Macroeconomics Supply and Pricing

Questions: 1.Explain the purposes for Australias flooding lodging prices.2.Detail macroeconomic arrangements the legislature can embrace to guarantee reasonable lodging for the youngergeneration. Answers: 1. As indicated by the basics of financial matters, the interest, gracefully and estimating of any thing or administrations are interlinked with one another. By applying the equivalent monetary idea, the explanations for the flooding lodging costs in Australia can be clarified (Shearer, Coiacetto, Dodson, Taygfeld, 2016). In the interim, the expanded populace in the metropolitan urban areas and the improved way of life of the Australian people group have been significantly gone about as the drivers prompting ascending in the value level of land and lodging (Roseland, Cureton, Wornell, 2008). In this, the main considerations prompting the occasion have been appeared in the hidden segment as follows: Accessibility of lodging advances at a low-loan fee: The money related establishments in Australia have offered lodging advances to the social open of Australia at a reasonable financing cost. Because of the results, the more Australian open has gone to the metropolitan urban areas for better chances. Hence, the interest of the houses has added to the flooding value level (Steele Gleeson, 2011). Improved way of life and pay level: Currently, outside direct ventures have to a great extent added to the improvement of the social expectation for everyday comforts. Additionally, the pay status of the Australian has been improved significantly. Thus, the most extreme prevalence has proposed to move their business in the urban areas prompting expanding interest for houses (Gurran, Gallent, Chiu, 2016). Along these lines, the flooding interest for the house has prompted expanding in estimating. Reduced gracefully of lodging lands: Another significant factor prompting flooding lodging costs is the conservative flexibly. As the gracefully of land is to some degree steady, the providers can't give the land as per the interest. Along these lines, the interest has outperformed the gracefully of houses fuelling the value climb of houses in Australia. Based on financial matters essentials, the interest side effect and gracefully side effect have been particularly dissected in the segment to recognize how the drivers are prompting value climb of lodging in Australia. Mostly, the low-intrigue advances and improved ways of life have prompted the ascent sought after of lodging constraining the value flood to get inescapable. Figure 1: Impact of Change in Demand of House and Land Source: (Evans, 2014) As appeared in the above figure 1, because of simple credit moderateness and improved salary guidelines of the Australians, the interest bend has been moved to directly from D to D1 however the gracefully stays steady as the straight line S. Because of the move sought after has expanded the value level of lodging to P to P1. Along these lines, definitively it tends to be said that the flood popular prompting value climb of houses. Figure 2: Impact of Change in Supply of House and Land Source: (Evans, 2014) Presently, considering the flexibly situation of accessible lodging lands, gigantic interest of terrains has added to the lack of gracefully as appeared in the figure 2. The gracefully bend is moved towards left from S1 to S2 indicating the lack in flexibly. Thusly, the withdrawal in flexibly situation has fuelled the valuing of hoses from the point P1 to P2. Along these lines, the restricted gracefully of land for the lodging complex has prompted flood in estimating (Parks Hardie, 2013). 2. Australian economy has clear a flooding lodging costs that has brought about a diminishing lodging moderateness for the more youthful age. At the end of the day, the more youthful age of Australia requests all the more lodging property in a constrained flexibly showcase that bit by bit builds the cost of the land properties (Habibis, 2013). Consequently, it is significant for the Australian Government to make important strides so as to control cost of house and land to guarantee reasonable lodging for the more youthful age. There are a few macroeconomic changes that can be made by the Australian Government to control the cost of lodging properties in the market. The investigation has been created to introduce the macroeconomic changes that can be suggested by the Government of Australia so as to improve the reasonableness in the lodging business (Habibis, 2013). The examination additionally centers around clarifying the effect of the macroeconomic changes on the interest and grace fully of house in the market to know how these changes will influence the cost and lodging reasonableness among the more youthful age. The three essential macroeconomic arrangements are talked about in this beneath: Increment Credit to Acquire Property The primary macroeconomic arrangement that can be embraced by the Australian government is to build the credit offices to gain property (Lee, 2009). For instance, lessening charge on contract intrigue, decrease advance to esteem proportions and increment obligation as far as possible. The expense on contract premiums must be diminished to limit the expense of taking care of the acquired cash. Then again, a higher measure of credit can be given in examination the valuation of the house (Kroll, Mller, Haase, Fohrer, 2012). Moreover, expanding the constraint of a person to take credit can likewise build house moderateness. At the end of the day, lessening the use to get credits and offering low premium advances to the more youthful age individuals will expand the moderateness of lodging properties in the Australian market (Lee, 2009). As a matter of first importance, youthful age individuals will have a more extended residency of life and expanding the residency of advances to around 30 years will diminish the EMI installments for the youthful age individuals. Then again, expanding the obligation as far as possible will raise the measure of credit that can be taken from the market. Subsequently, bringing down the loan fee and increment in the gracefully of cash will help the buying intensity of the more youthful age in the Australian market. The Government of Australia must roll out vital improvements in the credit strategy of the banks to expand the capacity of the more youthful age to secure a property. Decrease Taxation on Capital Gains The tax assessment on capital additions goes about as an extra over the complete cost of the property. For instance, an individual buying a house or land needs to pay additional duty over the limited estimation of the property. Subsequently, it expands the weight over the youthful age individuals to buy a house or land on account of the expansion cost of procuring a property (Mills, 2007). Subsequently, the legislature of Australia must decrease the tax assessment on capital additions to lessen a definitive expense of gaining a land or house (Lawrence, 2009). Presently, utilizing the interest law, it very well may be seen that the fall in the cost will expand the amount interest for the land properties. A clarification is given in subtleties utilizing a chart in this underneath: Figure: Impact of decrease in tax collection on capital increases Source: (Yates, 2007) It tends to be seen from the above chart that the last cost or cost of getting a house lessens from P to P1. For this situation, the interest bend stays at its place at D. Henceforth, the consequence of fall in the cost is the expansion in the amount requested for the lodging properties. Henceforth, it very well may be seen that the decrease in the tax collection on capital additions will slowly expand the amount requested for lodging among the more youthful age (Yates, 2007). Be that as it may, it is critical to remember that the interest for house and land is inelastic in nature. Subsequently, the move in the amount requested is very less when contrasted with the adjustment in the cost. Along these lines, it very well may be seen that this macroeconomic approach will be compelling by a base level. Impetuses to Increase Supply Another powerful macroeconomic arrangement that can be utilized by the Australian government is to give impetuses to expand gracefully in the lodging business (Lee, 2009). For instance, permitting more units of house in a specific land, building government lodging and sponsoring open vehicle to expand the gracefully of house and land in the market. Decreasing the territory of house by building more units of houses in a little land can expand the flexibly in the lodging market (Mills, 2007). Besides, building government lodging additionally prompts increment in the gracefully. Besides, financing and creating open vehicle in edge territories will lessen the expense of building a house that will additionally diminish the cost. Consequently, these arrangements can be utilized to expand the gracefully of house that decreases the cost and results in increment in the amount requested (Lawrence, 2009). Subsequently, an expansion in the lodging reasonableness can be clear from the chart intro duced beneath: Figure: Impact of increment in Supply on Housing moderateness Source: (Umeda, 2012) The expansion in the flexibly will bring about move of the gracefully bend from introductory gracefully to new gracefully over the long haul. Henceforth, it will additionally bring about the fall of cost from P to P that will expand the amount requested from Q to Q in the market (Wulff Maher, 2008). In this way, impetuses to build gracefully can be utilized by the Australian Government to guarantee lodging reasonableness among the more youthful age. Henceforth, it tends to be seen from the above investigation that distinctive macroeconomic arrangements can be utilized by the Australian Government to guarantee moderate lodging for the more youthful age. Giving lower intrigue advances, increment credit moderateness, diminishing tax assessment on capital additions and impetuses to expand flexibly can be utilized together to see a superior reasonableness in the lodging business in Australia for the more youthful age. References Evans, A. (2014).Economics, land, and the gracefully of land. Oxford, UK: Blackwell. Gurran, N., Gallent, N., Chiu, R. (2016).Politics, Planning and Housing Supply in Australia, England and Hong Kong. London: Taylor and Francis. Habibis, D. (2013). Australian Housing Policy, Misrecognition and Indigenous Population Mobility.Housing Studies,28(5), 76

How Attitude Roles in Decision Making Essay

Before I can discuss the assume job among demeanor and purchasing choice procedure, let’s take a gander at the meaning of disposition first. Demeanor is a relationship connect among feeling and accepts or a consumer’s considerations and the reaction activity. We can say that mentality is something that is in the people’s mind and the idea of a consumer’s transparency towards the data got by every person. The data got can be both positive and negative. As we would all be able to see that mentality include consumer’s thought which affects the inclination and that feeling will communicate through the consumer’s acting. Presently let’s see what it is implies by dynamic procedure. It is a procedure of picking some path from the entirety of the choices that a shopper has considered with. Regularly, an official conclusion making would be the best and the most appropriate elective which helps purchaser arrives at their target. Disposition is the significant inside factor that shapes an individual decision. Moreover, there are three factors that will prompt consumer’s conduct, which are inclining factors, empowering factors and fortifying components. Inclining factors involve information, convictions, qualities, societies and, obviously, demeanor, which I will concentrate on. Additionally, mentality can be structure by numerous ways. It might be through the learning procedure, the capacity to recognize the distinctions (which one is positive or negative), mirror from others and experienced for every person. These three components impact a consumer’s conduct and it likewise impact the dynamic of that specific shopper. For instance, buyer has encountered that the costly things consistently meet up with the better quality items. What's more, he had confidence in what is really has transpired before, called the intellectual segment. So at whatever point he perceived the issue, similar to he need to purchase another sack (an open door acknowledgment) and attempt to look for all the choices he is happy to purchase or inspired by, you will discover that all the options are for the most part the brand name packs with the significant expense. In another circumstance, a shopper may copy a demeanor of â€Å"being fat methods ugly† from companions and society around her. So it might prompts the dynamic by she is beginning to perceive the issue by believing that she is excessively fat and will group herself as appalling individual, called an emotional part. At that point what she will attempt to do next is the data search, both interior and outer, about how she can decrease her weight, etc. So you can see that a demeanor of a shopper, despite the fact that it originates from your general public around you, can impact an individual’s dynamic procedure without any problem. The capacity of perspectives may likewise job in the dynamic procedure since it encourages devours to adapt to their surroundings. One of the five utilitarian speculations of mentalities is social-alteration work, which is a capacity happen when a general public make a change about something and it drives an individual shopper to build up the disposition toward it. For instance, these days individuals are progressively worried about the ecological in our general public

How Apps Can Be Used for Eating Disorder Recovery

How Apps Can Be Used for Eating Disorder Recovery Eating Disorders Treatment Print How Apps Can Be Used for Eating Disorder Recovery By Lauren Muhlheim, PsyD, CEDS facebook twitter linkedin Lauren Muhlheim, PsyD, is a certified eating disorders expert and clinical psychologist who provides cognitive behavioral psychotherapy. Learn about our editorial policy Lauren Muhlheim, PsyD, CEDS Medically reviewed by Medically reviewed by Steven Gans, MD on February 20, 2016 Steven Gans, MD is board-certified in psychiatry and is an active supervisor, teacher, and mentor at Massachusetts General Hospital. Learn about our Medical Review Board Steven Gans, MD Updated on August 01, 2019 Hero Images, Getty Images More in Eating Disorders Treatment Symptoms Diagnosis Awareness and Prevention New technology in the form of applications (AKA “apps”) offers potential risks and benefits for patients with eating disorders. Dangers of Fitness Trackers for Patients With Eating Disorders Although the impact of fitness trackers on clients with eating disorders has not yet been well studied, anecdotal evidence and some early research suggest these applications may be detrimental. People with eating disorders frequently obsess about the number of calories they are consuming and burning. Many health apps emphasize tracking the ingestion and expenditure of calories. In addition, they encourage the user to reduce intake, increase energy expenditure and set increasingly extreme goals, all behaviors that are consistent with eating disorders. In one study of people with eating disorders, 75% of participants reported using My Fitness Pal, a calorie-counting mobile app that allows users to track and input their daily food intake. Of these users, 73% believed the app had contributed to their eating disorder.   Eating Disorder Recovery Apps On the other hand, there are also several eating disorder recovery apps that may be helpful to people with eating disorders. Some of these applications embody or support principles of evidence-based treatments such as Cognitive Behavioral Therapy (CBT). One particularly important feature that some apps provide is self-monitoring, which is also a hallmark of CBT for many mental disorders. In the treatment of eating disorders, self-monitoring involves recording food consumed along with accompanying thoughts and feelings. App-based self-monitoring offers several advantages over paper monitoring. As most individuals keep their smartphones with them much of the time, using the apps may facilitate more real-time monitoring, providing both greater convenience and accuracy. While fitness apps and eating disorder recovery self-monitoring apps both incorporate tracking, each differs in focus. Fitness apps primarily track numbers and data, such as caloric intake. Eating disorder recovery apps, on the other hand, are concerned more with tracking the thoughts and feelings associated with eating than with the specific amounts. This distinction is significant. Below is information about two of the more popular eating disorder apps that include self-monitoring. Recovery Record A 2014 study by Jurascio and colleagues found Recovery Record to be the most comprehensive eating disorder treatment app on the market. It contains features including self-monitoring, personalized coping strategies, social connections, and a portal to connect with the user’s clinician. It also contains components of cognitive-behavioral based interventions. Users can enter food, thoughts, feelings, and urges to use compensatory behaviors. The app offers assistance with coping strategies and goal setting in addition to the ability to set reminders. Additional features include meal planning, rewards, affirmations, and the potential to connect with others. The app also allows therapists to monitor their patients use of the app. Although many patients find this feature an added benefit, some may feel its intrusive. Rise Up Recover Rise Up is another popular and well-regarded app. Rise Up has a comparable self-monitoring feature that allows for recording of daily meals and snacks, emotions, and “target behaviors” such as bingeing and purging. The app encourages the use of coping skills during times of distress. Users can share motivational quotes, images, and affirmations. They can access additional information sources such as music, podcasts, articles, and a treatment directory. The app can also export meal data to share with members of the user’s treatment team. What to Look for in an Eating Disorder Recovery App Apps come and go. Depending on when you read this, the suggestions above may no longer be state of the art or available. Finding an app with the right features is more important than any specific title. We offer the following suggestions on what to look for: Self-monitoring of food intake without calorie counting. Self-monitoring is a well-researched and important element of eating disorder treatment. Calorie-counting, however, is not recommended because it may increase obsessive thinking.Fields to log behaviors, thoughts, and feelings. Recovery involves becoming more aware of feelings and thoughts as well as changing behaviors. Thus, an app used for recovery should have fields to log this information.Motivation and/or coping strategies. Apps that incorporate ways to remind you of what you might want to try or already know (but can need a reminder at the moment) can be supportive. A Word From Verywell Remember that an app is not a substitute for treatment. It is always a good idea to discuss the use of an eating-related app with your treatment team.

Digital And Digital Immigrants By Marc Presky - 1668 Words

The article â€Å"Digital Natives, Digital Immigrants by Marc Presky, appears in the book On the Horizon. The article asserts that due to the the anacrusis of the digital age, this generation has changed dramatically, thus, it is no longer possible to reach them through obsolete teaching methods, as it comes close to teaching them in a foreign language. In order to solve this issue, Presky suggests that we need to update our methodology in order to fit today’s needs better. In the beginning of the article, Prensky implies that student have changed dramatically, thus, are no longer the correct audience for our education system. He goes on by explaining that this change is not exactly a diversification, as in clothes, slang or the†¦show more content†¦Digital Natives, Digital Immigrants. Page. 2 - 2001), as he emphasises it. To furthermore clarify this term, he names many examples such as â€Å"bringing people physically into your office to see an interesting web site† (Prensky, Mark. Digital Natives, Digital Immigrants. Page. 2 - 2001) instead of â€Å"sending them an email† (Prensky, Mark. Digital Natives, Digital Immigrants. Page. 2 - 2001). Prensky complicates this matter when he embeds it into school routine. He endorses that to digital natives it feels like they are being taught by foreigners who have no wrap their head around English language yet. However, this is a dilemma that only starts, rather than ends, at the lack of communication. By introducing another example, he disputes that there is also a quarrel in the way of thinking in general. Digital natives, for example, believe that studying should be fun and could easily be done, while, for example, watching TV. This Digital Immigrants, however, deny up to this day; simply because they were not capable of doing all those things, while they were young. He then reminds us that, in spite of prevailing belief, one cannot simply presume that students function the same way their teachers did when they were in school. As a result of this, he enters the debate whether â€Å"students should go back to their old ways or if teachers should have to learn this new language† (Prensky, Mark. Digital Natives, Digital

Advantages and Disadvantages Of The Louisiana Purchase - Free Essay Example

Sample details Pages: 3 Words: 997 Downloads: 7 Date added: 2019/10/31 Category History Essay Level High school Tags: The Louisiana Purchase Essay Did you like this example? The Louisiana Purchase constituted many advantages and disadvantages for President Thomas Jefferson and for the country. Some of the moral dilemmas included were, whether to purchase Louisiana and turning on what the constitution says. Jefferson believed in strict constructionism meaning he found ways to incorporate ideas for certain instances into the constitutions laws that werent initially written in there. So, while he is having a hard time figuring out whether he should purchase Louisiana, he is also worried about what people may think of him if he disobeys the constitution.   The Louisiana Purchase posed many advantages for the country. Jeffersons decision to buy Louisiana expanded the U.S. massively. By any measure, it was one of the most colossal land transactions in history, involving an area larger than todays France, Spain, Portugal, Italy, Germany, Holland, Switzerland and the British Isles combined (Harriss). If Jefferson would not have made the purchase, the U.S. lands would not be the same. Another advantage to the situation was the underground features. The new land flourished in gold, silver, and many other ores that people would eventually mine and use as currency (Harriss). This meant that more people would immigrate to the United States, increasing the population. With the population increasing, the U.S. needed more housing and jobs available. People began to build up cities and towns until there was more than enough room for everyone. The expansion also led to more agriculture and farming, benefitting the people (paying jobs) and the countr y (Harriss). As people worked in farming, money was made, and the country eventually acheived wealthiness. This contributed to the building of roads and new businesses. The U.S. continued to grow beneficially because of Jeffersons decision. Although there were many influencing aspects of purchasing Louisiana, there were also some downfalls. Don’t waste time! Our writers will create an original "Advantages and Disadvantages Of The Louisiana Purchase" essay for you Create order Since the purchase expanded the U.S. so greatly, they came across problems that affected how the country grew. Thomas Jefferson was a huge public figure and was viewed as a positive influence to many people, but there were some that did not agree with his ways. He was known for being the one to make sure what he wants to do is done in a constitutional manner. When people accused Jefferson as being unconstitutional because of his strict constructionism, he made sure to prove them wrong. Jefferson had always stated his strong belief that the federal governments powers should be interpreted strictly. Article IV of the Constitution said new states could be added, but made no provision for taking on foreign territories, Jefferson argued that a constitutional amendment was needed. (Jefferson and the Louisiana Purchase). Jefferson struggled to convince the government that there were no rules against buying foreign lands. He eventually decided to try to justify the situation. He wrote in 180 3, The General Government has no powers but such as the Constitution gives it. it has not given it power of holding foreign territory, and still less of incorporating it into the Union. An amendment of the Constitution seems necessary for this. (Jefferson and the Louisiana Purchase). All of this to say, Jefferson did not have a strong bond with his people, and this negatively affected the way the U.S. grew. Along with Jefferson being frowned upon for his doings, there were other disadvantages to the Louisiana Purchase. Before the purchase, France had just taken control over Louisiana. After the U.S. took over Louisiana, Jefferson found out this information and instantly felt differently about the situation. French-controlled Louisiana would become a point of eternal friction with us, he wrote in April 1802, and would force us to marry ourselves to the British fleet and nation. (Greenspan). This instance created some tension between the two countries. Another complication was that of people of the U.S. having an opinion about buying Louisiana. Fisher Ames wrote, We are to give money of which we have too little for land of which we already have too much. (Greenspan). The U.S. had already claimed a lot of land and people began to think that it was too much. Jefferson did not think much about this and still bought it.   Was Thomas Jefferson a bad president? In my opinion, no, he was not a bad president. Jefferson may have used strict constructionism during his presidency (although some did not like it), but it truly exploited the United States future decisions and doings. While Jefferson was president, he accomplished many things. While president, Jeffersons principles were tested in many ways. But Jefferson stood firm in ending the importation of slaves and maintaining his view of the separation of church and state. In the end, Jefferson completed two full and eventful terms as president. He also paved the way for James Madison and James Monroe, his political prot? ©g? ©s, to succeed him in the presidency. (Thomas Jefferson Establishing a Federal Republic). As the article says, he did not back down on his beliefs. He stayed loyal to the country and made it possible for others to become president as well. Jefferson will always be remembered for his intelligent decisions. He led his country to gr eat places and is thanked for doing so.   In the end, I think that purchasing Louisiana had its ups and downs but each one benefited the United States. For better or for worse, I believe that the U.S. would not be where it is today without the Louisiana Purchase. Though we may have had some complications, this decision impacted the country in many ways and could not have been done without Thomas Jefferson. At the beginning, he was not fully trusted but people warmed up to his strict ways and realized that he knew what he was doing. Thomas Jefferson had some moral dilemmas along the way, but they challenged him to be the best president that he could be. He stood strong on his beliefs and never backed down which allowed people of the country to count on him for loyalty.

American Online Case Study Free Essays

Q1: The major explanations to the reason why AOL was so successful in the commercial online industry comparing to its competitors CompuServe and Prodigy are as follows:  · AOL offered the unique and board range of features such as Online Community, Computing and the like, so their services are relatively differentiated  · AOL kept good relation with its customer because of the easy access to AOL’s online service which only required to have a personal computer, a telephone line, and a computer, and also reflected in AOL’s rate structure which was the easiest for consumers to understand and anticipate, relative to its competitors  · The bargaining power of AOL with supplier is achieved by making strategic partnership with American Express, and so on; and completing its acquisitions of Internet software developers, along with AOL’s growing membership base, in order to strengthen its new interactive services industry by means of pursuing a number of initiatives .  · The threat of new enchant is low, since there is not much service providers, like AOL, acted as middlemen between thousands of content providers and millions of customers, which provided lucrative profits prior to 1995. Q2: There are several crucial changes happened in the commercial online industry in the year of 1995 and after:  · With the advent of the Internet World Wide Web and the entrance of Microsoft Network, content providers had substitution distribution channels that offered greater control over their products  · Under the background that the migration of proprietary services and content to Web sites, the exclusive offerings of AOL was declining, thus it was likely reduce the market share of AOL in the industry and subsequently posed negative effect on its profitability  · Since everyone with a PC was his/her own publisher, customers would sign up for an Internet on-ramp service provided by other companies and they were tend to use the other companies’ browsing software to surf the world’s database, resulted in the situation that content providers were starting to make use of these distribution channels. We will write a custom essay sample on American Online Case Study or any similar topic only for you Order Now Q3. Based on the annual reports and footnotes, AOL’s accounting policy was to capitalize subscriber acquisition costs prior to 1995, which in my view, was not likely to be justified in that period based, for the uncertainty whether ts customers could migrate to the internet still remained since this would probably affect the growth in its subscriber and the profit of its services, although the CFO of AOL attributed the choice to the explanation that the period over which the revenue would be received was matching with the timing the expense, yet there was a rising gap between the reported income and its tax income, except for a big change in its service quality, these two numbers bear a consistent relationship to each other. Q4. The company should shorten the length of amortisation of the acquisition costs instead of extending it. The reason of this assertion are based on the life cycle of the industry which was supposed to be relatively short and because of the constantly cha nging environment of the commercial online industry with huge uncertainties, which was likely to require conservative accounting policy to reflect the financial figures so as to better match revenues with expense. Nevertheless, AOL even extended the amortization period for its subscriber acquisition cost from about 15 months to 24 months, which made it would be tend to face big risks when customers switched to other online service under uncertainty. Therefore, the company’s response seems to be inconsistent with my view. Q5. If AOL followed the policy of expensing subscriber acquisition outlays rather than capitalizing them, there would be a huge amount of subscriber acquisition costs, leading to a comparatively decreasing profit and increase operating loss in the income statement as well as lower equity in the balance sheet for the last same period or compared to its peers, which might lose the attractive looking of the accounting figures when it was eager to raise money from the public market so as to pay its bill. How to cite American Online Case Study, Free Case study samples

Bond Valuation Share JAY and KAY Returns â€Myassignmenthelp.Com

Questions: Consider shares in two companies, JAY and KAY, as follows: Expected Return E(R) Standard Deviation s Correlation Coefficient r Share JAY 12% 18% 0.3 Share KAY 24% 32% a) Calculate the covariance between Share JAY and KAY returns. b) What is the expected return and standard deviation of returns on a portfolio comprising 35% in Share JAY and 65% in Share KAY? c) If you wanted to create a portfolio consisting only of these two shares, how much would you need to invest (weights) in each share so that your portfolio return would be equal to 15.6%? Note: do not round. d) Using the weights calculated in part c); calculate the variance and standard deviation of your portfolio. Answers: (a). Covariance between Share JAY and KAY returns: - To calculate the Covariance between Share JAY and KAY returns following formula is used:- = Standard Deviation of JAY * Standard Deviation of KAY *(Correlation Coefficient) = 18 *32 *(0.3) = 172.6 Hence, Covariance between Share JAY and KAY returns is 172.6 (b). (i) Expected Return: - Expected return means that the return the investor can expect in the future. It is not the accurate return but only expected return. Expected Return = Weight of JAY *(Expected Return) + Weight of KAY * (Expected Return) Expected Return = 0.35*(12) + 0.65 * (24) Expected Return = 19.8% Hence, the Expected Return is 19.8% (ii) Standard Deviation (WA2a2 )+ (WB2B2 )+2 (A*WA*b *WB)* Correlation Coefficient (0.35*0.35*18*18)+(0.65*0.65*32*32)+2(18* 0.35*32*0.65*-0.3) 39.69+32.64 -78.624 393.706 = 19.84 (c). If a portfolio is to create consisting only of these two shares, and to make the portfolio return equal to 15.6% then the investment is to be made of :- Let assume the weight of JAY is W, then the Weight of KAY WILL BE 1-W Desired Portfolio Return = 15.6% 15.6% = W*12%+ (1-W)* 24% 0.156 = 0.12W +0.24- 0.14 W 0.156 -0.24 =-0.12W 0.084 = 0.12W 0.084 / 0.12 = W 0.7 =W Expected weight which is earned is 15.6% Then weight of JAY (W) will be 70% Weight of KAY (1-W) will be 30%. (d). (i) Basis on the above calculation revised Standard Deviation is:- New Weight Standard Deviation JAY 70% 18 KAY 30% 32 = (0.70 * 0.70 *18 *18) + (0.30 * 0.30 * 32 * 32) + 2 (0.70 *18*0.30 *32 *- 0.3) = 158.76 + 92.16 -36.288 = 214.632 = 14.65 (ii) Variance is the square of standard deviation Variance = () 2 = (14.65) 2 Variance = 214.62.

John Proctor As A Tragic Hero Essays - Salem Witch Trials

John Proctor As A Tragic Hero The Crucible, written in 1953 by Arthur Miller is an accurate portrait of the which hunts and trials in Salem Massachusetts during the 17th century. The story revolves around a man named John Proctor. Over the course of the book, John proctor goes from just being an observer in the which hunts, to having his wife accused, to being accused himself and eventually hung. John Proctor, a tragic hero, died due to his own faults. John Proctor lived out his life as a noble Christian man. He can be described as even tempered, and not easily led and also respected and even feared. He is also stubborn and possessed a strong sense of right and wrong. Of all of the characters is the book, Proctor was obviously the most skeptical. All of these are some of the traits that caused him to become a tragic hero. Over the course of the book, John Proctors state of mind changes greatly. During the beginning of the book he is relatively happy and content in his life. As the story progresses he becomes more and more angry and distraught. This is particularly evident in the quote We are what we were in Salem, but now the little crazy children have the keys to the kingdom, and common vengeance writes the law! This warrant's vengeance! I'll not give my wife to vengeance!after his wife becomes accused and put on trial. It is ironic that only just before his death that proctor finally peace with his wife but cannot live with her happily ever again. One of the most substantial pieces of evidence of John proctor being a tragic hero is that he died due to his own faults. All of his misfortunes in the story can be traced back to the biggest mistake he ever made. That mistake was Abigail Williams. His affair with Abigail caused Abigail to jealously accuse Proctor's wife of witchcraft in an attempt to get rid of her. Being the good person he is, Proctor stood by her and tried to defend her innocence. As the trial progresses, John Proctor himself is accused of witchcraft by his former servant Mary Warren. He is eventually condemned by his own big mouth at the end of act 3, For them that quail to bring men out of ignorance, as I have quailed, and as you quail now when you know in all your black hearts that this be a fraud- God damns our kind especially, and we will burn, we will burn together! This quote is from when John Proctor is so angry that he lashes out at the situation, and ensures to everyone is the court that he is guilty. In conclusion, John Proctor obviously fits the description of a tragic hero, he is a good and noble person, he goes from happiness to misery, and the cause of his death was his own faults. John proctor was a good person, but his own faults brought his demise. American History

Concepts of HP Laptops

Concepts of HP Laptops Introduction Todays business and leisure activities run smoothly due to the emergency of new and supportive technologies. For example, since the emergency of personal laptop computers, people are able monitor their personal finances from time to time.Advertising We will write a custom coursework sample on Concepts of HP Laptops specifically for you for only $16.05 $11/page Learn More Moreover, networking, documentation and online chats keep on asserting new opportunities to lives of many. Numerous companies ranging from Dell to HP are manufacturing laptops for their clients. In order to make sure its laptop industry undergoes a revolution, Hewlett Packard Company has enacted modalities to create a viable market for their laptops. Market Structure for HP laptops Over the recent years, HP laptops are the most sold in the market. The dominance in the market is because of their resilience in price control and upgraded technologies. Information technologists argu e that, HP is able to regulate market economy through its peculiar products. The quality of HP laptops is not a selfish guarantee of aggressiveness in the market, but rather market protectionism and increased sales. In 2008, the number of HP laptops sold was greater by two million as compared to the second placed Dell laptops. The switch from personal computer desktops to laptops is responsible for HP laptop markets structure. The market structure of HP laptops created because of increased shares, continue to outburst the laptop industry. HP laptops furnish both small and large enterprises through dyed-in-the-wool product contours. Moreover, HP laptops dominate markets due to aggressive selling and excellent channel strategies that spout the ever-growing market segmentations. In fact, this explains why the market structure of HP laptops is bursting. (Kerridge, 2009, p.1).Advertising Looking for coursework on engineering? Let's see if we can help you! Get your first paper wit h 15% OFF Learn More Indeed, competition is high in the market. For other laptop manufacturing companies to increase their sales, they must overshadow HP products must first something that needs a lot of effort and finances. The increased sales from HP products are because of proper branding strategies that helped in achieving market recognition. Increased HP shares are due to higher revenue generated from potential sales. Competitor companies like Dell, Acer and Toshiba are struggling to create brawny and superior illustrations, which will attract customer to buy their products (Display Search 2010, p.1). Possible Strategies of HP Laptop Competitors HP has theme in their business outsourcing strategies and this is being a market leader of computer laptops. If other competitor companies are not up to the task of creating market strength of their laptops, then there is no way out they can create pressure on HP products unless they come up with innovations in the lapto p technology. Competitor companies presently also manufacture same commodities ranging from monitors to laptops something that HP has already done; hence, the need to come up with innovations to meet the ever increasing market competition they face from HP. Other possible strategies from HP laptop competitors include cutting the price of their products between 14 and 20 percent to induce a war price market. Some companies like dell have now embarked on server growth mechanisms, which will act like an entry point into the HP monopolistic market. It is true that HP does not dominate all markets in the world. As a way to bring competition, competitor laptop manufacturers should embark on opening new market places all over the world especially in places where HP products do not dominate the market. On the other hand, it is important to note that, these HP competitors are now engaged in laptop up gradation to give them an upper hand over HP laptops. This has really helped these companies in attracting more customers toward their products.Advertising We will write a custom coursework sample on Concepts of HP Laptops specifically for you for only $16.05 $11/page Learn More Conclusion In order to increase their sales through competition, I would like to see HP competitors launch new and featured laptop computers. For example, they can manufacture laptops with inbuilt TV tuner cards and modify the keyboard to a lighting one. Another modality to counter HP laptops is to manufacture laptops that sell at a cheaper price. In addition to that, these companies ought to make numerous advertisements so that their commodities become conversant to customers. This will boost customer loyalty hence sales and greater revenue generation. Reference List Display Search, 2010. HP Maintains 20% Worldwide Notebook PC Market Share in Q1’08; Gains Share on Rivals in 5 of 6 Regions; Mini-Note PC Market Forecast to Grow to More Than 13M Units in 2008. Display Search.  Web. Kerridge, M., 2009. The HP Laptop Industry. Linkvana.  Web.

Human Development observation Essay Example | Topics and Well Written Essays - 750 words

Human Development observation - Essay Example It is located fifteen meters away from the main road. On observation, the playground is an ideal place for this activity because there are no trees or many other obstacles that may impede the observation process. The playground is not so wide but enough for the child to be seen. In one corner of the playground are play equipment such as seesaw, swing, slides, and other play equipment for climbing. Physical description of the subject The child involved in the observation is approximately one to two year old boy. On observation, he has all the stamina to climb on some small steps in one corner of the playground. He is chubby with observable fold on his upper extremities. The child has the creativity and imagination to explore his new environment for the moment. He was brought to the playground by an aunt. Although the child tends to have developed muscles, his stomach is observed to be disproportionately bigger and the head larger. Interactions Observed The child and the aunt were alre ady on the playground when I arrived for observation. They were in close proximity. On a distance, I saw the aunt showing the child a stone that she picked from the playground. The child is so curious with the stone that he wants to hold it. However, when the aunt hid the stone at her back the child actively tries to search for the missing stone where it disappeared. This is evident when the child went at the back of his aunt’s back and pushed her away just to locate the stone. This reaction of the child is in congruent with Piaget’s theory where he explained in his sensorimotor stage that the child behaves this way because they have the belief that object continues to exist even if they disappear (santrock & Yussen, p 41). After some time, the aunt started to walk away from the child but the child followed her and tried to hold her hands in protest to be left alone. This shows that the child has still doubts on other people around him or to his environment in general. His reaction explains that he did not yet surpass the first stage of Erikson of trust versus mistrust. In addition, the child showed signs of separation problem as reflected in his anxiety when attempt to leave him is initiated. After a minute, the child and her aunt walk hand in hand toward some plants where there are butterflies. With excitement, the child tries to say something to the butterflies however, the language is not fully understood as he mumbles and can speak two words combination just yet. When other children tried to join him in watching and catching butterflies, he screamed and even tried to kick them to shove them away. The aunt tried to pacify him telling him that the action is something â€Å"bad†. When the aunt was able to catch a small butterfly, the child is so excited but at the same time confused if he is going to hold it or not. His aunt tried to teach him how to do so and explained it would not hurt. Behaviors Observed The behaviors observed in a ch ild include the child’s aggressiveness as he tried to grab toys from other children on the playground. When one child from the playground tried to get the butterfly he was holding, he screamed at them and tried to be aggressive. I believe the child is displaying a normal behavior of an infant who is one and a half years old. However, if aggressiveness continues and becomes excessive, lack of social skill is evident. At some point, as he follows

Harbor Cay Condominium Collapse Research Paper Example | Topics and Well Written Essays - 2750 words

Harbor Cay Condominium Collapse - Research Paper Example On the design aspects the teams identified that the slabs were slim compared to the standards offered by ACI. The used slab had 8 inches whereas the minimum requirement is set at 11 inches. The process of punching shear was overlooked when designing the slabs. The structural engineer, who retired from NASA, also failed to make the necessary calculations on concrete requirements such as beam shear and column reinforcement spacing. Harbour Cay Condominium was designed to be a medium sized building with a total height of 242 fees and 58 feet in width. The preassembled plywood was made from flying form where they constructed the floor slabs, 8 inches thick. The east side of the building hosted a detached elevator tower whereas the north and south ends were occupied by the stairwells. The building had both exterior and interior columns that measured 10 x 12 and 10 x 18 inches respectively. The structural engineer advocated for above-grade concrete to be used, with strengths of up to 4,000 psi. 11 There were pile caps supporting exterior slabs. Floor slabs were placed twice per week with the first session covering half the total space. The roof plan indicated it would be cast in one day. Harbour Cay Condominium was near completion when it collapsed. The concrete was already placed on the flying forms of the roof when things changed. The construction workers were pouring concrete on the roof slab when a loud crack was heard and it all fell like a house of cards. Witnesses reported that the fifth floor fall first. The upper floor fell on the lower ones leading to comprehensive total building collapse (Lew, Center for Building Technology, & United States, 1982). There reports indication that the workers had reported presence of web like cracks on the slabs with increased deflection of about 2 inches. The structural engineer was summoned to address the situation, but he insisted that it was not a big dal considering the progress made.

The Price Of Elasticity Of Supply Economics Essay

The Price Of Elasticity Of Supply Economics Essay The price of elasticity of supply assesses the sensitiveness of the quantity supplied to a change in the price of a good when all other influences on selling plans remain constant. It can be calculated by using the formula: PES = Percentage change in quantity supplied Percentage change in price The two determinants of price elasticity of supply are resource substitution possibilities and time frame for the supply decision (Parkin 9th edition pg97): For resource substitution possibilities, it means that only some goods and services can be produced only by using special or rare productive resources. Such items have low and sometimes even zero elasticity of supply because items like that are hard to be substituted. For example, cars and tyres. As the price of rubber rises, the quantity supplied will reduce by only a little because people still need tyres for their cars. It is difficult to find another raw material for tyre because the input factor of production is rare and therefore, the price elasticity of supply will be inelastic. The second determinant is time respond for the supply decision. For instance planting maize. It takes a few months to produce maize that even if the price changes, the farmer will not be able to do anything. Reason being so is that when the price of maize fluctuates, the time taken for maize production will remain constant. Thus, the price elasticity of supply will be inelastic if the production is long. Price QS 40% 20% S Based on the diagram, it shows that price increase is greater than the quantity supplied. The two determinants of price elasticity of supply are resource substitution and time frame for supply decision. Part B Price elasticity of demand (PED) is a unit free measure of the responsiveness of the quantity demanded of a good to a change in price, when all other determinants on buying plans remain the same. The formula used to calculate PED is(Parkin, 9th edition pg 86): PED = Percentage change in quantity demanded Percentage change in price Businesses use the price elasticity concept to decide on their pricing strategy based on three ranges of elasticity namely inelastic, elastic and unit elastic demand. When the percentage decrease in quantity demanded is less than percentage increase in price, it is said to be an elastic demand. Goods that are categorized under inelastic are considered necessities and therefore when business increase the price to obtain more revenue, the demand will still be there. An example would be smokers and cigarettes. If the price of cigarettes is now rm10 a pack, quantity demanded is 50 but when price increase to rm15 a pack, quantity demanded becomes 45. The above diagram is an example of the relationship between the change in quantity demanded and change in price. The elasticity is more than zero but less than one, which means it is inelastic and smokers will still continue buying cigarettes despite the price increase. When the percentage decrease in quantity demanded but greater than one exceeds the percentage increase in price, then it is an elastic demand. Goods that have an elastic demand are luxury goods because the goods have many substitutes, for example Nike shoes. If the price is rm200, then quantity demanded is 100 but once the price increases to rm220, the quantity demanded will fall to 70. This is because the customers can resort to other brands. The elasticity is more than one which means customers are sensitive to the change in price. The diagram shows that even though the price increases only by a little bit, but the quantity demanded decreased by a lot because goods like that can be substituted easily. When the percentage decrease in quantity demanded equals to the percentage increase in price, then it is a unit elastic demand. In cases like that, businesses should neither increase nor decrease the price of goods because a change in price will change the quantity demanded. An example would be chewing gum. The initial price is rm1, and quantity demanded is 200 but once the price increases to rm2, the quantity demanded will decrease to 100. By using the concept of price elasticity, businesses can decide whether to increase price (inelastic demand), reduce price (elastic demand) or not to change the price (unit elastic demand) in order to maximize revenue. Question 3 One of the factors of supply is the prices of factors of production. A decrease in price of production will directly correlate to an increase in supply. This is because if the price of a factor of production used to produce a good decreases the minimum price that a supplier is willing to accept for producing each quantity of those good decreases. So a decrease in the price of a factor of production decreases supply and shifts the supply curve rightward. Another factor is the price of related goods produced. A substitute in production of a good is another good that can be produced using the same resources. The supply of a good increase if the price of a substitute in production falls. Goods are complements in production if they must be produced together. The supply of a good increase if the price of a complement in production rises. Expected future prices are another determinant of an increase in supply. If the price of a good is expected to decrease in the future, the supply of the g ood today increases and the supply curve shifts leftward. b) A price ceiling or price cap is a regulation that makes it illegal to charge a price higher than a specific level. If the price ceiling is set above the equilibrium price, it has no effect. The market works as if there were no ceiling in the first place. Inversely, if the ceiling were to be set below the equilibrium, its effects are far greater. If the level of price equilibrium is above the price ceiling, in order to achieve price equilibrium one would have to enter to illegal region. Other mechanisms thus come into place in order to eliminate the shortage created by the price cap. Search activity and black markets are some of those mechanisms and consumers are willing to pay a higher price in order to obtain the goods due to the shortage. A price ceiling decreases the quantity supplied to a less efficient quantity resulting in a deadweight loss. A further shrink in consumer and producer surplus further enhances the potential loss from search activity. A price floor is a regulati on that makes it illegal to trade at a price lower than a specific level. If it is set below the equilibrium price, there is no effect. Effect only takes place if set above the equilibrium price. Price floor leads to an inefficient outcome. A minimum price is set above the equilibrium and decreases the quantity demanded. A deadweight loss thus arises due to a decrease in consumer and producer surplus. Question 5 Part A Demand refers to the quantity of a good that potential buyers would be willing and able to buy or attempt to buy at a different price level. The law of demand states that there is an inverse relationship between the price of a good and the quantity demanded in a defined time period. Quantity demanded of a good or service is the amount that consumers plan to buy during a given time period at a particular price.(McConnell,Brue Flynn Economics 18th edition) A decrease in demand will result in a leftward shift in the graph and there are six main factors influencing it. The first factor is the prices of related goods. Assume if a comparison is made between hamburger and hot dog. If the price of a substitute for hamburger rises, people buy less of the substitute and more hamburgers. The demand for hamburger will rise and demand for hot dogs will fall. Then there is also complement which is a good that is used in conjunction with another. For example, fries and hamburgers. If the price for hamburger increases, people will not buy so much fries and hamburgers. There will be a decrease in demand. The next factor is expected future prices. If a good, for now will decrease because people would want to buy it at a cheaper price. The third factor is income. When income rises, consumer will buy more goods but when it decreases, they will buy less of those goods. A normal good is one for which demand increases as income increases. Inferior good is one when demand will decrease as income increases. Next factor that will decrease a demand is when expected future income and credit falls. For example, when a sales person knows her income will fall in the future, she will have to spend wisely and not splurge on goods. Another factor is when the population decreases. For example in the 1990s in America, a decrease in the college-age population decrease the demand for college places. Lastly would be preference. If there is poor or no environmental awareness, it will shift the demand curve for recycled items or even eco-friendly bags to the left. The diagram shows a leftward shift on the demand curve. Unlike the demand curve, the quantity demanded curve will bring an upward movement on the diagram, instead of a shift and the only factor that influences it is price with all other determinants on buying plans remain constant. According to the new law of demand, higher price will cause a decrease in demand. From the diagram, a decrease in quantity demanded will cause an upward movement when price rise from P0 to P1, quantity demanded falls from QD2 to QD1. An example would be the rise of price of apple from P0 to P1. It will decrease the quantity demanded to QD1. There are a few differences between a decrease in demand and decrease in quantity demanded. First, decrease in demand will show a leftward shift in the graph but decrease in quantity demanded shows an upward movement. There are six factors influencing the demand to decrease but only one that influence the quantity demand; price. Part B Income elasticity of demand (YED) is the ratio of percentage change in the quantity demanded of a good or service to a given percentage change in income. YED indicates the responsiveness of demand to change of household income. To calculate YED.(McConnell,Brue Flynn Economics 18th edition) : YED = Percentage change in quantity demanded Percentage change in householdà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s income The three degrees of YED are positive, negative and zero. For positive YED, it is further categorized into two types which are income inelastic (01). For income inelastic, the percentage increase in quantity demanded is positive but less than the percentage increase in income. When the demand for a good is income inelastic, the percentage of income spent on that good decreases as income increases. Those will be considered normal goods such as clothes, food and travel. But for income elastic demand, the percentage increase in quantity demanded exceeds the percentage increase in income. When the demand for a good is income elastic, the percentage of income spent on that good increases as income increases. For example, if the price of a doughnut is constant and 9 doughnuts an hour are bought. So when income rises from rm975 to tm1025 a week, the quantity of doughnuts sold rise to 11 an hour, ceteris paribus. The change in quantity demanded is 2 and the average quantity is 10 doughnuts, so the quantity demanded increases by 20% and the change in income is tm50 and the average is rm1000 so income increases by 5%. The income elasticity of demand for doughnut is: 20% = 4% 5% Therefore, it is said that the income elasticity demand for pizza is elastic. Next is negative YED (YED Question 6 Equilibrium is a situation in which opposing forces balance each other out. Equilibrium in a market occurs when the price balances the plans of buyers and sellers. The equilibrium price is the price at which the quantity demanded equals the quantity supplied. Consumer surplus is defined as the value of a good minus the price paid for it, summed over the quantity bought. It is measured by the area under the demand curve and above the price paid, up to the quantity bought. Producer surplus is determined by subtracting the marginal cost from the price received for a good and summed over the quantity sold. It is measured by the area below the market price and above the supple curve. b.) The production possibility frontier (PPF) marks the boundary between the combination of goods and services that can be produced. There are four assumptions that are made which are the economy is efficient, there are a fixed amount of resources, a fixed level of technology and there are only two goods. In order to achieve efficiency there must be full employment and full production. The opportunity cost of an activity is the value of the next best alternative that must be forgone to undertake the activity. Scarcity is a situation where there is not enough resources to produce enough a good to satisfy the needs of the consumers. Choice occurs when scarcity forces consumers to make a choice in order to maximise satisfaction. PPF illustrates these three principles of economics; choice, scarcity and opportunity cost. Because of scarcity, a society has to make choices between the productions of two goods with scarce resources available. Most choice involves opportunity costs. Referencing Parkin.M, Economics 9th edition ,Pearson International Edition McConnell,Brue Flynn Economics 18th edition

What would happen if the World Runs out of Oil and Gas :: essays research papers

Oil is hydrocarbons that grew up in the earth when source rock full of organic inclusions sank to just the right depth not too little and not too much and got cooked over the ages. It took hundreds of millions of years for the world's supply of oil to be created. The oil is used to make gasoline obviously, but also home heating oil, diesel fuel but also 90 percent of all the organic chemicals that we use. That includes pharmaceuticals, agricultural products, plastics, fabrics and so on. They are petrochemicals, meaning they originate as oil. the need for those hydrocarbon materials has been increasing for 150 years and will go on increasing especially because the world's population is increasing. The poorer parts of the world want to increase their standard of living, which inevitably means using more energy. Fossil fuels are our principal source of energy. I hope that enough people will become aware of the problem and we will be a little better prepared, Right now we don't have the kind of leadership that would take us in the direction that would make major changes. As individuals we can do things, driving hybrid cars, for example. But as a society we have to redesign cities so that people live close to where they work. There are all kinds of measures. We are so profligate in the use of energy that even with the smallest effort we can reduce the rate at which we use energy very significantly, as Californians showed after the last energy crisis. But what we really need is massive infusion of research on all of the possible ways of ameliorating this problem. It's possible for us to revert either to natural gas or to coal or both. Among consequences are the increasing global climate change. But another consequence is, let us suppose you tried to substitute coal for oil. Natural gas is a good substitute and it will last for a while but it will have its own peak one or two decades after oil, so it's only a temporary solution. If you turn to coal, we're now using twice as much energy from oil as we are from coal. So if you want to liquefy coal as a substitute for oil in transportation which is its most important application you would have to mine coal at a rate that's many, many times at the rate of what we're doing now.

Enhancing Customer Satisfaction with the Implementation of Total Quality Management

Mehra and Ranganathan (2008) reported that in 1979, Crosby gave 14 steps for quality improvement his work was supported by the work of another researcher, Ishikawa who stated that training, problem solving, and quality circles are very crucial ways of achieving continuous improvement. The researchers also spoke about the work of Deming with his contribution of giving 14principles that has become the foundation of TQM and acknowledged Juran for identifying the three basic functions of a quality management process which are planning, organization, and control. To Juran these functions of quality management process are different levels in any programs for quality improvement. TQM and customer orientation It has been observe that only those business organizations that pay attention to the need of their customers and make efforts to meet those needs become successful. Naturally, customers have their perceived expectations of quality of products or service they want from businesses they patronize and when they get satisfied they stay, else they leave for somewhere else. This is traceable to why customer satisfaction receives much attention and emphasis in the field of marketing. Researchers studied the profit of 472 restaurants and their results showed that data collected about customer satisfaction rate at a time has a direct impact on the profit margin of an organization nine months thereafter and concluded that quality as perceived by customer is what determines return on investment of any company( Mehra and Ranganathan 2008). It is therefore very important for organizations to focus on customer satisfaction so as to build a long lasting relationship with them. Customer satisfaction was not given much emphasis in the past but these days with intense competition in the global market, Organizations have come to realize its importance to as to maintain their stance in the market. Now, they know well that customer satisfaction will lead to customer retention and profits improvements. Scholars stated opined that the chances of customer leaving an organization due to poor products or services quality would definitely be reduced when customer satisfaction is achieved by a company ( Mehra and Ranganathan 2008). Agus et al. 2000) established that a successful implementation of TQM by a company will enhance its customer satisfaction and lead to financial performance. Goldman (2005), stated for an organization to remain competitive , it must identify its customers’ needs and find a way of building them into the products and services designs and development. Some researchers share the believe that in order for a company to satisfy its customer, their needs must be identified and incorporated into the design and development of appropriate product or service ( Spring et al. 998). Chan et al. (2001) report that quality function deployment is one appropriate TQM techniques that is a customer oriented approach and translates the voices of customers into the design features of products and services. This technique has three objectives which are to identify the customer, what he wants and find ways of fulfilling those wants. Researchers stresses that QFD methodology works by relating customer requirements with the design features (Govers 2001) Researchers emphasize a company need of its customer loyalty, stressed that a company would retain its customers if only a higher level of service than those of its competitors is achieved (Alomaim, 2003). The measurement of quality is dependent on meeting the expectations and requirements of customer the first time and at every other time. The federal Quality Institute (FQI) states that â€Å"TQM is a comprehensive, customer-focused system that many organizations are adopting to improve the quality of their products and services† (Alomaim et al. 2003). Alomaim et al. 2003) stated that TQM is management at all levels in an organization with the objective of customer satisfaction. They went further to state the largest percentage of scores for this award. TQM in Services. Mehra and Ranganathan (2008) established that TQM has a wide application in the industry of health care to enhance customer satisfaction after they reviewed the work of Ingram and Chung (1997) who reported tha t successful adoption of TQM programs has led to maximally satisfied customers. Hasin et al. (2001) affirmed that hospitals have engaged TQM principles as a weapon to gain competitive advantage. Researcher conducted a study to investigate success factors that are critical to TQM programs among corporations in US by surveying literatures (Dayton 2003). This effort led to his discovery of ten TQM success factors that are critical which includes orientation of customer satisfaction , quality improvement measurement, planning operational quality, customer and people management, management of external interface, improvement information communication, structures that facilitate team work, strategic partnership with suppliers and organizational culture of quality. The cue for these factors was taken from Malcolm Baldrige National Quality Award. According to the results of the findings, it was revealed that quality management and organizational culture of quality as TQM most important success factors as it relate to organizational performance. These research efforts found support in the work of Sit et al. (2009) that highlighted six core TQM practices that is acceptable by award models for quality like European Excellence Model and Quality Award and MBNQA through reviewing of literatures on TQM practices. These six TQM core practices are human resources focus, strategic planning, information analysis, customer focus, leadership and process management. TQM in Manufacturing. Scholars studied the Australia manufacturing industries to examine the impacts of TQM programs on their operational performance and reported that application of TQM in an organization helps to achieve success in relationships among employee, customer satisfaction and performance in business ( Terziovski and Samson 1999). To support this view another researcher reported that Malaysian manufacturing industries enhance their financial performance by engaging TQM programs and traced this performance to their achievement of customer satisfaction (Agus et al. , 2000). It should be acknowledged that when organizations successfully implement TQM, the result is that high level of customer satisfaction and improved financial performance would be achieved. This stated fact finds supports from literatures on TQM and customer satisfaction. Mehra et al. (2001) strongly mphasized that customer focus play an important role towards implementing TQM and established that TQM is customer –oriented. They also affirmed that customer satisfaction and customer loyalty are important elements for organizations that possess the value of customer focus. Attempting to further stress the necessity of engaging TQM to improve customer focus, suggested that organizations must pay serious attention to customer satisfaction. Researchers established that literatures abounds that mention customer focus and suggested that definition of TQM in the future should give customer focus its rightful place (Mehra et al. 001). Chien et al. (2002) state categorically that a strong relationship exists between the customer satisfaction level a company can achieve and its commitment to TQM practices which determines its performance. Other researcher believed that there is need for further research that presents the TQM relationship with customer relations ( Kaynak 2003). The impacts of the practices of TQM on customer satisfaction have been examined by many researchers and its wide applications in manufacturing and service industries alike have been reported. TQM and cultural differences. Researcher contested that cultural differences among industry types and across nations will vary the applicability of quality programs ( Dawson 1995). In the author opinion, TQM has a strong inclination in the culture of Japanese which makes its adoption not applicable universally. He therefore suggests that businesses and nations that will adopt TQM should conduct studies on examining how it could be adapted to their cultures. This view finds support in the work of other researchers who express their believe that TQM is neither effective nor fit for business environment that involves multiple cultures. Some other scholars doubt that TQM is effective in service industries because of the uniqueness of this industry in that their product is not visible. These concerns made Mehra and Ranganatha ( 2008) to undertake a study in the literature of TQM and customer satisfaction. Based on the results of their findings, they affirmed that implementation of TQM programs in an organization improves customer satisfaction. They rejected the argument that the only culture where TQM programs will succeed is collectivistic and also established that TQM programs will succeed in both collectivistic and individualistic cultures and across business types and national cultures. The result of their research made them to redefine TQM â€Å"as a management strategy that, with sound design and successful implementation can be adopted to enhance customer satisfaction through a concerted focus on customer and that this strategy is equally applicable to both service and manufacturing businesses operating in varied global cultures. For managers with kin interest on successfully adopting TQM implementation, they suggested 3 action plans; develop unique skills for identifying customers’ needs in their workforce, train their employees to understand global market competitions and global customer, and train specific personnel on ways of determining the customer satisfaction level at sensitive and throughout the contact points that are major. Mehra et al. 2001) and kaynak (2003) stressed that there is need for research that examines the impact of TQM programs on performance of an organization. Researchers are of the opinion that there is need for studies that will investigate the relationship between organization performance and TQM practices. This view finds support from Yasin et al. (2004) who expressed their concern for the rare nature study reports that relates performance of an organization to its improvements efforts on quality. TQM and Human resources. Researcher examines in an empirical study the role of human resource management practices towards implementing TQM within the advanced technology companies and the results of their findings was that the practices of HRM impacts significantly on customer satisfaction (Yang 2006). Many business organizations have place strong emphasis on customer satisfaction as they believe it would help them to increase productivity and ultimately profitability. Yang (2006) argued that company must put structures in place for customer satisfaction management and that company need employees to maintain such structures. Other researchers carry out an investigation on the relationship between the role of HRM and client satisfaction in the health industry (Ott and van Dijk 2005). Their study explored activities of HRM such as employee involvement, transparent management, plan for personal development, on the job training, supportive management style. They found that the manager’ management style nfluences the employee satisfaction. When Sit et al. (2009) reviewed the work of Adsit et al. (1996) that examines the association that exist between customer satisfaction, employee attitude and performance evaluation. They reported that employee attitude have a significant positive impact on customer satisfaction which made them to conclude that human resource focus induced customer satisfaction. It is rather unfortunate that literatures of studies on the relationships between customer satisfaction and Organization’s vision are rare. Kantabutra and Avery, 2007) affirmed that what is found is a casual link of customer and employee satisfaction with the organizational vision. To this effect, these researchers embarked on an empirical study to investigate how organization’s vision affect customer and employee satisfaction in retails stores in Thai. The research findings revealed that organization’s vision, employee satisfaction, communication, motivation and empowerment enhanced customer satisfaction. Based on the findings of their result, It was established that vision significantly enhances customer satisfaction. Sit et al. (2009) carried out a research study to examine the relationships customer satisfaction and TQM practices based on the perception of managers in the service organizations that are TQM certified in Malaysia. They reported that TQM enhances customer satisfaction and went ahead to establish customer focus, human resources, leadership and information and analysis as critical success factor of TQM practices and that they induce customer satisfaction. It was revealed in their findings that human resources and information and analysis were TQM dominant practices because they have close relationship with Customer focus within the service organizations under consideration. Customer satisfaction and customer loyalty: (Bennette and Rundle-Thiele 2004) conducted an empirical study to examine the relationship between customer satisfaction and attitudinal loyalty of customers. The researchers work took premise from the previous literatures on the subject. They reported that out That four biggest bank in Australia ecorded customers’ dissatisfaction percentage of about 23-32 percent and they are among the nation’s six top companies that is public. It was surprising that their performance was not affected as they posted large profits. They found that customers still patronized these banks even though they were dissatisfied which made them to argue that customer loyalty and organization performance does not depend solely on the single factor of customer satisfaction even though this go against the popular opinion that abound in the literatures that satisfaction is what leads to the attitude of loyalty often display by customers. They established that these customers were simply loyal. While public relations make every effort to convince the public that customer satisfaction is necessary for customer retention, these researchers discovered from the literatures that in 2003, the Bank of America earnings reports that customer satisfaction level of 14 percent constitutes 5. 3 percent of its customers. The question then remains, what is the satisfaction level experienced by other 94. perfect? This further proved that customer satisfaction does not necessarily leads to customer loyalty. Customer satisfaction has become a factor that is of high significance to business organizations and marketers alike especially in the service industries. Organizations because of so much emphasis that is place on this subject often see it as the ultimate in order to sustain the stiff competition in the global business environment. It is believed that customer satisfaction will help companies to retain their customers so as to maintain their market share and ultimately achieve organizational performance. The researchers surveyed a sample of 267 businesses and investigated their satisfaction level and attitude of loyalty to the services of an advertising company(Bennette and Rundle-Thiele 2004). The result of their findings revealed that loyalty that is of high level do not in all cases due to high levels of customer satisfaction. They went further to stress that customers often stick to a particular company, not because they enjoy the quality of its services and concluded that while customer satisfaction will remain the core of any organizational performance, it should not be the only goal (Bennette and Rundle-Thiele 2004). They pointed that attitudinal loyalty which customers sometimes display is another factor that enhances the performance of an organization. Given that they have considered attitude of customers to be critical success factor to business performance, it would be necessary to consider the impact of employee satisfaction on customer satisfaction. This view find support from the work of scholar (Oakland 2003) who opined that performance as perceived by the customer will always be the core of TQM model but it need not be limited to this and there should be an extension of it to other stakeholders’ performance measures. Other researchers gave their suggestions for the need of further empirical researches that would examine the impacts of quality improvement efforts on organizational performance (Yasin et al. 2004, p. 45).

Civil War Essay The Major Contributing Factors to the...

If asked, most people would blame as the cause of the civil war the issue of slavery. This is understandable; many people in the U.S. at the time were against slavery, going to far as to help runaway slaves escape to the free north. But, while slavery at face value was a major factor, international politics and economics played a major role. Several factors, including the election of Lincoln, the raid on Harper s Ferry, the Dred Scott decision, and, most importantly, the fugitive slave law, contributed to the growing rift between the North and South and, eventually, the Civil War. Abraham Lincoln is most always associated with the Civil War. But, he was not elected through a majority of the popular vote. In fact, with only forty percent†¦show more content†¦Northern abolitionists were shocked; their plan for compromise was no more slavery in any territory, and this ruling shut down their cause. Abolitionists feared that slavery would now spread into more territories, and Northern democrats, who favored popular sovereignty, and southern democrats, who favored slavery, were divided further in the Dred Scott Decision. This case contributed to the division of the Democratic Party, who then nominated three separate candidates, resulted in theShow MoreRelatedEssay about Analyzing the Civil Rights Movement and the Vietnam War727 Words   |  3 PagesAnalyzing the Civil Rights Movement and the Vietnam War In order to validate the statement, â€Å"The years from 1952 to 1975 in U.S. history were marked by tremendous political and social turmoil that led to major changes in American society,† one would have to evaluate the role played by the Civil Rights Movement and the Vietnam War in bringing about and contributing to those changes. 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