Assignment Example | Topics and Well Written Essays - 500 words - 71

Task Example Different analysts have noticed that the effective consummation of a course requires online support. (Nagel, L., Blignaut, A.S., and Cronjã ©, J.C., 2007) The motivation behind the examination is to know 1) how online support influenced learning and effective course finish, and 2) how the interest affected the learning network. (Nagel et. al, 2007) The specialists watched understudies of a 8-week electronic separation adapting course which was a piece of the educational program for the students’ Masters qualification. (Nagel et. al, 2007) Using specific PC programming, for example, the ATLAS.tiTM and the WebCT Campus version understudy following device, the students’ execution and exercises online were followed and broke down. The discoveries uncovered that dynamic learning interest prompted an effectively finished course as well as a fulfilled encounter by the learning network. The disappointment of certain understudies to get a passing mark was ascribed to, among others, association issues. Reactions demonstrated that availability to the online course material was hard for a few students in light of questionable Internet administration, PC issues and budgetary limitations. Inquisitively, results likewise indicated that a few understudies had poor Internet association however transferred this to their facilitator through instant messages or calls. Consequently, they had the option to work out cutoff times to effectively finish the course. Scarcely any postings and remarks on conversation sheets legitimately influenced understudy execution too. The outcomes uncovered that those understudies who simply marked in without teaming up with the network individuals or the individuals who didn't set up countless posts or answers wound up with inadmissible evaluations or dropped the course. Low online perceivability and investment which incorporate various students’ jobs (Nagel et. al, 2007) came about to

Medical ethics free essay sample

A lady, after a session with uterine malignancy had a hysterectomy (careful expulsion of the uterus). Prior to its evacuation, in any case, she had a few eggs expelled for conceivable preparation later on. Presently wedded, the lady wishes to have a youngster with her significant other. Clearly she can't hold up under the kid herself, so the couple uses an organization to locate a substitute mother for them. The spouses sperm is utilized to treat one of the wifes eggs, and is embedded in the substitute mother. The couple pays the entirety of the womans pregnancy-related costs and an extra $18,000 as pay for her surrogacy. After all costs are considered the couple pays the lady roughly $31,000 and the office around $5,000. Despite the fact that the substitute passed rigid mental testing to guarantee she was skillful to convey another couples youngster, subsequent to conveying the pregnancy to term, the proxy says that she has gotten excessively appended to her kid to surrender it to the couple. We will compose a custom paper test on Clinical morals or on the other hand any comparable theme explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page A fight in court results. Inquiries for Case 1: †¢In Hong Kong it is illicit to pay an individual for non-replenishable organs. The dread is that cash will impact the poor to hurt their bodies to support the rich. Do you see an equal between this case and this law? Could permitting substitute moms to be paid for their difficulties permit more unfortunate ladies to be persecuted? †¢Does paying the proxy hurt her as well as the childs pride? †¢Is it narrow minded for this couple to need offspring of their own hereditary make-up? †¢One of the primary contentions against the utilization of proxy moms is that conveying and bringing forth a kid is such a passionate occasion, that it is difficult to decide whether the substitute will have the option to surrender the youngster. Despite the fact that grown-ups go into the agreement, the youngster could eventually endure if a long care fight results. With the chance of such fights, do you think it is satisfactory for guardians to utilize a substitute mother? †¢Do you feel that if the substitute is granted the infant, this could make passionate mischief the youngster? †¢Who do you think ought to get the youngster, and why?

Business communications Free Essays

I will clarify the lawful and moral Issues that identify with the utilization of business data. I for one imagine that lawful and moral issues are as a rule to do with something that includes individuals standing to a law, as a rule there will be a ramification for not staying with the law. Most organizations have diverse data about individuals working for them, that’s when the Data Protection Act 1998 secures the Information held about individuals being abused. We will compose a custom exposition test on Business interchanges or then again any comparable point just for you Request Now The data ordinarily n the companys database must be: acquired decently and legally, just to be utilized for the reasons expressed during assortment, satisfactory important and not extreme according to the planned use, exact and cutting-edge, not saved for longer than should be expected, continue in accordance with your privileges and furthermore shielded from move to a territory outside the European Economic Area except if sufficient security exists for that information in the zone. There is likewise Freedom of Information Act 2000 (that came to impact in 2005) this Includes Right of access to data held by open specialists. This Is the point at which an individual solicitation Information to open power, the authority must be educated recorded as a hard copy by the open position whether it holds data of the depiction indicated in the solicitation, and if that is the situation, to have that data conveyed back to them The Computer Misuse Act 1990 it is a law that doesn't permit certain exercises when utilizing PCs, this include: hacking into different people’s frameworks, abusing programming or helping an individual to access secured documents on someone’s else’s PC. There are additionally moral Issues that are managed utilizing authoritative pollcles and codes of training, for example, utilization of email, web and whistle blowing. These go under business morals meaning good standards concerning worthy and inadmissible conduct by business. Whistle blowing is additionally one of the moral issues clients can utilize and identify with. This is the point at which a representative raises a worry about a business practice either to the executives inside the organization or to an outside association like the press. Operational Issues corresponding to the utilization of business Information, Including security of Information, reinforcements, wellbeing and wellbeing, business continuation plans and expenses. Associations need to store and oversee endless snippets of data with some being unquestionably more significant than others. To ensure that data is overseen suitably, various strategies and techniques must be set up, concerning; security of data, reinforcements, wellbeing and wellbeing, hierarchical pollcles and business continuation plans and cost. ailable as and when they need it, so as to settle on great business choices. Data security the board manages keeping up the honesty and accessibility of authoritative data and information. Reinforcements is additionally one of the activity issues as most organizations have created programs continually to attempt to limit the danger of losing fundamental data put away on IT servers. This includes creating reinforcements of data put away on the serv ers. A few organizations back up continually and some less much of the time. Wellbeing and security is likewise one of operational framework as are business duration plans and expenses. Business duration plans are the means that an organization establishes to ensure it is fit for enduring a most dire outcome imaginable. M2 Legal issues are the laws raised by various organizations with the goal that clients or clients will know about them. Moral issues include good and bad or what is viewed as acceptable, and what is viewed as malevolent in a general public. Legitimate and moral issues for organizations are generally not the same as business to business. Step by step instructions to refer to Business interchanges, Papers

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Financing ethnic minority businesses - Free Essay Example

Sample details Pages: 21 Words: 6377 Downloads: 4 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? Financing of ethnic minority firms focusing on Asian Perspective Don’t waste time! Our writers will create an original "Financing ethnic minority businesses" essay for you Create order Background to the Study The significance of ethnic minority firms in the United Kingdom has witnessed a tremendous increase in recent times with ethnic minority communities now constituting a significant portion of the small business sector[1]. Reports from the Bank of England[2] confirm that 5% of the national population accounts for 9% of new business start-ups and 7% of the total business stock in the United Kingdom. This implies that ethnic minorities account for 91% of new business start-ups and 93% of total business stock in the United Kingdom. An interesting issue in the numbers is that most of the ethnic minorities are engaged in low-order retailing and services as well as other unprofitable sectors of the market[3]. These activities are relatively easier to enter and demand very low financial and human capital requirements[4]. Asians, including Indians, Chinese, Bangladesh and Pakistani constitute a great proportion of the ethnic minorities in Britain as well as a significant potion of the ethnic minority business community in Great Britain. Basu[5], in a study examining the role of informal and formal institutional support in Asian entrepreneurial expansion in Britain suggest that both formal and informal institutional support have played a limited role in fostering Asian entrepreneurial expansion in Britain. Despite the availability of bank finance, rapidly growing Asian businesses did not rely on bank finance either at start-up or for expansion[6]. Basu attributes these findings to the short-term perspective of banks. All businesses need sufficient funds at start-up to enable them succeed, grow and be profitable in the long run. Capital investment, product and service development as well as marketing costs need to be covered. Businesses fund much of their initial funding from their own resources but have specific needs at a given point in time in the course of their business. Most small businesses tend to rely on loan finance and overdrafts from banks, with equity investment often necessary to enable considerable expansion[7]. According to renewal.net Overview[8], quoting Policy Action Team 3 (PAT3) on Entrepreneurial and Social Exclusion there are general barriers to raising funds faced by small and medium sized enterprises (SMEs) whatever their location. Small and medium size enterprises are regarded by banks as involving higher risk and monitoring costs than other larger investments such as equity investments. As a result small and medium sized enterprises face additional difficulties in depriv ed areas as follows: Funders may regard businesses in these areas as higher risk, since they rely on fragile local demand, may be less well capitalised (i.e., have less of their own funds to cover their requirements) and offer limited collateral à ¢Ã¢â€š ¬Ã¢â‚¬Å" assets which can cover losses to the funder should the business fail. (An example of collateral is that part of the value of a house which the owner owns outright and is not subject to mortgage.) The price of mainstream finance may be prohibitive, even if it can be accessed. People lacking experience in running successful small businesses are less likely able to present their plans and financial information credibly to a funding body. There may be communication difficulties where business owners and funding bodies come from different ethnic backgrounds According to renewal.net Overview[9], people on benefits may need an à ¢Ã¢â€š ¬Ã…“income bridgeà ¢Ã¢â€š ¬Ã‚  to see them through their early stages of running a business, when they incur start-up costs, lose entitlement t o benefit and cannot be sure of the income they will generate. According to renewal.net Overview[10], evidence from the Bank of England suggest that many Ethnic minority business owners perceive bank services as not geared towards their needs and as such are treated harshly when they try to source funds from these services. One third of Asians and two fifth of African Caribbean loan applicants reported having problems obtaining bank loans[11]. Reports from the bank also suggest that some of the Asian communities that have received family support in the past as a result of strong family networks now face difficulties raising start-up finance as a result of weakening family structures[12]. This paper is aimed at studying the financing of ethnic minority businesse s in the United Kingdom with particular focus on the Asian perspective. The rest of the paper is organised as follows: section 2 describes the methodology used in achieving the paperà ¢Ã¢â€š ¬Ã¢â€ž ¢s objective; section 3 focuses on the theoretical framework with particular emphasis on the financing sources that theory prescribes for start-up companies; section elaborates on the presentation of data and analysis with particular emphasis on how the Asian minority businesses raise finance as opposed to the White ethnic group and other minority groups such as the African Caribbean (ACB) group. This section also provides an analysis of why Asian Minority businesses engage in business, the type of businesses and the profitability and growth prospects of the business; section 5 presents some conclusions based on the findings from the analysis in section 4. It also provides recommendations and identifies areas for further research. Data Collection and Research Methods. The method that will be adopted in the study will be a qualitative and quantitative method. Considering the time frame, it will be difficult to gather primary data for analysis. The research will therefore be highly based on the analysis of secondary data concerning ethnic minority businesses in the UK focusing particular attention on information and data concerning Asian minorities such as Indians, Pakistanis, Bangladeshis and Chinese. This will be done by gathering and analysing data from secondary sources and drawing conclusions based on the analysis. The main data sources that will be utilised in the study will include peer reviewed journal articles in the subject area, articles and numerical data from the bank of England, the UK Department of Statistics and the Home Office. The data will be analysed by comparing proportions, raw numbers, communities and other important variables. The limitation with the method adopted here is that it is based only on secondary data and informati on that has been gathered by other researchers. It is believed that the results could have been more robust if primary data was gathered and analysed at fresh. However, considering the fact that most of the studies have been carried out by renowned researchers in the field and also taking into consideration the fact that the studies have been published in peer reviewed articles, the results can considered general and thus a motivation for why this study is focusing on the data gathered by these previous studies. Theoretical Framework 3.1 Sources of Start-up Finance Small businesses are often very immature to raise finance in the equity or other sophisticated markets. Unlike the more sophisticated businesses that can issue common stocks and bonds in the open market, small businesses such as partnerships and sole proprietorships and small and medium size enterprises are relegated to other sources of finance. The main sources of finance to start-up companies can be classified into formal and informal sources. Formal sources include finances from banks, venture capitalists, credit unions, business angels and so on. Informal sources include personal savings, family funds and funds from friends. 3.1.1 Venture Capital Finance Black[13] defines venture as capital whose owners are willing to invest in new or small businesses, where the risk of losing it is high. Venture capital is required when entrepreneurs with limited funds have the ability to start a new venture[14]. It is also referred to as risk capital because it is usually invested in projects with substantial elements of risk[15]. Considering the amount of risk inherent in venture capital investments, the expected return on the investment is usually very high[16]. Venture capital firms are typically made up of professional private equity managers representing large institutional investors such as mutual funds, and pension funds[17]. The limited partnership is the dominant form of intermediation in the venture capital market with the institutional investors acting as limited partners and the professional mangers acting as general partners[18]. General partners include firms that have a high esteem in funding and managing equity investments in closely held private firms. The private equity market is important for both start-up and established firms[19]. There are four main types of venture capital providers which include old-line wealthy families such as the Rockefeller family have traditionally provided start-up capital to promising businesses and have been actively involved in venture capital financing for a better part of the 21st century[20]. The second type of venture capital firms include a number of private partnerships and corporations t hat have been formed to provide investment capital to budding entrepreneurs[21]. The main people behind this form of venture capital include institutional investors such as insurance companies and pension funds who provide the necessary finance to the partnerships[22]. Examples of these partnerships include the American Research and Development (ARD), formed in 1946[23]. The most recent venture capital partnership is the Arthur Rock Co. of San Francisco which has achieved near mythic stature in the venture capital industry following its investment in Apple Computer and other high-tech firms[24]. According to estimates, the total number of venture capital firms across the globe stand at about 2000[25]. In those days it was believed that the venture capital companies were the easiest sources of finance. However, even if that has been the case in the past, it is not the case today since obtaining finance through a venture capital firm demands a lot on the part of the borrower today. Venture capital firms today employ a lot of screening tools and procedures to prevent inappropriate funding. For example, venture capitalists have at least one employee whose full time job is only to read proposals for funding[26]. There are six main stages of venture capital financing as identified in Ross et al (1999: p. 518): Seed-money Stage: at this stage a small amount of financing is needed to prove a concept or develop a product. Marketing is not included at this stage. Start-up. This refers to the financing for firms that started within the past year. The funds at this stage are used for marketing and product development expenses. First-Round Financing: at this stage additional finance is necessary to begin production and sales after a firm has exhausted its start-up capital. Second-Round Financing: these and finances geared towards working capital for a firm that is already making sales but not yet breaking even. Third-Round Financing: provided for firms that that are at least breaking even and contemplating expansion otherwise referred to as mezzanine financing. Fourth-Round Financing: financing provided for firms that are likely to go into the equity market within half a year. This financing is also referred to as bridge financing. Until the early 1980s when the Conservative Administration implemented new policy measures, little was known about venture capital in the United Kingdom[27]. The Companies act of 1981 created the business start-up scheme, which was later, renamed the Business expansion scheme. The scheme encouraged private individuals to invest in organisations, which were in turn, investing in unquoted companies[28]. The Companies Act of 1981 also resulted in the creation of the Unlisted Securities Market, which gave future exit mechanisms to venture capital organisations and individuals prepared to invest in currently illiquid investments. The main objectives of the government in enacting the 1981 Companies Act was to ensure the flow of funds to small firms, and high technology firms in particular, in recognition of their potential contribution to the regeneration of the economy following the 1974-1975 recession[29]. 3.1.2 Business Angels Moles and Terry[30] define business angels as individuals prepared to provide for high-risk, start-up business ventures and asserts that the term angel is also applied to backers of stage shows in the theatre business. It derives from the intention to do good rather than make a quick return on the money. Business angels are usually ex-entrepreneurs or business managers with a high quest to invest time and money in local start-up companies, typically in high technology sectors[31]. Their investments are usually small and take the form of minority shareholding for a period of anything up to ten years[32]. These angels are usually motivated by the entrepreneurial atmosphere and seek to be actively involved in their funded companies[33]. According to Wilson[34] quoting Mason et al (1991), the role of business angels in the UK is very significant and it is playing a major and important role in the financing of small business in the country. The business angels in the UK make investments typically under  £50,000 and a significant portion of these investments are in new and recently established ventures. These angels are therefore playing a significant role in bridging the gap between equity finance and start-up finance[35]. In addition entrepreneurs are more likely to raise start-up finance from the business angels than from venture capital firms who have a higher rejection rate than the business angels[36]. Business angels also target lower rates of return than venture capitalists, as they are always ready to see the company grow before they can start expecting returns on their investments[37]. 3.1.3 Bank Financing Banks play a major role in the financing of start-up businesses. Bank finance can be in the form of overdrafts for existing customers as well as bank loans and other forms of borrowing. Banks usually provide start-up finance to businesses in the form of loans, which carry a fixed rate of interest payable on an annual basis. There is usually also a fixed term within which the principal and any accrued interest must be paid back to the bank. While some bank loans may require that the borrower have sufficient liquid assets that can be put up as collateral, others can be granted without such a requirement. It all depends on how the bank evaluates the risk of the venture in which the borrower intends to invest the loan. In the United Kingdom, High street banks have recently introduced a number of innovations to attract new small business customers[38]. UK high street banks are now more interested in providing both business and financial advice to clients so as to ensure that the businesse s they invest in have good plans and therefore limit the rejection rate of loan applications. High street banks have also been willing to invest in enterprises that target the development of certain communities. For example, the Community Loan Fund for North West, to which the Co-operative Bank contributed  £300,000, in 1999 National Westminster, launched a community bond scheme for nine English RDA regions (and Scotland and Wales) in order to invest locally in previously un-bankable projects[39]. Banks have also developed services targeted at a particular clientele groups. For example, the HSBC South Asian Banking Scheme. Banks have also been considering opportunities and diversity training very seriously resulting in the improvements in service for clients from the Business Minority ethnic (BME) groups (BME)[40]. An important role is also played by overseas or Ethnic Banks in export finance, through the provision of trade services and project finance. There is also the availability of the Small Firms Loan Guarantee Scheme, which is designed to improve access to bank finance for businesses experiencing financial hardship as a result of lack of collateral security of trading record, or a combination of both[41]. However, it is still very difficult for very small firms and high risk ventures to tap from the latter facility given their high degree of potential default risk[42]. 3.1.3 Community Development Finance Initiatives Community Development Finance Institutions (CDFIs) is a new term that constitutes a range of organisations that seek funding and at the same time meeting financial and regeneration objectives. There are four types of community development finance institutions, which include: loan funds; micro-credit funds; social banks; and credit unions. a. Local Loan and Micro-credit Funds These institutions, which are often run by enterprise agencies, exist to provide financial and moral support to applicants who have been unable to raise sufficient funds from other sources, as a result of the lack of a track record, collateral security or a combination of both[43]. The main type of support is in the form of advice, mentoring and/ or training to help build up the business and protect the venture from falling. Examples of this type of support include the Bolton Business Ventures Loan Fund, and the London Business Start-up Loan Fund. Many of these loan funds provide loans below the base rate offered by High street Banks and as such are referred to as à ¢Ã¢â€š ¬Ã…“soft loansà ¢Ã¢â€š ¬Ã‚ . However, other borrowers outside the community involved are charged higher rates of interest to compensate for the extra risk taken and to ensure that they can rebalance their ability to provide funding in future[44]. These loan schemes are usually financed by Banks who provide som e one on secondment to help with managing the fund, or have a bank representative in the panels deciding on how to distribute the loans[45]. Some of the funds are geared towards business expansion, such as the London Business Growth Fund, which provides unsecured loans of up to  £20,000 to businesses from socially and economically disadvantaged groups who have been refused finance from a mainstream lender[46]. This fund is managed by Business Link for London and oneLondon. Other funds such as the 3b Investment Fund, run by 3b (Black Business Birmingham) who are now expanding their scheme to the Black Country with the support of the Phoenix Fund are targeted at particular customer groups[47]. Micro-Credit funds are funds that make very small loans (usually below  £5,000) to micro-entrepreneurs, typically sole traders or people in business with family or friends. The needs of these clients usually involve the buying of tools or trading stock[48]. There is another fund targeted towards financing unemployed people between the ages of 18 and 30 years. Applicants to this fund are expected to have good business ideas and prove that the have difficulties sourcing funds elsewhere. This fund which is referred to as the Princes Trust Business Programme provides bursaries, which can be offset against necessary costs of setting up a venture, test marketing grants of up to  £250 and start-up loans of up to  £5,000 to acquire fixed assets or working capital and/ or fund further training. This programme was co-funded by the Department of Work and Pensions and it was targeted to help 35,000 young people into employment over the period, 1999 to 2006. Another Fund is PRIME (Princeà ¢Ã¢â€š ¬Ã¢â€ž ¢s initiative for Mature Enterprise), which is a related UK wide organisation promoting self-employment amongst people over 50, and proving a loan fund of last resort[49]. b. Social Banks These are profit maximising financial service providers designed to achieve social and environmental objectives[50]. The Triodos for example, provides financial services to enterprises, which are of cultural, social, or environmental value; the trade union and co-operative movement established Unity Trust to provide account services for the charitable sector. This trust is working in collaboration with the Co-operative Bank in promoting Mutual Loan Guarantee Societies. Mutual Guarantee Societies refer to formal associations of Small and Medium Size Enterprises (SMEs), which pool their savings in banks, to offer collective guarantees improving the value of loans to members and helping achieve better lending and deposit rates. These societies increase the amounts that targeted firms can borrow from banks between 20% and 50% and provide management support for loan applications and business planning[51]. c. Peer Lending Otherwise referred to as Group Lending is a form of financing that operates on the principle that individual loans are dependent on the repayment record of the group as a whole: if one member defaults, no further lending is made to the group until the position has been adjusted[52]. An example of a peer lending group is the Full Circle Fund run by Womenà ¢Ã¢â€š ¬Ã¢â€ž ¢s Employment Enterprise and Training Unit (WEETU). The members of this fund participate in lending decisions (peer group lending). Another example is the East End Microsoft Consortium (EEMC), which is a pilot project with the objective of widening access to finance for women, refugee groups, ethnic communities and anyone who feels financially excluded[53]. This consortium is made up of four local community-based enterprises, which have particular expertise working with these groups. d. Credit Unions Credit Unions refer to not-for-profit, co-operative savings and borrowing institutions. Their members save through shares, which are then, re-lent to members, sometimes at lower interest rates than those charged by the High Street Banks[54]. The United Kingdom constitutes more than 600 credit unions, which are divided into three main types: employee credit unions, community credit unions (defined by location), and association credit unions (defined by interest, e.g., a church group)[55]. Many credit Unions treat disadvantage communities as their thematic areas, while a few specifically target businesses, for example, North London Chamber and Enterprise Credit Union, and the Federation of Small Businesses Credit Union[56]. Most credit unions regard business financing as riskier ventures than personal lending and as such the small scale of the UK credit unions make the risk unacceptable[57]. Credit unions are now regulated by the Financial Services Authority (FSA) and provision for com pensation for depositors in the event of default has now been strengthened, thereby making credit unions more willing to lend for business purposes[58]. e. Partnering Schemes Partnering schemes provide members with the ability to raise larger sums of capital that would not have been raised in the absence of the scheme. An example of a partnering scheme in the UK is the Birmingham Partner Fund, a co-operative created to raise capital from the African Caribbean Community in Birmingham with a view to investing the proceeds in commercially viable businesses in that community[59]. Members are committed to regular monthly savings over a fixed period of time and the proceeds can be used to provide additional financing. Other funding alternatives include asset-based finance e.g. leasing and hire purchase, factoring and invoice discounting and licensed moneylenders as well as government grants. a. Leasing and Hire Purchase A lease is a contractual agreement between a lessee and a lessor, which establishes that the lessee has the right to use an asset and in return must make periodic payments to the lessor, the owner of the asset. The lessor can either be the manufacturer of the asset or an independent leasing company. If the lessor is an independent leasing company, it must buy the asset from the manufacturer. Then the lessor delivers the asset to the lessee, and the goes into effect.[60] As far as the lessee is concerned, it is the use of the asset that is most important, not who owns the asset. The use of an asset can be obtained by a lease contract. Because the user can also buy the asset, leasing and buying involve alternative financing arrangements for the use of an asset. There are two main types of leases including: operating and finance leases. In the yester years, an operating lease was regarded as a lease where the lessee received an operator along with the leased asset. Though the operating lease defies an exact definition today, this form of leasing has several important characteristics[61]: -Operating leases are usually not fully amortised. This implies that the payments required under the lease contract are not enough to recover the full cost of the asset for the lessor. This occurs because the term or life of the operating lease is usually less that the useful life of the asset[62]. Thus, the lessor must expect to recover the cost of the asset by renewing the lease or by selling the asset for its salvage value. -Operating leases usually require the lessor to maintain and insure the leased assets. -Perhaps the most interesting feature of an operating lease is the cancellation option. This option gives the lessee the right to cancel the lease contract before the maturity date. If the option to cancel is exercised, the lessee must return the asset to the lessor. The value of a cancellation clause depends on whether future technological and/or economic conditions are likely to make the value of the asset to the lessee less that the value of the future payments under the lease[63]. Financial leases are the exact opposite of operating leases, as is seen from their important characteristics[64]: Finance leases do not provide for maintenance or service by the lessor. Financial leases are fully amortised by the lessee The lessee usually has the right to renew the lease on expiration Generally, financial leases cannot be cancelled. In other words, the lessee must make all payments or face the risk of bankruptcy. Because of the above characteristics, particularly (2), this lease provides an alternative method of financing to purchase. Hence, its name is a sensible one. Two special types of financial leases are the sale and lease back arrangement and the leveraged lease. i). Sale and lease-back A sale and lease-back occurs when a company sells an asset it owns to another firm and immediately leases it back. In a sale and lease-back, two things happen[65]: -The lessee receives cash from the sale of the asset -The lessee makes periodic payments, thereby retaining use of the asset. An example of a sale and lease-back occurred when the city of Oakland, California, used the proceeds of a sale of its city hall and 23 other buildings to help meet the liabilities of the $150 million Police and Retirement System. As part of the same transaction, Oakland leased back the buildings to obtain their continued use[66]. ii). Leveraged Lease -A leveraged lease is a three-sided arrangement among the lessee, the lessor and the lenders[67]. As in the other leases, the lessee uses the asset and makes periodic lease payments. as in the other leases, the lessor purchases the asset, delivers it to the lessee, and collects lease payments. However, the lessor puts up no more than 40% to 50% of the purchase price. -The lenders supply the remaining financing and receive interest payments from the lessor. The lenders in a leveraged lease typically use a non-recourse loan. This implies that the lessor is not obligated to the lenders in case of default. However, the lender is protected in two ways: The lender has a first lien on the asset In the even of loan default, the lease payments are made directly to the lender. The lessor puts up only part of the funds but gets the lease payments and all the tax benefits of ownership. These lease payments are used to pay the debt service of the non-recourse loan. The lessee benefits because, in a competitive market, the lease payment is lowered when the lessor saves taxes[68] A hire purchase (HP) is a method of buying goods in which the purchaser takes possession of them as soon as an initial instalment of the price (a deposit) has been paid; subsequent instalments are paid either on a monthly or quarterly basis and ownership is obtained when all the agreed number of subsequent instalments have been completed[69]. A hire-purchase agreement differs from a credit-sale agreement and sale by instalments (or a deferred payment agreement) because in that in the latter transactions, ownership passes when the contract is signed[70]. It also differs from a contract of hire, because in this case ownership never passes. Hire-purchase agreements in the UK were formerly controlled by government regulations stipulating the minimum deposit and the length of the repayment period[71]. These controls were removed in 1982. Hire-purchase agreements were also formerly controlled by the Hire Purchase Act 1965, but most are now regulated by the Consumer Credit Act 1974[72]. In this Act a hire-purchase agreement is regarded as one in which goods are bailed in return for periodical payments by the bailee; ownership passes to the bailee if the terms of the agreement are complied with and the option to purchase is exercised[73]. A hire purchase agreement like a leveraged financial lease involves three parties to the contract including the hirer, the seller of the goods and a finance company. The finance company purchases the asset from the seller and enters into the hire purchase contract with the hirer[74]. b. Government Grants A government grant is an amount paid to an organization to assist it to pursue activities considered socially or economically desirable[75]. An example of a government grant in the UK is the South Tyneside Council which provides Start-up Grants towards the capital expenditures of establishing a new business (up to 50% to a maximum of  £5,000) and Business Expansion Grants towards planned expansion of an existing business engaged in manufacture or supply of services to the industry (up to 30%, to a maximum of  £5,000)[76]. The trend in government grants has been moving towards loans rather than grant schemes although grant schemes with very specific purposes continue to feature in the programmes of many public agencies, e.g., the DTIà ¢Ã¢â€š ¬Ã¢â€ž ¢s SMART scheme makes grants to help individuals and small businesses to make better use of technology and to develop technologically innovative products and processes[77]. c. Personal Savings Personal savings reflect the personal finances of an individual earned through employment or other sources such as inheritance and the sale of personal properties. These funds play an important role for start-up finance in that they can provide the initial force behind the investment. Most funding bodies and banks would prefer to form a company that has began operating already rather that begin risking their finances at the very beginning. Personal savings are closely related to family funds in that they are both informal sources of start-up capital. Family funds can come in the form of loans from close family members such as parents, grandparents, children, brothers, sisters as well as uncles and aunts. These funds also play an important role in providing the initial force behind the investment project while waiting for financing from formal sources such as Banks and government agencies. DATA PRESENTATION AND ANALYSIS 4.1 Self-Employment Rates in the UK Table 1. Self employment rates for selected ethnic groups in great Britain, 1991. White Black Caribbean Indian Pakistani Bangladeshi Chinese All Total Number of self employed by ethnic group 2,922,917 13,392 97,340 22,642 5060 17,869 3,078,436 As % of economically active members of ethnic group 7.0 3.4 11.4 8.3 5.9 14.9 7.0 Source: Adapted from Dhaliwal[78] quoting Barret et al (1996: p. 784) The table above shows the number of people who were self-employed in the UK as at 1991. The figures show that most of the self-employed in the UK as at that time were the ethnic minority groups with the Indians demonstrating the Asian ethnic minority groups demonstrating the highest percentages of self-employed as compared to their total number. Chinese demonstrated a total number of 17,869 people. Of this total, 14.9% were self employed. They were followed by the Indians with 11.4% self-employees out of a total number of 97,340. Next came the Pakistani with a self-employment percentage of 8.3% out of a total number of 22,642. The Bangladeshi was the only Asian ethnic group that demonstrated a self-employment percentage below that of the whites. That is, 5.9% as opposed to 7.0% for the whites. As compared to the Black Caribbean ethnic group, one can see that the Asian minority demonstrates a far higher percentage of self employment than any other ethnic minority or white group in the UK. 4.2 Why Asian Ethnic Minorities Engage in Small Businesses in the United Kingdom Most ethnic minorities tend to engage in small businesses or self-employed activities because of the difficulties faced in securing a job. Some of them simply want to be independent and others do business just for the doing of it. Some of them enjoy being referred to as business men. In addition, it is usually more difficult to meet work permit requirements as an immigrant in the UK and as such the most lucrative source of income for the time being is business. We can therefore conclude that some of the ethnic minorities enter into business during waiting times for work permits and other home office requirements. Another important reason that one can advocate for Asians entering into business is language barriers. Irrespective of their qualifications some of them might be unable to express themselves in good English and as such may find it difficult securing a job. 4.3 Types of Businesses they engage in Ethnic minority businesses in Europe including the Asian ethnic minority community in the earlier years centred their businesses around saturated and unprofitable niches[79]. However, in recent times, ethnic minority businesses have started engaging in emerging business sectors such as mobile phones, IT consultancy and computer manufacturing[80]. Others are engaged in less technology-driven areas such as nursing, teaching and training agencies, and care homes. They are also recently increasing their presence in media, insurance and financial services[81]. From table 4 above, one can see that most of the ethnic minorities are involved in retail and mobile phones with a few of them in wholesale, fashion, laundry and IT. This indicates that that are relegated to low-rewarding activities as earlier mentioned in the introduction[82]. In addition some are engaged in more sophisticated industries such as hotels, shipping and steel manufacturing[83]. 4.4 Sources of Start-Up Capital and Advice for Ethnic Minority Firms Table 2: Source of start-up capital: contribution of each source Degree of reliance None Less than or equal to 50% Greater than 50% Mean share of each source Personal savings 47 (26.7) 55(31.3) 74(42.0) 51.01 Family capital 115(65.3) 26(14.8) 35(19.9) 22.65 Bank loans 110(62.5) 38(21.6) 28(15.9) 20.86 Figures in brackets represent the percentage share of the sample Source: Adapted from Basu[84] Table 4: Case study firms: Financial sources Code Ethnicity Sector Source of finance TRADITIONAL S1 Indian Wholesale Personal savings S2 Pakistani Wholesale Family and friends S4 Indian Laundry Personal savings S5 Indian Restaurant Bank B1 Pakistani Retail Bank B2 Indian Retail Personal savings B15 Bangladeshi Retail Family and friends B16 Bangladeshi Clothing Personal savings B25 White Retail Personal savings L6 Chinese Travel Personal savings L7 Chinese Estate agent Personal savings L8 Chinese Restaurant Family and friends EMERGENT S6 Chinese Fashion Bank S8 Pakistani IT Bank S9 Pakistani IT Bank S10 Pakistani Mobile phones Personal savings B4 Pakistani Health Personal savings B5 Pakistani Mobile phones Family and friends B6 Bangladesh Mobile phones Bank B17 Pakistani Finance Bank B19 Indian IT Family and friends L10 White IT Bank B24 White Consultancy Bank Source: Adapted from Ram et al[85] Table 5: External Finance from Formal Sources at Start-up ( Finance from sources other than personal savings, family or friends) Firms Obtaining External Finance Firms Obtaining Bank Finance No. of Respondents (N) No. % No. % ACB 55 31 38 21 177 Pakistani 57 35 55 34 162 Indian 74 41 67 37 179 Bangladeshi 44 34 43 33 131 Chinese 84 51 81 49 164 All EMBs 314 39 284 35 813 White owned 93 39 82 34 240 All firms 407 39 366 35 1053 Source: Adapted from Smallbone et al[86] Table 2 through to 7 shows the different ways in which the Asian ethnic minority groups raise finance. As we can see the main sources of their start-up funds are both from formal and informal sources of finance. Formal sources mainly include bank loans, and other sources such as grants and venture capital firms. Informal sources include personal savings, family and friends. Most of the ethnic minorities raise finance through personal savings. According to the survey carried out by Ram et al[87] on the issue of how the ethnic minorities raise finance, 9 out of the 21 ethnic minority respondents reported that they raised initial or start-up capital from personal savings, 5 reported that their initial capital was raised from family and friends while the remaining 7 succeeded in raising start-up capital from banks. According to the study by Basu[88], and looking at the figures in table 2 above, it was found that only 47 respondents (26.7%) did not rely at all on personal savings as part of their start-up capital contribution, 55 (31.3%) reported that their degree of reliance on personal savings was at least 50% while 74 (42%) reported that their degree of reliance on personal savings was above 50%. As concerns the degree of reliance on family funds, 115 (65.3%) reported that they did not rely at all on family funds, 26 (14.8%) reported that they relied at l east 50% on family funds while 35 (19.9%) responded that their degree of reliance on family funds was above 50%. For bank loans, 110 (62.5%) said they did not rely at all on bank loans, 38 (21.6%) reported they relied at least 50% on bank loans and 28 (15.9%) claimed that their degree of reliance on bank loans for start-up capital was above 50%. Overall the mean share of start-up capital from personal savings was 51.01%, that from family funds was 22.65% while the share from bank loans was 26.8%. In another study by Smallbone et al[89], we observe from the table 5 that 84 Chinese respondents constituting a percentage of 51% obtained start-up finance from External sources, 74 Indians constituting a percentage of 41% obtained external financing, 57 Pakistanis, constituting a percentage of 35% obtained external financing while 44 Bangladeshi constituting a percentage of 34% obtained external finance. The study by Smallbone et al[90] included white owned businesses as control groups as well as African Caribbean (ACB). As a basis for comparison, one can observe that as far as external financing is concerned, the ACB obtained the lowest percentage (31%) of external financing for start-up while the white owned group obtained 39% of external financing as start-up capital. In addition, the total percentage of EMBs as shown in table 5 that obtained external financing at start-up constituted only 39% of the total number of firms. Of this number the Asian minorities appeared to have obtained the greater share of the external financing. Among the Asian minorities, the Chinese scored the highest percentage followed by the Indians, then the Pakistanis and lastly by the Indians. As far as bank financing is concerned one can observe from table 5 that the Chinese among the ethnic minorities and among the Asian ethnic minorities again obtained the highest amount of bank finance as start-up capital. Even their white owned counterparts scored below them in terms of obtaining bank financing at start-up, that is, 49% for the Chinese businesses as opposed to 34% for the White-owned businesses The Indians came second with 37% also above their White-owned counterparts. Table 6: The propensity of Firms to Access Start-up Finance from Family and Friends Yes % No % Donà ¢Ã¢â€š ¬Ã¢â€ž ¢t know % Respondents % ACB 70 40 101 57 6 3 177 100 Pakistani 90 52 63 37 19 11 172 100 Indian 83 46 84 46 15 8 182 100 Bangladeshi 74 54 47 35 15 11 136 100 Chinese 54 35 94 61 6 4 154 100 All EMBs 371 45 389 47 61 7 821 100 White-owned 63 25 162 65 25 10 250 100 All firms 434 41 551 51 86 8 1071 100 Source: Adapted from Smallbone et al[91] Table 6 above shows the propensity of firms to access start-up finance from family and friends as observed by Smallbone et al[92]. One can observe from the table that among the Asian minorities that the Bangladeshi group is most likely to access family funds at start-up with a total number of 74 (54%) respondents answering à ¢Ã¢â€š ¬Ã…“yesà ¢Ã¢â€š ¬Ã‚  to the survey. The lowest percentage was observed for the Chinese among the Asian ethnic minority group with a total number of 54 (35%) respondents answering à ¢Ã¢â€š ¬Ã…“yesà ¢Ã¢â€š ¬Ã‚  to the survey. The Pakistani and Indian groups follow the Bangladeshi group with 90 (52%) and 83 (46%) respondents answering à ¢Ã¢â€š ¬Ã…“yesà ¢Ã¢â€š ¬Ã‚  to the survey respectively. The white control group shows the lowest propensity to access family funds at start-up. For comparison purposes, the African Caribbean group showed a somewhat high percentage above the Chinese group and the White-owned control group but below the rest of th e Asian minority group members, that is Bangladesh,

Where Would We Be Without Them - 1444 Words

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Psychological Capital and its Influence-Free-Samples for Students

Question: Write a Literature review on Psychological Capital and its Influence on the Positive Organizational Outcomes. Answer: The paper talks about the significance of the psychological capital in the organization. It explains that how positive psychological capital influence the results and outcomes of the organization. Further, it describes the four components of the psychological factors such as self-efficiency, hope, optimism, and resiliency. It describes that how these components help to improve and enhance the effectiveness, productivity, and efficiency of the workers. It tells that how psychological factors provide various competitive advantages in the world. Human resource plays a vital and significant role in the success and growth of the business. Therefore, psychological capital plays an integral role in each and every organization. The psychological capital refers to the development and positive state of an individual as characterized by high self-efficiency, resiliency, hope, and optimism (Walumbwa et al, 2011). The positive thoughts, ideas, and characteristics create positive relationship and experiences. In todays era, the scope of the psychological capital is very wider. The psychological capital includes power and positive aspects and features of human behavior. The psychological capital is used by the various authors in order to determine the goals and objectives of the firm. Avey et al (2011) said that there are four elements of the psychological capital which include hope, optimism, hope, and resiliency. The psychological capital is the mixture of the four components. These elements help to improve and enhance the performance and effectiveness of the organization. The four elements of the psychological capital have been discussed below (Luthans et al, 2015). Self-efficiency: Sweetman et al (2011) said that self-efficiency shows the general trust and belief of the people while demonstrating their efficiency and performance within the organization. By using self-efficiency, the company can improve the performance of the employees. Now it is assumed that high self-efficiency can affect the motivation of the employees. If the people are self-efficient then they can improve and enhance the motivation of the workers. Further, the employees choose challenging tasks to improve the productivity and effectiveness within the organization. Walumbwa et al, (2011) said that self-efficiency is not related to the employees capabilities and competencies it is connected to the belief and abilities of the personal. Now it can be said that there is a positive and strong relationship between performance and self-efficiency. Hence, this favorable relationship provides job satisfaction and job security to the employees Sweetman et al (2011). Hope: The sense of expectations and agency are required to attain the desired goals and objectives within the organization. On the other hand, hope may be defined as an energy which focuses on the personal objectives and goals (Wang et al, 2014). It is tool and technique which motivates and enhance the people for doing work effectively and efficiently. After the various researchers conducted by the Cetin (2011), where he said that hope and desires play a significant role to provide right direction to the people in the global market. Optimist: Optimist managers and employees play a significant role in order to increase the success and growth of the company. The optimist people enjoy their life while pessimist people do not enjoy their life Sweetman et al (2011). The optimist people are able to resolve the key issues and challenges in the organization. The optimism may be defined as psychological expectations and intentions in order to accomplish the mission and vision of the firm. It also provides a chance to make the life easy and reduce the stress and frustration of the life. It also helps to improve the psychical and mental health of the people (Choi and Lee, 2014). Resiliency: The resiliency may be defined as a tendency to reduce the depressing and adversity process. It also focuses on the success and goals of the organization. It also helps to reduce and eliminate the obstacles and negative situations (Norman et al, 2010). The resilient people can easily adopt the changes in the life. The resiliency can also be developed by focusing on the risk, key challenges, and assets of the organization. Now it is assumed that psychological capital also helps to gain the competitive advantages in the global market. Further, the company must focus on the positive behavior of the people to increase and enhance the productivity in todays globalization world. Abbas and Raja (2015) said that success and growth can be obtained by the psychological capital because it renders an opportunity for training and development to improve the efficiency of the employees. It is true that psychological capital influence the positive organizational outcomes and results. This also helps to manage and operate the trading activities and operations of the organization. The four components also play a significant role in order to develop and enhance the knowledge and experience of the people (Choi and Lee, 2014). Further, targeting also plays a vital role in an organization to develop and build individual hope and expectations in the organization (Cameron et al, 2011). Hope is the effective tool to attain the targets and goals of the firm. Along with this, optimism is a fact which can be controlled and managed by the stress management. Psychological capital also helps to provide job satisfaction to the workers. In this way, it also increases and maximizes the outcomes and revenue of the organization. Job satisfaction also encourages and motivates the employees for performing task and duties effectively and efficiently within the organization. The job satisfa ction has a favorable relationship with performance, efficiency and organizational commitments (Norman et al, 2010). If the job satisfaction is related to the negativity then it increases the absenteeism and employee turnover in the organization. Therefore, it the company wants to achieve positive outcomes then it should provide job security and job satisfaction to the employees (Wang et al, 2014). Now it can be said that organization can create a favorable relationship between efficiency and job satisfaction by managing their current systems and evaluating and understanding their worker's needs, expectations, and desires. The employees are the main source to attain the success and growth of the firm. Along with this, positive psychological factors also help to improve the motivational factors in the organization. It also helps to maintain a peaceful and healthy working environment in the organization. Job satisfaction is one of the biggest and important components of the psychologi cal capital (Peterson et al, 2011). The motivation and personal success are provided by the positive psychological capital. It has been studied by the Eid (2012), where he said that motivation and self-efficiency contribute to improving the service quality, efficiency, and effectiveness of the employees at the workplace. Further, performance and motivation are interrelated with each other to beat the competitors in the global market (Norman et al, 2010). If the company improves the quality of the services and efficiency of the employees then it provides various advantages to the company. It also helps to understand and evaluate the plans, policies, and strategies of the competitors across the world. Thus, it increases the outputs of the company by providing motivation to the workers (Wang et al, 2014). The psychological capital provides a chance to share positive relationship between individuals and organization to encourage and enhance the performance and productivity of the organization as well as employees. The organization is trying to gain the competitive benefits by using psychological capital within the organization. Apart from this, positive psychological capital decreases the damages and risks of the market (Cameron et al, 2011). It also reduces the impacts of the negative activities in the organization. The psychological capital is considered the strong and effective strength of the company. Therefore, top management and managers must invest the psychological capitals of the organizations in order to increase the outputs and revenue. Choi and Lee (2014) said that psychological capital must be related to the field of the organizational behavior and experience. It should be measurable and related to the efficiency and performance of the employees for maximizing the outcomes of the firm (Norman et al, 2010). Psychological capital also influences the behavior of the leaders and top management in the organization. It helps to develop and build leadership styles among the managers within the organization. It also develops and builds leadership skills, potential, and competencies among the superiors. Now it can be said that psychological capital affects the positive and favorable organizational outcomes and results (Norman et al, 2010). On the above aforesaid information, it has been concluded that psychological capital plays an enormous and significant role to maintain the sustainability of the organization. It also helps to expand and explore the business activities and operations globally. Further, it also influences the outcomes and results of the organization. The four components of the psychological capital are used by every company to enhance the efficiency of the workers. In addition, the firm must improve the elements of the psychological capital to reduce the obstacles and to overcome the competitors in the global market. References Abbas, M. and Raja, U., 2015. Impact of psychological capital on innovative performance and job stress.Canadian Journal of Administrative Sciences/Revue Canadienne des Sciences de l'Administration,32(2), pp.128-138. Avey, J.B., Reichard, R.J., Luthans, F. and Mhatre, K.H., 2011. Meta?analysis of the impact of positive psychological capital on employee attitudes, behaviors, and performance.Human resource development quarterly,22(2), pp.127-152. Cameron, K., Mora, C., Leutscher, T. and Calarco, M., 2011. Effects of positive practices on organizational effectiveness.The Journal of Applied Behavioral Science,47(3), pp.266-308. etin, F., 2011. The effects of the organizational psychological capital on the attitudes of commitment and satisfaction: A public sample in Turkey.European Journal of Social Sciences,21(3), pp.373-380. Choi, Y. and Lee, D., 2014. Psychological capital, big five traits, and employee outcomes.Journal of Managerial Psychology,29(2), pp.122-140. Eid, J., Mearns, K., Larsson, G., Laberg, J.C. and Johnsen, B.H., 2012. Leadership, psychological capital and safety research: Conceptual issues and future research questions.Safety science,50(1), pp.55-61. Luthans, F., Youssef-Morgan, C.M. and Avolio, B.J., 2015.Psychological capital and beyond. Oxford University Press, USA. Norman, S.M., Avey, J.B., Nimnicht, J.L. and Graber Pigeon, N., 2010. The interactive effects of psychological capital and organizational identity on employee organizational citizenship and deviance behaviors.Journal of Leadership Organizational Studies,17(4), pp.380-391. Peterson, S.J., Luthans, F., Avolio, B.J., Walumbwa, F.O. and Zhang, Z., 2011. Psychological capital and employee performance: A latent growth modeling approach.Personnel Psychology,64(2), pp.427-450. Sweetman, D., Luthans, F., Avey, J.B. and Luthans, B.C., 2011. Relationship between positive psychological capital and creative performance.Canadian Journal of Administrative Sciences/Revue Canadienne des Sciences de l'Administration,28(1), pp.4-13. Walumbwa, F.O., Luthans, F., Avey, J.B. and Oke, A., 2011. Retracted: Authentically leading groups: The mediating role of collective psychological capital and trust.Journal of organizational behavior,32(1), pp.4-24. Wang, H., Sui, Y., Luthans, F., Wang, D. and Wu, Y., 2014. Impact of authentic leadership on performance: Role of followers' positive psychological capital and relational processes.Journal of Organizational Behavior,35(1), pp.5-21.

Abortion Vs. Euthanasia Essays - Euthanasia, Medical Ethics

Abortion Vs. Euthanasia When it comes to the question of law, there are endless debates on which laws are just or which are unjust. Euthanasia and abortion are both very serious topics that bring controversy, mainly on whether it should be legal or not. Currently in Canada, abortion is legal, although assisted suicide is illegal. By making euthanasia legal in Canada as well, not only would humans benefit but also the country as a whole. Euthanasia rather than abortion seems to be a more reasonable solution because of the following aspects; the reasoning in making such a decision, the pain and suffering endured, and whether or not human rights are being dishonoured. When a person decides to take their own life by doctor assisted suicide, the decision is very thoroughly thought out by the patient, their family and their doctor. The reason why certain people would choose to take their own life is mainly because the pain and suffering is unbearable. When the sickness or disease is incurable, the family suffers along with the patient. They already know that they are going to die soon. Patients who do suffer with these diseases and are physically unable to kill themselves and die painfully, and unhappily. Patients and family members, that decide committing suicide is for the best, it is because they can not bear to see their own family member go through anymore pain. Yet if the person is too ill to instruct what is to be done, it should be left up to the immediate family. Abortion on the other hand is a sometimes a solution for accidental pregnancies. Some people choose to have an abortion because they do not think that they have the suitable conditi ons to bring a child into the world. There have been some cases in which abortion is totally acceptable, for example, pregnancy from rape. Planed parenthood should be a well thought out procedure. In some cases where carelessness or irresponsibility was reason for the pregnancy, a life should not be taken away for someone elses mistakes. Abortion and euthanasia causes both emotional and physical pain. Abortions are not the safe procedures they are purported to be, however; besides having physical pain to contend with, a woman can also experience intense grief and guilt after an abortion. With abortion the mother and father are emotionally suffering because they have made the conscious decision to kill their own child. Having to go through with an abortion can be very unfortunate, and is something that stays with them throughout their whole lives. There are other alternatives, such as adoption. Patients that are sick die slowly and painfully, the victim is restricted, and is unable to have control over their own life. The family and friends surrounding them are emotionally distressed and are suffering as well, something they should not have to go through. By not allowing a patient to take his or her own life the government is forcing them to go through cruel punishment. There have been many cases in which people have gone through pain and suffering and were unable to die on their own due to the law. People have the right to live their remaining life with the inherent dignity of a human person, that they have control over their body, and that they should be free from government interference in making fundamental personal decisions concerning the terminal stages of their lives. They should be able to control the type of medical treatment being given to them, allowing them to avoid senseless pain and cruelty. By helping the end of suffering of a human being, you grant them the human rights they deserve. When ending the growth of an unborn child even before their life has a chance to begun, you, in some peoples opinion are committing murder. Although some people would say that you are only aborting a fetus not a human, regardless it is st ill a life. Who has the right to decide whether or not they can take away a life? The value of human life was, and still is, cheapened by this act. Women now have an easy way out of what they consider an inconvenience and a burden. Euthanasia should be legal

Repetitive Stress Injury RSI

Repetitive Stress Injury RSI Free Online Research Papers Repetitive Stress Injury (RSI) is a very serious injury. To fully understand it, you must know what it is. You must also know the symptoms are, and how you can get it. What occupations does RSI usually occur in? Are there any ways to prevent it? Are there exercises that you can do to prevent it? How can employers prevent this in their employees? In the following paper, you will understand all of these questions and hopefully learn a lot about RSI. Repetitive Stress Injury (RSI) is a disorder in which the muscles and tendons get overused. â€Å"Any activity with repetitive action brings with it the risk of RSI.† (Brown University 2008) This can happen even when you don’t recognize it. If you do the same thing over and over again, you tire the muscle and tendon. RSI injuries can be very painful and you can lose all function of the affected area if you do not get treatment. RSI can affect various parts of the body, not just the hands and wrists. It can involve the neck, shoulders, and even the legs and feet. (faqs.org 2009) When RSI affects the neck, you are probably using your neck a lot. RSI injuries that are neck related do not happen as much as other areas, but if it happens, it happens usually when a person plays sports. For example football players use their necks a lot so they are more likely to get a RSI injury to the neck. RSI that occurs in the arms, wrists, and hands happens when people use their arms, wr ists, and hands a lot. An example of this would be someone who uses the computer a lot, a sewer who uses his or her hands repeatedly over and over again, or a pottery worker who molds clay and uses their hands repeatedly. An example of a shoulder related RSI injury would be a baseball player using his shoulder muscle or tendon to pitch the ball. Each person who comes up to bat gets a pitch. That’s a lot of repetitive motion on the shoulders. The legs and feet RSI would be someone who has to move their legs and feet a lot. For example, someone who used the sewing machine that you need to push down repeatedly with their legs and feet would get a RSI injury to the legs and feet. RSI is not something you can catch. Some people who do repetitive things do not develop RSI, but others do. According to the Bureau of Labor Statistics (BLS), RSI has gotten worse over the years. â€Å"In 1972 23,800 people had RSI and in 1994 332,000 had it†. (bls.gov, 2009) With that figure, it suggests that RSI will increase every year. There are a lot of signs and symptoms of RSI. It is very important to not to ignore the first symptoms of RSI because it is very hard to treat once it is advanced. RSI injuries affecting the hands, wrists, and arms are the feeling of the body part going to sleep, numbness, and tingling. (beadwork.about.com 2009) A very prominent sign that you have RSI is if you wake up at night because of the pain in your arm, hand or wrists. The pain can either be dull or sharp. Your limb could feel rubbery as if it were not a part of your body. If it wakes you up at night, then it’s not something to be ignored because it could get worse. Another symptom you could experience is coldness in the affected body part. The limb can actually look a couple shades lighter than the other parts of the body. One more symptom is not being able to do the normal things you normally do. The loss of strength in the affected area makes the person unable to do the things they used to do.The last symptom that is a good sign that you have RSI is pain in the neck, or shoulder areas when you sit at the computer. You will find yourself trying to bend and twist to try to get the pain away but it doesn’t work because the strain has already occurred. People who use the computer a lot are a lot more susceptible to RSI. Bad posture, incorrect hand placement on the keyboard, and time spent on the computer are ways to get RSI too. Bad posture at the computer makes RSI inevitable. Bad posture puts a strain on the body. Another way to get RSI is being at the computer for long hours with not enough breaks in between. You are not only in the same position and doing the same thing, you can also get headaches from staring at the computer screen for a long period of time. The most common occupations to get RSI, are those on the computer a lot, and athletes. Occupations that use the computer a lot are computer programmers, network and security, medical secretaries, medical technologists including pharmacists, and business. The sport athletes that get RSI a lot are baseball players, golfers, and football players. Computer Programmers, network and security, medical secretaries and technologists, require you to be on the computer for most of the time that you are at work! If you think about this, this is a lot of time! If the average employee works forty hours, and usually works about twenty hours over time that’s sixty hours out of one hundred sixty eight spent doing a lot of repetitive motions. These occupations are vital to the United States of America. Without these occupations our country would plummet. If these occupations are vital, how can we reduce the number of injuries with RSI? A good way to reduce the number of injuries associated with RSI is to take breaks from the repetitive thing that you are doing. If you work in an office with computers, take short breaks. If this is not available for you or you can’t take short breaks you can still take miniature breaks. You can look away from the computer for a couple of minutes and close your eyes. Don’t close your eyes too long though, or your boss may think that you are cat napping! You can also do little exercises. You can take your hands and wrists and stretch them so that they can be relaxed. Stretch your back, your neck and if you can stretch your legs too! Also, make sure the temperature where you work is comfortable and not too cold and not too hot. If you cannot control this, as a lot of us can’t, accommodate the situation. If it is too cold where you work because of air conditioning then put a sweater on. If its too hot, buy a little fan to keep yourself cool. The reason this is imp ortant is because if your body gets too cold or hot you tend not to take yourself away from working. You also tend to slouch and your posture is bad. Another thing you can do to reduce your chance of having RSI is to get a comfortable chair to sit on. Make sure the chair is adjustable so that it can support your back. It is good to have a chair that has arms so you can rest your arms periodically on them. Also, you can position the keyboard in your lap so that your arms can have a rest. Try not to use the mouse. A track ball is better because it glides easier. When you are reading something at the computer, do not keep your hand on the mouse. This makes your arms tense. Whenever you can, try to relax your body. Another good way to get your body out of the bad posturing is to bring little snacks to boost yourself up. Nothing messy of course, but if you suck on a candy it will help you because you are not just working. The main way to prevent RSI is to practice ergonomics. This is the art of designing the job to fit the worker, not the other way around. Ergonomics is looking at your work environment and seeing what triggers your stresses and pains and what doesn’t. This includes the physical and environmental parts of your job. It is not possible to control everything about where you work, but if you can eliminate the stuff you can, you will be less likely to get an injury from RSI. If you already have RSI, you can treat it. Sometimes you may have to have surgery if you ignored the symptoms and let it progress to that stage. When you notice the symptoms of RSI, The first way you can treat it would be resting! If you rest the affected body part it will be easier for you to heal. Another way is to change your environment. As I stated above ergonomics will help you do this. It is very important to do those things because it will help. A lot of the times when someone has been diagnosed with RSI the doctors will prescribe an anti-inflammatory pill. This works because it helps the inflamed area to heal by taking away the inflamed part. One other way to treat RSI is a mixture of hot and cold compresses. The mixture of heat and cold compresses help soothe the inflamed area. If employers took the time to have a class before the employee started work with their job in computers, a lot of the injuries associated with RSI would go down. Both the employer and the employee would be informed on how to do the correct job and still be in good health down the line. Employees would stay at the job longer because they would feel cared about and would look forward to going to work. Most employers do not do this because of the time involved in doing so, and they are not mandated to do so. More and more people become victims of RSI because of the lack of knowledge about RSI. If there were more information about it and the serious complications that come with it, it would be looked at more closely. RSI is an increasing problem. People need to be aware of RSI, so that it has less of an effect on our world. Knowledge is power and together we can inform everyone about RSI. ? Drudi, D. (1997). Have Disorders Associated with Repeated Trauma Stopped Increasing. In Safety and Health. Retrieved on 4/28/2009, from bls.gov/opub/cwc/archive/summer1997brief4.pdf ?Take Great Care of Your Hands (2009). Retrieved on 4/28/2009, from http://beadwork.about.com/od/tipstricksandtems/ss/Hand_Care_2.htm ?What is RSI? (2009). Retrieved on April 28, 2009, from www.faqs.org/faqs/uk/health/rsi/section-2.html Research Papers on Repetitive Stress Injury RSIThe Hockey GamePersonal Experience with Teen PregnancyThe Effects of Illegal ImmigrationTwilight of the UAWIncorporating Risk and Uncertainty Factor in CapitalMarketing of Lifeboy Soap A Unilever ProductLifes What IfsResearch Process Part OneThree Concepts of PsychodynamicRelationship between Media Coverage and Social and

Microeconomics Essay Example | Topics and Well Written Essays - 500 words

Microeconomics - Essay Example This is especially true in the high-end home market where inventory is rising sharply and is beginning to experience falling prices. The resiliency of the real estate market and its reluctance to react to intuitive supply and demand pressures is a result of the seller's option to hold their property. The inelastic nature of the market is largely due to two factors. Typically long lead times for real estate inventory to affect prices and the ability of the seller to exercise discretion both contribute to the seemingly strange market condition. In the article, Bob Walters, chief economist for Quicken Loans, says, "People will hold their house on the market longer, rather than accept a lower price". This seller discretion indicates we may see further slowing of sales before prices begin to slip. However, warning signs of increased weakening are on the horizon. A Deerfield, IL. agent said that homes in the $1 million dollar range are beginning to feel the stagnation. He states that houses in this range have as much as a four year inventory and in some cases have seen a 50% drop in prices in the last few months. The increase in supply in this range has finally caught up with the number of sellers who need to find a buyer.

Great Depression & Wall Street Crisis Essay Example | Topics and Well Written Essays - 3250 words

Great Depression & Wall Street Crisis - Essay Example Prior to October 1929, market investment was highly expedient. From 1923, American economy experienced bullish trend in the Wall Street. Lending by banks and brokers was higher than the general face value of the stocks being purchased. Household investors and novice sponsors further aggravated the progress in stock market. Increasing development and prices of iron and steel industry further amplified prices due to speculation. Further introduction of installment in the banking system allowed many families to own what they could not afford otherwise (Suddath, n.p). At this scenario, the demand and supply forces came into play. Due to higher demand and excess of borrowed money, general rate of trade was at its highest. Presence of many small banks despite having no ability to lend without having substantial savings to back up these loans, further strengthen speedy stock exchange. This trend of trading was further increased by the presence of marginal buyers. Marginal buyers only paid 1 0-20 percent of the actual value of shares whereas the remaining amount was credited by brokers or banks. Due to little requirement of investment capital, number of novice investors who were susceptible to negative speculation, increased. On October 29, 1929, best known as Black Tuesday, the stock market crashed completely.However, with increase in the stock prices and overall economic development, small traders and famers extended their production scale which lead to excessive supply of wheat and other eatables.

Strategic Marketing Plan Essay Example for Free

Strategic Marketing Plan Essay This growth will be the direct result of a new toothpaste product launch. The following plan draws on related Industry, Competitive, and Consumer analyses to justify the production of a â€Å"mouth pod† and the market for such a future-oriented design. The plan also provides an implementation plan for the launch of this product, as well as a recovery plan. Overall, this â€Å"outside-the-box† thinking will set Crest apart from its competitors. Unfortunately, given the current state of the economy, there are insufficient resources to support a national or even a regional launch of the new product. Thus, the product will initially launch in only one New York County. Rochester, in Monroe County was chosen on the basis that it holds the highest potential for the product’s success. Syracuse in Onondaga County and Binghamton in Broome County were not chosen. This choice is supported with data from a comparative analysis that demonstrates how and why it is believed to be the best potential geographical market. The recommended geographic area is premised on a detailed and careful assessment of the geographic market(s) and how the chosen county best suits this proposed strategy. This will serve as a trial; if the product performs well in Monroe County, it will later be rolled-out to more areas. This subsequent roll-out will determine whether the product is given a national launch. SITUATIONAL ANALYSIS: SWOT STRENGTHS * Inventive design, unlike any other toothpaste product on the market. * TWBA Chiat Day will significantly assist Crest in leveraging the So Mod Mouth Podsâ„ ¢. * Consumers are seeking coupons due to the current state of the economy. WEAKNESSES * Most of Crest’s products are either mature or declining within the product life cycle. As a result, new products are continuously introduced. * Competitors are able to quickly release comparable products, intensifying competition. * Toothpaste promotions often use sales to drive new purchases based on price. OPPORTUNITIES * Product differentiation- with the amount of rivalry, there is plenty of reason to invent and innovate. * Essential to western hygiene- there is no one who would argue that brushing one’s teeth with toothpaste is not a hygienic staple in western culture. * Emerging markets- as is true with a large variety of industries, the developing world poses a huge opportunity for growth. THREATS * Everyone is essentially selling the same thing- The Company is no longer selling toothpaste, but more the brand or the features of the toothpaste. * Low switching costs- At one point, toothpaste purchases were mainly driven by individual habits, inclination towards particular flavor and familiarity with the product However, consumers are much more price-sensitive after the recession, even in the recovery stage. They do not always stick to brands they desire, they are now shopping for the best value. * Competitors, namely Colgate, infringing on prized shelf space. ISSUES ANALYSIS amp;OBJECTIVES Issue #1: Product differentiation The toothpaste product market is heavily saturated with products (and product lines) that are very similar to each other. They all cover the range of benefits that toothpaste consumers seek, from whitening to tartar control. Consumers are fatigued by the vast array and similarity of toothpaste products available on store and virtual shelves. Fatigue in relation to innovation exists as well, because toothpaste brands have pushed innovation to its limit. Even the newest toothpaste products like Colgate â€Å"New? Optic White Toothpaste and Crest â€Å"New? 3D White Toothpaste do not have much of an edge. Six months after launch, the perception of innovation and relevance fades away. Whitening was once an innovative feature, but is now expected. For a new toothpaste product to be successful, it will need to break free of this mold. Objective: To achieve sales of 50,000 packs of day and night â€Å"mouth pods† by the second quarter. Strategy: Crest will follow a strategy based on innovation and disruption. The launch of this new product will break through the clutter comprised of existing toothpaste products. It will feature the Crest logo, thereby boosting brand awareness and sales of other Crest products. Ultimately, a new product category may arise out of a successful campaign for this launch. The new product will be available in two versions: one made specifically for brushing in the morning, and a companion product made specifically for brushing at night. The daytime use product would have light-colored packaging, and the nighttime use product would have dark-colored packaging. If the product is very successful, it could set other brands into their own category of being â€Å"anytime† toothpaste products. Crest’s new brand will gain market share from being in its own niche. A companion product for nighttime use will push more people to brush their teeth before going to sleep. This will not only improve the top line growth of Crest’s new brand, but it will also cause consumers to develop the good habit of brushing two or more times a day; this may also increase the frequency in which a consumer must purchase toothpaste. Tactics: The new product will have a slightly higher price point than that of Crest’s current â€Å"New? products and those of competitors. Since toothpaste is a low involvement purchase, tactics will focus on drawing consumers? attention. Display stands and posters will accomplish this by brining consumers? attention to the product’s placement on retail shelves. The package design will stand out amongst other toothpaste products on the shelves. Online promotions will include banner ads on retail websites and social media profiles, including Facebook and Twitter. Special offers for the product will be made both online and in stores. Issue #2: Growth Stagnant growth in the U. S. market has plagued the toothpaste industry. As mentioned in the Industry Analysis, 98% of Americans are users of toothpaste, which does not allow for much growth. The population it is not increasing at a rate high enough to sustain our goals of driving up sales in this country. Objective: To move Crest to the position of market leader by at least 5% points by the end of the fourth quarter. In current terms, Crest would need to gain another 6% of the market to ultimately have 41% and a five point advantage over Colgate. Strategy: Jump start the competition against Colgate by targeting a niche segment of the U. S. population who already enjoy luxury grooming products and are willing to try wild and new products. The primary target would be adults, ages 18-45 who consider themselves to be upper-middle class. The secondary target includes 18-30 year-olds who are still experimenting with new products and have not settled into a rut of brand loyalty. Our new product delivers the burst of innovation that has been so severely lacking in the toothpaste industry. We are offering a brand new delivery system and a feature that has yet to be mass-produced. Tactics: Strategic product releases that start in higher end supermarkets and drugstores. Releases will then move down the scale towards large discounters and superstores such as Wal-Mart. Although the new product will be priced only slightly higher than the average toothpaste, the goal is to position it as a more luxurious and fun way to brush one’s teeth. The roll-out for the test market will begin in January of 2013 and continue being released, hitting discount stores in July. The time sensitivity of this product release is almost irrelevant because there is no season of increased sales. Starting early in the year is just a ploy to have a fresh and energizing start to 2013. Placement on shelf will be further taken into consideration once packaging is completely finalized. Issue#3: Existing Brand Loyalty Consumers are more likely to continue purchasing toothpaste brands that they have used since an early age. Therefore, in order to gain a leading market share within the toothpaste segment of the oral care industry, it will be essential to break current purchasing behaviors of our targeted consumers. Objective: Our objective is to increase our brand equity by 25% within the first year of our pilot phase, specifically from repeat purchases by conquest buyers, who initially try Crest „New? So Mod Mouth Podsâ„ ¢ after being exposed to our integrated advertising campaign. Strategy: To spend $3M on advertising and promotion through an integrated advertising campaign that will highlight the benefits exclusively offered by our brand. Crest „New? So Mod Mouth Podsâ„ ¢ will reinvent the functionality of toothpaste and will bring a refreshing change to consumer perceptions of the category. Pamp;G and its competitors provide toothpaste products that meet current consumer expectations: whitening, plaque and tartar control, fluoride treatment, sensitivity, cavity and gingivitis prevention, and fresh breath. However, Pamp;G understands that consumers more strongly demand value, quality, and convenience. Overall, Pamp;G acknowledges the current, stagnant, state of the oral care industry and projects that the â€Å"pod† design will be a profitable opportunity to capitalize upon. Crest „New? So Mod Mouth Podsâ„ ¢ will fuse the benefits of current products with such a futuristic product design, that in effect it will weaken the bonds of loyalty non-Crest users have. The awareness of this fusion will be accomplished through targeted advertisements. Tactics: Advertising amp; Promotion Ad Agency Service Pamp;G will assign TBWA Chiat Day responsibilities for the launch campaign of Crest â€Å"New? So Mod Mouth Podsâ„ ¢, aligning our vision of Crest â€Å"New? So Mod Mouth Podsâ„ ¢ with the culture of this agency that values the concept of disruption as the underlying basis of its campaigns. Trial offer Pamp;G will send out to a sample of consumers $1. 50 off any purchase of our Crest â€Å"New? So Mod Mouth Podsâ„ ¢. This will be for a limited time of one month, before coupon discounts decline in value. Social Media Facebook â€Å"Likes† amp; Free Samples: Pamp;G will offer a 2-flavor sample pack to the first 1000 consumers, who â€Å"like† the Crest â€Å"New? So Mod Mouth Podsâ„ ¢ Facebook Page on the day of our launch. MARKETING MIX Product: Crest „New? So Mod Mouth Podsâ„ ¢ A pack will contain 60 pods; consumers could use one to brush in the morning and one at night. One product would be expected to last for one month before replacement. Crest aims to provide a whole-mouth cleaning experience that is convenient and intuitive. The product is sleek and modern in both look and feel. Our New Product’s Features The new product will have a mix of innovative and expected features. Innovative features include the products formulation; it is a fusion of toothpaste, gel and mouthwash in a round capsule. Within each capsule there will be invisible pockets of pressurized air. Like foaming toothpastes, this product will begin to foam soon after popping in a user? s mouth. The foam will get in-between teeth to fight cavities and kill germs that cause bad breath. The volume of one capsule is smaller than the amount of toothpaste generally applied by consumers to a toothbrush. The mouth pods are safer than toothpaste in cases of accidental ingestion. Active Ingredients Sodium Fluoride (0. 243%). Energy blend: panax ginseng root extract, acai fruit extract, yerba mate leaf extract, guarana seed extract. Inactive Ingredients: Glycerin Hydrated Silica, Water, Sorbitol, Sodium Hexametaphosphate, Propylene Glycol, Flavor, Peg-12, Cocamidopropyl Betaine, Sodium Lauryl Sulfate, Carbomer 956, Sodium Saccharin, Poloxamer 407, Polyethylene Oxide, Xanthan Gum, Sodium Hydroxide, Cellulose Gum, Titanium Dioxide. A blend of panax ginseng root extract, acai fruit extract, yerba mate leaf extract and guarana seed extract will serve as a very slight stimulant. While these substances won’t provide the kind of instant jolt expected from caffeine, they will deliver a healthier feeling of energy and alertness. The product for use in mornings would promote this feature as a burst of energy, a perfect way to start the day. Silica is similar to what dentists use to create a professional clean feeling. Expected Features Initially in relation to the research found about our target market, there will be a variety of basic flavors like Mint and Bubblegum. One of the product’s ingredients are a patented flavor booster to keep breathe ultra fresh. The product uses a fluoride mineral formulation to strengthen weakened tooth enamel. It reinforces enamel layers by rebuilding the weak spots on teeth. A sensitive element in the formulation protects against painful oral sensation. The product provides twelve hour protection from gingivitis, plaque, tender gums, bad breath, cavities and tartar. It promotes healthy gums and safely lifts off yellowing surface stains to restore natural whiteness to teeth. Packaging Design: The packaging will divide its capacity amongst a place for the day pods and the night pods. It will be clearly labeled. An advantage of this is that two different flavors can be included in one package, which gives the consumer the ability to have choice. This is innovative because usually a consumer is confined to one flavor, until they purchase a new tube of paste. Price With an analysis of current products and our assumptions of the cost of goods sold, we believe Crest „New? So Mod Mouth Podsâ„ ¢ must initially be priced at $5. 25 unit cost (without sales tax or shipping cost). Promotion An integrated marketing communications campaign will leverage the strengths of outdoor, print and television advertisements to create positive brand impressions. Online promotions will also be used: the design of Crest? website is modern and easily navigable, with links to social media extensions. A Facebook page will be created to focus solely on the new product, while Crest? s main Twitter account will promote the new product. Word of mouth buzz will be generated as the product becomes more popular. It will stem from creative in-store displays and social media communications. Place amp; Distribution Channels Crest â€Å"New? So Mod Mouth Pods will be available in the oral health care aisle of many stores in Monroe County, including CVS Pharmacy, Wegmans, Target, Walgreens, Wal-Mart, K-Mart, Sam? Club, and Costco. It will further be available for purchase online at the following websites: CVS. com, Target. com, Costco. com, Drugstore. com, Walgreens. com, Amazon. com, and Soap. com. Target Market Overall, the current target consumers for Crest „New? Toothpaste Podsâ„ ¢ are adults, ages 18-45 who consider themselves to be upper-middle class. The secondary target includes 18-30 year-olds who are still experimenting with new products and have not settled into a rut of brand loyalty. The basis for this decision is supported by the overall situational analysis, and pecifically the Consumer Analysis, which demonstrates that young adults are the largest demographic segment that adopts new product innovations. In effect, introducing a higher priced innovative product will be perceived as attractive to yo unger men and women, who are financially able and willing to try a new product. Given the research completed within the Consumer Analysis the county that best fulfills our target market is Monroe County. This county contains the highest population size of all three counties with a population of 735,343 people (Census, 2010). As shown in figure 1, Rochester (the largest metropolis area in Monroe County) has one the largest percentage of individuals between the ages of 15-49. Figure 1 also indicates that Rochester contains the highest percentage of the population with households containing individuals less than 18 years of age. By capturing this segment of the market, Crest can capitalize on repeat purchasing of these individuals, who will eventually be purchasing their own products. The Rochester area contains the highest population of African Americans of the three major cities with 41. 7% (Census 2010). This is a concern when marketing a new toothpaste product because as mentioned in the Consumer Analysis, African Americans are the most prone out of any demographic to purchase store brands over national brand toothpastes. However, when looking at the snap shot of the three counties provided in the Consumer Analysis African American’s only represent 15. 2% out of 735,343. This makes the finding insignificant and should not hinder the success of our new product when looking at the total population of the county. Figure 1: Overview of the three most populous areas in each of the counties | Monroe | Broome | Onondaga | Households with individuals under 18 years | 30. 40% | 23. 40% | 29% | 15-49 | 54% | 44. 60% | 54. 70% | 0-49,999 | 70. 30% | 67. 60% | 70. 00% | $50,000 to $200,000+ | 29. 70% | 32. 40% | 30% | Per capita money income in past 12 months (2010 dollars) 2006-2010 | $17,865 | $21,455 | $17,866 | Median household income 2006-2010 | $30,138 | $30,702 | $30,891 | Persons below poverty level, percent, 2006-2010 | 30. 40% | 27. 80% | 31. 10% | Since we are marketing a new innovative toothpaste product, promotion is another primary aspect in reaching our target market. The advertisements that accompany the launch of the â€Å"New? So Mod Mouth Podsâ„ ¢ should focus on the point of differentiation that this product will provide, such as convenience and multi-functionality. This will propel the product into a more diverse demographic segment as well. The income of the consumer is another factor driving the sales of this product. The Claritas? profiles that were identified in the Rochester Area were as follows: Suburban Sprawl, Young Influential, Domestic Duos, Home Sweet Home, New Empty Nests, and Country Casuals. These profiles were seen to be the most apt to be innovators or at the very least have the capital to try a new product. As outlined in the Consumer Analysis, these profiles have the income as well as the innovator psyche. When analyzing the areas surrounding Rochester, Esri data shows that the population contains affluent Prosperous Empty Nesters, College Towns, Sophisticated Squires, Connoisseurs, and Aspiring Young Families. The profiles of the surrounding areas of Rochester are ideal consumers for our new product because they indicate savvy consumers, who have the appropriate discretionary income to spend on new innovations and are motivated to do so. The Rochester area contains a number of colleges and universities, which will further fuel the sales of this new product, with convenience as the primary selling point. The benefits analysis section within the Consumer Analysis outlines what the consumer needs are. Consumers desire a product that makes clear points of difference, making the selection process less cumbersome. Since So Mod Mouth Podsâ„ ¢ are so unique from the other typical toothpaste products available, it will be easy for the consumer to perceive the added benefits of this product. So Mod Mouth Podsâ„ ¢ provide the consumer with all the mainstream benefits, while reinventing the toothpaste industry. RESEARCH amp; EVALUATION 1. Objective: To achieve sales of 50,000 packs of day and night mouth pods by the second quarter. Evaluation Mechanisms: Sales will be monitored by retail databases as they occur, and reported back to Crest immediately. 2. Objective: To move Crest to the position of market leader by at least five (5) percentage points by the end of the fourth quarter. In current terms, Crest would need to gain another 6% of the market to ultimately have 41% and a five point Advantage over Colgate. Evaluation Mechanisms: Market-share charts the issue of stagnant growth, will need a constant eye on the whole industry. Specifically, the amount of sales each company is acquiring. A market-share chart will become the most important tool in keeping the goal of becoming the industry leader on track. Sales will be monitored by retail databases as they occur, and reported back to Crest immediately. Other research will come from reevaluating the most desirable shelf space in stores. To negotiate the best spot in the aisle, the most looked-at spot needs to be known. Its common knowledge that eye level is preferable, but reaffirming research wouldn’t hurt. The research on market share will begin immediately and continue throughout 2013. The ideal shelf space research will finish 3 months prior to the launch to allow time for negotiation with retailers. Evaluation of the tactics will come via tracking sales figures, units sold, and the market share throughout 2013. 3. Objective: Our objective is to increase our brand equity by 25% within the first year of our pilot phase, specifically from repeat purchases by conquest buyers, who initially try Crest „New? So Mod Mouth Podsâ„ ¢ after being exposed to our integrated advertising campaign. Evaluation Mechanisms: Management Dashboard Through the use of our Active Data Warehouse we will be able to track all of our marketing campaigns and how closely they are aligning with our strategies stated above. We will initially be offering $1. 50 coupons, and will be actively measuring the impact of this on our weekly sales and revenue. Furthermore, TWBA Chiat Day will gather extensive consumer data based upon the advertising and promotion campaigns that the agency puts forth to implement within the next year.