Friday, August 16, 2019
IndiaÃ¢â¬â¢s ancient civilization reveals marvelous facts about its heritage. It indicates as to how kingdoms ruled and how people went about life in a logical way. Dance and rituals were always a part of Indian culture and this was the chief mode of entertainment. It is a land of aspirations, achievements and self reliance. Since medieval times, their chief occupation was agriculture which shows how they rely on their own occupation to produce their means of living. Brief information of IndiaÃ¢â¬â¢s Geographic setting India along with Pakistan and Bangladesh constitutes a geographical unit. This geographical unit has distinctly stood apart from the main continent of Asia Ã¢â¬â the reason being that Himalayan ranges are present in the North side while seas cover the other three sides. Thus it can be seen that the country was always isolated from the rest of the world but as a matter of fact it always tried to keep in touch with the outer part of the world. The vastness of India has resulted in a variety of conditions both geographical and sociological. All these vast and varied resources have been ultimately been utilized for economic self-sufficiency and independence. Social Institutions. In India, the family culture is all about love and patience. A girl weds into a family and adjusts herself seamlessly to the rituals, routine and cuisine. Association with religious beliefs is also followed by families. Families are also getting nuclear owing to independent lifestyle preference and also the concept where in both husband and wife is working and has demanding careers. However certain families observe a matriarchal concept Ã¢â¬â i. e. the groom resides in the house of the bride and follows a tradition as per the brideÃ¢â¬â¢s ancestors. Indian families are very accommodating and willing to accept change. Religion India is one of the most religiously diverse nations in the world, with some of the most deeply religious societies and cultures. Religion still plays a central and definitive role in the life of most of its people. India is the birth place of Dharmic religions such as Hinduism, Buddhism and more. These religions are a major form of world religions next to the Abrahamic ones. Today, Hinduism and Buddhism are the worldÃ¢â¬â¢s third and fourth largest religions respectively. Clothing In some village parts of India, traditional clothing mostly will be worn. In southern India the men wear long, white sheets of cloth Ã¢â¬â over these men can wear what they like. Women wear a long sheet of colourful cloth with patterns. This is draped over a simple or fancy blouse. This is worn by young ladies and woman. Little girls wear a long skirt worn under a blouse. Significance of Indian Jewelry Indians have been using jewelry for adornment since centuries. The significance of jewelry in the country is evident from the fact that on many occasions, jewelry forms a part of gifts. In India, jewelry is considered auspicious for women and even the poorest will have some kind of jewelry with them. Jewelry design is so versatile in India that it varies from state to state. If some jewelry is so much popular in one state, it might not necessarily be popular in another state. However, some basic jewelry is common among all the women across India. Bridal jewelry like maangtika, earrings, nose rings, necklace, mangalsutra, bangles, etc make up basic jewelry which adorn women in India. Incidentally, even today, gold is the metal most widely used for bridal ornaments and over the last decade, these are increasingly being studded with diamonds.
Thursday, August 15, 2019
The basic resource of society is (will be) knowledge and value is to be created by productivity and innovation (Drucker 1993). Amidon (2002), in her recent work entitled The innovation superhighway: harnessing intellectual capital for collaborative advantage states that the rapid shift in orientation over the past 50 years from data to information to knowledge is a profound and fundamental change that highlights the importance of individual and collective knowledge in the new economy.Ã The rapid changes that have taken place in this new era have created a Ã¢â¬Å"new economyÃ¢â¬ that presents new challenges and problems. There are now new markets that are available and the traditional mindsets or practices that have been utilized by institutions and foundations in the past may even be no longer applicable to the current scenario.Ã This short discourse seeks to explain how these changes have created an impact in the Ã¢â¬Å"new economyÃ¢â¬ by highlighting the influence that these changes have made to modern education administration theory in relation to the emerging contemporary marketing perspectives. As previously mentioned, the basic resource of society is (will be) knowledge and value is to be created by productivity and innovation (Drucker 1993).Ã While this may not necessarily be a new concept, it certainly creates an added dimension in this discussion as it leads to three (3) implications. The first being that educational institutions are no longer immune or removed from the Ã¢â¬Å"new economyÃ¢â¬ , as was previously thought; the second implication being that education presently being looked upon to provide answers or solutions to the challenges of preparing people for this new environment or Ã¢â¬Å"new economyÃ¢â¬ and the third being that educational institutions need to face radical organizational change issues in order to be aligned with the Ã¢â¬Å"new economyÃ¢â¬ consumer and the operating requirements demanded by the Ã¢â¬Å"new economyÃ¢â¬ . In order to properly understand or comprehend the impact of these changes it is first essential to delve into a brief discussion of what marketing really means and how it is currently being understood in the context of the present day discussions regarding this issue.Ã Ã¢â¬Å"Marketing, according to Kotler (1994, p. 6), Ã¢â¬Å"is a social and managerial process by which individuals and groups obtain what they most need and want through creating, offering, and exchanging products of value with othersÃ¢â¬ . As key to achieving organizational goals, marketing focuses on satisfying customers and meeting their needs and is central to any organizational improvement.Ã This aspect of marketing is what makes it essential to the concept of the Ã¢â¬Å"new economyÃ¢â¬ in that marketing determines the success of organizations existing and operating within the bounds of the Ã¢â¬Å"new economy.Ã¢â¬ Since the marketing has constantly evolved evolving from a concept with the purpose of convincing consumers that they should buy what is offered, to a conceptual base that suggest that the product or service be customized to meet and satisfy what consumers want, its applicability to modern education administration now becomes clear. There is no question that with the emergence of the Ã¢â¬Å"new economyÃ¢â¬ there has been a shift towards education being a basic resource of society (Drucker 1993).Ã What is questionable however is the extent that this shift is relevant to contemporary marketing perspectives.Ã The answer to this question lies in the relevance that education has in the application of contemporary marketing perspectives. As an ongoing conceptual evolution in practice, marketing in education is the key to gaining a competitive advantage over the other players in the field.Ã While this relevance may substantially vary from one educational institution to another, there are some elements of marketing that have always (arguably) existed in educational institutions. As Amidon highlights, this is now the essential ingredient for economic prosperity (Amidon 2002).Ã The reason for this is because of the impact that education has on contemporary marketing perspectives.Ã In this highly competitive Ã¢â¬Å"new economyÃ¢â¬ , for any player to survive and to prosper, it must be able to sustain its advantage over the other players.Ã This can only be achieved by employing an effective strategy aimed at developing the current advantages and addressing the needs as posed by the current disadvantages which the organization is faced with.Ã An effective strategy however necessarily entails initiating an analysis of the total operating environment (Porter 1996). There are those however who are highly critical of the idea of applying contemporary marketing perspectives to modern education administration theory, citing that there is no need to apply such perspectives because of the fact that educational institutions are beyond the realm of these perspectives and are hence inapplicable to the current scenario.Ã But as shown in the earlier discussion, the emergence of the Ã¢â¬Å"new economyÃ¢â¬ has indeed prompted the examination of traditional views and practices and necessitated the application of new theories such as contemporary marketing perspectives. The resistance to such application also springs from the fact that most of these educational institutions are too focused on the perceived failure or threats from the application of such theories that they, in essence, become too hesitant to institute or implement such changes (Kotler 1985).Ã The tendency of institutions to embrace these perspectives only when they are confronted with problems that they cannot deal with at a time when the application of these perspectives may become too late is the real problem.Ã Institutions, according to Kotler, must learn to realize and understand that the analysis of opportunities is more important than focusing on the perceived threats and dangers that come from its utilization in such a scenario (p 75). Marketing of education has been approached mainly from the operational level as tools for student recruitment and income generation. Responsible marketing in education, as called for by its terms of reference, is concerned with how to effectively bring students into contact with programs that are both beneficial and rewarding from the broadest sense of personal as well as societal fulfillment (Liu 1998). Most, if not all, of the current individual educational institutions are at any of the three (3) stages in terms of their understanding and application of marketing to modern education administration. Ã While it has been argued that in the current scenario marketing is only at the early stages of development in most educational institutions, typically at stage 1 or stage 2 of this continuum, there promises to be more growth and development in this field because of the relevance that it has as discussed in the previous segments of this discourse.Ã Marketing, therefore, as a selling or product based concept can be applied to modern education administration. The application of marketing perspectives to educational theories is possible in many different aspects.Ã One of these aspects is in recruitment, which is analogous to the earlier theory of coming up with a strategy.Ã In this aspect, marketing can play a very important role as it will effectively make the educational institution stand out and become more recognizable.Ã When products become increasingly similar, companies need to segregate themselves from the rest of the players to create a preference for their offerings. This is similar to the current scenario which exists in the education sector wherein most schools provide the same basic services and information as others.Ã By employing marketing strategies, such as branding, these educational institutions are able to distinguish themselves from the other players in the field by promising that the company's offering will create and deliver a certain level of performance, and in this case that the education offered will be exactly what the target market needs in order to succeed (Kotler 1994). The concept of branding is also applicable to a stage one (1) or stage two (2) marketing approach which essentially is limited to recruitment.Ã The ability of branding to increase recruitment is only one aspect as branding has also been shown to increase retention and referral.Ã This however exposes a fundamental difference between the various approaches to marketing education. A stage three (3) marketing approach incorporates a focus on what can be termed the 3Rs: Ã¢â¬ ¢ recruitment Ã¢â¬â student (and parent) Ã¢â¬ ¢ retention Ã¢â¬â student (and parent) Ã¢â¬ ¢ referral Ã¢â¬â student (and parent).Ã The successful implementation of these strategies however clearly creates for opportunities for any educational institution than it does threats and therefore strengthens the position that there indeed is an advantage that contemporary marketing perspectives can bring to the field of modern education administration. In conclusion, the dawning of the Ã¢â¬Å"new economyÃ¢â¬â¢ which emphasizes the primacy of knowledge and education also brings about new challenges and opportunities for the field of education administration.Ã In order to capitalize on this whoever education institutions need to recognize the fact that there are indeed more benefits to be gained from employing these perspectives and should instead consider marketing and strategy concepts that allow for sophisticated planning, implementation and monitoring procedures to anticipate and meet customer needs and enhance satisfaction in line with the current development in marketing theories. References: Amidon, DM (2002) The innovation superhighway: harnessing intellectual capital for collaborative advantage, Butterworth-Heinemann, USA Drucker, Peter (1993) Post capitalist society, Butterworth Heinemann, UK Kotler, Philip (1994) Marketing management, Prentice-Hall International, USA. Liu, Sandra (1998) Integrating Strategic Marketing on an Institutional Level Hong Kong Baptist University, Kowloon, Hong Kong Journal of Marketing for HIGHER EDUCATION
Josh Crews Mrs. McGaulley AP English 3 9/3/12 The Tone of Ã¢â¬Å"In and Of Ourselves We TrustÃ¢â¬ In the article Ã¢â¬Å"In and Of Ourselves We TrustÃ¢â¬ by Andy Rooney, the speaker uses tone to allow the reader to recognize the mutual trust of humanity and the law. For example, when the author states, Ã¢â¬Å"ItÃ¢â¬â¢s amazing that we ever trust each other to do the right thing, isnÃ¢â¬â¢t it? Ã¢â¬ , he uses an appreciative tone. This is shown through the speakersÃ¢â¬â¢ appreciation of knowing that humanity will automatically do what is right even when it is not convenient for humanity.Even though he didnÃ¢â¬â¢t want to stop at the light, he did, and he is appreciative of the fact that other human beings would stop at the red light as well. There is a plethora of examples that show the speakers appreciation for this unseen force, as for example, Ã¢â¬Å"We do what we say what weÃ¢â¬â¢ll do. We show up when we say weÃ¢â¬â¢ll show up. Ã¢â¬ This example shows that h umanity has the natural instinct to accomplish our wishes. Furthermore, the speaker uses a proud tone in the example, Ã¢â¬Å"I was so proud of myself for stopping for that red light.Read also Critical appreciation of the poem Ã¢â¬Å"Old LadiesÃ¢â¬â¢ HomeÃ¢â¬ . Thus, stating that he was proud that he did do right and realized that he didnÃ¢â¬â¢t think twice about it. Pride is one of mankindÃ¢â¬â¢sÃ¢â¬â¢ best attributes and sometimes the worst. In this case, pride is granting the speaker a chance to express his gratitude for humanityÃ¢â¬â¢s uncanny ability to surprise itself and show we are naturally striving for greatness. Following that, he states Ã¢â¬Å"Ã¢â¬ ¦no one would ever have known what a good person I wasÃ¢â¬ ¦I had to tell someone. Ã¢â¬ Saying that shows the speaker wants to boast and tell the readers of his accomplishment.
Wednesday, August 14, 2019
A Comparison of Happiness and Power in Paradise Lost by John Milton and A Dolls House by Henrik Ibsen
A Comparison of Happiness and Power in Paradise Lost by John Milton and A Doll's House by Henrik Ibsen Happiness is a luxury only the powerful can afford. In light of this view compare representations of happiness and power in Paradise Lost and A DollÃ¢â¬â¢s House. (30 marks) In both Paradise Lost and A DollÃ¢â¬â¢s House, to say only those in power truly experience the luxury of happiness would be a somewhat reductive statement. Arguably, there are grounds to argue that Eve, as an embodiment of the weak woman in a patriarchal society, never receives the empowerment she desires, despite all efforts to strive for independence, knowledge and subsequently, happiness. Adam does, however, forgive her towards the end of the poem and their love becomes stronger, perhaps signifying a version of a happy ending. The title of the poem in the first place, however, Ã¢â¬ËParadise LostÃ¢â¬â¢ suggests a loss of complete happiness and fulfilment and due to their own actions, Adam and EveÃ¢â¬â¢s Utopia and Paradise is altered and corrupted. Like Eve, in A DollÃ¢â¬â¢s House, IbsenÃ¢â¬â¢s Nora symbolises the patriarchal stereotype of a supressed woman. Nora openly proclaims that she was never truly happy under the restrictions of her role as a housewife and a moth er, but as she leaves her family in search of herself she arguably becomes empowered. Despite the lack of resolution at the end we, the reader are given the impression that Nora will find, at least a happier life than the one by TorvaldÃ¢â¬â¢s side. On the other hand, to say NoraÃ¢â¬â¢s abandonment of her family makes her powerful could be disputed considering the patriarchal context the play was written in. Nora perhaps does find happiness by leaving her family, but from a patriarchal point of view, for a woman to leave her Ã¢â¬ËdutiesÃ¢â¬â¢ as a wife and a mother is a woman abandoning her purpose which, arguably, renders her weak and disempowered. Patriarchal and masculine power is a central theme to both texts which arguably leads to misery, not happiness as the repression of women causes their wives to Ã¢â¬ËstrayÃ¢â¬â¢ in seek of independence. Both men at some point lose the women that they love even if temporarily, thanks to their pride and desperation to hold onto patriarchal power. Arguably, Torvald plays up to this stereotype as the strong heroic protector wishing that Ã¢â¬Ësometimes [Ã¢â¬ ¦] some terrible danger might threaten [Nora] so [he] could offer [his] life [his] blood, everything for [her] sake.Ã¢â¬â¢ Nick Worrall argued that Ã¢â¬Ëhis security depends on feeling superior,Ã¢â¬â¢; and as Torvald indulges in this patriarchal concept of a male hero, this statement rings true, portraying the idea that for a man to feel powerful, they must lure thus power and Ã¢â¬Ësuperior[ity]Ã¢â¬â¢ over their wives. It appears, however, that TorvaldÃ¢â¬â¢s words are false and empty as when faced with the opportuni ty to save his wife by providing the Ã¢â¬Ëmiracle of miracles,Ã¢â¬â¢ it seems, he is unable to trade in his pride for the happiness of his marriage. Instead, he declares, Ã¢â¬Ëno man can be expected to sacrifice his honour, even for the person he loves.Ã¢â¬â¢ Arguably, Ibsen intended to use Torvald to represent the gender inequality in the time he was writing, and the importance of patriarchal male pride placed even above the importance of family and marital love. Perhaps by having Nora leave, Ibsen was trying to say that placing too much importance on being the stereotypical masculine figure and neglecting female rights would only lead to unhappiness. Arguably, this is seen where TorvaldÃ¢â¬â¢s male pride leads to NoraÃ¢â¬â¢s realisation that he is not able to provide for her (havenÃ¢â¬â¢t you been happy here? / No; never. I used to think I was. But I havenÃ¢â¬â¢t ever been happyÃ¢â¬â¢) and consequently his misery as she abandons him in search of her freedom. Likewise, following EveÃ¢â¬â¢s transgression (Ã¢â¬Ëshe plucked, she ate, earth felt the woundÃ¢â¬â¢) Adam is initially unable to put aside his masculine pride for the happiness of their relationship, and so despite maintaining power he does not seem to be presented as happy. This is made apparent when AdamÃ¢â¬â¢s address of Eve changes from Ã¢â¬Ësole EveÃ¢â¬â¢ to Ã¢â¬Ëingrateful EveÃ¢â¬â¢ as he blames and reprimands her: Ã¢â¬Ëbad woman.Ã¢â¬â¢ Like Torvald, Adam is unable to look past EveÃ¢â¬â¢s transgression, which causes him to be bitter rather than happy as arguably, he is driven by his sexism and desire for power, and not his love. Weathers was of the opinion Ã¢â¬Ëthat bitter antifeminism [Ã¢â¬ ¦] accompanies young masculinity,Ã¢â¬â¢ a statement which seems to describe not only AdamÃ¢â¬â¢s behaviour, reflected by his twisted pet names but TorvaldÃ¢â¬â¢s too as he also mocks NoraÃ¢â¬â¢s femininity with insulting remarks: Ã¢â¬Ëthoughtless woman.Ã¢â ¬â¢ In both texts, the male characters use the noun Ã¢â¬ËwomanÃ¢â¬â¢ to reprimand and mock their wifeÃ¢â¬â¢s gender, arguably, to make themselves feel powerful and therefore happy. This attitude of male superiority was common in both contexts, but particularly in the 1600Ã¢â¬â¢s evidenced in MiltonÃ¢â¬â¢s divorce tracts: Ã¢â¬Ëwho can be ignorant that woman was created for man and not man for woman.Ã¢â¬â¢ Arguably, MiltonÃ¢â¬â¢s views are expressed clearly through Paradise Lost as Eve is supressed and put back in her place, Ã¢â¬Ësafe and seemliest by her husbandÃ¢â¬â¢s sideÃ¢â¬â¢ and we are given the impression that had she listened to her husband, the fall would never have taken place: Ã¢â¬Å"Would thou hadst heartened to my words (Adam).Ã¢â¬ We see however, that this power, like with Torvald, does not bring happiness but anger and resentment and it is not until Adam is able to forgive his wife, and let go of his pride that he is able to pass the Ã¢â¬Ëtr ial of exceeding loveÃ¢â¬â¢ and better their relationship. We see then that for both male characters in these texts, their desire for patriarchal power does not provide them with the luxury of happiness but pushes their wives away and makes them bitter and resentful. For Torvald, he is unable to rectify his relationship and is left at the end of the play miserable, and disempowered, but for Adam, despite the fall and his subsequent disempowerment, his relationship with Eve is reconstructed and we, the reader, is left with the impression that they are happy. On the other hand, the patriarchal stereotype categorises women as weak, yet in both texts, the female characters empower themselves by striving for independence, knowledge and happiness. Towards the end of A DollÃ¢â¬â¢s house especially, we are given the impression that Nora will find happiness as she realises that she has Ã¢â¬Ëanother duty which is equally sacred, a duty towards [herself].Ã¢â¬â¢ Jakovlievic argued that Ã¢â¬ËIbsen presents the image of a happy household infested with unhappy performativesÃ¢â¬â¢ but arguably, as the play draws to a close this image is shattered and the patriarchal pretences are revealed as Nora states: Ã¢â¬Ëyou were never in love with me, you just thought it was fun to be in love with me.Ã¢â¬â¢ NoraÃ¢â¬â¢s realisation that her marriage is a faÃ §ade arguably leads to her decision to step away from her husband in search of independence, knowledge and the happiness those entail. It could be argued that NoraÃ¢â¬â¢s search for independ ence indicates IbsenÃ¢â¬â¢s view as a humanist and as some have argued, a Ã¢â¬Ëproto feminist,Ã¢â¬â¢ who believed that it was not a Ã¢â¬Ëquestion of womenÃ¢â¬â¢s rightsÃ¢â¬â¢ but of Ã¢â¬Ëhuman rights.Ã¢â¬â¢It seems, however, that though IbsenÃ¢â¬â¢s desire was for gender equality, NoraÃ¢â¬â¢s freedom would not have been genuinely possible in IbsenÃ¢â¬â¢s contemporary society. IbsenÃ¢â¬â¢s inspiration for Nora was a friend, Laura Keeler who when stepping out of the confining, patriarchal parameters, was punished by her husband and placed into a mental asylum. It seems then, that though we are given the impression of empowerment and happiness NoraÃ¢â¬â¢s journey is not a true representation of what was accessible for women in the 1800Ã¢â¬â¢s. Equally, Eve is repressed by the male figures in her society and expected to Ã¢â¬Ëstudy household goodÃ¢â¬â¢ under the role of the 17th century ideal housewife. Like IbsenÃ¢â¬â¢s, MiltonÃ¢â¬â¢s ideology seems t o run through his text through the presentation of Eve as she is prohibited from gaining knowledge such power that comes with it. This seems to mirror MiltonÃ¢â¬â¢s attitude towards women, who in his own life had forbidden his daughters from a full education. As a result, it seems that unlike Nora, Eve does not triumph in her search for independence but instead is laid with the consequences of the fall: pain in child birth, mortality and the gift to future generations of hereditary sin, Ã¢â¬Ëwho might have lived and joyed immortal bliss.Ã¢â¬â¢ Despite these consequences, however, as book 9 commences one of EveÃ¢â¬â¢s main arguments for Ã¢â¬Ëdivid [ing their] laboursÃ¢â¬â¢ is to escape the threat of the tempter, Satan (Ã¢â¬Ëhow are we happy, still in fear of harm.Ã¢â¬â¢) As Satan is the most penalised, admonished to hell, subject to the constant temptation of fruit that turns to ash, despite EveÃ¢â¬â¢s inability to achieve independence, the removal and punishment of Satan does dissipate the perpetual fear of Ã¢â¬Ëthe evil oneÃ¢â¬â¢ and allow herself and Adam to live together in peace, harmony and happiness. Overall, we are given the impression that through a journey towards independence, Nora will find a sense of freedom and happiness in the future. EveÃ¢â¬â¢s search for independence is not a source of empowerment as she is ladled with the consequences of the fall and forcibly placed back at her husbandÃ¢â¬â¢s side, we do, however, get the impression that without power Eve is still able to find some peace and happiness, as the threat of Satan is no longer a genuine one and her relationship with Adam is reconciled. In conclusion, the men in these texts would have been expected by their contemporary audiences to wield masculine power as patriarchal figures. It seems however, that their desire to hold onto thus power restricts them from a happy life, as it drives their wives away in search of independence. Adam is able to reconcile with his wife and ultimately be happy again but arguably, Ibsen uses Torvald to suggest that those who are not willing to share their power will never be able to put aside their pride for the sake of love and happiness. The women in these texts demonstrate that independence and knowledge is a source of power and happiness, but where Nora is able to receive what appears to be a happy ending, Eve is put back in her place and ladled with the consequences of the fall. Eve, though completely disempowered does seem to find some sense of happiness, as she and Adam are able to reconcile their differences, and without the threat of Satan can live their lives in harmony.
Tuesday, August 13, 2019
Financial and Strategic Management - Essay Example Firms that are highly leveraged may not continue to pursue debt financing because they are already paying a lot of interest. One of the cons of debt financing is the payment of interest. A positive aspect of debt financing is that the firm does not relinquish any control (Richards, 2011). The use of equity financing can be used to raise money fast. One of the advantages of equity financing is that firm is not obligated to pay back the principal and there are no interests costs associated with the acquisition of money through equity financing. A con of the strategy is that the common stocks sold in the open market by public corporations have voting rights which dilutes the power of ownership. There is no single formula to determine the appropriate mix for a particular project. The mix that will be used by a company will depend on a variety of internal and external factors. For instance when the interest rates in the market are low companies are going to be more persuaded to increase t he use of debt to finance projects. 2) Identify 3-5 sources of funding for projects. You may include budget allocations directly from governments or private sources of finance. What are their relative advantages and disadvantages? There are many sources that can be used to finance a project. Five of those sources are common stocks, preferred stocks, bonds, governmental incentives, and retained earnings.
Monday, August 12, 2019
Global Economic Development - Essay Example Countries that increase their Income but do not also raise life expectancy, reduce infant mortality, and increase literacy rates are missing out of some important aspects of development. The economic development of a country is defined as the development of the economic wealth of the country. Economic development is a maintainable boost in the standards of living of the people of a country. It implies an increase in the per capita income of every citizen. In the long run, economic development implies that there has been creation of more opportunities in the sectors of education, healthcare, employment and the conservation of the environment. Economic development is aimed at the overall well-being of the citizens of a country, as they are the ultimate beneficiaries of the development of the economy of their country. Michael P. ... ic and social choices available to individuals and nations by freeing them from servitude and dependence not only in relation to other people and nation-states but also to the forces of ignorance and human miseryÃ¢â¬ Economic growth, usually expressed in terms of the gross domestic product or GDP of the country, refers to a rise in national or per capita income and product. If a production of goods and services in a country rises, ultimately means an increase in the overall income and the overall consumption of goods and services in the economy (Wolf, 2005). Economic growth can be either positive or negative. Negative growth can be referred to by saying that the economy is shrinking. Negative growth is associated with economic recession and economic depression. Economic growth is a narrower concept than economic development. It is defined as the increase in the value of goods and services produced by every sector of the economy. Experts have analyzed economic growth in various way s but the main difference lies in the fact that economic growth is generally measured with the mean of percentage. For example, GDP of a country is an example of economic growth (Parkin, 2008). The example of economic development can be social and/or financial development of the country, which is difficult to measure quantitatively. This is why economic growth is part of economic development; it helps to measure some of the whole system. Another difference between these two concepts is the type of changes. In economic growth, it takes only quantitative changes under considerations to determine the growth of an economy. For example the annual income of a country is a quantitative change and can indicate an economic growth if it has increased over time. Economic development, however, takes both
Sunday, August 11, 2019
Situational Price Sensitivity in Marketing - Essay Example Each customer will have a certain price acceptability window and different customers have different limits in their perceptions of what price is within their range. Pricing is an extremely important part of the marketing mix that has been neglected for a long time. It is the only marketing strategy variable that generates a positive cash flow. The remaining variables (Advertising and promotion, product development, selling effort, distribution, packaging) all create costs. To optimize pricing and all related marketing mix instruments, price sensitivity is an essential contract. Sensitivity is defined as "the response of an organ or organism to external stimuli" (Webster's Third New International Dictionary 1993). Price Sensitivity is used by organizations that are working with unknown pricing situations, new products, products that offer thin margins or products that offer improved benefits to established products. Put together, the term price sensitivity clearly refers to the response of an individual to the amount of money asked or paid for a good or service. This commonsense definition is generally agreed upon (e.g., Hoch et al. 1995; Tellis 1988). It indicates what effect a price change will have on the buyer's intention to purchase a given product or class of products. If buyers are considered price sensitive, changes in price will cause (definite) changes in their buyer behavior. If they are not price sensitive at all, price changes will not result in a change in their purchasing behaviour. In this study, price is assumed to have a negative effect on the purchase probability. A higher price will normally lead to lower demand.(1) Price is hence a negative attribute of an electronic entertainment product. Price sensitivity is defined as the degree to which consumers use price as a decision-making criterion (Lichtenstein, Bloch, and Black 1988). However, its analysis has been mostly focused on traditional consumer goods like groceries or apparel, which have different characteristics in production and consumption than electronic entertainment or media products. In order to assesses what actions have to be taken by media companies to react to price sensitive consumers, the price sensitivity construct and its determinants and consequences have to be scrutinized. There have been many prior studies of how advertising affects two equilibrium quantities: the price elasticity of demand and/or the price level. Our work is differentiated from previous work primarily by our focus on how advertising shifts demand curves as a whole. As Becker and Murphy pointed out, a focus on equilibrium prices or elasticities alone can be quite misleading. Indeed, in many instances, the observation that advertising causes prices to fall and/or demand elasticities to increase, has misled authors into concluding that consumer "price sensitivity" must have increased, meaning the number of consumers' willing to pay any particular price for a