The Rule Breakers of Yore

William Shakespeare and Mary Shelley are two prolific writers during their own time. Shakespeare was known for his countless plays like Othello, which tackled a variety of subjects, some touching delicate moral, social, and political issues (Miller n. p). On the other hand, Mary Shelley, a young woman who ran off with the young poet Percy Shelley was the author of a famous horror story called Frankenstein (Hamberg n. p). Both of these writers wrote stories of what may be considered as rule breakers of their time.Since Othello is a play by nature, there were only a few parts that are narrated. The main character Othello was an innocent victim of crude lies made by Iago, the envious villain. Most of the events that took place in the story were the effect of the twisted plan of Iago. People like Cassio, and Roderigo were manipulated according to Iago’s whim resulting to a tragic ending (Shakespeare and Sanders). This Shakespearean narrative proved to be a rule breaker indeed as a ll the elements therein point. The main character, Othello, was a moor in Venice, the country’s center of Christianity.Instead of putting a Christian at the point from which events should revolve, Shakespeare used a moor to represent how much hypocrisy that a Christian is capable of. This was of great importance because during the period when Shakespeare wrote the play, Christianity was stagnant and people were calling out for reforms (Muhlberger n. p) In the play, though the Christian characters were supposed to be portrayed as righteous and covetous, there were depicted as lying men who tried to get what they wanted at the expense of others.They were selfish and greedy, and were even willing to take another person’s life. This was a critical part of the play as it portrayed the city’s religion as one having anomalies and hidden controversies (Muhlberger). Another point that shows the defiance of this play was that a moor was not a very common site in Europe in reality during those days. But in the play, the moor was even a servant to the duke of Venice. He was even more affluent as compared to the other Italian characters (Cummings n. p).On the other hand, Mary Shelley’s Frankenstein also proved to rival the deviance of Shakespeare’s play. It was a story about a man, Victor Frankenstein, who created a hideous creature out of spare human parts from slaughtered houses and dissecting clinics. As did the Othello play of Shakespeare, Shelley’s story ended tragically with the main character and the subject of his torment dead (Hamberg n. p). The story strayed in deviance from the norms as it used a story where a man tried to play God by creating a man from chunks of flesh and parts sewn together.Using electricity, he was said to have breathed life into it. This was a form of disrespect because during that time, death was considered as a sacred event. Whether of Anglican or Protestant religion, people exerted all possible e fforts to produce a grand funeral for their dead. The dead were lavishly dressed, placed in elegant coffins and buried in cemeteries with the most beautiful tombstones or mausoleums (Alirangues n. p).Shelley was brave to have characterized a being out of stolen parts of the dead in a time when the dead seemed more important than those who were living. However, this was not yet the most defiant feat of her story as also during those times, in reality, Science and religion had such harmony that in creating a being through science was a form of sacrilege that may utterly destroy the harmony of the two subjects. This has almost been the case of Shakespeare’s Othello (Fyfe n. ).Given such, it may be concluded that the works by two of the most famous authors in history are indeed rule breakers in their own right, and in their own time. Whether they have created the narratives for the purposes of satire or to show the people harsh realities, they have successfully weaved literature treasures that are remembered not only because they were masterfully done, but because they have dared to break away from the norms in the subtlest yet very striking way.

Edsa Revolution Essay

Good day tourists! I’m ziel your tour guide for today and now where going to explore and see the beauty of the â€Å"resort province of the Philippines† welcome to LAGUNA!!! The Province of Laguna, which was formerly called La Laguna, was named after Laguna de Bay, the body of water that forms its northern boundary. Laguna de Bay, in turn, was named after the town of Bay (Laguna de Bay is Spanish which means â€Å"Lake of Bay†), the first provincial capital. Laguna (Tagalog: Lalawigan ng Laguna), is a province of the Philippines found in the CALABARZON region in Luzon. Its capital is Santa Cruz . Laguna hugs the southern shores of Laguna de Bay, the largest lake in the country. Laguna is notable as the birthplace of Jose Rizal, the country’s national hero. There’s a lot of famous attractions like , the hot spring resorts of Los Baà ±os and Calamba on the slopes of Mount Makiling, Pila historic town plaza, Taytay Falls in Majayjay, the Hidden Valley Springs in Calauan and of course the most famous waterfalls in the philiphines PAGSANJAN FALLS!! The main falls is actually located within the boundaries of Cavinti, Laguna but access by boat originates from the town of Pagsanjan. A move by the ruling body of the town of Cavinti was submitted to the Sangguniang Bayan. Pagsanjan Falls is probably the most famous natural attraction in Laguna. However, it is actually located in Cavinti, an adjacent town to Pagsanjan, and the falls’ indigenous name is Magdapio Falls. Pagsanjan, Laguna is the jump-off point to Pagsanjan Falls. You may rent a banca or small boat to take you to the falls or â€Å"shoot the rapids.† The standard rate is about PhP 800-1000 pesos per person which includes the round-trip boat ride, entrance fees, and use of life vests. Be prepared to shell out extra for tips to boatmen; although there is a standard rate for the boat ride, you are expected to give extra tip to the boatmen, about PhP 200 per person (according to tourists who already went there). Skilled and accredited boatmen will take you on a scenic boat ride at Magdapio River in order to reach the main falls, the famous Pagsanjan Falls. They used to be wooden bancas, but nowadays, the boats are made of fiberglass. On the way, you will be treated to the sight of other minor falls (approximately 20 of them), lush vegetation, and natural rock formations. Some say that monkeys occassionally appear and they throw branches or rocks to people, so you better wear a helmet just in case. Once you reach the main falls, you can take a raft ride through the falls and get a natural â€Å"back massage.† You can also explore the Devil’s Cave behind the falls, famous for its reverberating echoes. For the raft ride, you have to pay an extra PhP 90 and tip the boatmen. The highlight of this trip is the rapid descent downstream or what is known as â€Å"shooting the rapids'†. Be prepared for the thrill of a lifetime as the expert boatmen manuever the boat skillfully through turbulent waters. It is interesting to know that a boatman is required to undergo a rigid six-month training in order to acquire a license/accreditation for guiding tourists on the ride to the falls. Bangkero is a Tagalog term given to those whose job provides a means of transportation on the river using a â€Å"bangka† (boat). The â€Å"Pagsanjan Bangkero Festival† is held every first week of March and it features exciting events on water and land like the â€Å"palarong bangkero† (fluvial parade and exhibitions), street dancing, drum and lyre band competition, chorale fest, cultural night, trade fair, sports events among others. The ‘Pagsanjan Bangkero Festival’ is inspired by and dedicated to all the bangkeros (boatmen) in Pagsanjan.. These boatmen impress one with his skill and dexterity in maneuvering his boat upstream â€Å"against wild rapids and amids a pristine panorama of lush, virgin forest.† Aside from its amazing tourist’s destinations, Laguna is also known for its delicacies and appetizing food products. Almost every town has its own particular product with its distinct taste that is mainly raised in the town. Here is a list of the delicacies to look for when you happen to pass by or visit Laguna. Buko pie is a famous delicacy of Los Baà ±os town in Laguna province. Mer-Nel’s chocolate cake is the favorite cake in Los Baà ±os, Laguna. The cake is moist and light, while the icing is sweet chocolate with a hint of milk. Kesong puti or white cheese is widely produced in Santa Cruz, Laguna, and the town of its origin. Monay is widely available in local bakeries but the monay in Bay, Laguna is deliciously different. Espasol (rice pudding) is a native Filipino sweet treat made from rice flour and coconut strips cooked in coconut milk. The cooked pudding is shaped into cylinders and then rolled into toasted rice flour. It is believed that espasol originated from Laguna, Philippines. Uraro or arrowroot cookies are popular in Laguna province. These cookies are delicate and powdery, and feel dry on the mouth like puto seko (although puto seko is much drier). Usually, uraro is shaped into flowers and wrapped in a thin paper called â€Å"papel de hapon.† Bibingka. There are are many versions of bibingka in the Philippines but when you are in Laguna, the bibingka of Pagsanjan is the must-try delicacy. Just like the adobo which has many versions, there are many variants of bibingka (or rice cake) in the Philippines. But when you are in Laguna, the bibingka of Pagsanjan is the must-try delicacy. The typical ingredients of bibingka are rice flour, coconut milk and eggs usually topped with grated coconut, salted egg or white cheese. But Pagsanjan’s bibingka does not have any of these toppings at all; it may look simple but it really tastes delicious as it is. The traditional way of cooking bibingka is rather interesting. Instead of the typical gas or electric oven, a clay pot is used; banana leaves are used to line the clay pot and hot coals are put below and on top of the clay pot in order to cook the bibingka batter. So what are you waiting for? Visit Laguna and try these delicious and mouth-watering foods that you’ll surely love.

Common stock evaluation Essay Example | Topics and Well Written Essays - 500 words

Common stock evaluation - Essay Example Stock valuation also enables potential investors gauge the performance and value of stock in the securities market. Establishing the worth of shares helps one make informed investment decision. The managers use this valuation in the analysis of the worth of their business. This information is also useful to creditors in gauging the credit worthiness of a company before advancing credit (Hoover, 2005). This method values the share price by use of forecasted dividends and discounting them. When the figure obtained from the DDM is higher to value of shares presently trading then the stock is considered undervalued (Hoover, 2005). The anticipated earnings price (E/P) ratio is the measure of the firm’s cost of equity. A stock calculated on the zero-growth model can vary in value when the capitalization rate varies as it viewed risk changes (Hoover, 2005). The constant-growth method is essential in valuing stock of stable companies with dividends rising steadily over time. This model estimates an intrinsic stock value stock using the average dividend growth and forecasting it to dividend rises. The denominator remains the same when the rate of capitalization and dividend growth remains unchanged yearly. The stock’s basic value rises per annum by the proportion of the rise in dividend. Both the share price and the dividend amount will rise by the steady -growth factor, g. The model considers only the quantitative and not the qualitative values. Future changes are ignored in calculations.  This model is unfavorable for firms and market with quick changing dividend

Shaft design features Lab Report Example | Topics and Well Written Essays - 750 words

Shaft design features - Lab Report Example There are different designs of shafts made each day for specific machines, but most of them will not lack the identified features (Shingley, 2006). Keyway: This is a part of a system in a shaft known as a keyed joint. It comprises of the key, the key seat and the keyway. The key is used for connecting the shaft to the rotating machine and preventing relative rotation between the two. For the key to function, the rotating machine and the shaft must have a key seat and a keyway, which are the pocket and the slot in which the key fits in. Designers argue that the keyway weakens the torsional strength of the shaft since it is mostly on one side of the shaft and has sharp corners. Retaining rings: These are used during the assembling of a machine in joining the elements. They are precision engineered components applied on shafts and bores to provide a shoulder for the positioning, locating and retaining the other parts of the machine to the shaft. The two major types of retaining rings are the internal and the external retaining rings. The internal retaining rings are the rings for bores since the ring fits inside of a hole or bore. The external retaining rings are the ones for shafts since they are installed on the outside part of the shaft. The rings could be installed in axial installation, which is along the axis of the shaft or radial installation, which offers quicker assembly processes and larger clearance diameters as compared to the former. Bearings: These machine elements allow the components of a certain machine to move with respect to each other. Bearings could be found in small machines like watches and also in big machines such as skyscrapers, allowing them to move in case of an earthquake. The bearings are very important elements as without them, all machines would grind to a halt. They could either be contact or non-contact. Contact type

Cellular Microbiology Essay Example | Topics and Well Written Essays - 2000 words

Cellular Microbiology - Essay Example (Institute of Materials, Great Britain, P. 223) The importance is far reaching, from environmental O2 /CO2 balance to the synthesis of artificial herbicides that act on unwanted herbs by blocking some important steps in this energy producing process. The chlorophyll pigment alone has lead to new avenues for thoughts and research on the importance of photosynthetic processes and has paved the way for the synthesis of certain medicinal drugs exploiting its photoprotective mechanisms for preventing light induced damage of cells. The chlorophyll research has added to the significance of this novel energy yielding life process and has led to the foundation of drug therapy for treatment of tumors, carcinoma and related maladies. In fact the earliest forms of photosynthetic plants principally inhabited the water bodies, especially in the warm mineral rich pools, mainly due to the intense effect of ultraviolet radiation on the land due to the absence of the ozone layer. Instead of oxidizing, with a highly reducing nature of environment, principally due to the sparse oxygen count, the warm pools full of evolving life forms probably utilized the massive energy resource to convert the simple inorganic compounds to complex organic biomolecules, like, purines, pyrimidines, nucleosides, nucleotides, etc, paving the way for the synthesis of nucleic acids and complex proteins and enzymes. (Pearson, P. 10) This definitely potentiated the production of biomolecules required oxygen production. As the oxygen level in the atmosphere increased slowly with the passage of time, plants reached out and slowly colonized the lands progressively transforming their semi-aquatic habitats to terrestrial by nature. With the evolution of the earliest microbes that resembled cyanobacteria, algae and lichens till the further differentiated poikilohydric bryophytes evolved. About 25 million years ago, these non vascular bryophytes were soon followed with vascular homioihydric plants capable of maintaining their internal water content at an optimum level irrespective of the external environmental conditions. However before the origin of these photosynthesizing life forms the challengingly low levels of atmospheric oxygen as hypothesized by the geologists, required an explanation of unknown factors that increased the atmospheric oxygen count at a considerable extent. This unknown process of oxygen accumulation in the atmosphere through an unexplained time gap of hundred million years can be associated with a number of presumable theories each of which has its own investigational platform. "The red line shows the inferred level of atmospheric oxygen bounded by the constraints imposed by the proxy record of atmospheric oxygen variation over Earth's history. The signature of mass-independent sulphur-isotope behaviour sets an upper limit for oxygen levels before 2.45 billion years ago and a lower limit after that time. The record of oxidative weathering after 2.45 billion years ago sets a lower limit for oxygen levels at 1% of PAL, whereas an upper limit of 40% of PAL is inferred from the evidence for anoxic oceans during the Proterozoic. The tighter bounds on atmospheric oxygen from 420 million years ago to the present is set by the fairly continuous

Racial Diversity Essay Example | Topics and Well Written Essays - 1250 words

Racial Diversity - Essay Example The main aim of this report is to understand using a real life company, the different kinds of discriminations that employees face at work, the make up of the group i.e. the racial make up of the group, the existing problems and issues and the solutions used by management to resolve the issues. The company chosen for this research is Wal Mart. The next section will deal with a brief about Wal Mart and a little about the employees. Wal Mart is the biggest retailers in the world. Wal – Mart has wide operations spread across 14 markets, 7390 Wal – Mart stores. They company employees over 2 million associates. It is the largest employer in America. The company claims to give importance to the employee’s growth and careers. The company’s website claims to provide the employees with a competitive pay, skills development and health benefits for the employee and family. Articles and studies have shown that the company pays employees a salary which is way below the poverty line and employees have confessed that they cannot live out of the pay received from Wal – Mart alone. The average hours worked by employees is around 40 hours a week. However the pay received is very low and for some of the employees it is just enough to live out of a Dodge truck (Greenhouse, 2005). A study showed that even though employees were given hikes in salary they did not really benefit from the hikes. Wal – Mart has instituted a new payment method. The company has placed a range for every job level and once an employee reaches the top of the pay range, the salary freezes and chances of pay increase is completely eliminated. The promotion system is also very poor and employees working for almost 13-14 years in the company and have not been promoted (Gogoi, 2006). Wal Mart’s main vision for the company is to become leading retailers in the world. The

Courtroom player Essay Example | Topics and Well Written Essays - 500 words

Courtroom player - Essay Example It is no doubt that a judge is a key figure in the courtroom; the two opposing parties in a case usually come before a judge to present their cases. The judge gives both sides the opportunity to present their version of the facts relevant to the case at hand. The judges oversee the trial and make legal decisions which may arise. In addition, they sentence convicted criminal offenders in the case of criminal cases, and make decisions regarding the outcomes of civil cases and the appropriate remedy (Arizona Supreme Court, 2010). The general responsibilities of the judges and how they perform them often raises the ethic and moral questions; the decisions that they make always border on some ethic and moral issues. Since the concept of ethics and morals are central to judges, most jurisdictions have provided ethical and moral codes that should guide the judges (Kay, 1995). That notwithstanding, judges are faced with several legal and ethical issues. The first ethical and moral issue that judges face is the issue of fairness and justice. Judges are required to make decisions that are fair and just. As such, they should use their discretion and abilities to achieve this by ensuring that every proceeding is fair and the subsequent decisions are just as fair and just. In other words, both parties should at the end be satisfied with the decision, or at least see that justice has been done. The second ethical and moral issue that the judges face is that of public confidence. Courts all over the world are considered as the places that uphold the highest level of justice, fairness and equality (Kay, 1995). This explains why individuals who are aggrieved by others use court as the last resort to seek justice, remedy, and fairness. However, factors such as historical injustices in the courts, nepotism, and corruption can greatly dent the perception that the public have about the courts. Therefore, it is very critical for judges to mainta in public confidence

The Surrealist movement Research Paper Example | Topics and Well Written Essays - 750 words

The Surrealist movement - Research Paper Example The essay "The Surrealist movement" analyzes surrealism. Unlike the romantics, the surrealists believed that they could find revelations on the street and in daily life. The ideas of the Surrealist with regard to the subconscious mind, their interests in primitivism and myth shaped the concepts adopted by the Abstract Expressionists. Salvador Dali, a surrealist painter, was born in Figueras, Catalonia-Spain in 1904. He studied art in different parts of Spain and mastered the effortless adaptation of various styles into his repertoire. As a teenager, he became fascinated with the concepts and ideals of psychologist Sigmund Freud. He liked how the subconscious mind and artistic works linked. This caused him to focus greatly heavily on his art content. He was also influenced by the works of the Paris Surrealists who painted from the subconscious mind with no definitive purpose in mind of how the outcome of the work should be. The Persistence of Memory is arguably one of the most famous works of Dali which he painted in 1931 while a relatively young man. The painting depicts a number of pocket watches that are detached from their chains, slowly melting on a tree branch and on rocks. It is quite deceptive to the eye because the scene is a fantasy that is placed in a lifelike setting of the ocean. The main aspect portrayed by the painting is that objects known to be hard become inexplicably limp in the dreamscape. This has been interpreted to mean that things that appear strong and purposeful always reach a point.

Creating Shared Value Essay Example | Topics and Well Written Essays - 500 words

Creating Shared Value - Essay Example The concept of shared values focuses on the societal needs and not only the conventional economic needs, but the societal needs harms and weaknesses that create the costs for the firm through the energy wasted, accidents, and raw materials. Therefore, shared value does not emphasize on personal values or sharing the values that are developed by the firm or a redistribution approach, though it is an expansion of the entire field of economic and social value. On the other hand, roots of the shared values requires that the competitiveness of a company to and the community health to be closely interrelated. Therefore, there is a need for a successful community, which does not entail the creation of demand, but provision of critical public assets. The article explains that share value can be created through establishment of economic and societal value. In fact, the process of creating share value involves three distinct ways. These efforts involve preconceiving products and markets, redefinition of efficiency in the value chain and establishing accommodating industry at the location of companies. In fact, the concept of shared value applies in resetting the boundaries of capitalism, through a connection of companies’ effort to improve the society, and developing the ways for serving their needs and markets. The article covers the roles of the entrepreneurs since their venture are not considered the only way of seeking a profitable remedy to problems in the society. Therefore, entrepreneurs have the responsibility of introducing new products that are meeting the societal needs through business models. However, there are implications of creating shared values to the government since its principles are focusing on separation that exists between the business responsibilities and government or civil society. An organization that understands the significance of productivity and creation of value can have substantial implication to the government. In

Comparing the Fall of Han China and Roman Empire Essay Example for Free

Comparing the Fall of Han China and Roman Empire Essay Han China and Rome were two of the most powerful and popular empires of their time, but they fell like any other empire before them. Han China and Rome’s Empires had the same causes for their declines, but their effects are different. The major reasons for the fall of Rome are truly those that have to do with Romes political and economic state. One of the Rome’s problems prior to its fall was the lack of respect for authority, among the citizens and military forces. All the attacks from the barbarians caused problems in the military. This basically led to a lot of political turmoil because of all the chaos that was born, and it started to make the military crumble as well. Romes economy started to go downhill too, after a long period of time, especially because of the gold. The Romans started using gold (coins) and because of that the trade shortage of the eastern regions of the Empire served to block the growth of wealth in the west. The major reasons for Han China Empire’s fall were also because of their economic and political problems, but the effects are different. One of Han China’s problems was the uprising of desperate and hungry peasants. Another problem was their lack of authority to the Han government, which caused the economic problem. The Han Empire was being invaded by nomads, which were also known as barbarians. These barbarians kept invading the empire and made them have to keep fighting, and provide military forces. This worsened the economy and Han finances. Han government had to hire foreign soldiers who only wanted to be paid for their services which made the economy even worse.

Okun Law Unemployment

Okun Law Unemployment Okun Law Unemployment Okun’s Law; an Empirical Test across Countries Abstract Okun’s Law postulates an inverse relationship between the change in the unemployment rate and the difference between actual and potential real output. The relation has proven to be an influential empirical framework in supply-side economics. This paper sets out to empirically test whether or not Okun’s Law holds and how it varies across the UK, US and Japan during the time period 1976-2006. The quarterly data sets are analysed via both OLS Regression estimations over the whole sample period and Rolling Regression estimations over 18 separate subsamples, with the view to infer how stable the relationship has been over the last 30 years. The reasons for these changes and the implications these results can have for policymakers and labour markets are also briefly discussed. In addition, we find that the unemployment rate responds asymmetrically to expansions and contractions in output when the business cycle is considered. There is a considerable amount of evidence that su pports Okun’s Law usefulness as an empirical relationship. Okun’s Law is defined as the ‘relationship between the change in the unemployment rate and the difference between actual and potential real output’. The relationship has had a substantial influence in macroeconomics in so far that the Law is widely used in macro-models as well as providing the theoretical building blocks to contribute to other empirical relationships such as the Aggregate Supply curve and the Phillips Curve. For this reason, Okun’s Law is an important feature of supply-side economics. Okun’s Law also gives policymakers and economists’ an indication of how the economy is performing in regard to both the labour market and the goods market. Furthermore, central banks, primarily monetary policy, use Okun’s Law as a forecasting tool to predict changes in the structure of the economy and aid in the decision-making process. Its effectiveness as a tool is somewhat contentious, since the relation is designed to be utilised as a benchmark or guideline to judge the performance of the economy against, rather than as a stringent policy rule. Additionally, the relationship is frequently used to achieve an optimal growth rate (without adverse effects on the unemployment rate) as well as more significantly measuring the cost of high unemployment which is regarded as both socially undesirable and a waste of human capital. This study specifically attempts to test, using the dynamic version of Okun’s Law, whether or not the relationship holds in the UK, US and Japan and how the relationship varies across these countries over the period 1976-2006. This will be tested via OLS regression analysis. The central research question of this study is to infer from the results how stable the relation i.e. Okun’s Law been over the last 30 years for the UK, US and Japan? This will effectively captured by the sensitivity of unemployment changes when output growth deviates from its equilibrium level, namely the Okun coefficient (The ÃŽ ² term in the relation). Most papers assume a symmetric relationship between output and unemployment. As a secondary objective of the study, an attempt will be made to test whether or not Okun’s Law characterises an asymmetric relationship, in so far that expansions and contractions in output have a different absolute effect on changes in the unemployment rate, an issue pursued by many authors in the forthcoming literature. In addition, the results can be used to interpret to what extent policymakers can predict the performance of output and unemployment in an economy hence the usefulness of Okun’s Law as a forecasting tool, once instability of the relation is taken into account. Overview The study proceeds as follows; Section 1 presents a theoretical background to the Okun’s Law and its significance as an empirical relationship. Section 2 presents a review of the existing empirical literature on Okun’s Law along with discussion of any relevant omissions and contradictions of the respective authors’ findings. Section 3 uses Blanchard (1998) methodology as a basis for the construction of Okun’s Law as well as providing the necessary explanations of the variables used in the model, version of the relation used. The methods of data collection and the limitations of the methodology employed will also be stated. Section 4 presents some preliminary data analysis including descriptive statistics, tests for Stationarity, Heteroskedasticity, Serial Correlation and Chow Test for structural stability. Section 5 presents the empirical results and the subsequent analysis of the techniques used to interpret Okun’s Law. Namely, OLS Regression Analysis over the whole period, Rolling Regressions, Stability Tests, and Dummy Variable analysis based on its use in the model and how the empirical results integrate with the subject matter raised in the literature. The implications of the empirical results for macroeconomic policymakers, the goods and the labour market are also briefly discussed. Section 6 presents a judgement on the overall findings from the analysis of the data as well as providing a critical appraisal of Okun’s Law and its usefulness as an empirical relation across countries. In addition, potential recommendations will be discussed in the context of how the study and/or the model can be improved for further research. Background Theory Okun’s Law – the inverse relationship between unemployment and output is regarded as ‘’one of the most reliable empirical regularities of macroeconomics’’. In recent times, there has been a considerable amount of research into the empirical significance of Okun’s Law. Policymakers are interested in sustaining output growth and achieving a low unemployment rate and the relationship is seen as a fairly good indication of economic performance. The type of unemployment that will prevail depends on how labour supply and demand evolve over time and is the prime reason why Okun’s coefficient has reduced over time. The lack of empirical testing in this area is a major limitation of reliable Okun coefficients. In 1962, Arthur Okun, an American economist, formulated and interpreted this relationship. He suggested a negative relationship between the change in the unemployment rate and the growth of real output. Many economists till this day, view Okun’s Law to be a very useful relation in assessing macroeconomic performance. Okun estimated that in the US; output growth of 3% below equilibrium for one year, leads to an increase in the unemployment rate of one percentage point (reverse case also applies). However, more recent studies have shown that in fact, a 1% increase in output leads to a reduction in the unemployment rate by 2%. The simplicity of Okun’s Law, involving the use of fundamental economic variables (output and unemployment) makes it a striking empirical relationship to study. However, there are a number of forms or versions that Okun’s Law can take. The predominant versions of Okun’s Law are; the difference version, the dynamic version, the gap version and the production-function version. This study will use the dynamic version of Okun’s Law since it is widely used by economists as well as taking into account deviation of output from some equilibrium level, which ultimately creates a more plausible investigation. Although the magnitude of the decrease seems to be declining and with widespread acceptance of the relationship being pervasive, structural differences in an economy’s product and labour markets coupled with the difficulty that national governments face in managing the economy, highlights the need to rigorously investigate Okun’s Law still further. Literature Review This section examines the existing empirical literature concerning Okun’s Law and the most significant findings. The purpose of this section in particular is to evaluate the usefulness of Okun’s Law as an empirical relation against a number of criteria. Additional focus will be placed on how the relationship varies across both differing time periods and different countries as well as the techniques used in the literature. Using the original formulation of Okun’s Law Equation (1) Blanchard (1998) estimated the relation across both countries and time. The time periods the author used were 1960-2003. (1960-1980 and 1981-2003). The author estimated the coefficient for the United States, the UK, Germany and Japan. According to the reports, as expected, the law does hold in all of these countries. The econometric techniques used by Blanchard in constructing these results involve the use of standard regression analysis. It was brought to our attention that the US had the highest response (-0.39), whilst Japan the lowest (-0.12). This is in part explained by the differences in structure within each country’s respective labour markets. The study made 2 plausible yet restrictive assumptions. The first being that ‘’Output moved one for one with employment’’. This is an important point to note since economic theory suggests that an expansion in an economy’s output, ceteris paribus (an increase in productive capacity) will require an equal increase in the amount of labour (workers) needed to produce that additional output. The second assumption is that of ‘’A constant labour force’’. This assumption follows on from the first in that changes in employment are reflected in opposite changes in unemployment. A major critique of these assumptions is the fact that in absolute terms, the rise/fall in the unemployment rate may not be proportional to the rise/fall in the employment rate due to labour force participation. Blanchard also brought to our attention that in the Medium Run the relationship may differ due to both equilibrium values of output and unemployment returning to their natural levels. This adjustment of the variables means that certain macroeconomic policies cannot influence output growth or unemployment rates. However, earlier formulations assumed any increase or decrease in the unemployment rate relative to the rate of output growth to be in equal absolute proportions. The revised equation (below) rectifies this simplistic assumption by involving the actual deviation of output growth from its equilibrium, where the Beta coefficient measures the responsiveness of unemployment rate changes to deviations of output from equilibrium output. Ut Ut-1 = -ÃŽ ² (gyt – Ä y) (1) Potential Rate of Output Growth Unemployment rate at t-1 periods Output Growth at t periods Unemployment rate at t periods Beta/Impact Coefficient Sogner, L and Stiassny, A, (2000) investigated Okun’s Law for 15 OECD countries to deduce whether structural instability originates from the demand or supply-side of the economy. The Keynesian viewpoint was found to hold little empirical validity in contrast to that of the neoclassical one. This is in part down to the ‘’assumption of fixed prices and wages.’’ This is unrealistic to assume particularly in a world where inflation is everywhere a monetary phenomenon. Although firms do change their output plans according to changes in growth, both changes in wages and prices will determine the underlying unemployment rate and any estimates based on such assumptions will derive incorrect results. Economic agents expect certain activities to occur in the future based on either past or current activities. The most crucial finding of this paper is that the persistence in the unemployment is strongest in countries that have a highly protected labour market. A lthough this is inconclusive in contrast to other studies, it implies to a certain extent that variations in real output only have a small effect on employment levels which needs to be accounted for especially when revisions of the relation are considered. Most Okun’s Law stipulations tend to assume a symmetric relationship between unemployment and output growth. In other words, output growth for instance produces the same absolute effect on unemployment. Harris and Silverstone (2000) managed to test this assumption using hypothesis tests for New Zealand over the period 1979-1999. They discovered that Okun’s Law does hold by means of regression analysis over this period. The most essential insight which can be extended across many countries if need be, is the Okun coefficient which they estimated based on their regression results. In New Zealand, ‘’a one percent change in output growth is associated with a 0.4% change in the unemployment rate.’’ This is in fact due to changes in labour force participation, labour hours and capital utilization. The strength of this particular study was the use of labour supply analysis which contributed in supporting Okun’s Law and its role on the supply s ide of the economy. The authors do however, wrongly assume a symmetric assumption throughout the paper and this is not plausible, especially in the long-run. Productivity gains and the structure of the labour market play a vital contribution to the outcome of any relationship between unemployment and output. Walterskirchen (1999) proposed this argument to his study. This particular study generates differing perspectives to those posed by both Harris and Silverstone (2000) and thus varies greatly in terms of empirical results. The author does support Blanchard’s view concerning the existence of a ‘’strong positive correlation between GDP growth and change in the employment rate.’’ However, the additional emphasis placed by Walterskirchen is that of productivity gains and labour supply and demand in the context of each country’s individual labour market. The fact that the author cites demographic influences as well as economic is vital to the building blocks of empirical results and whether or not they are consistent with economic theory. The author carried out this particular focus of the study thro ugh two predominant methods; Time-series data analysis for each individual EU country and cross-country data analysis for the period 1988-1998. In both methods there appears to be a strong negative correlation between output growth and the resulting change in the unemployment rate. Walterskirchen highlighted the difficulty in the calculation of potential output in order to estimate Okun’s Law and thus disregarded this method in his empirical analysis, focusing instead on the change in the rate of output and unemployment. He did however, attempt to correct another ambiguity in the fact that the relation overlooks the ‘’influence of investment activity and technical progress on labour productivity.’’ The results clearly show the rate of productivity to be approximately 2% in the EU, representing a constant figure. In times of high unemployment, Okun’s coefficient will tend to also be high (1980’s). In contrast, demographics explain the contribution of the rise in population growth on the employment rate. It was found that an increase in population growth puts considerable pressure on employment to increase and as a consequence labour productivity diminishes. This is relevant since ‘’employment will only grow if economic growth rates are outstripping productivity’’. This adds further weight to the claims of productivity on the supply-side of the economy and the role it plays in determining the rate of unemployment. ‘’The hi gher the Okun coefficient (usually 0.3 to 0.5), i.e., the elasticity of unemployment rates with respect to GDP growth, the better the chances for reducing unemployment through growth and demand policies’’. This aspect of the study is of great importance to policymakers. The author ensured that the significance of Okun’s Law at the government level is not disregarded and hence plays a role in the effectiveness of policy at the macro level. Schnabel (2002) investigated whether Okun’s Law can be used to derive estimates of trend output growth but more importantly to focus on whether to use the trend rates derived in constructing measures of the output gap. It is a key concept in the construction of Okun’s Law and the subsequent tests. The author pointed out the difficulties of estimating trend output, mostly in part to the numerous methods which can cause ‘’biases and problems of interpretation’’. This is regarded as a major flaw of Okun’s Law and Schnabel emphasizes this in his study. The interesting aspect of his econometric methods to test for the Okun coefficient was by use of Rolling Regressions for the G7 countries he intended to estimate. This technique aimed to test how the actual coefficients change or vary over time (many sample periods), in order to capture the dynamic changes which an economy undergoes over a shorter time horizon. The authors’ estimates i nvolve the G7 countries as well as the US, Japan and Canada, with each country’s coefficients being significantly different than those of the next. Schnabel found out that the full sample had similar coefficients with that of the sub sample. This indicates that the relationship was relatively stable and accurate with the actual rates providing a sound benchmark to be compared against. A remarkable addition to the overall model was using business cycle stages as measures against the obtained trend values. This allowed the author to test the significance of the coefficients within different stages of growth, recovery or depressions. This is directly attributable to the case of UK, which had robust coefficients of 2.2 for growth an estimate taken from the period 1980-1990. During the 1990’s labour market flexibility played vital a role in increasing participation rates within the labour market. This would suggest that as potential output grows, actual positive output grow th exists. This is not a viable view since cyclical unemployment is not constant in all countries. The author, from the results, cited that sophisticated econometric techniques by use of filters may produce more accurate results and less ‘’shifting of parameters which are not deemed to be constant’’. In addition, the trend rates obtained should ‘’not be interpreted as the rates of growth compatible with stable inflation’’. By introducing inflation into these estimates would complicate the estimations since such changes are reflected in the intensity of the business cycle, which the author correctly cites as a major limitation of his study. Harris and Silverstone (2001) in their second study examine how upturns and downturns have a direct impact on Okun’s Law. A test which detects how unemployment and output growth react (proportionally) to changes in the business cycle is known as Asymmetry. Earlier, Blanchard made the view that Okun’s Law is symmetrical and many economists make this wrong assumption. The adjustment process in the real world follows different paths and involves many complex factors. Both Harris and Silverstone appreciate the need to test for asymmetry and ignoring this would see the hypothesis that there exists an inverse relationship between output and unemployment rejected, as well as numerous forecasting errors being made in the decision making process that policymakers go through. Output growth (yt) was found to be weakly exogenous and this was true for all the OECD countries tested. Co integration Tests (were undertaken through Engle-Granger Two-Step method and Johansen Procedure) we re calculated by Harris and Silverstone in an attempt to observe how the coefficients differed asymmetrically when the phase of the business cycle was considered. It was discovered that adjustments to disequilibrium are not prevalent in the downturn phase of the business cycle but in the upturn phase they are more volatile due to the nature of both the goods and labour market which is consistent with economic theory. This is not the case for the UK and Japan since results indicated that they in fact move in opposite directions. Although, not explicitly stated the author manages to highlight the importance of this test as a benchmark for other relations such as the Philips Curve, AS curve and Taylor-Rule seemingly also strengthening the case for pursuing more in depth study of relationships and their responses in different countries. Kosfeld and Dreger (1992-2000) investigated the German Labour Market and their study stressed the notion that ‘’changes in production and employment are closely related’’. This gave rise to the Threshold concept, which in basic terms refers to there being a finite amount of capacity both in the economy and at firm-level. Any output growth above this specified capacity will tend to create new jobs and a fall in the unemployment rate over time. This serves as an important guideline to policymakers, albeit a different one to that specified by Walterskirchen. The thresholds in fact act as a determinant for both employment and unemployment. The authors’ application of Okun’s law is from both the demand and supply-side although Okun’s law is usually approached from the supply-side due to the operation of labour markets. Instead of supporting Walterskirchen’s view on demographics and other factors, the authors in this study believe that they in fact weaken the relationship. This arose due to the complexity of structural developments in the economy. The overall results followed on with the negative relationship between unemployment and output existing in Germany. However the unemployment benefit system in Germany led to employment and unemployment responding differently to changes in output. This response was detected in the 1990’s by a method known as spatial correlation equal to 0.2, which was regarded as relatively weak. This method is regarded as unsatisfactory since the results derived do not make a credible contribution to the study. Huang and Chang (2005) proposed to evaluate the empirical validity of Okun’s Law via structural change using the threshold approach in Canada. This supports Kosfeld’s and Dreger’s previous study. The empirical models used are far accurate than previous standard linear equations. This highlights the difficulty in conducting accurate Okun’s Law estimations. The study also takes into account the presence of serial correlation and this is embedded into the following autoregressive model; Uct = ÃŽ ±0 + ∑ ÃŽ ±i uct-i + ÃŽ ² yct + Єt In order to obtain both the unemployment rate and real output growth (GDP) the author has used the Hodrick-Prescott filter (HP) and the Band-Pass filter (BP). Both filters are widely used and results of the study show that Okun’s Law strongly holds, with results support the Law with high negative correlations of -0.7967 and -0.8062. However, the most crucial finding was that of a high Okun coefficient in the recession phase of the business cycle, this further supports Harris and Silverstone’s notion that cyclical output’s effect on cyclical unemployment is asymmetric. A high Beta coefficient acts as a signal to policymakers that unemployment is highly responsive to output gap deviations and thus provides a call for actions in the form of controlling the level of AD in the economy stimulating labour participation rates in the labour market. Weber, C.E (1995) study takes a similar direction to that of Huang and Chang however, the element is more specific and thus more precise. His purpose was to test Okun’s Law post-war USA, to see if the relationship has been stable after this period. The interesting aspect of this particular study is that there was an apparent oil shock in the 1970’s, which affects the supply-side of the economy. Weber focused on the periods both after and before the oil shock. The econometric method used for this test was predominantly OLS estimates via some from of Chow Test, using Dummy Variables (below); Uct = ÃŽ ±1yct + ÃŽ ±2Dtyct + ÃŽ µ1t The empirical results for the OLS estimations were -0.314 which surprisingly turned out to be close to Okun’s original estimate of -0.32. However, parameter constancy was rejected due to the high variation in the high t-statistic of -0.277 and –0.402. Weber did leave scope for further future developments with reference being made to the importance of the initial source of the shock (supply or demand) in the outcome of changes in cyclical unemployment/output. On the basis of the existing literature, it is clear to see that Okun’s Law does hold across a number of different countries and time periods. The ability to infer how stable the relationship is over both the long-run as well as the short-run proves vital in any empirical analysis undertaken. However, due to some of the components of the model being difficult to estimate as well as other factors such as productivity and inflation affecting output growth, doubts remain over the usefulness or reliability of Okun’s Law as a benchmark for policymakers. Research Methodology Modelling Economic Theory This sub section will provide the theoretical basis of Okun’s Law as well as the major underlying assumptions of the model. In addition, brief explanations of the techniques employed and the justification for their use will be included. Although, using almost the same methodology as Blanchard (1998) the estimates may vary considerably. Firstly, the most significant reason is that Blanchard (1998) tests Okun’s Law across a number of different countries including the G7 countries. This study looks predominantly at the UK, US and Japan with the emphasis being placed on the former. Secondly, both studies look at different time periods and different frequency of data. Blanchard (1998) tested the relationship from 1960-2003 using monthly data, while this study will test the relationship with a technique called rolling regressions, using quarterly data from 1976-2006, giving us a more up to date inspection of Okun’s Law. Another essential issue which could cause the results to differ is the estimation of potential output; needed to compute the output gap term in Okun’s Law. Although both studies use this variable, the technique used to measure potential output is different. (1) ΔUt = ÃŽ ² (yt – Ã… ·) (2) Re-arranging Ut = Ut-1 ÃŽ ² (yt – Ã… ·) Pre-Analysis of the Data Since specific data will be used to build an econometric model and test whether the model has theoretical validity, it is important to determine the properties of the variables in question. Description of Data To generate the model for Okun’s Law as well as test it for each country (UK, US, Japan) this study uses the 124 quarterly data points for the Unemployment Rate (%), Real GDP and Potential GDP (GDP) for the period 1976-2006. The latter two are used to compute the Output Gap term in Okun’s Law. To ensure reliability whilst contrasting and analysing time series data all the variables are logged. Shortcomings of the Data The estimation method of potential output is an approximate when generated from the Hodrick-Prescott Filter and thus the computation of the output gap term is not always accurate. Many authors use the Band-Pass Filter and this may lead to discrepancies of the estimations in this study. There may also be bias in the sample, since different countries use different measures to determine the unemployment rate. This study has used percentage unemployment as per the Claimant Count, Bureau of Labour Statistics and Statistics Bureau. Trend Analysis In Appendix A, a graphical account of each variable across the UK, US and Japan is given. It is apparent that over time Real GDP has an upward trend which indicates an expanding economy, at the general level. This study makes three crucial assumptions building on from similar assumptions made by Blanchard (1998). Firstly, we assume that changes in output lead to changes of equal magnitude with changes in employment levels. Secondly, we assume that firms adjust their employment levels in response to labour-productivity growth and this has no bearing on the rate of unemployment. In other words, higher induced labour-force participation rates do not have a detrimental impact of the rate of unemployment, ceteris paribus. Thirdly, we assume that output in the long-run will grow at its underlying rate. In other words y = Ã… · (In equilibrium as the trend rate suggests in Appendix A). The relationship being estimated is the one between the unemployment rate and real output. Equation (2) is essentially a dynamic version (short-run) version of Okun’s Law. The dynamic element stems from the fact that the economy adjusts towards equilibrium over time, hence the use of the output gap term (yt – Ã… ·t). The ÃŽ ² coefficient measures the responsiveness of unemployment changes to changes in output growth from equilibrium (which is denoted by a minus sign in Okun’s Law due to the inverse relationship it implies). The equation (2) provides the framework model which will be utilised throughout this study. Economic modelling proposes that Equation (2) is not plausible under the conditions of assuming that last years’ unemployment rate and potential output (natural rate of output) don’t change. I.e. are observed into the constant. To correct this we introduce lags into the model as well as assuming that potential output is absorbed into the c onstant. Under this new assumption the unemployment rate is derived from the unemployment rate in the previous period. The model thus becomes; (3) Ut = ÃŽ ²0 + ÃŽ ²1Ut-1 + ÃŽ ²2yt + ÃŽ µt In an expanding economy, real output increases at a stable rate, therefore putting pressure on the economy’s idle resources. Okun’s Law thus predicts that any increases in real output above some underlying trend coincide with falling unemployment. Additionally, potential output (Ã… ·t) is an unobservable variable. In order to derive Okun’s Law; an empirical estimation of potential output is needed. Potential output (Ã… ·t) is generated from the Hodrick-Prescott Filter function in EViews. (Appendix A). Potential output is regarded as the underlying trend rate of output. This effectively is the level of output that the economy would produce if it utilised all of its resources. In order to allow for this in the model for Okun’s Law we substitute the output gap term (yt – Ã… ·t) into yt from Equation (3). This yields the following; (4) Ut = ÃŽ ²0 + ÃŽ ²1 Ut-1 + ÃŽ ²2 (yt yt) + ÃŽ µt Policymakers are concerned with attaining explicit policy objectives and in order to achieve this they are interested in how the characteristics of a variable have changed over the course of time. In this study, the key variable examined is unemployment, whereby achieving a low unemployment rate is desirable; many national governments pursue this policy objective. The fundamental basis for Okun’s Law was discovering the cost of excessive unemployment to an economy when real output grows. In an ideal world, the rate of unemployment would be low and an economy’s growth rate to be expanding at a sustained level. Typically, unemployment is considerably unstable in the short run which is clear to see in the graphical representation (Appendix B) of the unemployment rates of the respective countries; The UK, US and Japan. The primary problem with running a regression over a whole sample period using time-series data is that the relationship does vary in the short-run sometimes more often than the variations in the long-

Beethoven :: essays research papers

BEETHOVEN   Ã‚  Ã‚  Ã‚  Ã‚  Ludwig van Beethoven was born 1770 in Bonn Germany. His mother was a singer in the service; his father was a court musician that had little motivation and a drinking problem. His father noticed that Beethoven had a gift at a young age, and began teaching him piano and violin. But Beethoven was a hard learner, he was self-involved and impatient. This probably led to why he was a loner and why he only went to academic school for three years. Beethoven’s father wasn’t the only one who saw Beethoven’s talent, Gottlob Neefe (a German Organist) become young Beethoven’s mentor. Gottlob thought Beethoven was the next Mozart, so he sent him to Vienna to meet him. But Beethoven’s mother got sick so he had to come back home before he met him formally. By the time he came back to Vienna, Mozart had died so Beethoven sought help from Hadyn, another German composer. He became Beethoven’s second mentor and taught him new styles of music. Beethoven did his first shows in Vienna in 1795. He was the first composer that was not supported by wealthy persons; instead Beethoven supported himself with money from selling his music. By 1778, Beethoven started hearing humming and whistling sound in his ears, and it got worse. A few years later, he became completely deaf. Although he was deaf he could still write music. He finished his first symphony in 1800. In 1802, Beethoven became depressed and thought a lot about suicide. He went to a small village in Germany where he stayed for a few years. The next couple of years Beethoven created his most impressing masterpieces. In 1812 he had completed over twelve of his best works and he was known worldwide. But after this Beethoven did not release any music for awhile and he got in trouble with the law over some royalties to songs. But in 1817 he began composing again and he did through 1824. In 1824 Beethoven composed two of his most memorable pieces, the Ninth Symphony, and Ode to Joy, these were two of Beethoven’s best compositions. The first time Beethoven conducted the Ninth Symphony, the crowd, at the end of it was at a tremendous applause. And Beethoven was still with his back turned on the podium until one of the â€Å"soloists† turned him around. In 1820 Beethoven won custody of his nephew Karl since his brother had

Unjust Classification of Literature :: essays research papers

The Unjust Classification of Literature   Ã‚  Ã‚  Ã‚  Ã‚  The content of literature has been criticized and classified throughout history. Occasionally, stories become known as immoral literature in the eyes of society. This can be damaging both to sales of the book and the reputation of the author. Kate Chopin wrote two stories that are examples of literature deemed immoral by society. â€Å"The storm† and â€Å"The Story of an Hour† were written and the end of the nineteenth century. A time without many liberal opinions towards literature, as well as civil rights. Often critics judge a piece of literature only on the literal meaning of the phrases inside, while ignoring the actual message from the author. Chopin’s two stories were criticized for the impression she gave of woman’s attitudes towards their husbands and marriage. Although her stories seem to contain women that do not respect marriage, the women actually have total love and respect for their husbands The misinterpretation of stor ies leads to the unjust classification of literature as immoral.   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"The story of an Hour† and â€Å"The Storm† have different plots, but both convey a similar message from Chopin. â€Å"The Story of an Hour† was written about a wife ,Mrs. Mallard, who receives the sad news of her husbands death. She is flushed with conflicting emotions of sadness from the death, but also joy for the freedom from marriage that his death brings. A twist in the story takes place when she is confronted with her still living husband and she dies from the shock. Chopin wrote of a woman so caught up in married life, she forgot all of the liberties that she had sacrificed for the marriage. â€Å"The storm† tells of another wife, Calixta, living what was a normal life for a woman in the late nineteenth century. While her husband and son are kept inside a store by a passing storm, Calixta is greeted unexpectedly by an old boyfriend, Alcee. Spending time with Alcee releases feelings from Calixta that had been building up thr oughout her marriage. Calixta and Alcee give in to temptation, but never lose their sight of love for their families. Both stories suggest women in marriages sometimes feel imprisoned by the relationship and seek an outlet for their emotions.   Ã‚  Ã‚  Ã‚  Ã‚  Marriage is a sacred bond and should always be honored. Infidelity is the worst act that can be perpetrated on a significant other. The wife, Calixta, betrayed her family and the church by cheating on them.

Segmentation of Mercedes

Table of Contents 1. 0 Situation Analysis/Current Marketing Mix†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 1. 1 Current Product†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 3 1. 2 Current Pricing†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 4 1. 3 Current Distribution†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4 1. 4 Current Promotion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 5 2. 0 Segmentation Theory†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 6 2. 1 Defining and Explaining Segmentation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 6 2. 2 Explaining Three Benefits of Mercedes-Benz Brand from using Segmentation †¦Ã¢â‚¬ ¦7 3. Target Market Identification†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 7 3. 1 Geographic Segmentation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 7 3. 2 Demographic Segmentation†¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 8 3. 3 Psychographic Segmentation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦8 3. 4 Behavioral Segmentation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 9 4. 0 Bibliography†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 20 Surname 3 1. 0 Situation Analysis/Current Marketing Mix 1. 1 Current Product Being a highly reputable brand globally, Mercedes-Benz has successfully penetrated in Singapore market.Presently, Mercedes-Benz C class has swiftly penetrated in the Singaporean luxury car market due to the prestige associated with the brand. Being a consumer product, Mercedes Class C has been characterized by high performance that accurately meets personal needs for active individuals through the superior brand name. Over the years, Mercedes Benz brand name has won global recognition, contributing to its popularity in Singaporean market. The various sub-models of Mercedes Benz Class C including C230, C240, C320 and C350 among others offer consumers with various luxurious services, besides mere travelling.It is important to note that, the ability of a core product to offer credible and other beneficial characteristics besides the core product utility enhances its propensity to acquire popularity among consumers1. In this regard, Mercedes Class C has been considered as of high quality level, having sophisticated features to enhance driving experiences, stylish in nature and having strong brand name. In Singapore luxury car market, it has been rep orted that 70% of customers enquiring about car are much interested in Mercedes Benz Class C. This is an indication that, much of their time is spent looking on the stylish nature of the product2.It has been observed that, most of these consumers looking for Mercedes Benz Class C don’t easily opt for other brands until they get it some other times when it is available. This is evidenced by the selling slogan of the product â€Å"Drive and Seek,† which aims at assuring the consumers ultimate performance of the product. More so, the prestigious nature of Mercedes Class C can be considered as a unique feature that has contributed to its popularity in Singapore. It has been observed that, Mercedes Benz Class C is multi-purpose, since it is still used in sports as well as for private outdoor traveling.It is vital to note that, the ability of a product to offer consumers with additional benefits besides the basic uses contributes to its popularity among consumers. By having more additional benefits than its 1 Richard, Semenik and Gary, Bamossy, Principles of Marketing: A Global Perspective (New York: Prentice Hall, 2005), 68. 2 Beng, Chua. Life is not Complete without Shopping: Consumption Culture in Singapore, (Singapore: Singapore University Press, 2003), 72. Surname 4 core competitors like BMW, Mercedes Benz Class C has penetrated well in Singaporean markets. 1. 2 Current PricingThe luxury car market in Singapore is an oligopoly competitive market, since there are few luxury car brands in the market. Being a superior brand in the market, Mercedes-Benz C-Class has efficiently penetrated in the Singapore market. This has been observed in the way this brand highly demanded, despite its high prices. Particularly, Mercedes Benz Class C pricing strategy is valuebased, considering the way consumers of this product have not been sensitive to the high prices for this product. It has also been observed that, increase in prices for Mercedes Benz Class C does n ot affect consumer demand.This is evidenced when prices for Mercedes Benz Class C 350 increased from ? 32580 in the year 2006 to ? 33130 in the year 2007, the total demand for the product remained undisturbed, constituting of about 30% of luxury demand in Singapore3. This shows how the superiority of the brand is not affected by price changes, since consumers have are highly loyal to the brand, despite competitors using various tactics to market their products. Customer loyalty for Mercedes Benz Class C is demonstrated in the way consumers in Singapore maintain the demand for the brand, despite its competitors lowering their prices.For instance, BMW is one of the core rivals of Mercedes Benz, whose tendency of reducing prices has not affected the demand for Mercedes Benz Class C. Particularly, the year 2007 saw BMW lower the prices of its luxury car models in Singapore in order to win more customers, a strategy which did not affect the demand for Mercedes Benz Class C4. This is an i ndication that, consumers tend to perceive the value of Mercedes Benz as being far much higher than the money they pay for.As a result, high level of customer loyalty has been prevalent for Mercedes Benz Class C in Singapore as a result of the outstanding features and prestigious nature of the luxury car brand. Considering that Mercedes Benz Class C is sophistically manufactured using highly costly resources, the strategy adopted by the brand in pricing the product is effective. Though Mercedes-Benz C-Class is an expensive car, its value among the consumers has made it acquire loyalty among the customers. 1. 3 Current Distribution 3 Leslie, Butterfield, Enduring Passion: Story of the Mercedes Benz Brand, (New York: Wiley Publishers, 2005), 36. Dennis, Adler, Mercedes Benz: First Gear, (London: Motorbooks, 2008), 46. Surname 5 Mercedes C-Class has been distributed using a variety of channels in Singapore. With some buyers opting for online orders, there are various selling points of the luxury car in Singapore. Among the various destination points for Mercedes Benz Class C includes the major attraction points in the island like Ion Sky, and Marina Bay Sand among others. More so, Mercedes Benz Class C has been distributed in Singapore through major exhibitions in the island like the Singapore Showroom, Titanic exhibition, MBS Countdown, and Elephant Parade among others.This has facilitated the distribution of the luxury cars to the people where they can view it and make purchases5. By having various points of sale for this product, high volume of sales has been experienced in this brand, since consumers find it easier to contact the sellers directly. Since customers are able to visit the show rooms and explore the vehicles directly, direct interactions between the brand’s representatives have facilitated brand popularity among the people of Singapore.Since Mercedes Benz Class C products are produced in Singapore, most of the sellers are company’s r epresentatives who act as sales agents. This makes the customers lack the opportunity of interacting directly with the manufacturers of the brand. With the advancement of e-commerce, many customers in Singapore have adopted online purchasing strategy for the Mercedes Benz Class C cars. Through online stores, Mercedes Company has been able to substantial customer base in Singapore6. Being a well developed country, many people use computers, making it easier for them to make most of their purchases online.Through the adoption of web video with interactive agent thriller as well as the company’s website, consumers have been able to know the products. After making online purchases the cars are shipped to the customers through the port of Singapore which handles various products from Europe and other parts of the world. Through the use of a blend of physical selling points and online marketing strategy, Mercedes Company has been able to distribute Mercedes Benz Class C cars to man y consumers in Singapore. 1. 4 Current PromotionCurrently, Mercedes Company adopts a variety of promotional platforms for Mercedes Benz Class C in Singapore. These platforms include internet portfolio, traditional print and cinema, which are 5 Paul, Leppert, Doing Business with Singapore: Global Business Series, (Washington, DC: Jain Pub Co. , 2000), 21. 6 Dennis, Adler, Mercedes Benz: First Gear, (London: Motorbooks, 2008), 41. Surname 6 reinforced with corporate social responsibility through integrated marketing communications. There various messages displayed on the promotional platforms for Mercedes Benz Class C which includes â€Å"Drive and Seek†, and â€Å"More Style per Hour†.All these promotional messages are available at the Mercedes Company’s website as core messages of persuading the customers to purchase the product. The message â€Å"Drive & Seek† has been passed on through this media, thus helping in marketing Mercedes Benz Class C. By adop ting this message, the company is guaranteeing its customers about the performance of the product. Online advertisement has been considered as key promotional platform adopted by the Mercedes Company in the sale of Mercedes Benz Class C in Singapore.With about 80 percent of Singapore’s society being able to access the internet at least daily, the use of web video advertisement by Mercedes-Benz has been found quite efficient7. Further, â€Å"More style per hour† is another promotional message adopted in the marketing of Mercedes Benz Class C in Singapore. This message has been widely available in the company’s marketing pamphlets, television ads and company’s websites. This message seeks to convince buyers that they will definitely experience outstanding prestige and stylish drive every time they use the product.With most of the consumers in Singapore being luxurious and prestigious in nature, this message has been found quite useful and accurate in meetin g the psychological needs of Singaporeans. The combination of these promotional messages has enhanced successful penetration of Mercedes Benz Class C in Singapore consumer market, while many consumers who have the product remaining very loyal to it8. 2. 0 Segmentation Theory 2. 1 Defining and Explaining Segmentation Segmentation is basically the identification and establishment of buyer/consumer subsets within a market.Notably, these groups of buyers demonstrate similar behaviors and needs. Despite the extensive and diverse nature of the global market, it should be noted that buyers have different behaviors and needs. With this in mind, marketers or businesses have to match groups of customers who have similar needs and behaviors. A point worthy of consideration is that each segment has 7 Leslie, Butterfield, Enduring Passion: Story of the Mercedes Benz Brand, (New York: Wiley Publishers, 2005), 33. 8 Philip Kotler, Marketing Places, (New York: McGraw Hill Press, 2001), 231. Surname 7 distinct needs and homogeneous characteristics.With this in mind, market stimulus and market intervention are used to address each segment9. Through segmentation, marketers are able to meet the specific needs of the particular customer base, by tailoring the products to meet the needs of such customers. 2. 2 Segmentation in Singapore for Mercedes-Benz Class C The market segmentation in the Singapore consumer market for Mercedes Benz Class C has been very useful in the way the company has been able to position the product more appropriately. The market segment aimed by this product is the middle age-group working class people who are educated.Particularly, Mercedes Benz Class C is meant for individuals who have achieved success in their early live and are having many ambitions in their endeavors. This is evidenced in their marketing messages which seem to concern active and well-up people seeking success in their various endeavors. For instance, ‘Drive & Seek’ is mean t to persuade active and successful individuals to seek more success through driving Mercedes Benz Class C10. With about 80% of the population aging between 18-49 years working, this segment has the potential to offer substantial market opportunity for Mercedes Benz Class C.More so, Mercedes Company targets young and well-up families. This is shown in the way Mercedes Benz Class C is specially tailored to accommodate a family while at various luxurious trips or excursions. As evidenced in the promotional message ‘more style per hour’ it is explicit that the company aims at meeting the needs of a family while traveling. Quite importantly, this segment comprises of large proportion in Singapore with about 48% of the population married, while the rest are children and youths11. As a result, there seems a potential market for this product in Singapore market. . 0 Target Market Identification 3. 1 Geographic Segmentation Singapore is a highly strategic and potential country for luxurious products like Mercedes- Benz C-Class. Precisely, Singapore is a small country which is highly urbanized. Since Mercedes Benz Class C requires flat and smooth terrain for outstanding performance, Singapore can be 9 Johan Arndt, Market Segmentation: Theoretical and Empirical Dimensions (New York: London, 2001), 38. 10 Dennis Adler, Mercedes Benz: First Gear, (London: Motorbooks, 2008), 38. 1 Paul Leppert, Doing Business with Singapore: Global Business Series, (Washington, DC: Jain Pub Co. , 2000), 43. Surname 8 considered as an ultimate geographical region for this product. Precisely, the urbanized nature of Singapore positions it adequately in terms of market for the Mercedes C-Class. Majority of the population being urban dwellers, they have found Mercedes-Benz C-Class very useful in meeting their needs12. It is also important to note that, Singapore is experiences tropical climate; rainy, humid and hot, which makes the country to remain ever green and agriculturally p otential.Though commercial farming is not commonly practiced, the people in Singapore have food security. These are key aspects with reference to the economic stability of the region, makes the region to offer potential purchasing power for luxury products like Mercedes Benz Class C. Besides the ability to buy, the physical environment has made the people of Singapore to associate themselves with superior products like Mercedes Benz Class C to match their conducive geographical features.The gently undulating and lowland terrain of Singapore enhances the need for Mercedes-Benz C-Class which has a high sense of comfort. 3. 2 Demographic Segmentation The demographics of Singapore can be considered as having the potential to offer potential market for luxury products like Mercedes Benz Class C. The population structure constituting many middle-aged people whom most of them are working offers potential market for luxurious cars like Mercedes Benz Class C. More so, about 40% of people liv ing in Singapore city are foreigners who have come to do business and white collar jobs.With about 76% of the people living in Singaporeans aging between 15-64 years, it is evident that most of the population is active, making it efficient for Mercedes Benz Class C which aims at active individuals and young families. Many of these people engage in economic activities which are industrial in nature like financial services provision, chemicals, electronics, construction and entrepot trade. With the population growth rate being estimated to be 1. 56 percent, there seems to be potential market for luxury products like Mercedes Benz Class C in Singapore throughout.It has also been observed that, high level of literacy in the country, which is about 90%, has played significant role in boosting the purchasing power of many Singaporeans. On this basis, it is evident that there is potential market for various segments aimed by Mercedes-Benz C-Class13 in Singapore. 12 Richard Vasil, Governing Singapore: Democracy and National Development (New York: Allen & Unwin, 2000), 96. 13 Leslie Butterfield, Enduring Passion: Story of the Mercedes Benz Brand, (New York: Wiley Publishers, 2005), 41 Surname 9 3. Psychographic Segmentation One of the target segment markets for Mercedes Benz Class C is highly ambitious middleaged working class. The luxurious lifestyle upheld by this group has been found effective when coupled with Mercedes-Benz C-Class as one of their luxury products. With most Singaporeans being active in their lives, they have been found quite suitable for being targeted as ultimate consumers for Mercedes-Benz C-Class. With this group being working, its purchasing power for luxury products like Mercedes-Benz C-Class has been guaranteed.It is also important to note that, the socio-economic status of the target market for Mercedes-Benz C-Class is high income earners who seek performance as their core values. As a result, such individuals would go for outstandingly perf orming products like Mercedes-Benz C-Class in their lives. In Singapore, the largest population consists of middle-aged people with modal age of 37 years. In this regard, it is evident that there is potential market for Mercedes-Benz C-Class for this market segment. The urban lifestyles of the population of Singapore also demonstrate the socioeconomic potential of the Singapore market14.As a result, it has been evident that Singapore population has potential market for the market segment with the psychographics associated with Mercedes Benz Class C luxury cars. 3. 4 Behavioral Segmentation The consumer behavior in Singapore has been demonstrated to be very admirable for the marketing processes of Mercedes-Benz C-Class. Since the brand name itself is globally acknowledged, it has been difficult for individuals who are used to the brand to switch to other luxury cars. Majority of the population are urban dwellers who are characterized with high sense of purchasing foreign and sophisti cated products15.Statistics have shown that, about 80% of Mercedes Benz Class C consumers are loyal to the brand in Singapore. This is evidenced in the way many golf playgrounds, which are associated with high class people, are associated with Mercedes Brand Name. This has been due to the sophistication and prestige associated with the product. Since the target market for this brand are also prestigious and luxuries, it has been hard for them to give up products which seems to embrace their core values like Mercedes Benz Class C16. This has 14 Paul Leppert, Doing Business with Singapore: Global Business Series, (Washington, DC: Jain Pub Co. 2000), 52 15 Richard Vasil, Governing Singapore: Democracy and National Development (New York: Allen & Unwin, 2000), 97. 16 Leslie Butterfield, Enduring Passion: Story of the Mercedes Benz Brand, (New York: Wiley Publishers, 2005), 55 Surname 10 adequately enhanced the potential of the population in purchasing the Mercedes-Benz C-Class. Generally , the high purchasing power of the target market for Mercedes Benz Class C in Singapore has facilitated high degree of loyalty to the product, since this product has been observed to embrace their personal and lifestyle needs.

Corporate Re-initiation as a Change-Management Program Essay

Corporate organizations have adopted a number of knighthood-based investitures as methods to infuse the delicate but significant management of change among their old/senior managers.   A number of published business reviews state that the Japanese and Danish shipping companies are known for their unique change management techniques through â€Å"initiations† or corporate â€Å"baptisms of fire†, where the old-school managers are guaranteed to taste a military-style right of passage in these companies that would comprise all phases of the change process from shock to integration (Recklies). It is true enough that change management through retraining or managerial initiation is a tried and tested military method of producing good commanders for facing an ever-changing brutal field, and the design of such change management initiations has shaped the right of passage for their civilian corporate counterparts.   Essentially, a good initiation must be anchored on the scientifically-established phases of change, to provide the mental and strategic framework for leadership renewal.   One can only contemplate on the complexity of designing an effective initiation process and their phases on changing the character of the trainee into a newly refreshed manager. Departmental/Field Rotation Since experience is thought of as the best teacher, re-initiation should be conducted mostly on the field.   The manager-trainee must spend one month working in each department/division of the company.   The job for Week One must involve the lowest and dirtiest chores to provide the shock or surprise therapy.   For our shipping company example, s/he can man the forklift, move crates/boxes etc., to erase his /her alienation with the lowest level of employees and learn to confront unexpected situations on the ground level.    Week Two must involve more technical tasks, such as ship communications and radio coordination.   Then the trainee must progress up the department’s ladder in Week Three, manning a team (or teams) in the department to achieve the rational understanding and emotional acceptance phases, for it is in these ground teams that the usual crises spur up.   Then on Week Four, the re-trainee will supervise the whole department. For each first Friday of the month, the trainee must answer an exam issued by the head of the department to evaluate his/her performance and document his/her character change for the past month.   After this, the trainee must then be rotated to another department, starting from the ground-up again, then another exam, until s/he comes across all departments to implement the exercising and learning and phase, where the manager tries new behaviors and processes while adapting totally new departmental environments This program sounds very exciting for a multinational shipping company with operations (and offices) across the world, requiring the trainee(s) to travel and spend time in both functional and geographical field departments.   For optimum learning experience for the future manager, this departmental rotation must be done within 12 months, then a comprehensive exam to asses the trainee’s management horizon and newly-learned expertise.   But the designed program must not end in departmental management, for there is still the higher-level management to teach. High-level Management Now that our trainee had valuable experience in the departments and field offices, s/he should master the main office and its worldwide coordinating patterns/styles.   S/he could be in charge of a section of the coordinating network of the logistics and sea transportation form, while attending mandatory classes on advanced, MBA-level economics, customs and trade management during the weekends, all expenses paid by the company, this conducive to the realization phase of change where new experiences and insights are encountered and related into company policy and strategy.   This high-level management part should go on for another year, to ensure that our trainee can relate his/her departmental/field experience to the theoretical/conceptual nature of top-level management, thus achieving the integration phase. At the end of this program, the manager is expected to have a healthy mix of experiencing the harsh field offices/departments and the stressful solitude of the main office.   The main purpose of mixing, creating a blend of experiences is to build upon the manager an ability to empathize on real business challenges and real-life operations, that in case problems arise, our trainee can confidently resolve new and inevitable crises, then shape company policy for success.   In designing a training program, one must achieve a character change that is holistic and balanced. Reference The Maersk Group. (2007). A Global Way to Work. Retrieved February 2, 2008, from http://www.mise.edu/. Recklies, O. (no date). Managing Change: Definition and Phases in Change Processes. Retrieved February 2, 2008, from http://www.themanager.org/Strategy/Change_Phases.htm.

Open Racism

When I think about is racism still alive today, a particular poem comes into mind its entitled:â€Å"Racism Is Around Me Everywhere†. | | â€Å"Of human ignorance I am almost in despair For racism is around me everywhere But like they say sheer ignorance is bliss Just like Judas betrayed Jesus with a kiss. Some people carry their honor in a flag And of their Nationality they brag They feel superior and they differentiate And against those who are different they discriminate. So many people still judged by their race For such there never ought to be a place ‘A fair go' those untruthful words I do recallThere is no such a thing as a ‘fair go for all'. Though we live in a so called democracy Of racism we never will be free They judge you by where you come from and the color of your skin For many equality and respect seems impossible to win. It's been awhile since the days of Martin Luther King His name to it has a familiar ring If against racism he did not choose to strive Today the great man he would be alive. So many holding the reins of power not spiritually aware And racism is around me everywhere And racism only leads to division and war Just goes to show how ignorant some are. † (Frances Duggar) | |Racism is a belief held by some that there are characteristics and abilities can be attributed to people simply on the basis of their race and that some racial groups are superior to others. Racism and discrimination have been used as powerful weapons encouraging fear or hatred of others in times of conflict and war, and even during economic downturns. For people throughout the world, the election of Barak Obama to the U. S. presidency seemed to signal in a new era, that of the end of racism. Indeed, Obama's election was a momentous occasion and, one would have hoped, a milestone on the road to reconciliation.However, some recent, very ominous events cast a worrisome veil over the democratic process in the United States. These events poin ts out how racism is still a problem in the United States. Racism occurs often times out of fear. Many people fear what is different to them and what they do not know. This in turn, makes it scary when you see people who look different than you do and sometimes, you treat those individuals differently because you do not know them. Racism occurs in different facets of society. Schools, the government and the workplace are sometimes the worst examples of racism.Racism in schools Millions of African American and Latino young people in the United States don’t get an education equal to that of most whites, partly because the urban schools they go to don’t have as much money as the schools in the white suburbs. This is because the country has decided that much of the money for schools should come from local property taxes. So in communities where the houses and businesses are less expensive, the schools don’t get enough money to provide a high quality education. This is unfair. This is institutional racism.If we financed schools differently every student, regardless of his or her â€Å"race†, could go to a high quality school that was the equal of the schools other students attend. The Government Hurricane Katrina: The government had known for years that a big hurricane was likely to cause dangerous flooding in New Orleans. The plans they made didn’t include any way to get poor people (predominately African Americans) out of the city to safety. When the storm and the flooding did come with Hurricane Katrina in 2005, much of the country saw on TV that thousands of people of color were stranded in the city without food, water, housing or safety.The government was incredibly slow to rescue people, to provide food and shelter, and to help them rebuild their houses. Many people believe that if those stranded had been mostly white people the rescue efforts would have been much quicker and effective. Racism in the Workplace Racism in the form of discrimination persists in society also. A case in point is that blacks have traditionally suffered from higher rates of unemployment than whites. In June 2009, black employment was at 15. 3 % compared to an 8. 8% unemployment rate for whites. Do blacks simply not take the initiative that whites do to find work?Studies indicate that, in actuality, discrimination likely contributes to the black-white unemployment gap. (Thompson) Critics will say how can racism still exists with the election of the United States first black president. Since President Obama took office he has been a rise of subtle racism against our president. It can be seen in the supporters of the new â€Å"birthers† movement, who stir up doubts about Obama's citizenship. During the 2008 presidential campaign, there was no impetus to question John McCain’s birthplace even though it was common knowledge that McCain was born in Panama; because he is white.The president’s birthplace should n ot have been an issue at all but yet to this day you still have a lot of Americans who still question his birthplace. Critics also say with electing our first minority president, and minorities reaching higher levels of education, obtaining more earnings and more distinguished careers, one might infer that prejudice is dead. I contend that it is alive and flourishing while lurking beneath the shadows of figures that naturally inflate with the growth of a burgeoning society.If racism does not exist then what accounts for â€Å" the wide range of disparities that still exist in society, most of which show black Americans with worse outcomes than whites in areas such as income, home ownership, health and employment,† study researcher Samuel Sommers, a psychologist at Tufts University, said in a statement. When most Americans think of racism they think of the open racism back in the Civil Rights movement and during slavery times when crosses were burned in African-American yards. They think of the KKK when they think of racism which was upfront and in your face. The fact that the KKK and groups such as these that still exist prove the point that racism still occurs in the United States. While racism may not be as widespread as before, it exists, without a doubt. While we like to think that those unfortunate days of racism are behind us, it still exists. Today, racism is much less obvious and less prevalent. However, we are still reminded that racism is alive and well, and we must continue working to do away with it.Every day in the news there are stories dealing with the unfair treatment of minorities, women, and gays. America is the best country in the world because of the opportunity given to every individual and because of its constant struggle for equality of all. Any person, of any race, creed, or religion can succeed with hard work and determination. The problem is that the level of those individual’s success is sometimes determined, by the colo r of their skin. The race for social equality is persistent here, but there are still problems with the system.So, unfortunately racism does still exist today in the United States. References William-White, L. , & White, J. (2011). Color Marks the Site/Sight of Social Difference: Dysconscious Racism in the â€Å"Age of Obama†. Qualitative Inquiry, 17(9), 837. Retrieved December 12, 2011, from Research Library. (Document ID: 2495960131). William March. (16 May). Researcher: Evidence shows racism in opposition to Obama. McClatchy – Tribune Business News,. Retrieved December 12, 2011, from ProQuest Newsstand. (Document ID: 2348227321). Thompson Matthew (2011).Does Racism still exist today? Answers from Men. Retrived December 12, 2011 http://www. answersfrommen. com/2011/01/does-racism-still-exist-today/ Mosser, K. (2011). An introduction to logic. San Diego, CA: Bridgepoint Education, Inc. (https://content. ashford. edu) Pappas Stephanie. (2001) Study: Whites say they are racists’ victims. Retrieved December 12, 2011. http://www. cbsnews. com/stories/2011/05/24/scitech/main20065864. shtml http://poemhunter. com/poem/racism-is-around-me-everywhere/ http://www. politicususa. com/en/political-racism

International business project: A case of Mexico Essay

Mexico is the most populated Spanish speaking nation in the world and comes third in population in the Western hemisphere. Mexico holds more than 100 million inhabitants. In the early years of its history the government had embraced the protectionists policies of trade in order to motivate industrial growth and therefore ensure growth in the domestic economy. Unfortunately under these policies the country underwent a decline in living standards and inflation. The debt crisis in the year of 1982 that saw the country fail to meet its debt obligations primarily aggravated the challenges in the economy especially half way into the mid 1980’s (Pasco 72-73). The Mexican government therefore in the late years of 1980 adopted measures that were aimed at restructuring the country’s economy. The country’s efforts consequently shifted to trade liberalization and privatization of industries that were previously state owned. Privatization of infrastructures such as rail roads, natural gas distribution, telecommunications, electricity and the airports among others took place extensively. The country proceeded to make economic policy reforms in the early 1990’s consequently attracting large amounts of foreign investment cash. However in 1993 the flow of capital from foreign countries started to decline majorly as a result of political uncertainty and an exchange rate that was overvalued. The declined levels of international levels subsequently led to peso devaluation. By the last months of 1994 the country was experiencing a currency crisis forcing the government to take on the floating exchange rate system. The result was a deep recession of the economy six months later. The aftermath of the recession saw the government restructure the system again to create conditions that would hasten the recovery of the economy. An emergency package was received form the World Bank and a plan that increased value added tax, fostered budget cuts and even tighter monetary policies was implemented. Subsequent years saw the country increase its exports and softened the impact of the recession. The country’s Gross Domestic Product (GDP) growth in 2006 was 4. 8 percent but decreased to 3. 3 percent in the year 2007 and further down by approximately 1% in the year 2008. Mexico has not been left out and the country is significantly feeling the effects of the worldwide economic downturn. Economists forecast the contraction of its GDP this year by 2. 6 percent the sharpest ever contraction since the 95 crisis. The country is currently experiencing job losses, cut production capacities in plants and poverty levels have also short up with more than 5 million people living in impoverished conditions (Field 32-41). # Mexico’s trade position with Canada The trade relations between Canada and Mexico have strengthened because of the North American Free Trade Agreement (NAFTA). The trade flows between the two countries has shown an impressive gradual increase in the not less than nine years existence of the agreement. The results have now made Mexico, to become Canada’s major trading partner within the Latin America region. The country also ranks fourth as Canada’s trading partner in the globe after United States (US), China and Japan. For Canada, Mexico has become a very important destination and is positioned as Canada’s third biggest market for its exports. On the same note Canada in 2002 appeared on Mexico’s lists as the number five largest foreign supplier. The countries have continued over the years to strengthen their trade ties and now Canada is the first supplier of Mexican agricultural, mineral and metal products. On the other hand high production standards of Mexico have made it Canada’s top supplier in vehicles, agricultural goods and electronic equipment. Consumers in the two countries have taken advantage of the relations to access a wide range of affordable goods. On the other hand Mexico also has good trade relations with other countries such as the United States. America is basically the leading creditor and trade partner for most counties in the Latin region. The two countries are closely linked such that Mexico as a country is the most exposed to the U. S economy and any changes in it would largely affect the Mexicans. More so 80% of the Mexican exports find there way to America. Additionally the Mexican economy is greatly supported by the remittance from its working citizens who are in the United States, (Field 32-41). The remittances actually account for not less than 3 percent of its GDP and they form the second largest source of income to the nation after oil exports. The country has also taken advantage of its skilled labor force to attract high technology investors from the United States. The sectors in which America has invested in Mexico include the telecommunications, transport and agricultural industries to mention just a few. # Membership in trade blocks. Trade blocks play a very critical role especially when it comes to international trade negotiations. Mexico for example is a member of the G20 trade block which constitutes of other members such as Argentina, India, Brazil, Pakistan, China, South Africa. , Philippines, Bolivia, Thailand, Venezuela, Chile, Zimbabwe, Paraguay, among others. The G20 is developing countries grouping that resulted from the world trade talks in Cancun in the year 2003. The group is led by major exporters and countries that are rapidly growing such as India, China, Brazil, and South Africa making it strong and with the capacity to compete with the US and EU in trade negotiations. G20 has been noted for its emphatic rejection of the proposal by the EU to include competition and investment as critical elements in trade talks. The group has also been emphasizing that before they make any agreements on reduced tariffs for manufactured goods or services the rich nations must first put concessions on agriculture. Additionally Mexico together with the United States and Canada form the North American Free Trade Agreement (NAFTA). The Agreement addresses the issues of labor, environment, trade and investment. Even then the Agreement has been criticized by some US environmental groups and unions who claim that its safeguards are weak. It was consolidated in the year 1992. The aim of the agreement was to remove trade tariffs on products for a period of not less than 15 years and at the same time limit trade contacts with outsider countries in the globe. The agreement was also expected to increase and enlarge their farmers markets and stimulate economic growth. Recently there have been calls to renegotiate or suspend the Agreement after fourteen years in operations. Clearly though Mexico has benefited from its membership in the block, which is said to be the among the world’s richest blocs. It has for example acted to increase Mexico’s amounts of exports, and also increase the amount the country receives from the United States in terms of foreign direct investments (Pasco 72-73). The agreement has also led to an increase of job opportunities for Mexicans also accompanied with an increase in wages especially in the areas with most foreign investors. #4 Governments position on trade and foreign investment In the past few decades Mexico has transitioned from a closed economy to an open economy. The policy of open trade has enabled the country to face the challenges brought by the economic slow down and financial markets that are not stable. In early years of the 80’s the country took a step towards unilaterally liberalizing its economy. The country then took domestic measures with the aim of encouraging foreign investment and deregulating business activities. In the early 90’s the country embraced the country took the initiative of opening its markets by undertaking international trade negotiations with the principles of reciprocity and balance in mind. The country has currently signed various bilateral investment agreements and not less than nine international free trade. The result has been export oriented growth and industrial competitiveness. The policies have also led to preferential market access of their exports to more than 800 million consumers that benefit from their exports and have additionally opened up new investment opportunities. Generally the Mexican strategy of free trade agreements has been critical in improving its competitiveness on a global scale, increased trade and long term growth. Its current network of trade agreements can be said to be the major cause of the impressive trade flows in the country. Mexico appears among the ten largest trading countries in the world. In 2003 for example the country had exports costing not less than $165 million. Basically its quantity of exports has tripled since 1993. Mexico has also been transformed to become a manufacturing export center courtesy of trade liberalization. Currently most of the country’s exports are largely manufactured goods a change from the early 80’s when the greater percentage of exports was oil. Their young productive labor together with the measures of investment protections and tariff elimination are among the factors that have encouraged foreign investments making it a manufacturing hub. Their auto, electronics and textile and apparel industries have industries have been the most beneficiaries of trade liberalization (Pasco 72-73). . # Reasons why Canadian companies should trade/invest there and reasons why they should not. Mexico comes across as a very viable country for Canada to invest in. Among the reasons are its strategic position, economic indicators, policies that aim at encouraging foreign investors and a conducive environment for investment among many others. The country is made up of 32 federal States of which each is free and sovereign and its territory extends to not less than one million square kilometers. The country borders Guatemala, Belize and the United States. The country additionally hosts more than one hundred million inhabitants of all religious affiliations meaning that all beliefs are represented without bias though the majority of the population is Christian. Spanish is the official language of Mexico although it has more than 66 kinds of languages. The country currency is called Peso. The country’s place of location allows it to supply the markets in North America and also to have access to potential world inputs and modern technologies. The Jalisco, Quintana Roo, Colimo are among the federative entities whose populations greatly participate in economic enhancement. Its population consists of not less than 1 million unemployed citizens. The country is endowed with an attractive investment environment even as demonstrated by the following statistics: in 2007 the country was ranked as the 12th largest economy in the world by the virtue of its GDP; with regards to its oil reserves it appears as number 17 globally; additionally the country is a very important tourist destination ranking eight globally in this regard. Moreover the country is among the top ten countries in the world that benefit most from foreign direct investment. Additionally their fiscal and monetary policies have served to ensure that the country enjoys periods of macroeconomic stability with reference to the recent years. In fact it was named the best Latin American country in terms of favourable business conditions and placement of foreigners’ capitals. The stable economy that it has enjoyed has led to it accommodating not less 30,000 foreign companies. The economic stability therefore makes it a good destination for conducting profitable business. In order to attract more investment the country has a consolidation of several sectors of production which include of industries such as the automobiles industry which was ranked 7th globally, electronic industry, telecommunications industry, the information technology and software industry. These sectors provide different kinds of opportunities for Canadian investors. The country additionally has good relationships business wise with other countries in the global scenario. This has allowed it to have preferential access to the markets in Israel, North America, and the European Union just to mention a few. The preferential access it enjoys combined with its cheap yet young and qualified labor force make the country a lucrative destination for investment by Canadians. The Bilateral Investment Treaties that the country has signed should be an attraction enough for Canadian investors. Through these treaties the country offers legal protection and security to it foreign investors. Moreover the country offers a low risk return combination that guarantees the investors markets access prevailing conditions of macroeconomic stability, transparency and political stability. Additionally investors have the opportunity of benefiting from the high quality inputs offered at affordable prices, growing domestic markets, and wide array of trade agreements. In spite of this Canada may not need to invest in Mexico because of the fact that Mexico is among the top countries with high levels of corruption in the region. Any country with high levels of corruption is should be scary to investors because it simply implies that investors will have to spend more than is necessary in order to get value for their money. The effects of corruption in fact go way past the monetary costs. The country also suffers from poor infrastructural networks although the government is taking steps to ensure that infrastructure is improved to allow investors to have access to any market and on time. The country is also consumed by the culture of drug abuse among its especially productive population. This means that in a way the investor security can not be guaranteed. The country also has strict legal and regulatory frameworks that may serve to impede the speed by which an investor can establish his business. The effects of agglomeration also may work to hinder any Canadians that would want to invest in Mexico. In conclusion Mexico would be a wise choice for any investor, this is because the country has done everything to ensure that its business people will not only be able to access the internal but also the external markets especially through the many trade agreements it has signed. This means that all the established businesses in the country have the potential to operate profitably.