite, SP 500, New York Stock Exchange Utility index, Russell 2000, Commodity Research Bureau (CRB), SP 400 Midcap, FT-Se 100 Index (London) and Value line. These stock index features are settled in cash and there is no delivery of goods is involved in this method. A trader has to settle his positions by buying or selling an offsetting position or in cash at expiration. Foreign Currency Futures: During the post war period, the exchange rates and interest rates were stable and the mechanism of fixed exchange rates of the Bretton Woods era enabled the corporations to know in advance their foreign exchange liabilities for their imports. But the collapse of Bretton Woods’s system after the war resulted in the introduction of general floating exchange rates replacing the earlier fixed system. The introduction of floating exchange rates have resulted in large unexpected movements in exchange rates that too in unforeseen directions and magnitudes which affected interest rate movements as the monetary establishment tried to influence the exchange rates by movements in interest rates. It is to be noted that the forward market in currencies is much bigger than the foreign exchange futures market. Further, there are cross currency futures that are being traded and these includes Deutsch mark / yen, Deutsch mark / French franc. Forwards Options: Forward is another form of a derivative contract but tailored to the needs of the user in terms of expiry date, contract size, and price. These contracts confer the holder the option to buy or sell the under lying at a pre-determined price some time in the future .Call option is one where the buyer has given his option to buy the underlying at the near future .Where as an option to sell the underlying at a specified price in the future is called as Put Option. As regards to the option contract, the buyer is not obliged to exercise the option contract. Generally, options can be traded on the stock exchange or on the OTC. In option, the participants may assume a position in an underlying futures contract at a certain price which is known as exercise or strike price within a particular period of time. The price or premium of the option is determined through action market trading. Swaps: Swaps contract was introduced in 1981 and can be considered as one of the latest financial innovations to manage financial risks. The contracting parties are obliged to exchange specified cash flows at specified intervals under a swap contract. In a nutshell, a swap contract can be defined as a series of forward contracts put together. If the exchange of interest rate payments in one currency for payments in another currency is devised, then it amounts to a currency swap. If the exchange between two parties of interest obligations or receipts in the same currency on an agreed amount of notional principal for an agreed period of time is devised, then it is known as interest rate swap. An interest rate swap is an agreement between two parties to exchange interest payments calculated on different bases over a period of time. Under interest rate swap, one party to the contract makes fixed –rate payments while the other party’s payments are based on a floating rate such as LIBOR. For instance, if a company which has borrowed from a bank at a floating rate (7 m LIBOR) may want to swap that for a fixed rate (7m LIBOR) so that they can cover the risk if the interest rates go up. On one side, they pay 7% (of the agreed notional principal) and receive 7m LIBOR and on the other side they pay 7m LIBOR straight out to repay their loan. Thus they have converted a floating rate loan into a fixed rate loan. The said bank may manages its own risk from the above swap transaction by backing it out with another swap , say by paying 6.95% for 7m LIBOR and thus they earn a profit of 0.5% difference thus avoiding the risk in the interest rate changes . The other different types of interest rate swap are: Basis swap: For instance, swapping 2m LIBOR for 4m LIBOR. Basic swaps are mostly used by mortgage companies because the get the mortgage payments on monthly basis. Both fixed Currency Swap : Both fixed and say fixed $ for fixed  £ Both floating currency swap: 2m $ LIBOR for 4 m Yen LIBOR. Cross Currency Swap: fixed  £ for 2m CHF LIBOR. Companies derive more flexibility to exploit their comparative advantage in their respective borrowing markets under currency swaps. Under interest rate swap, corporations try to focus on their comparative advantage in borrowing in a single currency in the short end of the maturity spectrum vs. the long –end of the maturity spectrum. USES OF DERIVATIVES: Derivatives are mainly used for speculation or hedging. For speculation, derivatives offer us leverage. For instance, instead of buying  £ 5Million bond in the anticipation that its price will rise up, one can buy an option on that bond, which might only cost  £ 2000. The profit chances or opportunities are the same less the price of the option but the risk is much less as the most we can loose in this deal is the option price ( £ 2000). For hedging, derivatives let you to seal the price now for a trade in future or at least limits the rise or fall of that price. An UK company holding a US bond which is on the verge of its maturity could buy an interest rate option to guarantee the dollar / sterling rate did not diminish the value of its bond. Volatility is regarded as the most precise measure of risk and its return. The greater the volatility, the greater the risk and the reward as it is evidenced in the transaction from bull to bear markets. It is to be observed in the bearish market, volatility and risk augment while returns disappear including short –selling returns. History: The very first exchange for trading derivatives started by Royal Exchange in London, which allowed forward contract. Likewise, the first future contract was introduced to Yodoya rice market in Osaka, Japan in 1650. Then in 1848, Chicago Board of Trade was started to handle futures market of US. Russell Sage, a famous New York financier introduced synthetic loans using the principle of put-call parity. Sage could able to create a synthetic loan by fixing the put, call and strike prices with interest rate poignantly higher than the US usury law permitted. Chicago Mercantile Exchange started International Monetary Market in 1972 which permitted trading in currency futures. The Chicago Board of Trade started first interest rate futures in 1975.Treasury bill futures contract was introduced in 1975 by Merc. The Chicago Board Options Exchange was started in 1973 and there were publications for the first time option pricing model of Fischer Black and Myron Scholes. Chicago Board Options Exchange created an option on an index of stocks which was originally known as CBOE 100 index which later known as SP 100. During 1980, Swaps and other over-the –counter derivatives were introduced. It was in 1994, the derivative trade witnessed a series of huge losses and this affected experienced trading firms like Metallgesellschaft and Procter and Gamble. Orange country, California which is the America’s wealthiest city was declared as bankruptcy due to derivative trading and use of leverage in a portfolio of short -term Treasury securities. DERIVATIVES OR DESTRUCTIVE? A CASE STUDY OF BARINGS, UK. Baring Brothers, a British merchant bank went to bankruptcy in 1995 after incurring a whooping loss of  £ 860 million occurred on the Singapore and Osaka derivative exchanges. Nick Leeson, the bank’s star trader and absence of management controls to monitor his activities were the main reasons for this debacle. During the period between 1992 and 1995, Lesson built up positions in futures and options contracts on the Nikkei 225 stock exchange index, which proved highly profitable in the early years. Futures positions were bought by Lesson on the Nikkei index and financed cash calls on them as they fell in value by selling put options on the contract, thereby producing a straddle and thus betting against volatility of the market. Simex derivative exchange in Singapore were used to book the contracts and he run a hedged position on Nikkei index futures and make money by arbitraging between Singapore and Osaka markets. However he ceased hedging on the purchases made in Singapore and took on risk. Due to unexpected volatility in the market, losses were incurred and these losses in fact exceeded the net worth of Baring Bank .Lesson was later imprisoned for the falsification of records in an attempt to cover up his activities. The rationale of this case law is to elucidate how a bank can face bankruptcy if there is no proper risk management system is in force. The case also establishes the concept of ‘value at risk ‘(VAR) which is a simple method to express the risk of a portfolio. Because of the recent derivatives disasters, end-users, regulators, financial institutions and central bankers are now resorting to VAR as a method to foster stability in financial markets .The case illustrates how VAR could have been utilized to Baring Bank case to warn its management of the risk they were facing in advance. VOLATILITY: Volatility has its effect on administered market and it is high when both supply and demand are inelastic and liable to random shocks. According to Rudiger Dornbusch, market always overshoots in reaction to unexpected changes in economic variables. Volatility is a type of market incompetence and it is a reaction to uncertainty and excessive volatility is unreasonable. Volatility in stock and commodity market is represented by sharp changes in prices and inventory levels and level of volatility itself has fluctuated over the time. Changes in future prices, spot prices and inventories are influenced by changes in volatility Volatility is a determinant of changes in price expressed in percentage terms without regard to direction especially in stock price and stock index levels , commodities and in financial intermediaries .For example , an increase from 200 to 201 in one index is as same as the volatility terms to an increase in 100 to 101 in another index , because both changes are 1% and as this 1% increase is equal to volatility terms to a 1 % price decline .There are four ways to explain the volatility or movement and they are historical volatility , future volatility , expected volatility and implied volatility . Historical volatility is an appraiser of actual price variation during a particular period in the past. Future volatility refers annualized standard deviation of daily returns during particular future period basically between current and an option expiration. Expected volatility is an investor’s forecast of volatility utilized in an option method to gauge the theoretical value of an option. Implied volatility is the volatility percentage that illustrates the current market price of an option and it is the indicator of an option’s price. Volatility is described as standard deviation of the yield of an asset and the value of an option always increases with volatility. The greater the volatility, the higher the option chance during its life and convertible to the underlying asset at a marginal profit and this methodology has been proved in the Black-Scholes formula. Black-scholes formula yield results during trends and unsuccessful when the market change sign. â€Å" The implied volatilities are efficient forecasts of future volatility since varying market conditions cause volatilities to change through time stochastically and traditional volatilities   can not correct itself to varying market conditions as ghastly .Stochastic volatility contradicts the assumption required by the Black-Scholes model –if volatilities do modify stochastically through moment in time, the Black-Scholes method is no longer the correct pricing method and an implied volatility derived from the Black-Scholes formula provides no fresh information. Black-Scholes formula is lacking on certain issues like the oblique volatilities of various options on the identical stock tend to differ disregarding the formulas hypothesize that a single stock can be correlated with only one value of implied volatility. The Black-Scholes formula mainly ignores the distribution of stock prices in US market.   Some studies have revealed severe deviation from the price process fundamental to Black-Scholes formula like excess kurtosis, skewness, time varying volatilities and serial correlation. Further Black –scholes deals with stochastic volatility poorly and it relies on impractical assumption that market dickers endlessly thereby ignoring institutional constraints and transaction costs. Stock Charting: Stock charting is the process of a graphical sequence record enables it easier to dapple the effect of cardinal happenings on authoritarian security’s price., its functioning over a period of time and whether it’s trading its higher or its lower or in between these. Traders are very particular in daily, intraday data to forecast short-term price movements.   Investors rely on weekly and monthly charts to mark long term trends and movements. Line chart, Bar chart, Candlestick Chart and point and figure chart are some of the examples of stock charting method.   Arithmetic and semi-log arithmetic scales are two methods of price scaling used in the stock charting method. When the price range is hemmed within a tight range and used in general for short-term charts and trading. Semi-log scales are useful for long term charts to estimate the percentage movements over a foresighted period of time including large movements. Stock and other securities are estimated in relative terms through tools lime PE, Price/Revenues and Price/Book and as such it will be more useful to analyse in percentage terms. Ocillator: This is an indicator which is calculated by taking 10 day moving average of the difference between the numbers of advancing and defining issues for authoritarian given index. An indicator will reflect whether an index is gaining or losing impetus, so the size of the moves is more significant than the level of the current reading. The level of the reading is influenced by how the oscillator changes each day thereby dropping a value ten days ago and adding today’s value. The scale in moves is also helpful when it is compared with the divergence from the index price. If the Dow climaxes at the same time, the oscillator peaks in overbought area and suggests a top. Divergence is said to be negative and momentum is declining when index makes a new high but the oscillator fails to make a higher .One can buy if the index declines at this point but oscillator moves into oversold territory. If the oscillator rises above a previous overbought level though the index rises but does not make new heights, it is said to be upside momentum exists to continue the rally. Support: A support level is the price at which buyers are anticipated to enter the market in considerable numbers to take control from sellers. As the market has its track record, when price falls to a new low and then soars, the buyers who ignored on the first low will be persuaded to buy if price returns to that level back .Fearing of missing out the opportunity for the second time, these traders may enter into market in adequate numbers to take control from sellers. As the result, there is a rally strengthening sensitivity that price is unlikely to fall further thereby creating a support level. Resistance: The price level at which the sellers are anticipated to enter the market in sizeable numbers to take control from buyers is known as resistance level. If price makes a new High and then move back, sellers who ignored the previous High will be predisposed to sell when price returns to that level back. Fearing of missing the opportunity for the second time, these sellers may enter the market in large numbers to overwhelm buyers. As the result, market perception will be reinforced that price is unlikely to increase higher and form a resistance level. CANDLE CHARTING: It is a price chart that shows the open, low, the high and close for a stock each day over a specified period of time .It is known as Japanese candles because they used to analyse the price of rice contracts. When the close is higher than the open , the same is represented by an white empty box in the candle charting .When the close is lower than the open , then it is represented by a solid black candle ,Colored candles are used to reflect the day’s volume. Investment strategies in stock and options Following is the most of common investment strategies for keeping investment objectives, financial means and risk tolerance. Despite of market crash in 1929, market break in 1987, market correction in 1989 and though the prices of all securities fell down drastically but broad movement of the market has seen their value steadily increased. One of the strategies is to buy and hold for long the high quality stocks or futures of stock or commodities .The buy –and-hold strategy offers one to profit from this long term forward trend of the stock market. Further, dividend investment plan offers small investors a painless method of building wealth. Dollar –Cost Averaging: This is also a long term strategy and one has to invest in a stock or mutual fund or futures at regular intervals monthly, quarterly or semiannually. The success of dollar-cost averaging relies on consistency of amount invested and the regularity of the payments so as to minimize pricing and timing risk. The success of the Dollar cost averaging depends upon the following factors. The plan for the investment should be for a long period i.e. from 7 years to 10 years .In the last 100 years, there were about 40 recessions or market corrections or a downturn about every 3 years and If one carry on to invest through about three of these corrections, the profits of dollar-cost averaging tend to be maximized. 2 .Investment at regular intervals is most preferred. Investment should be made regularly regardless of the price of the stock. Give preference to high quality of stocks or mutual funds and a company or fund with history of habitual dividend payments and possible for capital appreciation is a better choice. One has to make sure that he has enough strength so that he can adhere to the plan through highs and lows and sell out at the peak and thus the money allocated for dollar-cost averaging result in wealth-building funds, not committed funds.[i] Going Short: An investor who prefers short i.e. enters into futures contract by agreeing to sell and deliver the underlying at a price and wishes to make profit from declining price levels and thereby selling high now , the contract can be repurchased in the future at a lesser price thus creating a profit for the investor. 16.Spreads: It involve taking benefit of the price difference between two different contracts of the same commodity and spreading is believed to be the most conventional forms of trading in the futures market because it is much safer than the trading long / short futures contract. There are different types of spread namely calendar spread, inter-exchange spread and inter-market spread. Swing Trading: It denotes a technique of placing emphasis on playing the swings in the PPS, selling on the highs and buying on the lows rather than the swiftness of the trade. To complete the swing trade, it may need more than a day, a week or authoritarian month or longer period and channeling stock is pursued by the some swing traders. Flipping: It refers the process of trading a stock very quickly with in minutes or hours etc as past as possible may be on the same day. It is often used to explain a buy and sell with a share that is running and where the trader buys the stock as it is moving up and sells the same on even a higher point in a short period of time. A flipper aim is to maximize his profits by emphasizing on fast trades to earn quick profits. The risk is also less downside as the trader sits in a stock for a less time. [i] Hall, Alvin D., and Carolyn M. Brown. Investment Strategies Made Easy: Heres How to Overcome Your Fears of the Market and Invest like a Pro. Black Enterprise Mar. 1994: 66+. 2.Fisher, Black and Myron Scholes, â€Å"The pricing of Options and Corporate Liabilities â€Å"The Journal of Political Economy, 81,637-654. 3.Mackay, Charles. Extraordinary Popular Delusions and the Madness of Crowds: New York, Harmony Books (1980). 4.Chance .Don M.† A Chronology of Derivatives† Derivative Quarterly, 2 (winter, 1955) 53-60. 5.Thomas L. Friedman ,The World Is Flat: A Brief History of the Twenty-first Century Stephen Leeb, Glen Strathy ,The Coming Economic Collapse: How You Can Thrive When Oil Costs $200 a Barrel 7.George A. Fontanills, Tom Gentile The Volatility Course 8.George Soros, Paul A. Volcker The Alchemy of Finance (Wiley Investment Classics) 9.John C. Hull Options, Futures and Other Derivatives (6th Edition) 10.Marc Allaire ,The Options Strategist 11. George Kleinman, Trading Commodities and Financial Future: A Step by Step Guide to Mastering the Markets (3rd Edition). 12. Sheldon Natenberg ,Option Volatility Pricing: Advanced Trading Strategies and Techniques Jeffrey M. Christian, Commodities Rising: The Reality Behind the Hype and How To Really Profit in the Commodities Market. John J. Murphy ,Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance John F. Carter, Mastering the Trade (McGraw-Hill Trader’s Edge) 16. Joseph Kellogg, Trading From the Inside 17. Thomas N. Bulkowski ,Encyclopedia of Chart Patterns (Wiley Trading) 18.Stephen W. Bigalow, Profitable Candlestick Trading: Pinpointing Market Opportunities to Maximize Profits

The Media Influence on Society Essay -- Media, social reform, class hi

The Media influence on society According to Noam Chomsky, â€Å"What lies behind us and before us are very small matters compare to what lies right to the face.† The issue of the media influence on society’s cultural structure has frequently been debated. The impact on the audience by the media influences the interpretations of social order. Also, the media goes hand in hand with American politics. The information provided by the media is controlled by business cooperates and their economic interest that is shared by political elites. The media is responsible for creating different classes with respect to appearance, color, economic status, religion, and with the help of politics, advertisement because of the media’s powerful influence on public perception, which directly or indirectly affects the consciousness of a human being. The media can be very biased about a story, advertisements, coverage on different social issues. The media Pundits and talk heads talk about thinks which will make a story interesting, outrageous and as incredible as possible just to make profit out of it. For example, the media reporting of the Iraqi war, also known as â€Å"War on Terrorism†, influenced Americans to unleash a sentiment of patriotism which lead to a feeling of intolerance against the Middle Eastern. On the other hand, the media ignored people smashing the stores of the Middle Eastern looking ethnicity people in America. The Middle Eastern looking human being is looked upon as terrorist and the media help this influence of apprehension to spread. Entertainment and public information seen to be two key roles of the media and it is the mirror of the society. The media claims that it shows what audiences want to see. In reality the media is a dus... ...often heard, â€Å"oh, Oakland is dangerous place to live because it is mostly black neighborhood and crime rate is very high.† Why black and crime is related to each other? The media labels certain group of society but providing false or incomplete information about them. The black people are labeled by the media as criminals and drug addicts. Therefore, one will not see a white family living in a black neighborhood. The most effective way to change public opinion is the media. But information provided by the media is illogical. In the media, the image tends to float around stereotypes that spot of a person in society is mostly a function of their own hard work and achievement or, in case of the poor, lack of efforts and attainments. Labeling different social groups of society is on the outcomes of the media and it simply describes America as a class biased nation.

Garner v. Tennessee Case

A case in which the court ruled that a Tennessee â€Å"fleeing felon† law was unconstitutional because it legalize the use of deadly force by police when a suspect poses no immediate threat to the police or others. The court ruled that the use of deadly force was a Fourth Amendment seizure issue subject to a finding of â€Å" reasonableness. †Father, whose unarmed son was shot by police officer as son was fleeing from the burglary of an unoccupied house, brought wrongful death action under the federal civil right statute against the police officer who fired the shot, the police department and others. The United States District Court for the Western District of Tennessee, Harry W. Wellford, J. , after remand, rendered judgement for defendant, and father appealed. The Court of Appeal for the Sixth Circuit, and remanded. Certiorari was granted.The Supreme Court held that: apprehension by use of deadly force is a seizure subject to the Fourth Amendment’s reasonablene ss requirement; deadly force may not be used unless it is necessary to prevent the escape and the officer has probable cause to believe that the suspect poses a significant threat of death or serious physical injury to the officer or others; Tennessee statute under authority of which police officer fired fatal shot was unconstitutional because it authorized use of deadly force against apparently unarmed, non dangerous fleeing suspect; the fact that unarmed suspect had broken into a dwelling at night did not automatically mean that he was dangerous. At about 10:45 p. m.  on October 3, 1974, Memphis Police Officers Elton Hymon and Leslie Wright were dispatched to answer a prowler inside call.The fleeing suspect, who was appellee-respondent’s decedent, Edward Garner, stopped at a 6-feet-high chain link fence at the edge of he yard. With the aid of a flashlight, Hymon was able to see Garner’s face and hands. He saw no sign of weapon, and, though not certain, was reasonab ly sure and figured that Garner was unarmed, He thought Garner was 17 or 18 years of age and about 5’5’’ or 5’7’’ tall. While Garner was crouched at the fence, Hymon called out Police! and took a few steps toward him. Garner then began to climb over the fence. Convinced that if Garner made it over the fence he would ran away, Hymon shot him.The bullet hit Garner in the back of the head. Garner was taken to a hospital, where he was pronounce dead on the operating table. Ten dollars and a purse taken from the house were found on his body. In using deadly force to prevent the escape , Hymon was acting under the authority of a Tennessee statute and pursuant to Police Department policy. The statute provides that â€Å" if, after notice of the intention to arrest the defendant, he either flee, or forcibly resist, the officer may use all necessary means to affect the arrest. † The District Court concluded that Hymon’s action were auth orized by the Tennessee statute, which in turn was constitutional.Hymon had employed the only reasonable and practicable means of preventing Garner’s escape. Garner had recklessly and unmindfully attempted to jump over the fence to escape, thereby assuming the responsibility to be risk of being fired upon. The Court of Appeals for Six Circuit affirmed with regard to Hymon, finding that he had acted in good-faith according to the Tennessee statute and was therefore within the scope of his qualified immunity. It remanded for reconsideration of the possible liability of the city, however. Justice White then delivered the opinion of the by saying â€Å" This case requires us to determine the constitutionality of the use of deadly force to prevent the escape of an apparently unarmed suspected felon.We conclude that such force may not be used unless it is deemed necessary to prevent the escape and the officer has probable cause to believe that the suspect poses a significant threa t of death or serious physical injury to the officer or others. The Court of Appeals reasoned that the killing of a fleeing suspect is a seizure under the Fourth Amendment, and is therefore constitutional only if reasonable. The Tennessee statute failed as applied to this case because it did not adequately limit the use of deadly force by distinguishing between felonies of different magnitudes. The facts as found, did not justify the use of deadly force under the Fourth Amendment.Officer cannot resort to deadly force unless they have probable cause to believe that the suspect has committed a felony and poses a threat to the safety of the officers or a danger to the community if left on the loose. The State of Tennessee, which had intervened to defend the statute, appealed to this court. The city filed for petition for certiorari. Whenever an officer restrain the freedom of a person to walk away, he has seized that person. While it is not always clear just when minimal police interfe rence become a seizure, there can be no question that apprehension by the use of deadly force is a seizure subject to the reasonableness requirement of the Fourth Amendment.A police officer may arrest a person if he has probable cause to believe that person committed a crime. Petitioner and appellant argued that if this requirement is satisfied, the Fourth Amendment has nothing to say about how that seizure is made. This submission ignores the many cases in which this Court, by balancing the extent of the intrusion against the need for it, has examined the reasonableness of the manner in which a search or seizure is conducted. To determine the constitutionality of a seizure â€Å"we must balance the nature and quality of the intrusion on the individual’s Fourth Amendment interest against the importance of the government interest alleged to justify the intrusion.†Because one of the factors is the extent of the intrusion, it is plain that reasonableness depends on not on ly when a seizure is made, but also how it is carried out. Notwithstanding probable cause to seize a suspect, an officer may not always do so by killing him. The intrusiveness of a seizure by means of deadly force is unmatched. The suspect‘ s fundamental interest in his own life need not be elaborated upon. The use of deadly force also frustrate the interest of the individual, and of society, in judicial determination of guilt and punishment. Against these interests are ranged governmental interest in effective law enforcement. It is argued that overall violence will be reduced by encouraging the peaceful submission of suspects who know that they may be shot if they flee.Effectiveness in making arrest requires the resort to deadly force, or at least the meaningful threat thereof. Being able to arrest such individuals is a condition precedent to the state’s entire system of law enforcement. † Without in any way disparaging the importance of these goals, we are not such convinced that the use of deadly force is sufficiently productive means of accomplishing them of justify the killing of nonviolent suspects. The use of deadly force is a self-defeating way of apprehending threat of deadly force might be thought to lead to the arrest of more live suspects by discouraging escape attempts, the presently available evidence doe not support this thesis.The use of deadly force to prevent the escape of all felony suspect, whatever the circumstances, is unconstitutionally unreasonable. It is no better that all felony suspects die than that they escape. Where the suspect poses no immediate threat to the officer and no threat to others, the harm resulting from failing to apprehend him does not justify the use of deadly force to do so. It is no doubt when a suspect who is in sight escapes, but the fact that the police arrive a little late or are a little slower afoot doe not always justify killing the suspect. A police officer may not seize an unarmed, non dangerous suspect by shooting him dead. The Tennessee statute in unconstitutional because as it authorizes the use of deadly force against such fleeing suspects.It is not, however, unconstitutionally unreasonable to prevent escape by using deadly force. Thus, if the suspect threatens the officer with a weapon of there is probable cause to believe that he has committed a crime involving the infliction or threatened infliction of serious physical harm, deadly force may be used if necessary to prevent escape, and if where feasible, some warning has been given. As applied in such circumstances, the Tennessee statute would pass constitutional muster. We do not deny the practical difficulties of attempting to assess the suspect’s dangerousness. However, similarly difficult judgement must be made by the police in equally uncertain circumstances.Nor is there any indication that the States that allow the use of deadly force only against dangerous suspects, the standard has been diffi cult to apply os has led to a rash of litigation involving inappropriate second-guessing of police officers‘ split-second decisions. Moreover, the highly technical felony or misdemeanor distinction is equally, if not more, difficult to apply in the field. And officer is no position to know, for example, the precise value of property stolen, or whether the crime was a first or second offense. Finally, as noted above, this claim must be viewed with suspicion in light of the similar self-imposed limitations of so many police department.The District Court concluded that Hymon was justified in shooting Garner because state law allows, and the Federal Constitution does not forbid the use of deadly force to prevent the escape of a fleeing felony suspect if no alternative means of apprehension is available. This conclusion made a determination of Garner’s apparent dangerousness unnecessary. The court did find, however, that Garner appeared to be unarmed, though Hymon could not be certain that was the case. Restated in Fourth Amendment terms, this means Hymon had no articulable basis to think Garner was armed. In reversing, the Court of Appeals accepted the District Court’s factual conclusions and held that the facts, as found, did not justify the use of deadly force. Officer Hymon could not reasonably believed that Garner posed any threat.Indeed, Hymon never attempted to justify his action on any basis other than the need to prevent an escape. Hymon did not have probable cause to believe that Garner, whom he correctly believed to be unarmed posed any physical danger to himself or others. The judgement of the Court of Appeals is affirmed, and the case is remanded for further proceeding consistent with this opinion. As stated in the concept paper, in the killing of Miriam Carey by Washington DC Police. The Tennessee v. Garner case can be used as precedent in justifying the use of deadly force while she was fleeing. Where he reckless driving in attemp t to flee the scene can be consider as immediate threat to the police officers and the others.

Greek Mythology: The Muses

Greek Mythology The Muses Sister Goddesses, The Muses, were in charge of the world of Literature, Art, and Society. The Nine Daughters of Zeus and Mnemosyne; they gave inspiration to artist, writers and other artistically gifted people. â€Å"The Nine Muses have been inspiring artists since the antiquity and there countless paintings, drawings, designs, poems and statues dedicated to them. All artists of the Renaissance acknowledged their importance in artistic creation, dedicating their works to the Muses. †[1] The number of Muses varies over time.At first only one Muse was spoken of but later poets mention three: Melete (Practice, Study), Mneme (Memory), and Aoede (Song). They were nymphs in Pieria, which is found in western Thrace, and their cult was brought to Mount Helicon in Boeotia by the Aloads. Eventually it became accepted that there were nine muses: Calliope, Clio, Erato, Euterpe, Melpomene, Polyhymnia, Terpsichore, Thalia, and Urania. The Muse Clio discovered histo ry and guitar. History was named Clio in the ancient years, because it refers to â€Å"Kleos† the Greek word for the heroic acts.Clio was always represented with a clarion in the right arm and a book in the left hand. Muse Euterpe discovered several musical instruments, courses and dialectic. She was always depicted holding a flute, while many instruments were always around her. Muse Thalia was the protector of comedy; she discovered comedy, geometry, architectural science and agriculture. She was also protector of Symposiums. She was always depicted holding a theatrical – comedy mask. Opposite from Thalia, Muse Melpomene was the protector of Tragedy; she invented tragedy, rhetoric speech and Melos.She was depicted holding a tragedy mask and usually bearing a bat. Terpsichore was the protector of dance; she invented dances, the harp and education. She was called Terpsichore because she was enjoying and having fun with dancing ( â€Å"Terpo† in Greek refers to be amused). She was depicted wearing laurels on her head, holding a harp and dancing. Muse Erato was the protector of Love and Love Poetry – as well as wedding. Her name comes from the Greek word â€Å"Eros† that refers to the feeling of falling in love.She was depicted holding a lyre and love arrows and bows. Muse Polymnia was the protector of the divine hymns and mimic art; she invented geometry and grammar. She was depicted looking up to the Sky, holding a lyre. Muse Ourania was the protector of the celestial objects and stars; she invented astronomy. She was always depicted bearing stars, a celestial sphere and a bow compass. Muse Calliope was the superior Muse. She was accompanying kings and princes in order to impose justice and serenity. She was the protector of heroic poems and rhetoric art.According to the myth, Homer asks from Calliope to inspire him while writing Iliad and Odyssey, and, thus, Calliope is depicted holding laurels in one hand and the two Homeric poems in the other hand. The ancient writer Hesiod said of them, â€Å"They are all of one mind, their hearts are set upon song and their spirit is free from care. He is happy whom the Muses love. For though a man has sorrow and grief in his soul, yet when the servant of the Muses sings, at once he forgets his dark thoughts and remembers not his troubles.Such is the holy gift of the Muses to men. â€Å"[2] The Myth â€Å"[The Muses] are all of one mind, their hearts are set upon song and their spirit is free from care. He is happy whom the Muses love. For though a man has sorrow and grief in his soul, yet when the servant of the Muses sings, at once he forgets his dark thoughts and remembers not his troubles. Such is the holy gift of the Muses to men. † ~Hesiod~[3] Ancient Greek legend tells us that Pegasus often wandered, stopping to rest on Mt. Olympus.One day, when his hoofs touched the ground on Mount Helicon, four sacred springs of water formed and from these springs the Muses (goddesses of inspiration) were born. The Muses were the nine beautiful chosen goddesses that reigned over the liberal arts and sciences, especially music, poetry, and all of the visual arts. Athena caught and tamed the wild Pegasus and kindly presented him to the Muses. One day the muses began to sing on Mt. Helicon. The mountain, so filled with ecstasy, it rose to the heavens until Pegasus, under Poseidon's command, kicked his hoof, stopping the mountain's upward progress.A fountain of water gushed forth called the Fountain of Hippocrene. The fountain was sacred to the Muses and is believed to be the source of music and poetic inspiration. According to legend, the birth of both wine and art occurred when Pegasus' hooves unleashed the sacred spring of the Muses. [4] Norn's [5] The Goddesses of Destiny In Norse mythology, the Norn’s are the demi-goddesses of destiny. They control the destinies of both gods and men, as well as the unchanging laws of the cosmos.They a re represented as three sisters: Urd (â€Å"fate†), Verdandi (â€Å"necessity†) and Skuld (â€Å"being†). They live at the base of the World Tree Yggdrasil in the realm of Asgard. Nothing lasts forever, and even the mighty Yggdrasil is subject to decay. The Norn’s try to stop this process, or at least slow it down, by pouring mud and water from the Well of Fate over its branches. This magical liquid stops the rotting process for the time being. In other myths, the Norn’s were thought to give assistance at birth, and that each person has his own personal Norn. [6]

Free Essays on Role Of Greek Gods In The Illiad

Role of Greek Gods In the Illiad With our view of God, it can sometimes be difficult to comprehend the actions and thinking of the Greek deities. The Christian God does not tend to take such an active role in the affairs of people's lives, where, on the other hand, the Greeks regarded direct involvement by the gods as a daily, uncontrollable part of life. Needless to say, divine intervention was a major variable in the equation of Homer's Iliad. The gods picked who they would favour for different reasons. Except Zeus: As the symbol of supreme authority and justice, he makes judgement calls as to the other gods' involvement in the war, remains impartial, and doesn't seem to get caught up in picking favourites. Even when his own son, Sarpedon, was about to die, Zeus chose to let the outcome go unaltered. On the other hand, Zeus's wife, Hera, displayed the more typical actions of a god. After Paris, a Trojan, judged Aphrodite the fairest over Hera, and, after her daughter Hebe was replaced as cupbearer to the gods by a young Trojan boy, she was quite resentful towards Troy and its people. Obviously she sided with the Greeks and would stop at no length to express her will. Scheming and manipulating she even dared to trick her husband, King of the Gods. Hera, along with Athena, who was also passed over by Paris, is seen as the chief divine aid to the Greeks. Being the god of the sea, Poseidon was another strong supporter of the ocean-faring Greeks. Whenever Zeus turned his back Poseidon tried to help the Greeks in the fight. Poseidon felt that he was somewhat Zeus's equal as his brother, but recognizing Zeus's authority and experience, he looked to Zeus as an elder. There were also Gods who favoured the Trojan side of the conflict. Both Apollo and Artemis, twin brother and sister, gave aid to the city of Troy. Although Artemis takes a rather minor role, Apo... Free Essays on Role Of Greek Gods In The Illiad Free Essays on Role Of Greek Gods In The Illiad Role of Greek Gods In the Illiad With our view of God, it can sometimes be difficult to comprehend the actions and thinking of the Greek deities. The Christian God does not tend to take such an active role in the affairs of people's lives, where, on the other hand, the Greeks regarded direct involvement by the gods as a daily, uncontrollable part of life. Needless to say, divine intervention was a major variable in the equation of Homer's Iliad. The gods picked who they would favour for different reasons. Except Zeus: As the symbol of supreme authority and justice, he makes judgement calls as to the other gods' involvement in the war, remains impartial, and doesn't seem to get caught up in picking favourites. Even when his own son, Sarpedon, was about to die, Zeus chose to let the outcome go unaltered. On the other hand, Zeus's wife, Hera, displayed the more typical actions of a god. After Paris, a Trojan, judged Aphrodite the fairest over Hera, and, after her daughter Hebe was replaced as cupbearer to the gods by a young Trojan boy, she was quite resentful towards Troy and its people. Obviously she sided with the Greeks and would stop at no length to express her will. Scheming and manipulating she even dared to trick her husband, King of the Gods. Hera, along with Athena, who was also passed over by Paris, is seen as the chief divine aid to the Greeks. Being the god of the sea, Poseidon was another strong supporter of the ocean-faring Greeks. Whenever Zeus turned his back Poseidon tried to help the Greeks in the fight. Poseidon felt that he was somewhat Zeus's equal as his brother, but recognizing Zeus's authority and experience, he looked to Zeus as an elder. There were also Gods who favoured the Trojan side of the conflict. Both Apollo and Artemis, twin brother and sister, gave aid to the city of Troy. Although Artemis takes a rather minor role, Apo...

Battle of the Somme in World War I

Battle of the Somme in World War I The Battle of the Somme was fought from July 1 to November 18, 1916 during World War I (1914-1918). In 1916, the British and French intended to launch a large-scale offensive along the Somme River. With the beginning of the Battle of Verdun in February, the focus changed to a British-centric operation with the goal of relieving pressure on the French. Moving forward on July 1, the British sustained massive losses in the opening hours of the offensive while French troops made some gains. Far from the breakthrough hoped for by the high command, the Battle of Somme became an extended, grinding affair that came to symbolize the futility of the fighting on the Western Front.   Background Meeting at Chantilly in December 1915, the Allied high command worked to develop war plans for the coming year. It was agreed that the most effective path forward would be simultaneous offensives on the Eastern, Western, and Italian Fronts. This approach would preclude the Central Powers from being able to shift troops to meet each threat in turn. On the Western Front, the British and French planners moved forward and ultimately decided to mount a large, combined offensive along the Somme River. The initial plan called for the bulk of the troops to be French with support from the British Fourth Army in the north. While supportive of the plan, the commander of the British Expeditionary Force, General Sir Douglas Haig, had originally desired to attack in Flanders. As plans for the Somme offensive were developed, they were soon changed in response to the Germans opening the Battle of Verdun in late February 1916. Rather than delivering the crippling blow to the Germans, the Somme offensives principal goal would now be to relieve pressure on the beleaguered French defenders at Verdun.   Additionally, the primary composition of the troops involved would be British rather than French. Planning For the British, the main push would come north of the Somme and would be led by General Sir Henry Rawlinsons Fourth Army. Like most parts of the BEF, the Fourth Army was largely composed of inexperienced Territorial or New Army troops. To the south, French forces from General Marie Fayolles Sixth Army would attack on both banks of the Somme. Preceded by a seven-day bombardment and the detonation of 17 mines under German strong points, the offensive began at 7:30 AM on July 1. Attacking with 13 divisions, the British attempted advance up an old Roman road that ran 12 miles from Albert, northeast to Bapaume. Armies Commanders Allies Field Marshal Douglas HaigGeneral Ferdinand Foch13 British and 11 French divisions (rising to 51 and 48) Germany General Max von GallwitzGeneral Fritz von Below10 divisions (rising to 50) Disaster on the First Day Advancing behind a creeping barrage, British troops encountered heavy German resistance as the preliminary bombardment had been largely ineffective. In all areas the British attack achieved little success or was repulsed outright. On July 1, the BEF suffered over 57,470 casualties (19,240 killed) making it the bloodiest day in the history of the British Army. Dubbed the Battle of Albert, Haig persisted in pushing forward over the next several days. To the south, the French, utilizing different tactics and a surprise bombardment, achieved more success and reached many of their initial objectives. Grinding Ahead As the British attempted to re-start their attack, the French continued to advance along the Somme. On July 3/4, the French XX Corps nearly achieved a breakthrough but was forced to halt to allow the British on their left flank to catch up. By July 10, French forces had advanced six miles and had captured the Flaucourt Plateau and 12,000 prisoners. On July 11, Rawlinsons men finally secured the first line of German trenches, but were unable to breakthrough. Later that day, the Germans began shifting troops from Verdun to reinforce General Fritz von Belows Second Army north of the Somme (Map). As a result, the German offensive at Verdun was ended and the French achieved the upper hand in that sector. On July 19, German forces were reorganized with von Below shifting to First Army in the north and General Max von Gallwitz taking over Second Army in the south. In addition, von Gallwitz was made an army group commander with responsibility for the entire Somme front. On July 14, Rawlinsons Fourth Army launched an attack Bazentin Ridge, but as with other earlier assaults its success was limited and little ground was gained. In an effort to break the German defenses in the north, Haig committed elements of Lieutenant General Hubert Goughs Reserve Army. Striking at Pozià ¨res, Australian troops carried the village largely due to the careful planning of their commander, Major General Harold Walker, and held it against repeated counterattacks. Success there and at Mouquet Farm allowed Gough to threaten the German fortress at Thiepval. Over the next six weeks, the fighting continued along the front, with both sides feeding a grinding battle of attrition. Efforts in the Fall On September 15, the British mounted their final attempt to force a breakthrough when they opened the Battle of Flers-Courcelette with an attack by 11 divisions. The debut of the tank, the new weapon proved effective, but was plagued by reliability issues. As in the past, British forces were able to advance into the German defenses, but could not fully penetrate them and failed to reach their objectives. Subsequent small assaults at Thiepval, Gueudecourt, and LesbÅ“ufs achieved similar results. Entering the battle on a large scale, Goughs Reserve Army began a major offensive on September 26 and succeeded in taking Thiepval. Elsewhere on the front, Haig, believing a breakthrough was near, pushed forces towards Le Transloy and Le Sars with little effect. With winter approaching, Haig initiated the final phase of the Somme Offensive on November 13, with an attack along the Ancre River to the north of Thiepval. While assaults near Serre failed completely, attacks to the south succeeded in taking Beaumont Hamel and achieving their objectives. A final attack was made on the German defenses on November 18 which effectively ended the campaign. Aftermath The fighting at the Somme cost the British approximately 420,000 casualties, while the French incurred 200,000. German losses numbered around 500,000. During the campaign British and French forces advanced around 7 miles along the Somme front, with each inch costing around 1.4 casualties. While the campaign achieved its goal of relieving pressure on Verdun, it was not a victory in the classic sense. As the conflict increasingly became a war of attrition, the losses incurred at the Somme were more easily replaced by the British and French, than by the Germans. Also, the large-scale British commitment during the campaign aided in increasing their influence within the alliance. While the Battle of Verdun became the iconic moment of the conflict for the French, the Somme, particularly the first day, achieved a similar status in Britain and became a symbol of the futility of war.

6 Resume Tips for Recent Graduates

6 Resume Tips for Recent Graduates School can feel like an intense bubble while you’re in it. Classes, papers, grades, and activities take up so much of your time and energy. But then graduation comes, and it’s time and put those skills and that knowledge to use for cash money and a satisfying career. That can be a tough transition, so if you’re high on potential and low on experience, don’t despair. To get yourself ready for the post-graduation job hunt, here are 6 great resume tips for recent graduates. If you already have some experiences from internship or part time jobs, you can also check out our guide on resume best practices 2016.1. Don’t stress about lack of experience.You’re a new grad- no one expects you to have experience beyond an entry level. What you do have already are skills. Your resume should be heavy on the skills you’ve been developing through your academic career: for example, software training and use, presentation skills, and problem solving skil ls. You also likely have part-time work, student employment, or volunteer experience as well. Definitely don’t forget those, even if they’re not obviously related to your future career.2. Think about what you need.It can also be stressful if you feel like your education hasn’t really prepared you for the job market. I’ve been there: I was an English major at a large state university. The school focused on academics and teaching as postgrad options- both of which I’d already ruled out as careers for myself. So I sat down researching what I could do with my English degree, and what my interests were. That led to publishing, and I came up with a plan to get extra training in editing and writing while working general office jobs to get experience and pay my postgrad bills.Thinking about what you really want, and having an action plan to get it can really help you refine your resume.3. Don’t forget the extracurriculars.If you have activities that have helped build skills (student government, Spanish Club, Future Accountants of America), you should take stock of those skills as well. As you get further into your career, you won’t need to lean as heavily on your school activities, but when you’re getting started those skills you picked up can help fill in for concrete experience. If you decide to use your extracurriculars in your resume, be sure to use examples of how they helped build your skills.4. You don’t need to write a novel.Again, no one expects recent grads to come up with a several-pages-long list of accomplishments. A clear, concise one-pager is fine.5. Be prepared to edit.Similar to #3, you don’t need to have one sacred resume doc that fits all. This means you should plan to do several stages of editing. The first round is to go through and figure out what’s necessary to include (skills, training, education, recent honors/awards, work experience) and what’s probably not cr ucial (specific classes you took, the spelling award you got in third grade, or the six months you thought you wanted to be a puppeteer- false alarm).The second round of edits should be specific to each job you’re applying for. Include related honors and awards, any experience you have in that area, and applicable skills. Be creative†¦if your thankless summer job included dealing with customers of (ahem) varying degrees of politeness, emphasize in your resume that you have strong communication and public service skills.6. Play with the format.If you’re following the traditional resume template of education/coursework, jobs, accomplishments, and then general skills, consider switching it up. Quality is more important than format, and you want the reader to be presented with your best side up front. If you feel more comfortable leaning on your skills over your experience, frontload those.For example, your resume could be: skills/training, education, awards, then job s and experience. As long as your resume is a coherent snapshot of you and is written well, you’re not stuck with any particular format.The best thing you can do for your postgrad rà ©sumà © is to put in the time and effort to figure out what you already have working for you, and how to spin it. â€Å"New grad† doesn’t have to mean â€Å"blank slate.† You can totally make it mean â€Å"building a new career on a great foundation.†

EXAMINATIONS STRATEGIC MANAGEMENT AND SUSTAINABILITY Essay

EXAMINATIONS STRATEGIC MANAGEMENT AND SUSTAINABILITY - Essay Example Moreover, valuable business operation techniques and business policies according to the business ethics help Apple Inc. to maintain its high brand image and supreme brand equity in global market place. Apart from all these aspects, the organization always develops and implements several valuable strategies in business operation processes in order to gain potential competitive advantages. The essay will conduct a value chain analysis in order to determine that how Apple Inc. can contribute to adding value in each of the business operation areas. In addition to this, the study will determine how Apple Inc. uses policies and techniques to satisfy the expectation of the stakeholders. Finally, Ansoff matrix has been used in this essay to identify various strategies that could be adopted by Apple Inc. to pursue growth. Apple Inc. has adopted and implemented several unique business operation strategies in order to enhance effective strategic management practices and sustainability in business operation process. This part of the essay will discuss about the adopted and implemented business operation strategies by Apple Inc. It is an important strategic analytical tool that will help to describe the categories of activities within and around Apple Inc, which together create quality products. Firm infrastructure, HRM, Technology development and procurement are supporting activities. On the other hand, inbound logistics, operations, outbound logistics, marketing and sales, and service are the primary activities (Figure 1). Apple Inc. generally obtains the resources and components from several multiple sources around the globe. For example, computer hardware products are generally manufactured by the Asian outsourcing partner, such as Foxconn (Young and Simon, 2006, p.43). In terms of raw material acquisition, the organization collaboratively works with its OEM partners in order to allot the process of raw material

Anishinnabe study Assignment Example | Topics and Well Written Essays - 250 words

Anishinnabe study - Assignment Example One of the steps of colonization was identified as being denial and withdrawal. The colonizers deny the availability of cultural and social beliefs for the indigenous people. The second step was denial or eradication. The colonizers destroy any representation of the local people. The third step is denigration of the existing cultural practices by establishing their structures and social systems in the colony. The fourth step is tokenism of the colonial remnants who survive the onslaught of the colonizers. Finally, there is transformation and exploitation. The traditional culture that refuses to die is transformed into the dominating culture of the colonial society The Indian act emerged from the consolidation of the Gradual Enfranchisement Act of 1869 and the Gradual Civilization Act 1857 in 1876. One of the changes in the Indian Act is the ban of Potlatch that was a ceremony of the coastal first Nations in the west. Another change is the 1951 amendments which enacted after the Second World War. The atrocities of the war were most effective on the aboriginal people in Canada. Another change on the Act was Bill C-31 and gender discrimination which aimed to minimize gender bias. According to Johnson, treaties were the instruments that gave Europeans the rights to share resources, build relationships and settle among the natives. He discussed issues of justice system, political divisions, reconciliation law and reconciliation among

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Ancient chinese civilization - Essay Example From the novel The Three Kingdoms, we see that the Chinese society around that period greatly valued loyalty as a strong virtue that bounded together two or more people who had the same ambitions and mission. Loyalty was so important during this age such that there were vows which were cited either in secrecy or at a very serene place. The first instance when loyalty was displayed was when the three brothers came together in fraternity to bind themselves in a code of honor that greatly guided their future actions and also kept them strong even when they were on the brink of dying. The oath was a very important symbol of unity and loyalty to one another as their words suggested i.e. â€Å"we three Lui Pei, Kuan Yu and Chang Fei, though of separate birth, now bind ourselves in brotherhood, combining our strength and purpose to relive the present crisis (Lo Kuan-Chung & Moss Roberts, page 9)†. Loyalty was basically what the leadership in China was based on. Every leader throughout the novel, the three kingdoms, demanded that of all their subjects as there was always an imminent attack on them by those who were dissatisfied by the leadership. We see those loyal to the throne being treated well and showered with gifts so that they continue being loyal and expose those they suspected of disloyalty. Disloyalty was a serious offence not tolerable in the Chinese society during this period and any slight sign of disloyalty normally led to nothing less than execution. This punishment as if not severe enough, would be followed by the execution of the ‘traitor’s’ whole house hold. There are many cases where this was evident, for instance in the case where Ts’ao Ts’ao realized of the plot to kill him, he first apprehended Ping and tortured him for days. Thereafter he went on to arrest the other six conspirators, including Tung Cheng. They were all executed together with their household (women and children alike) bringing the

John Edwards (Redeployment in Iraq) Essay Example | Topics and Well Written Essays - 1500 words

John Edwards (Redeployment in Iraq) - Essay Example A recent survey finds two in three Democrats believe the war is already lost and a serious criticism about the adventure of America's war against terrorism in Iraq is evident from the public side as well.1 President George W. Bush started the U.S.-Iraq War, led by the United States against the regime of Saddam Hussein, the authoritarian leader of Iraq in 2003. He explained that the goals of the war were to "disarm Iraq [and] to free its people." The initial reports of CIA and the Pentagon had demonstrated that Iraq possessed nuclear weapons of mass destruction (WMD) and these weapons were a serious threat to the world peace. But, after the Saddam regime has been overthrown and Saddam crucified, there is still no evidence of any such weapons of mass destruction and the public now doubts whether the goals stated by the Bush administration were really true or there were some other intentions that caused to start a war in the name of fight against terrorism and which has proved futile and fruitless. Over the years, more than 2,400 American military personnel have been killed and 18,000 wounded. The financial losses of this war are also dismal with more than $300 billion having been spent in this war and yet the war has not made the United States safer as promised to the American people. That is why; the people now are demanding immediate withdrawal of the American forces from Iraq. Among the advocates of withdrawal, there are the Democrats like John Deutch and Republicans like William Buckley.2 The Problem: From the above surveys, I can conclude that the majority of Americans does not believe in the success, intentions and goals of the U.S. - Iraq war. Besides the public opinion, there are some statistics that show the Bush Administration is not only suffering criticism on its policies, the Bush Administration's mistake in Iraq - invading for the wrong reasons and without enough troops to secure the country - have left the United States with no good options. The prolonged deployment of U.S ground forces in Iraq has resulted in increased suicide terrorism and the Iraq people now see the United States as an occupier rather than a savior. The invasion and occupation of Iraq has made terrorist threat worse than before. And coupled with Bush's disdain for managing shifting geopolitical balances to create a stable strategic environment in the Middle East, the Iraq War has weakened America's regional position in multiple ways.3 Thus, I would like to draw your attention about the actual problem that has caused a setback for the United States. From the facts mentioned above, it seems clear that the prolonged deployment of the American troops has negatively impacted the overall performance of the personnel at other fronts like Afghanistan and the probable action against Iran. Since the previous year, Al-Qaida has re-organized itself in Afghanistan and has gained control over many strategically important places. Similarly, there is instability in the bordering areas of Afghanistan and Pakistan where suicide attacks on the forces have become a common phenomenon and these attacks have negative psychological affects demoralizing the personnel deployed in the country. The war in Iraq has in fact caused the virtual isolation of the United States in the International community and the earlier supporters of the

Assignment Example | Topics and Well Written Essays - 250 words - 46

Assignment Example Compared to average gross earnings, the cost of Russian labor continues to grow at a very high rate, it has been the strongest at 20% and over, due to which industrial production and exports had declined significantly towards the end of 2008. (Rapid increase of labour costs in Central and Eastern Europe in 2008) According to the Pew Research Center poll, many Russians believe that they were better off in terms of their economic well being under the communism because even though democracy promised them an equal distribution of poverty, that has not been the case. Ordinary citizens believes that democracy has been beneficent for elites, educated and the political leaders and it has had little or adverse affect on ordinary people. Hence, the negative perception that prevails among is that those who belong to the rural, old and the average citizens are behind the privileged, educated elite, which was not the case in a communist regime. (End of Communism Cheered but Now with More Reservations) "End of Communism Cheered but Now with More Reservations." 2 November 2009. Pew Global Attitudes Project. 7 October 2010 . Lazzaro, Joseph. "Russia cuts off all natural gas to Ukraine; Europe shortages may spread." 7 January 2009. Blogging Stocks. 7 October 2010

John Edwards (Redeployment in Iraq) Essay Example | Topics and Well Written Essays - 1500 words

John Edwards (Redeployment in Iraq) - Essay Example A recent survey finds two in three Democrats believe the war is already lost and a serious criticism about the adventure of America's war against terrorism in Iraq is evident from the public side as well.1 President George W. Bush started the U.S.-Iraq War, led by the United States against the regime of Saddam Hussein, the authoritarian leader of Iraq in 2003. He explained that the goals of the war were to "disarm Iraq [and] to free its people." The initial reports of CIA and the Pentagon had demonstrated that Iraq possessed nuclear weapons of mass destruction (WMD) and these weapons were a serious threat to the world peace. But, after the Saddam regime has been overthrown and Saddam crucified, there is still no evidence of any such weapons of mass destruction and the public now doubts whether the goals stated by the Bush administration were really true or there were some other intentions that caused to start a war in the name of fight against terrorism and which has proved futile and fruitless. Over the years, more than 2,400 American military personnel have been killed and 18,000 wounded. The financial losses of this war are also dismal with more than $300 billion having been spent in this war and yet the war has not made the United States safer as promised to the American people. That is why; the people now are demanding immediate withdrawal of the American forces from Iraq. Among the advocates of withdrawal, there are the Democrats like John Deutch and Republicans like William Buckley.2 The Problem: From the above surveys, I can conclude that the majority of Americans does not believe in the success, intentions and goals of the U.S. - Iraq war. Besides the public opinion, there are some statistics that show the Bush Administration is not only suffering criticism on its policies, the Bush Administration's mistake in Iraq - invading for the wrong reasons and without enough troops to secure the country - have left the United States with no good options. The prolonged deployment of U.S ground forces in Iraq has resulted in increased suicide terrorism and the Iraq people now see the United States as an occupier rather than a savior. The invasion and occupation of Iraq has made terrorist threat worse than before. And coupled with Bush's disdain for managing shifting geopolitical balances to create a stable strategic environment in the Middle East, the Iraq War has weakened America's regional position in multiple ways.3 Thus, I would like to draw your attention about the actual problem that has caused a setback for the United States. From the facts mentioned above, it seems clear that the prolonged deployment of the American troops has negatively impacted the overall performance of the personnel at other fronts like Afghanistan and the probable action against Iran. Since the previous year, Al-Qaida has re-organized itself in Afghanistan and has gained control over many strategically important places. Similarly, there is instability in the bordering areas of Afghanistan and Pakistan where suicide attacks on the forces have become a common phenomenon and these attacks have negative psychological affects demoralizing the personnel deployed in the country. The war in Iraq has in fact caused the virtual isolation of the United States in the International community and the earlier supporters of the

A Report on the High Cost of College Education in America Essay

A Report on the High Cost of College Education in America - Essay Example 9 October, 10, 2011. Dr. Morgan Bill Joint University students’ union Washington, CO 456007 Dear Mr. Houston: The union is submitting this report, due October, 10, 2011, that was requested by the education ministry. The report is entitled the High cost of College Education in America. The purpose of the report is to inform the stake holders in the education sector on the high cost of college tuition in America which has become a source of discouragement for students who would like to have a high level of Education. It further emphasizes on the need work on the lowering of the cost of college tuition. The content of this report centers on the price of college education which is not equivalent to future salaries and is not worth all loans and credits acquired to fund education. Any questions concerning this report can be sought by contacting Mr. Morgan Bill, the union secretary, at 453-6897. Very truly yours, Morgan Bill, Secretary General. Executive summary The cost of college education in America has over years increasingly gone too high. High tuition fee charges in colleges is now proving to be the biggest problem facing college students, parents and sponsors. In this hard economic time, students and parents are now struggling a lot sourcing for funds to meet this high cost of tuition fee. This has ranged from sourcing school loans from banks and including selling of property assets to fund education. This trend has negatively impacted on the concerned parties to an extent where students have almost lost hope for a better future. One very strong negative impact that has so far been noticed is the discouragement it has had on the students undertaking various courses in various universities. It is quite clear from studies conducted by this team that on completion of college education individuals who graduate hardly get well-paying jobs that match the cost incurred while in college. Moreover, a greater percentage of the little money earned from these jobs end up being used to repay the loans that were borrowed during school days leaving a minimal percentage for investment. This therefore renders a larger population of the newly employed and young hustling for their entire life. From these insights it is therefore paramount to consider the cry of the large young population and consider a thorough review of the entire fee payment systems in colleges with intent of lowering its cost for the benefit of the future generation. Methodology A sampled group of about 40 students from sampled universities and colleges in the United States of America were interviewed with a view of getting background information from the affected groups. Similarly, various employees who had just completed training was sampled and interviewed. The method selected aimed at collecting data that will enable the researchers identify the problem and propose potential solutions. Findings The cost of college tuition for many colleges has over time become so expensive. T he price for college studies has neither equated the future salary of those taking the courses nor has it equal the loans and many credits being spent on tuition fees. It is therefore imperative to present this report as a means of passing a message of discontent and outcry facing parents and students who pay dearly to get valuable education (Heller, 2001). The biggest problem for millions of people living in America while joining a college or university is

Legal Ethics Assignment Essay Example for Free

Legal Ethics Assignment Essay 1. Food and Drug Administration. This agency and proposed regulation interests me because since it is something that has become popular in the recent years and that it affects many people in the united states and in the world today. Yes, many people in the gaming industry smoke on a regular basics. It will not affect the business directly; just the workers in the industry. 2. The proposal is a consideration of applicable approval mechanisms and additional indications for nicotine replacement therapies (NRTs), and input on a report to Congress examining the regulation and development of innovative products and treatments for tobacco dependence. In more basic terms it is trying to get tobacco dependent treatments or mechanisms, such as electronic cigarettes, a chance to be officially approved by the FDA. 3. Six months after most people purchased e-cigarettes, 31% of these smokers said theyd quit cigarettes and two-thirds of them said theyd cut back on the number of cigarettes they smoked. A third of those whod quit smoking also quit using e-cigarettes. But E-cigarettes have not been tested for efficacy and safety. Additionally, they are produced overseas with little oversight to ensure good manufacturing practices. To regulate this product identified chemicals and quantities that is used in this product, release pros and cons for this product, and put a warning label on the product about the risk of addiction to nicotine. I wish to accomplish in my comment was to help the FDA is that there is pros in the use of E-cigarettes. Also, that the use of E-cigarettes is a lower and healthier risk then the use of regular tobacco cigarettes. 4. The deadline was Jan 16, 2013. 5.   a. Private citizens, government officials, industry representatives, businesspeople, and corporations can all send in comments based on provided proposed regulation during the public comment period. Anyone who wishes to challenge the validity of a federal regulation after it becomes law must participate in the comment period and voice his or her concerns at that time. Some agencies hold public hearings on proposed regulations. The purpose of the hearings is to take input on the proposals and consider additional evidence and consider additional evidence and factors relevant in promulgating the final version of the rule.† Business: Its Legal, Ethical, and Global Environment, 9th Edition. b. 1) Arbitrary and Capricious. Standard for challenging administrative agency rules; used to show decisions or rules were not based on sufficient. 2) Substantial Evidence Test. Basis for challenging the action of an administrative agency on the grounds that the rule promulgated was not based on enough evidence. 3) Failure to comply with the Administrative Procedures Act requirements of notice, publication, and public comment or input. The procedures for rulemaking must be followed in order for the regulatory process, and the resulting rules, to be valid. 4) Constitutional challenge. The regulation is unconstitutional. Dealing with regulations giving an agency authority to search records, or impose discriminatory requirements for licensing professionals. 5) Ultra Vires. Action taken beyond the scope of authority; with federal agencies, action taken that is beyond the congressional authority given in the enabling statute. c. From five legal theories, I would use Substantial Evidence Test to challenge this proposed regulation of not ban the use of electronic cigarettes. I choose this theory is based on the fact that there is enough evidence to prove that electronic cigarettes will not do the same damage to human as real cigarettes do. Because electronic cigarettes contain different chemical other than liquid nicotine, there is enough research to prove that other chemical will not affect people’s health, meaning electronic cigarettes are still a healthy alternative of cigarettes. Also, companies that manufacture electronic cigarettes claim their products do not contain carcinogens or tar or produce secondhand smoke, should be the first concern of making this regulation.

Consumer Behavior: Multi Level Marketing

Consumer Behavior: Multi Level Marketing Consumer is considered as the core element which decides the exiting of a business firm. They are the ones who buy and use products and services (Longman Dictionary of Contemporary English). Understanding consumer behaviors, consumer buying process and factors affect consumer buying behavior which may bring number of benefits is one of the most important tasks confronting every competing business. That is why companies spend such a lot of money in understanding behaviors of their consumers. This study aims to identify perceptions and key factors affecting to consumer behavior towards multi-level marketing companies and their products so that marketers can adapt and improve their marketing campaigns and marketing strategies to more effectively reach the consumer. PROBLEM STATEMENT Direct selling business has a history of dozens of years in the world and nearly ten years of operation in Vietnam market and more than four years from the issuance of Law on Competition (2004) and Decree 110 on Multi-level Marketing Management, it is still very difficult for distributors of multi-level marketing companies to sell products or to invite people to collaborate with them as an independent business owner of the company because of negative perceptions of consumers on direct selling companies and their products. This makes things to be very difficult for doing this kind of business in Vietnam. In addition, together with the entrance of many new comers into Vietnam market in recent years, the competition in the industry becomes not as harsh as ever before. Being recognized as born in the late 1800s when traveling salesmen created trained sales organizations with hundred of salesmen to sell various products in America, direct selling is considered as a dynamic and vibrant industry offering employment to more than 62 million independent sales representatives. According to data from World Foundation of Direct Selling Association (WFDSA), worldwide retail sales by its members accounted for more than US$114 billion in 2007. Although direct selling industry has a long history and obtained very good results with a great potential of growth, as consideration of many experts, it is not easy for direct selling companies to enter a new market and gain the good perception of local consumers. In Vietnam, direct selling appeared ten years ago (in 2000) but there still are very negative perceptions of consumers on this kind of business and its products. This makes things seem to be very difficult for doing this kind of business in Vietnam. RESEARCH OBJECTIVES: Primarily, this study aims to take a general picture of perceptions of consumer towards multi-level marketing companies and their products in relation to the factors that effect consumers buying decision. The main problem is to find out what the most important factors consumers have in mind when buying or not buying products and/or agreeing or refusing to become a distributor of a multi-level marketing company. Specifically, the research objectives include the followings: To define the current situation of multi-level marketing business in Vietnam; To identify factors that have influence on the consumer behavior towards multi-level marketing business in Vietnam; To describe the behaviors of consumers in HCMC and Mekong Delta toward multi-level marketing; To recommend solutions for increasing good perceptions of consumer for marketer working in multi-level marketing enterprises. THE SCOPE AND LIMITATION OF RESEARCH STUDY: The research just focuses on studying the literature of the consumer behavior, and the survey is conducted only in Ho Chi Minh City the economic hub of the South, and some rural areas in Mekong Delta region such as: Tien Giang, Can Tho and Ca Mau provinces which represent rural areas in the South of the country. Consumer behaviors of such regions may not represent the general behaviors of consumers nationwide. Due to the lack of official data of multi-level marketing industry and difficulty of getting the confidential internal business data from multi-level marketing companies, the data used in this research may not be sufficient enough. Besides, due of the limitation of time and money, the survey shall be carried out only with small sample size. THE POSITION OF THE RESEARCH COMPARED TO THE AVAILABLE KNOWLEDGE AND FORMER WORKS Multi-level marketing or direct selling is till a very young industry in Vietnam. There is no former research or survey on this business so far. There are so many vague understandings about the industry in the perceptions of Vietnamese consumers. Hence, it is expected that this research will contribute a very first premise for further study for a general picture of multi-level marketing industry in Vietnam market. THE RELEVANCE OF THE RESEARCH: The author of this report is now working as Mekong Delta Regional Sales Supervisor in Amway Vietnam Company Limited, a worlds leading multi-level marketing company. Therefore, it is feasible for me to carry the survey, collect data and have enough information for making analysis. THE RESEARCH METHODOLOGY: This is a combination of quantitative and qualitative research approaches, the research will access all potential sources and means to collect data and information such as: collection and synthesis of secondary data, questionnaire design and pilot survey to ensure the maximum clarity and effectiveness of the questions, face-to-face interviews using questionnaire, online survey using questionnaire and meeting with some experts or stakeholders of multi-level marketing companies. CHAPTER I: LITERATURE REVIEW 1.1 Definition of consumer behavior: Consumer behavior is The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society. The action a person takes in purchasing and using products and services, including the mental and social processes that precede and follow these actions. The behavioral sciences help answer questions such as: why people choose one product or brand over another; how they make these choices, and how companies use this knowledge to provide value to consumers. Belch and Belch define consumer behavior as the process and activities people engage in when searching for, selecting, purchasing, using, evaluating, and disposing of products and services so as to satisfy their needs and desires. 1.2 Consumer behavior and marketing mix: 1.3 Types of consumer decisions: 1.3.1 Habitual decision making: Habitual decision making involves no decision as such. Habitual decisions occur when there is very low involvement with the purchase and result in repeat purchasing behavior. A completely habitual decision does not even include consideration of the do-not-purchase alternative. Noticing that the product or service is needed will cause the consumer to purchase some of the same one in the next visit to such product or service supplier. The consumer will not even consider the possibilities of not replacing the product or service or purchasing another brand. 1.3.2 Limited decision making: Limited decision making covers the middle ground between habitual decision making and extended decision making. In its simplest form, limited decision making is very similar to habitual decision making. No other alternative may be considered, except, possibly, a very limited examination of a do-not-buy option. Limited decision making also occurs in response to some emotional or environmental needs. Consumers may also evaluate a purchase in terms of the actual or anticipated behavior of others. 1.3.3 Extended decision making: Extended decision making is the response to a very high level of purchase involvement. An extensive internal and external information search is followed by a complex evaluation of multiple alternatives. After the purchase, uncertainty about its correctness is likely and a thorough evaluation of the purchase will take place. Relatively few consumer decisions reach this extreme level of complexity. However, products such as cars, houses and personal computers are frequently purchased as a result of extended decision making. 1.4 Consumer purchase decision process: The purchase decision process is the stages a buyer passes through in making choices about which products and services to buy which includes five stages which are: problem recognition, information search, alternative evaluation, purchase decision and post-purchase behavior. Post-purchase behavior: Value in consumption or use Purchase decision: Buying value Evaluation of alternatives: Assessing value Information search: Seeking value Problem recognition: Perceiving a need 1.4.1 Problem recognition: The consumer decision process begins with the recognition that a problem exits. The recognition of a problem is the result of a discrepancy between a desired state and an actual state which is sufficient to arouse and activate the decision process. Without recognition of a problem, there is no need for a consumer decision. If the consumer resolves the problem by recalling one satisfactory solution and purchasing that product or service without an evaluation, this is termed habitual decision making. Many consumer purchases, particularly of frequently purchased items, such as detergents, soft drink and petrol, are of this nature. Other problems may be resolved by recalling several potential solutions and choosing from among them, perhaps using some additional information, such as current prices. A great many consumer purchases are the results of such limited decision making. Problems that require thorough information searches, both internal and external, the evaluation of several alternatives along several dimensions, and considerable post-purchase evaluation, result in extended decision making. 1.4.2 Information search: Once the problem has been recognized, an information search is undertaken to isolate an effective solution. The information search may be extensive, very brief or somewhere between. 1.4.3 Evaluation of alternatives: After the information has been gathered, which allows the consumer to determine and compare the relevant and feasible alternatives, the decision can be made. 1.4.4 Purchase decision : 1.4.5 Post-purchase behavior: Post-purchase behavior is a process occurs after purchase or acquisition: use, evaluation, disposal and repurchase behavior. These reflect the satisfaction of the consumers relating to the usage of such product and/or service. Consumer satisfaction is influenced by product performance, the purchasing process and consumer expectations. 1.5 Major factors influencing buying behavior: 1.5.1 Internal influences: Perception: Perception is critical to the decision process and is also an internal phenomenon that is highly influenced by the internal influences. Perception is also influenced by external factors such as variety of groups, situations and marketing efforts. Learning and memory: The result of learning is memory and memory also has an influence on the learning process. There are two kinds of memory which are short-term and long-term ones which relate memory to brand image and product positioning. Motives, personality and emotion: Motives are the forces that initiate and direct consumer behavior. Motives may be either physiologically or psychologically based. In developed countries, most consumer behavior is guided by psychological motives. While motives direct behavior towards objectives, personality relates to characteristic patterns of behavior: personality is generally considered to reflect a consistent pattern of responses to a variety of situations, although the role played by the situation itself must also be recognized. Emotions are the feelings or affective responses to situations, products, advertisements and so forth. They affect information processing and preferences, and are becoming of increasing interest to marketers. Attitudes: Attitudes are formed out of the interrelationship between personal experience and lifestyle and the factors that help shape lifestyles. Attitudes are composed of three components which are cognitive, affective and behavioral. 1.5.2 External influences: Demographics and lifestyles The household Reference group Social status Culture Values 1.6 Attitude: 1.6.1 The three components of attitude: Beliefs: cognitive component of consumer attitude Affect: emotive component of consumer attitude Intention: behavioral intention component of consumer attitude Beliefs: Cognitive component of Consumer Attitude A consumer belief is a psychological association between a product, brand, outlet, action, etc. and an attribute or feature (and associated benefits) of such: Beliefs are cognitive (based on knowledge, experience, perception, etc.) The stronger the association of features or attributes (and association benefits) with the products, brand, outlet, action, etc., the stronger the consumers belief Brand equity is a measure of the strength of the association in the marketplace. Strategies to change consumer beliefs: Positioning by: product attributes, consumer benefits, intangible attributes, price, application, brand user, celebrity recognition, brand personality, product category, association with competitors country or geographic area, etc. 1.6.2 The Fishbein models: Affective responses to a brand consist of: The strength or weakness of a consumers beliefs about the brand and its attributes; The consumers evaluation of or feelings toward those attributes. Where: A = Attitude towards a brand Bi = Belief that the brand possesses attribute i Ei = Evaluation or desirability of attribute i I = Attribute 1,2, à ¢Ã¢â€š ¬Ã‚ ¦, m The Fishbein Model Belief-important Model Theory of Reasoned Action Theory of Trying Theory of Planned Behavior CHAPTER II: RESEARCH METHODOLOGY 2.1 Methods of studying consumer behavior: Qualitative research is a method of inquiry appropriated in many different academic disciplines, traditionally in the social sciences, but also in market research and further contexts. Qualitative researchers aim to gather an in-depth understanding of human behavior and the reasons that govern such behavior. The qualitative method investigates the why and how of decision making, not just what, when, where. Hence, smaller but focused samples are more often needed, rather than large samples. 2.2 Sources of information: 2.2.1 Internal information: 2.2.2 External information: Two problems the commonly arise with secondary data are they do not completely fit the problem and they are not totally accurate. 2.3 Data collection: 2.2.1 Primary data: 2.2.2 Secondary data: 2.4 Data analysis: CHAPTER III: INTRODUCTION OF DIRECT SELLING BUSINESS Definition of direct selling: The concept of direct selling is based upon person-to-person relationships. The seller goes to the consumer rather than the consumer go to a shop. In todays fast changing society, where more people work and shopping patterns have altered, this type of shopping not only provides consumers with accessibility to a wide range of products but is also convenient. 2.2 Benefits of direct selling: 2.2.1 Benefits from distributor edge: Direct selling offers opportunity for individuals who want to earn an income and build a business of their own. It offers an alternative to traditional employment for those who desire a flexible income earning opportunity to supplement their household income, or whose responsibilities or circumstances do not allow for regular part-time or full time employment. The cost for an individual to start an independent direct selling business is typically very low. This means it provides benefits for investors to avoid a significant risk of loss. This also means anyone can do it. Opportunities are offered to any ones who desire, particularly to those cannot or harshly compete for a job opportunity. There are no required levels of education, experience, financial resources or physical condition in direct selling. People of all ages and from all backgrounds have succeeded in direct selling. Usually, a modestly priced sales kit is all that is required for one to get started, and there is little or no required inventory or other cash commitments to begin. Direct selling can provide to distributors a good way to meet and socialize with people. For those who want to achieve a success based on the level of their efforts, direct selling is a good way. Set your own goals and determine yourself how to reach them since earning is in proportion to your own efforts. The level of success you can achieve is limited only by your willingness to work hard. Moreover, distributors can receive training and support from other distributors who works with them, and from the company they counter. 2.2.2 Benefits from consumer edge: Consumers benefit from direct selling because of the convenience and service it provides, including personal demonstration and explanation of products, home delivery, and generous satisfaction guarantees and serves consumers with a convenient source of quality products. 2.2.3 Benefits from enterprise edge: Direct selling provides a channel of distribution for companies with innovative or distinctive products not readily available in traditional retail stores, or who cannot afford to compete with the enormous advertising and promotion costs associated with gaining space on retail shelves. Direct selling enhances the retail distribution infrastructure of the economy. 2.3 Types of direct sellings compensation plan: 2.3.1 Single-level compensation plan: Single level compensation plan means a representative/distributor is compensated based solely on ones own product sales. 2.3.2 Multi-level compensation plan: In a multilevel compensation plan, distributors are compensated based not only on ones own product sales, but on the product sales of ones down-line. Multilevel marketing is an important component of the Direct Selling industry. It is also referred to as network marketing, structure marketing or multilevel direct selling, and has proven over many years to be a highly successful and effective method of compensating direct sellers for the marketing and distribution of products and services directly to consumers. Differences between multilevel marketing and pyramid scheme: 2.4.1 Multilevel Marketing model: Multilevel marketing is a popular way of retailing in which consumer products are sold, not in stores by sales clerks, but by independent businessmen and women (called distributors), usually in customers homes. As a distributor you can set your own hours and earn money by selling consumer products supplied by an established company. In a multilevel structure you can also build and manage your own sales-force by recruiting, motivating, supplying and training others to sell those products. Your compensation then includes a percentage of the sales of your entire sales group as well as earnings on your own sales to retail customers. This opportunity has made multilevel marketing an attractive way of starting a business with comparatively little money. And the most important statement should be emphasized is that multilevel marketing is a legitimate income opportunity for everybody. Anyone can do it. 2.4.2 Pyramid scheme: Pyramid schemes are illegal scams in which large numbers of people at the bottom of the pyramid pay money to a few people at the top. Each new participant pays for the chance to advance to the top and profit from payments of others who might join later. For example, to join, you might have to pay anywhere from a small investment to thousands of dollars. In this example, $1,000 buys a position in one of the boxes on the bottom level. $500 of your money goes to the person in the box directly above you, and the other $500 goes to the person at the top of the pyramid, the promoter. If all the boxes on the chart fill up with participants, the promoter will collect $16,000, and you and the others on the bottom level will each be $1,000 poorer. When the promoter has been paid off, his box is removed and the second level becomes the top or payoff level. Only then do the two people on the second level begin to profit. To pay off these two, 32 empty boxes are added at the bottom, and the search for new participants continues. Each time a level rises to the top, a new level must be added to the bottom, each one twice as large as the one before. If enough new participants join, you and the other 15 players in your level may make it to the top. However, in order for you to collect your payoffs, 512 people would have to be recruited, half of them losing $1,000 each. Of course, the pyramid may collapse long before you reach the top. In order for everyone in a pyramid scheme to profit, there would have to be a never-ending supply of new participants. In reality, however, the supply of participants is limited, and each new level of participants has less chance of recruiting others and a greater chance of losing money. A closer inspection of a pyramid schemes so called products typically reveals that they have no real market value. This is because the products are often gimmicks such as certificates, spurious training programs or magazine subscriptions, illusory discounts, or over-priced and under-performing miracle treatments and the like. Recruits are often obliged to invest in large quantities of these products with no realistic prospect of marketing them to actual consumers (or returning them for credit). Their investments, however, generate substantial income for the promoter who enticed them into the scheme. 2.4.2 Differences between lawful multi-level marketing model and illegal pyramid schemes: The following factors differentiate illegal pyramids from lawful direct selling businesses: Legitimate direct selling companies offer a genuine business opportunity based on the sale of quality products to consumers. They routinely offer consumers satisfaction guarantees or cancellation rights so that the consumer may return the product for replacement or refund if the consumer is dissatisfied. Pyramids schemes have no such commercially viable product sales base. Legitimate direct selling companies strongly discourage overstocking of inventory and provide participants leaving the plan with an opportunity to return any unused, salable merchandise to the company for a refund of not less than 90% of the salespersons net cost. In contrast, pyramid schemes often encourage or require large stocks of non-refundable inventory and disappointed scheme participants are then left with stock which they can neither sell nor return. Legitimate direct selling opportunities may be taken up with minimal start-up costs and little or no inventory investment. Even modest entry fees may be refundable if the new direct seller decides not to pursue the opportunity. Conversely, pyramid selling schemes often require high entry fees and/or substantial investment in inventory, and neither are refundable. This is because pyramid operators make their money from new recruits to their schemes. The sales and marketing plans of credible direct selling companies are based on the progressive recognition and reward of direct sellers for the development of a customer base for consumption of the companys products. The development and stability of a direct sellers business is dependent on satisfied consumers and fairly remunerated direct selling network members. Pyramid schemes, on the other hand, offer get-rich-quick schemes to induce participants to buy ground-floor or leadership positions. In pyramid selling schemes there is no viable, long-term business opportunity. Unfortunately, some potentially fraudulent schemes will claim to offer a multilevel marketing opportunity, but in fact are simply recruiting schemes in which people must make substantial investments in order to participate. CHAPTER IV: OVERVIEW OF DIRECT SELLING INDUSTRY IN VIETNAM 4.1 Overview of Vietnam direct selling market: 4.1.1 History: 4.2.2 Market size: 4.1.2 Market growth: 4.1.3 SWOT analysis: 4.2 Players of direct selling: 4.3 Distribution channel of direct selling: 4.4 Legal framework for direct selling: 4.5 Leading enterprises: 4.6 What managers thought about perspectives of direct selling in Vietnam? In 2008 the retail industry in Vietnam saw very strong expansion in terms of outlets in both grocery and on-grocery channels. Huge investment by local retailers was poured into the market in order to capitalise on available good locations before Vietnam fully opens its retail industry to foreign investors in 2009. Penetration from foreign retailers was also more fierce compared with 2007. International investors such as Wellcome Supermarket, Best Denki and Lotte Mart, among others, all obtained the requisite license. Local retailers prepared for the foreign invasion by providing better service, improving product quality and implementing more marketing activities and cooperation between local brands. Non-store retailing remained a niche of the overall retail industry. The main product category remained cosmetics and toiletries. Non-store retailing was not yet strong enough to influence manufacturers or other retail formatsà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. Non-store retailing still needs to educate consumers and increase consumer awareness. (Euromonitor Retailing Vietnam 2009) CHAPTER V: SURVEY RESULTS CONSUMER BEHAVIOR OF CONSUMERS IN HO CHI MINH CITY AND MEKONG DELTA 5.1 Overview of respondents: 5.2 Descriptive analysis: CHAPTER VI: KEY FINDINGS AND RECOMMENDATIONS Key findings and recommendations: CONCLUSIONS: