Owning Your Own Business Essay -- Essays Papers

Possessing Your Own Business There are numerous points of interest and drawbacks while claiming your own business. At the point when you own you own business, it’s known as a sole ownership. Be that as it may, with a business, there will consistently be points of interest and burdens. Five points of interest for possessing your own business are: 1) The proprietor gets all benefits, implying that all profit go to the sole owner, or the proprietor, and isn’t imparted to any other individual. The benefit isn't part among accomplices, or split among an enterprise. So when you own your own business, you’re the solitary one that gets all income and benefit. So if an individual has an effective firm, he/she is the first to receive the achievement and benefits. 2) Another favorable position of possessing your own business is that you’re your own chief. You can set your own hours, choose what you need to do with the organization, no director to reply to. Essentially, you’re accountable for everything. The proprietor exclusively settles on all choices. Or on the other hand at the end of the day, you’re managing everything. 3) An extra favorable position is that a sole ownership can be effectively composed. It’s simple to go into bus iness. As a matter of first importance, it costs next to no cash to go into business. As a sole owner, you have insignificant legitimate prerequisites. The proprietor doesn’t need to build up a different lawful substance. All that is required is to enroll the organization with the state and apply for a word related permit and any extra licenses required for the state. ...

Technical Skills for Social and Cultural Concerns- myassignmenthelp

Question: Examine about theTechnical Skills for Social and Cultural Concerns. Answer: Business aptitudes are characterized as the various procedures through which the showcasing supervisors can illuminate the issues at working environment. Appropriate specialized just as explanatory aptitudes are required to be available in the advertising chiefs, as it will help them in managing different circumstances. The business aptitudes are fundamental to be available in the showcasing people, as this will examine their qualities that must be actualized by them in different circumstances at working environment. The primary point and reason for the paper is to examine the diverse business aptitudes that should be received by the people in the work environment. Legitimate aptitudes are to be resolved, as this will help in examining the chances and dangers looked by the people. The structure incorporates ID of the aptitudes that must be embraced by the showcasing chiefs and the effects looked by them later on. In this paper, two business aptitudes are distinguished and legitimized which are important for work in business, as it likewise portrays how these business abilities can be instructed by colleges to college understudies. Specialized abilities are the ones that help in achieving the particular assignments that are identified with the data innovation. In various sort of organizations, specialized aptitudes are significant as this aides in breaking down the abilities and play out the particular assignments well. So as to meet the targets and creating different methodologies appropriate arranging is finished by the advertising administrators in the association (Sekaran, Uma and Roger 2016). Right off the bat, specialized aptitudes is one of the business abilities of the advertising chiefs as it causes them in understanding and creating different techniques that helps the association in picking up benefit later on. Specialized aptitudes are basic that must be controlled by the advertising directors. Specialized abilities of the showcasing supervisor help in deciding and recognizing the region wherein improvement is required. The improvement must be with the end goal that it helps in conceiving the techniq ue, for example, messaging the objective clients so as to make them mindful about the various offers gave by the particular organization on different buys made by them. Appropriate propelling must be finished by the promoting authorities so as to pull in more clients and make the client base solid in nature. The outcomes should be assessed appropriately with the assistance of email just as web based business information as to comprehend the gauge of the deals of the organization. The specialized branch of the organization needs to examine the consequences of the deals of the organization and it will assist them with automating the accomplishment for what's to come. The database must be made by the specialized office that will help being developed of web just as structuring of the web that will help in breaking down the methodologies of valuing and advancement in the organization. This will upgrade the issues and it will help them in making comprehend the understudies about the issue s that can be settled without any problem. As the specialized aptitudes of the administrators likewise help them in determining the enhancements that are required to be executed by them in their items and administrations to target more clients. For example: The colleges show such specialized abilities to the understudies who are prepared to work and take up difficulties also. The colleges can help the understudies in looking through the activity with appropriate execution of data innovation. These upgrades help in understanding their situation in the serious showcasing condition and dissect the development of the organization with appropriate execution of procedures, for example, looking into the estimating just as expanding the contributions to the objective clients (Sekaran, Uma and Roger 2016). Appropriate database must be made for distinguishing the objective clients in the separate organization, as this will help in wire confining the duplicates of the databases of the objective clients of the organization. Legitimate me ssaging must be finished by the specialized division wherein the showcasing authorities will mail the various limits gave by them and other additional advantages gave by them to their exceptional clients who have made numerous buys over the most recent couple of months (Sekaran, Uma and Roger 2016). The guaging of the measurements is fundamental to be finished by the workers of the specialized office, as this will help in inquiring about the innovation of the market (Perreault et al. 2013). For example: In a particular association, specialized aptitudes are significant in nature, as this will them in picking up deals in the serious market. The specialized office needs to actualize systems identifying with the extension of the organization just as different methodologies that will help in making different choices that will help the clients shopping the things that are fundamental for them (McDonagh, Pierre and Andrea 2014). As indicated by Perreault et al. (2013), appropriate usage m ust be done that will help the organization in getting access of the different advancements that can furnish the individual organization with different serious systems that will help in picking up benefit later on. Besides, the different business expertise that must be controlled by the advertising administrators is investigative abilities that helps in comprehension the different examination required in the promoting occupations. The showcasing administrators need to embrace legitimate capacity to imagine just as well-spoken the issues that can make issues for the whole organization (Ali, Melewar and Charles 2013). The advertising administrators need to have the diagnostic abilities as it helps in taking care of the issues with investigating the whole circumstance. The showcasing authorities just as the directors need to break down the data, as this will help in comprehension the political, monetary just as close to home choices that can make tremendous effect on the advertising choices taken by them in the association (Csikosova et al. 2014). With legitimate usage of explanatory aptitudes, it will help in upgrading the choices of the business and make more open doors for the business too. The promoting authorities need to pose appropriate inquiries to the clients about the different questions looked by them in regards to different items and administrations of the separate organization. The normal outcomes should be broke down, as this will help the promoting division to comprehend the escape clauses and redress them as needs be (Lovelock, Christopher and Paul 2015). Legitimate expository aptitudes of promoting must be successful in nature for the different technically knowledgeable people who are keen on web based advertising and it is useful for the individuals who are likewise acquainted with messages for getting different notices of various offers gave by the organizations later on (Baker, Michael and Michael 2016). The logical aptitudes are to be appropriately comprehended by the people as this will help them in defeating the issues that will be looked by them in the workspace and it will help in settling such issues.. The expository aptitudes are actualized by the organization can help in understanding the exhibitions of different rivals in the market. The colleges are required to encourage the logical abilities also to their understudies as this is a colossal necessity that must be appropriately educated so as to make them autonomous in nature. Fir occasion: The colleges need to help the understudies in taking care of the assignments successfully just as gathering data appropriately also. Legitimate arranging of information just as methodologies identified with systems help in understanding the conduct of clients in their database. There are wellsprings of expository information that is utilized by the organizations so as to comprehend the focal point of the contenders through different overviews with assistance of polls and internet following of clients also. So as to deal with the collaborations of the clients, it is fundamental for the organization to actualize promoting systematic arrangement so as to fulfill the requirements of the clients (Arsel, Kirsi and Johanna 2015). For instance,in a separate association, the advertising supervisor needs to actualize advancements that will help in expanding their deals and incomes later on. In the gadgets store, legitimate progression in innovation is essential as to increase upper hand in the business against the contenders. The particular gadgets organization needs to actualize different advancements that will help the organization in breaking down the escape clauses and they can execute systems that will help them in producing messages or different strategies that can create deals in the business. These business abilities can be instructed to the understudies with sharing functional models about the showcasing procedures that can assist the organization with gaining benefit in the business. The understudies will have the option to learn different systems with legitimate practice gave to me based on hands on preparing to them a nd this will help them in understanding the whole employment profile of the promoting authorities. The promoting authorities need to discover such issues and tackle them with appropriate use of the investigative abilities and fathom them appropriately too. End Along these lines, it tends to be derived that legitimate usage of procedures is fundamental to be embraced by the organization, as this will help in understanding the escape clauses of the organization. The particular organization needs to execute such strategies and techniques that will help them in examining the business aptitudes, for example, scientific just as specialized abilities. The organizations need to actualize business abilities as this encourages them to comprehend the advertising qualities that are useful for them later on for understanding the necessities of the organization. The fundamental thought process of the organization needs to comprehend the preferences and inclinations of the organization as it will help them in breaking down the abilities of different rivals in the market. The colleges need to show both the aptitudes to their understudies as

MindMeister for Android - Focus

MindMeister for Android - Focus Please note: This article was last updated in 2011. For up-to-date information on MindMeisters mobile apps, please visit mindmeister.com/apps! Ladies and Gentlemen; we know youve been waiting quite a while for it, and were very pleased to announce the official launch of the free MindMeister for Android app! As a reminder, MindMeister for Android has been specifically written for mobile devices supporting Android 2.x, and we plan on adding tablet (3.x) support in the future. Get MindMeister for Android Today! A quick rundown of the MindMeister for Android feature set: Create and edit unlimited mind maps and folders Seamlessly sync maps and folders with your free online account Share maps directly from the device Multi-touch support for drag drop, zoom, pan Add icons, colors, styles and map themes Edit and view notes, links and tasks on ideas Draw connections between nodes Manage Favorite maps Quickly insert ideas (Geistesblitz) As with our iPhone and iPad apps, your MindMeister data will be automatically backed up with your online account, ensuring that youll never lose a thought. From our award winning web interface youll also be able to take full advantage of: Unlimited undo / redo Import from MindManager, Freemind and text files Export as RTF, PDF and image Export as MindManager, Freemind, MS Word and MS PowerPoint (requires paid MindMeister account) A hearty thanks go out to all that participated in our beta tests without you none of this would have been possible. So what are you waiting for? Go grab your free MindMeister for Android app, and get mobile mind mapping today! MindMeister for Android - Focus Please note: This article was last updated in 2011. For up-to-date information on MindMeisters mobile apps, please visit mindmeister.com/apps! Ladies and Gentlemen; we know youve been waiting quite a while for it, and were very pleased to announce the official launch of the free MindMeister for Android app! As a reminder, MindMeister for Android has been specifically written for mobile devices supporting Android 2.x, and we plan on adding tablet (3.x) support in the future. Get MindMeister for Android Today! A quick rundown of the MindMeister for Android feature set: Create and edit unlimited mind maps and folders Seamlessly sync maps and folders with your free online account Share maps directly from the device Multi-touch support for drag drop, zoom, pan Add icons, colors, styles and map themes Edit and view notes, links and tasks on ideas Draw connections between nodes Manage Favorite maps Quickly insert ideas (Geistesblitz) As with our iPhone and iPad apps, your MindMeister data will be automatically backed up with your online account, ensuring that youll never lose a thought. From our award winning web interface youll also be able to take full advantage of: Unlimited undo / redo Import from MindManager, Freemind and text files Export as RTF, PDF and image Export as MindManager, Freemind, MS Word and MS PowerPoint (requires paid MindMeister account) A hearty thanks go out to all that participated in our beta tests without you none of this would have been possible. So what are you waiting for? Go grab your free MindMeister for Android app, and get mobile mind mapping today!

Motivation Theory Vs. Equity Theory - 1692 Words

Analysis of the results in Figure 1 to 10 shows some understanding of motivation theories. We will first compare both theories and then explain the ERG theory, and finally the equity theory. It can be noted from the response of the survey that motivation factors of employees supported by both theories are somehow depending on which age group you are in. From figure 2, we can see that most of the interviewees (under age 25, age 35-45 and above age 45) are equity theory-based, while more thinking that ERG theory is more important in age group 25-35. Besides, from figure 3, 40% of the respondents (majority), including age group under age 25 and above age 35, agree that unfairness treated by managers will make them dissatisfied, while 30% of them (second priority), mostly in age group 25-35, recognize that absence of personal development on their career paths will make them discontented. This implies that most employees are equity theory-based, except those in age 25-35, which are same a s previous. Furthermore, although figure 6 shows that two answers representing on both theories are evenly distributed, we can also know that all participants in age group 25-35 focus on their individual progress plan, which states the importance of personal development or growth needs in their career. However, most in other age groups, especially from age 35 to 45, will rather the offering of same chances, which also states the essence of equity in their career. Next, according to figure 1,Show MoreRelatedStudy Skills Assignment ( Individual Work On Organisational Behaviour1381 Words   |  6 Pagesbehaviour, and goals will focus your energy.† -Kenneth H. Blanchard Organisational Behaviour has been an instrument for human development. It speaks volumes about the importance of a person as a human being and as a team member. Various theories have been put forward by researchers that support this fundamental meaning of Organisational behaviour. At the Individual Level, OB gives an analysis of a person’s learning, creativity, personality they possess, their behaviour, personal ethicsRead MoreGetting the Best out of Employees1053 Words   |  4 Pagessuch as age, gender, marital status and education, However compare to all this, there is a most important factor that drives employees toward excellence that is motivation. For many years managers and researchers have been struggling to identify what can motivate an employee to perform their duty at the best continuously. Motivation is equivalent to a fuel that burns and boost an individual’s inner self to move him/her towards achieving their goals. By identifying the goals of employees the managersRead MoreCompare and Contrast the Need Theories and the Process Theories of Work Motivation1172 Words   |  5 PagesA Brief Introduction to Motivation Theory 34 Votes Management Theories Motivation Theory What is Motivation? Motivation is the answer to the question â€Å"Why we do what we do?†. The motivation theories try to figure out what the â€Å"M† is in the equation: â€Å"M motivates P† (Motivator motivates the Person). It is one of most important duty of an entrepreneur to motivate people. (I strongly belive that motivating people with visionary and shared goals is more favorable than motivating throughRead MoreQuestions On The Industrial Revolution1668 Words   |  7 Pages RAFAEL Z. I/O PSYCHOLOGY FINAL PAPER 1 More Bang For Your Buck? Pay vs. Motivation Rafael Zavala Fall 2015 RAFAEL Z. I/O PSYCHOLOGY FINAL PAPER 2 Table of Contents Introduction†¦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 Review of Major 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‚¬ ¦.4 Review of Chosen studies†¦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‚¬ ¦.4-7 Rà ©fà ©rences†¦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‚¬ ¦..8 Author’s Reflection†¦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‚¬ ¦9 RAFAEL Z. I/O PSYCHOLOGY FINAL PAPER 3 Ever since the marking of the Industrial Revolution (1760-1840)Read MoreBuad 304 Study Guide Midterm 11134 Words   |  5 Pagespeople make sense of the world by organizing and interpreting sensory input. Factors Influencing Perception †¢ Internal †¢ External †¢ Situational Attribution Theory †¢ We judge people differently based on the meaning the ATTRIBUTE to their behavior, mainly, if it was internally of externally caused. †¢ Ways to determine internal vs external: o Distinctness – do they act differently in different situations? †¢ Yes – external. No - internal o Consensus – do other people behave the same way inRead MoreWhy Should A Firm Seek Help Motivate And Satisfy It Employees?1289 Words   |  6 Pageson increased employee motivation and satisfaction correlated directly with the overall business effectiveness (Watson, 1994, p. 4). Increasingly businesses are recognizing the importance of motivated workforces, thus the issue becomes a question of how should a firm seek to motivate and satisfy it employees? Conventional wisdom may tell us that the answer to this question is money, however, what numerous theories and frameworks have demonstrated over time is that motivation is not merely as simpleRead MoreCaptain Edith Strong Case Study Paper1404 Words   |  6 Pagesturnover is motivation. Simply creating more social time for the patrol officers is a motivator in itself. Additionally, Captain Strong needs to apply the motivational strategy of choice to supervisors as well. Often unmotivated employees are the result of an unmotivated supervisor. Essentially every individual in the department needs a breath of fresh air. However, because police work is so unique, the motivational strategy Captain Strong must adopt is actually a marriage of two types of motivation theories:Read MoreOrganizational Behavior Essay159 1 Words   |  7 Pagesconfrontation or tension in the work place. The five dimensions of personality are:  § Extraversion. Sociable, talkative vs. withdrawn, shy.  § Emotional Stability/Neuroticism. Stable, confident vs. depressed, anxious.  § Agreeableness. Tolerant, cooperative vs. cold, rude.  § Conscientiousness. Dependable, responsible vs. careless, impulsive.  § Openness to Experience. Curious, original vs. dull, unimaginative. Employees learn practical skills to include job-specific skills, knowledge, and technicalRead MoreLeadership Theory Vs. Leadership1286 Words   |  6 Pages1.1Evaluate leadership theories Leadership is the ability to influence the actions of an individual or a group for the achievement of goals in a given situation. â€Å"Leadership is the ability to secure desirable actions from a group of followers voluntarily without the use of coercion.†(Alford and Beatty) Management Vs Leadership According to Stephen Covey â€Å"Leadership focuses on doing the right things, management focuses on doing things right. Leadership make sure that ladders we are climbing are leaningRead MoreSelf-Directed Teams: Case Study832 Words   |  3 Pagesfocused on removing hierarchical layers, increasing employees’ involvement, and pushing the decision process to a lower level within the organization, Qwersy. (2013) â€Å"The Corpus Christi experiment† was a huge success comparing to o ther plants, 80% to 82% vs. 65%-70% productivity. However, the SDTs at the new plant have not been able to achieve the expected goal of 95% design capacity. It seems that some existing difficulties on job definition and management hinder the further improvement, including: individual

Homosexual Parents The Ongoing Struggle For A Family Essay

The Ongoing Struggle for a Family The most important thing in a family is that all the people in it love each other.† This excerpt is from a children’s book, written by Leslea Newman, Called â€Å"Heather Has Two Mommies.† This story is intended to show kids that not everyone’s family is the same. Many reasons are given to dispute gay and lesbian parenting but all founded on some of the archaic beliefs that Hitler used to kill homosexuals during W.W.II, fear and prejudice! Although having children and being parents seems like a basic human right or choice, many people believe that the government should have the authority to discriminate who can are cannot have children, regardless of their parenting skills.†¦show more content†¦Ã¢â‚¬Å"Lesbians and gays love and form deep and lasting commitments just like heterosexuals. To claim otherwise is to declare that lesbians and gays are somehow not human and ignore the reality of their lives,† (New Civil..125) Laws and social views seem be conflicted on what they want because they say gay/lesbian relationships are not stable, but than deny them the right to marry, therefore through laws and legislation the are not promo ting the behavior that they seem to require. HIV/AIDS is a horrible disease and truthfully is a major concern in the gay community, but it is because of the stereotypes, lack of education, and knowledge about the disease itself that this disease was able to attack many gay males. Although HIV/AIDS is a concern for people in general the number of lesbian women with it is almost non-existent. Does this mean that heterosexual couples that have HIV/AIDS are not having children? No, countless articles can be found about drug using prostitutes that give birth to a baby with HIV and still retains custody. While in 1997, a women named Sharon Bottoms loses her child in Virginia to her mother for being gay, â€Å"active lesbianism practiced in the home may pose a burden upon the child by reason of ‘Social Condemnation’ attached to such an arrangement† the state Supreme Court stated (issues..36). All hope is not lost though, in June of 1997 an Ohio appeals court upheld that, â€Å"sexualShow MoreRelatedShameless Case Study : Case Conceptualization : Shameless817 Words   |  4 Pagesunderstand the functions of the characters (Wells, 2016). The Gallagher family has been referred to family counseling on the account of the pregnancy of Debbie Gallagher, the youngest daughter, a 14-year-old. The Gallagher family includes Fiona, the eldest sister who has taken the role as the parent of the family since she was 14-years-old, Philip, the eldest brother who is currently in treatment for alcohol use, Ian, a 17-year-old homosexual who is currently receiving treatment for a Bipolar Disorder, DebbieRead MoreSex Marriage And Same Sex Parental Adoption1482 Words   |  6 PagesIntro to LGBT Studies Case Study Part 1: Historical Context Due September 22, 2017 The topics of same-sex marriage and same-sex parental adoption have been controversial and ongoing topics in recent years, which is a drastic change in mainstream society. People of the lesbian, gay, bisexual, and transgender (LBGT) community have had a difficult time in gaining visibility and equal civil liberties, one of which is marriage equality. Same-sex couples have only recently been recognized under theRead MoreThe Debate On Gay Marriage2745 Words   |  11 PagesI. Introduction to Moral Dispute: Gay Marriage Contemporary moral disputes are constantly ongoing around the world and in the United States. For hundreds of years marriage has been defined as the legally or formally recognized union of a man and a woman as partners in a relationship. Up until relatively recently the debate on gay marriage has not been a popular topic. Gay marriage has been illegal in the US and most countries around the world up until the early 2000s.[1] The debate on gay marriageRead MoreHomosexuality as Deviant3280 Words   |  14 Pagescontroversy regarding homosexuality, as it [homosexualism] is considered deviant and against societal norms. The topic of homosexuality is important and worth further investigation because it is surrounded by controversial issues such as gay marriages and families and its impact on society regarding the workplace, school and religion (Kafka, 2006). This paper will focus on the sociology of deviance as it pertains to male homosexuality. In addition, sociological theories on dev iance will be incorporated, ultimatelyRead MoreSexual Orientation, By Sarah Waters1825 Words   |  8 PagesThroughout human history, various minority groups find themselves the targets of prejudice, discrimination, and even violent acts of hatred. One of the most notable ways in which the struggles of these groups are documented and exemplified is through literature. Sexual orientation, and more specifically homosexuality, is a prominent point of controversy within the world of fiction writing, as well as through the nonfictional history of various societies. Sarah Waters’ Affinity is a prime exampleRead More Family Structure Essay1368 Words   |  6 PagesA family is made up of two or more people, related by birth, marriage, or adoption and residing in the same home. Society’s definition of ‘family’ is expanding and includes single parents, blended families, unrelated individuals living cooperatively, and homosexual couples, among others. Unfortunat ely, family guidelines have been slow to catch up to changing trends in modern lifestyles (Crawford, 1999). The complex family, or a family structure involving more than two adults, was prevalent beforeRead MoreEssay about Bullying and Bullycide1685 Words   |  7 Pagesof bullies are often the targets for various reasons such as being too fat, too skinny, too quiet or in most cases being homosexual. Often times the victims eat lunch alone at school, stay home ‘sick’ or isolate themselves from the outside world to avoid being exploited by the bully. As the life of the victim appears to dwindle away, they begin to withdraw and lash out at family members and friends in anger. In some cases, victims may even take their own life due to the constant bullying. RecentRead MoreLegalization of Same Sex Marriage9779 Words   |  40 Pages CHAPTER 1 THE PROBLEM AND ITS BACKGROUND INTRODUCTION    In our generation today, homosexuals have been widely accepted by the majority may it be a gay or a lesbian. People have come to recognize the existence of the third sex and through time they have also accepted â€Å"same-sex relationships in our society. But controversies and arguments arise when homosexuals started proposing the idea of legalizing same-sex marriage. The issue on legalizing same-sexRead MorePrejudice And Discrimination On Same Sex Marriage Essay1821 Words   |  8 Pagesbeen a number of prejudice and discrimination towards the gay community since the 1980’s where sexual behaviour between the same genders was not considered normal (Hogg Vaughan, 2011). The influence of Christianity encouraged the prosecution of homosexuals which become labelled as a mental illness and considered an act that should be punishable. However, through protesting and fight for equality and gay rights gay marriage became legal in many parts of the world. Taking into consideration the legalisationRead MoreBlack Feminism : A Profound Effect On Society s History3616 Words   |  15 Pagesto mind. It is an essential component of black struggle against oppression and authority. Generally Black feminism is used to empower and liberate black women. Throughout the years many liberals have tried to exclude and silence black feminist. Black fe minist have demanded for social, economic and political equality, and desire a compatible and progressive vision of social justice (Freedman 2002). This is based on the historical and ongoing struggles against the race and gender of black women across

Quantitative Easing Free Essays

Evan Schrager 11/14/2011 Quantitative Easing Research Paper The term  quantitative easing  (QE) describes a process in which the Federal Reserve expands its balance sheet through purchasing back government bonds from financial institutions with electronically created funds. The government purchases, by way of account deposits, give banks the excess reserves required for them to create new money by the process of  deposit multiplication  from increased lending in the fractional reserve banking system. As the supply of medium and long-term government bonds decreases, their prices increase. We will write a custom essay sample on Quantitative Easing or any similar topic only for you Order Now This leads to a decrease in their yield; yields are often a determinant of long-term interest rates, mortgages and most business lending. Since it is easier for individuals to borrow money, consumer wealth increases, which leads to investment and consumption increases as well. Risks include the policy being more effective than intended, spurring  hyperinflation, or the risk of not being effective enough, if banks opt simply to pocket the additional cash in order to increase their capital reserves in a climate of increasing defaults in their present loan portfolio. In the quantitative easing process, the Fed goes to a network of dealers, in search of Treasury bonds. The Fed buys the bonds in a competitive bidding process between the approved bond dealers. The Fed takes a bond certificate and gives the dealers freshly printed US dollars. The transactions are done electronically, but it is still referred to as printed money. The US  Federal Reserve  held between $700 billion and $800 billion of Treasury notes on its balance sheet before the current recession. In late November 2008, the Fed started buying $600 billion in  Mortgage-backed securities. By March 2009, it held $1. 75 trillion of bank debt, MBS, and Treasury notes, and reached a peak of $2. 1 trillion in June 2010. The primary dealers can offer to sell the Fed bonds held by their clients. The newly printed money moves from the Fed, to the dealer, to the client’s brokerage account. Cash is moving directly into the real economy. The customer can buy another bond, buy stocks, use it at the grocery store, or simply keep the cash. Right now, however, cash is earning next to nothing, so investors are motivated to find alternative stores of value. They are motivated to spend or invest their cash. With an ongoing battle taking place between inflationary and deflationary forces in the economy and financial markets, it is extremely important for investors to understand how â€Å"quantitave easing† programs will impact their investments and their long term purchasing power. Since quantitative easing represents a threat to our wealth based on its potential adverse impact, this topic warrants serious attention above and beyond a boilerplate analysis. Common references to â€Å"cash sitting at banks† will give investors a poor read on what quantitative easing is and the possible ramifications for our portfolios and the economy. In order to put QE in context, I will discuss the Japanese deflationary spiral of the ‘90s. Japan suffered from stagflation throughout the 1990’s, so the Bank of Japan instituted a quantitative easing program of its own, referred to as QEP. The QEP consisted of three key elements: â€Å"(1) The BOJ changed its main operating target from the uncollateralized overnight call rate to the outstanding current account balances (CABs) held by financial institutions at the BOJ (i. e. , bank reserves), and ultimately boosted the CAB well in excess of required reserves. 2) The BOJ boosted its purchases of government bonds, including long-term JGBs, and some other assets, in order to help achieve the targeted increases in CABs. (3) The BOJ committed to maintain the QEP until the core CPI (which in Japan is defined to exclude perishables but not energy) stopped declining. † The effect of the Bank of Japan’s liquidity injections on bank lending was muted by the substitut ion of central bank liquidity for interbank liquidity. Second, despite the dampening of the stimulus from the liquidity injections due to this substitution, there was a positive and significant effect of liquidity on bank lending. This implies that quantitative easing can affect the supply of credit, particularly during periods of financial stress. However, the overall effect was fairly small, so that huge amounts of liquidity would have been needed to achieve noticeable effects. Third, weak banks benefited more from QEP than stronger banks. However, â€Å"the rapid unwinding of liquidity infusions observed at the conclusion of QEP had little impact on lending growth once bank health and confidence in the banking system had been restored. † It is possible that QEP exerted ositive effects, but that these were simply overwhelmed by the drag on total spending coming from weakness in the banking sector and balance sheet problems among households and firms. Since there are a number of ways that QEP may have stimulated spending, we can infer that the QE programs in the United States will stimulate some spending as well, but perhaps we will overestimate the effects just like Japan did years ago. When you consi der some of the world’s largest sovereign wealth funds may participate in QE, you can understand the potentially broad impact of the Fed’s actions. The largest ones control billions of dollars. With the currency risk involved when foreigners hold treasury bonds, it is not a stretch to believe that some sovereign wealth funds will be interested in selling some of their treasuries to the Fed in exchange for newly printed US dollars. They may also quickly exchange the cash for gold, silver, copper, oil or stocks to reduce their currency risk. Fears of future inflation can make cash unattractive in the eyes of investors and consumers. A big part of the Fed’s approach is to increase the expectations of future inflation since it can change the investing and buying habits of businesses and consumers. Since there are many unknowns, and many moving parts, listen with skepticism to anyone who claims to know the long term impacts of QE programs on both the financial markets and the economy. † We need to better understand the QE process, and monitor and assess the market’s reaction to details as they are released by the Fed. We must be willing to make inflationary a nd deflationary adjustments based on market internals and economic data. Adopting a â€Å"QE will work or won’t work† approach in advance would be highly speculative. Flexibility is always important in the markets, but maybe more so when it comes to the possible long term impacts of QE. This newly printed money will find its way around the globe, impacting currencies, commodities, and foreign stock markets. According to Brian P. Sack of the NYFRB, â€Å"The effect of asset purchases on the economy remains a point of ongoing debate, with some uncertainty about the channels through which such purchases operate and the magnitude of those effects†¦ In particular, by purchasing longer term securities, the Federal Reserve removes duration risk form the market, which should help reduce the term premium that investors demand for holding longer term securities. That effect should, in turn, oost other asset prices, as those investors displaced by the Fed’s purchases would likely seek to hold alternative types of securities. † â€Å"Nevertheless, balance sheet policy can still lower longer-term borrowing costs for many households and businesses, and it adds to household wealth by keeping asset prices higher than they otherwise would be. It seems highly unli kely that the economy is completely insensitive to borrowing costs and wealth, or to other changes in broad financial conditions. † Notice the references to â€Å"boosting asset prices,† and â€Å"lowering borrowing costs,† and â€Å"adding to household wealth by keeping asset prices higher. From Mr. Sack’s perspective, the Fed buys intermediate term treasuries, which drives down the yield for new investors. Mr. Sack hypothesizes that those new investors will decide to purchase other bonds, perhaps with longer maturities as they search for higher yields. As the Fed pushes demand to other areas of the bond market, longer term interest rates would fall. As new investors look at their options, they may decide to purchase other high yielding assets since the Fed’s actions have made yields on more conservative investments unattractive. Since the Fed promises to remain in the market with QE for an extended period, the risk associated with holding stocks, higher yielding bonds, commodities, precious metals and real estate are reduced. If you think in extremes, if the Fed stated that all treasuries would pay no interest for the next 5 years, investors would move into investments with more risk in search of higher yields. A good way to summarize QE is as follows: QE attempts to lower long term interest rates, keep them low for a pre-defined period of time, while pouring cash into the economy in an effort to boost consumption and investment. Like gold, US dollars have value only to the extent that they are strictly limited in supply. The government has technology that allows it to produce as many US dollars as it wishes at essentially no cost. By increasing the number of US dollars in circulation, or by threatening to do so, the US government can reduce the value of a dollar in terms of goods and services, which is the same as raising the price in dollars of those goods and services. Thus, we can conclude that, under a paper money system, a determined government can always generate higher spending and hence, positive inflation. The important takeaway is the concept, which is to print money, and devalue the purchasing power of US dollars in your wallet/bank account. Based on the government and Fed’s extreme actions during the financial crisis, it is safe to say that we have a determined government. Investors cannot underestimate how determined our government will be, in terms of â€Å"how much money are they willing to print? † and â€Å"what assets are they willing to buy? † For example, if buying T-bonds doesn’t work, what prevents them from moving to corporate bonds, stocks, residential housing, or commercial real estate? That sounds extreme, but five or six years ago, having the Fed buy treasury bonds or having the government take over AIG seemed extreme. But that happened right before our eyes. A problem around the globe is weak balance sheets from consumers to corporations to municipalities all the way up to the United States’ assets and liabilities ledger. There are two ways to address weak balance sheets. You can attack the asset side or the liability side. During recessions, bad debt is removed from the system when entities go out of business, defaulting on their debts. This is a painful part of a recession, but is necessary to allow capital to reform, which eventually leads to new investment and sustainable economic growth. The hard way to address our problems with balance sheets is to let those who deserve to fail go out of business. Unfortunately for the country’s long term outlook, the hard way, or short term pain, does not sit well with those in positions of power—especially politicians, who are always concerned about the next election. This is a huge flaw: we need to think in terms of what is best for the future of our country instead of thinking in the short term. If we need to reduce our standard of living in order to combat the national deficit, then so be it. Americans need to stop complaining about the recessionary conditions and must make sacrifices now in order to guarantee future standards of living. In order to understand all of the bailouts, government takeovers, and money printing, you basically need to think about powerful people in business and government who are simply trying to stay in power, regardless of whether or not their actions are in the best long term interest of shareholders, taxpayers, and ordinary hard working citizens. These comments do not apply to the select few in positions of power who still make decisions based upon sound principles and integrity, but most politicians do not. I’ll stay away from this topic because it is a political issue, but quite relevant so I felt it was worth mentioning. In a healthy credit market, banks lend while consumers and businesses borrow to invest and consume. Demand, based upon available credit, boosts asset prices and profits. As asset prices rise, balance sheets strengthen. With healthy balance sheets, businesses and consumers feel wealthy, and borrow more, invest more, and consume more. This is known as the wealth effect. As asset prices rise, the collateral backing the loans remains sound, allowing the banks to lend even more, and around and around we go, until credit causes the creation of too much supply. A good example is the recent overbuilding in the housing market. Then asset prices begin to fall. Now the wealth effect becomes the reverse wealth effect, as consumers, businesses, and banks begin to see their net worth deteriorate. When the Fed lowers interest rates, they attempt to spur borrowing and lending. This, in turn, can get the wealth effect back into gear, as borrowed money creates demand for goods, services, and assets. In the present day, traditional banks are reluctant to lend, and many consumers either don’t want a loan, or cannot get a loan. In this environment, the Fed, via QE, is trying to spark the wealth effect by attempting to re-inflate asset prices. QE II refers to the decision in November 2010 in which the FOMC announced the purchases of 600 billion longer-term treasury debt. A fair question to ask is, â€Å"Why did we pursue QEII? There are several reasons the government went through with another round of QE. Firstly, the Japanese experience with mild deflation and a near-zero nominal interest rate has been poor. Second, inflation in the US was close to the implicit FOMC inflation target during the first part of 2010. However, during 2010, a renewed disinflation trend developed and the recovery slowed down in the summer of ’10. These developments leav e the US at risk of a Japanese-style outcome. Was QEII effective? The financial markets effects of QEII looked the same as if the FOMC had reduced the policy rate substantially. Specifically, real interest rates declined, the dollar depreciated, and equity prices rose. These are the classic financial market effects one might observe when the Fed eases monetary policy in ordinary times (in an interest rate targeting environment). The QEII experience shows that monetary policy can be eased aggressively even when the policy rate is near zero. However, it is difficult to observe the overall effects of QE and QEII because of the lags involved. Effects on the real economy would be expected to lag by six to twelve months. Real effects are difficult to disentangle because other shocks hit the economy in the meantime. This happened, apparently, during the first half of 2011, and is a standard problem in evaluating monetary policy. Overall, QE2 has shown that the Fed can conduct an effective monetary stabilization policy even when policy rates are near zero. Now I will discuss investment strategies for inflationary and deflationary outcomes of quantitative easing. Inflationary and deflationary forces coupled with possible Fed intervention require a flexible approach to financial markets. Common sense tells us that money printing is probably not the path to long term prosperity, but I do believe QE can impact asset prices in a manner not fully understood by many individual investors as well as many financial advisors. If the Fed is successful for a period of time, I would invest in inflation friendly and weak-dollar assets such as gold, silver, copper, oil, and emerging market stocks. If the Fed fails in the long run, then a deflationary spiral may be the outcome, making cash, gold, dividend payers, conservative bonds, and CDs attractive. Middle of the road choices include utilities, consumer staples stocks, and other dividend payers. Financial markets tend to anticipate Fed announcements. We always have to be on our toes for information/news relevant to QE. If you read the writings of Ben Bernanke and more recently writings by James Bullard, you know the Federal Reserve is willing to use every tool and printing press in their arsenal in attempt to re-inflate asset prices and restore some semblance of the wealth effect. However, we must understand that the Fed faces high hurdles, in the form of mountains of global debt and fragile asset prices. So far, the U. S. has been able to get away with massive debts and unsustainable deficits for one simple reason. The U. S. dollar is still the world’s reserve currency, as it has been effectively since World War II and literally since the early 1970? s. Because all governments and banks in the world accept and hold U. S. dollars as the majority of their reserves, the United States is able to simply print more money whenever it cannot afford to pay for things that it needs. Besides this, the country can borrow money in its own currency at incredibly low interest rates that we have seen approach almost zero. US citizens personally benefit in another critical way every time that they stop to get gas. With the U. S. dollar as the international reserve currency, oil and almost all  commodities  are all priced in dollars. As a result, you see an enormous amount of inexpensive goods available. Food items and other items that use oil/gas as inputs are extremely cheap. This makes restaurants and other attractions affordable in America. The level of wealth seen in the United States is simply unprecedented, and most of this results from the benefits of the dollar as universal reserve currency. There will be dramatic consequences difficult to imagine if the dollar finally ceases to be the reserve currency of the world. Should this happen, then the value of the dollar will plummet. The immediate painful effects will be that commodities prices skyrocket. These would no longer be priced in U. S. dollars, and you would see the falling value of the dollar buy fewer and fewer commodities. Gasoline at five to ten dollars a gallon is not only possible, but highly likely. Along with higher gas prices, we could see higher prices for anything that uses oil to ship goods around the world. This means practically everything that you buy would all cost dramatically more. As prices skyrocket, your lifestyle would sustain a punishing drop overnight. This is a very scary succession of possible events. Unfortunately, this is not the only consequence that you would see of a dollar that is no longer the reserve currency of the world. Interest rates would rise dramatically. They could easily reach ten to fifteen percent. This would wreck the housing market far worse than it is today. It would also cause the stock market to crash by almost half in a number of weeks. As the costs of supplies and materials go up with the falling currency value, businesses would be forced to cut back on  employees  because of their falling sales. Unemployment could reach twenty to thirty percent or more as a result of this. As if this is not bad enough,  inflation  would be sky high along with the rising prices and disappearing jobs. It is important to remember that the only thing that has to occur for all of these terrible things to happen is for other countries to prefer to be paid in anything besides U. S. Dollars. In the event that non-United States holders of dollar-denominated assets decided to shift holdings to assets denominated in other currencies, there could be serious consequences for the US economy. The possibility of QE3 has some serious implications, although Bernanke has denied that there will be another round easing. The dollar has plunged nearly 20% against the euro over the last year and a half, a period that includes the run-up to and aftermath of the last round of quantitative easing, the Fed’s $600 billion bond-buying program known as QE2. But a QE3 may not pack the same dollar-slamming punch. If there is a QE3, the dollar’s fall could easily approach 10% on a trade-weighted basis against rival currencies, said David Woo, head of G-10 global rates and currencies research at Bank of America Merrill Lynch in New York. But â€Å"the market is now more skeptical of the benefits of QE for the economy,† Mr. Woo said. â€Å"It is possible that by extension this means any short-term [dollar] decline on the back of QE3 will be also more limited. † Instead of QE3, Bernanke and the Fed decided to implement â€Å"Operation Twist,† a widely expected stimulus move reviving a policy from the 1960s. The policy involves selling $400 billion in short-term Treasuries in exchange for the same amount of longer-term bonds, starting in October and ending in June 2012. While the move does not mean the Fed will pump additional money into the economy, it is designed to lower yields on long-term bonds, while keeping short-term rates little changed. The intent is to thereby push down interest rates on everything from mortgages to business loans, giving consumers and companies an additional incentive to borrow and spend money. Some reputable names believe the dollar is going to depreciate in value over the next decade or two. Bestselling authors Robert Wiedemer of â€Å"Aftershock† and David Skarica of â€Å"The Great Super Cycle† both forecasted the housing collapse, financial crisis, and stock market collapse years ahead of them happening. They are calling for a collapse of the dollar. This could lead to many unsophisticated investors to â€Å"hop on the train†, causing a swing in technical expectations. QE attempts to lower long term interest rates, keep them low for a fairly well-understood period of time, while flooding the economy with cash in an effort to boost consumption and investment. In my opinion, quantitative easing in the US was a mild success. The markets were in a state of flux and we needed to do something. QE2 was necessary because we needed to increase the scale to which the LSAPs (large scale asset purchases) affected the economy. As for QE3, I don’t believe it is in our country’s best interest, because it would show even greater weakness, leading many foreign investors to flee from the dollar. Somewhere down the line, I predict that the IMF will attempt to overtake the dollar as the world reserve currency, but it certainly won’t happen overnight. If this happens, Americans will have to downgrade their wealthy standard of living due to increased commodity prices. However, I don’t believe the US Dollar will lose its currency reserve status anytime soon, nor do I believe that QE3 will happen. My recommendation is to continue QE in small amounts, unwinding it under Bernanke’s plan from his September speech in Minneapolis. Bernanke has stated that there will be no more easing, but you never know with the â€Å"Bernanke, Obama, Geithner brain trust. † Thus, our best option is to remain flexible in our policy schemes and monitor and react to relevant news as best as we can. Ben Bernanke concludes his Minneapolis speech in an attempt to reassure us that our country will be okay. â€Å"The Federal Reserve will certainly do all that it can to help restore high rates of growth and employment in a context of price stability. † Let us hope they act with rationality and in the best interest of the long term growth and stability of our economy. If America is ever going to dig itself out of the enormous debts it has taken, we must not devalue the dollar to the point that it is phased out as the world reserve currency. Perhaps a downgrade in American’s standard of living is necessary to reduce the deficit by a significant enough margin. There is some hope for a return to prosperity and consistent growth, but Americans need to be aware of the implications of QE on their portfolios and their long term purchasing power. Works Cited 1. United States. Richmond Federal Reserve. By Thomas M. Humphrey. The Theory of Multiple Expansion of Deposits: What It Is and Whence It Came. Mar. -Apr. 1987. Web. 14 Nov. 2011. http://www. richmondfed. org/publications/research/economic_review/1987/pdf/er730201. pdf. 2. A QE1 Timeline. † Calculated Risk, 03 Oct. 2010. Web. 13 Nov. 2011. http://www. calculatedriskblog. com/2010/10/qe1-timeline. html. 3. Ciovacco, Chris. â€Å"Video Series: Quantitative Easing. † Ciovacco Capital Management. Web. 14 Nov. 2011. http://ciovaccocapital. com/videos/qe/index. html. 4. Sack, Brian P. â€Å"Managing the Federal Reserve’s Balance Sheet – Federal Reserve Bank of New York. â€Å"Federal Reserve Bank of New York, 04 Oct. 2010. Web. 13 Nov. 2011. http://www. newyorkfed. org/newsevents/speeches/2010/sac101004. html. 5. Bowman, David, Fang Cai, Sally Davies, and Steven Kamin. Quantitative Easing and Bank Lending: Evidence from Japan. †Ã‚  Www. federalreserve. gov. Board of Governors of the Federal Reserve, June 2011. Web. 13 Nov. 2011. ;http://www. federalreserve. gov/pubs/ifdp/2011/1018/ifdp1018. pdf;. 6. Eichengreen, Barry. â€Å"Dollar’s Reign as World’s Main Reserve Currency Is Near an End. â€Å"Foreign Exchange Report. The Wall Street Journal, 02 Mar. 2011. Web. 13 Nov. 2011. 7. Herold, Thomas. â€Å"What If The U. S. Dollar Loses Reserve Currency Status? † Wealth Building Course, 14 Jan. 2011. Web. 13 Nov. 2011. ;http://www. wealthbuildingcourse. om/dollar-loses-reserve-currency-status. html;. 8. Bullard, James. â€Å"QE2: An Assessment. † Federal Reserve Bank of St. Louis, 30 June 2011 . Web. 13 Nov. 2011. ;http://research. stlouisfed. org/econ/bullard/pdf/Bullard_QE_Conference_June_30_2011_Final. pdf;. 9. Wieland, Volker. â€Å"Quantitative Easing: A Rationale and Some Evidence from Japan†, in  NBER International Seminar on Macroeconomics 2009  (2010), University of Chicago Press   http://www. nber. org/papers/w15565 10. Cronin, Brenda. â€Å"Slow-Paced Recovery Feels Like a Recession. † The Wall Street Journal, 10 Oct. 2011. Web. 13 Nov. 011. ;http://online. wsj. com/article/SB10001424052970203499704576623053674426690. html;. 11. Fontevecchia, Agustino. â€Å"Central Banks Dump Treasuries As Dollar’s Reserve Currency Status Fades. † Forbes, 03 Mar. 2011. Web. 13 Nov. 2011. ;http://www. forbes. com/sites/afontevecchia/2011/03/16/central-banks-dump-treasuries-as-dollars-reserve-currency-status-fades/;. 12. Case, Karl E. , John M. Quigley, and Robert J. Shiller. Wealth Effects Revisited. Yale University, Feb. 2011. Web. 14 Nov. 2 011. ;http://cowles. econ. yale. edu/P/cd/d17b/d1784. pdf;. 13. Rooney, Ben. IMF Discusses Plan to Replace Dollar as Reserve Currency. † CNNMoney, 10 Feb. 2011. Web. 13 Nov. 2011. http://money. cnn. com/2011/02/10/markets/dollar/index. htm. 14. Weisenthal, Joe. â€Å"This Is How The Dollar Could Lose Its Reserve Currency Status. † Business Insider, 15 Nov. 2010. Web. 13 Nov. 2011. http://articles. businessinsider. com/2010-11-15/markets/29973717_1_usd-reserve-managers-dollar. 15. Bernanke, Ben. â€Å"The U. S. Economic Outlook–September 8, 2011. † Board of Governors of the Federal Reserve System, 08 Sept. 2011. Web. 13 Nov. 2011. http://www. federalreserve. ov/newsevents/speech/bernanke20110908a. htm. 16. Hamilton, James. â€Å"5 Key Arguments Against Quantitative Easing. † Business Insider, 20 Oct. 2010. Web. 14 Nov. 2011. http://articles. businessinsider. com/2010-10-20/markets/29967799_1_interest-rate-risk-t-bill-treasury. 17. Johnson, Andrew J. â€Å"Sizing Up Dollar’s Pain From a QE3. † The Wall Street Journal, 05 Sept. 2011. Web. 14 Nov. 2011. http://online. wsj. com/article/SB10001424053111904716604576549220190617158. html. 18. Censky, Annalyn. â€Å"Federal Reserve Launches Operation Twist. † CNNMoney, 21 Sept. 2011. Web. 14 Nov. 011. http://money. cnn. com/2011/09/21/news/economy/federal_reserve_operation_twist/index. htm. ——————————————– [ 1 ]. Richmond Federal Reserve. By Thomas M. Humphrey. The Theory of Multiple Expansion of Deposits: What It Is and Whence It Came. [ 2 ]. Wieland, Volker. â€Å"Quantitative Easing: A Rationale and Some Evidence from Japan† [ 3 ]. Calculated Risk. â€Å"A QE1 Timeline. † [ 4 ]. Videos: Quantitative Easing, Chris Ciovacco [ 5 ]. Videos: Quantitative Easing. Chris Ciovacco [ 6 ]. Bowman, â€Å"Quantitative Easing and Bank Lending: Evidence from Japan. [ 7 ]. Bowman, â€Å"Quantitative Easing and Bank Lending: Evidence from Japan. †Ã‚   [ 8 ]. Hamilton, James. â€Å"5 Key Arguments Against Quantitative Easing. † [ 9 ]. Hamilton, James. â€Å"5 Key Arguments Against Quantitative Easing. † [ 10 ]. Sack, Brian P. â€Å"Managing the Federal Reserve’s Balance Sheet [ 11 ]. Wieland, Volker. â€Å"Quantitative Easing: A Rationale and Some Evidence from Japan† [ 12 ]. Wieland, Volker. â€Å"Quantitative Easing: A Rationale and Some Evidence from Japan† [ 13 ]. Cronin, Brenda. â€Å"Slow-Paced Recovery Feels Like a Recession. † [ 14 ]. Case, Karl E. , John M. Quigley, and Robert J. Shiller. Wealth Effects Revisited. [ 15 ]. Bullard, James. â€Å"QE2: An Assessment. † [ 16 ]. Bullard, James. â€Å"QE2: An Assessment. † [ 17 ]. Videos: Quantitative Easing, Chris Ciovacco [ 18 ]. Eichengreen, Barry. â€Å"Dollar’s Reign as World’s Main Reserve Currency Is Near an End. † [ 19 ]. Fontevecchia, Agustino. â€Å"Central Banks Dump Treasuries As Dollar’s Reserve Currency Status Fades. † [ 20 ]. Eichengreen, Barry. â€Å"Dollar’s Reign as World’s Main Reserve Currency Is Near an End. † [ 21 ]. Weisenthal, Joe. â€Å"This Is How The Dollar Could Lose Its Reserve Currency Status. † [ 22 ]. Rooney, Ben. â€Å"IMF How to cite Quantitative Easing, Papers

Marketing Strategy and Plan Porter

Questions: 1. Porter (1985) suggests that there are two essential routes to achieving long term superior performance: to be the lowest cost producer, or to differentiate products/services in such a way as to offer consumers greater added value in comparison with competitors. Discuss and evaluate this contention, and the role of marketing in creating added value? 2. Kotler and Armstrong (2012, p. 267) describe brand equity as the differential effect that knowing the brand name has on customer response to the product and its marketing. With reference to Apple Inc. critically analyse the strategies that have been employed to create brand equity? Answers: 1. As mentioned in the given statement, Porter was of the belief that there exist two ways of achieving consistently high performance; one is by lowering cost producer and another is by differentiating products as well as services in a manner so as to add value to customers as compared to its rivals. This requires much analysis and discussion to reveal out the true marketing phenomenon. Porter has emphasized greatly upon the need to provide value to customer products and services. His analysis on value chain seeks to understand the organizational activities and relating them to competitive positioning(Raizada and Pall, n.d.). Value chain analysis depicts all organizational activities and corresponding competitive potentials of an organization. It seeks to evaluate what value is associated with products and services by each set of activities. Porter had based this idea upon the perception that a firm is much more than a mere compilation of equipment, machineries, finance and labor. When these factors are arranged in proper systematic manner, then it would enable production of such goods or services that customers would be highly motivated to pay more for something valuable (Ouzrout et al., 2009). He argued that being able to conduct specific activities as well as to manage associations amidst all the activities is itself a major source of competitive advantage. He ha s distinguished primary activities as well as support activities, whereby primary activities relate with the delivery of products or services. These may be grouped into areas such as operations, inbound logistics, outbound logistics, sales, marketing and services (Roll, 2006). Each such activity is related to support activities that enhance effectiveness. Support activities involve technological advancement, procurement, infrastructure, human resource management, etc. Sources: (Kusno, Radityani and Kristanti, 2007) Some thinks about the relation between activities the relations are keys to achieve collaborated success. The links are flowing of goods and services, information, and even systems as well as processes to accommodate activities. The significances may be best understood with instances (Uggla, 2004). If only marketing and sales department generates sales forecasts for henceforth period to various other departments at proper time and with increased accuracy, then procurement would capably order required material within correct date (Leiser, 2004). Also, only if the procurement does effective job as well as forwards information towards inbound logistics, then only operations would schedule production process effectively to guarantee delivering products timely and safely as designed by marketing. As a result, links relate to cooperation as well as flowing of information amidst activities of value chain system. In almost every industry, it is in fact unusual that a firm performs all activities simultaneously to deliver services or products to end customers. Often, firms refer to elements of a value system or that of supply chain. So, analyzing value chain need to cover the entire system of value in operations. Within this system, only a certain level of profit margin is existent. It refers to the distinction amidst the final cost the customer would pay as well as that of the sum of incurred costs aligned to production(Lieven et al., 2014). It relies upon the structure of value system, in what manner the profit margin gets distributed across producers, suppliers, customers, distributors, and others involved in the system. Each of the members would utilize market position as well as power of negotiation for acquiring increased proportion of profit margin(Srivastava, 2009). However, elements of value system may cooperate for enhancing efficiency as well as reducing costs for achieving increase d margin to benefit most. Porters Value Chain Analysis for McDonaldss Sources: (Madhavaram, Badrinarayanan and McDonald, 2005) 2. As mentioned, above discussion on Porters suggestion regarding adding of values to organizational activities may be compared and contrasted with that of principles laid by Kotler and Armstrong. They have referred to the concept of brand equity as the differentiated factor of knowing customer responses of brand name towards product as well as their marketing. Brand equity refers to depicting value carried in a brand name, depending upon the notion that owner of a reputed brand name may generate increased profit margins from products having recognized brand name as compared to that having less-known brand name (Bala and Gupta, 2012). It is because customers of the present century go with all the pomp and reputation of companies. They prefer consuming those products more that have increased market reputation or recognition. Brand name conveys much information about the products or services. It is convenient to remember as well as recall by customers. It even suggests product offerings by the company (Vereshchagin, 2006). For instance, KFC or Kentucky Fried Chicken conveys information about its products. Sources:(Dwivedi and Merrilees, 2011) One such instance can be that of the brand Apple. Apple is not just a Company but it is perceived as the most prestigious brand. It is directly related with the personality factor of customers. Apple is believed to possess an innovative strategy of brand equity which emphasizes upon human emotions. The very basic feeling is that how Apple products make customers feel and what is experienced by them (Fearne, Garcia Martinez and Dent, 2012). The brand personality is largely about lifestyle, liberty, imagination, innovation, hopes, dreams, aspirations and passion. All these are achieved with the help of technology and its advancements. The brand focuses upon simplicity with no complex element involved into its processes and create sustainable connection with its customers. The brand of Apple is not only close with its clients; it is widely loved along with a strong communal sense amidst customers using its main products. Customer franchise as well as brand equity that the Company embodies is quite strong. The increasing popularity of the brand amidst its customers is due to the preferences of customers (Jones, 2005). It even enabled the brand to sustainably maintain effective pricing as compared to its competitors. Although the brand has premium price, yet it would never lose its market grip since its products maintain high quality. This keeps the brand equity intact. The brand thoroughly understands every aspect of marketing and that of customer experience which is reinforced time and again. It has significantly expanded as well as enhanced its abilities to distribute by opening numerous retail stores across important cities around the globe. These stores provide prospective customers with direct experience of brand values (Kim et al., 2011). The visitors of Apple stores experience a null-pressured, stimulating environment to discover more about Apple, trying out various products, get trained and informed about products, etc. The retails are highly cooperative, informative, enthusiastic, and helpful towards every customer or visitor (Shamma and Hassan, 2011). Hence, the overall experience refers to the inclusiveness of community which understands about effective technology and how it may benefit lives of customers. So the contrasting between Porters value chain and that of brand equity by Kotler and Armstrong would state that in value chain analysis, Porter had based this idea upon the perception that a firm is much more than a mere compilation of equipment, machineries, finance and labor. When these factors are arranged in proper systematic manner, then it would enable production of such goods or services that customers would be highly motivated to pay more for something valuable (Kim et al., 2012). He argued that being able to conduct specific activities as well as to manage associations amidst all the activities is itself a major source of competitive advantage. This concept deals with the internal operations and activities of an organization. On the other hand brand equity highlights more upon the recognition of brand names and utilities. The basic underlying principle is that customers increasingly prefer those products and services that possess high brand equity due to their quality and c ompetitive advantages (Severi and Ling, 2013). Brand equity refers to depicting value carried in a brand name, depending upon the notion that owner of a reputed brand name may generate increased profit margins from products having recognized brand name as compared to that having less-known brand name. For instance, Apple is believed to possess an innovative strategy of brand equity which emphasizes upon human emotions (Kumar and Hansted Blomqvist, 2004). 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